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PIF acquires stake in Saudi Re

The acquisition was made by way of a capital increase.

ADNOC Gas awards contracts

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

ADNOC L&S buys stake in Navig8

The company will acquire the remaining stake in mid-2027.

DAE to acquire Nordic Aviation Capital

The terms of the transaction have not been disclosed.

Emirates’ first A350 takes flight

The airline operated the inaugural flight from Dubai to Edinburgh.

UAE unveils three initiatives to mark World Environment Day

    • An MoU with idea innovator company Ideanco to collaborate in promoting climate solutions one of the measures

    • The theme for World Environment Day this year is Ecosystem Restoration

    The Unite Arab Emirates’ Ministry of Climate Change and Environment has signed a Memorandum of Understanding with New York-headquartered idea innovator firm Ideanco to collaborate in promoting climate solutions and entrepreneurship in the field, said local reports on Friday, June 4.

    This is reportedly one of the three initiatives that the ministry has rolled out in the run-up to World Environment Day 2021, whose theme this year is Ecosystem Restoration.

    UAE Climate Change and Environment Minister Abdullah Belhaif Al Nuaimi was quoted by the local reports as saying: “As we celebrate World Environment Day, we are proud to announce three new initiatives that will help develop game-changing solutions to environmental issues and inform decision making.”

    Besides collaborating with Ideanco, the ministry will also support the company’s Climathon, which aims to bring together the brightest minds to present cleantech ideas with a potential global impact that can help solve common challenges to air quality, mobility, and agribusiness. It will be held from October 2 to 12 this year.

    The MoU also reportedly promises joint campaigns and programs aimed at raising public environmental awareness and engaging youth in environmental preservation and sustainability drives.

    The two entities will also reportedly work together to support startups in the climate change and sustainability space.

    The UAE is already pushing for renewable energy infrastructure, with constituent emirates setting up plants that will either generate electricity with a possible carbon-negative impact on the environment, or cleaner fuel.