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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

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ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Green groups sue Europe over false energy label

Greenpeace holds that nuclear power represents a danger to the environment. (AFP)
  • The lawsuit over gas was launched by WWF, ClientEarth, Transport&Environment and the German NGO BUND.
  • Greenpeace, sued the EU executive separately for deciding that nuclear energy was worthy of its sustainable investment label.

BRUSSELS, BELGIUM – Environmental groups lodged a lawsuit against the European Commission on Tuesday to challenge its definition of natural gas as a “green” energy source.

In addition, one other non-governmental organization, Greenpeace, sued the EU executive separately for deciding that nuclear energy was worthy of its sustainable investment label.

The legal actions at the European Court of Justice come a year after the EU established its so-called “taxonomy” – a classification list – of energy sources deemed sustainable as it seeks to shift to a carbon-neutral future.

Nuclear power and natural gas were included, considered as “transitional” sources worthy of benefiting from breaks for green financing.

The lawsuit over gas was launched by WWF, ClientEarth, Transport&Environment and the German NGO BUND.

They said in a joint statement that “fossil gas” releases high levels of carbon when burnt, and its extraction and transport contribute to methane emissions.

They called its inclusion in the EU taxonomy “as absurd as it is illegal”, arguing that it went against the Paris climate accord and the policies of public financial institutions such as the European Investment Bank.

Greenpeace argued in its lawsuit that the EU was applying a “false label” to nuclear power that could drain green financing from other sources.

Although nuclear power emits no carbon, Greenpeace holds that it represents a danger to the environment.

That view is shared by some EU countries, notably Germany, Austria and Luxembourg, which have also gone to the Court of Justice of the European Union to challenge nuclear power’s inclusion.