China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...
Business
Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...
Business
Science
UN nature deal calls to protect 30% of planet by 2030
MONTREAL, CANADA - A UN nature deal proposed Sunday calls to protect at least 30 percent of the planet by 2030...
- It called on wealthy countries to increase financial aid to the developing world to $20 billion annually by 2025.
- Developing countries, spearheaded by Brazil, were seeking the creation of a new fund to signal the global north's commitment to the cause.
Science
Dubai Supreme Council of Energy reviews efforts to achieve net-zero carbon emissions by 2050
DUBAI, UAE - Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 73rd...
- The meeting discussed a proposal by ENOC to supply petroleum products to Al Maktoum International Airport through the Falcon Station in Jebel Ali.
- It also discussed the national system for trading carbon credits in cooperation with the Ministry of Climate Change and the Environment.
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UAE 2031 vision key to its global ambitions
The vision is based on four pillars that cover all sectors including the society, economy, diplomacy and ecosystem, the government...
- We the UAE 2031’ vision is a national plan through which the UAE aims to pursue its development path for the next 10 years.
- It seeks to "enhance the position of the UAE as a global partner and an attractive and influential economic hub", the government says.
Economy
‘Rental Disputes Center provides 9 years of stability in real estate sector’
DUBAI, UAE -Â The Rental Disputes Center (RDC), the judicial arm of Dubai Land Department (DLD), was launched to achieve...
- RDC resolved cases by concluding reconciliation agreements amounting to 10,179 cases that were resolved amicably.
- The average duration of execution of rental judgments and decisions for 2022 is four days, the RDC director says.
Economy
Fuel crisis cripples life in Syria as authorities ramp up prices
Damascus, Syria-- Syrian student Ziad al-Ezz can no longer get to university as severe fuel shortages cripple the capital Damascus, pushing...
- Authorities have announced four fuel price hikes since the start of the year as well as rationing of petrol and fuel oil supplies
- According to the UN, ninety percent of the population now live below the poverty line and 12.4 million people are food insecure
Business
Germany cuts the ribbon on first LNG terminal
Germany plans to open four more government-funded LNG terminals over the next few months as well as a private terminal...
- LNG terminals allow for the import by sea of natural gas which has been chilled and turned into a liquid to make it easier to transport.
- Until now, Germany had no LNG terminals and relied on cheap gas delivered through pipelines from Russia for 55 percent of its supply.
Science
UAE climate change ministry launches roadmap to plant 100m mangroves by 2030
ABU DHABI, UAE - UAE Ministry of Climate Change and Environment (MOCCAE) launched the roadmap for the National Carbon Sequestration...
- This is as part of its efforts to implement the UAE's strategic initiative to achieve Net Zero by 2050.
- The project is part of the strategic directions of the UAE to increase reliance on nature-based solutions in facing environmental challenges.
Geostrategy
UAE participates in First Framework Working Group meeting within G20 Finance Track
BENGALURU, INDIA - The UAE participated in the first Framework Working Group (FWG) meeting within the G20 Finance Track, which...
- Held for the first time under India’s G20 presidency in Bengaluru, the meeting sought to discuss the work plan for FWG in 2023.
- The meeting was also attended by G20 members, invited countries and representatives from international organizations.
Economy
Jordan arrests 44 after deadly fuel protests
AMMAN, JORDAN - Jordan has arrested dozens of people accused of involvement in protests against rising fuel prices in which a...
- Jordan's Public Security Directorate said that reinforcements had been sent to the violence-affected provinces.
- Jordan's King Abdullah II warned that "anyone who raises a weapon against the state will be dealt with firmly".
Economy
Jordan court sentences captagon smugglers to long prison terms
Amman, Jordan--Jordan’s judiciary on Thursday sentenced two men to long prison terms for attempting to smuggle nearly two million captagon...
- The two men, whose identities have not been disclosed, had attempted to smuggle more than 1.9 million captagon pills from Syria to Jordan in 2021
- The Jordanian army reported in February that an organized ring had attempted to smuggle drugs across the border into the country using drones
China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...
Business
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UAE pioneers smart city, clean energy initiatives
"The country's strategies, such as the Energy Strategy 2050, aims at raising the share of clean energy in the total...
Economy
Al Rajhi Bank appoints Abdullah Al Rajhi as chairman
RIYADH, SAUDI ARABIA - Al Rajhi Bank said on Monday that it has appointed Abdullah bin Sulaiman Al Rajhi as...
Business
Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction
ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...
Business
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Business
Beltone 9M net profit at $2.7m
In 9M, the firm's restructuring led to a turnaround.
- Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
- The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.
Business
EDB commits US$350m for renewable energy projects in developing countries
ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...
- The ETAF platform is a global climate finance facility established by the International Renewable Energy Agency (IRENA).
- The announcement was made during the signing of a collaborative partnership agreement between EDB and IRENA.
Economy
Monsha’at reports Q3 rise in SMEs driven by growth across non-oil sectors
RIYADH, SAUDI ARABIA - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor,...
- The total number of SMEs in the Kingdom has risen and reached 1.27 million.
- Over 43 percent of SMEs are located in the financial capital of Riyadh.