Since the Gaza war, the Houthi rebels have seized an Israeli-linked cargo vessel and fired ballistic missiles at various targets. On Sunday, US Central Command said US warships shot down three suspected Houthi drones in the Red Sea. The Biden administration has said it will consider redesignating the Houthis a...

Dubai, UAE--The Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund) announced at COP28 that more than 70% of its funding, equivalent to more than $9 billion, will be spent over the next three years in favour of the countries most affected by climate change, with the aim of...

Inside the negotiating rooms and on the sidelines of the COP28 climate talks, simmering tensions over wealthy countries' "green trade" policies have been bubbling to the surface, with developing nations fearful they will be penalized. A particularly sore point has been the European Union's new carbon border tax, which sets...

Abu Dhabi, UAE - Masdar City, an Abu Dhabi, UAE-based sustainability and innovation hub dedicated to making all cities a solution to climate change, has announced the region’s first net-zero energy mosque. Masdar City hopes to set a new industry standard for houses of worship in the region through an...

Istanbul, Turkey - Saudi and Turkish companies, part of the Saudi-Turkish Business Council, signed eight trade agreements to strengthen trade and investment between the two countries. The Federation of Saudi Chambers, Saudi General Authority of Foreign Trade, and Turkish Foreign Economic Relations Board co-organized the meet between the two. It...

Hong Kong, China - Gold prices soared to a record high above $2,100 on Monday as traders grow increasingly confident the Federal Reserve will cut interest rates in the new year. The precious metal struck $2,135.39 in early Asian trade, topping the previous all-time high set in 2020, during the pandemic....

The case concerns US-owned F-35 parts stored at a warehouse in the Netherlands and then shipped to several partners, including Israel, via existing export agreements

RIYADH, SAUDI ARABIA – The Kingdom's Minister of Environment, Water and Agriculture Eng. Abdurrahman bin Abdul Mohsen Al-Fadhli signed a memorandum of understanding (MoU) with the Turkish Minister of Agriculture and Forestry İbrahim Yumaklı. The MoU aims to strengthen cooperation and enhance production capabilities in the domains of agriculture, livestock...

The Public Company Accounting Oversight Board (PCAOB) imposed the penalty on the China and Hong Kong offices of the "Big Four" auditing company on Thursday. The two offices issued identical statements on Friday saying it was "highly regrettable that a number of employees engaged in the improper sharing and use...

Dubai, UAE--The Emirates Nuclear Energy Corporation (ENEC) has signed a memorandum of understanding with TerraPower, an American nuclear innovation company, to collaborate in various areas of technological development. The MoU was signed during COP28 by Ahmed Al Mazroui, Nuclear Research and Development Vice President of ENEC, and Chris Levesque, President...

Dubai, UAE-- The UAE and Turkmenistan have agreed to enhance bilateral ties in all fields, particularly in the development sectors, in the "interests of the two friendly countries and peoples." The resolve to boost ties was expressed during a meeting between UAE's vice president Sheikh Mansour bin Zayed and Turkmenistan...

Dubai, UAE-- UAE President Sheikh Mohamed bin Zayed and UN Secretary General António Guterres discussed the importance of the conference in enhancing international collective action to address climate challenges in a manner that serves humanity and future generations. The meeting between the two took place at the ongoing UN Climate...

Washington, United States -- The instant messaging platform WhatsApp launched a new update that includes an optional feature that allows users to post status updates via Instagram, as this feature will be available in a future update to the application through its beta program within the Google Play Store. During...

DOHA, QATAR - QatarEnergy has announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG. QatarEnergy described the integration process as a major move towards consolidating the company’s position as a global energy leader and an important milestone to enhance the effectiveness of LNG marketing...

DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the Middle East and North Africa (MENA) region could create 10 million new jobs and accelerate GDP to 7.2 percent by 2050 via taking a serious approach to climate action. In...

Launched by the Islamic Culture Foundation in 2018, Bouregreg Med-O-Med school provides free training to dropouts and other marginalized youths threatened with unemployment. Every year, the school takes in up to 90 apprentices, "young people who come from complicated family situations... and from really precarious and difficult surrounding neighborhoods, said...

