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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

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.

COP28 president Sultan Jaber pushes for rapid fossil fuels draft deal

Climate campaigners have viewed Jaber with deep suspicion due to his position as the head of UAE national oil firm...
  • Despite disagreements over the future of fossil fuels, Jaber voiced optimism that the talks hosted by the oil-rich UAE can finish with a historic deal
  • A draft deal was released on Tuesday but negotiators failed to produce another text on Wednesday before heading into the break

Renewable energy, sustainability drive GCC growth

The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for...
  • The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for the region.
  • Investments in solar and wind power in Saudi Arabia and the UAE mark a clean energy shift, reshaping consumer behavior and the financial sector, creating new jobs and industries.

COP28 strong push for climate action in Arab region

"The UNDP has spent approximately $1 billion in the Arab region for integrated development solutions driven by national priorities and...
  • Launch of the Loss and Damage Fund at COP28 marks a crucial step in supporting climate action in the Arab region.
  • UNDP's significant investment of $1bn in the Arab region focuses on integrated development aligned with national priorities.

99 percent of world live in areas with air pollution levels above WHO guideline limits

DUBAI, UAE - According to World Health Organization data, 99 percent of the world’s population lives in places where air...
  • Leading businesses recognize that they have an important role in reducing air pollution alongside greenhouse gas emissions.
  • Business activity contributes significantly to air pollution globally but air pollution is not prioritized nor integrated into climate action.

People-positive approach needed in clean power transition: WEF paper

Dubai, UAE -- Building massive infrastructure for clean power projects in pursuit of climate goals will need nearly $4.5 trillion in...
  • The white paper calls for a dialogue between the industry and community groups and NGOs to define common standards for a people-positive energy transition.
  • It also urges governments to not only focus on the lowest price but also the wider societal value creation in their transition plans.

Use of eco-friendly rice bricks surges in water-scarce Kyrgyzstan

Rice blocks require less cement, which is responsible for approximately eight percent of global carbon dioxide emissions, according to 2023...

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Sprinklers and drip irrigation help Iraqis beat drought

After four years of drought, Iraqi farmer Mohammed Sami was about to abandon his father's parched land, but then a...

Poorer countries need money before raising climate targets, says COP29 head

Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available...

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...

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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,...
  • The report said rural, women-led households in low- and middle-income nations already face more financial burdens than men when disaster strikes.
  • It estimated that if average temperatures increase one degree Celsius, women would face a 34 percent greater loss in total income compared to men.

Above-normal temperatures for March-May due to El Nino: UN

El Nino, the large-scale warming of surface temperatures in the central and eastern equatorial Pacific Ocean, typically has the greatest...
  • Though El Nino is now gradually weakening, its impact will continue over the coming months by fuelling the heat trapped in the atmosphere by greenhouse gases
  • It is a naturally occurring climate pattern typically associated with increased heat worldwide, as well as drought in some parts of the world and heavy rains elsewhere

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.