G20 leaders to grapple with climate, taxes, Trump comeback
G20 leaders gather in Brazil on Monday to discuss fighting poverty, boosting climate financing and other multilateral initiatives that could...Economy
World leaders meet for climate talks, but big names missing
Dozens of world leaders convene in Azerbaijan on Tuesday for COP29 but many big names are skipping the UN climate...Economy
Saudi, Turkey, Egypt among 16 nations viewing climate change as top concern
Riyadh, Saudi Arabia: Around 80% of consumers surveyed across 16 countries now view climate change as the world’s No. 1...Around 56% of Saudi consumers stated that they were willing to pay more to ride in a carbon-neutral taxi as against 40% of consumers in other countries
Similarly, they were also willing to pay more for hotels, train tickets, broadband internet, groceries, computers, clothing, and smartphones
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.
Oil industry faces moment of truth as clean energy transitions advance: IEA
Paris, France--Oil and gas producers face pivotal choices about their role in the global energy system amid a worsening climate...The IEA report examined the implications and opportunities for the industry that would arise from stronger international efforts to reach energy and climate targets.
The report estimates that the present valuation of private oil and gas companies could fall by 25% from $6 trillion today if all national energy and climate goals are reached
Indonesia’s exports to UAE expected to rise by $4bn with CEPA trade pact
Jakarta, Indonesia - The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase Indonesia’s exports to the UAE by around...UAE was Indonesia’s second-largest trading partner in the Middle East in 2022
Indonesia recorded $61.8 million in direct investment from the UAE in Jan-September 2023
Movement against ‘Pro-Israeli’ fast-food chains gains momentum
Tehran, Iran – Egypt, Jordan, and Turkey witnessed a significant surge in a boycott targeting multinationals that have either pro-Israeli...Amidst rising global condemnation of Israel's actions in Gaza, the boycott movement gains significant momentum
Countries such as Kuwait and Morocco join the movement, adding to the international pressure on Israel
Dubai to host corporate governance experts at ICGN-Hawkamah Conference
Dubai, UAE--Dubai will host a gathering of international corporate governance experts at the upcoming ICGN-Hawkamah Conference, themed 'Capital, Companies, and...Experts will hold discussions on topics such as national visions towards sustainable economies in the MENA region, the role of corporate boards in the governance of sustainability
Against the backdrop of COP28, the event aims to explore how corporations can align their strategies with climate goals while fulfilling their corporate governance responsibility
Saudi Arabia raises US$11bn syndicated loan to fund deficit
RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget...The 10-year loan was funded by a group of banks including Industrial and Commercial Bank of China
Citigroup Inc, First Abu Dhabi (FAB), and HSBC Holdings Plc,will help in funs according to sources familiar with the matter.
Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt
RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of...At least 518 Egyptian companies are operating in the Saudi market, the minister said.
He said that over 285 Egyptian brands are spread out across the Kingdom.
Qatar posts trade balance surplus of US$16.7bn in Q3 2023
DOHA, QATAR - The merchandise trade balance of Qatar (difference between total exports and imports) recorded a surplus of US$6.7...In Q3 2023, Asia was the principal destination of Qatar’s exports and imports, representing 74.9 percent and 36.3 percent respectively.
In Q3 2023, the European Union, accounting for 10.4 percent and 27.5 percent of Qatar's exports and imports respectively.
Saudi oil and non-oil exports fall by above 17 percent in Sept
Dubai, UAE -- Saudi Arabia’s oil exports fell by 17.1 percent (SAR 17.2 billion or $4.58 billion) in September, mainly...The share of oil exports in total exports increased from 80 percent in September 2022 to 80.1 percent in September 2023.
Imports also decreased compared to August 2023 by SAR 9.6 billion or 13.7 percent, according to data by GASTAT.
