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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.

Derna counts the cost of Libya flood disaster

Derna was home to about 100,000 people, and many of its multi-storey buildings on the banks of the riverbed collapsed,...
  • Two dams burst in Derna on Sunday after storm hit, releasing a surge of water that tore through the city, sweeping away buildings and people inside them
  • Rescue teams from The Turkey have arrived in eastern Libya, according to authorities. The United Nations and several countries offered to send aid

Red Cross warns death toll may surge as 10,000 missing in Libya floods

The death toll from freak floods in eastern Libya is expected to soar dramatically, with 10,000 people reported missing, the...
  • World Health Organization spokeswoman Margaret Harris meanwhile described the situation in Libya as "a calamity of epic proportions".
  • In eastern Libya, the storm hit the coastal town of Jabal al-Akhdar especially hard, as well as Benghazi, where a curfew was declared.

Building less, repurposing more key to low construction sector emissions

The industry is responsible for 37 percent of global carbon dioxide emissions and growing urbanization is spurring the construction of...
  • Mushrooming urban environments -- which add new buildings in an area equivalent in size to Paris every five days -- damage life-sustaining ecosystems.
  • Building less and repurposing existing structures generates 50-75 percent fewer emissions than new constructions, a report said.

150 dead in Libya after storm Daniel results in floods

"At least 150 people were killed as a result of flooding and torrential rains left by storm Daniel in Derna,...
  • The storm struck eastern Libya on Sunday afternoon, notably the coastal town of Jabal al-Akhdar but also Benghazi, where a curfew was declared.
  • Images filmed by residents of the disaster area showed massive mudslides, collapsed buildings and entire neighborhoods submerged under water.

ENEC inks MoU with OSGE

Aim is to help in decarbonization of the Polish power sector.
  • One of the aims of the agreement is exploring opportunities to invest in Small Modular Reactors.
  • Nuclear energy is recognised by both the UAE and Poland as an essential clean energy resource.

Countries must cooperate to battle sandstorm threat, say UN, Iran

Countries in the Middle East, Africa and Asia must work together to combat sand and dust storms made increasingly severe...
  • According to meteorologists, sand and dust storms are expected to increase in countries most vulnerable to climate change.
  • Iran, co-organizer of the two-day gathering, is one country where such storms are increasingly numerous.

World falling dangerously short of climate goals: UN report

Paris, France - A world facing catastrophic climate change is perilously off course in meeting goals for slashing carbon pollution and...
  • Global greenhouse gas emissions must peak by 2025 and drop sharply thereafter to keep the 1.5C target in view, the so-called stocktake said.
  • "Scaling up renewable energy and phasing out all unabated fossil fuels are indispensable elements of just energy transitions to net zero emissions," it said.

IMF, World Bank vow to address climate change threat at G20

The leaders of the International Monetary Fund and World Bank announced that the two institutions will collaborate more closely to...
  • "Climate change is a threat to global peace, security, economic stability, and development," IMF chief Kristalina Georgieva and WB President Ajay Banga said
  • The two leaders said both IMF and WB "need to help all our member countries integrate their climate and development goals"

Masdar, Africa50 sign MoU

The aim is to speed up clean energy transition in Africa.
  • Masdar brings its technical expertise and extensive experience in emerging markets and will work with Africa50 to bridge the infrastructure funding gap.
  • Africa50 brings its skill in developing projects in the continent and which, combined with Masdar, can help unlock clean energy potential.

Syria’s ancient adobe houses threatened by war, displacement

"Village Umm Amuda Kabira in Aleppo once had 3,000 to 3,500 residents and some 200 mud houses," said Mahmud al-Mheilej,...
  • Also known as "beehive houses", the conical adobe structures are designed to keep cool in the blazing desert sun while their thick walls also retain warmth in the winter
  • Umm Amuda Kabira village in Aleppo province is among a handful of places where residents long used to live in the small domed houses, made of mud mixed with brittle hay

Qatar to invest 1 bn pounds in climate technologies with UK

London, United Kingdom - The British government said Wednesday that it has agreed to a partnership with Qatar that will see...

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Turkmenistan worried as Caspian Sea continues to shrink

Turkmenbashi, Turkmenistan - On the Caspian Sea coast in Turkmenistan, Batyr Yusupov can no longer ferry his passengers between two ports....

London’s transport shifts gears with TfL’s cargo bike action plan

London, United Kingdom - On a busy north London street, plumber Ben Hume-Wright zipped through the heavy rush-hour traffic to his...

ENEC announces completion of Unit 4 of Barakah Nuclear Energy Plant

The Federal Authority for Nuclear Regulation (FANR), the UAE's independent nuclear regulator, recently issued the Operating License for Unit 4...

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Innovative solutions crucial for marine conservation

The MENA Oceans Network, launched at the COP28, marks a pivotal step in addressing urgent ocean-related challenges in the region,...
  • The MENA Oceans Network, launched at the COP28, marks a pivotal step in addressing urgent ocean-related challenges in the region, says Tatiana Antonelli Abella of Goumbook.
  • This multi-stakeholder initiative, supported by the UN-UAE Office, aims to enhance marine conservation, promote a sustainable blue economy, and support SDG14 drive, she adds.

COP28 initiatives to narrow climate finance disparity

Antoine Samaha of BCG applauds the launch of a Loss and Damage Fund for developing countries, emphasizing the need for...
  • At COP28, a significant focus was placed on climate finance, with the establishment of a Loss and Damage Fund to aid developing countries.
  • Antoine Samaha of BCG underscores the urgency of securing more funds and ensuring its equitable distribution to combat climate change.

UAE, Turkey explore ways to enhance bilateral relations

Abu Dhabi, UAE - UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed bilateral ties with Recep Tayyip Erdogan, President...
  • UAE President Al Nahyan and Turkish president Erdogan also exchanged views on various regional and international issues of mutual interest.
  • The two leaders emphasized the importance of an immediate ceasefire in the Gaza Strip, ensuring the protection of civilians .