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☆ JPMorgan’s calls for a reality check on energy transition are sensible, UAE energy minister says
▼ + stars: | 2024-04-29 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

JPMorgan's calls for a "reality check" on the world's energy transition goals and pathway is a "sensible," the UAE's energy minister told CNBC. "We need always, whenever we put up predictions, especially long term ones, to have a reality check," Suhail Al Mazrouei told CNBC's Dan Murphy in Riyadh, Saudi Arabia on the sidelines of the World Economic Forum. In a recent note to client, JPMorgan warned that the world needed a "reality check" on its efforts to move from fossil fuels to renewables, pointing out that it could take "generations" to reach net-zero targets. "I think it's a very sensible article," said Al Mazrouei. The minister, however, highlighted that the circumstances and financial capabilities of each country on undertaking the energy transition goals will vary.

Persons: Al Mazrouei, CNBC's Dan Murphy Organizations: CNBC, Economic, JPMorgan Locations: Riyadh, Saudi Arabia, Ukraine

☆ Watch CNBC's full interview with OPEC Secretary General Haitham al Ghais
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with OPEC Secretary General Haitham al GhaisHaitham Al Ghais, OPEC Secretary-General, speaks to CNBC's Dan Murphy the World Economic Forum in Riyadh about OPEC’s response to the war in Gaza, Iran sanctions and other major energy issues.

Persons: Haitham al, Al, CNBC's Dan Murphy Organizations: World Economic Locations: Al Ghais, Riyadh, Gaza, Iran

☆ Only the U.S. has the ability to break the cycle of violence in Gaza, Egyptian foreign minister says
▼ + stars: | 2024-04-29 | by ( Emma Graham | ) www.cnbc.com time to read: +1 min

Egypt's Foreign Minister Sameh Shoukry called on the U.S. to leverage its influence over Israel to prevent further bloodshed in Gaza. Speaking to CNBC's Dan Murphy on Sunday at a World Economic Forum meeting in Riyadh, Saudi Arabia, he said "only the United States has the overall ability to influence conditions, and to motivate all sides concerned to find the point of convergence, and to be able to break the cycle of violence." His words echoed other Arab leaders at the WEF meeting who believe that ending the war in Gaza falls on the United States. Shoukry pushed Washington to "leverage their ability to provide incentives, but also to indicate consequences for the lack of achievement or the lack of progress in the cessation of hostilities." Hamas is reportedly reviewing Israel's latest Gaza cease-fire proposal and a delegation from the group is scheduled to visit Cairo on Monday for talks, according to a Hamas official who spoke to Reuters.

Persons: Sameh Shoukry, CNBC's Dan Murphy, Shoukry Organizations: Egypt's, Reuters Locations: Israel, Gaza, Riyadh, Saudi Arabia, United States, Washington, Cairo

☆ Watch CNBC's full interview with Egypt's foreign minister on the war in Gaza
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Egypt's foreign minister on the war in GazaEgypt's foreign minister, Sameh Shoukry, speaks to CNBC's Dan Murphy at the World Economic Forum in Riyadh about cease-fire talks between Israel and Hamas and Egypt’s humanitarian aid efforts.

Persons: Sameh Shoukry, CNBC's Dan Murphy Organizations: Economic Locations: Gaza, Riyadh, Israel

☆ All projects are moving full steam ahead in Saudi Arabia, economy minister says
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAll projects are moving full steam ahead in Saudi Arabia, economy minister saysFaisal Al Ibrahim, the Saudi economy minister, tells CNBC's Dan Murphy "all projects are moving full steam ahead," after reports indicate some megaprojects will be scaled back.

Persons: Faisal Al Ibrahim, CNBC's Dan Murphy Locations: Saudi Arabia, Saudi

☆ Saudi Arabia says all NEOM megaprojects will go ahead as planned despite reports of scaling back
▼ + stars: | 2024-04-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Saudi Arabia's economy minister rejected recent reports that the kingdom's $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans. "All projects are moving full steam ahead," Faisal Al Ibrahim told CNBC's Dan Murphy on Monday at the World Economic Forum's special meeting in Riyadh. "We set out to do something unprecedented and we're doing something unprecedented, and we will deliver something that's unprecedented." Al Ibrahim stressed that the projects would be delivered according to plan, but with the qualification that decisions were being made for "optimal economic impact." "We see feedback from the market, we see more interest from the investors and we'll always prioritize to where we can optimize for optimal economic impact," he said.

