|By Arabian Post Staff|Donald Trump’s election as American President is expected to further complicate OPEC’s efforts to strike a deal for output freeze. OPEC was already struggling to finalize a deal and with Trump, it has become all the more difficult. In fact, Trump’s surprise victory threatens to deepen a market sell-off, according to UBS Group AG. Yet the uncertainty arising from the President-Elect’s policies — from […]
UAE. Low natural gas and electricity prices have created a tough competitive environment for renewable energy, but this has remarkably had little impact on the momentum of alternative energy growth, finds a new Deloitte report entitled, “Alternative Thinking 2016: Five game-changers that are powering the future of renewable energy.” The report identifies the important trends and opportunities in the renewable energy industry. It also presents “what if” […]
International oil companies will probably cut investment spending about $370 billion this year and next, according to Wood MacKenzie Ltd., just as the United Arab Emirates warned that the “massive” number of projects being delayed because of the drop in crude prices could create a future shortage. Further investment cuts will mean a 3 percent reduction this year in oil and natural gas production, equivalent to 5 […]
|By Arabian Post Staff| The growing list of OPEC members seeking exemptions from a planned supply cut has investors seeing future price drops, Bloomberg reports. Money managers increased bets on lower West Texas Intermediate oil for the first time in five weeks as Iraq joined Iran, Nigeria and Libya in seeking to be excluded from OPEC’s first agreement to reduce output in eight years. The deal was reached […]
|By Arabian Post Staff| Adnoc announced plans to merge Abu Dhabi National Tanker Co., Petroleum Services Co. and Abu Dhabi Petroleum Ports Operating Co. by the end of 2017. The new shipping company will operate more than 165 vessels, including vessels to carry liquefied natural gas, chemicals and bulk cargo, Adnoc said. The consolidation is expected to lead to improved efficiency and savings. The move is seen […]
In just over two months, Samsung’s Galaxy Note 7 has gone from smartphone star to epic failure, with the South Korean firm confirming today that it is permanently halting production of the device. Linked to numerous battery-related fires, the Galaxy Note 7 could end up costing Samsung many billions of dollars. Launched in early August, the Galaxy Note 7 appears to have had a flaw that caused […]
Dutch architect and scientists have delivered proof of principle for what started years ago with the question “Can we get energy from gravity?” The invention can now lead to a sustainable home energy generator. Over the past six months, architect Janjaap Ruijssenaars at Universe Architecture, Amsterdam and scientists from VIRO in Hengelo (NL) have been working on the physical evidence. As was expected based on earlier […]
The Infiniti Q50 gets a new four-cylinder engine making it a good entry-level luxury car. Affordable and satisfying to drive, it gets good fuel economy and has a lower price point. If you’re in the market for a small, luxury sports sedan, the Infiniti Q50 might just be the ticket. This week we test drove the completely refreshed 2016 Infiniti Q50 2.0t Premium. What’s New For 2016? […]
|By Matein Khalid| The Federal Reserve did not disappoint the financial markets after Janet Yellen’s FOMC conference on Wednesday. The US central bank did not raise the overnight borrowing (or Fed Funds rate) to 0.5% on the eve of the November election. This triggered a wild rally in the US stock market with the Dow Jones up 163 points, gold up to $1342 and oil to $46 […]
|By Arabian Post Staff| OPEC members aren’t likely to reach a supply deal in Algiers next week, but an agreement to boost prices could be drawing closer after Saudi Arabia signaled for the first time in two years that it’s willing to cut production, Bloomberg reported. Saudi Arabia and Iran, whose rivalry thwarted a deal with other major producers in April, didn’t reach agreement after two days of […]
|By Arabian Post Staff| The global oil market will most likely remain oversupplied for the rest of 2016 and well into 2017, rating agency Standard & Poor’s has forecast. The view has been attributed to global oil production remaining in excess of demand, and the resulting persistently high crude oil and product inventories putting spot prices and near-term futures under significant pressure. Members of the Organization of […]
|By Arabian Post Staff| Platts, independent provider of information and benchmark prices for the commodities and energy markets, announced that it will publish independent, outright price assessments for a range of oil products for the Middle East market on a Free-On-Board Fujairah basis starting October 3, 2016. The new assessments are for gasoline, diesel/gasoil, jet fuel and fuel oil. They will be published alongside existing physical netback […]
