Dubai, UAE--The Arab Centre for the Studies of Arid Zones and Dry Lands (ACSAD) will partner with the UAE's Ministry of Climate Change and Environment (MOCCAE) to realise the country's vision of reaching zero neutrality by 2050, according to a senior official of the Damascus-based centre.“As an Arab organisation mandated...

In a country gripped by the most severe financial crisis in its recent history-- inflation has hovered near 40% after the currency lost half its value-- the economy is the crux of Egyptians' concerns. Even before the crisis, about two-thirds of the country's nearly 106m people were living on or...

They will explore to advance the use of nuclear energy.

Dubai, UAE--The head of OPEC has urged members of the oil cartel to reject any deal at UN climate talks in Dubai that "targets" fossil fuels instead of emissions, according to a letter seen Friday by AFP.In the letter sent Wednesday, OPEC Secretary General Haitham Al Ghais said he was...

Manama, Bahrain-- Bahrain and Germany have held discussions to boost ties in the health field as the two countries seek to deepen overall ties.In this connection, Lieutenant-General Dr. Shaikh Mohammed bin Abdulla Al Khalifa, Chairman of the Supreme Council for Health (SCH), met, in the presence of Dr. Jaleela bint...

The EU's internal market commissioner, Thierry Breton. called the deal as historic, regulating artificial intelligence models such as ChatGPT. Negotiators in Brussels nailed down curbs on how AI can be used in Europe, which they said would not hurt innovation in the sector nor the prospects for future European AI...

Riyadh, Saudi Arabia--The General Civil Aviation Authority (GCAA) of the UAE signed two memorandums of understanding (MoUs) with Brazil and Switzerland to strengthen cooperation in the field of air transportation with Brazil and Switzerland.The agreements were signed on the sidelines of the UAE delegation's participation in the fifteenth ICAO Air...

DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according to Knight Frank's latest report: Dubai & Abu Dhabi Industrial Markets Review, Q3, 2023.According to Knight Frank, demand is outstripping supply and occupiers are faced with the prospect of leasing...

Beijing, China - President Xi Jinping said that China's economic recovery is at a "critical stage", state broadcaster CCTV reported Friday, as sluggish domestic activity and property sector woes drag on a post-pandemic rebound."At present, the country's economic recovery is still at a critical stage," Xi said at a meeting of...

From Sunday through Tuesday, Egyptians aged 18 and above will be able to cast their ballots for one of four candidates -- former army chief Sisi, in power since he deposed elected Islamist president Mohamed Morsi in 2013, and three other relative unknowns.

Tehran, Iran--Trade between Iran and Russia has climbed 18 percent to US$1.7 billion in the first eight months of 2023.This was stated by the chairman of the Iranian Customs Administration Mohammad Rezvani, noting that the Iran Iran-Russia trade recorded $1.7 billion in the first eight months of this year of...

Abu Dhabi, UAE--Egyptian Petroleum Minister Tarek el Molla announced an agreement on laying down a detailed road map for cutting methane emissions of the petroleum and gas sector in Egypt via the offered technical support.According to the Middle East News Agency (MENA), the agreement is scheduled to be signed by...

Riyadh, Saudi Arabia - Saudi Arabia has rolled out a 30-year tax relief program aiming to lure multinational corporations to establish their regional headquarters within the Kingdom. The Ministry of Investment of Saudi Arabia (MISA), in collaboration with the Ministry of Finance and the Zakat, Tax, and Customs Authority (ZATCA),...

It wants to build a supply chain between UAE and Amsterdam.

Volkswagen has some 675,800 employees worldwide.

The impairment charge sent BAT shares sinking 7.6 percent.

The announcement comes one year after the Gulf kingdom, the world's biggest crude exporter and the Middle East's largest economy, recorded its first budget surplus in nearly a decade in the wake of Russia's invasion of Ukraine which led to a boom in oil prices.

Dubai, UAE-- Since its launch two years ago, the First Movers Coalition (FMC) has become the world's largest private sector demand signal for emerging climate technologies. Its members have moved from commitment to action: signing offtake agreements, driving demand for low carbon products to global decarbonization initiatives, and collaborating with...

Sixty-nine million children live in poverty in the world's 40 richest countries, UNICEF said in a report, blasting Britain and France for their particularly bad standings. That's despite a drop in child poverty rates by around 8 percent in the 40 European Union and Organization for Economic Cooperation and Development...

Dubai, UAE--The Arab Coordination Group (ACG), a strategic alliance comprising regional and international development institutions, announced at COP28 an allocation of US$10 billion until 2030. This funding is meant to drive a comprehensive and affordable transition to renewable energy in developing countries. The commitment is an integral part of a...

They will advance solutions in financial decarbonization.

Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Manager's Index (PMI), formerly S&P Global Saudi Arabia PMI, fell to 57.5 points in November 2023.The index indicated a significant improvement in the Saudi non-oil private sector but attributed the decline in the main index to a lower rate...

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...

Abu Dhabi, UAE--ADQ and Qazaqstan Investment Corporation have established a co-investment platform focused on high-growth sectors such as food and agriculture, mobility, healthcare, energy transformation and clean technology, financial services technology, and education technology.The platform aims to explore and leverage investment opportunities in Kazakhstan as well as other countries in...

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 discussed the...

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.Traders have...

The latest batch of data show higher borrowing costs starting to slow down consumption -- a key goal of the central bank. Turkey's gross domestic product rose by just 0.3 percent between July and September. It had risen by 3.3 between April and June.

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 and...

Chinese Vice Premier Ding Xuexiang said his country has promoted the targets for carbon peak and carbon neutrality, adding that while fulfilling its international obligations, China has made efforts to help other developing countries cope with climate change. He made the comments while addressing the G77 on the sidelines of...

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 President...

According to a new report from Net Zero Tracker, at least 150 countries have committed to a net-zero emissions target of some kind. But the climate monitor said only 13 percent of those countries have made at least one commitment to phase out the use, production or exploration of coal,...

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 Change...

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 and...

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 signed...

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 agreement...

Dubai, UAE--The UK government has ordered a formal probe into the proposed sale of the Telegraph Media Group to an Abu Dhabi-backed investment fund.The investment fund, RedBird IMI, disclosed earlier this month that it was set to take control of The Daily and Sunday Telegraph sister newspapers and The Spectator...

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 country...

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 International...

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...

The bank, according to a statement, "is putting to work more than $40 billion", around $9 billion more than previously programmed. In 2021, the bank announced a goal to reach an average of 35 percent by 2025 and is currently ahead of schedule, running at an average of 36.3 percent...

SAN FRANCISCO, US - Microsoft, the tech titan that has invested billions of dollars in ChatGPT creator OpenAI, has been given a seat on the startup's board.The nomination was shared in a memo to OpenAI staff on Wednesday that was later posted to the company's blog and included a list of...

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 reasons cited...

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 tackling...

Saudi Arabia will extend its voluntary cut of 1 million barrels per day. The latest Saudi cut is in addition to the voluntary cut of 500,000 barrels a day previously announced by the Kingdom in April 2023, which extends until the end of December 2024.

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 from...

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 UAE...

It received more than US$41 billion in investor orders.

It will pour US$3.4bn into the new venture this decade.

The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields particularly in the economic, investment, developmental, renewable energy, and sustainability sectors, aiming to broaden their scope to fulfil the aspirations of both nations for development and prosperity.

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...