INSEAD Day 4 - 728x90

Climate Change

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings
  • World falling dangerously short of climate goals: UN report

    Paris, France - A world facing catastrophic climate change is perilously off course in meeting goals for slashing carbon pollution and boosting finance for the developing world, according to the UN's first official progress report out Friday. The 2015 Paris treaty has successfully driven climate action, but "much more is needed...
  • IMF, World Bank vow to address climate change threat at G20

    The leaders of the International Monetary Fund and World Bank announced that the two institutions will collaborate more closely to tackle the "existential threat" posed by climate change. "Climate change is a threat to global peace, security, economic stability," IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga...
  • 2023 likely to be hottest year in human history, says EU climate monitor

    "2023 is the year that climate records were not just broken but smashed," said Mark Maslin, a professor of climatology at University College London.
  • G20 shirking ‘critical’ climate issues: UN climate chief

    The G20, which accounts for about 85 percent of the world's economy and greenhouse gas emissions, will meet in New Delhi in the absence of China and Russia's leaders, as the invasion of Ukraine, trade and the future of fossil fuels stir tensions.
  • Climate change worsening heatwaves, air quality: UN

    The wildfire smoke recently suffocating cities from Athens to New York may be the most visible sign of air pollution brought on by heat waves. But extreme heat can also induce a whole host of other chemical processes that are hazardous for human health, the United Nations' World Meteorological Organization...
  • ‘Multilateralism only option to tackle global crises’

    Stressing that “we are in a race against time” on issues from climate change and biodiversity loss to education and gender equality, he calls on Member States to “put money where our promises are” — supporting sustainable development with appropriate regulations, financing, capacity-building and verification.
  • Istanbul dams run low after scorching, dry summer

    The bank of screens in Ismail Aydin's Istanbul water management system control room flashes a worrying number: 29.7 percent. That is the capacity level to which Istanbul's water reservoirs have dropped after another steamy summer put Turkey's largest city on the edge of a potential catastrophe.
  • Canada’s fires in north force another town to evacuate

    Canada is suffering through its worst forest fire season in recorded history, with much of the country hit by high temperatures and serious drought. A total area of 15 million hectares (37 million acres) has now burned, an area larger than Greece.
  • COP28 to help green transition in developing nations

    "International reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change risks, as 60 percent of the region's population lives in areas that suffer severely from water stress, and 20 million people could be displaced due to climate change," she adds.
  • Climate change to be discussed in Dubai COP28 meet, says Egypt minister

    Cairo, Egypt - Egyptian Minister of International Cooperation Dr. Rania Al Mashat, said the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) is likely to address climate change issue and its effects on countries and people, local media reports said. The UAE will host...
  • Global warming induced stress could threaten health of 1 billion cows

    Nearly eight out of 10 cows across the planet are already experiencing excessively high body temperatures, spiked respiration rates, bowed heads and open-mouthed panting -- all symptoms associated with severe heat stress, the study said. In tropical climates, 20 percent of cattle endure those symptoms year-round.
  • Dubai Chambers saves water, works on sustainability agenda

    DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres of water between June 2022 and June 2023, equivalent to 3,822 five-gallon bottles. The savings were achieved as part of the chambers’ participation in ‘Dubai Can’, a sustainability initiative launched...
  • Greek firefighters struggle to control wildfires for sixth day

    Athens, Greece--Hundreds of firefighters in Greece struggled Thursday to gain the upper hand against major wildfires burning unchecked for a sixth day, leaving 20 dead. A dangerous blaze continued to burn on Mount Parnitha near Athens, in the largest forest adjoining the capital, threatening a national park for a second day....
  • Carbon neutrality strategy to propel green transition

    This ambitious strategy, commissioned by the ASEAN Member States and with the support from the Australia for ASEAN Futures (AUS4ASEAN) initiative, frames the need for ASEAN to pursue carbon neutrality with utmost urgency, and in doing so unlock the huge value potential of a green transformation of the region.
  • Tens of thousands of Canadians flee homes as wildfires spread

    Prime Minister Justin Trudeau said he had spoken with British Columbia Premier David Eby about the "rapidly evolving and incredibly devastating wildfire situation" and pledged federal resources in responding to the disaster. Blazes far away in the neighboring Northwest Territories have meanwhile prompted the evacuation of regional capital Yellowknife, leaving...
  • Caspian Sea water levels hit 30-year low

    Estimates reveal a 9-meter decline in Caspian Sea water levels, shrinking the area by 24 percent, as the northern half witnesses a more significant drop than the southern part.
  • Ceer Siemens

    Ceer and Siemens deal to boost EV in Saudi Arabia

    Riyadh-based Ceer is collaborating with Siemens Digital Industries Software to accelerate Ceer’s digital transformation and empower its engineers to design and build truly next-generation vehicles.
  • Iraq drought claims popular lakeside resort

