Electric cars credited with lower CO2 emissions in US neighborhoods
LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
Business
Debt, trade barriers drag Asian economies in 2024, says World Bank report
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
Market Report
Stock markets on hold as investors await key US inflation data
Stock markets were mostly in wait-and-see mode as investors eyed the release this week of key US inflation data that...
- The Dow edged higher at the open, while the S&P 500 and Nasdaq drifted lower.
- With Wall Street seeing little action at the back of last week owing to the Thanksgiving break, traders had few catalysts to drive action.
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.
Geostrategy
Hamas frees more captives in Gaza as truce extension mooted
Hamas released a third group of hostages including a four-year-old American girl with more Palestinian prisoners set to be freed...
- The exchanges under a four-day ceasefire that started Friday have been the first relief for captives' families.
- United States President Joe Biden announced that the 13 released included a four-year old American girl..
Geostrategy
Every industry should be held accountable on climate, says COP28 president
Paris, France - The president of a pivotal UN climate summit defended on Saturday the large presence of industry representatives at...
- "Everyone needs to be part of this process and everyone needs to be held responsible and everyone needs to be held accountable," COP28 president Sultan Al Jaber said
- "That includes all industries and in particular heavy emitting industries like aviation, transportation, aluminum, cement, steel, as well as the oil and gas industry," he added
Economy
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
- By 2030, more than 55 percent of the population of Asia and the Pacific will live in urban areas, driving up demand for urban-related services.
- If urban areas continue along the same growth trajectory, Asian cities could contribute over half of the rise in global GHG emissions in the next 20 years.
Science
WHO says misuse of antibiotics undermining efficacy
Copenhagen, Denmark - Misuse of antibiotics is denting their efficacy and spawning resistant bacteria which could be responsible for 10 million...
- WHO warned that without immediate intervention, resistance to antimicrobials -- which includes antibiotics -- could lead to up to 10 million deaths a year by 2050
- It cited incorrect prescription as a "cause for concern," adding that in all the 14 countries, a third of the roughly 8,200 people surveyed had taken antibiotics without advice
Economy
Tax havens only half the story, says OECD
Paris, France - Tax havens are blamed for lower public revenues elsewhere as they lure away multinational firms but a study...
- Half the profits booked by multinationals benefitting from low tax rates were from countries that have high rates but offer various tax breaks to attract investments.
- "Many jurisdictions typically considered (to be) 'high tax' offer various incentives which can lead to substantially reduced tax rates," said the report further.
Geostrategy
Fishing nations pledge to protect sharks, rays
CAIRO, EGYPT - Atlantic fishing nations have agreed to better protect sharks and rays by limiting the retention of several bycatch...
- Sharks and rays are facing what conservationists have called an extinction crisis, with nearly two thirds of coral reef species at risk.
- Sharks and rays must be better protected by governments and fisheries said an advocacy coalition advancing conservation policies.
Business
Norwegian firm expects first cross-border transport of CO2 in 2025
Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands...
- Yara International signed a contract to begin transporting CO2 produced at its Netherlands plant to Norway so it can be buried under the seabed.
- Carbon capture and storage is aimed at helping halt climate change, involves capturing CO2 emissions at factory smokestacks and burying them underground in geological reservoirs.
Geostrategy
Manama Dialogue helps in addressing political, security challenges, says GCC
MANAMA, BAHRAIN – Secretary General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi has said that the hosting of...
- The conference brings together global senior officials and experts to exchange ideas and theories about common challenges.
- It will help in understanding and analyzing issues, promoting security, peace, prosperity and supporting sustainable development.
Electric cars credited with lower CO2 emissions in US neighborhoods
LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
Business
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US President orders military to set up a port in Gaza for aid, say officials
President Joe Biden will tell Congress that he has ordered the US military to set up a port in Gaza...
Geostrategy
UN agency exhorts Israel to allow port for Gaza aid transfer
Rome, Italy - The UN's food agency on Thursday said it was pressing Israel to allow it to use the Ashdod...
Geostrategy
Hamas expresses dissatisfaction over Israel’s stance on Gaza truce
A senior Hamas official confirmed that the group's delegation in talks seeking a Gaza truce left Cairo for consultations in...
Geostrategy
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Business
European Union slaps $1.9bn fine on Apple over violation of rules
Brussels, Belgium - The EU on Monday hit Apple with a more than 1.8-billion-euro fine ($1.9 billion) for violating the bloc's...
- The $1.9 billion penalty is the third-biggest antitrust fine ever imposed by the European Commission
- The iPhone maker immediately vowed to appeal the first ever antitrust fine slapped on Apple by Brussels
Geostrategy
Western countries shelve plans to censure Iran at UN nuclear meet
Western powers will not censure Iran over its lack of cooperation with the UN nuclear watchdog at its Board of...
- The issues include expanding its nuclear work, deactivating agency surveillance devices for monitoring Iran's nuclear program and barring senior inspectors.
- The so-called E3 group -- France, Germany and the United Kingdom -- initially planned to censure Iran for its lack of cooperation with the agency.
Geostrategy
UNRWA head seeks General Assembly support after backlash
The head of the UNRWA is set to defend his organization's work at the General Assembly, after crippling backlash over...
- The UNRWA's ability to carry out its mandate is "seriously threatened," Lazzarini said.
- The agency has been at the center of controversy since Israel accused about a dozen of its employees of involvement in the October 7 attack.