INDUSTRY

Naval Group Launches First French Defense and Intervention Frigate

Naval Group Launches First French Defense and Intervention Frigate

Naval Group has launched the French Navy’s first defense and intervention frigate (FDI), the Amiral Ronarc’h, at Lorient, France. Ordered by the French Defence Procurement Agency, the vessel is set to undergo sea trials as part of its ongoing development next year. The expected delivery of the frigate is scheduled for 2024. The launch ceremony […]

UAE inks deal to supply Germany with LNG, diesel

UAE inks deal to supply Germany with LNG, diesel

German utility company RWE yesterday signed a deal with the Abu Dhabi National Oil Company (ADNOC) to deliver liquefied natural gas (LNG) to Europe’s largest economy by the end of December, RWE announced. According to the agreement, the December cargo “will be the first LNG to be supplied to the German gas market via the […]

Energy deals with Israel violate EU policies, says BDS National Committee

Energy deals with Israel violate EU policies, says BDS National Committee

The European Union’s energy deals with Israel violate the block’s own policies and obligations under international law, according to the Palestinian BDS National Committee (BNC). The committee is the broadest Palestinian civil society coalition that works to lead and support the Boycott, Divestment and Sanctions (BDS) campaign. Exposing what they say is the “EU’s energy […]

EU opens office in gas-rich Qatar amid energy crisis

EU opens office in gas-rich Qatar amid energy crisis

The European Union opened an office in Qatar on Wednesday, in a sign of the Gulf State’s growing influence in solving the international energy crisis, local Qatari media reports. According to the report, EU Council President, Charles Michel, was to meet the Emir of Qatar, Sheikh Tamim bin Hamad Al-Thani, and other top officials in […]

With $1.1tn investment, Saudi Arabia to become the world’s biggest construction site

With $1.1tn investment, Saudi Arabia to become the world’s biggest construction site

RIYADH: Following the launch of Saudi Arabia’s Vision 2030 in 2016, the Kingdom is on its way to becoming the world’s biggest construction site with a total investment of SR4.13 trillion ($1.1 trillion) in infrastructure and real estate projects, according to global real estate consultancy Knight Frank. The real estate firm projected that Riyadh’s population […]

Oil prices jump as OPEC+ announces output cut of 100,000 bpd

Oil prices jump as OPEC+ announces output cut of 100,000 bpd

RIYADH: Oil prices rose more than 3 percent on Monday as the Organization of the Petroleum Exporting Countries and its allies agreed a small production cut to bolster prices. At a meeting at 1pm CEST on Monday Sept, 5, the group, which includes Russia and is known as OPEC+, agreed to reduce output by 100,000 barrels per day, with a […]

Saudi Arabia and Thailand sign free trade agreement

Saudi Arabia and Thailand sign free trade agreement

RIYADH: Saudi Arabia and Thailand signed a free trading agreement on Aug. 29 during the Saudi-Thai Business Forum organized by the Council of Saudi Chambers. Additionally, the two parties signed agreements to facilitate commercial procedures and to establish a Saudi-Thai Business Council, according to the CSC’s tweet. “The governments of Saudi Arabia and Thailand are keen […]