    Shorelines at Habbaniyah, about 70 kilometres west of Baghdad, have receded by several dozen meters after years of drought ravaged parts of the country.
  • UAE takes lead in advancing global climate action

    Through the COP28 Summit, the UAE aims to facilitate discussions, build consensus, and catalyze transformative actions to address the escalating global climate crisis.
  • Saudi Arabia, France vow to promote secure, affordable and sustainable energy

    RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met and issued a joint communiqué: The Government of the Kingdom of Saudi Arabia and the Government of the French Republic acknowledge that energy is one of the main pillars of...
  • Residents fume as Hawaii fire death toll climbs to 89

    Lahaina, a town of more than 12,000 and former home of the Hawaiian royal family, has been reduced to ruins, its lively hotels and restaurants turned to ashes. No emergency sirens were sounded, and residents have spoken of learning about the blaze because of neighbors running down the street yelling...
  • Iraq’s extreme temperatures a ‘wake-up call’ for world: UN

    It has been experiencing its fourth consecutive summer of drought, and temperatures in the country have been around 50 degrees Celsius. "Rising temperatures plus the drought, and the fact that the loss of diversity is a reality, is a wake-up call for Iraq and for the world," UN human rights...
  • Fish farms reel from climate change in water-stressed Iraq

    Drastic government measures have restricted water use for some purposes, including crop irrigation, and authorities have cracked down on illegal practices they long ignored.
  • UAE to mobilize global tech, space sectors for climate action ahead of COP28

    ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors. The collaboration is aimed at harnessing emerging technological innovations and developments to tackle global climate change.   The Ministry of Industry and Advanced Technology (MoIAT), UAE Space Agency, and COP28, through...
  • Mobilize global action to deal with food insecurity

    “In conflict, international humanitarian law is clear: parties to armed conflict must take constant care to spare the objects necessary to produce food and drinking water and they must never target civilian objects. There is not only a moral but a legal duty also to uphold these norms,” Al Kaabi...
  • Blazing heat spurs record energy consumption in Bahrain

    Life in Bahrain largely moves indoors during the summer months, with the ever-present Arctic blast of air-conditioning systems.
  • In a warming world, is an air-conditioned future inevitable?

    Washington, United States - They are ubiquitous in the United States, controversial in Europe and coveted in South Asia. As heatwaves intensify across the world, air conditioning has taken center stage. For better or for worse, these power-hungry appliances are among the most common adaptations to a warming world. They have...
  • Kuwait’s scorching summers a warning for heating planet

    Kuwait City, Kuwait -- As the blazing summer sun beats down on Kuwait, shoppers stroll down a promenade lined with palm trees and European-style boutiques, all without breaking a sweat. In one of the world's hottest desert countries, it's all made possible by architecture and technology: the entire street is located...
  • UAE oil giant ADNOC pledges to ‘accelerate’ zero-carbon plan

    ADNOC "is accelerating its decarbonization plan to advance its net-zero ambition to 2045, compared to its previous target of 2050," the company said in a statement. It said it intends to "increase its investments and redouble efforts in decarbonization," relying on an initial financing of $15 billion for "low-carbon solutions"...
  • UAE vows $100m to tackle migration, climate change

    "The UAE believes in the importance of joint action, integration of efforts, and promotion of economic development for countries facing development challenges and affected by irregular migration, according to a framework of joint planning with various international partners," adds Al Hashimy.
  • Arab-Indian Chamber of Commerce to be unveiled soon

    NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the “Delhi Declaration” at the conclusion of the sixth India-Arab Partnership Conference in New Delhi, local media reports said. The Declaration asserted that “India and the Arab countries are witnessing a...
  • Saudi Arabia to host MENA Climate Week in October to ‘assess progress’

    Riyadh, Saudi Arabia--Saudi Arabia will host the MENA Climate Week 2023 in Riyadh on October 8-12, in coordination with the United Nations Framework Convention on Climate Change (UNFCC). The MENA week’s activities and events will be “Global Stocktake” to assess the progress made towards realizing the climate changes objectives outlined...
  • UAE emissions plan ‘insufficient’, say climate groups

    PARIS, FRANCE - New carbon-cutting plans by this year's UN climate talks host the UAE were branded "insufficient" by an analysis on Thursday that hit out at the oil-rich nation for allegedly undermining its own targets with plans to increase fossil fuel production. The UAE, which will host the COP28 United...
  • US, Arab League discuss Middle East, Israeli-Palestinian conflict

    The US-Arab Strategic Dialogue discussed Middle East peace and the Israeli- Palestinian conflict, among other issues. The dialogue concluded successfully and the US and Arab League issued a joint statement on several issues. They statement said that they will counter terrorism and violent extremism in all its forms.
  • Harness AI opportunities, assess threats to peace

