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☆ The Orfali Bros Bistro is the best restaurant in the Middle East and North Africa — again
▼ + stars: | 2024-03-19 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +7 min

We love food, and we love people who love food,” says Orfali. Orfali Bros BistroA multicultural menuOrfali left Syria in 2006, relocating to Dubai a year later, and his brothers followed. “Different nationalities, different colors, different languages, different accents. Orfali Bros BistroA “flourishing” food sceneDubai’s restaurant scene has, until recently, been dominated by celebrity chefs and international franchises. “We build a relationship between us and the guests, and we make it family,” Orfali says.

Persons: CNN —, Mohamad Orfali, Treet Bel Laban ” —, ”, Orfali —, Mohamad, Omar, We’re, Orfali, “, Mohammad, barak, they’ve, Orfali Bros, Eclair, Samantha Wood, “ Mohamad, Wood, Chez Wam, ” Orfali, “ It’s Organizations: CNN, Michelin, ”, Orfali, UAE, Dubai, “, Bros Locations: Aleppo, Syria, Dubai, East, North Africa, Orfali’s, UAE, Lebanese, Sichuan, , “ Dubai, Hokkaido, Turkish

NOORDWIJKERHOUT, Netherlands (AP) — Theo works weekdays, weekends and nights and never complains about a sore spine despite performing hour upon hour of what, for a regular farm hand, would be backbreaking labor checking Dutch tulip fields for sick flowers. Photos You Should See View All 60 Images“You could also buy a very nice sports car," for the price of the robot, Visser said Tuesday — its makers say the robot costs 185,000 euros ($200,000). “But I prefer to have the robot because a sports car doesn’t take out the sick tulips from our field. Yeah, it is expensive, but there are less and less people who can really see the sick tulips,” he added. Theo van der Voort, who gave his name to the robot at WAM Pennings farm, and who retired after 52 years hunting for sick flowers, is impressed.

Persons: — Theo, ”, Allan Visser, Visser, ” Visser, Erik de Jong, Theo van der, “ Organizations: H2L Robotics Locations: Netherlands

☆ Saudi Arabia, Russia and several OPEC+ producers extend voluntary crude supply cuts until end of June
▼ + stars: | 2024-03-03 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023Heavyweights Saudi Arabia and Russia, alongside several other key OPEC+ producers, will extend their voluntary crude supply cuts until the end of the second quarter. Saudi Arabia will stretch out its voluntary crude production cut of 1 million barrels per day until the end of the second quarter, the state-owned Saudi Press Agency said Sunday, citing an official source from the country's Ministry of Energy. Riyadh's crude production will be approximately 9 million barrels per day until the end of June, the announcement said. Back in November, OPEC+ countries had held a formal policy of collectively reducing their output by 2 million barrels per day until the end of 2024. Unlike formal policy changes, voluntary cuts do not require the group's unanimous consent during an official meeting and bypass the need to distribute production cuts or increases among OPEC+ members.

Persons: Energy Prince Abdulaziz bin Salman al, Saud, Alexander Novak, —, Prince Abdulaziz bin Salman Organizations: Saudi, Energy, OPEC, Organization for, Petroleum, Saudi Press Agency, country's Ministry of Energy, Tass, Moscow, Google, INA, Hamas, Saudi Energy Locations: Vienna, Saudi Arabia, Russia, OPEC, Riyadh, Moscow, Russian, Iraq, UAE, Iran, Gaza, China, Aramco

☆ UAE Says Mediation Efforts Led to Russia, Ukraine Swap of 100 Prisoners Each
▼ + stars: | 2024-02-09 | by ( Feb. | At A.M. | ) www.usnews.com time to read: 1 min

DUBAI (Reuters) - The United Arab Emirates said it succeeded in mediating the release of 100 Russian prisoners of war in exchange for 100 war prisoners from the Ukrainian side. Russia's Defence Ministry, in a post on the Telegram messaging app, noted the UAE's "humanitarian mediation", as did Ukrainian President Volodymyr Zelenskiy and the Ukrainian body overseeing exchanges of POWs. The UAE's foreign ministry said it is the third mediation effort between Russia and Ukraine this year adding that it is calling for diplomacy, dialogue, and de-escalation, state news agency WAM reported. (Reporting by Nayera Abdallah; Editing by Kim Coghill)War in Israel and Gaza View All 194 ImagesThe Latest Photos From Ukraine View All 91 Images

