Latest news with #الخليج
Zawya
10-06-2025
- Business
- Zawya
UAE to help tackle Kuwait's power supply crisis: report
Kuwait has finalised a deal with the UAE to seek its help in tackling a festering power supply crisis by investing in renewable energy projects, a Kuwaiti newspaper has revealed. The memorandum of understanding allows Kuwait to benefit from the UAE's 'vast' experience in solar energy, mainly through the Abu Dhabi-based Masdar , one of the largest renewable energy companies in the region. The Arabic language daily Alqabas, quoting 'informed' sources in Kuwait, said the two partners in the six-nation Gulf Cooperation Council (GCC) have signed the MoU recently and that it focuses on cross-border renewable energy projects. 'This is a strategic MoU which aims to expand energy cooperation between the two countries and encourage investment in renewable energy projects,' the report said. 'The agreement coincides with Kuwait's efforts to resolve its power supply shortage…Kuwait hopes that this agreement will enable it to develop its power network in line with its renewable energy targets as part of the country's Vision 2035.' Kuwait has been rationalising electricity consumption during summer due to the widening supply gap caused by a surge in domestic demand and the absence of major power projects. In recent statements, Kuwait's Electricity, Water and Renewable Energy Minister Mahmoud Bushehri revealed plans to embark on large projects to tackle the power supply shortages, including construction of a solar power plant. Bushehri said the new projects would allow Kuwait to attain its target of expanding the share of renewable sources to 30 percent of the total energy mix within the next four years and half the mix by 2050. A government report warned early last year that Kuwait could suffer from a power deficit of more than 1,000 megawatts (MW) in the summer of 2024, which could worsen to nearly 2,000 MW and 2,500 MW in the summers of 2025 and 2026. Masdar, which operates in several countries, is planning to build four solar power plants in Iraq with a combined generation capacity of 1,000 MW, the report said. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Gulf Business
09-06-2025
- Business
- Gulf Business
Dubai Metro Blue Line: Foundation laid for first station
Image credit: HH Sheikh Mohammed/X account Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has laid the foundation stone for the first station on the Dubai Metro's Blue Line. Read- The announcement was made on the Dubai Ruler's official X account. The Blue Line is projected to generate total benefits of Dhs56bn. أثناء وضع حجر الأساس لأول محطة ضمن الخط الأزرق لمترو دبي الذي تبلغ إجمالي منافعه 56 مليار درهم .. المحطة تمثل أيقونة معمارية تضاف لأيقونات دبي الحضارية وستكون أولى محطات الخط الأزرق الذي سيمتد 30 كيلومتراً ليصل إجمالي طول السكك الحديدية بدبي 131 كيلومتر و78 محطة.. مترو دبي نقل… — HH Sheikh Mohammed (@HHShkMohd) The station, an architectural icon, will become a new landmark in Dubai and will be the first on the Blue Line. The line will extend 30 kilometers, bringing the total length of Dubai's rail network to 131 kilometers with 78 stations. The The line will feature a combination of underground and elevated tracks, with a total of 14 stations along its 30-kilometer route. It will include three major interchange stations: Al Khor (Green Line), Centrepoint (Red Line), and International City (1). One of the standout features of the project is a signature station at Dubai Creek Harbour, designed by Skidmore, Owings & Merrill (SOM), which will showcase a unique architectural style. This station is expected to become a key focal point and will be designed to handle 160,000 passengers daily by 2040. The Blue Line will also include the Dubai Metro's first-ever crossing over Dubai Creek via a 1,300-metre bridge, adding a striking visual and functional element to the project. Benefits of the Blue Line The Blue Line is expected to reduce road congestion in key areas by 20 per cent, boost property values near stations by up to 25 per cent, and directly connect major hubs like Dubai International Airport (DXB) to residential areas. Al Tayer noted that the new line will offer more efficient travel times—ranging from 10 to 25 minutes — across various neighborhoods. It will also be integrated into Dubai's broader urban planning strategy, including the '20-Minute City' initiative, which aims to ensure over 80 per cent of services are accessible within a 20-minute commute. The Blue Line is designed to serve areas expected to house nearly one million residents by 2040, including key developments like Dubai Creek Harbour, Festival City, and International City.
