UAE allows co-operatives to trade shares on local stock exchanges
The UAE Cabinet on Thursday approved a decision to let co-operative associations trade their shares on the local financial markets.
Listings will allow co-operatives, which are primarily supermarkets and retail businesses, to raise new capital from outside and expand their portfolios, the state-owned news agency Wam reported.
Access to capital markets will also boost the co-operatives' contribution to the national economy, improve their competitiveness and help the industry profit, Wam said.
The development comes as Dubai plans to list 10 government and state-owned companies on the Dubai Financial Market as part of a broader strategy to double the financial market's size to Dh3 trillion ($816.7 billion) in addition to a slew of successful initial public offerings on the Abu Dhabi Securities Exchange (ADX), the second largest market in the Arab world.
Saturday, 19 February 2022
'Critical' for investment to flow to lowest-cost, lowest-carbon energy - #UAE minister | Reuters
'Critical' for investment to flow to lowest-cost, lowest-carbon energy - UAE minister | Reuters
Investment needs to focus on the lowest-cost, lowest-carbon oil and gas resources, UAE Industry Minister Sultan al-Jaber said at the Munich Security Conference, the state news agency WAM reported on Saturday.
"For our collective security, the world will need to continue using all energy options for a long time," he was quoted as saying. "As such, it is critical to ensure investment flows to the lowest-cost, lowest-carbon oil and gas resources."
"We should acknowledge that the energy transition is exactly that: a transition, and transitions take time," said al-Jaber, who is also the Abu Dhabi National Oil Company (ADNOC) chief executive officer and UAE special envoy for climate.
The Gulf state last year announced a plan for net-zero emissions by 2050 and would oversee 600 billion dirhams ($163.36 billion) investment in renewable energy. read more
The country, a major oil producer, has in the past 15 years invested $40 billion in clean energy, the government said.
Abu Dhabi's Barakah nuclear power plant has been connected to the national grid and the UAE aims to produce 14 GW of clean energy by 2030, up from about 100 MW in 2015, it said.
Investment needs to focus on the lowest-cost, lowest-carbon oil and gas resources, UAE Industry Minister Sultan al-Jaber said at the Munich Security Conference, the state news agency WAM reported on Saturday.
"For our collective security, the world will need to continue using all energy options for a long time," he was quoted as saying. "As such, it is critical to ensure investment flows to the lowest-cost, lowest-carbon oil and gas resources."
"We should acknowledge that the energy transition is exactly that: a transition, and transitions take time," said al-Jaber, who is also the Abu Dhabi National Oil Company (ADNOC) chief executive officer and UAE special envoy for climate.
The Gulf state last year announced a plan for net-zero emissions by 2050 and would oversee 600 billion dirhams ($163.36 billion) investment in renewable energy. read more
The country, a major oil producer, has in the past 15 years invested $40 billion in clean energy, the government said.
Abu Dhabi's Barakah nuclear power plant has been connected to the national grid and the UAE aims to produce 14 GW of clean energy by 2030, up from about 100 MW in 2015, it said.
#Iran Nuclear Deal: Can Iranian Oil Save Drivers From Expensive Gasoline? - Bloomberg
Iran Nuclear Deal: Can Iranian Oil Save Drivers From Expensive Gasoline? - Bloomberg
We may be about to see a surge in oil from Iran. That’s the hope, at least, surrounding talks in Vienna aiming to revive the 2015 nuclear deal, also known as the Joint Comprehensive Plan of Action.
Sanctions on Iran were first removed in 2016, after a deal was struck to limit the Persian Gulf nation’s nuclear program, only to be reinstated when former President Donald Trump later tore up the agreement. If sanctions are lifted once more, the country will be able to boost its oil production and unlock a wave of barrels stored in onshore tanks and on ships anchored around the world.
That could help reverse some of the recent rise in crude prices and take pressure off motorists faced with the highest fuel prices they have seen in more than seven years.
The talks between Iran and a group of six nations — the U.S., China, Russia, the U.K., France and Germany — have been going on for months and are heading for the finish line, according to a senior European Union diplomat. But what lies beyond the tape remains unclear, and there are still some political obstacles to overcome.