Persons: Faisal Al Ibrahim, CNBC's Dan Murphy, Al Ibrahim, we'll Organizations: Bloomberg, Saudi, NEOM, Public Investment Fund Locations: Saudi, Riyadh

☆ Dubai property boss says floods were overexaggerated: 'Things like that happen in Miami regularly'
▼ + stars: | 2024-04-28 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

Flash floods that formed led to water engulfing cars, in some areas fully submerging them, leading hundreds of drivers to abandon their vehicles on roads to escape the rising water levels. The deluge also closed schools and businesses, grounded hundreds of flights, and destroyed cars, businesses and other property. Damac's Sajwani conceded there was chaos at the airport, but said the UAE had recovered much faster than other nations would have. "Fine, we get some, in one of the malls, some damage. He explained that he arrived in Dubai from London just a few hours after the rains had stopped, and visited all the major properties that belong to his company.

Persons: Hussain Sajwani, Damac's Sajwani, CNBC's Dan Murphy, it's Organizations: Damac, United, UAE, Energy Locations: United Arab, UAE, Riyadh, Saudi Arabia, Dubai, London

☆ WEF president: 'We haven't seen this kind of debt since the Napoleonic Wars'
▼ + stars: | 2024-04-28 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

Borge Brende, president of the World Economic Forum, gave a stark outlook for the global economy saying the world faces a decade of low growth if the right economic measures are not applied. "The global growth [estimate] this year is around 3.2 [%]. "Trade will change and global value chains — there will be some more near-shoring and friend-shoring — but we shouldn't lose the baby with the bathwater ... Then we have to address the global debt situation. We haven't seen this kind of debt since the Napoleonic Wars, we are getting close to 100% of the global GDP in debt," he said. He also motioned persistent inflationary pressures and that generative artificial intelligence could be an opportunity for the developing world.

Persons: Borge Brende, CNBC's Dan Murphy, shoring Organizations: Economic, Energy Locations: Saudi Arabia

☆ Israel and Iran: All-out war, or measured retaliation?
▼ + stars: | 2024-04-19 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Atta Kenare | AFP | Getty Imageswatch nowBut a full-blown conventional war would be devastating to both sides and highly destabilizing for the Middle East. Are these tit-for-tat blows between Israel and Iran clear evidence of all-out war, or carefully calibrated retaliation strikes? "With Israel's apparent strikes on Iran today, retaliating for Iran's attack on Israel last Sunday, we now have a direct nation-on-nation hot war," he told CNBC's "Capital Connection" Friday. 'Ball is back in Iran's court'Not everyone agrees that the line into wider war has been crossed, however. Within hours of the Israeli strikes, risk assets were already on their way back down, with international oil benchmark Brent crude turning lower for the session after a brief spike.

Persons: Atta Kenare, Benjamin Netanyahu, Joe Biden, Netanyahu, Ebrahim Raisi, Clay Seigle, CNBC's, Ehud Olmert, CNBC's Dan Murphy, Olmert, Ian Bremmer, Michael Singh, Israel, Rob Casey, Casey Organizations: AFP, Getty, Washington, Rapidan Energy Group, Israeli, Military, Israel, Eurasia Group, National Security Council, Wall Street, Signum Global Advisors, Anadolu, International Atomic Energy Agency, Brent Locations: Palestine Square, Tehran, Israel, Iran, U.S, Damascus, Gulf of Oman, Hormuz, Anadolu

☆ Russia is expected to grow faster than all advanced economies this year
▼ + stars: | 2024-04-17 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesRussia's economy is expected to grow faster than all advanced economies this year, according to the International Monetary Fund. The prediction will be galling for Western nations which have sought to economically isolate and punish Russia for its 2022 invasion of Ukraine. In short, Russia has adapted to a "new normal" as its economy has been put on a war footing. The Washington-based IMF includes the U.S., U.K., the euro area's largest economies, Canada and Japan as advanced economies. "If you look at Russia, today, production goes up, [for the] military, [and] consumption goes down.