Dubai, UAE--The COP28 Presidency Saudi Arabia have launched a landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry charter dedicated to speeding up climate action and achieving high-scale impact across the oil and gas sectors. To date, 50 companies, representing more than 40 percent of global oil production have...

Dubai, UAE--The United Arab Emirates (UAE) and Kazakhstan signed an agreement outlining a commitment to co-operation in the development of Kazakhstan’s renewables sector, including through the development of a large-scale wind power project with a 1GW capacity. Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, oversaw the signing of the...

Abu Dhabi, UAE - AD Ports Group signed an agreement with Kazakhstan Temir Zholy JSC (Kazakhstan Railways to form a joint venture (JV) to enhance rail connectivity, maritime shipping services. This includes development of operations in Kazakhstan’s ports, accelerate digital transformation and connectivity in Central Asia. The joint venture, owned...

Khan Yunis, Palestinian Territories - A middle-aged man with a blank, shattered expression walked slowly down a ramp at the hospital, gently cradling in his arms a tiny body wrapped in a white shroud. After the collapse of a week-long truce between Israel and Hamas, the Nasser hospital's morgue in Khan...

DUBAI, UAE – At the UN Climate Change Conference (COP28) here, UAE President Sheikh Mohamed bin Zayed Al Nahyan attended part of the Group of 77 and China meeting. The President extended a warm welcome to the leaders present, underscoring the significance of collaboration among developing nations to enhance common...

LONDON, UK - The UAE has been re-elected to the Council of the International Maritime Organization (IMO) in the Category B membership for the fourth term with the highest number of votes, following comprehensive efforts and an intensive election campaign leading up to the elections. Through its landmark initiatives, the...

Dubai, UAE--The IMF announced Friday that it will revise its economic outlook for the Middle East and North Africa region due to the ongoing Israel-Hamas conflict. The conflict will have wide-ranging consequences for "both people and economies" in the region, although the extent of the impact remains "highly uncertain," the...

Dubai, UAE--Abu Dhabi Future Energy Company, also known as Masdar, is part of a $14 billion investment into the UK’s renewable energy sector and is purchasing a 49 percent stake in RWE’s 3 gigawatt (GW) Dogger Bank South (DBS) projects - which form one of the world’s largest planned offshore...

Riyadh, Saudi Arabia -- Saudi renewables giant ACWA Power has said it launched the first phase of green hydrogen project in Uzbekistan, with a production capacity of 3,000 tons per year. In a statement, the company added that the project will be developed in two phases. The first phase, a...

TAMM becomes first to use UAE’s Falcon large language models.

ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first financial services empowered by artificial intelligence (AI) in 2024. In statements to the Emirates News Agency (WAM) on the sidelines of the Abu Dhabi Financial Week (ADFW), Abu-Sheikh said that...

RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned by Kaspersky has found. The data shows that 71 percent of companies in Saudi Arabia suffered at least one cyber incident over the last two years. One of the main...

ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure organizations dedicated to sustainable Islamic finance. The events, which took place in Abu Dhabi on November 27-28 2023, are part of CBUAE’s efforts to promote sustainable finance and expedite initiatives...

Washington, United States - A key inflation measure used by the US Federal Reserve to set interest rates eased further last month amid declining energy and goods prices, according to government data published Thursday. The annual personal consumption expenditures (PCE) price index rose 3.0 percent in October, down 0.4 percentage points...

DUBAI, UAE – The Ministry of Human Resources and Emiratization (MoHRE) has notified over 12,000 private companies with 20-49 workers that Cabinet Resolution No. (33/5W) of 2023 regarding the expansion of Emiratization targets will be in effect starting January 2024. Companies with 20-49 workers will be required to hire one...

Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi is positioned as one of the globe's fastest-growing financial hubs between West and East Asia. Speaking to the Emirates News Agency (WAM) during Abu Dhabi Finance Week, El Solh underscored...

DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total value of US$107 million (AED394,586,000), in cooperation with 18 banks and financial institutions in the country. The initiative follows the directives of President Sheikh Mohamed bin Zayed Al Nahyan and...

Dubai, UAE--ENOC Group has signed a memorandum of understanding (MoU) with Neste, the world's leading producer of sustainable aviation fuel (SAF), in a pivotal step towards exploring the possibilities of supplying and purchasing of SAF regionally in the coming years. This ambitious goal underscores ENOC's proactive approach to fostering a...

