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  Bloomberg Saudi Arabia said global oil production could drop 30% by the end of the decade due to falling investment in fossil fuels. “We’re heading towards a phase that could be dangerous if there’s not enough spending on energy,” Saudi oil minister Abdulaziz bin Salman said in Riyadh. The result could be an “energy crisis,” he said. The minister ...

Abu Dhabi / WAM Abu Dhabi Ship Building (ADSB), the regional leader in the design, new build, repair, maintenance, refit and conversion of naval and commercial vessels, today marked a major milestone in serving the naval and maritime industry in the UAE and beyond for 25 years. ADSB commenced operations with the vision of becoming a trusted naval defence partner ...

  AJMAN / WAM The Ajman’s Department of Finance has signed agreements with 12 local banks to offer an “easy payment plan”, which allows installment payments for government service fees to be made through the “Ajman Pay” platform when paid using any credit cards of these banks. The participating banks include First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Commercial ...

  Abu Dhabi / WAM The Ministry of Industry and Advanced Technology (MoIAT) on Tuesday announced it has signed a memorandum of understanding (MoU) with the Tawazun Economic Council, the UAE defense and security industry and engineering and R&D programmes enabler. The MoU confirms Tawazun’s participation in the National In-Country Value (ICV) Programme, joining a number of other leading national ...

  Abu Dhabi / WAM The Board of Management of the UAE’s Federal Authority for Nuclear Regulation (Fanr) convened and approved the operational plan of Fanr for the year 2022. The plan outlines a number of strategic projects to further strengthen Fanr’s regulatory oversight to regulate the nuclear and radiation sectors in the UAE to ensure the safety of public, ...

  ABU DHABI / WAM Imkan Properties announced the official opening of a premium urban park in the capital Abu Dhabi. Nestled within Khalidiya District along Al Bateen Street, Sheikha Fatima Park is just minutes away from the famous Corniche in the heart of Abu Dhabi. Historically known as ‘Khalidiyah Ladies Park’, the 46,000 square metre plot has been redeveloped ...

  Dubai / WAM Emirates Post Group (EPG) launched the “Postcards to Space” initiative in partnership with “Club for the Future”, a private foundation established by Blue Origin, “UAE Space Agency”, “Mohammed bin Rashid Space Centre” (MBRSC), and “AzurX”. The initiative, which is in line with EPG’s celebrations of the UAE’s Golden Jubilee, was unveiled to increase the interest of ...

  Bloomberg Swedish battery startup Northvolt AB and energy firm Galp Energia SGPS SA plan to develop a lithium-conversion plant in Portugal to supply the region’s growing electric-vehicle industry. The companies said they’ll set up a joint venture with the goal to build a facility with an annual production capacity of 35,000 metric tons of lithium hydroxide — enough to ...

  Bloomberg Brookfield Asset Management is in talks for a deal to acquire a stake in Australian energy metering business Intellihub Group, according to people familiar with the matter. The private equity firm is the likely winner of an auction to buy an interest in the residential energy metering firm from its existing Australian backers Pacific Equity Partners, the people ...

  Italian Prime Minister Mario Draghi wants to make his country more friendly to outside investors. But an ongoing power struggle involving its largest insurer, its richest man and its most powerful investment banker is not a good look. Leonardo Del Vecchio’s fortune of nearly 40 billion euros ($45.1 billion) is rooted in his eyewear group Luxottica Group SpA, which ...