‘UAE outpaces major nations in human development’
“These efforts ensure sustainable development across all sectors, promising a bright future for generations to come,” he adds, referring to...Economy
COP hosts UAE, Azerbaijan, Brazil pledge stronger climate action
Paris, France--Past and future hosts of the UN climate negotiations the United Arab Emirates, Azerbaijan and Brazil announced Wednesday they would...Economy
Merck to buy Prometheus
The US$11bn deal will drive drug company's growth.At the closing of the New York Stock Exchange on Friday, Prometheus's share price stood at $114.01
The medical company is in the middle of developing a treatment for autoimmune diseases, including ulcerative colitis and Crohn's disease
Iraq invites Turkey, Iran to discuss water share issue
BAGHDAD, IRAQ - Iraq's Minister of Water Resources Aoun Diab said on Sunday that the releases of the Tigris River...Iraq's Minister of Water Resources said that an invitation was extended to the Iranian Minister of Energy to attend the third Baghdad Water Conference.
Iraq invited the Turkish delegation for the purpose of continuing discussions on activating the memorandum of understanding signed between the two countries.
Europe’s largest nuclear reactor begins operation in Finland
The most powerful nuclear reactor in Europe, with a capacity of generating 1,600 megawatts, Olkiluoto 3 reached full power in late...Olkiluoto 3, now producing around 14 percent of the country's electricity, is expected to remain operational for "at least the next 60 years".
Built by Areva-Siemens consortium, the reactor was first started up in December 2021 and connected to the Finnish power grid in March 2022.
Qatar Tourism head says country expects over 5m visitors in 2023
DOHA, QATAR - Qatar expects more than five million people to visit the Gulf state in 2023 despite a post-World Cup...The head of Qatar Airways and Qatar Tourism admitted that hotels had fallen quiet after the World Cup final on December 19.
He insisted that every World Cup host has the same lull after the tournament and that hotels were still 65-70 percent full.
Iraqi government plans to reduce economy’s dependence on oil
BAGHDAD, IRAQ - Iraqi Prime Minister Muhammed S. Al-Sudani chaired a meeting focused on discussing the provisions of the federal...The meeting discussed the provisions of the federal budget bill submitted to the Parliament.
The Iraqi PM highlighted the plans for enhancing development and advancing the economy.
Saudi Arabia transfers more Aramco shares to wealth fund in bid to ‘diversify’ economy
Prince Mohammed said the latest transfer will "solidify PIF's strong financial position". Authorities did not give a value for the...The move, part of a campaign to open up the oil-rich kingdom's economy, follows a transfer of four percent of Aramco shares, estimated at the time to be worth $80 billion
The Saudi crown prince billed the move as part of a push "to boost and diversify the national economy and expand investment opportunities", according to the report
UAE has invested $5bn dollars in Brazil: UAE minister
Abu Dhabi, UAE - The UAE is among the largest international investors in Brazil, with an estimated US$5 billion in...The two countries, have maintained a fruitful cooperation across many sectors such as industry, transportation, shipping, storage, infrastructure, etc
The UAE is Brazil's top trading partner in the Arab region, while Brazil is one of the Emirates' most important and recognized partners in Latin America.
G7 climate ministers pledge to end plastic pollution by 2040
A statement put out by G7 said the phase-out will be achieved by "promoting sustainable consumption and production of plastics,...The G7 statement said the group remains committed to end plastic pollution, with the resolve to lower additional pollution to zero by 2040
According to the OECD group of developed countries, during the last 20 years plastic waste has doubled globally and only nine percent is recycled
Fire in Dubai apartment building kills 16, injures 9
Dubai, United Arab Emirates--A fire in a residential building in Dubai killed 16 people and injured nine others in the wealthy...The fire, according to the civil defence force, was caused by a "a lack of compliance with building safety and security requirements"
The authorities, in 2017, adopted stricter building regulations to minimise the risk of fire, attributed mainly to flammable materials
US banks may become more cautious in granting loans: Yellen
Still predicting "moderate GDP growth, US treasury secretary has affirmed that the country's banks may be more cautious in granting...Yellen told CNN that banks will be "somewhat more cautious" in their operations, including in issuing loans to households and businesses
But at press conference on Tuesday, Yellen indicated that she had "not really seen evidence at this stage suggesting a contraction in credit."
