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Abu Dhabi National Oil Company’s (Adnoc) pivot towards petrochemicals in the climate fight got a long feature in Reuters. The energy firm is planning a hefty USD 40 bn in European M&A in the petrochemicals sector, which is one of the few resilient energy sectors expected to persist until 2050, even if decarbonization efforts succeed, the newswire wrote.
ALSO FROM REUTERS- The newswire also delved into the various signs pointing to Dubai’s real estate market boom decelerating, from declining FX inflows from China and Russia to house prices potentially falling on the back of surging inflation, unpredictable interest rate environment, and the impacts of the war in Gaza, Reuters cites sources as saying.
Emirates is sticking by Qantas Airways: Emirates CEO Tim Clark told Sky News Australia (watch, runtime: 9:59) that the Emirati airline won’t be ending its alliance with its Australian counterpart Qantas Airways amid the latter’s recent challenges, including the impact of Australia’s lockdown during the pandemic and more recently, the resignation of its CEO Alan Joyce. Clark expressed confidence that Qantas would be restored “to its former glory by doing the basics that people want” under a new management team.
