Manchester, United Kingdom - Newcastle must overcome the might of Paris Saint-Germain and a mounting injury list if the Magpies' first foray into the Champions League for 20 years is not to come to a premature end on Tuesday. Damaging back-to-back defeats to Borussia Dortmund have left Eddie Howe's men sitting...

Spanish energy company Iberdrola announced £7 billion of funding for offshore wind infrastructure while US tech giant Microsoft plans to invest £2.5 billion in artificial intelligence (AI) infrastructure, including data centers.

Jeddah, Saudi Arabia -- Football stars David Villa and Paolo Maldini visited Jeddah today to promote the 2023 FIFA Club World Cup, which will be hosted in the city from December 12 to 22.The two stars met with football fans at the FIFA Club World Cup Saudi Arabia official pre-tournament...

ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator Financing (ETAF) platform to accelerate the financing and drive funding of renewable energy projects in developing countries. The ETAF platform is a global climate finance facility established by the International...

Beijing, China--China's top diplomat Wang Yi will visit New York this week to hold a United Nations Security Council meeting on the Israel-Hamas conflict, Beijing's foreign ministry said on Monday. "As it holds the rotating presidency of the United Nations Security Council this month, China will hold a high-level meeting on...

Dubai, UAE--DP World and the International Renewable Energy Agency (IRENA) have signed a cooperation agreement to accelerate the use of renewable energy and cut emissions from the ports and maritime logistics sector. Signed by IRENA Director-General Francesco La Camera and DP World Group Chairman and CEO Sultan Ahmed bin Sulayem,...

Abu Dhabi, UAE--AD Ports Group in collaboration with KazMorTransFlot (KMTF) has announced the acquisition and commencement of operations of two state-of-the-art vessels designed for the transportation of Kazakhstan's oil across the Caspian Sea. The two oil tankers were named Liwa and Taraz - after ancient cities in the UAE and...

RIYADH, SAUDI ARABIA  - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor, which showed a 3.5 percent growth in the number of SMEs in the Kingdom in Q3 2023, bringing their total number to 1.27 million. With over 40,000 new businesses created...

SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million 144A/Reg S senior unsecured sukuk for Abu Dhabi-based Ittihad International Investment LLC, alongside other international and regional banks. In response to the successful closure of this transaction, Mohamed Khadiri, CEO...

Baghdad, Iraq -- Sixty percent of farmers surveyed in four provinces of drought-hit Iraq reported having to reduce cultivated areas or water used, an international rights group said Sunday. The Norwegian Refugee Council called on the Iraqi authorities to improve governance of water resources in the country that has been described...

The West Bank has seen an uptick in violence since the October 7 cross-border attack on Israel by Hamas last month, in which fighters from the Gaza Strip killed 1,200 people, most of them civilians, according to the Israeli authorities. Israel has since responded with a bombing and land campaign...

Manama, Bahrain-- Bahrain and the European Union (EU) have held discussions to boost cooperation in various domains, including the energy sector. In this regard a meeting took place in Manama between Dr. Mohammed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs and Christophe...

AMMAN, JORDAN – The Kingdom’s exports of jewelry increased by 71.5 percent during the January-September period of 2023 and pharmaceutical preparations by 28.2 percent, while other materials' grew by 12.2 percent, as per figures monitored by Petra based on official statistical data. The value of national exports of jewelry until...

MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB) plans to invest US$100 billion of its own funds and work with the public and private sector to maximize its climate impact. With the region on the frontline of the...

Paris, France--Oil and gas producers face pivotal choices about their role in the global energy system amid a worsening climate crisis fuelled in large part by their core products, according to a major new special report from the IEA. The report shows how the industry can take a more responsible...

Dubai, UAE--Senior Hamas leader Ismail Haniyeh has called the ceasefire in the Gaza Strip a political victory at a meeting with Iranian Foreign Minister Hossein Amir-Abdollahian in Doha. "The ceasefire is a political victory achieved as a result of the success of the resistance forces on the ground. Our enemy...

Dubai, UAE--Dubai will host a gathering of international corporate governance experts at the upcoming ICGN-Hawkamah Conference, themed 'Capital, Companies, and COP28.' Taking place over two days starting November 28th at the Dusit Thani Hotel, the conference will serve as a prominent platform for governance leaders, experts, and industry luminaries to...

Santiago, Chile - Thousands of miles from the Middle East, in a stadium in Santiago, Chile, the nation of Palestine exists, if only for the 90 minutes of a soccer match. Chileans and Palestinians created that alternate reality again on Thursday when Club Deportivo Palestino, which traces its origins to Palestinian...