Persons: Vladimir Putin, Uralvagonzavod, Ramil Sitdikov, Kristalina Georgieva, CNBC's Dan Murphy, Georgieva, Elvira Nabiullina, Andrey Rudakov Organizations: Evraz Consolidated, Siberian Metallurgical, Bloomberg, Getty, International Monetary Fund, U.S, Sputnik, Afp, IMF, TU, CNBC, World Governments, Bank of Russia, Duma Locations: Evraz Consolidated West, Novokuznetsk, Russia, Germany, France, Ukraine, India, China, Russian, Urals, Nizhny Tagil, Washington, Canada, Japan, Europe, Asia, Kazan, Dubai, Soviet Union, Russia's

☆ Israel warns it has no choice but to respond to attack from Iran
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael warns it has no choice but to respond to attack from IranWorld leaders called for calm and an “utmost degree of restraint” in the aftermath of Iran’s large-scale air attacks on Israel. CNBC's Dan Murphy reports.

Persons: CNBC's Dan Murphy Organizations: Israel Locations: Iran, Israel

☆ Former Trump national security advisor John Bolton says Gaza war is still 'in the very early stages'
▼ + stars: | 2024-04-04 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Former U.S. national security advisor John Bolton believes Israel's war in Gaza is "still in the very early stages" and says it has been complicated by Iran's involvement. Framing the ongoing war between Israel and Hamas as "an Iranian war against Israel," Bolton told CNBC's Dan Murphy: "The fact that Iran has not yet been held to account for any of it, suggests that we're still in the very early stages of the war." "This is not a Gaza versus Israel war, or a Palestinian versus Israel war, or an Arab versus Israel war. This is an Iranian war against Israel, fought through terrorist proxies," he told CNBC on Wednesday. Bolton is a noted foreign policy hawk and has previously advocated for regime change by the U.S. in Iran.

Persons: John Bolton, Bolton, CNBC's Dan Murphy, we're, Israel Organizations: National Security, National Council of Resistance, U.S, Representative, Willard InterContinental Hotel, Washington , DC, Former U.S, Israel, Palestinian Islamist, CNBC, Wednesday, Bolton Locations: Iran, Washington ,, Gaza, Israel, Palestinian, Iranian, U.S, Syrian, Damascus, Tehran

☆ Turkey opts for new tightening strategy after signaling a pause to hikes
▼ + stars: | 2024-03-15 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

A picture taken on August 14, 2018 shows the logo of Turkey's Central Bank at the entrance of its headquarters in Ankara, Turkey. Turkey's central bank is opting for a different monetary tightening method as it grapples with climbing inflation, after previously signaling that its rate-hiking cycle was over. The institution sent a directive to lenders, effective Friday, instructing them to put parts of their required lira reserves into blocked accounts. Economic data platform Emerging Market Watch posted on X, describing the central bank as taking "another tightening step via reserve requirements." "Last week the CBRT tightened restrictions on lira loan growth, a move that would likely have a similar impact to an interest rate hike."

Persons: That's, Arda Tunca, Dan Murphy Organizations: Turkey's Central Bank, Reuters, CNBC, Capital Economics, FX, Economics Locations: Ankara, Turkey, Turkey's, Istanbul, Turkish, London

☆ Social media firms reject ‘shadow banning’ allegations on Palestinian-related content
▼ + stars: | 2024-03-06 | by ( Emma Graham | ) www.cnbc.com time to read: +2 min

Social media firms have responded to allegations of "shadow banning" their users for Palestinian-related content amid the conflict in Gaza, saying that the implication that Big Tech "deliberately and systemically suppress a particular voice" is false. They have been accused of blocking certain content or users from their online communities since the onset of the war between Israel and Hamas which started in October. Queen Rania Al Abdullah of Jordan, for example, criticized major platforms for allegedly limiting Palestinian-related content about the war. Yet, it is hard for users to trust platforms that control their content from the shadows, based on vague standards," Queen Rania told the Web Summit in Doha. Hussein Freijeh, the vice president of MENA for Snapchat, told CNBC's Dan Murphy at Web Summit Qatar last week that these firms have "a really important role to play in the region."

