The utility sector of the oil rich Dubai would be regulated by a new regulatory body for looking into its operations. The body, created by the Dubai Executive Council under the Higher Committee for Energy and Environment, will liaison the private sector to flourish its business offering a framework.

Dana Gas announced the discovery of two new gases in Egypt on Sunday. It had acquired Canada's Centurion International by paying C$1.15 billion, in November 2006.

The 6th largest producer of gas made its first discovery at El Panseiya-1 west of the El Manzala concession. Its next discovery was South Faraskour-1, which was also associated with west of the El Manzala concession. A statement issued by the company said that both of its discoveries are likely to get associated to its El Wastani gas processing plant, this year.

A highly sophisticated $62 million, solar-powered mega-yacht, WHY37x24, is expected to hit the market very soon which would be equipped with all modern features from swimming pool to extensive decking. The luxurious WHY
37x24 is a result of co-operation between Monaco-based yacht maker Wally and Paris-based fashion house Hermès.

The UAE and the US have joined hands for further enhancing co-operation in the field of civil nuclear energy sector. The Minister of State for Foreign Affairs, Dr Anwar Gargash, and the US Energy Secretary, Steven Chu signed a MoU in this regard on Wednesday, according to the reports of local media.

After the last-month discovered leak that released radioactive tritium into the groundwater, the Vermont Senate Wednesday voted 26-4 in favor of shutting down New Orleans-based Entergy Corp’s Vermont Yankee nuclear power plant, upon the expiry of its license in 2012.

His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah has launched major petrochemicals project by EQUATE Company, at southern Al-Shuaiba Industrial Zone and hoped that it would prove a milestone for pushing the Kuwait economy.

On Tuesday, WAM news agency reported that in 2009, the Dubai's non-oil direct exports increased on an average rate of 23% whereas the value of exported goods through all Dubai custom sentries previous year amounted to
52.4 billion UAE dirhams (about $14 billion).

In the year 2008, exported goods value was 42.6 billion UAE dirhams where as, over the past five years the growth rate increased to 47%.