Brussels, Belgium - European Parliament has adopted a new voluntary standard for the use of a “European Green Bond” label, the first of its kind in the world.The regulation, adopted by 418 votes in favour, 79 against and 72 abstentions, lays down uniform standards for issuers who wish to use the...

Bishkek, Kyrgyzstan--The UAE and Kyrgyzstan have discussed mechanisms to enhance joint cooperation in various fields, especially renewable energy, transportation, and logistics services in a meeting between Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure and Sadyr Japarov, President of the Kyrgyz Republic.The minister led a high-level UAE delegation...

"This is the largest trilateral energy project" between the three ex-Soviet countries, Putin said, after formally launching the shipment. He was hosting a meeting in Moscow with his Uzbek and Kazakh counterparts, Shavkat Mirziyoyev and Kassym-Jomart Tokayev.

DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering the seamless operation of e-commerce activities.It also aims at solidifying Dubai's position as a global e-commerce epicenter, aligning with the strategic objectives of the Emirate’s economic agenda.The meeting was attended...

ROME, ITALY - The Food and Agriculture Organization of the United Nations (FAO) raised its forecast for global cereal production in 2023 to 2,819 million tonnes, now 0.9 percent higher than the previous year.The higher forecast is almost entirely based on recent and more positive yield estimates for the Russian...

Dubai, UAE-- Terming the circular economy as a critical pathway that builds a sustainable future by preserving natural resources, reducing waste, and promoting the conservation of resources at source, Mariam bint Mohammed Almheiri, Minister of Climate Change & Environment, emphasized that it not only promotes environmental sustainability but also presents...

Abu Dhabi, UAE--UAE President Sheikh Mohamed bin Zayed discussed how to deepen strategic alliance with the US in a meeting with US Senator Joni Ernst of Iowa in Abu Dhabi on Friday. During the meeting at Qasr Al Shati, the two sides exchanged views on a number of regional and...

DUBAI, UAE -  A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during the week ending October 6, 2023, according to figures released by the Dubai Land Department (DLD).The DLD report showed that 248 plots were sold for US$476 million ( AED 1.75...

TABUK, SAUDI ARABIA - The Tabuk region's agricultural sector is making steady progress towards achieving the goals of Saudi Arabia's Vision 2030. Tabuk region annually produces over 28 million flowers, including 17 varieties of roses.These flowers have a market value of over SAR32 million, making the region a leader in...

Dubai, UAE -- The economies of Gulf Cooperation Council (GCC) countries are expected to grow by 1 percent in 2023, down from 7.3 percent in 2022, according to the World Bank.In its recent report, the bank said the Gulf economies combined will grow by 3.6 percent in the year 2024....

RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk carrier IANTHE last month, making it the first ever shipment of the oil byproduct from the Yanbu-based hub.The South Africa bound cargo also marks the resumption of bitumen exports by...

Geneva, Switzerland - Global trade growth will be sharply lower than forecast this year as stubborn inflation, high interest rates and the war in Ukraine pressure economies around the globe, the World Trade Organization said on Thursday.Strains in China's vast property market also prompted the WTO to cut its trade growth...

The Green Climate Fund (GCF) was set up as part of the landmark 2015 Paris Agreement to funnel grants and loans to developing countries for adaptation and mitigation projects in a warming world. The fund plays a part in the promise by rich countries to supply $100bn of climate finance...

Riyadh, Saudi Arabia--The Heritage Commission and the German Max Planck Institute (MPI) of Geoanthropology in the Green Arabia Project revealed one of the most significant sites of the prehistoric period near Jabal Irf in Hail region. The scientific team that participated in the project—including researchers and specialists from the Kingdom,...

Abu Dhabi, UAE-- The Arab Development Establishment (ARDECO) has revealed that it is in talks with several international companies in the oil and gas sector to establish joint ventures boosting Abu Dhabi's industrial base.Yousef Al Nowais, CEO of the Arab Development Establishment (ARDECO), said the joint ventures will help support...

It will join the UAE's FDI program to expand footprint.

The two free zones will collaborate to grow businesses.

Brasilia, Brazil-- The UAE and Brazil have explored opportunities to develop cooperation in trade, energy and climate issues in a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs of the UAE, and Mauro Vieira, Minister of Foreign Affairs of Brazil, in the capital, Brasilia.The meeting, which...

Dubai, UAE - Vice President and Prime Minister of the United Arab Emirates Sheikh Mohammed bin Rashid Al Maktoum has issued decree for the formation of the Board of Directors of the Investment Corporation of Dubai (ICD), chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of...

Amman, Jordan-- Jordan has taken measures to hedge against the impact of international crises on food security and lower its impact on families, local communities and the national economy of the kingdom.This was revealed by the kingdom's Minister of Agriculture Khaled Hneifat while speaking the 6th General Assembly meetings of...

They will conduct a study to build a direct air-capture facility.

Shortly after her dismissal by the internationally recognized government in Tripoli, Amel Jerary, whose detention was ordered by the country's prosecutor general over alleged corruption, was questioned about "administrative and financial abuses" allegedly used to "obtain illicit material advantages by illegally seizing public funds".

Abu Dhabi, UAE-- Kazakhstan's BSG Technology is looking to expand its operations into the Middle East, and begin operations in the UAE next year.According to Serik Baimukhanbetov, Deputy Director for Business Development of BSG Technology, the company expects to launch its operations in the UAE market in 2024 and has...

Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to renewable energy as the world looks to combat climate change, the International Monetary Fund said on Tuesday.The fractures have led to a doubling in new trade restrictions on commodities since...

ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC carbon capture unit at Fertiglobe’s 100 percent owned nitrogen fertilizer plant in the Al Ruwais Industrial Complex here.Fertiglobe was formed as a strategic partnership between ADNOC and OCI Global.The CycloneCC...

Evergrande estimated it had debts of $328 billion at the end of June.

JAZAN, SAUDI ARABIA - The Jazan City for Primary and Downstream Industries has marked a significant milestone with the departure of its inaugural ship, bound for New Orleans, US.This vessel is laden with 37,000 tons of iron steel foundry product (Pig iron), representing the first-ever production of this commodity within...

The aim is to advance insurance services in the Kingdom.

Nearly US$615m will be paid to build carbon-capture units.

The data suggest that Turkey's inflation rate is starting to peak after Erdogan signed off on a series of sharp interest rate hikes that have taken the policy rate to 30 percent from 8.5 percent in four months. "The small (by Turkey's recent standards) rise in inflation to 61.5 percent...

Abu Dhabi, UAE-- The UAE will produce 19.8 gigawatts of clean energy by 2030, Suhail bin Mohamed Al Mazrouei, Minister of Energy and Infrastructure, told a global audience of energy leaders at opening of ADIPEC 2023, which convened today under the theme of ‘Decarbonising. Faster. Together.’Speaking at ADIPEC’s ministerial panel...

Algeria's president has named Rachid Hachichi as new CEO.

Abu Dhabi, UAE--Abu Dhabi Oil Company (ADOC) is planning more investments and expansions in the UAE, according to a senior company official.Takahiko Shingai, Deputy General Manager and Director of Development Department at ADOC, told the Emirates News Agency (WAM) on the sidelines of the ADIPEC 2023 exhibition and conference that:’’...

President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told an oil conference that the fossil fuel industry would play an essential role in addressing the crisis. "This industry has been viewed as part of the problem, that it's not...

Statistical estimates published by the Statistical Centre Abu Dhabi said the construction sector grew by 19.1 percent in the second quarter and contributed 8.8 percent to the UAE capital's GDP during the quarter.

Tehran, Iran-- Iran's foreign trade has registered a 4.84 percent jump to $54.6 billion between March and September this year.According to the head of the Iranian customs office (IRICA) Mohammad Rezvanifar, 68 million tons of non-oil goods, valued at $24.1 billion, were exported overseas from March 21 to September 22,...

Tehran, Iran--Iraq and Iran have reviewed the implementation of the security agreement in a meeting between the secretary of Iran's Supreme National Security Council (SNSC) and Iraq's national security adviser.Iraq's National security adviser Qasim al-Araji, who arrived in Tehran on Sunday morning, met and held talks with General Ali-Akbar Ahmadian the...

Donald Trump intends to be present for the start of the trial on Monday morning as a civil fraud trial against the former president and two of his sons begins in New York, threatening the Republican frontrunner's business empire as he campaigns to retake the White House with four criminal...

The Gulf kingdom, the world's biggest crude exporter, had planned for a surplus of 16 billion Saudi riyals ($4.27 billion) in 2023 but now predicts a deficit of 82 billion Saudi riyals ($21.86 billion), or two percent of GDP, according to the ministry's pre-budget statement. A deficit of 79 billion...

Tripoli, Libya--Libya and Italy have signed an agreement to enhance cooperation to enable air transport companies to operate charter and regular flights between the two countries.In this regard, the Libyan Civil Aviation Authority and the Italian civil aviation authority signed a memorandum of understanding (MoU) at the Ministry of Transportation...

RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia signed a memorandum of understanding (MoU) with Pakistan here on Sunday to expand bilateral cooperation in communications and information technology by accelerating digital transformation, promoting innovation and developing digital infrastructure.Saudi Arabia’s Minister of Communications and Information Technology Eng. Abdullah Alswaha and...

MOSCOW, RUSSIA – A senior Russian official said that they intend to move towards visa-free travel with all countries of Latin America.Director of the Russian Foreign Ministry’s Latin American Department Alexander Shchetinin said that this is an achievable goal.Shchetinin told TASS about the to move towards visa-free travel on the...

The sports car maker posted gains one year after its IPO.

The government has capped property rent increases at 25 percent for households, and aligned them with the official inflation rate for businesses. But experts say the measures have only heightened tensions, prompting many landlords to use any means -- including illegal ones -- to evict tenants and find new ones...

Bridgetown, Barbados-- The UAE and Barbados have discussed prospects for bolstering bilateral cooperation, particularly in climate action and renewable energy, besides looking to boost economic and trade ties between the two countries.The subject was discussed in a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and...

Three hours before the deadline, the Senate voted to keep the lights on through mid-November with a resolution that had advanced earlier from the House of Representatives. The last-ditch "continuing resolution" was pitched by House Speaker Kevin McCarthy as millions of public workers looked set to be sent home unpaid.

Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in the global 2023 Monaco Yacht Show, to put the Old Doha Port on the global map.Executive Director of the Old Doha Port, Mohammed Abdullah Al Mulla, pointed out that the...

The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is based on the government's fiscal objectives to expand strategic spending at the sectoral and regional levels, broaden and diversify the economic base, as well as improve public services, among others.

Beijing, China - China on Saturday accused the United States of being an "empire of lies", hitting back after a State Department report claimed Beijing spends billions of dollars to spread disinformation globally.The report, released on Thursday by the US State Department's Global Engagement Center, accused China of financing propaganda, disinformation...

PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations conference on Saturday as part of a drive to manage damaging chemical exposure.The Global Framework on Chemicals was adopted by governments, companies, and NGOs at the fifth International Conference on...