Dubai climbs to 14th place out of 30 cities on Innovation Index

Dubai climbs to 14th place on the innovation index. (Shutterstock)
Updated 25 February 2018
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Dubai climbs to 14th place out of 30 cities on Innovation Index

DUBAI: Dubai climbed up the Dubai Innovation Index ranking this week, edging out Berlin, Madrid and Shanghai to rank 14th out of 30 global cities in terms of innovation output, the Dubai Media Office announced Saturday.
The list was lead by Hong Kong in first place, with New York, London and Singapore following respectively.
The Dubai Innovation Index, which is compiled by Dubai Chamber in collaboration with consultancy company PricewaterhouseCoopers, measures innovation output on a city and industry level and provides analysis on key challenge areas as well as strengths.


Iraqi oil minister expects prices to rise over time

Updated 10 December 2018
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Iraqi oil minister expects prices to rise over time

  • Ghadhban said the recent fall in Iraqi exports was due to weather conditions
  • “Our goal is to reach an export capacity of 6.5 million barrels per day but over several stages,” he said

BAGHDAD: Iraqi Oil Minister Thamer Ghadhban said on Monday he expected the fall in oil prices to stop and for prices to rise over time, adding that if OPEC had not cut production, prices would have dropped to $45-50 per barrel.
Speaking at a ministry event in Baghdad, Ghadhban said the recent fall in Iraqi exports was not due to technical reasons, as Iraqi oil fields have high capacity, but rather because of weather conditions.
“Our goal is to reach an export capacity of 6.5 million barrels per day but over several stages,” he said.
Speaking about the recent Kirkuk oil deal with the semi-autonomous Kurdistan Regional Government (KRG), Ghadhban said state oil marketer SOMO had received preferential prices, albeit for low quantities.
Iraq last month restarted exports of Kirkuk oil, halted a year ago due to a standoff between the central government and the KRG, after a new government in Baghdad agreed a tentative deal with Irbil.