Content creation key to awareness, culture, human development: Dubai ruler
Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of...
Business
Saudi Arabia plans to sustain borrowing spree to fund major projects beyond oil: report
Saudi Arabia secured a $2.5 billion revolving credit facility from Abu Dhabi Islamic Bank, Credit Agricole SA, and Dubai Islamic...
Economy
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.
Science
‘UAE to reveal implementation map of Net Zero 2050 at COP27’
Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of...
- A UAE minister said the COP27 focuses on financing and ensuring equitable participation of developing countries in climate action efforts.
- She said the UAE will invite the world to participate in the efforts to spread and use renewable energy.
Geostrategy
UAE, Jordan ministers discuss global, regional issues
Jordan's Deputy Prime Minister and Minister of Foreign Affairs and Expatriates Ayman Safadi met with UAE Minister of Foreign Affairs...
- The meeting between the two ministers was held on the sidelines of the Sir Bani Yas Forum in Abu Dhabi.
- The ministers highlighted the progress on joint projects and cooperation programs adopted by UAE and Jordan.
Economy
COP27 summit in Egypt reckons with gravest threat to humanity
The already daunting task of decarbonizing the global economy in a few years has been made even harder by a...
- Current trends would see carbon pollution increase 10 percent by the end of the decade and Earth's surface heat up 2.8C, according to findings unveiled last week
- The already daunting task of decarbonizing the global economy in a few years has been made even harder by a global energy crunch and rapid inflation
Economy
Gulf nations secure future with Asian investments
GCC, which has been investing heavily in Asia with an eye on protecting its petrochemicals and oil exports, is engaging...
- GCC, which has been investing heavily in Asia with an eye on protecting its petrochemicals and oil exports, is engaging in growth industries like fintech and logistics
- GCC's exports to Asia are mainly constituted from commodities with predominantly oil products and their derivatives, as well as natural gas, in the case of Qatar
Content creation key to awareness, culture, human development: Dubai ruler
Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of...
Business
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$10 trn of ‘hidden costs’ on food and agriculture system per year, says UN
Paris, France - The food and agriculture system adds at least $10 trillion in "hidden costs" to the global economy every...
Economy
Expat remittances in Saudi Arabia fall to $2.6bn in September
RIYADH, SAUDI ARABIA - Remittances by expatriates in Saudi Arabia dropped 13 percent year-on-year (YoY) to US$2.6 billion (SAR 9.9...
Economy
Saudi Arabia launches second phase of Visiting Investor Visa
RIYADH, SAUDI ARABIA – The Kingdom’s ministry of investment and ministry of foreign affairs launched the second phase of issuing...
Business
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Economy
Russia to continue voluntary oil export cuts by 300,000 barrels a day until yearend
Moscow, Russia - Russia will continue additional voluntary oil export cuts by 300,000 barrels a day until the end of...
- Additional cuts are geared to enhance OPEC+ measures to maintain stability and balance on oil markets
- Russia began to voluntarily cut oil production by 500,000 barrels a day from February’s average back in March
Economy
Global trade at a crossroads as Gaza conflict intensifies
With Suez Canal's pivotal role in global commerce, any disruption may send shockwaves through markets worldwide, challenging the resilience of...
- With Suez Canal's pivotal role in global commerce, any disruption may send shockwaves through markets worldwide, challenging the resilience of international supply chains.
- The region's conflict may intensify the factors impeding trade growth, alongside other issues such as rising rates, crisis in China's realty market, and Russian-Ukrainian war.
Business
Qatar’s business conditions continue to improve in October
DOHA, QATAR – Qatar's non-energy private sector continued to experience improving business conditions at the start of the final quarter of...
- Output, new orders and employment all expanded in October, and the 12-month outlook remained upbeat.
- Profitability improved as firms raised their prices for goods and services at the fastest rate since February.