We may be about to see a surge in oil from Iran. That’s the hope, at least, surrounding talks in Vienna aiming to revive the 2015 nuclear deal, also known as the Joint Comprehensive Plan of Action.
Sanctions on Iran were first removed in 2016, after a deal was struck to limit the Persian Gulf nation’s nuclear program, only to be reinstated when former President Donald Trump later tore up the agreement. If sanctions are lifted once more, the country will be able to boost its oil production and unlock a wave of barrels stored in onshore tanks and on ships anchored around the world.
That could help reverse some of the recent rise in crude prices and take pressure off motorists faced with the highest fuel prices they have seen in more than seven years.
The talks between Iran and a group of six nations — the U.S., China, Russia, the U.K., France and Germany — have been going on for months and are heading for the finish line, according to a senior European Union diplomat. But what lies beyond the tape remains unclear, and there are still some political obstacles to overcome.
India, #UAE Seal Bilateral Economic Pact to Deepen Trade and Investment Ties - Bloomberg
India, UAE Seal Bilateral Economic Pact to Deepen Trade and Investment Ties - Bloomberg
The trade deal inked Friday cutting duties on almost 90% of goods traded between India and the United Arab Emirates, will create one million jobs in the next five years, a senior Indian trade official said.
Trade secretary B.V.R. Subrahmanyam, speaking Saturday in an online briefing, called the deal a “win-win” and said it would kick-in between April and May.
India is seeking to deepen trade relationships to help its economy recover from the pandemic. It sees the deal with the UAE, its third-largest trade partner, as a springboard for moving further on agreements with other Gulf Arab nations.
The UAE, meanwhile, is seeking to burnish its reputation as a global hub amid regional competition with Saudi Arabia. The oil-rich Gulf state signed a similar pact with Turkey a few days before finalizing the deal with India.
The trade deal inked Friday cutting duties on almost 90% of goods traded between India and the United Arab Emirates, will create one million jobs in the next five years, a senior Indian trade official said.
Trade secretary B.V.R. Subrahmanyam, speaking Saturday in an online briefing, called the deal a “win-win” and said it would kick-in between April and May.
India is seeking to deepen trade relationships to help its economy recover from the pandemic. It sees the deal with the UAE, its third-largest trade partner, as a springboard for moving further on agreements with other Gulf Arab nations.
The UAE, meanwhile, is seeking to burnish its reputation as a global hub amid regional competition with Saudi Arabia. The oil-rich Gulf state signed a similar pact with Turkey a few days before finalizing the deal with India.
Airbus ordered to delay implementing #Qatar jet cancellation | Reuters
Airbus ordered to delay implementing Qatar jet cancellation | Reuters
A UK judge ordered planemaker Airbus (AIR.PA) to delay any practical impact of a decision to revoke a $6 billion jet order from Qatar Airways for several weeks, as two of aviation's most powerful players wage an escalating court battle.
The move effectively prevents the planemaker from allocating valuable early delivery slots for the in-demand A321neo plane to other airlines, pending an early April hearing at which Qatar Airways plans to seek an injunction reinstating the contract.
The two sides have been clashing for months about surface flaws on A350s, some of which have been grounded by Qatar over safety concerns as its airline sues Airbus for $600 million. read more
Airbus acknowledges quality problems but accuses the airline of mislabelling them as a safety issue to secure compensation.
A UK judge ordered planemaker Airbus (AIR.PA) to delay any practical impact of a decision to revoke a $6 billion jet order from Qatar Airways for several weeks, as two of aviation's most powerful players wage an escalating court battle.
The move effectively prevents the planemaker from allocating valuable early delivery slots for the in-demand A321neo plane to other airlines, pending an early April hearing at which Qatar Airways plans to seek an injunction reinstating the contract.
The two sides have been clashing for months about surface flaws on A350s, some of which have been grounded by Qatar over safety concerns as its airline sues Airbus for $600 million. read more
Airbus acknowledges quality problems but accuses the airline of mislabelling them as a safety issue to secure compensation.