UAE Moments
01-06-2025
- Business
- UAE Moments
UAE Rolls Out ‘Finfluencer' Licence for Finance Creators
The UAE has officially launched the region's first 'Finfluencer' licence, targeting individuals who create and share investment-related content online or through traditional media. This new move, introduced by the Securities and Commodities Authority (SCA), aims to bring financial content creators under regulatory oversight to ensure transparency and investor protection. أعلنت هيئة الأوراق المالية والسلع عن إطلاق رخصة "المؤثر المالي Finfluencer"، وهي الأولى من نوعها على مستوى المنطقة، في خطوة استراتيجية تهدف إلى تنظيم المحتوى المالي الرقمي، وحوكمة أنشطة الأفراد المؤثرين في تقديم التحليلات والتوصيات الاستثمارية، والتسويق المالي عبر المنصات… — SCA UAE (@sca_uae) May 28, 2025 Who Needs the Licence? The licence is meant for anyone offering investment advice, financial analysis, or insights related to regulated financial products or entities within the UAE. It applies to content shared through platforms like social media, YouTube, websites, or even seminars and public talks. This step comes as financial influencers continue to grow in reach and impact, often influencing decisions of everyday investors. Read More: Different types of social media influencers and their characteristics Free for the First Three Years To encourage content creators to sign up early, the SCA is waiving registration, renewal, and legal fees for the next three years. Applicants will need to register with the SCA and follow the rules laid out to promote market integrity and maintain public trust. Setting New Standards in the Digital Finance Space SCA's CEO, Waleed Saeed Al Awadhi, described the licence as a strategic step that reflects the UAE's push to lead digital transformation in financial regulation. He said the initiative is about more than just local oversight — it's a move to raise the global bar for how financial content is created, shared, and trusted. This licence marks another major milestone in the UAE's ongoing efforts to balance innovation with investor safety.
Arabian Business
28-05-2025
- General
- Arabian Business
UAE announces Eid Al Adha 2025 holiday for public sector
The UAE government has announced the Arafah and Eid Al Adha holidays for ministries and federal entities for the year 1446 AH. The holidays will begin on 09 Dhu Al-Hijjah 1446 AH, corresponding to Thursday, June 05, 2025, and will continue until 12 Dhu Al-Hijjah 1446 AH, corresponding to Sunday, June 08, 2025. حسب تعميم للهيئة.. عطلة وقفة عرفة وعيد الأضحى للوزارات والجهات الاتحادية لهذا العام 1446هـ سوف تبدأ من 09 ذي الحجة 1446هـ الموافق يوم الخميس 05 يونيو 2025، وتستمر لغاية 12 ذي الحجة 1446هـ الموافق يوم الأحد 08 يونيو 2025م، على أن يستأنف الدوام الرسمي يوم الاثنين 09 يونيو 2025م. — FAHR (@FAHR_UAE) May 28, 2025 Official work will resume on Monday, June 09, 2025.
Arabian Business
26-05-2025
- Business
- Arabian Business
Dubai Crown Prince Sheikh Hamdan to begin official visit to Oman
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, will begin an official visit to the Sultanate of Oman on Monday, leading a high-level delegation. The Crown Prince will meet with Sultan Haitham bin Tariq Al Said, Sultan of Oman, during the visit. He will hold discussions with senior Omani officials with the aim of enhancing cooperation and reinforcing the bonds between the two countries, the Dubai Media Office said in a statement. حمدان بن محمد يقوم بزيارة رسمية إلى سلطنة عُمان غداً على رأس وفد رفيع المستوى. ويلتقى سموه خلال الزيارة جلالة السلطان هيثم بن طارق، سلطان عُمان، ويجري مباحثات مع عدد من كبار المسؤولين العمانيين حول سبل تعزيز الشراكة والتعاون الثنائي ضمن مختلف المجالات التنموية في ضوء العلاقات… — Dubai Media Office (@DXBMediaOffice) May 25, 2025 Dubai Crown Prince's Oman visit aims to strengthen bilateral cooperation Sheikh Hamdan will be accompanied by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai; Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group, and Chairman of the Dubai Integrated Economic Zones Authority (DIEZ). Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority, will also accompany the Crown Prince during the visit. The delegation includes several ministers and officials. Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, will join the visit. Sheikh Salem bin Khalid Al Qassimi, Minister of Culture, will also be part of the delegation. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, will accompany the Crown Prince. Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Application, will also attend. Maryam bint Ahmed Al Hammadi, Minister of State, will be included in the delegation. Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, will participate in the visit. Abdulla Al Basti, Secretary General of The Executive Council of Dubai, will join the delegation. Lieutenant General Talal Belhoul Al Falasi, President of Dubai's State Security Department, will also accompany the Crown Prince. Helal Saeed Al Marri, Director General of Dubai Department of Economy and Tourism, will be part of the visit. Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation, Chairman and CEO of DP World, and Chairman of the Dubai International Chamber of Commerce, will complete the delegation.