Persons: Volodymyr Zelenskiy, WAM, Nayera Abdallah, Kim Coghill Organizations: Reuters, United Arab, Russia's Defence Ministry Locations: DUBAI, United Arab Emirates, Ukrainian, Russia, Ukraine, Israel, Gaza

☆ UAE's Masdar to develop 150 MW solar project in Angola
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Dec 2 (Reuters) - Abu Dhabi Future Energy Company, known as Masdar, is planning to develop a 150 megawatt solar power project in Angola to provide renewable energy to 90,000 homes and support economic growth, including jobs, the UAE state news agency WAM said on Saturday. Angola’s Ministry of Energy and Water and Masdar, the Gulf state's clean energy developer, signed a concession agreement to build and operate the ground-mounted solar power project in the Quipungo region of southern Angola, the statement said. The project is part of a wider commitment made by Masdar this year to develop 5 gigawatts (GW) of renewable energy projects across Angola, Uganda and Zambia. "Africa has what it takes to become the world’s renewable energy powerhouse," Sultan Al Jaber, COP28 president, said in the statement. Angola wants to increase its national electrification to around 60% by 2025; less than half of the population has access to electricity at present, the statement said.

Persons: WAM, Sultan Al Jaber, Rachna Uppal, Kevin Liffey Organizations: Abu Dhabi Future Energy Company, United, United Arab Emirates, Angola’s Ministry of Energy, Thomson Locations: DUBAI, Abu Dhabi, Angola, UAE, United Arab, Quipungo, Uganda, Zambia, Africa

☆ UAE Condemns Israeli Ground Operations in Gaza Strip -State News Agency
▼ + stars: | 2023-10-28 | by ( Oct. | At P.M. | ) www.usnews.com time to read: 1 min

CAIRO (Reuters) - The United Arab Emirates (UAE) on Saturday condemned the Israeli ground operations in the Palestinian Gaza Strip, the state news agency WAM reported, citing the country's foreign ministry. UAE, which became the first Gulf country to normalise relations with Israel in 2020, also "expressed its deep concern over the Israeli military escalation and exacerbation of the humanitarian crisis that threatens more loss of civilian lives."

Persons: WAM Organizations: United Arab Emirates, UAE Locations: CAIRO, UAE, Palestinian, Israel

☆ Airlines suspend Israel flights amid Gaza war
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +2 min

Here are airlines that have temporarily halted flights to and from Israel:AMERICASOn Sunday, U.S. carriers United Airlines (UAL.O), Delta Air Lines (DAL.N) and American Airlines (AAL.O) suspended direct flights to Tel Aviv. ASIAHainan Airlines (600221.SS), the only Chinese airline to fly between China and Israel, cancelled flights between Tel Aviv and Shanghai on Monday. EUROPEAll airlines owned by Germany's Lufthansa (LHAG.DE) cancelled flights to and from Tel Aviv through Monday. Britain's easyjet (EZJ.L) halted flights with Tel Aviv on Sunday and Monday, and would adjust the timing of flights in the next few days. Portugal's TAP cancelled flights to and from Tel Aviv scheduled for Sunday and Monday.

Persons: Britain's, Finland's, Monday . Virgin Atlantic, Alessandro Parodi, Milla Nissi, Bernadette Baum Organizations: Israeli, El, Abu Dhabi International Airport, United, United Arab Emirates, Presidential Affairs, REUTERS, Sunday, United Airlines, Delta Air Lines, American Airlines, Tel Aviv . United, ASIA Hainan Airlines, . Cathay, HK, . Korean, Germany's Lufthansa, Air France KLM, Portugal's TAP, Iberia Express, Monday . Virgin, Etihad Airways, Thomson Locations: Abu Dhabi, United Arab, Handout, Tel Aviv, Israel, U.S, ASIA, China, Shanghai, Hong Kong, Incheon, EUROPE, Madrid, Gdansk

☆ Investors can get a 5% yield in these assets and skip the bond market volatility
▼ + stars: | 2023-10-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investing in money market funds The interest in money market funds began to heat up when the Federal Reserve started raising interest rates last year, Antoniewicz said. Some $64.13 billion flowed into money market funds the week ended Wednesday, bringing total net assets to a record $5.71 trillion, per the Investment Company Institute . Net assets also hit a record within retail money market funds, reaching $2.16 billion, the ICI said. The annualized 7-day yield yield on the Crane 100 list of the 100 largest taxable money funds is currently 5.18%. "So if you have stability in a money market fund and an equal or higher yield, why would anyone consider leaving a money market fund to go longer term and have the volatility?"

