As greenhouse gas emissions continue to rise and the threat of global warming looms ever larger, the world faces a conundrum: how to reduce the amount of harmful CO being released into the atmosphere in a global economy that continues to rely on fossil fuels for the majority of its energy requirements.
The Abu Dhabi authorities have set an ambitious recovery target of 70% for the emirate’s maturing oilfields. Achieving this goal will require the implementation of sophisticated advanced technology, including enhanced oil recovery (EOR) techniques. At the same time, Abu Dhabi National Oil Company (ADNOC) has set a sector goal of 75%...
July 2015 marked a watershed moment in the Arab Gulf’s decades-long history of cheap oil, as the UAE became the region’s first country to remove subsidies for transport fuel. Abu Dhabi-based daily The National reported on July 28, 2015 that prices for 95-octane unleaded petrol rose overnight from Dh1.72 ($0.47) per litre to Dh2.14 ($0....
In a bid to strengthen the insurance sector and promote industry consolidation, the UAE Insurance Authority (IA) recently introduced new financial regulations for underwriters, aimed at improving solvency, technical provisions and accounting practices, and setting new investment and minimum capital requirements. These reforms will bring the...
Now entering its 10th year of mandatory health insurance legislation, Abu Dhabi’s insurance sector is at something of a crossroads. Although penetration is rising and the industry’s gross written premiums (GWPs) have recorded double-digit growth in recent years, loss ratios have deteriorated over the same period, the industry recorded some of...
The acquisition of Barclays UAE retail business in 2014 by Abu Dhabi Islamic Bank (ADIB) represented the most significant expansion in the domestic Islamic banking market of recent years. However, while the headline-generating event was a very visible demonstration of the growth of sharia-compliant financing in the UAE, the expansion of Abu...
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