Persons: Queen Rania Al Abdullah of Jordan, Queen Rania, Hussein Freijeh, CNBC's Dan Murphy, Freijeh, Israel Organizations: Tech, Hamas, Human Rights, Snapchat, Web Summit Qatar, Meta, Facebook, Journalists Locations: Gaza, Israel, Doha, Palestine

☆ Etihad Airways CEO says he would like to cut costs by $100-150 million each year
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEtihad Airways CEO says he would like to cut costs by $100-150 million each yearEtihad Airways CEO Antonoaldo Neves tells CNBC's Dan Murphy that the airline saved more than $150 million in contract renegotiation and managed to block the effect of inflation in the cost lead sheet last year.

Persons: Antonoaldo Neves, CNBC's Dan Murphy Organizations: Etihad Airways, renegotiation

☆ Tour Etihad’s newest plane with the airline’s CEO
▼ + stars: | 2024-02-23 | by ( Dan Murphy | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTour Etihad’s newest plane with the airline’s CEOAntonoaldo Neves, CEO of Etihad Airways, gives CNBC's Dan Murphy an exclusive tour inside the airline's latest plane, the 787-9 Dreamliner.

Persons: Antonoaldo Neves, Dan Murphy Organizations: Etihad Airways

☆ Does the UAE need two major air carriers?
▼ + stars: | 2024-02-23 | by ( Dan Murphy | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDoes the UAE need two major air carriers? CNBC's Dan Murphy sits down with Antonoaldo Neves, CEO of Etihad Airways and asks whether the UAE needs both Emirates and Etihad?

Persons: Dan Murphy, Antonoaldo Neves Organizations: Etihad Airways, Emirates, Etihad Locations: UAE

☆ Etihad CEO: This is how we are going to deliver future profits
▼ + stars: | 2024-02-22 | by ( Dan Murphy | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEtihad CEO: This is how we are going to deliver future profitsCNBC's Dan Murphy sits down with Antonoaldo Neves, CEO of Etihad Airways, to discuss the airline's performance and future prospects.

Persons: CNBC's Dan Murphy, Antonoaldo Neves Organizations: Etihad, Etihad Airways

☆ China's biggest problem is a 'lack of confidence,' Standard Chartered CEO says
▼ + stars: | 2024-02-13 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

"China's biggest problem to me is a lack of confidence. External investors lack confidence in China and domestic savers lack confidence," Bill Winters, CEO of emerging markets-focused bank Standard Chartered, told CNBC's Dan Murphy Monday during a panel discussion. "But I think China is going through a major transition from old economy to new economy," Winters added. Investors are closely watching China, whose stock market gyrations, deflation problem and property woes are casting a shadow over the global growth outlook. Property and related industries account for about 25% of China's gross domestic product.

Persons: Bill Winters, CNBC's Dan Murphy, Winters Organizations: Chartered, International Monetary Fund Locations: DUBAI, United Arab Emirates, China

☆ Russia’s economy ‘in for very tough times’ despite improved growth outlook, IMF managing director says
▼ + stars: | 2024-02-12 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Kristalina Georgieva, managing director of the International Monetary Fund, at a press conference at the IMF Headquarters on April 14, 2023. DUBAI, United Arab Emirates — The head of the International Monetary Fund warned the Russian economy is still facing significant head winds despite receiving a recent growth upgrade by the Washington-based institution. Russia's economy has proven to be surprisingly resilient amid waves of Western sanctions in the nearly two years since it launched its full-scale invasion of Ukraine. Despite this, IMF Managing Director Kristalina Georgieva sees more trouble ahead for the country of roughly 145 million. "What it tells us is that this is a war economy in which the state — which let's remember, had a very sizeable buffer, built over many years of fiscal discipline — is investing in this war economy.