Persons: Peter Crane, Jean Boivin, Shelly Antoniewicz, Antoniewicz, Barry Glassman, Glassman, I'm Organizations: Crane, Treasury, Federal Reserve, BlackRock Investment Institute, Investment Company Institute, ICI, Data, Wealth Services

☆ UAE's total revenue rose 32% in 2022
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

DUBAI, Sept 18 (Reuters) - The United Arab Emirates (UAE) saw revenue increase 31.8% in revenue in 2022, its finance minister said on Sunday, supporting an overall fiscal surplus last year. One of the Gulf's most diversified economies, the UAE has been developing its non-oil sectors, focusing on areas such as trade, tourism, manufacturing and logistics and financial services. It gave no figure for the full-year fiscal surplus but in May the central bank said the surplus hit $46 billion in the first nine months of 2022, supported by strong oil and non-oil revenue growth as well as high oil prices. Growth in acquisitions of non-financial assets doubled, up 94.5% in 2022 on the year. ($1=3.6726 UAE dirham)Reporting by Rachna Uppal; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: WAM, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Rachna Uppal, Clarence Fernandez Organizations: United Arab Emirates, Thomson Locations: DUBAI, UAE

The UAE introduced a new regulatory body to oversee commercial gaming on Monday, made up of casino and gambling experts from the United States. Gambling is currently illegal in the UAE, where some laws are based on the Quran, which forbids the practice. The new federal body, called the General Commercial Gaming Regulatory Authority (GCGRA), would create a “regulatory framework for a national lottery and commercial gaming,” according to Emirati state media WAM. “[GCGRA will] facilitate unlocking the economic potential of commercial gaming responsibly,” WAM said. “I look forward to establishing a robust regulatory body and framework for the UAE’s lottery and gaming industry,” Mullally said on his new appointment, according to WAM.

Persons: ” WAM, Kevin Mullally, Jim Murren, Mullally, ” Mullally, Ras Al Khaimah, Craig Billings, ” Billings Organizations: Abu Dhabi CNN —, United Arab, Gaming Regulatory Authority, Industry, MGM Resorts International, MGM, Gaming Laboratories, Wynn Resorts, United, WYNN, Wynn Hotels, Global, Caesars Entertainment, Royal, Royal Caribbean Cruise, UAE, Costa Cruises, Bloomberg Locations: Abu Dhabi, United Arab Emirates, UAE, United States, Ras Al, Dubai, Royal Caribbean, Singapore

☆ Why 2024 will be a good year for Australian equities - Wilson Asset Management
▼ + stars: | 2023-07-24 | 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 EmailWhy 2024 will be a good year for Australian equities - Wilson Asset ManagementMatthew Haupt of the WAM Leaders fund discusses why he is cautious on the near-term prospects for Australian equities but is optimistic that they will perform well next year.

Persons: Matthew Haupt Organizations: Wilson Asset, WAM

☆ Japan and UAE agree innovation, climate change cooperation
▼ + stars: | 2023-07-17 | by ( Rachna Uppal | ) www.reuters.com time to read: +4 min

State news agency WAM also said the two leaders discussed a comprehensive strategic partnership between the UAE and Japan. Japan is actively developing greener and renewable energy technologies and aims to be carbon neutral by 2050. Kishida will also try to promote Japanese know-how as energy-producing countries have pledged to achieve a net zero transition, especially ahead of the COP28 climate summit to be held in Dubai in November. The GCC is a six-nation regional union that comprises Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "The secure energy supply from the UAE has supported Japan's economic growth for many years," Kishida wrote in a piece published by UAE state news agency WAM on Sunday.

