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Friday
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May 2019

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Markets

2,589.68 0.21%
Volume
122,496,621
Turnover
0.21%
Trades
2,529
12
Up
8
Flat
15
Down
Traded stocks 35
4,777.31 0.57%
Volume
82,210,890
Turnover
0.57%
Trades
1,783
12
Up
3
Flat
8
Down
Traded stocks 23
Most active
ADSB
1.36
Al Madina
0.23
RAKBANK
4.75
GFH
0.93
BILDCO
0.39
KHCB
0.55
IFA
0.29
RAK Cement
0.61
FAB
13.9
Emaar
4.42
DIB
4.97
ADCB
8.75
GFH
0.93
Dana Gas
0.95
UPP
0.32
Deyaar
0.32

Business


Stationary Battery Storage Market Size to exceed $170bn by 2030

Stationary Battery Storage Market size will surpass USD 170 billion by 2030, as reported in the latest study by Global Market Insights, Inc. Favorable regulatory policies pertaining to sustainable energy technologies coupled with upsurge in investments toward large scale storage units with increased power output will drive the stationary battery storage market size. Furthermore, the increasing power outages and lack of effective monitoring systems across the emerging nations will positively influence the product adoption. Ongoing technological advancements toward development of distributed generation sources will boost the industry growth. Japan stationary battery storage market size was valued over USD 1 billion...

Empower provides district cooling services to key sectors in Dubai

Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced that it provides district cooling services to 7 major sectors in Dubai. Out of the currently serving 1,090 buildings, 71% are residential buildings, 15% are commercial office buildings, 11% are hotel buildings and the remaining 3% are hospitals, educational institutions and universities, shopping malls and factories. District cooling is the ideal choice for these key sectors as it contributes to environmental conservation by reducing carbon emissions and saving 50% of energy consumption compared to conventional cooling systems. In addition, Empower’s smart district cooling systems rely on...

Siemens Gamesa reaches 1GW sold of the SG 4.5-145 with 232 MW Milligan project for EDF Renewables in the USA

Siemens Gamesa Renewable Energy has been awarded another order by EDF Renewables to supply 30 SG 4.5-145 and 36 SG 2.7-129 wind turbines for the 232 MW Milligan wind project, located in Milligan County, Nebraska, USA. This project marks 1 GW of SG 4.5-145 wind turbines sold world-wide and reinforces Siemens Gamesa’s solid position in one of the largest wind power markets in the world. The contract also includes a service and maintenance agreement for Siemens Gamesa’s premium maintenance program, offering the best in scale and flexibility to maximize energy asset returns. Project completion is expected for the end of...

Chronicle, Siemens join forces to provide industrial monitoring and detection for energy industry

Siemens and Chronicle, an Alphabet company, today announced a new partnership to protect the energy industry’s critical infrastructure from increasingly sophisticated and malicious industrial cyber threats at Spotlight on Innovation, Siemens flagship U.S. technology and innovation conference. Through a unified approach that will leverage Chronicle’s Backstory platform and Siemens’ strength in industrial cyber security, the combined offering gives energy customers unparalleled visibility across information technology (IT) and operational technology (OT) to provide operational insights and confidentially act on threats. The energy industry has historically been unable to centrally apply analytics to process data streams, cost-effectively store and secure data, and...
24/05/2019

Helen Coonan appointed Minerals Council chair as coal tensions remain

By senior business correspondent Peter Ryan Former Howard government minister Helen Coonan has been appointed chair of the Minerals Council of Australia (MCA), as the lobby group recasts its political relationships in the wake of Scott Morrison's surprise election victory.Ms Coonan's appointment, replacing outgoing chair and ABC director Vanessa Guthrie, makes her the first chair from outside the resources industry and comes after major players, including BHP and Rio Tinto, have over recent years threatened to quit the council over its pro-coal advocacy.Ms Coonan — also an independent director at Crown Entertainment and chair of the Australian Financial Complaints Authority...
24/05/2019

US regulators defend 737 Max actions

Media playback is unsupported on your device Media captionFAA 'examining reports' for links between fatal plane crashes US aviation regulators have defended their response to two fatal Boeing 737 Max plane crashes.The Federal Aviation Administration (FAA) told the BBC that it didn't have the information needed to ground the 737 Max after the Lion Air crash.Civil aviation authorities from 33 countries gathered in Texas on Thursday to discuss when the current grounding order should be lifted.The FAA said it was making sure that the 737 Max was "as safe as possible".An Ethiopian Airlines flight crashed in March, killing all 157...

