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☆ Opinion: Small-town water systems are global cyber targets. Is your city next?
▼ + stars: | 2024-04-28 | by ( Opinion Robert M. Lee | ) edition.cnn.com time to read: +8 min

The town of Abernathy also reported a water system hack, and the towns of Lockney and Hale Center said hackers tried to breach their water infrastructure but did not succeed. Unlike how David was ready to take on Goliath, our most vulnerable critical infrastructure systems – including water infrastructure – are ill-prepared. The water attacks we’ve seen so far have not had serious consequences for the people they serve. According to the EPA, 90% of the nation’s community water systems are small, public systems bringing water to 10,000 or fewer customers. If we really want to help water utilities defend against cyber threats, we have to close the resource gap.

Persons: Robert M, Lee Dragos, David, we’ve, –, Iran –, Homeland Security’s Organizations: CNN, Cyber Army, Hale Center, Islamic Revolutionary Guard Corps, FBI, Rehabilitation, Government, Department, Homeland, Infrastructure Security Agency, National Security Agency, Environmental Protection Agency, Department of Homeland, Local Locations: Russia, Texas, Muleshoe, Abernathy, Lockney, Aliquippa , Pennsylvania, United States, China, North Korea, Iran, Department of Homeland Security’s State

LAS VEGAS (AP) — A Nevada jury has awarded about $130 million in damages in a lawsuit filed by five people who suffered liver damage after drinking bottled water marketed by a Las Vegas-based company before the product was recalled from store shelves in 2021. Real Water attorney Joel Odou argued that the company was unintentionally negligent, not reckless, the Las Vegas Review-Journal reported. The Southern Nevada Water Authority, the region's main public supplier, monitors and tests for 166 different possible contaminants, spokesman Bronson Mack said Thursday. Mack noted that the water authority was not a defendant in the lawsuits and said the area's municipal water supply meets or surpasses all federal Safe Drinking Water Act standards. Real Water was sold for at least eight years, primarily in Central and Southern California, Las Vegas, Phoenix and Utah.

Persons: Myles Hunwardsen, Henderson, ” Will Kemp, Kemp, Affinitylifestyles.com, Brent Jones, Jones, Herbst, Joel Odou, Bronson Mack, Mack Organizations: LAS VEGAS, AffinityLifestyles.com Inc, Republican, Telephone, Foods, Costco Wholesale, Hanna Instruments, Milwaukee Instruments, Water, Las Vegas, Las, The Southern, The Southern Nevada Water Authority, U.S . Food, Drug Administration, Clark County Health District Locations: Nevada, Las Vegas, Clark County, Lake, Hoover, Colorado, The, The Southern Nevada, Central, Southern California, Phoenix and Utah, U.S

The Ely Shoshone, Duckwater Shoshone, and the Confederated Tribes of the Goshute Reservation — a coalition representing about 1,500 enrolled tribal members — are lobbying the federal government to designate nearly 40 square miles (100 square kilometers) as Bahsahwahbee National Monument. He testified in a multi-decade legal battle alongside ranchers, local officials and environmental groups who all opposed the project by the Southern Nevada Water Authority. Protecting water for sacred trees is not something the agency had previously done, Sullivan said. Even if the land becomes a national monument, the water beneath Bahsahwahbee would remain under the state’s jurisdiction. The Southern Nevada Water Authority supports a monument designation that allows for the continuation of existing ranching and agricultural activities, said Bronson Mack, water authority spokesman.