Research led by Johns Hopkins University astrophysicists using information from a NASA space telescope breaks new ground in ways to observe a star swallowed by a black hole, promising to help paint a clearer picture of this cosmic phenomenon. The results, published online in the Astrophysical Journal, are based on two methods that are new in the study of this sort of star destruction: the first infrared […]
VATICAN CITY // Sheikh Mohammed bin Zayed and Pope Francis held discussions on strengthening existing links and promoting the acceptance of others’ beliefs. “We are working together on promoting and enabling, for peace and stability to prevail throughout the world,” said Sheikh Mohammed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, after the meeting at the Vatican on Thursday. He said that […]
|By Arabian Post Staff| DEWA has awarded the contract for Independent Power Producer (IPP) Advisory Services for the 200MW Concentrated Solar Power (CSP) Plant to a consortium led by KPMG Lower Gulf Limited (Financial), alongside Mott MacDonald (Technical) and Ashurt (Legal). This is part of DEWA’s efforts to increase the percentage of renewable and clean energy in the energy mix, and support the Dubai Green Energy Strategy […]
|By Arabian Post Staff| Abu Dhabi’s Masdar City without light switches or water taps has much to teach people around the world about saving energy and precious resources. With its low-rise and energy efficient buildings, smart metering, excellent public transport and extensive use of renewable energy, the 2,000 citizens of Masdar City are living in a place which is a ‘green’ example to city planners around the […]
|By Matein Khalid|I had written a column two weeks ago outlining my view that US equities faced a dangerous autumn and the S&P 500 index was set for a fall of 150 points. However, even I did not expect the S&P500 index to fall 52 points on Friday (the Dow dropped 394 points and NASDAQ 133 points), its worst performance since the Brexit shock. It was even […]
|By Arabian Post Staff| With the Algiers meeting of OPEC drawing closer, the approach of the price boost initiatives is itself apparently evolving into something totally different from the initial idea of some sort of an output freeze. The new buzz word seems be ceiling rather than the freeze. Of course, the overriding consideration is voluntarism. According to reports, the OPEC producers, particularly the camp led by […]
|By Steve Austin| At first sight it appears that low oil prices are good for society. A low oil price helps us save dollars at the pump, acts as an economic catalyst making exchanges cheaper and thereby stimulating the economy. However, there are downsides as well, often out-of-sight-out-of-mind and we will address these today. Change in economic model For the first time we have entered an era […]
/By Matien Khalid/I have been bullish on emerging market debt as an asset class since last autumn. Even though the Chinese yuan devaluation was toxic, this asset class is up 12% in 2016, thanks to almost $5 billion in cash inflows. The tax amnesty in Indonesia, the political changes in Brazil after President Dilma’s impeachment, the election of a center-right pro-business government and $16 billion sovereign debt […]
In a paper presented today at the Association for Computing Machinery’s special interest group on data communication (SIGCOMM) conference in Florianópolis, Brazil, a team of computer science researchers at the University of Massachusetts Amherst led by professor Deepak Ganesan introduced a new radio technology that allows small mobile devices to take advantage of battery power in larger devices nearby for communication. Ganesan and his graduate students in […]
Are you ready for a smartphone battery that lasts twice as long as your current one? According to researchers, that battery is coming. MIT News reported this week that a new kind of lithium battery is on the way to being commercialized. Called lithium metal batteries, they can reportedly pack the same energy as standard lithium-ion cells in half the size — or put twice as much […]
Researchers at the Faculty of Physics at the University of Warsaw, using the liquid crystal elastomer technology, originally developed in the LENS Institute in Florence, demonstrated a bioinspired micro-robot capable of mimicking caterpillar gaits in natural scale. The 15-millimeter long soft robot harvests energy from green light and is controlled by spatially modulated laser beam. Apart from travelling on flat surfaces, it can also climb slopes, squeeze […]
Scientists sponsored by the Office of Naval Research (ONR) have genetically modified a common soil bacteria to create electrical wires that not only conduct electricity, but are thousands of times thinner than a human hair. As electronic devices increasingly touch all facets of people’s lives, there is growing appetite for technology that is smaller, faster and more mobile and powerful than ever before. Thanks to advances in […]