Persons: Kristalina Georgieva, CNBC's Dan Murphy, Georgieva, Vladimir Putin Organizations: International Monetary Fund, IMF, United Arab Emirates, World Governments, Defense, Reuters Locations: DUBAI, United Arab, Russian, Washington, Ukraine, Dubai, Russia, Soviet Union

☆ Lessons from COP: Charting a path for climate action
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLessons from COP: Charting a path for climate actionCNBC's Dan Murphy speaks to Badr Jafar, the CEO of Crescent Petroleum, Daniel F. Feldman, partner at Covington, and Rachel Kyte, founding co-chair at The Voluntary Carbon Markets Integrity Initiative.

Persons: Dan Murphy, Badr Jafar, Daniel F, Feldman, Rachel Kyte Organizations: Crescent Petroleum, Covington, Initiative

☆ Here's what happened at the 2024 World Economic Forum in Davos
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what happened at the 2024 World Economic Forum in DavosCNBC's Dan Murphy reports on what happened at the event against the backdrop of the Russia-Ukraine war, soaring tensions in the Middle East and the United States' election year.

Persons: Davos CNBC's Dan Murphy Organizations: Davos CNBC's Locations: Davos, Russia, Ukraine, United States

☆ Israel's ban on Palestinian workers is causing supply shocks to its economy: central bank governor
▼ + stars: | 2024-01-18 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

"And it's primarily in the construction industry where ... a third of that industry is Palestinians from the West Bank, and now they're not coming in to work." "It's also affecting agriculture, where they are in, and there are other foreign workers," Yaron said. watch nowThe ban on most of these workers returning to their employment in Israel has dramatically hurt the economy of the West Bank. In late December, Israel's finance ministry warned that the ban on Palestinian workers could cost Israel's economy billions of shekels per month. Fifty percent of the sites are closed and there is an impact on Israel's economy and the housing market."

Persons: Amir Yaron, Kobi Wolf, CNBC's Dan Murphy, Yaron, Raul Sargo Organizations: Bank of Israel, Bloomberg, Getty, Economic, West Bank, Israel, Times, Israel Builders Association Locations: Jerusalem, Israel, Davos, Gaza, Times of Israel, Thailand

☆ Iran warns the U.S. not to 'tie their destiny' to the fate of Israel's Netanyahu
▼ + stars: | 2024-01-17 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Iran's foreign minister warned the U.S. not to "tie their destiny" to the fate of Prime Minister Benjamin Netanyahu, and said Washington's full support for Israel is "the root of insecurity in the region." "The U.S. should not, Mr. [Joe] Biden should not tie their destiny to the fate of Netanyahu," Iran's Foreign Minister Hossein Amir-Abdollahian told CNBC's Dan Murphy on the sidelines of the World Economic Forum in Davos. The U.S. has expressed steadfast support for Israel in its war against Hamas in Gaza. In the aftermath of the attack, U.S. President Joe Biden flew to the country in a show of solidarity, pledging billions of dollars in military support. "The full-scale cooperation of Biden and the White House with thugs like Netanyahu in Israel is the root of insecurity in the region," Amir-Abdollahian added.

Persons: Benjamin Netanyahu, Joe, Biden, Netanyahu, Hossein Amir, Abdollahian, CNBC's Dan Murphy, Joe Biden, Antony Blinken, Amir Organizations: Israel, Economic, Hamas, White Locations: U.S, Davos, Israel, Gaza, Palestinian

☆ Israel is a dynamic and resilient economy that will bounce back, Bank of Israel governor says
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael is a dynamic and resilient economy that will bounce back, Bank of Israel governor saysAmir Yaron, Bank of Israel governor, speaks to CNBC's Dan Murphy about the economic challenges the country is facing amid the war in Gaza.

Persons: Amir Yaron, CNBC's Dan Murphy Organizations: Israel, Bank of Israel Locations: Gaza

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