Saudi Arabia aims to be world’s largest renewable energy market

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Saudi Arabia aims to become the world’s foremost market for renewable energy with an aggressive investment budget of $109 billion. By 2032, the country strives to generate as much as a third of the Kingdom’s energy demands using renewable energy (54 GW).

Following the publicity surrounding the country’s major investment drive, King Abdullah City for Atomic and Renewable Energy (KACARE) released a series of documents detailing the revised National Energy Plan. In addition to the 41 GW of solar power, 25 GW of CSP and 16 GW of PV, the Kingdom is aiming to generate 18 GW of nuclear energy, 3 GW of waste to energy, 1 GW of geothermal and an additional 9 GW of wind power, specifically for water desalination plants.

UAE ranks second in retail apparel index

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The UAE has been ranked second on the A. T. Kearney Retail Apparel Index, which identifies the top 10 developing countries ranked in terms of market attractiveness, retail development, and country risk for their clothing retail industries.

“From the overall point of view, the UAE has all the components to be a very successful market for apparel,” said Emanuele Savona, A.T. Kearney principal. Reasons for this include that the country is growing in terms of GDP and consumption per capita and also has a vast young population attracted by big brands, Savona said.

Abu Dhabi corniche is playground for cycling enthusiasts

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Abu Dhabi: Summers might be harsh in the UAE, but this has not deterred cycle enthusiasts from hitting the pedal.

Every evening there is a rush at the Abu Dhabi Corniche with people thronging to rent bikes and karts. “There is a huge demand and people love cycling. Demand has not dropped despite the summers,” said Hassan Olawale, assistant marketing manager, Fun Ride Sports.

Emir receives well-wishers

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HH the Emir Sheikh Tamim bin Hamad al-Thani received at Al Wajbah Palace in Doha yesterday evening more well-wishers, including sheikhs and citizens, on the occasion of the advent of the holy fasting month of Ramadan.