Persons: ELY, — White, ”, Warren Graham, Mamie Swallow, Spilsbury, Charlene Pete’s, —, ” Pete, Ely Shoshone, Alvin Marques, David Charlet, ” Charlet, Adam Sullivan, Sullivan, Neal Desai, Bahsahwahbee, Graham, Bronson Mack, Avi Kwa, Joe Biden, Catherine Cortez Masto, Jacky Rosen, Deb Haaland, Cortez Masto’s, Monte Sanford, “ Organizations: Rocky, Ely Shoshone, Southern Nevada Water Authority, College of Southern, Nevada Division of Water Resources, Southern, Southern Nevada Water, National Park Service, National Parks Conservation Association, National Register of Historic Places, Land Management, The Southern, The Southern Nevada Water Authority, Nevada Legislature, United, Associated Press, Walton Family Foundation, AP, Press, Lilly Endowment Inc Locations: Nev, Nevada, Ely, Duckwater Shoshone, ”, Bahsahwahbee, Vegas, College of Southern Nevada, Southern Nevada, The, The Southern Nevada, Arizona, U.S, United States

HARRISBURG, Pa. (AP) — A small western Pennsylvania water authority was just one of multiple organizations breached in the United States by Iran-affiliated hackers who targeted a specific industrial control device because it is Israeli-made, U.S. and Israeli authorities say. The group targeted the Unitronics devices at least since Nov. 22, it said. The advisory notes that Unitronics devices ship with a default password, a practice experts discourage as it makes them more vulnerable to hacking. It says the hackers likely accessed affected devices by “exploiting cybersecurity weaknesses, including poor password security and exposure to the internet.”Experts say many water utilities have paid insufficient attention to cybersecurity. Americans must know their drinking water and other basic infrastructure is safe from “nation-state adversaries and terrorist organizations,” U.S. Sens.

Persons: Matthew Mottes, CISA, Unitronics —, John Fetterman, Bob Casey, Chris Deluzio, Av3ngers, Sergey Shykevich, Unitronics, Biden Organizations: FBI, Environmental Protection Agency, Infrastructure Security Agency, Directorate, Associated Press, Municipal Water Authority, Islamic Revolutionary Guards Corps, ”, U.S . Justice Department, U.S . Rep Locations: HARRISBURG, Pa, Pennsylvania, United States, Iran, Israeli, Aliquippa, Israel, Gaza, U.S, Sens, Missouri , Arkansas, Iowa

The Aliquippa water authority's chairman, Matthew Mottes, said federal officials told him that hackers also breached four other utilities and an aquarium. The device breached in Pennsylvania was made by Israel-based Unitronics, according to the U.S. Cybersecurity and Infrastructure Security Agency. Known as a programmable logic controller, it is used across a wide spectrum of industries including water and sewage-treatment utilities, electric companies and oil and gas producers. Experts say many water utilities have paid insufficient attention to cybersecurity. In Pennsylvania, the hack prompted the water authority to temporarily halt pumping Saturday in a remote station that regulates water pressure for customers in two nearby towns.

Persons: John Fetterman, Bob Casey, Chris Deluzio, ”, ” Fetterman, Casey, Deluzio, General Merrick Garland, “, ‘, Israel ’, Matthew Mottes, We’ve, that’s, ” Mottes, Sergey Shykevich, Unitronics, Crews, Biden Organizations: U.S . Justice Department, U.S . Rep, Municipal Water Authority, Twitter, U.S, Cybersecurity, Infrastructure Security Agency, Environmental Protection Agency Locations: HARRISBURG, Pa, Pittsburgh, Sens, Pennsylvania, United States, Israel, Aliquippa , Pennsylvania, Iran, hacktivism, Gaza, U.S, Missouri , Arkansas, Iowa

☆ San Diego temporarily solved its water crisis by turning ocean water into fresh water. But desalination won't work everywhere.
▼ + stars: | 2023-10-28 | by ( Maiya Focht | ) www.businessinsider.com time to read: +9 min

The largest desalination plant in the US is in San Diego. AdvertisementAdvertisementIn the early 1990s, San Diego was dying on the vine, starved of water in a series of yearslong droughts. At the last minute, a miracle saved San Diego — rain and snow in the desert replenished aquifers, saving the city from intense cutbacks. AdvertisementAdvertisementThe desalination plant produces potable water for San Diego county. With these easier options on the table, it's even more staggering that cities such as San Diego have pushed desalination efforts through.