Stockholm, Sweden - Fine particle pollution caused the deaths of over 250,000 people in the European Union in 2021, according to a report by the European Environment Agency (EEA) published on Friday. Fine particulate matter, or PM2.5, is a term for fine particulates that are typically the by-product of car exhausts...

Abu Dhabi, UAE - ADNOC announced on Friday it opened “H2GO”, the region’s first high-speed green hydrogen pilot refueling station, to test a fleet of zero-emission hydrogen-powered vehicles. The station will be operated by ADNOC Distribution, and is likely to create green hydrogen from water using an electrolyzer powered by...

RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget deficit, media reported. The 10-year loan was funded by a group of banks including Industrial and Commercial Bank of China, Citigroup Inc, First Abu Dhabi (FAB), and HSBC Holdings Plc, according...

DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the Dubai Metro Blue Line project. This is a new 30 kilometer metro route that will strategically link key areas in the emirate through 14 stations, in line with the anticipated...

RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of investments, Abdulrahman Altawil, the Kingdom’s Deputy Minister, Developmental Housing, Municipal and Rural Affairs and Housing said here. This reflects their confidence in the Egyptian market, he said. In a speech...

Beijing has this year sought to play a greater role in the Middle East, facilitating a historic rapprochement between Saudi Arabia and Iran, and sending an envoy to the region to push for a ceasefire in the Israel-Hamas conflict.

DOHA, QATAR - The merchandise trade balance of Qatar (difference between total exports and imports) recorded a surplus of US$6.7 billion (QR60.9 billion) Q3 2023, down from US$28 billion (QR102.1 billion) in Q3 2022. According to the press release on Quarterly Foreign Merchandise Trade Statistics, Q3 2023 State of Qatar,...

RIYADH, SAUDI ARABIA - The Saudi-Algerian Business Forum concluded its activities with the two countries signing eight agreements aiming at enhancing trade and investment. The agreements covered trade, investment, information technology, business incubators and accelerators, tourism services, elevators, and spare parts. The agreements were signed on Thursday by the Federation...

Dubai, UAE -- Qatar Chamber has underscored Qatar's significant strides in the transport sector, positioning the nation as a formidable player with a $9.9 billion market investment. This achievement has propelled Qatar to claim the second-best spot in the region for logistics efficiency. Eng. Ali bin Abdullatif Al Misned, a...

Copenhagen, Denmark - Misuse of antibiotics is denting their efficacy and spawning resistant bacteria which could be responsible for 10 million deaths worldwide by 2050, the World Health Organization warned on Thursday. WHO's European chapter conducted a study which showed that antibiotics were prescribed for things like common cold (24 percent...

ABU DHABI, UAE – Emirates Global Aluminum (EGA) on Thursday announced the construction of a pilot plant to convert bauxite residue, a waste stream from alumina refining, into manufactured soil. The pilot plant is considered to be the first-of-its-kind in the world. Construction follows five years of scientific research development...

ABU DHABI, UAE - Masdar City, a sustainable urban community and a business and technology hub here, has just completed the region’s first net-zero energy commercial building, called NZ1. The building’s simple design demonstrates that net-zero energy is possible for almost any developer, setting a new benchmark for architects and...

After tedious days marked by idle chitchat and dreary diets of beans and instant coffee, the men, all Egyptians, took some comfort in news that more fuel and other essentials may soon be allowed in as part of a four-day truce that could begin as soon as Friday. But it...

exposed the double standards and selective application of international laws and UN resolutions by the global community. Representing Saudi Crown Prince Mohammed bin Salman, Saudi finance minister Mohammed Al-Jadaan said that the Israeli invasion of the besieged Gaza was in flagrant violation of international laws and it had led to...

Paris, France--The International Energy Agency on Thursday called on oil and gas companies to devote half of their investments to clean energy by 2030, urging them to face a "moment of truth" at next week's COP28, the largest UN climate change conference ever held. The IEA urged producers to make the...

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Emirates Steel Arkan to develop a pioneering project utilising green hydrogen to reduce carbon emissions in the UAE's energy-intensive steel industry. Marking the first of its kind in the Middle East and North Africa region, this innovative...

Dubai, UAE--Dubai International Chamber has attracted a total of 92 businesses, including 15 multinational companies and 77 SMEs, to the emirate between January and September 2023. The chamber has also supported the successful expansion of 33 Dubai-based companies into global markets, either by increasing their exports or helping them to...