Persons: Mohamed bin Zayed Al Nahyan, Kishida, Ryan Carter, Fumio Kishida's, Sheikh Mohammed bin Zayed Al Nahyan, WAM, Saudi Crown Prince Mohammed bin Salman, Hikariko Ono, Rachna Uppal, Sakura Murakami, Andrew Mills, Aziz El Yaakoubi, Conor Humphries, David Evans, Alex Richardson, Jacqueline Wong Organizations: United Arab Emirates, United, UAE, United Arab, Japan, Qatar, Saudi Crown, Cooperation Council, GCC, Abu Dhabi National Oil Company, Thomson Locations: Japan, Qasr Al Watan, Abu Dhabi, United Arab, ABU DHABI, United Arab Emirates, UAE, State, Dubai, Saudi Arabia, Riyadh, Tokyo, Saudi, Qatar, Kuwait, Oman, Bahrain

☆ Swedish embassy in Baghdad: Protesters break in after Stockholm Quran burning
▼ + stars: | 2023-06-29 | by ( Mostafa Salem | ) edition.cnn.com time to read: +2 min

CNN —Demonstrators breached the perimeter of the Swedish embassy in Baghdad Thursday, a day after a protester burned a copy of the Quran in Sweden. Videos circulating on social media showed some protesters climbing over a barricaded wall outside the embassy. Muslim countries and Islamic organizations had condemned the burning of the Quran in Stockholm. On Thursday, the United Arab Emirates summoned Sweden’s ambassador to Abu Dhabi to protest the Quran burning incident, the UAE’s state news agency WAM said. In January early this year Iraqi protesters clashed with security forces outside the Swedish embassy for a separate incident of Quran burning in Stockholm.

Persons: Muqtada, Sadr, Al Sadr, Momika, ” Al Sadr, it’s, Sweden’s, Abu, WAM Organizations: CNN, Embassy, Ministry for Foreign Affairs, AFP, of Islamic Cooperation, Arab League, Gulf Cooperation Council, United Arab Emirates Locations: Swedish, Baghdad, Sweden, Muqtada al, Iraqi, Stockholm, Stockholm –, Iraq, Iran, Kuwait, Morocco, Saudi Arabia, Abu Dhabi

☆ Leaders of Russia, UAE hold phone call on mutiny attempt in Russia
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

June 26 (Reuters) - Leaders of Russia and the United Arab Emirates held a phone call, the Kremlin and UAE's state news agency said on Monday. According to the Kremlin, United Arab Emirates President Sheikh Mohammed bin Zayed al-Nahayan was interested in hearing an assessment of the situation in Russia in connection with the Wagner group mutiny on June 24. "Having received comprehensive information, the Emirati leader declared full support for the actions of the Russian leadership." UAE's state news agency WAM said both leaders discussed bilateral relations and reaffirmed the need to preserve the stability of Russia and the safety of its people. (This story has been corrected to change the title of Sheikh Mohammed bin Zayed Al Nahyan to 'United Arab Emirates president' instead of 'Abu Dhabi crown prince' in paragraph 2)Writing by Maxim United Arab Emirates President Sheikh Mohammed bin Zayed al-NahayanRodionov Editing by Chris Reese and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Sheikh Mohammed bin Zayed, Nahayan, Wagner, WAM, Sheikh Mohammed bin Zayed Al Nahyan, Abu, Chris Reese, Lisa Shumaker Organizations: Russia, United Arab Emirates, Kremlin, Maxim United Arab Emirates, Thomson Locations: Russia, Abu Dhabi

While on a working visit to Russia, the UAE president briefly toured the country’s pavilion at the St. Petersburg International Economic Forum (SPIEF). For the UAE, this is a “calculated risk” it is willing to take, part of the Gulf nation’s policy of de-escalation and dialogue in an increasingly polarized world, a top UAE official told CNN in exclusive comments on Thursday. “This polarization has to be broken,” Anwar Gargash, the diplomatic adviser to the UAE president, said. Meanwhile, its bilateral trade with Russia increased by 68% to $9 billion in 2022, mostly Russian exports to the UAE. But the UAE’s policy towards Russia has invited warnings from the US that individuals and institutions that allow Russia to evade sanctions risk losing access to G7 markets.

