Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business
Geostrategy
Norway contributes US$23.7m of flexible funding to FAO
ROME, ITALY - The Food and Agriculture Organization of the United Nations (FAO) has welcomed a US$23.7 million contribution from...
- The funds will be channeled through FAO’s Special Fund for Emergency and Rehabilitation Activities - a funding mechanism with streamlined procedures.
- With this, FAO aims to reach around 600,000 food insecure people with farming inputs, livestock supplies, fishing inputs and cash assistance where needed.
Business
Dubai International Boat Show highlights local marine industry’s global appeal
DUBAI, UAE - Dubai International Boat Show 2023 attracted over 30,000 visitors and industry players from across the globe for...
- Owners and clients are increasingly interested in innovative technologies that can create a greener yacht.
- With brands from 60 countries featured at the show, local manufacturers reported increased business.
Geostrategy
Japan plans export control measures for chip equipment
TOKYO, JAPAN - Japan on Friday unveiled planned export controls on 23 items used to make semiconductors, following US pressure for...
- The move to curb export of chip equipment comes as Japan confirmed its top diplomat will visit China this weekend.
- As the second- and third-largest economies of the world, China and Japan are key trading partners.
Science
UAE urges investment, action for water sustainability at UN meet
DUBAI, UAE – UAE Minister of Climate Change and Environment Mariam bint Mohammed Almheiri emphasized the importance of collaboration, data...
- The UAE is on track to reduce total water consumption of its food sector by over 15 percent despite doubling production by 2030.
- The UAE’s national plan - the Water Security Strategy 2036 - ensures that programs are implemented on the supply and demand side.
Market Report
Saudi Arabia’s TASI ends the week higher while UAE markets fall
Several factors contributed to the fall in UAE markets, including a decline in oil prices, worries about multinational banks' health.
- The primary index of the Abu Dhabi Securities Exchange fell by 0.5 percent, while the Dubai market's main index dropped by 0.9 percent.
- In Dubai, losses in the industrial and financial services sectors led to a 0.5 percent drop in the main index on Monday.
Geostrategy
UAE highlights food, energy insecurity at G20 Finance Track meeting
CHENNAI, INDIA - The UAE spoke on food and energy insecurity and their implications in the second Framework Working Group...
- The UAE delegation highlighted emerging uncertainties in the finance sector.
- The delegation discussed effective ways to promote global financial stability.
Economy
Eco-friendly goods buck global downward trade slide: UNCTAD
Trade in such goods grew by around four percent in the second half of 2022, with their combined value hitting...
- Global trade surged to a record $32 trillion in 2022 before reversing course in the second half of the year amid deteriorating economic conditions and swelling uncertainties.
- UNCTAD said it expected green industries to boom further as countries scale up their efforts to cut emissions and battle global warming.
Science
‘Rich nations must achieve net zero carbon by 2040’
UN Secretary General Antonio Guterres called on wealthy countries to move up their goals of achieving carbon neutrality as close...
- Most rich countries have set their goal at 2050 but some are more ambitious, like Finland (2035), or Germany and Sweden (2045).
- Leaders in emerging economies must commit to reaching net zero as close as possible to 2050, he said without naming any specific nation.
Geostrategy
Ukraine grain deal extended, says Turkey’s President
Turkey announced the extension of a deal that has allowed exports of Ukrainian grain to resume following Russia's invasion, but...
- Turkey and the United Nations did not specify the duration of the grain deal.
- A deal brokered by Turkey and the United Nations in July 2022 - and signed by Kyiv and Moscow - had allowed for the safe passage og grain supplies.
Geostrategy
Reform of multilateral financial institutions must for climate action, says Dr Al Jaber
PARIS, FRANCE - COP28 President-Designate Dr. Sultan Al Jaber met French President Emmanuel Macron and outlined his vision on the...
- The UAE minister stressed on the need to deploy all necessary resources to transform the global energy systems.
- Dr. Al Jaber emphasized the need for ambitious reforms across international financial institutions and multilateral development banks.
Company News
Latest News
FAO says global food prices fell 13.7 percent in 2023
World food prices fell in 2023, with considerable declines for grains and oils as supply concerns eased, the UN's Food...
Economy
Foreign governments paid Trump firms millions as president, claims US report
NEW YORK, US - Former US president Donald Trump's businesses received at least $7.8 million from foreign governments including China during...
Geostrategy
UAE participates in UN Peacekeeping Ministerial Meeting in Ghana
ACCRA, GHANA - A United Arab Emirates delegation led by Dr. Rashed Ali Al Kaabi, Assistant Minister of Foreign Affairs...
Geostrategy
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Geostrategy
UNSC committee adopts guiding principles on use of UAS for terrorist purposes
NEW YORK, US – The Counter-Terrorism Committee (CTC) of the UN Security Council adopted the "Abu Dhabi Guiding Principles" and...
- The document is the first of its kind at the United Nations to address the increasing challenges posed by UAS in the context of counter-terrorism.
- As the current chair of the Counter-Terrorism Committee, the UAE facilitated this crucial initiative, reflecting its commitment to global peace and security.
YEARBOOK 2023
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
- UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
- Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
Geostrategy
5 WEF reports shaping your 2024 agenda
From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
- Buffeted by a global energy crisis, inflationary pressures and geopolitical instability, the move to clean energy has faced a challenging time.
- This year's top 10 emerging technologies will likely become increasingly familiar in the years ahead as they help tackle some of our biggest challenges.