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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.

AI talking trees feature at Chelsea Flower Show

London, United Kingdom -- Talking trees powered by AI, drought-resistant crops and sweet potatoes sprouting among flowers -- the prestigious...

Tropical cyclone kills two, displaces 10,000 in Yemen

Tropical cyclone TEJ made a landfall over the coast of Al Mahra governorate, in the country's southeast, late on Monday...
  • The storm has flooded roads, submerged cars and forced Yemen Red Crescent volunteers in Al Mahra to temporarily suspend operations
  • It cut off telecom lines and sent hundreds of families into shelters and schools, said Brigadier General Hakeem al-Mutairi from the army's Al Mahra division

Red Sea Global builds largest off-grid EV charging network in Saudi Arabia

RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala...
  • The network includes more than 150 charging stations spread across phase one of The Red Sea destination area.
  • The stations are placed to keep RSG’s initial fleet of 80 electric Lucid and Mercedes vehicles charged and on the road.

Dubai’s sustainable vision beyond skyline

Dubai is prioritizing renewable energy, sustainable design, water conservation, and biodiversity protection. Its commitment to a sustainable future showcases its...
  • Dubai, renowned for its iconic skyline and luxury, is now leading the charge against climate change with investments and initiatives such as Dubai Clean Energy Strategy 2050
  • The emirate prioritizes public transit, electric vehicles, and waste-to-energy solutions, placing global collaboration and partnerships at the heart of its climate strategy

Yellen urges more IMF, World Bank reforms for climate, poverty fight

Benguerir, Morocco - US Treasury Secretary Janet Yellen said on Tuesday she backed efforts to boost the lending firepower of the...
  • Yellen said the World Bank's board of governors will endorse at this week's meetings in Marrakesh a new vision to "end poverty on a livable planet"
  • "It has become common sense that addressing climate change and other global challenges is key to achieving development," she said

First wind turbines reach Saudi green hydrogen plant, says CEO

RIYADH, SAUDI ARABIA - The first wind turbines have arrived at what Saudi officials bill as the world's biggest green hydrogen...
  • Around 30 turbines are expected to be delivered by the end of the year along with the project's first solar panels.
  • The $8.4 billion NEOM green hydrogen plant is expected to reach full production by the end of 2026.

Saudi Arabia unveils roadmap to achieve 10-billion tree target

Riyadh, Saudi Arabia -- Saudi Arabia has unveiled an ambitious roadmap to achieve its monumental goal of planting 10 billion...
  • The roadmap outlines a plan for Saudi Arabia's various habitat zones to achieve maximum vegetation coverage.
  • By 2030, the initiative aims to plant over 600 million trees, rehabilitating approximately 3.8 million hectares of land.

Saudi Arabia launches mechanism to advance global climate goals

RIYADH, SAUDI ARABIA - The Clean Development Mechanism Designated National Authority (CDMDNA) announced on Monday the operation of Saudi Arabia's...
  • Greenhouse Gas Crediting and Offsetting Mechanism will be accessible to all entities within the Kingdom.
  • This step reflects the Kingdom’s role in addressing climate challenges and enabling institutions to tackle their emissions.

OPEC sees no peak in global oil demand on the horizon

In its 2023 annual report, the Organization of the Petroleum Exporting Countries forecasts demand for crude to reach 116 million...
  • According to OPEC, whose 13 member states include Saudi Arabia, the Gulf states and Venezuela, oil demand will be driven by emerging and developing nations.
  • OPEC also backed developing technological solutions to reduce emissions, such as carbon capture and storage.

Saudi Arabia, India ink MoU on electrical interconnectivity, green hydrogen

RIYADH, SAUDI ARABIA - India and Saudi Arabia signed a Memorandum of Understanding (MoU) here in electrical interconnection, green/clean hydrogen,...
  • The signing took place during the Middle East and North Africa Climate Week 2023 in Riyadh, Saudi Arabia.
  • The MoU was signed by Saudi Arabia’s Minister of Energy and India’s Minister of Power and New and Renewable Energy.

MOCCAE and Tadweer sign MoU to launch ‘Waste to Zero’ initiative

Abu Dhabi, UAE -- UAE's Ministry of Climate Change and Environment (MOCCAE) and Abu Dhabi Waste Management Company (Tadweer) have...
  • The initiative is part of the Year of Sustainability and UAE's preparations for hosting the Conference of the Parties COP28.
  • The initiative aims to strengthen the UAE's role in leading global action and contribute to international efforts to achieve the 43% emission reduction target by 2030.

AI talking trees feature at Chelsea Flower Show

London, United Kingdom -- Talking trees powered by AI, drought-resistant crops and sweet potatoes sprouting among flowers -- the prestigious...

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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...

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...

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...

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Sheikh Hamdan issues resolution regulating single-use products in Dubai

DUBAI, UAE -  Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive...
  • The aim of the resolution is to protect the environment, encourage people to adopt an eco-friendly lifestyle.
  • The move also aims to encourage the private sector to promote the use of recycled products.

GCC forges ahead in sustainable tech initiatives

In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant...
  • In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant green transition in the region.
  • The GCC's commitment to sustainable technology initiatives, including advancements in renewable energy, green hydrogen, and smart city solutions, make it a global leader.

IsDB, SWCC sign agreement

The collaboration will involve efforts from both parties.
  • The agreement includes a mechanism for exchanging knowledge and experiences.
  • It would involve transferring the experience of SWCC to the member countries of IsDB.