Persons: Mohamed bin Zayed, ” Sheikh Mohammed, Putin, ” Anwar Gargash, “, Sheikh Mohamed, Gargash, ”, ” Gargash, Brittney, Victor Bout, Sheikh Mohamed’s, Griner, Dina Esfandiary, Abdullah bin Touq Al Marri, Esfandiary Organizations: UAE CNN —, West, United Arab Emirates, St ., Economic, UAE, CNN, Putin, Crisis Locations: Abu Dhabi, UAE, Ukraine, Russia, St, St . Petersburg, “, Europe, East, North Africa, United States, Al Dhafra, Israel, China, Iran, Turkey, SPIEF, Emirates

☆ UAE says withdrew from U.S.-led maritime coalition two months ago
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

DUBAI, May 31 (Reuters) - The United Arab Emirates withdrew from a U.S.-led Middle East maritime security coalition two months ago after evaluating its security relationships, the Gulf state said early on Wednesday. The Combined Maritime Forces is a 34-nation task force, headquartered at the U.S. naval base in Bahrain, working on security, counter-terrorism and counter-piracy in the Red Sea and Gulf areas. "As a result of our ongoing evaluation of effective security cooperation with all partners, two months ago, the UAE withdrew its participation in the Combined Maritime Forces," the Ministry of Foreign Affairs said in a statement carried by state news agency WAM. Five weeks ago, Iran seized two tankers within a week in Gulf waters near the Strait of Hormuz. The U.S. Navy and the UAE Ministry of Foreign Affairs did not immediately respond to requests for comment.

Persons: Lisa Barrington, Christopher Cushing Organizations: United Arab Emirates, Combined Maritime Forces, U.S, UAE, Ministry of Foreign Affairs, Wall, U.S . Navy, UAE Ministry of Foreign Affairs, Thomson Locations: DUBAI, U.S, East, Bahrain, United States, Iran, UAE, Hormuz, Dubai

☆ UAE central bank lifts base rate by 25 bps to match Fed –state news agency
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: 1 min

DUBAI, March 23 (Reuters) - The Central Bank of the United Arab Emirates will raise its base interest rate by 25 basis points to 4.9%, effective Thursday, state news agency WAM said, matching the U.S. Federal Reserve's hike, as the dirham is pegged to the dollar. The central bank will maintain the rate on borrowing short-term liquidity from the CBUAE through all standing credit facilities at 50 basis points above the base rate, WAM said. Reporting by Yomna Ehab in Cairo; Writing by Yousef Saba; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ UAE withdraws bid for 2026 World Bank-IMF meetings in favour of Qatar
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] A general view of the Burj Khalifa and the downtown skyline in Dubai, United Arab Emirates, June 12, 2021. The decision came during a phone call between UAE President Sheikh Mohammed bin Zayed Al Nahyan and Qatar's emir Sheikh Tamim bin Hamad al-Thani, statements from state news agency WAM and the Amiri Diwan said. In Sunday's phone call, Sheikh Mohammed pledged the UAE's support for Qatar's bid to host the meetings and "wished the Emir and the people of Qatar every success in hosting this global gathering," WAM's statement said. But relations between Abu Dhabi and Doha have warmed in recent months with Sheikh Mohammed visiting Qatar during the soccer World Cup last December. Abu Dhabi, like Manama, has not appointed an envoy to Doha, but restored travel and trade links with Qatar.

☆ UAE cbank studying options after UAE licensed Russian bank sanctioned
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Feb 24 (Reuters) - The central bank of the United Arab Emirates is studying available options regarding the new status of Russia's MTS bank which it licensed to operate in the Gulf country last year, a state news agency WAM said on Friday. The Russian lender was part of a new sanctions package announced on Friday. "The Central Bank is studying now the available options regarding the new status of the bank and the appropriate decision will be taken in due course, considering the obligations incurred by the branch during the previous period," the statement said. Reporting by Rachna Uppal, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

CAIRO, Jan 15 (Reuters) - The United States and United Arab Emirates announced on Sunday that the first $20 billion of their $100 billion clean energy partnership would be allocated to fund 15 new gigawatts of renewable energy projects before 2035, state news agency WAM said. The investments would be led by UAE's Masdar and a consortium of US private investors, and financed through $7 billion in private sector cash equity and $13 billion in US debt financing and other instruments, WAM said. Reporting by Nayera Abdallah and Nafisa EltahirOur Standards: The Thomson Reuters Trust Principles.