    "AI development is now outpacing Moore's Law and moving at breakneck speed, and governments are unable to keep up. This is the wake-up call we need," asserts Sharaf, urging for a balanced outlook towards AI, emphasizing the need for "optimistic realists" who assess the possible threats posed by AI to...
  • Tata to build car battery factory in UK

    The $5.2bn factory is expected to create up to 4,000 jobs.
  • Governments should provide incentives for green finance, says Dubai Chambers’ webinar

    DUBAI, UAE – Participants at a webinar strongly supported governments providing incentives or regulatory frameworks to encourage greater participation in green finance initiatives. The webinar was organized by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers. Held by the chamber’s Center for Responsible Business as...
  • Saudi Arabia and Bahrain to collaborate on speeding up sustainable development

    New York, US--Saudi Arabia and Bahrain are looking to collaborate in order to speed up the sustainable development goals, aligning them with government programs under the 2030 Agenda. In this connection, discussion took place at a joint meeting between Amna bint Ahmed Al Romaihi, Minister of Housing and Urban Planning, Noor bint Ali Alkhulaif, Minister of...
  • UN hands over boat for oil transfer from rusting Yemen tanker

    Aboard Nautica , Yemen - The United Nations on Monday handed over a vessel that will take on board oil from a decaying tanker in the Red Sea off war-torn Yemen, an operation aimed at averting an environmental catastrophe. The handover ceremony took place aboard the Nautica, which is being renamed...
  • Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation

    RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The statement is as follows: On July 16, in Jeddah, Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and Kishida Fumio,...
  • Global debt dominates as G20 finance chiefs meet in India

    Indian Finance Minister Nirmala Sitharaman, chair and host of the summit in Gandhinagar, began by telling finance leaders of "the responsibility we have... to steer the global economy towards strong, sustainable, balanced and inclusive growth". Talks will also focus on "critical global issues such as strengthening the multilateral development banks...
  • Towards the next 50 years between Japan and UAE

    "In education, Japan is working to promote study exchanges and internships for Emirati students and young professionals. Japan continues to support Japanese language education in the UAE, where interest in Japanese culture and language is strong," Kishida adds whille highlighting that the two countries marked the 50th anniversary of diplomatic...
  • Iraq honey production at the mercy of heat and drought

    Bees thrive in temperatures of around 30-35 degrees Celsius, not in searing heat, when the thermometer climbs to 50, said Aliawi, the manager of a private honey producer. The country has been plagued by scorching summers, declining rainfall and frequent sand storms, while upstream dams have reduced the flow of...
  • UAE, India join forces to bolster new economy sectors

    "The Emirati-Indian economic cooperation is gaining increasing momentum in sectors of the circular economy, tourism, aviation, entrepreneurship, small and medium enterprises, renewable energy, technology, digital transformation and transportation, in light of their economic partnership and the capabilities," he adds.
  • UAE, India pledge for success of Dubai’s COP28 event

    The UAE and India vowed to make this year's COP28 conference in Dubai a success, as Indian Prime Minister Narendra Modi paid a visit to the Gulf state. The oil-rich UAE will host the COP28 UN climate talks in November and December, as nations are still far on means to...
  • Almost the entire world is experiencing record heatwaves

    Record heat is forecast around the world from the United States, where tens of millions are battling dangerously high temperatures, to Europe and Japan, in the latest example of the threat from global warming. The heatwaves come after EU's climate monitoring service said the world saw its hottest June on...
  • Air pollution concerns on rise in Arab world: Report

    Recent global data indicates an alarming rate of pollution in several Arab countries, with Lebanon, Egypt, and Saudi Arabia among the top most polluted nations. The problem extends throughout the Middle East, as evidenced by high rankings for Iran and Turkey as well. Despite environmental initiatives and efforts towards sustainability,...
  • Sweltering heat leaves Gulf residents at risk during noon

    DUBAI, UAE- As much of the world swelters in record temperatures, spare a thought for Issam Genedi, who ekes out a living washing cars in one of the planet's hottest regions, the Gulf. Pausing from his work at an outdoor carpark in Dubai, the Egyptian migrant says the UAE's furnace-like summer...
  • COP host UAE vows to cut more emissions in latest plan

    The oil-rich Gulf monarchy, which will host this year's COP28 UN climate talks, last week unveiled plans to cut domestic emissions by 19 percent of 2019 levels by 2030. Under these plans, the UAE would contribute to keeping warming to "just below" 2.0 degrees Celsius above pre-industrial levels, the UAE's...
  • KEZAD Group, GFCF ink deal

    GFCF will triple its production after setting up its Phase II in Musasafah.