Author: cairosun.com

India is expanding its strategic petroleum reserves programme, the Minister of State for Petroleum and Natural Gas, Rameswar Teli, told the lower House of Parliament, the Lok Sabha. In the second phase of its petroleum reserves programme, approvals were given this month for establishing two additional commercial-cum-strategic storage facilities with a total capacity of 6.5 million metric tonnes (MMT) in underground storage structures. The approvals were announced by the Minister today in reply to questions from Lok Sabha members.In the first phase of India’s strategic petroleum reserves programme, an agreement to store oil from Abu Dhabi at strategic petroleum reserves…

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, chaired the country’s delegation that participated in the international conference entitled, “Central and South Asia: Regional Connectivity. Challenges and Opportunities,” held in the Uzbek capital, Tashkent.The conference was attended by over 600 participants from more than 40 countries, including Ashraf Ghani, President of Afghanistan, along with ministers of foreign affairs and representatives of Central and South-Asian governments and other countries, as well as heads of influential regional and international organizations, global financial companies and leading research centers.In his speech at the conference, Al Mazrouei conveyed the greetings of President His…

The UAE, represented by the Ministry of Finance (MoF), has signed an agreement to promote and protect mutual investments with Hungary. The agreement, which was signed at the ministry’s headquarters in Abu Dhabi, aims to enhance economic cooperation, provide an optimal investment environment, and secure a comprehensive balance between rights and obligations between investors and the host country, thus stimulating business initiatives for sustainable economic development.The agreement was signed by Younis Haji Al Khoori, Under-Secretary of Ministry of Finance; and Osama Naffa, Hungarian Ambassador to the UAE, in the presence of senior officials from MoF. The agreement protects both nations’…

Al Ain International Airport (AAN), owned and operated by Abu Dhabi Airports, has welcomed two new weekly flights between Al Ain and Cairo, Egypt. The inaugural flight, operated by Nile Air, landed at Al Ain International Airport. Outbound flights will depart from Cairo International Airport on Mondays and Fridays at 15:40 LT and land at Al Ain International Airport at 21:15 LT. Return flights will depart from Al Ain International Airport on Mondays and Fridays at 22:15 LT, landing in Cairo International Airport the following day at 00:05 LT.Francois Bourienne, Chief Commercial Officer at Abu Dhabi Airports, said, “We are…

The OPEC Fund for International Development (OFID) has signed a US$75 million loan agreement with Bangladesh to improve connectivity and accessibility between the rural southwest regions and the capital Dhaka. The OPEC Fund loan will co-finance the construction of the Nalua-Baherchar Bridge (1.3km) over the Pandab-Paira River and build access roads. This project will improve connectivity between Dhaka and the southwest districts of Barisal and Patukhali, where agriculture and fishing are key economic activities. As travelers currently cross the river by ferry, the project will reduce travel time and costs while also allowing agricultural produce to reach marketplaces faster. The government…

The Abu Dhabi National Oil Company (ADNOC), announced an investment of US$763.7 million (AED2.8 billion) in integrated rigless services across six of its artificial islands in the Upper Zakum and Satah Al Razboot (SARB) fields to support its production capacity expansion to 5 million barrels per day (mmbpd) by 2030. The investment is in the form of three contracts awarded by ADNOC Offshore to Schlumberger, ADNOC Drilling, and Halliburton after a competitive tender process.Schlumberger’s share of the award is valued at US$381.18 million (AED1.4 billion); ADNOC Drilling’s share is valued at US$228.71 million (AED839.58 million), and Halliburton’s share is valued…

Masdar announced that it is expanding its footprint in the Republic of Uzbekistan, with the signing of agreements to develop two photovoltaic (PV) power projects in the country for a combined capacity of 440 megawatts. Sardor Umurzakov, Deputy Prime Minister and Minister of Investments and Foreign Trade of Uzbekistan, signed the Investment Agreements for both projects with Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, in Tashkent. The Power Purchase Agreements were signed by Sobirjon Artikov, First Deputy Chairman of the Board of JSC National Electric Grid of Uzbekistan, and Masdar’s Al Ramahi.”The Government of Uzbekistan opened up the power…

While almost four in ten UAE consumers have experienced online fraud attempts in the past year, trust and usage of digital payments both in-store and online see no signs of ceasing as consumers still prefer them over cash, citing improved technology, and security measures as reasons why they still feel more secure with these methods of payment. These findings were revealed in the 2021 Stay Secure survey conducted by Visa, Dubai Police, and Dubai Economy (DED), according to a joint press release.According to the study, the use of cash in the UAE continues to decline. While eCommerce and contactless payments…

A team of Emirati entrepreneurs have launched the first satellite to track wildlife in the UAE (Ghalib). Developed by Emirati company Marshall Intech, the satellite was successfully launched on SpaceX Falcon-9 rocket at Cape Canaveral Space Force Station, Florida.The satellite entered its orbit, 550 km above sea level. Equipped with advanced technologies, Ghalib satellite allows researchers to track wildlife and bird migration in the remote areas of country and assists in monitoring animals and conservation. The launch demonstrates the increasing role of young Emirati entrepreneurs in the UAE space industries and their contributions that enhance the country’s position as a…

To celebrate the indescribable drive and competitive spirit of all athletes and fans, Apple launched the International Collection bands for Apple Watch, featuring 22 limited-edition Sport Loop bands with colorful designs that represent those nations across the globe. Each band also features a matching downloadable Stripes watch face showcasing color combinations that customers around the world can use to personalize their Apple Watch and boldly show their country support. The soft, breathable, and lightweight International Collection Sport Loop bands are available representing the following countries: Australia, Belgium, Brazil, Canada, China, Denmark, France, Germany, Great Britain, Greece, Italy, Jamaica, Japan,…