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Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Poorer countries need money before raising climate targets, says COP29 head

Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available...

Oil industry is an integral part of climate solutions, says COP28 head

President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told...
  • The president of the upcoming COP28 urged oil industry leaders to curb emissions associated with energy production.
  • He also encouraged them to embrace "low carbon solutions" like carbon capture and storage,

DEWA commissions 200MW second unit in Al Maktoum Solar Park

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in...
  • It is set to provide clean energy for approximately 320,000 residences and reduce carbon emissions by 1.6 million tons annually.
  • This phase uses the Independent Power Producer (IPP) model with investments of up to AED 15.78 billion ($4.30bn).

ADIPEC 2023: Energy world to ponder energy transition

Abu Dhabi, UAE - Abu Dhabi International Progressive Energy Congress (ADIPEC) 2023 begins today here to deliberate decarbonization of the...
  • ADIPEC 2023 is expected to attract more than 160,000+ attendees from 164 countries for its biggest edition ever
  • The Congress will feature a rich exhibition programme that covers energy-related technology, innovation, collaboration, and digitalization

Oil-reliant Saudi revises budget, projects deficit

The Gulf kingdom, the world's biggest crude exporter, had planned for a surplus of 16 billion Saudi riyals ($4.27 billion)...
  • Oil revenue this year has fallen by 17 percent as prices have dipped and Riyadh has cut production in a bid to boost them
  • Daily output is currently nine million barrels per day, down two million barrels from this time last year

Expo 2023 building in Guinness World Records for largest green roof

Doha, Qatar -- The main building of Expo 2023 in Doha has made it to the Guinness World Records for...
  • The roof of the building, implemented by Qatar's Public Works Authority (Ashghal), has an area of 4,031 square meters.
  • The new global achievement is the sixth world record achieved by Qatar's Public Works Authority in the previous years.

UN conference adopts plan to reduce harmful chemicals

PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations...
  • The plan sets out 28 concrete targets and guidelines for key sectors across the entire lifecycle of chemicals, from production to waste.
  • It calls for a transition to more sustainable chemical alternatives, responsible management of chemicals in industry, agriculture and healthcare.

ADB capital reforms unlock $100bn to support Asia and the Pacific region

MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
  • The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
  • The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.

US to auction three new oil and gas leases in the Gulf of Mexico

WASHINGTON, US - President Joe Biden's administration on Friday announced it would auction three new oil and gas leases in the...
  • The move triggered a furious reaction from environmental groups who said the move would accelerate climate change.
  • The action was denounced by advocates of the fossil fuel industry as it reduced the number of lease sales planned by previous US administration.

Europe should move faster on energy transition, say IEA, ECB

PARIS, FRANCE - Europe must invest more quickly and massively in its energy transition if it wants to remain a global...
  • Europe must invest more quickly in its energy transition if it wants to remain a global industrial power, top policymakers said.
  • Private sector investment faces barriers including policy uncertainty, bureaucratic red tape and higher energy costs, they said.

Politicians fail to understand scientific facts of climate, says expert

PARIS, FRANCE - Wavering ambition by governments and a growing belief that science is politically subjective are great causes for concern...
  • Several extreme weather events have occurred in 2023, which the European Union's climate monitor says is likely to be the hottest in human history.
  • These underscores the urgency of slashing planet-heating greenhouse gas emissions to avert the catastrophic impacts of greater global warming.

Unit 4 of Barakah Nuclear Energy Plant connected to UAE grid

Abu Dhabi, UAE – The Emirates Nuclear Energy Corporation (ENEC) today announced that its operations and maintenance subsidiary, Nawah Energy...

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Clean energy largest driver of Chinese GDP growth in 2023: report

China is the world's biggest emitter of greenhouse gases driving climate change, but it is also the top producer of...

France flooded with applications for electric car leasing scheme

Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...

Shell halts Red Sea shipments over attack fears, say report

WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...

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EU worried Red Sea attacks could spark inflation

European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
  • Gentiloni said that "what is happening in the Red Sea... is not for the moment apparently creating consequences on energy prices and inflation".
  • Tensions in the Red Sea have soared after the United States and Britain carried out strikes on Houthi rebels in Yemen.

Saudi Arabia to highlight role in dealing with global challenges at WEF meet

RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
  • Saudi Arabia’s participation in the annual meet underscores its pivotal role in the transition toward carbon neutrality.
  • The Kingdom’s engagement provides an opportunity for communication with key players in the private sector globally.

Biggest fuel refinery plant of Africa begins production

Lagos, Nigeria - Africa's biggest diesel and aviation fuel refinery built by the continent's richest man has started production, the company...
  • The 650,000 barrel-per-day Dangote refinery could be a game changer when fully operational by helping end Nigeria's reliance on fuel imports.
  • The facility sits on 2,635 hectares (6,500 acres) of land at the Lekki Free Zone on the edge of Lagos city and cost an estimated $19 billion.