Low-cost carrier Wizz Air to exit Abu Dhabi operations
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Oman's renewable energy doubles in 5 months
The contribution of solar and wind capacity to Oman's total electricity generation more than doubled to nearly 11.5 per cent during the first five months of this year, up from around 4.88 per cent at the end of December 2024. According to Nama Power and Water Procurement Company (PWP), the sole procurer of electricity and water capacity in the Sultanate, renewable energy—mainly from solar sources—accounted for 1.88 terawatt-hours (TWh) during the January–May 2025 period compared with total renewable output of 2.4 TWh for the whole of 2024. Around 89,840 households were supplied with clean electricity during the five-month period, resulting in annualised emissions reductions of approximately 617,300 tonnes, Nama PWP said. This rapid increase in renewable generation supports the Omani government's strategy to achieve a clean energy share of around 30–40 per cent of total generation capacity by 2030, rising to 60–70 per cent by 2040. The target is for 100 per cent clean energy generation capacity by 2050. In the next phase of renewable energy development, Oman is shifting its focus to wind power, with five wind farms—together representing over one gigawatt (GW) of capacity—currently under competitive tendering, overseen by Nama PWP. These projects are planned for Jaalan Bani Bu Ali, Duqm, Mahoot, Dhofar, and Sadah. The total investment in these Independent Power Projects (IPPs) is estimated at around 450 million Omani rials ($1.2 billion). (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
35 minutes ago
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Mideast factors to watch on July 15
Here are some factors that may affect Middle East stock markets on Tuesday. Reuters has not verified the press reports and does not vouch for their accuracy. INTERNATIONAL/REGIONAL * GLOBAL MARKETS-Asian shares rise, dollar strengthens ahead of US earnings; JGB yields surge * Oil falls as Trump's 50-day deadline for Russia eases supply fears * PRECIOUS-Gold ticks higher with focus on US inflation data * MIDEAST STOCKS-Gulf stocks subdued as Trump steps up tariff threats * Israeli ultra-Orthodox party leaves government over conscription bill * OPEC projects 'very strong' third-quarter oil demand, followed by tight balance, RIA reports ISRAEL * Clerics accuse West Bank settlers of attacking Christian sites * Gazans' daily struggle for water after deadly strike * Israel's Bezeq to buy local telecoms firm for $160 million * Netanyahu aide faces indictment over Gaza leak SAUDI ARABIA * BRIEF-Mubadala Announces Significant Reinvestment In PCI Pharma Services * Rescued crew of Greek ship sunk by Houthis taken to Saudi Arabia UNITED ARAB EMIRATES * UAE lender ADCB reports 11% jump in second-quarter profit * Wizz Air pulls out of Abu Dhabi as instability wipes out hope of Middle East profits * BRIEF-Etihad H1 Passengers At 10.2 Million IRAQ * Two drones fall in Khurmala oilfield in Iraqi Kurdistan, counter-terrorism service says SUDAN * Sudanese RSF forces kill almost 300 in North Kordofan, activists say SYRIA * Attacks on Syrian security forces sent to quell sectarian clashes leave 18 dead as Israel strikes targets to protect Druze IRAN * Iranian lawmaker says Strait of Hormuz still under review, no decision yet to close it * Blast caused by gas leak injures 7 in Iranian city of Qom * Iran says it will respond to reimposition of UN sanctions LIBYA * More than 100 migrants freed in Libya after being held captive by gang, officials say (Compiled by Bangalore newsroom)
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Saudi's Sport Clubs fit for debut: IFR
The retail tranche of Sport Clubs Company's SR257.4m (US$69m) IPO was nearly five times covered, marking the third Tadawul listing in a row in which retail demand was not sufficient to cover the whole deal. The Saudi fitness centre operator doubled the size of the retail offering to 20% of the IPO due to robust demand. Retail tranches have typically been 10% but lately this has increased to 20%, which has coincided with cooling in retail interest. Deals are still attracting robust demand compared to other countries but are short of the double-digit levels that had become the norm. IPOs for low-cost carrier Flynas and hospital group Specialized Medical Company both lacked enough demand to cover the whole deal and have traded poorly, down 3% and 13.3%, respectively, as of Monday. Retail demand for SCC totalled SR247.7m for 6.86m shares at SR7.50 each. There were 259,690 retail investors participating who were allocated 10 shares each, with the rest awarded pro rata. Institutional demand continues to be robust, with SCC earlier attracting demand of SR11.35bn/US$3bn, around 45 times' coverage of the 80% allocated to those investors. The 34.3m shares in the IPO represent a 30% free-float. A trading date is yet to be set. BSF Capital is running the IPO.
