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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.

Years of coal plant expansion torment Turkey’s villagers

Villagers and environmental activists have been locked in clashes with the police in the southwestern Mugla province since their plant...
  • An AFP tour of five Turkish coal-fired power plant villages witnessed the high human cost of relying on the outdated, highly polluting energy source.
  • Turkey was the last among the G20 economies to ratify the Paris Climate Accords, doing so only after the environment became a top issue in the wake of deadly wildfires.

Canada’s fires in north force another town to evacuate

Canada is suffering through its worst forest fire season in recorded history, with much of the country hit by high...
  • The threat to Hay River, a town of about 4,000, was so great that even firefighters and essential workers were ordered to leave, authorities said
  • At this point, some two-thirds of the entire population of Northwest Territories has been evacuated to neighboring provinces, sometimes 1,200 miles away

COP28 to help green transition in developing nations

"International reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change...
  • The UAE's hosting of the COP28 will act as a leverage for international focus on climate action in the region
  • Reports indicate that the Middle East and North Africa region is the most vulnerable to climate change risks

Climate change to be discussed in Dubai COP28 meet, says Egypt minister

Cairo, Egypt - Egyptian Minister of International Cooperation Dr. Rania Al Mashat, said the 28th Conference of the Parties to...
  • noted that international reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change risks
  • Al Mashat added that COP28 will see presentations on the most important results and joint action taken over a year within the National Platform for Green Projects

Dubai Chambers saves water, works on sustainability agenda

DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres...
  • The savings were achieved as part of the chambers’ participation in Dubai Can, a sustainability initiative launched by the Crown Prince of Dubai.
  • Dubai Can is aimed at educating and mobilising all segments of society to reduce waste and protect the environment.

Greek firefighters struggle to control wildfires for sixth day

Athens, Greece--Hundreds of firefighters in Greece struggled Thursday to gain the upper hand against major wildfires burning unchecked for a sixth...
  • Threatening a national park, a huge blaze continued to burn on Mount Parnitha near Athens, in the largest forest adjoining the capital
  • According to a government minister, Greece was going through the worst summer of fires since fire-risk maps were introduced in 2009

COP28 will provide a pivotal moment in climate action

The conference will focus on practical aspects, unifying action, and establishing partnerships, as well as aligning efforts to transition from...
  • COP28 will focus on practical solutions, unifying global action, and fostering partnerships, says IUCN chairwoman
  • The conference aims for a "human-centric" approach, emphasizing nature, food, health, and climate resilience, she adds.

Schools shut in Makkah region after heavy storms and downpour

The meteorology center warned of further storms on Wednesday bringing rain, wind and thunder to the Mecca region and elsewhere...
  • The storm brought gale force winds exceeding 80 kilometers (50 miles) per hour, Hussein al-Qahtani, spokesman for the National Centre for Meteorology.
  • The Makkah neighborhood of Al-Kakkiyah recorded 45 millimeters (1.8 inches) of rain within 24 hours, the meteorology center shared in a post on X.

UAE stands ready to host COP28: Almheiri at the start of 100 day countdown

Abu Dhabi, UAE - The UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri, affirmed on Tuesday...
  • Almheiri underscored the UAE's pivotal role in advancing global climate initiatives and safeguarding natural environment and earth
  • She said that in the context of the UAE’s 'Year of Sustainability' in 2023, the 100 days before COP28 will see the launch of myriad of initiatives

Sustainable finance helps achieve net-zero emissions

"Together, we are working under the direct supervision of the Central Bank of the UAE to further advance sustainable finance...
  • Six major UAE banks have dedicated over US$51.8 billion in green financing for renewable energy, waste-to-energy, and green technology projects
  • UBF members will play a critical role in integrating environmental values into business and industrial progress during the upcoming COP28, says its chief

Saudi Arabia hosts UN talks on drought, desertification

Riyadh, Saudi Arabia - Saudi Arabia will host the COP16 UN conference on land degradation and desertification next week as the...

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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...

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...

‘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...

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World Bank to expand climate funding in MENA by $10 billion

Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to...
  • The funding supports both reducing net emissions and resilience projects, said Meskerem Brhane, the bank's Regional Director for Sustainable Development, MENA.
  • She added that by embracing green growth strategies, the region's GDP could potentially grow to over $13 trillion by 2050.

World unites at COP28 to shift away from fossil fuels

Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...
  • Nearly 200 countries in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step in addressing climate change.
  • EU climate chief Wopke Hoekstra lauds the historic deal targeting a 43% reduction in emissions by 2030 as a significant breakthrough after decades of discussions.

Digitalization has high environmental costs, says UNCTAD meet

DUBAI, UAE - With global attention on the COP28 climate summit, UNCTAD’s eWeek 2023 highlighted digitalization’s potential to accelerate climate...
  • Data-driven technologies like the Internet of Things, robotics and artificial intelligence can enhance climate change monitoring.
  • The digital transformation has left its mark on the planet through raw material depletion, energy and water use, pollution and waste.