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Author Archives: enterpriseam admin
Posted inINVESTMENT WATCH
Aramco Ventures sinks USD 10 mn in Singaporean REC provider Redex + successfully converts cooking oil into SAF
Aramco Ventures invested USD 10 mn in Singapore-based renewable energy certificate (REC) service provider Redex, according to a statement. The funds — secured from investors in the Middle East, South Asia, and Japan — will help Redex expand beyond Asia, the statement notes. Heading to our neck of the woods: "We are planning to get […]
Posted inRENEWABLES
Egypt and IEA partner on a joint action program to accelerate energy transition
Egypt partners with IEA on green transition: Egypt's Ministry of Petroleum and Mineral Resources signed an agreement with the International Energy Agency (IEA) to establish a joint action program aimed at accelerating renewable energy projects and emissions reduction, according to a statement. No timeline was provided for the launch of the program. The details: The […]
Posted inUncategorized
Posted inDEBT WATCH
Turkey’s Akbank signs off on USD 600 mn in sustainability-linked loans
Turkey’s Akbank signed agreements for two sustainability-linked loan facilities raising some USD 600 mn at 75 bp above US treasuries, according to a statement. The sustainability-linked facilities amount to USD 265.5 mn and EUR 318.45 mn with a 367-day tenor, the company notes. The issuance attracted strong demand from global markets leading to a 168x […]
Posted inEARNINGS WATCH
Ma’adan slumps into net losses in 3Q on the back of decreased sales
Ma’aden slides into net losses in 3Q 2023: Saudi Arabian Mining Company Ma’aden reported SAR 83 mn in net losses in the third quarter of this year — a 104% fall by our calculations — compared to a net profit of SAR 2.1 bn in the 3Q 2002, according to a disclosure to Tadawul. Its […]
Posted inALSO ON OUR RADAR
Solarspace plans to set up a regional HQ in the UAE
GREEN TECH- Solarspace plans to set up a regional HQ in the UAE: US green tech startup Solarspace has joined the UAE’s NextGen FDI programme and plans to establish an office in the UAE to expand its regional presence, Wam reported earlier this week. The UAE’s initiative was launched in 2022 by, among others, the […]
Posted inAROUND THE WORLD
UK backs deep sea mining moratorium in response to worries over environmental impact
UK backs a moratorium on deep-sea mining: The UK is backing a temporary suspension on supporting any licenses to exploit and mine deep-sea minerals until the environmental impact is better understood, The Guardian reports. This comes on the back of criticism from scientists and environmentalists over the country's previous support for the practice. REMEMBER- The […]
Posted inCLIMATE IN THE NEWS
A DNA breakthrough in measuring biodiversity?
UK researchers develop a new mechanism for measuring biodiversity: Two researchers from UK nonprofit Bristol Avon Rivers Trust (Bart) have carried out an experiment to analyze how environmental DNA (eDNA) tracing can help map out local aquatic species, Bloomberg writes. The team absorb water samples with a syringe and send them to a lab to […]
Posted inCALENDAR
OCTOBER 2023 29 October-2 November (Sunday-Thursday): Cairo Water Week, Cairo, Egypt. 30 October-2 November (Monday-Thursday): International Solar Alliance Assembly, New Delhi, India. 31 October-2 November (Tuesday-Thursday): Financial Times’ Energy Transition Summit, London, UK. 31 October-2 November (Tuesday-Thursday): World Hydropower Congress, Bali, Indonesia. NOVEMBER 2023 1-3 November (Wednesday-Friday): Forbes Middle East Sustainability Leaders Summit 2023, Abu […]