COP29 opens with Trump climate withdrawal looming
he COP29 climate talks open Monday in Azerbaijan, under the long shadow cast by Donald Trump's re-election. Trump has pledged...
Economy
Expected impact of the U.S. election on business
35 percent of CEOs worldwide identify #inflation as the most critical #economic issue facing their countries, followed by boosting #consumer...
Economy
Geostrategy
COP27: Choose climate solidarity or collective suicide, UN chief tells world leaders
Humanity is in "the fight of our lives" as climate change intensifies droughts, floods and heatwaves, UN chief Antonio Guterres...
- The UN chief called for a "historic" deal between rich countries and emerging economies that would aim to reduce emissions.
- The UN chief said the target should be to provide renewable and affordable energy for all.
Market Report
Stocks rise, oil falls tracking China lockdown policy
Stock markets mostly rose, extending last week's strong gains, while oil prices fell after China reaffirmed its commitment to its...
- The dollar was down against key rivals ahead of this week's US midterm elections.
- Global markets and oil prices were buoyant last week on hopes Beijing may begin to roll back policies aimed at stamping out the disease within its borders.
Economy
Oman state budget surplus $2.92 billion by September end: Ministry
Muscat, Oman---Oman’s budget achieved a surplus of RO 1.123 billion ($2.92 billion) at the end of September 2022, the country's...
- The country reported deficit of RO 1.030 billion for the same period last year, the finance ministry said.
- Oman's public revenues were up by more than 43 percent due to an increase in oil prices and production.
Economy
Jordan’s real estate trading up 23% in January-October of 2022
AMMAN, JORDAN - Jordan's real estate trade picked up by 23 percent to US$6.8 billion (JD4.875 billion) in 2022's January-October...
- State's revenue from the real estate market stood at US$344 million by the end of October in Jordan.
- Trade volume in the Jordanian real estate market went up in October 2022 by 21 percent compared to October 2021.
Economy
WTO urges countries to lift green trade barriers
The World Trade Organization urged countries to abolish trade barriers in environmental goods and services to help fight climate change....
- Trade is a force for good for climate and part of the solution for achieving a low-carbon, resilient and just transition, the WTO said.
- Reducing tariffs and non-tariff measures on energy-related environmental goods could increase exports of these products by five percent by 2030, the WTO said.
Economy
Vietnam struggles to shake off its coal addiction
During the COP26 climate summit last year, the government boldly promised to end the construction of new coal plants and...
- Vietnam pledged to reach net-zero carbon emissions by 2050, but with coal and gas still a major part of its energy mix one year later, that commitment is on shaky ground
- G7 countries could announce billions of dollars in funding to help steer Vietnam away from fossil fuels and the country could attract billions more in clean energy investment
Economy
UAE removes most Covid restrictions and eases mask rules
Dubai, UAE—The United Arab Emirates has dropped almost all Covid restrictions as the rate of infection considerably drops in the...
- Wearing masks in the UAE will now be optional in all open and closed facilities, including places of worship and mosques
- Organizers of sports activities also have the option to require PCR tests or vaccination certificates as requisite to participate or attend their events
Economy
China exports fall in October, first decline since 2020
The slowdown in trade comes as global demand for Chinese products weakens with energy prices soaring and the United States...
- Exports fell 0.3 percent year-on-year in October, according to the General Administration of Customs
- Year-on-year imports were down 0.7 percent in October, negative for the first time since March this year
Economy
World population at 8 billion humans — and still growing
Given the increase in life expectancy as well as the number of people of childbearing age, the UN projects the...
- After a peak in the early 1960s, the world's population growth rate has decelerated dramatically
- Annual growth has fallen from a high of 2.1 percent between 1962 and 1965 to below 1 percent in 2020
Science
Global warming rising at alarming rate, says UN
Greenhouse gases accounting for over 95 percent of warming are at record levels, with methane showing the largest one-year jump...
- Earth has warmed more than 1.1 degrees Celsius since the late 19th century, with roughly half of that increase occurring in the past 30 years.
- Driven by melting ice sheets and glaciers, the pace of sea level rise doubled in the past 30 years, threatening millions in low-lying coastal areas.
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COP29 opens with Trump climate withdrawal looming
he COP29 climate talks open Monday in Azerbaijan, under the long shadow cast by Donald Trump's re-election. Trump has pledged...
Economy
Company News
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COP28 wide open to private sector, says climate talks chief
ABU DHABI, UAE - Upcoming UN climate talks in Dubai will be open to the private sector on an unprecedented scale,...
Geostrategy
Britain grants 27 new oil and gas exploration licenses in North Sea
London, United Kingdom - Britain on Monday awarded 27 new licenses for oil and gas exploration in the North Sea as...
Economy
China’s share of global manufacturing jobs to rise by 2050: study
The Asian giant's share of global manufacturing jobs will rise to 43 percent of the total by that year --...
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Economy
Saudi Fund for Development signs $100m loan pact to support the water sector in Argentina
Riyadh, Saudi Arabia - Saudi Fund for Development (SFD) on Sunday signed a $100 million loan agreement to support the...
- The agreement will support the growing demand for potable water in Argentina’s provinces of Santa Fe and Córdoba
- Phase 1 of the project will develop from Coronda, in the province of Santa Fe, to San Francisco, in the province of Córdoba
Economy
Futuristic strategies elevate Dubai
Dubai's transformation from a humble fishing village to a global tourist powerhouse is nothing short of remarkable. Just decades ago,...
- Dubai's evolution from a simple fishing village to a premier global tourist hub is credited to its innate advantages, deliberate investments, and cohesive destination development
- The emirate exemplifies visionary leadership and adaptability, attracting millions yearly, and has shown resilience during crises like 2008 financial downturn and Covid pandemic
Economy
Bahrain’s SCE signs agreement with Foulath Holding Company
Manama, Bahrain--The Supreme Council for the Environment (SCE) signed a cooperation agreement with Foulath Holding Company to boost sustainable development...
- The signing of the agreement would pave way for planting and preserving mangrove trees in line with the sustainable development goals (SDGs)
- The SCE said the agreement falls within the framework of protecting the environment, and preserving and developing its living resources