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ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

Masdar City to construct region’s first net-zero energy mosque

Abu Dhabi, UAE - Masdar City, an Abu Dhabi, UAE-based sustainability and innovation hub dedicated to making all cities a...
  • The mosque’s total energy requirements were reduced by 35 percent compared to international baselines using passive design
  • Low-flow water fixtures, drought-resistant landscaping, and the use of recycled water for irrigation will reduce water use by 55 percent

We respect climate science, says COP28 head

DUBAI, UAE - The Emirati president of the UN's COP28 talks said on Monday he respects climate science, after a leaked...
  • Sultan Al Jaber also repeated his past statements that a phase out of fossil fuels was "inevitable".
  • He acknowledged that global greenhouse gas emissions must be cut by 43 percent by 2030.

Saudi energy minister calls Western climate pledges ‘small change’

"Unlike the small change offered for loss and damage from our partners in developed countries, the Kingdom through its South-South...
  • The loss and damage fund for vulnerable nations, a major win at COP28, has attracted about $655m so far, a sum criticized as insufficient by campaigners.
  • The prince's remarks were the latest sign of sharp differences around tackling the climate crisis as negotiators from around the world attempt to hammer out an agreement in Dubai.

$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."

Divided G20 fails to agree on climate action, Ukraine war escalation dominates Rio summit talks

G20 leaders in Rio failed to resolve UN climate talks deadlock, merely stating funding for developing countries battling global warming...

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EU seeks 90 percent drop in greenhouse emission by 2040

Strasbourg, France - The EU on Tuesday urged a 90-percent cut to its greenhouse gas emissions by 2040, even as the...

Paris Olympics’ organizers worry heatwave can spell trouble for games

A new study presenting "climate simulations to anticipate worst-case heatwaves during the Paris 2024 Olympics" has focused minds after it...

Embracing renewables secures UAE’s green future

"COP28 saw all parties reach an agreement on the historic ‘UAE Consensus.’ This consensus includes achieving a well-organized, responsible, fair,...

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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...
  • Saudi Arabia’s participation in the annual meet underscores its pivotal role in the transition toward carbon neutrality.
  • The Kingdom’s engagement provides an opportunity for communication with key players in the private sector globally.

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...
  • Climate change intensified heatwaves, droughts and wildfires and pushed the global thermometer 1.48 C in 2023 above the preindustrial benchmark.
  • Nearly half of 2023 exceeded the 1.5C limit, beyond which climate impacts are more likely to become self-reinforcing and catastrophic, said scientists.

Energy companies to test CO2 capture in Brazil undersea oil field

PARIS, FRANCE  - A consortium of Brazilian, British, French and Chinese energy firms will test new technology aimed at capturing CO2...
  • The pilot unit will separate oil from CO2-rich natural gas at the bottom of the ocean and reinject the gas directly into the reservoir, TotalEnergies said.
  • The company said the high pressure subsea separation (HISEP) technology has the potential to reduce the intensity of greenhouse gas emissions.