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  • Saudi’s ACWA Power targets 2kWh barrier with pilot energy-efficient desalination project

    Saudi developer and operator of power and water desalination ACWA Power announced on Tuesday that it will implement a pilot project involving Hydraulic Injection Desalination (HID) technology in the Gulf Cooperation Council (GCC) region. HID desalination, developed by Andorra-based research and development company Water Global Access (WGA), uses one third less energy than top-of-the-line seawater reverse osmosis (SWRO) desalination plants, and 10 times less energy than traditional thermal desalination facilities, ACWA said in a press statement.

  • Power struggle continues in Libya

    Libya's capital, Tripoli, lost its calm during the last days of August as local political rivals opted for force to settle differences. Fierce fighting claimed 32 lives, and over a hundred were left injured. This development is a fresh diplomatic setback and ushers in a new chapter of power struggle in a country ravaged by a decadelong instability. In February 2021, Libya's competing forces agreed to form a unity government, which many saw as a step toward peace. Abdul Hamid Dbeibah was selected as prime minister and was supposed to assume power up to December 2021. He would hand over power to an elected authority. However, the unstable security and political environment hindered the conduct of the electoral process. Such a failure planted the seeds of the latest fighting.

  • Empowered by His Missteps, Shia Rivals Force Sadr to Back Down – For Now

    Sadr thus far has been able to afford to make mistakes and not suffer serious political consequences, mostly because of his ardently loyal base. It is possible his social capital, which is his strongest asset, could become frayed and his base become less responsive to his calls. However, the bigger problem is that he has made political miscalculations – particularly having his supporters in Parliament resign their seats – that his rivals are using adroitly and preventing him from correcting.

  • To fix its broken power market, Europe has to break it more

    August was the most expensive month on record for electricity in Europe, according to the intelligence firm Rystad Energy. On Aug. 29, electricity futures in Germany (the European benchmark) jumped above €1,000 ($998) per megawatt-hour, more than ten times the normal rate during the last decade.

  • Head of Libya’s parliament-approved government calls for peaceful handover of power

    Fathi Bashagha, prime minister-designate of Libya's parliament-approved government, called on the Tripoli-based Prime Minister Abdul-Hamed Dbeibah to peacefully hand over power. Bashagha called on Dbeibah to "resort to peace and avoid war." In a letter addressed to Dbeibah on Wednesday, Bashagha said: "This is a sincere and patriotic call, and we look forward to your highly patriotic response to respect the interest of the country."

  • Saudi Arabia’s ACWA Power expands its energy portfolio in Uzbekistan

    ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, signed three major agreements with the government of the Republic of Uzbekistan. The first involves a Heads of Terms agreement for the development of a 1.5GW wind farm in Karakalpakstan; the second is an Investment Cooperation Agreement to jointly develop gas-to-power, renewable energy, and green hydrogen projects in Uzbekistan; and the third is related to charting a roadmap for the investment of green hydrogen in the Republic of Uzbekistan in collaboration with Air Products.

  • Money Pours Into Funds Targeting Solar Power, Cell Towers and Data Centers

    Investment companies such as KKR KKR 0.70%▲ & Co. and Brookfield Asset Management Inc. BAM -1.04%▼ are raising money at a record clip to invest in power plants, telecom towers, and data centers—businesses that can thrive even as inflation runs rampant.

  • The five ‘most powerful’ passports in the Middle East

    According to the Henley Passport Index, a quarterly report published by the London based advisory firm, the world's strongest passports regularly shift on the list, depending on a number of factors which determine whether you are allowed to travel visa-free. The index ranks passports according to the number of destinations holders can access without the need for a visa, and since it was created, there have been a few countries that have topped the list year after year. Some of these include Germany, Denmark, Switzerland, Japan, Sweden and Singapore.

  • Visa and Al Rajhi Bank push to empower female entrepreneurs in Saudi Arabia

    “The ‘She’s Next’ initiative offers female business owners in the Kingdom a unique opportunity to apply for one of five $10,000 grants and receive a year of coaching from IFundWomen, as well as networking and mentoring opportunities to build, fund and grow their ventures,” Bailoun said.

  • Saudi, UAE save oil firepower in case of winter supply crisis

    When the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided on Wednesday to raise oil output by a mere 100,000 barrels per day (bpd), it broke a taboo with a rare reference to the group's spare production capacity.