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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 host faith leaders for climate crisis summit prior to COP28

Abu Dhabi, UAE - A global summit for faith leaders from around the world will take place in Abu Dhabi...
  • Faith leaders representing the world’s major religions will discuss the ethical responsibilities of faith leaders in addressing the climate crisis
  • The meeting will also address the collaboration between faith and science to bridge the gap between empirical evidence and spiritual teachings

2023 likely to be hottest year in human history, says EU climate monitor

"2023 is the year that climate records were not just broken but smashed," said Mark Maslin, a professor of climatology...
  • The average global temperature in June, July and August was 16.77 degrees Celsius (62.19 degrees Fahrenheit), surpassing the previous 2019 record of 16.48C.
  • "The three months that we've just had are the warmest in approximately 120,000 years, so effectively human history," C3S deputy director Samantha Burgess told AFP

Climate change worsening heatwaves, air quality: UN

The wildfire smoke recently suffocating cities from Athens to New York may be the most visible sign of air pollution...
  • Fine particulate air pollution from things like vehicle and industrial emissions but also sand and wildfires, is greatest external threat to public health, a recent study said
  • On Wednesday, the EU's Copernicus Climate Change Service said the Earth had just had its hottest three months on record, with last July the hottest month ever recorded

World inches step closer towards plastic pollution deal: UN

Some 175 nations are working to reach a landmark agreement by end-2024 that will curb plastic pollution, which ends up...
  • Global plastic production has more than doubled since the start of the century to reach 460 million tons and could triple by 2060 if nothing is done. Only 9% is currently recycled.
  • The draft deal, published by the Intergovernmental Negotiating Committee, will form the basis of fresh talks in the Kenyan capital, Nairobi, on November 13-19.

UAE and Africa strengthen carbon market collaboration

"Our collaboration with the Africa Carbon Markets Initiative provides carbon market buyers in the UAE and wider region with access...
  • The UAE Carbon Alliance has signed a Letter of Intent for a US$450 million purchase of African carbon credits by 2030
  • Collaboration with Africa Carbon Markets Initiative will provide UAE with access to high-quality carbon credits from Africa

Tech’s carbon footprint: can AI revolutionize responsibly?

The planet's 8,000 or so data centers are the foundation of our online existence, and will grow ever further with...
  • In 2019, researchers trained several large language models, and found that training a single AI model can emit the CO2 emission equivalent of five cars over their lifetimes.
  • Between 2010 and 2018, global data center energy use rose by only 6 percent, despite a 550 percent increase in workloads and computing instances, according to the IEA.

Istanbul dams run low after scorching, dry summer

The bank of screens in Ismail Aydin's Istanbul water management system control room flashes a worrying number: 29.7 percent. That...
  • Turkey as a whole experienced the hottest July on record and broke the 50-degree Celsius (122-degrees Fahrenheit) mark for the first time in modern history on August 14
  • The city could ship in extra supplies of water by sea or road should the dams run completely dry -- although no specific plans have been laid yet for that gloomy possibility

UAE economy expected to grow by 3.5 percent in 2023, says UBS

ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
  • The bank's positive outlook on the UAE’s medium-term growth prospects is supported by strong demand for its oil exports and energy investments.
  • The bank also expects a strong 4.5 percent expansion for the non-energy part of the economy for this year.

Renewables helped save $520bn fuel costs globally in 2022: Report

In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up...
  • In addition to these direct cost savings, there would be substantial economic benefits from reducing CO2 emissions and local air pollutants.
  • IRENA’s Director-General Francesco La Camera said the world must add 1,000 GW of renewable power annually on average every year until 2030 to keep 1.5°C within reach.

China, Arab nations establish centre to solve desertification, land degradation

Beijing, China - China and Arab nations have agreed to establish China-Arab International Research Centre for Drought, Desertification, and Land...
  • China is one of the leading countries in desertification control and the country also has technologies that can be exemplars for Mongolia and the rest of the world
  • Government representatives in attendance at the meeting signed the MoU on building the centre and launched the first batch of collaborative projects

Plastic pollution talks South Korea fail to reach landmark deal

Busan, South Korea - Deeply divided negotiators failed on Sunday to reach a landmark global treaty to curb plastic pollution, missing...

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New platform to revolutionize global sustainability

World Wide Generation's and e& join hands to combine innovative technology and global collaboration to address critical environmental, social, and...

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,...

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...

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Gulf expects no change in oil export despite deal at COP28

Dubai, UAE - An agreement to "transition away" from fossil fuels may be a landmark moment but don't expect quick changes...
  • The deal "doesn't impose anything" on oil-producing countries and allows them to cut emissions "according to their means and their interests", Saudi minister said.
  • The United Arab Emirates' official WAM news agency called it a "win-win for all", describing COP28 as a "watershed moment in the fight against climate change".

‘Nuclear solutions remain key to sustainable future’

“In the context of energy transition, flexibility is gaining more traction in the energy markets. This is exactly what small...
  • Kirill Komarov of Rosatom underscores the importance of nuclear power in combating climate change.
  • SMRs have become crucial for decarbonizing remote areas reliant on carbon-intensive diesel generators.

Tunisian villages grapple with severe water scarcity

Ouled Omar, Tunisia - Tunisian villager Ounissa Mazhoud ties two empty jerry cans to a donkey and cautiously descends a stony...
  • The World Bank predicts that by 2030 the Middle East and North Africa region will fall below the "absolute water scarcity" threshold of 500 cubic meters yearly per person.
  • Tunisia, already the 33rd most water-stressed country according to the World Resources Institute, has dropped to 450 cubic meters per inhabitant