Car-centric Saudi to open first part of Riyadh Metro
Riyadh, Saudi Arabia - Saudi Arabia announced Wednesday it is ready to open the first part of the Riyadh Metro,...
G20 leaders to grapple with climate, taxes, Trump comeback
G20 leaders gather in Brazil on Monday to discuss fighting poverty, boosting climate financing and other multilateral initiatives that could...
COP28 UAE
Net-zero targets must include fossil fuel ‘phase-out’: monitor
According to a new report from Net Zero Tracker, at least 150 countries have committed to a net-zero emissions target...
- The report looked at nations, cities and large companies committed to any kind of net-zero target
- African and European companies were relatively well represented in the phase-out plans
Economy
Innovations spur Qatar’s petrochemical sector growth
"A fair, safe, and sustainable transition to low-carbon energy is crucial for protecting the planet and fostering economic growth. Achieving...
- Qatar's petrochemical industry sees continuous growth since QAPCO's establishment.
- QatarEnergy and Chevron Phillips join hands to build two massive ethane cracking units.
COP28 UAE
UAE president and UN chief discuss ‘collective action’ to address climate challenges
Dubai, UAE-- UAE President Sheikh Mohamed bin Zayed and UN Secretary General António Guterres discussed the importance of the conference...
- The UN chief applauded the initiative of UAE president in establishing a US$30 billion fund for global climate solutions
- They also talked on cooperation between the UAE and UN agencies, particularly in supporting world peace and climate action
Economy
Is 2030 the finish line for the Gulf Railway Project?
The Gulf Railway aiming for completion by 2030, will link GCC nations with a comprehensive rail network, marking a new...
- The Gulf Railway aiming for completion by 2030, is set to link GCC nations with a comprehensive rail network, marking a new era in regional transportation and economic integration.
- Saudi Arabia's railway expansion, an integral part of the Gulf Railway Project, boosts GCC connectivity and trade, with parallel progress in the UAE, Qatar, Oman, and Kuwait.
COP28 UAE
MENA region can create 10m jobs by 2050 via climate action, says ILO
DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...
- The trend towards renewable energy has helped to create 13.7 million jobs in the sector worldwide.
- The ILO is participating in COP28 to ensure that climate change efforts include to monitor the impact on jobs.
Economy
Morocco gardening school cultivates hope for marginalised youth
Launched by the Islamic Culture Foundation in 2018, Bouregreg Med-O-Med school provides free training to dropouts and other marginalized youths...
- Bouregreg Med-O-Med school in Morocco aims to raise awareness about climate change while promoting the social inclusion of marginalized young people
- The school has a nursery of local plants that are better adapted to water stress, which is crucial for Morocco as the country suffers its worst drought in almost 40 years
COP28 UAE
COP28 unveils oil and gas ‘Decarbonisation Charter’ to speed up climate action
Dubai, UAE--The COP28 Presidency Saudi Arabia have launched a landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry charter...
- Around 50 companies, representing more than 40 percent of global oil production, so far have signed on to the OGDC
- COP28 President Dr. Sultan Al Jaber said several oil companies have adopted net-zero 2050 targets for the first time
Economy
COP28 ignites key climate change talks in Arab world
"The event focuses on transitioning the energy sector, demonstrating how strategic investments can foster prosperity without solely relying on fossil...
- Colombia's President Gustavo Petro emphasizes the significance of COP28 for addressing climate issues.
- Petro stresses on the transition from traditional energy sources to sustainable alternatives to save the Earth.
Geostrategy
UAE voted to Category-B membership in International Maritime Organization
LONDON, UK - The UAE has been re-elected to the Council of the International Maritime Organization (IMO) in the Category...
- The UAE received the highest number of votes, following comprehensive efforts and an intensive election campaign leading up to the elections.
- The country plays an active role in strengthening the national maritime sector and contributing to the growth of the global maritime industry.
Business
IMF to revise regional outlook over Israel-Hamas conflict
Dubai, UAE--The IMF announced Friday that it will revise its economic outlook for the Middle East and North Africa region...
- The IMF staff wrote in a blog post that Israel-Hamas conflict will have wide-ranging consequences for "both people and economies" in the region
- The IMF officials said countries like Lebanon that are heavily dependent on tourism saw hotel occupancy rates drop by 45 percentage points in October compared to a year ago
Car-centric Saudi to open first part of Riyadh Metro
Riyadh, Saudi Arabia - Saudi Arabia announced Wednesday it is ready to open the first part of the Riyadh Metro,...
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Ten years from home World Cup, Saudi sizes up ‘huge challenge’
As the only  bidder, Saudi Arabia was anointed host of the 2034 World Cup last October by FIFA. Infrastructure is...
Regulated dollar transactions on the rise in Iraq, says central bank
With dollars dominating the country's economy, Baghdad has imposed a series of restrictions on the use of American greenbacks domestically....
Economy
Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
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Economy
UAE’s global investments grow amid economic crisis
"The UAE has strengthened its position in the global economy. The total value of UAE assets abroad, whether government or...
- UAE's investments abroad remain strong, hitting $2.5 trillion in early 2024 despite global economic challenges.
- Investments include deals with the US, Egypt, the UK, India, and upcoming focus on Europe for currency stability.
Economy
Saudi Arabia and Bahrain sign road safety, maintenance agreement
Manama, Bahrain--Saudi Arabia and Bahrain have signed a memorandum of understanding to boost road safety and maintenance in the two...
- The agreement looks to boost expertise exchange and cooperation between Bahrain and Saudi Arabia, focusing on joint efforts in infrastructure development and road safety
- The Bahraini minister noted the strong relations between the two countries, emphasising the keenness to enhancing ties, particularly in infrastructure development
Economy
UAE’s overseas investments surpass $2.5trn mark
Dubai, UAE - The UAE's total assets abroad, encompassing both governmental and private investments, have reached $2.5 trillion as of...
- United States remained the prime destination, attracting substantial investments in bonds and direct ventures
- Egypt closely follows with significant investments, along with the United Kingdom, India, and Morocco