Persons: —, Diegans, Jeremy Crutchfield, Claude, Bud, Lewis, It's, Crutchfield, Diego, Reed Kaestner, Robert Glennon, Frank Ward, Ward, Michelle Peters, Michael Hanemann, Glennon, Peters, Reed Kaestner, Hanemann, Allen J, Schaben Organizations: Service, Water Authority, Western, Getty, University of Arizona, Street Journal, New Mexico State University, Arizona State University, Water Locations: San Diego, Lewis Carlsbad, United States, Colorado, seeping, Mississippi, San Diego County , CA, Encina, San Diego County, Orange County , California, Carlsbad, Orange, California, Diego, San Diego county, Los Angeles, Columbia

Most of Gaza’s water comes from local sources – but the fuel required to pump and clean it is fast running out. As the water system collapses, some Gazans have been forced to drink dirty, salty water, sparking concerns of a health crisis and fears that people could start dying from dehydration. Without it, Gaza’s water system has crumbled. Gaza’s fuel supplies could be exhausted in as little as 48 to 72 hours, Ghunaim, from the PWA, said on Monday. Even before the conflict, many experts were saying the water situation would be “catastrophic in the future,” Hall said.

Persons: Mohammad Al Shanti, ”, Natasha Hall, Mazen Ghunaim, Mohammed Abed, Ghunaim, Richard Peeperkorn, “, Kellogg Schwab, ” Schwab, Al Shanti, Omar Shaban, COGAT, Mark Regev, Benjamin Netanyahu, Herzi Halevi, Philippe Lazzarini, ” Hall, ‘, Khan Younis, Mahmud Hams, Hall, Haitham Hassan, – Organizations: CNN, Aqsa, UNICEF, Palestinian Water Authority, UN, Health, Middle, Center for Strategic, International Studies, Oxfam, PWA, West Bank, CSIS, Johns Hopkins University ., Strategic Studies, Getty, WHO, Israel Defence Forces, UNRWA, “ Locations: Al, Gaza, Israel, Rafah, Egypt, AFP, “, Territories, Egypt’s, Khan

The last functioning desalination plant shut down on Sunday due to lack of fuel, as did the last functioning wastewater treatment plant, the UN reported. Israel turned on one line of water in the south of Gaza for three hours on Monday, but the UN relief agency in Gaza said it served only 14% of the population. Fuel shortages and dangerous airstrikes have also led most water trucks to suspend operations, and bottled water is severely limited and unaffordable, according to the UN. In 2021, about 90% of Gaza’s water came from groundwater wells, according to the Palestinian Water Authority. The remaining 10% of the water supply comes from the desalination plants or is purchased from Israel’s national water company, Mekorot.

Persons: Israel, Gazans Organizations: CNN — United Nations, UN, World Health Organization, Palestinian Water Authority, CNN Locations: Israel, Gaza, Khan Younis, Rafah, Egypt

The Rafah crossing between Gaza and Egypt is still closed, leaving humanitarian supplies piling up on the Egyptian side of the border. But, Israel has closed its two border crossings with Gaza and imposed a “complete siege” of the territory. That has left the Rafah crossing as the only viable outlet to get people out of the enclave – and supplies into it. Also complicating matters: border authorities have not managed to repair Israeli airstrike damage to the Gaza side of the Rafah border crossing, a Palestinian official said. Abu Obaida claimed 22 of the hostages in Gaza were killed in Israeli airstrikes (CNN cannot independently verify that claim).

Persons: Sameh Shoukry, Abu Odaida, Abu Obaida, Antonio Guterres, Rishi Sunak, Recep Tayyip Erdoğan, Benjamin Netanyahu, Antony Blinken, Yoav Gallant, Yair Lapid, Joe Biden, Netanyahu, White Organizations: Egypt’s, UN, UN Office, Humanitarian Affairs, European Commission, World Health Organization, Israel Defense Forces, IDF, CNN, United Nations, Hezbollah, British, Israeli, State Department, Pentagon, Hamas Locations: Rafah, Gaza, Egypt, Israel, Lebanon, Lebanese, Turkish, East

[1/5] Palestinians walk past piles of garbage that threaten to spark an environmental catastrophe, amid the ongoing Israeli-Palestinian conflict, in Khan Younis in the southern Gaza Strip. Two residents in Khan Younis, in the southern Gaza Strip, volunteered to fill plastic containers with water to distribute among displaced families. Hamas said on Monday that Israel had not resumed water supplies to Gaza despite pledging to do so. "Now, we're filling in salt water, I'm ready to drink from the salt water - what else can we do?" Even before the latest conflict erupted and Israel cut electricity and fresh water supplies to Gaza, 90 percent of the water was undrinkable, according to the Palestinian Water Authority.