24/05/2019

Adani's final environmental hurdles set to be finalised within three weeks, Premier announces

By Josh Bavas Adani's last environmental approvals are set to be finalised within three weeks, after the Queensland Premier called for the process to be resolved.If given the green light, Adani could begin breaking ground at its Carmichael mine site within weeks, after more than eight years of planning.The mining giant has been waiting on the approval of two environmental management plans — one related to the protection of the black-throated finch and the other concerning the groundwater management.Days after Labor's election wipe-out in Queensland, Annastacia Palaszczuk said she was "fed up" with the ongoing delays related to Adani's environmental...

EDF, Masdar consortium wins tender to build 800MW solar plant in Morocco

A consortium led by French EDF Renewables won a tender to build an 800-megawatt solar plant near the Moroccan city of Midelt. The winning consortium for Noor Midelt I is led by French company EDF Renouvelables in collaboration with UAE renewables developer and operator Masdar, as well as Moroccan company Green of Africa. The plant will be built with an investment of 7.57 billion dirham (781.5 million U.S. dollars) funded by several international institutions, namely the European Investment Bank, the German bank of KfW, the French Development Agency, the European Commission, the World Bank, the African Development Bank and the...
24/05/2019

Facebook plans to launch 'GlobalCoin' currency in 2020

Facebook is finalising plans to launch its own crypto-currency next year.It is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020.The social media giant wants to start testing its crypto-currency, which has been referred to internally as GlobalCoin, by the end of this year.Facebook is expected to outline plans in more detail this summer, and has already spoken to Bank of England governor Mark Carney.Founder Mark Zuckerberg met Mr Carney last month to discuss the opportunities and risks involved in launching a crypto-currency. Facebook has also sought advice on operational...

23/05/2019

Kuwait is not far from effects of US-China trade war

KUWAIT CITY, May 23: Referring to the trade war between America and China which escalated with the two countries announcing the exchange of customs duties on goods, Mohammed Ramadan, an economist said “Kuwait is not far from the effects of the US-China trade war, whether on the government, Kuwaiti companies, or even consumers,” reports Al-Rai daily. He stressed in a statement to the Al-Rai daily on the need for the Kuwait Investment Authority (KIA) to prepare basic plans and alternatives to all the expected scenarios in order to avoid the impact of the trade conflict on the values of investments...
23/05/2019

India ends Iranian oil imports

WASHINGTON: India has ended all imports of oil from Iran, its ambassador in Washington said Wednesday, becoming the latest country to comply with threatened US sanctions.India had already sharply decreased its imports from Iran and bought one million tons of crude in April, the last month before Washington stepped up its pressure campaign against Tehran and ended all exemptions to sanctions, Ambassador Harsh Vardhan Shringla said.“That’s it. After that we haven’t imported any,” Shringla told reporters during a briefing on Prime Minister Narendra Modi’s election victory.Shringla said that energy-hungry India has also ended all imports from Venezuela because it considered...

Reliance Capital to exit Mutual Fund biz, sells RNAM stake to Nippon Group

Reliance Capital Ltd, the financial services arm of Anil Ambani-led Reliance Group, is exiting the mutual fund business by selling its entire stake in Reliance Nippon Life Asset Management for Rs 6,000 crore ($860 million) to Japan’s Nippon Group. Reliance Cap will use the entire amount to reduce its outstanding debt by 33 per cent. The company will sell its 42.88 per cent stake to Nippon Life Insurance and other financial investors in the joint venture, it said in a statement. Nippon, which also owns 42.88 per cent of the joint venture, will increase its shareholding to 75 per cent,...