Money, mining and marine parks: The big issues at UN ocean summit
Nice, France -- France is hosting world leaders this week to confront what the United Nations calls a global "emergency"...
Geostrategy
Nations divided ahead of decisive week for shipping emissions
London, United Kingdom -- Members of the International Maritime Organization (IMO) are divided over whether to approve a carbon tax on...
Geostrategy
Science
Antarctic sea ice hits lowest winter maximum on record, says data
WASHINGTON, US - The sea ice around Antarctica likely had a record low surface area when it was at its maximum...
- The ice pack typically reaches its largest size during the colder winter months, so the September 10 reading will likely remain this year's maximum.
- At its high-point this year, the sea ice was 1.03 million square kilometers smaller than the previous record.
Business
Rising demand for critical metals pose dilemmas for investors
PARIS, FRANCE - Soaring demand for the raw materials needed for the transition towards renewable energy is creating dilemmas for investors...
- Demand for lithium, an essential component of car batteries, could increase ninefold between 2022 and 2050, said the International Energy Agency.
- Lithium and other metals that the IEA calls “key to the clean energy transition” will be the topic of a summit hosted by the global energy watchdog in Paris.
Business
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
- A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
- ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.
Geostrategy
UAE minister calls for climate action by promoting nature-based solutions
NEW YORK, US – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri called upon the global...
- The minister made the comments during high-level meetings on the sidelines of the 78th United Nations General Assembly in New York.
- Mariam Almheiri, who is also the COP28 Food Systems Lead, highlighted the prominence placed by the UAE on food and agriculture in COP28 agenda.
Geostrategy
King Charles urges joint French-English effort on climate change
"Just as we stand together against military aggression, so must we strive together to protect the world from our most...
- He suggested that France and Britain should team up to tackle the climate and biodiversity emergencies with a new version of the 1904 Entente Cordiale pact
- Charles' latest call on the environment came a day after Britain's PM Rishi Sunak softened green policies aimed at achieving net zero carbon emissions by mid century
Business
UK to revoke plan to attain net zero emissions by 2050
LONDON, UK- The UK looked set to backtrack on Wednesday on policies aimed at achieving net zero emissions by 2050 with...
- The move comes amid growing concern over the potential financial cost of the government's policies to achieve net zero carbon emissions by mid-century.
- Prime Minister Sunak said while the government was committed to the net zero target, it would try to achieve it "in a better, more proportionate way".
Business
TotalEnergies, Adani Group set up JV for wind, solar power production in India
PARIS, FRANCE - French firm TotalEnergies and Indian group Adani unveiled plans on Wednesday to create a joint venture to develop wind...
- The JV will include wind and solar assets that Adani Green Energy Limited already operates and is building and developing in India.
- TotalEnergies has been developing renewable electricity production, with 19 GW of installed gross production capacity as of July 2023.
Economy
Climate action an opportunity to create more equitable world: Almheiri
Dubai, UAE-- Terming climate action as an opportunity to create a more equitable and sustainable world, Mariam bint Mohammed Almheiri,...
- The minister said the UAE believes that science, innovation and technology are the tools humanity needs to drive collective progress on climate action
- Almheiri asserted that COP28 is a chance to turn the world’s collective focus to conclude the first Global Stocktake of the Paris Agreement
Geostrategy
Three firefighters die in Turkey helicopter crash
ISTANBUL, TURKEY - Turkish divers searched on Sunday for the bodies of three firefighters who died when their helicopter crashed into...
- Turkey has funnelled resources into its emergency response efforts after being gripped by devastating fires in 2021.
- Global warming is changing weather patterns and contributing to a years-long drought across swathes of Turkey.
Business
California sues oil giants, alleges environment, climate-risks deception
The US state of California sued five of the world's largest oil companies, alleging the firms caused billions of dollars...
- The suit follows numerous other cases brought by US cities, counties and states against fossil fuel interests over the impact of climate change.
- The suit seeks the creation of an abatement fund to pay for future damages caused by climate disasters in California.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Money, mining and marine parks: The big issues at UN ocean summit
Nice, France -- France is hosting world leaders this week to confront what the United Nations calls a global "emergency"...
Geostrategy
Company News
Latest News
Race against time after deadly Japan quake
The 7.5-magnitude quake, which hit Ishikawa prefecture on the main island of Honshu, triggered tsunami waves more than a meter...
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...
Geostrategy
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...
Business
Most Read
Economy
Sustainable mobility rises as GCC turns to hydrogen
MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National...
- MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National Hydrogen Strategy.
- The BMW Group's innovative electric and hydrogen vehicles, showcased at COP28, underscore a pivotal shift in the GCC and MENA regions towards a greener, cleaner future.
Economy
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
- The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in the region.
- Siemens Energy will support IDB to localize the manufacturing capabilities in Abu Dhabi and provide technological solutions.
Business
Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
- The government aims to raise renewable energy-based hydrogen production to at least one million metric tonnes (mt)/year by 2030.
- Local state-owned enterprise Hydrogen Oman (Hydrom) signed six investment agreements, worth over US$38 billion, with partners in 2023.