Persons: Khan Younis, Mohammed Salem, Philippe Lazzarini, Israel, Israel Katz, Mohammad Saqr, Saqr, Mohammad Hadhoud, Michael Georgy, Janet Lawrence Organizations: Palestinian, Hamas, UNRWA, Israeli Energy, Palestinian Water Authority, Thomson Locations: Gaza, GAZA, Israeli, Khan, Israel, kibbutzes, Egypt, Palestinian

Following the deadly Hamas rampage across southern Israel on Oct. 7, which killed more than 1,300 people, Israel ordered an immediate cut-off of the country’s water supplies to the Gaza Strip. REUTERS/Ahmed ZakotOn Sunday, Israel’s energy minister said that a decision to renew water supplies to parts of southern Gaza was agreed on between Prime Minister Benjamin Netanyahu and U.S. President Joe Biden. On Monday, Hamas said that Israel had yet to resume water supplies for the Gaza Strip despite pledging to do so, while an Israeli official responded that some water was being provided to an area in the south of the enclave. Bar chart comparing the daily water consumption in litres per capita in Gaza and Israel. Map showing 3 desalination plants and 6 wastewater plants in the Gaza Strip.

Persons: Khan Younis, Ahmed Zakot, Benjamin Netanyahu, Joe Biden, Israel, ” Organizations: United Nations, REUTERS, U.S, Health, WHO, Palestinian Central Bureau of Statistics, Water, Palestinian Water Authority, Records, UNSCO Atlas, Sustainable, Resources, Israeli Information Center, Human Rights, World Bank Locations: Gaza, Israel, Sinai, Egypt, B’Tselem, Territories

☆ Israel-Hamas war: Diplomatic aid efforts ramp up for 'strangled' Gaza as regional conflict fears grow
▼ + stars: | 2023-10-16 | by ( Helen Regan Kareem El Damanhoury Eyad Kourdi Abeer Salman Abbaggini | Helen Regan | Kareem El Damanhoury | ) edition.cnn.com time to read: +10 min

“We all know water is life – Gaza is running out of water, and Gaza is running out of life. People walk amid the destruction of houses and streets in Khan Younis, located in the southern Gaza Strip. Meanwhile, Hamas is believed to be holding some 150 Israeli and foreign nationals hostage in the warren of tunnels underneath Gaza. It is also unclear if water is now flowing into southern Gaza. Israeli soldiers gather on and around a tank near Israel's border with the Gaza Strip, in southern Israel on October 15.

Persons: ”, ’, Joe Biden, Philippe Lazzarini, ” Lazzarini, “, Marwan Jilani, Khan Younis, Mohamed Zaanoun, Dominic Allen, ” UNRWA’s Lazzarini, Isaac Herzog, Antonio Guterres, Pope Francis, Ravina Shamdasani, doesn’t, ” Shamdasani, Herzog, Antony Blinken, Benjamin, Netanyahu, Sunday Blinken, China’s, Wang Yi, Israel, Zhai Jun, Jacquelyn Martin, Jordan, United States Michael Herzog, Stéphane Dujarric, Jonathan Conricus, Emmanuel Macron “, Ebrahim Raisi, Warthogs, Ronen Zvulun, Jake Sullivan, ” Sullivan Organizations: Jerusalem CNN, Israel’s, UN, Israel Defense Forces, United Nations Relief, Works Agency, “, CNN, Crescent, Getty, Population Fund, Sunday, Palestinian Health Ministry, UN Human Rights, Reuters, CNN Israel, CNN Sunday, Water Authority, East Sunday, CBS Sunday, US National Locations: Gaza, Jerusalem, Israel, Rafah, Egypt, Khan, Guterres, Cairo, Jordan, nonfunctional, United States, Israeli, Iran, Syria, Israel’s, Lebanon

