The Virtual Reality Zone takes center stage at the Red Sea International Film Festival

RIYADH: An electronic music festival described as one of the largest in the world, and a sign of the rapidly expanding entertainment scene in Saudi Arabia, has drawn hundreds of thousands of people to a remote desert area outside Riyadh over the past three days. The pioneers of the third edition of Soundstorm crowded the … Read more

Facts: The latest fronts in climate change legal battles

(Reuters) – Climate change litigation has more than doubled in the past seven years globally, according to a June report by the London School of Economics, and is bypassing traditionally polluting industries such as fossil fuel production. At COP27 climate talks in Egypt, United Nations experts warned last week that many companies’ environmental claims amounted … Read more

Ukraine’s Kherson races to restore energy and water after Russia’s withdrawal

The humanitarian situation in Kherson is “extremely difficult” – official The authorities are working to restore vital services Joy mixes with concerns about water and energy for Kherson residents Residents recount the violations committed by the occupation forces Fighting rages in Donetsk and eastern Luhansk regions Kherson, Ukraine (Reuters) – Public utilities companies in Kherson … Read more

Russia will lose the energy war started by Putin – Politico

Agathe Demaris is the Director of Global Forecasting at the Economist Intelligence Unit. Her new book on the effects of US sanctions, “BackfireIt will be released next week. Russia has turned energy supplies into an economic weapon. The strategy is clear in Ukraine, where Russian drones and missiles bomb power stations. But it is also … Read more

Lola’s honeymoon ends with markets amid concerns over spending plan

BRASILIA (Reuters) – Brazilian President-elect Luiz Inacio Lula da Silva’s honeymoon with markets appeared to be over on Thursday, as investors grew impatient with his desire to boost social spending without setting long-term fiscal rules or naming top economic policymakers. Brazil’s currency and the Bovespa stock exchange benchmark (.BVSP) Both jumped last week after Lula … Read more

Tens of thousands of Sudanese demonstrate on the anniversary of the coup, and the killing of a protester

Paramedics say a man was killed by security forces The largest protest since January to commemorate the anniversary of the coup Police say tear gas was used to repel ‘trained and armed forces’ Talks between the generals, the former power-sharing group are underway KHARTOUM (Reuters) – Tens of thousands of Sudanese protesters on Tuesday marked … Read more

Analysis: Poor countries are at risk from elusive G-20 debt relief efforts

LONDON/WASHINGTON (Reuters) – The failure to make concrete progress on debt relief for the world’s poorest countries at the annual meeting of the International Monetary Fund and World Bank in Washington frustrated policymakers, activists and investors. Two years ago, the Group of Twenty launched the Joint Framework – a mechanism designed to provide a rapid … Read more

Druzhba pipeline leak reduces Russian oil flow to Germany

Poland discovered a leak late Tuesday Poland says the leak is likely accidental rather than sabotage Germany says its supplies of crude oil are sufficient Schwedt refinery serving Berlin has few alternatives WARSAW (Reuters) – Germany said on Wednesday it was receiving less oil but still had enough supplies after Poland found a leak in … Read more

The UAE is not giving up oil for renewables yet

The UAE has no plans to limit its oil production in favor of renewable energy sources, with the country’s climate minister citing strong global demand as a driver for increasing crude oil production. As one of the few countries with the capacity to increase its oil production, the UAE continues to increase its production in … Read more

Biden’s options to confront OPEC + are limited

This week, OPEC+ made a decision unprecedented in its history and the history of OPEC. The expanded organization agreed to production cuts of 2 million barrels per day at a time of steady demand, tight supply and ballooning runways in the world’s largest economies. More importantly, this decision may have been made by OPEC+ despite … Read more