EU clinches ‘historic’ deal on AI law after long negotiations

• The commissioner said the AI Act is much more than a rulebook , calling it a launchpad for EU startups
• The EU law will still need to be formally approved by member states and the parliament

Nasdaq faces $4m penalty for alleged Iran sanctions violations

• The violations stemmed from services provided by Nasdaq OMX Armenia to Iran and Iran's state-owned Bank Mellat
• Office of Foreign Assets Control noted that the settlement amount reflects their assessment that Nasdaq's actions were non-egregious

Dubai Municipality, DEWA ink pact to generate electricity from landfill biogas

• The signing supports Dubai’s leading sustainability practices and the realition of the UAE Net Zero Strategy 2050.
• Dubai Municipality is building align with its aspiration to build a more sustainable, pioneering and liveable city.

Saudi Arabia expects budget deficits in 2023 and 2024 as spending rises

• The deficit for 2023 is expected to amount to 82 billion Saudi riyals (roughly $21.8 billion), while in 2024 it is expected to total 79 billion Saudi riyals (roughly $21 billion)
• The projections broadly align with a pre-budget statement issued in October that indicated deficits would last through 2026.

EU agrees to forbid destruction of unsold clothes

• The new rules, first proposed by the EU last year, impose tougher rules on products to ensure they last longer and are easier to repair and recycle
• The commission, the EU's executive arm, will also have the power to extend the ban to other unsold products beyond clothing and footwear

MSF demands immediate, sustained truce in Gaza as toll rises to 15,899

• MSF UAE's Executive Director, Dr. Khalid El Sheikh, highlights severe violence in Gaza.
• Israeli military operations in Gaza criticized for impacting civilians and medical facilities.

COP28 offers a chance to rethink, reboot and refocus

Mass displacement of civilians should not take place in southern Gaza, says US

• Israel has said it will continue its war on Hamas after an ongoing temporary truce expires.
• US has strongly backed ally Israel but it has increasingly warned that too many Palestinians are being killed.

Oman’s Producer Price Index down in Q3 2023

• Prices of oil and gas products decreased by 13.7 percent, under pressure from the decrease in the prices of crude oil and natural gas products by 16 percent
• Non-oil products also recorded a decrease of 8.2 percent due to a decrease in the prices of the manufacturing industries group by 10.2 percent

Climate change is the single biggest health threat facing humanity, says WHO

• Global warming must be limited to the Paris Agreement target of 1.5 degrees Celsius "to avert catastrophic health impacts”, WHO said.
• Under current national carbon-cutting plans, the world is on track to warm up to 2.9C this century, the UN said.