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Climate Change

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

$272 billion sustainable finance pledge by UAE financial sector at COP28

Abu Dhabi, UAE -- The financial sector of the United Arab Emirates commits to mobilizing more than AED 1 trillion...
  • The commitment to mobilize AED 1 trillion was made by the UAE Banks Federation at an event held on Finance Day at COP28.
  • Financial sector's engagement is critical to realize our collective climate ambitions, ensuring that the 1.5°C target remains within reach, said COP28 President Sultan Al Jaber.

Saudi Arabia, Turkiye strengthen collaboration in agriculture, water management

RIYADH, SAUDI ARABIA – The Kingdom's Minister of Environment, Water and Agriculture Eng. Abdurrahman bin Abdul Mohsen Al-Fadhli signed a...
  • Saudi Arabia and Turkiye expressed their commitment to prepare the agricultural sector in both the countries for climate change.
  • The MoU aims to strengthen cooperation and enhance production capabilities in the domains of agriculture, livestock and water management.

Masdar, EDF to develop up to 3.6GW of hydropower, renewable projects in Kyrgyzstan

Dubai, UAE – Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse, and EDF have signed an agreement...
  • The Kyrgyz Republic has set a target of reducing greenhouse gas emissions by as much as 44 percent by 2030, and achieving carbon neutrality by 2050
  • Central Asia is a significant emerging market for Masdar which has several agreements to develop solar and wind projects in the region

Tunisia aims to reach 30% renewable energy by 2030: Delegate to COP28

Dubai, UAE - Tunisia has set a goal to reduce greenhouse gas emissions by 45 percent by 2030, and is...
  • Bringing attention to the modest 4 percent share of renewable energy, the delegate highlighted the environmental challenges it poses
  • Tunisia is one of the first countries to announce its intention to achieve carbon neutrality by 2050, the delegate added.

MENA region can create 10m jobs by 2050 via climate action, says ILO

DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...
  • The trend towards renewable energy has helped to create 13.7 million jobs in the sector worldwide.
  • The ILO is participating in COP28 to ensure that climate change efforts include to monitor the impact on jobs.

Maghreb farmers fight climate change with drones

The use of modern technologies in agriculture is globally on the rise, including in North Africa where countries rank among...
  • Tunisia is currently experiencing its eighth year of drought (four of which were consecutive) in recent years, according to its agriculture ministry.
  • Algeria, Morocco and Tunisia ban the use of unmanned drones without a permit, which in the case of commercial uses can take months to be issued.

World Bank offers to host Lost and Damage Fund: Official

Dubai, UAE -- "World Bank has offered to host the Lost and Damage Fund, so we'll work very closely with...
  • Axel van Trotsenburg, Senior Managing Director, said, "“COP28 started with great announcements on the Loss and Damage Fund. I think it has been an extremely important decision."
  • "We need to be global. We need all countries to participate in this global challenge," he noted, adding, "We need to make sure that we can keep the 1.5 degrees."

Morocco gardening school cultivates hope for marginalised youth

Launched by the Islamic Culture Foundation in 2018, Bouregreg Med-O-Med school provides free training to dropouts and other marginalized youths...
  • Bouregreg Med-O-Med school in Morocco aims to raise awareness about climate change while promoting the social inclusion of marginalized young people
  • The school has a nursery of local plants that are better adapted to water stress, which is crucial for Morocco as the country suffers its worst drought in almost 40 years

COP28 ignites key climate change talks in Arab world

"The event focuses on transitioning the energy sector, demonstrating how strategic investments can foster prosperity without solely relying on fossil...
  • Colombia's President Gustavo Petro emphasizes the significance of COP28 for addressing climate issues.
  • Petro stresses on the transition from traditional energy sources to sustainable alternatives to save the Earth.

50 oil and gas companies pledge to cut operational emission in COP28 meet

DUBAI, UAE - Fifty oil and gas companies representing 40 percent of global production pledged to decarbonize their operations by 2050...
  • The charter is part of a set of initiatives designed to accelerate the decarbonization of the global energy industry.
  • They are voluntary commitments unlike the decisions of COP28, which are taken by consensus between nearly 200 countries.

How harmful are microplastics to human health?

A New England Journal of Medicine study found microplastics in blood vessels are linked to higher risks of heart attack,...

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France flooded with applications for electric car leasing scheme

Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...

Saudi Arabia to highlight role in dealing with global challenges at WEF meet

RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...

2023 hottest recorded year as Earth nears critical threshold

PARIS, FRANCE - The year of 2023 was the hottest on record, with the increase in Earth's surface temperature nearly crossing...

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Makkah region sees 600% surge in green spaces within 5 months

Jeddah, Saudi Arabia - There has been a 600% increase in green spaces in Makkah region from August to December...
  • Remote sensing data analysis revealed that the total area of vegetation cover in Makkah in August was 3,529.4 square kilometers
  • This area gradually rose over the following months with increased rainfall, reaching 26,256 square kilometers by the end of the year

Japan quake toll rises to 62 as weather hampers rescuers

The 7.5-magnitude quake on January 1 that rattled Ishikawa prefecture on the main island of Honshu triggered tsunami waves more...
  • The regional government of Noto Peninsula announced Wednesday that 62 people had been confirmed dead and more than 300 injured, 20 of them seriously
  • JMA said the quake which triggered a major tsunami warning, had a magnitude of 7.6 and was one of more than 400 to shake the region through Wednesday morning

Jordan takes steps to raise position in Global Food Security Index, says minister

AMMAN, JORDAN - Agriculture Minister Khaled Al-Hneifat said the ministry has been working hard over the past year to create...
  • One of the points to achieve this goal are the creation of a national database for food security.
  • The other is the issuance of a unique system for the Food Security Council, the minister said.