New York, United States - Wall Street stocks resumed their upward climb early Wednesday following strong results from artificial intelligence player Nvidia as US Treasury yields retreated. Nvidia said it made a profit of $9.2 billion on revenue of a whopping $18.1 billion in the third quarter, compared with $5.9 billion...

Copenhagen, Denmark - How was the air breathed by Caesar or Christopher Columbus? A giant freezer in Copenhagen holds the answers, storing blocks of ice with atmospheric tales thousands of years old. The Ice Core Archive, housing 25 kilometers (15 miles) of ice collected primarily from Greenland, is helping scientists understand...

Commercial traffic ground to a halt Tuesday when Pakistan began requiring the crew of commercial vehicles to have passports and visas to enter, and Afghanistan responded by refusing to allow any trucks to pass. Long-fraught relations between Kabul and Islamabad have worsened since October, when Pakistan announced plans to deport...

Tehran, Iran--Iran will begin construction work on joint railway projects with Russia as part of the International North-South Transport Corridor (INSTC). "The preliminary steps and obtaining the necessary permits for the construction of the Rasht-Astara railway have been carried out by the Iranian side, and we hope that with the...

Muscat, Oman--Oman LNG has entered into a sale-and-purchase agreement (SPA) with BP to deliver a total of 1 million metric tonnes per annum (MTPA) of LNG to BP. The agreement strengthens the robust relationship between Oman LNG and BP, with which the company has previously signed SPAs to supply reliable...

Stockholm, Sweden - Battery group Northvolt said on Tuesday it had developed a new sodium-ion battery, a technology using less critical minerals which could lessen dependence on China. "The world has put high hopes on sodium-ion, and I'm very pleased to say that we've developed a technology that will enable its...

Paris, France - Tax havens are blamed for lower public revenues elsewhere as they lure away multinational firms but a study published on Tuesday showed that tax breaks in high-rate countries are also heavily exploited. Half the profits booked by multinationals benefiting from low tax rates were from countries that have...

Jakarta, Indonesia - Indonesia on Tuesday launched an investment plan to attract $20 billion pledged by Western nations in a renewable energy transition pact agreed last year for the archipelago to slash emissions and wean itself off coal. The roadmap, which comes less than two weeks before the COP28 summit in...

MOSCOW, RUSSIA – The foreign ministers of Saudi Arabia, Jordan, Egypt, Indonesia, Palestine and the Secretary General of the Organization of Islamic Cooperation (OIC) have arrived here to discuss the Gaza Strip with Russian Foreign Minister Sergey Lavrov, a diplomatic source told TASS. "They have arrived, the meeting will start...

ABU DHABI, UAE  - Emirates Global Aluminum (EGA) on Tuesday announced the start of construction of the country’s largest aluminum recycling plant. The state-of-the-art facility, with an annual production capacity of 170,000 tonnes, is being built adjacent to EGA's existing smelter in Al Taweelah. The plant will utilize a combination...

Abu Dhabi, UAE--ADNOC and Santos have signed a strategic collaboration agreement (SCA) to build a joint global-carbon-management platform that could support the decarbonisation journey of customers throughout Asia-Pacific. The SCA also provides companies with the opportunity to work together to advance critical carbon capture and storage (CCS) technologies necessary to...

Dubai, UAE--The Dubai Financial Market (DFM), Nasdaq Dubai, and Shanghai Stock Exchange (SSE) have signed a memorandum of understanding (MoU) to further strengthen the ties between the capital markets of Dubai and China. This partnership marks a significant milestone in cross-border collaboration. It will not only facilitate the exchange of...

PARIS, FRANCE -  Countries' greenhouse gas-cutting pledges put Earth on track for warming far beyond key limits, potentially up to a catastrophic 2.9 degrees Celsius this century, the UN said Monday, warning "we are out of road". The UN Environment Program's annual Emissions Gap report is released just ahead of crucial...

RIYADH, SAUDI ARABIA – ACWA Power Co  said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority (DEWA) for phase two of concentrated solar power (CSP) Parabolic Trough (PT) 200 megawatts (MW) unit of Noor Energy 1, taking total capacity under operation to 717 MW. The second phase is part of a 950 MW solar CSP independent...

DUBAI, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has achieved significant growth in membership during 2023. A total of 48,616 new member companies registered between January and September this year, representing an impressive year-over-year (YoY) increase of 42.9 percent...