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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.
  • Saudi Arabia eyes zero carbon emissions by 2060

    At the Saudi Green Initiative forum, the Gulf country has also vowed to join a global effort to reduce methane...

    Saudi Arabia has announced plans to reduce carbon emissions by 278 million tons annually by 2030

    The country is also taking the Global Methane Pledge to reduce methane emission

  • New leaks rock Facebook

    Internal documents seem to support the accusations.

    Facebook held back from doing all it could to stop users from being radicalized, say recent leaks

    It is also accused of not doing enough to stop US election misinformation from flooding the social network

  • Egypt looks to raise renewable energies share to 42% by 2035

    Egypt is looking to increase the share of renewable energies to over 42 percent by 2035, after the country reached...

    Mohamed Shaker, the minister of electricity and renewable energy, noted that Egypt has allocated 7,650 square kilometers of unused lands to new and renewable energy projects

    He said that Egypt is the largest holder of electrical capacities in the MENA region and has the capacity to produce up to 90 gigawatts of wind and solar capacity

  • John Kerry

    US climate envoy to take part in Middle East Green Summit

    John Kerry, the US climate envoy, will be in Saudi Arabia on Sunday to participate in the Middle East Green...

    Kerry will “engage with government counterparts and private sector leaders on efforts to address the climate crisis”

    Saudi Arabia will host the inaugural Saudi Green Initiative Forum and Middle East Green Initiative Summit in Riyadh on Oct. 23-25

  • Animal kidney works in human patient in ‘potential miracle’

    The donor animal belonged to a herd that had undergone a genetic editing procedure to knock out a gene that...

    Critically, the organ was able to reduce the level of the molecule creatinine, a key indicator of kidney health

    Montgomery carried out the surgery with several colleagues over the course of around two hours.

  • Rio Tinto to ‘halve’ emissions

    Mining releases 4-7% of global greenhouse gas emissions.

    Rio Tinto said it would spend around $7.5 billion from now until the end of the decade to reduce emission

    The cut would be to so-called scope one and two emissions — from mining operations and power consumption

  • Planned fossil fuel output shatters 1.5C climate target, says UN

    The UN's Environment Program said government fossil fuel production plans this decade were "dangerously out of sync" with emissions goals.

    The UN says emissions must go down nearly 50 percent by 2030 and to net-zero by mid-century to limit warming

    But its Production Gap report found that total fossil fuel production would likely increase until at least 2040

  • Sabic leads low-carbon plan

    Sabic, WEF, and global companies will formalize the plan.

    The agreement will look to formalize the low-carbon emitting technologies or LCET initiative into a standalone entity by 2023

    As a result, LCET members will share early-stage risks and co-invest in developing and upscaling low-emission technologies

  • Climate change a double blow for oil-rich Mideast: experts

    The climate crisis threatens a double blow for the Middle East, experts say, by destroying its oil income as the...

    Little has been done to address the challenge in a region long plagued by civil strife, war and refugee flows

    Yet it is also home to several of the last countries that have not ratified the 2015 Paris Agreement

  • Saudi Arabia to ease Covid-19 measures from October 17

    While the country has scrapped social-distancing, it has not done away with the mask mandate.

    Masks are not compulsory now in open places, but must be worn in closed places

    The authorities have allowed full capacity in gatherings, public places, means of transportation, restaurants, and cinemas

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