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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

‘Private sector plays key role in climate resilience’

Private sector has the ability to mobilize resources and foster innovative solutions for vulnerable communities, Dominica's Environment Minister Cozier Frederick...
  • Private sector has the ability to mobilize resources and foster innovative solutions for vulnerable communities, Dominica's Environment Minister Cozier Frederick tells TRENDS.
  • Optimistic about COP28's impact and the crucial Loss and Damage Fund, the minister underscores the need for a bottom-up approach and community involvement in climate action.

NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi

NEOM, Saudi Arabia: NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...
  • Topian has been launched with the support of the Saudi Ministry of Environment, Water and Agriculture (MEWA).
  • Topian has signed numerous local and international strategic partnership agreements with organizations that share Topian’s commitment to reshaping the future of food.

Progress but divisions persist as climate summit fights over fossil fuels

Colombia, whose left-leaning government has aggressively promoted environmentalism, warned that COP28 was also failing on raising financing for countries to...
  • A third draft of fossil fuel deal, released on Friday, offers various ways to phase out fossil fuels but also includes the option to avoid the issue entirely
  • OPEC Secretary-General Friday urged the cartel's 13 members and 10 allies to "proactively reject" any language that "targets" fossil fuels rather than emissions

Faster hydrogen production needed for energy transition: WTO

Abu Dhabi, UAE-- In order to speed up the energy transition there must be a fast increase in the production...
  • IRENA believes that hydrogen and its derivatives would meet 14% of global final energy consumption in 2050
  • Hydrogen generated from renewable power is recognised as a key pillar in replacing fossil fuels and decarbonising sectors

Protestors demand end of fossil fuels, Gaza war at COP28

The demonstrators chanted "Climate justice!" and "Ceasefire now!" as they held pro-environment banners painted in the colors of the Palestinian...
  • The 'Blue Zone' where the COP28 talks are taking place is currently under UN control.
  • At least 17,490 people, mostly women and children, have been killed in Israeli attacks

UAE to tie up with ACSAD to achieve zero neutrality by 2050

Dubai, UAE--The Arab Centre for the Studies of Arid Zones and Dry Lands (ACSAD) will partner with the UAE's Ministry...
  • ACSAD has offered at COP28 several solutions to the problem presented by climate change, including challenges like dealing with water scarcity and food security
  • Dr. Homsi said that Arab summits had given ACSAD the task to implement a number of projects, such as the production of wheat varieties resistant to drought, high temperatures

OPEC chief says ‘single solution’ non existent for energy transition

Dubai, UAE - The OPEC oil cartel said Saturday there was no "single solution" to the energy transition as pressure grows...
  • "There is no single solution or path to achieve a sustainable energy future," said a speech by OPEC secretary general Haitham Al Ghais
  • "We need realistic approaches to tackle emissions, ones that enable economic growth, help eradicate poverty and increase resilience at the same time," he said

China pushes for ‘acceptable’ to all deal on fossil fuel at COP28

Despite efforts by the OPEC oil cartel to block any text targeting fossil fuels at COP28, Chinese envoy Xie Zhenhua...
  • Negotiations in Dubai have focused on calls to phase out the global extraction of oil, gas and coal in hopes of tackling the planet's worsening climate change.
  • The roles of China and the US are considered crucial for the world to make any progress in efforts to limit warming to 1.5 degrees Celsius.

OPEC implores members to oppose any COP28 deal targeting fossil fuels

Dubai, UAE--The head of OPEC has urged members of the oil cartel to reject any deal at UN climate talks...
  • The OPEC chief urged members to reject any text or formula that "targets energy i.e. fossil fuels rather than emissions"
  • On Friday, negotiators released an updated text that still includes various options for exiting oil, gas and coal

Fossil fuels usage must end by 2040 to restrict warming to 1.5C

In a note to the UN Secretary-General Antonio Guterres and UN Climate Change body, shared with AFP, climate scientists from...
  • The steep timeline they laid out comes as climate negotiators at the COP28 talks in Dubai are tussling over the future of oil, gas and coal.
  • The UN climate negotiations are tasked with helping the world meet the Paris deal goal of limiting global warming to 1.5 degrees Celsius.

UN summit to tackle ’emergency’ in world’s oceans

Nice, France - A global summit on the dire state of the oceans kicks off Monday in France, with calls...

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No oil and gas majors aligned with climate targets: report

An A grade would be potentially aligned with the goals of the 2015 Paris Agreement to limit temperature rise to...

Methane emissions under spotlight at global forum in Geneva

Methane emissions from the fossil fuel industry have risen for three consecutive years, according to the International Energy Agency (IEA),...

Women, rural poor most affected by climate change, says UN

PARIS, FRANCE – Heatwaves and floods inflict greater economic pain on rural women than men because climate change intensifies existing inequalities,...

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World resource extraction could surge 60 percent by 2060, UN warns

Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
  • The hunger for natural resources -- everything from food to fossil fuels -- keeps growing by an average of more than 2.3 per cent per year, it said.
  • Extraction and processing of the huge amount of resources accounts for over 60 percent of planet-warming emissions, the report said.

WEF24: Catalyzing investment, trade transform Africa

Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell...
  • Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell TRENDS in an interview.
  • Prosper Africa is a national security initiative aimed at providing supportive and positive assistance to the continent, ensuring its efforts are beneficial and not exploitative.

Wind-powered Dutch chemical tanker sets sail for greener future

Rotterdam, Netherlands - The world's first chemical tanker ship fitted with massive rigid aluminium "sails" has left Rotterdam, its owner hoping...
  • The MT Chemical Challenger, a 16,000-ton chemicals transporter set sail from Antwerp for Istanbul on Friday, and will undergo sea trials along the way
  • "As an avid sailor myself, I have been thinking for a long time how we can make our industry more sustainable," said Niels Grotz, chief executive of Chemship