Economy
Lebanon needs $1bn for local currency to regain value: Minister
Lebanon’s Information Minister George Kordahi has said that the country needs $1 billion to bring up the value of the...
- The World Bank has described Lebanon’s economic crisis as possibly among the three worst of its kind across the globe
- Since 2019, the Lebanese pound has lost more than 90 percent of its purchasing power, and now more than three out of every four citizens live in poverty
Business
Bavarian & DEWA discuss renewable energy collaboration
They also discussed boosting relations, and interchanging knowledge with German businesses.
- DEWA and Bavarian officials met to discuss partnership in clean energy
- By 2050, Dubai plans to fulfill 75 percent of its energy requirements through renewable sources
Economy
Jordan taps FAO to support rural families with agriculture festivals
The FAO and Jordan’s National Center for Agricultural Research have signed a cooperation agreement in this regard.
- The FAO and Jordan’s National Center for Agricultural Research have signed a cooperation agreement
- As part of the agreement, they are expected to organize festivals for Jordan's agricultural products to empower rural families and farmers
Business
Combat Field: a gamer’s paradise at Riyadh Season
Among many attractions of Riyadh Season is Combat Field for fans of war and combat games. It simulates the reality...
- The total area of the Combat Field area situated in "Janadriyah" northeast of the capital, Riyadh is about 310,000 square meters
- Also, the Combat Field area includes a weapons museum, 5 exhibitions for the sale of ammunition, weapons and accessories, as well as live shows of fighting robots
Business
UAE minister says global energy transition to take time
The United Arab Emirates’ minister of state, Sultan Al-Jaber, said that the world needs to accept that global energy transition...
- The minister believes that the world is entering an oil supply crunch
- He said that 80 percent of energy demand still comes from fossil fuel. He added that the world was ‘underinvesting’ in hydrocarbons
Tunisia most democratic among countries roiled by Arab Spring
Tunisia, where the government of former president Zine El Abidine Ben Ali was overthrown in 2011, scored 6.59 out of...
- Tunisia, where the government of former president Zine El Abidine Ben Ali was overthrown in 2011, scored 6.59 out of ten in the 2020 Democracy index
- Libya is now tied with Yemen at the bottom of the list, with a democracy score of 1.95 out of 10
Economy
UAE to chair 6th Annual Asian Infrastructure Investment Bank meeting
The Meeting will focus on a number of key themes, including investing in the infrastructure for tomorrow such as cross-border...
- The meeting to be attended by 103 members as well as strategic partners from around the world will be held virtually under the theme "Investing Today. Transforming Tomorrow."
- In 2020, the Asian Infrastructure Investment Bank announced its strategic ambition to allocate 50% of its total funding until 2025 to climate-friendly projects
Business
Bitcoin drops off record high as ETF-frenzy subsides
Cryptocurrencies declined on Friday following an ETF-fueled rally that saw it reach a record $67,016 on Wednesday, as investors questioned...
- Bitcoin’s recent rally — six-months after its previous top of $64,895 — was fueled by the debut of the ProShares Bitcoin Strategy ETF
- Investors have bet the long-awaited launch of bitcoin ETFs will lead to greater investment from both retail and institutional investors
Business
STV sets its sights on $1bn Middle East tech fund
STV is aiming to raise at least $1 billion for its second Middle East technology investment fund, making it potentially...
- The people chose to remain anonymous as the details of the fund remain private
- IPOs in the region have also recently taken prominence with Adnoc Drilling coming to the market as the largest IPO on the Abu Dhabi stock market
Science
Egypt looks to raise renewable energies share to 42% by 2035
Egypt is looking to increase the share of renewable energies to over 42 percent by 2035, after the country reached...
- Mohamed Shaker, the minister of electricity and renewable energy, noted that Egypt has allocated 7,650 square kilometers of unused lands to new and renewable energy projects
- He said that Egypt is the largest holder of electrical capacities in the MENA region and has the capacity to produce up to 90 gigawatts of wind and solar capacity
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Business
Apple to open outlet in Riyadh
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Business
WETEX and Dubai Solar Show hosts 1,750 global companies
DEWA CEO said that the exhibition will introduce the world to the UAE’s achievements in the renewable and clean energy...
Business
Iraq and Qatar look to boost cooperation in aviation sector
Iraq and Qatar are looking to enhance cooperation in the field of civil aviation, especially in technical, air transport, and...
Business
UAE, Russia review bilateral relations, strategic ties
The UAE foreign minister noted both the countries support each other to achieve sustainable economic growth and enhance the prosperity...
Geostrategy
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Geostrategy
UAE delegation attends meetings on sidelines of UNGA session
The UAE delegation attended the fifth day of high-level meetings on the sidelines of the 77th Session of the United...
- Khalifa Shaheen Al Marar, Minister of State, participated in a meeting organized by the US with the GCC and Egypt, Iraq, Jordan and Yemen.
- Omar Saif Ghobash, Assistant Minister for Culture and Public Diplomacy, met Frederick Mitchell, Minister for Foreign Affairs of the Bahamas.
Economy
‘More efforts needed for net zero carbon emissions by 2050’
More efforts are required to make the world reach net zero emissions by mid-century, according to the International Energy Agency's...
- Recent technology developments and policy actions suggest momentum is accelerating in some important regions and sectors to achieve net zero by 2050.
- Initial estimates point to 2022 being a record year for renewable electricity capacity additions, with an increase of about 340 gigawatts.
Economy
Dubai emerges as a driving force for a green economy
Dubai is consolidating its position as a pioneer in transitioning to a green economy to support the efforts of the...
- Dubai had launched an in-depth study that showed how the Emirate can achieve carbon neutrality (net zero emissions) by 2050.
- The Dubai Net Zero Carbon Emissions Strategy 2050 aim to provide 100 percent energy from clean energy sources by 2050.