☆ Gaza Strip: devastated by conflict and Israel's economic blockade
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +5 min

Palestinians look at the destruction of a house in the aftermath of a strike amid the conflict with Israel in Khan Younis, in the southern Gaza Strip, October 12, 2023. The Palestinian Gaza Strip has been a frontline of conflict with Israel for decades and cut off from much of the outside world for 16 years. Egypt held Gaza for most of the following two decades, until Israel seized it during a 1967 war. Egypt, which shares a 12-km border with Gaza, has largely supported the blockade, viewing Hamas as a threat to its own stability. More than 90% of water in Gaza is unfit for drinking, the Palestinian Water Authority says.

Persons: Khan Younis, Abu Mustafa, Mahmoud Abbas, Israel, Egypt's, Cross, Tom Perry, Crispian Balmer, Toby Chopra Organizations: REUTERS, Hamas, THE, Watch, Humanitarian Affairs, Palestinian Water Authority, West Bank, Palestinian Central Bureau, Statistics, International Committee, Thomson Locations: Israel, Gaza, Palestinian, GAZA, Gaza City, Egypt, Rafah

☆ Las Vegas is asking companies that want to move or expand there to show how much water they plan to use
▼ + stars: | 2023-09-15 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Las Vegas is trying to balance economic growth and water conservation. The producer plans to move to northern Las Vegas and requested $2.28 million in tax incentives from the Nevada Governor's Office of Economic Development. The water-investment tool works like this: First, the Southern Nevada Water Authority analyzes how much consumptive water a new or expanding company would use. Johnson said the next steps include making sure officials in every city in greater Las Vegas are using the tool in the same way. The water-investment tool builds on a long list of conservation measures in Las Vegas.

Persons: Dave Johnson, Johnson, there's, Tina Quigley, Quigley, Lake Mead Organizations: Service, revelers, Las Vegas, Southern Nevada Water Authority, Juanita's Foods, Nevada Governor's, Economic, Juanita's, Las Vegas Global Economic Alliance Locations: Vegas, Colorado, California, Phoenix, Las, Las Vegas, Nevada, Lake, Arizona . Nevada, Nevada , Arizona

AQUIFERS AQUIFERS AQUIFERS WASH. MAINE MONT. MONITORING WELLS MONITORING WELLS MONITORING WELLS WASH. MAINE MONT. FLA. DECLINING WELLS DECLINING WELLS DECLINING WELLS WASH. MAINE MONT. FLA. UNCHARTED WATERS America Is Using Up Its Groundwater Like There’s No Tomorrow Overuse is draining and damaging aquifers nationwide, a New York Times data investigation revealed. Groundwater level trends Rising Declining Groundwater level trends Rising Declining Groundwater level trends Rising Declining Groundwater level trends Rising Declining Note: Colors depict the median trend for each site over the previous 20 years.

☆ Dubai's DEWA selects Abu Dhabi's Masdar to construct solar park
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: 1 min

Saeed Al Tayer, Chief Executive Officer of Dubai Electricity and Water Authority (DEWA), speaks during the groundbreaking ceremony of the 4th phase of Mohammed bin Rashid Al Maktoum Solar Park, south of Dubai, United Arab Emirates March 19, 2018. Picture taken March 19, 2018. REUTERS/Satish Kumar/ File PhotoCompanies Dubai Electricity and Water Authority PJSC FollowDUBAI, Aug 13 (Reuters) - Dubai Electricity And Water Authority (DEWA) selected state-owned renewable energy firm Masdar to construct and manage the 1,800 MW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park with an estimated cost of up to 5.51 billion Emirati Dirhams, the Dubai media office said on Sunday. Reporting by Ahmed Elimam; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Saeed Al Tayer, Mohammed bin Rashid Al Maktoum, Satish Kumar, Ahmed Elimam, Andrew Heavens Organizations: Dubai Electricity, Water Authority, United Arab Emirates, REUTERS, Companies Dubai Electricity, Water, Thomson Locations: DEWA, Dubai, United Arab, DUBAI

