OPEC+ expected to extend oil supply cuts to avoid drop in prices
Without a new agreement, the eight countries which have been making voluntary additional production cuts of 2.2 million barrels per...Economy
Trump threatens 100% tariff on BRICS countries over currency plans
Washington, United States - President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...Economy Geostrategy
El Salvador to issue bitcoin bonds in first quarter of 2024
With bitcoin, Bukele sought to make it easier, and cheaper, for Salvadorans to receive remittances and to provide financial services...Bitcoin became a legal currency in El Salvador, alongside the US dollar, in 2021 at the behest of President Nayib Bukele
In 2021, Bukele announced a plan to build a "Bitcoin City" in the east of the country, which would be powered by thermal energy from a volcano
Public-private partnerships play key role in environmental finance, says EIF official
DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions,...The European Investment Fund seeks to address environmental and biodiversity challenges as part of its climate position.
The European fund has significantly committed to the green transition by mobilizing US$ 2.15 billion in funding.
Jordan’s mission to save its ancient olive trees
Jordan's culture ministry, Gharaibeh's organization is working to add the trees to the UNESCO Intangible World Heritage List, hoping this...Jordan has 11 million olive trees in groves that make up 20 percent of all cultivated land in the country
They produce 50,000 tons of olives and 25,000 tons of olive oil annually, contributing $169 million to the economy
Riyadh Season draws 9 million visitors to its entertainment zones
Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant...Riyadh Season, marked by the slogan "Big Time," completed the spectrum of entertainment choices with top-tier events and festivals across various zones
Boulevard City zone emerged as a site filled with entertainment options, along with Boulevard World which features a variety of international cultures
‘Investment policies must align with net-zero goals’
An alliance of public and private sectors is crucial for advancing the green agenda and effectively managing supply chain emissions,...An alliance of public and private sectors is crucial for advancing the green agenda and effectively managing supply chain emissions, WEF's Kimberley Botwright tells TRENDS.
Technological advancements, particularly AI, are key accelerators in sustainable trade, while an estimated $125 trillion is required for the net-zero transition by 2030, she adds.
‘Tech solutions help make food practices sustainable’
UAE's launch of Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, WEF's Tania...UAE's proactive role in launching Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, says WEF's Tania Strauss.
The success of UAE's Food Innovation Hub hinges on public-private sector collaboration, with ongoing work to define roles and ecosystems, adds the head of food and water at WEF.
UAE witnesses 7% rise in youth green skills in 2023
“We will work to create about 135,000 jobs in the field of green transition worldwide, and therefore ensuring that there...The World Bank's Green Initiative dedicates 45% of its annual financing to climate-related projects, with a strong emphasis on developing green skills.
The apex global bank has a focused plan to create 135,000 jobs globally in the green transition sector, says Safaa El Tayeb El-Kogali of the World Bank.
Protecting nature may avert $2.7trn global economic losses: World Bank
Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually,...Hickey said low-income countries may lose nearly 10 percent of their GDP annually by 2030 if select ecosystem services, such as forests, fisheries collapse
She said that the loss of nature is at the core of central development challenges, mainly health, inequality, climate change, food security and energy
COP28 last chance to keep 1.5C target alive: John Kerry
US climate envoy issued the warning after COP28 president Sultan Al Jaber proposed a draft deal that did not include...He said that nobody at COP28 wants to be part of the failure to live up to this responsibility
The 2015 Paris Agreement set the increasingly elusive target of limiting warming to 1.5 degrees Celsius
PIF sets up agri and ecotourism firm Dan Company
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism...The company plans to develop unique tourism projects around cities across Saudi Arabia with attractive natural and farmed landscapes.
Dan aims to involve local communities in imparting experience that enables visitors to fully interact with Saudi regional culture and traditions.