Helsinki, Finland - Finland's Olkiluoto 3, the largest nuclear reactor in Europe, stopped production on Wednesday after a test caused the plant unit to unexpectedly go offline, its operator TVO said. "During the test, the plant was supposed to produce electricity normally," said Johanna Aho, head of communication at TVO. Before production was...

DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group in London, the UAE delegation has displayed the country’s contributions to the sector that have influenced the industry globally. Boasting a rich maritime history and a coastline of 1650 kilometers,...

Abu Dhabi, UAE -- First Abu Dhabi Bank (FAB) became the first MENA bank to publish a Task Force for Climate-Related Financial Disclosures (TCFD) aligned climate report. The TCFD standard, promoted by the Financial Stability Board since 2015, urges entities to specify the resilience of their strategies to climate-related risks...

Oslo, Norway - Oslo's city hall on Wednesday raised the Palestinian flag in a show of solidarity with the people of Gaza, where thousands have lost their lives as Israel bombarded the area in retaliation for the October 7 attack by Hamas. The initiative coincides with the International Day of Solidarity with...

Tokyo, Japan--A US Osprey military aircraft with eight crew on board crashed on Wednesday off a Japanese island, the coastguard said, in the latest accident involving the tilt-rotor military aircraft. It was unclear whether there were any survivors, but the coastguard said one unconscious person had been found at the scene...

Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) and the People’s Bank of China today signed an agreement to renew the currency swap between the UAE and China and a memorandum of understanding (MoU) to enhance technical and technological cooperation in the development of central bank digital currencies. The...

Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial sectors, expected toward the end of 2024. It was revealed by Bassel Al Khawaja, Advisory Head at Abu Dhabi IPO Fund (ADIPOF) on the sidelines of the 2nd day of...

Beijing, China - China's central bank and several government agencies unveiled 25 new measures Monday to support private economy. These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the sector crucial for the country's economic progress. According to Global Times, these measures represent...

DUBAI, UAE: Governments and the United Nations should create an internationally adopted framework specifically designed to help solve global challenges, a world-leading futurist on Tuesday told the Dubai Future Forum 2023 here. Dr. Jamie Metzl, founder of ‘OneShared.World’ and author of Hacking Darwin, said the world is struggling to address...

Antwerp, Belgium - As European capitals prepare to implement long-awaited sanctions on Russia's diamond exports, Belgian traders are bracing for new scrutiny of their industry. In Antwerp's renowned diamond district -- which handles an estimated 86 percent of the world's rough diamonds -- polishing "labs" are turning to blockchain technology to...

Silkyara Tunnel, India -- Indian workers were greeted with wild cheers and flower garlands Tuesday as rescuers safely brought out all 41 from the collapsed Himalayan road tunnel where they were trapped after a marathon 17-day engineering operation. With beaming smiles, the rescued men were welcomed as heroes after being hauled...

ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features and variety of terrain that makes it ideal for tourism. Situated at an altitude of 2,983 meters and having steep slopes, the basin, with a dense vegetation cover, is terraced...

Cairo, Egypt -- Egypt's global prominence received a boost as it jumped from 11th to third place in the 2023 Offshore BPO Confidence Index. The Offshore BPO Confidence Index 2023 report, highlighting Egypt's ascent, delves into key global outsourcing locations. Egypt's performance across seven categories—Local Labor Market, Infrastructure, Commercial Property,...

RIYADH, SAUDI ARABIA - Al Rajhi Bank said on Monday that it has appointed Abdullah bin Sulaiman Al Rajhi as chairman of the board of directors. The bank said in a regulatory filing on the Tadawul that it also named Ibrahim bin Mohammed Al Romaih as vice chairman. Al Rajhi...

Stockholm, Sweden - Electric carmaker Tesla on Monday filed a lawsuit against the Swedish state over a strike by postal workers that is blocking deliveries of license plates for its new cars. Tesla is currently facing strikes on multiple fronts in Sweden over its refusal to sign a collective wage agreement...

ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023 auction for Clean Energy Certificates (CECs) here, with registration now open and the auction closing on December 14 2023. Introduced by the Abu Dhabi Department of Energy (DoE), CECs are...