Tesla has faced considerable delays to its planned opening date for the plant due to a high number of objections filed by local citizens, mainly over environmental impact and water usage. For the expansion, Tesla has committed to not using any additional water capacity, instead recycling the 1.4 million cubic metres of water it is licensed to use. When up to speed the plant would have a greater output than Volkswagen's Wolfsburg plant, which would trail behind at a capacity of 800,000 vehicles and output of just 400,000 last year. Tesla currently produces around 5,000 cars a week in Grunheide and has not provided a timeline for ramping up output. Reporting by Victoria Waldersee, Editing by Friederike Heine and David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Victoria Waldersee, Friederike Heine, David Holmes Organizations: Volkswagen, Thomson Locations: BERLIN, Berlin, Wolfsburg, Grunheide

☆ Most Gulf markets fall as Fed seen hiking rates
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +2 min

May 1 (Reuters) - Most major stock markets in the Gulf fell in early trade on Monday, dragged lower by expectations the Federal Reserve will increase interest rates, although the Qatari index bucked the trend. The Fed is predicted to raise rates by another 25 basis points this week. The U.S. central bank has raised its policy rate by 475 basis points since March last year from the near-zero level to the current 4.75%-5.00% range. Dubai's main share index (.DFMGI) fell 0.1%, hit by a 1.1% fall in Emirates NBD Bank (ENBD.DU) and a 0.8% decrease in utility firm Dubai Electricity and Water Authority (DEWAA.DU). In Qatar, the index (.QSI) bucked the trend to trade 0.5% higher, with telecoms firm Ooredoo (ORDS.QA) up more than 5%.

☆ An Airbnb host who was left with a $640 utility bill says that guests left the gas and water taps running after he did not meet their cancellation request
▼ + stars: | 2023-04-18 | by ( Huileng Tan | Reena Koh | ) www.businessinsider.com time to read: +3 min

A South Korean Airbnb host was handed a $640 utility and water bill after a couple's stay, per SBS. Two guests, who booked the Seoul home for 25 days, had left the gas and water taps running. He visited the property only to find an empty home with the windows open, and the gas left on, per SBS. Lee was particularly vexed about the 170,000 won water bill — the charge for using about 120 metric tons of water, per SBS. Airbnb's AirCover protection program covers guest damage to homes and damage to guests' belongings, but not high utility bills.

☆ Nevada considers plan to restrict water use for Las Vegas residents
▼ + stars: | 2023-03-15 | by ( Emma Newburger | ) www.cnbc.com time to read: +1 min

The proposed bill would make Nevada the first state to allow a water agency, the Southern Nevada Water Authority, to shut off water use for single-family residences that use more than half an acre-foot of water, roughly 163,000 gallons, each year. Representatives from the water agency, which serves the Las Vegas metropolitan area, told state lawmakers this week that the measure would only impact the top 20% of Las Vegas water users. The average customer in the Las Vegas Valley uses 130,000 gallons per year. The water agency would not impose residential restrictions right away but rather if drought conditions and water shortages at the Colorado River continued to get worse. "It does address these top 20% of customers who are using more water and have not made the changes necessary to protect our communities' water supplies," Southern Nevada Water Authority public service director Andy Bellanger told the Assembly Natural Resource Committee on Monday.

☆ 6 western states agreed on a plan to make major cuts to water usage from the shrinking Colorado River, but California — the largest user of them all — wouldn't get on board
▼ + stars: | 2023-02-04 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

The federal government has called on western states to come to agreement on water cuts. California couldn't come to an agreement with six other states on the Colorado River. The proposed cuts come as decades of drought have dwindled water supplies relied on by millions. Well, six of the seven states that are part of the Colorado River basin did come to an agreement, but California — the largest user of water from the river — wouldn't get on board. "The challenge is that we need to get back to balance in relation to water usage and what the system is producing," she said.