☆ Taliban acting defence minister holds talks with UAE president
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

[1/3] President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan meets with Afghanistan's Acting Defence Minister Mullah Mohammad Yaqoob at Al-Shati Palace in Abu Dhabi, United Arab Emirates December 4, 2022. Ryan Carter/UAE Presidential Court/Handout via REUTERSKABUL, Dec 5 (Reuters) - The acting defence minister of the Afghan Taliban has met the president of the United Arab Emirates (UAE), Sheikh Mohammed bin Zayed al-Nahyan, for talks in Abu Dhabi on strengthening relations, his ministry and UAE state media reported on Monday. The acting defence minister, Mullah Yaqoob, is the son of the late supreme leader of the Taliban, Mullah Omar, and the meeting with the UAE president is a rare encounter between a senior member of the group and a foreign head of state. The UAE news agency released photographs of the talks that showed another senior Taliban figure, Anas Haqqani, was present at the talks. The meeting with the UAE president comes after the Taliban, in September, signed a final contract for running Afghanistan's airports with the UAE company GAAC Holding, which had beat out rival bids from Qatar and Turkey.

☆ Major Gulf markets fall after Fed warning
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

Nov 14 (Reuters) - Major stock markets in the Gulf retreated in early trade on Monday after a top U.S. central banker warned investors against getting carried away over one inflation number. Saudi Arabia's benchmark stock index (.TASI) dropped 1.3%, dragged down by a 4.1% slide in Retal Urban Development Co (4322.SE) and a 1.3% decline in Al Rajhi Bank (1120.SE). The kingdom's Public Investment Fund sold a 10% stake in the firm through a secondary share offering, raising 2.3 billion riyals ($612 million). The fund sold 12 million shares through an accelerated bookbuild offering at 191 riyals each, a 9% discount to Thursday's closing price. Dubai's main share index (.DFMGI) fell 0.4%, hit by a 0.9% fall in blue-chip developer Emaar Properties (EMAR.DU).

☆ COP27: UAE and Egypt agree to build one of world's biggest wind farms
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +3 min

The Memorandum of Understanding was signed between the UAE's renewable energy firm Masdar alongside its joint venture with Egypt's main renewable energy developer Infinity and Hassan Allam Utilities, the statement on news agency WAM said. "With this agreement to develop our largest ever project, Masdar is proud to bolster our contribution to Egypt's renewable energy goals," Masdar's CEO Mohamed Jameel al-Ramahi said. When completed, the wind farm would be part of Egypt's Green Corridor initiative, a grid dedicated to renewable energy projects that is aimed at ensuring renewable energy makes up 42% of the country's energy mix by 2035. The wind project would save Egypt an estimated $5 billion in annual natural gas costs, the statement said. Egypt's total installed power capacity was around 59.5 GW in 2019/2020, the country's renewable energy authority said in an annual report.

☆ UAE and U.S. reach deal for $100 billion in clean energy projects
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

ABU DHABI, Nov 1 (Reuters) - The United States and United Arab Emirates have reached an agreement to spend $100 billion on clean energy projects with a goal of adding 100 gigawatts globally by 2035, U.S. Secretary of State Antony Blinken said on Tuesday. The two governments signed a memorandum of understanding in Abu Dhabi setting out the framework of the deal, Blinken said in a statement. "This memorandum of understanding is an important step forward in our joint efforts to accelerate our collective movement toward clean energy," Blinken said. Under the initiative, the UAE, an OPEC oil producer, and the United States would provide technical, project management and funding assistance for commercially and environmentally sustainable energy projects in other countries. The statement said the partnership would "assemble and stimulate" private and public sector funding and support for clean energy innovation, carbon and methane management, advanced reactors including small modular reactors, and industrial and transport decarbonisation.

☆ UAE, U.S. sign strategic partnership agreement worth $100 bln in clean energy projects - WAM
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: 1 min

ABU DHABI, Nov 1 (Reuters) - The United Arab Emirates and the United States signed a strategic partnership agreement to invest $100 billion in clean energy projects with a production capacity of 100 gigawatts by 2035, state news agency WAM reported on Tuesday. Reporting by Ahmed Tolba; Writing by Lina Najem; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

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