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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.
  • World Bank to expand climate funding in MENA by $10 billion

    Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to...

    The funding supports both reducing net emissions and resilience projects, said Meskerem Brhane, the bank's Regional Director for Sustainable Development, MENA.

    She added that by embracing green growth strategies, the region's GDP could potentially grow to over $13 trillion by 2050.

  • Clean energy sees marked investment rise since 2020

    With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is...

    With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is making strides towards a greener future, says an expert.

    However, challenges remain in meeting the Paris Agreement goals and ensuring all nations can participate in the transition, adds Ferdinand Varga of Boston Consulting Group.

  • China, Saudi Arabia sign 60 pacts worth $25bn at Beijing conference

    Beijing, China - China and Saudi Arabia signed over 60 MoUs and agreements worth over $25 billion at the investment...

    Over 60 MoUs and agreements worth over $25 billion were signed at the China-Saudi Investment Conference

    Agreements were signed in key sectors including energy, agriculture, tourism, mining, financial services, etc

  • World unites at COP28 to shift away from fossil fuels

    Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...

    Nearly 200 countries in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step in addressing climate change.

    EU climate chief Wopke Hoekstra lauds the historic deal targeting a 43% reduction in emissions by 2030 as a significant breakthrough after decades of discussions.

  • CBUAE joins the Gulf payments system AFAQ

    Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) joined AFAQ Payments System, which is operated by the Gulf...

    Along with the CBUAE, Barclays Bank joined the AFAQ system, becoming the first financial institution operating in the UAE to achieve this step and begin using the system’s services

    To date, the Central Bank of Bahrain, the Saudi Central Bank, and the Central Bank of Kuwait have joined "AFAQ", in addition to a number of commercial banks from these countries

  • Digitalization has high environmental costs, says UNCTAD meet

    DUBAI, UAE - With global attention on the COP28 climate summit, UNCTAD’s eWeek 2023 highlighted digitalization’s potential to accelerate climate...

    Data-driven technologies like the Internet of Things, robotics and artificial intelligence can enhance climate change monitoring.

    The digital transformation has left its mark on the planet through raw material depletion, energy and water use, pollution and waste.

  • Global trade likely to decline in 2023 due to changing trade patterns, geopolitics

    DUBAI, UAE - The outlook for 2024 remains “highly uncertain and generally pessimistic,” UNCTAD says in the Global Trade Update,...

    Other elements affecting trade include lower demand in developed countries, less trade in East Asia and an uptick in trade-restrictive measures.

    The elements also include an uptick in trade-restrictive measures and lengthening supply chains, particularly between China and the US.

  • 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