☆ Why desalination won't save states dependent on Colorado River water
▼ + stars: | 2023-01-27 | by ( Emma Newburger | ) www.cnbc.com time to read: +8 min

The Colorado River wraps around Horseshoe Bend in the in Glen Canyon National Recreation Area in Page, Arizona. "Ocean water desalination has tremendous allure," said Robert Glennon, a professor emeritus of law and water policy scholar at the University of Arizona. Pipes containing drinking water are shown at the Poseidon Water desalination plant in Carlsbad, California, U.S., June 22, 2021. The cost of water is highSince desalination is a drought-resistant process, some have argued that states with such facilities could make themselves less dependent on water from the Colorado River. That's significantly more than the amount the San Diego County Water Authority pays for water sourced from the Colorado River and the Sacramento San Joaquin River Delta.

☆ Gulf equities ring in new year on mixed note as oil, recession worries weigh
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +2 min

Jan 2 (Reuters) - Major Gulf stock markets were mixed on Monday, coming off gains in 2022 for most, as investors braced for the new year with worries about a potential recession, crude demand and the U.S. Fed hiking rates further. A Reuters poll showed on Friday that of 30 economists and analysts forecast Brent crude would average $89.37 a barrel in 2023, about 4.6% lower than the $93.65 consensus in a November survey. Abu Dhabi's index (.FTFADGI) added 0.3%, bolstered by a 1.6% increase in AD Ports Group (ADPORTS.AD) and a 2.4% hike in Multiply Group (MULTIPLY.AD). The benchmark was 2022's best performer among the other peers in Gulf Cooperation Council countries finishing the year with a more than 20% gain, after hitting an all-time high in early November in 2022. In Qatar, the benchmark (.QSI) was also up 0.3%, supported by its financial stocks but Saudi Arabia's benchmark index (.TASI) retreated 0.2% with Saudi National Bank (1180.SE) falling 0.8% and oil behemoth and index heavyweight Saudi Aramco (2222.SE) easing 0.5%.

☆ Gulf shares start new year in upbeat mood, Egypt outperforms
▼ + stars: | 2023-01-02 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +3 min

Jan 2 (Reuters) - Most major Gulf equities got off to a good 2023 start on Monday, with Egypt outperforming regional peers, as investors shrugged off concerns about a potential recession, crude oil demand and the U.S. Fed hiking rates further. Crude prices, which are highly correlated with Gulf financial markets, swung wildly in 2022 and are expected to remain under pressure in 2023. Abu Dhabi's index (.FTFADGI) advanced 0.4% on Monday, bolstered by a 0.6% increase in the country's largest lender First Abu Dhabi Bank (FAB.AD). The Qatari index last year posted its first annual loss since 2017, dropping 8.1% in 2022. Outside the Gulf, Egypt's blue-chip index (.EGX30) closed 2.5% higher, with Commercial International Bank Egypt (COMI.CA) climbing 3.1% while Abu Qir Fertilizers And Chemical Industries (ABUK.CA) was up 5.2%.

☆ Most Gulf markets track oil prices, global shares lower
▼ + stars: | 2022-11-28 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

Nov 28 (Reuters) - Most stock markets in the Gulf ended lower on Monday, as investors tracked sluggish oil prices and global shares after rare protests in China against the country's zero-COVID curbs roiled sentiment. China has stuck with President Xi Jinping's zero-COVID policy even as much of the world has lifted most restrictions. Saudi Arabia's benchmark index (.TASI) fell 0.5%, hit by a 2.8% fall in Retal Urban Development Co (4322.SE) and a 2.6% decline in oil giant Saudi Aramco (2222.SE). Europe's benchmark STOXX index (.STOXX) fell 0.9% in early trading after MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1.2% as COVID protests raised investors' concerns about growth implications for China. Outside the Gulf, Egypt's blue-chip index (.EGX30) dropped 0.7%, with top lender Commercial International Bank (COMI.CA) falling 0.8%.

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