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Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme

Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.
  • COP hosts UAE, Azerbaijan, Brazil pledge stronger climate action

    Paris, France--Past and future hosts of the UN climate negotiations the United Arab Emirates, Azerbaijan and Brazil announced Wednesday they would cut their own emissions in line with limiting global warming to 1.5 degrees Celsius. Nations have been under pressure to keep this warming limit alive by pledging to accelerate their...
  • Green hydrogen production in UAE to touch 5.7m tonnes in 2030

    Innovative technologies to produce green hydrogen using clean and renewable energy are witnessing rapid developments and studies indicate that green hydrogen production will increase by 57 percent annually to reach 5.7 million tonnes in 2030.
  • Norway preps burial ground for CO2

    As the planet struggles to meet its climate targets, some climate experts see the technique, called carbon capture and storage, as a means to reduce emissions from fossil-fuel-based industries.
  • Work begins on world’s first model of green steam cracking unit

    Riyadh, Saudi Arabia--SABIC, BASF and Linde have begun work on the construction of the world's first model of an electrically heated steam cracking unit. The new technology relies on the use of electricity from renewable sources instead of natural gas, which can reduce carbon dioxide emissions from one of the...
  • Goal: A just energy transition that’s equitable to all

    It must be based on scientific, economic, and engineering facts, appreciate the multiple dilemmas and challenging trade-offs, and accelerate the deployment of practical solutions. For that, we need an inclusive approach that leverages the experience of all sectors of society, he added in a writeup for Project Syndicate.
  • ADDED, EWEC sign MoU to improve sustainability, clean energy adoption

    The Emirates Water and Electricity Company (EWEC) and the Abu Dhabi Department of Economic Development (ADDED) today signed a Memorandum of Understanding (MoU) aimed at improving sustainability best practices and encouraging the adoption of Clean Energy Certificates (CECs) across the emirate’s industrial sector. EWEC will collaborate with ADDED through the...
  • Condor orders 41 jets

    The airline is buying aircraft using less fuel.
  • SirajPower, Cleanco sign agreement

    SirajPower will develop a fully financed 2 MVA solar-diesel-battery.
  • Tesla Model 3 joins Dubai corporation’s taxi fleet on trial basis

    Tesla Model 3 has joined Dubai Taxi Corporation's fleet on trial basis, following the success of operating 172 Tesla vehicles in the limousine service since 2017. The trial operation aims to verify the efficiency of the vehicle when deployed on the taxi fleet in the emirate, Dubai’s Roads and Transport...
  • EU to stop combustion engine sales by 2035 in Europe

    The European Union approved a plan to end the sale of vehicles with combustion engines by 2035 in Europe, the 27-member bloc announced early Wednesday, in a bid to reduce CO2 emissions to zero.
  • Time to deliver decarbonization targets set last year

    In the Middle East, the UAE and Saudi Arabia have been leading the decarbonization conversation with pivotal government initiatives that encourage businesses to reduce their carbon footprint. Now, 2022 and beyond will be about delivering on and monetizing those ambitions despite all the challenges, he adds.
  • Climate change fight a priority for COP 28 host

    From making solar energy available at 1.35 cents per kilowatt hour to building three of the world's largest solar parks, the Emirates has taken a lead in the fight against climate change.
  • Egypt, European Union review cooperation on climate and energy challenges

    Egypt and the European Union have reviewed and discussed enhanced cooperation on climate, energy and industrial transformation challenges ahead of COP27 in Egypt later this year. On Wednesday, on the occasion of the visit of European Commission President Ursula von der Leyen and her meeting with Egyptian President Abdel Fattah El...
  • Flood of net zero vows suffer ‘credibility gap’: report

    While countries, cities and companies have massively ramped up net-zero emissions promises in recent months there remain "major flaws" in many plans, according to an analysis published Monday that raises fears of potential large-scale greenwashing by businesses. Faced with mounting urgency and public pressure as deadly and costly climate impacts...
  • Cut airline emissions to meet Paris targets: report

    The world needs "early, aggressive and sustained" government intervention to cut aviation emissions if Paris Agreement temperature goals are to be met, a think tank said Thursday. The 2015 Paris climate treaty enjoins nations to cap global warming at "well below" two degrees Celsius, and 1.5C if possible.
  • DP World to run Southampton terminal on vegetable oil

    DP World's Southampton container terminal will now be run on vegetable oil instead of the usual diesel fuel to scale down carbon emissions.
  • dnata to invest $100m in green ops

    dnata, global air and travel services provider, announced that it would invest $100 million in green operations in the next two years to further enhance environmental efficiency across its global network. The company’s ongoing investment in infrastructure, equipment and process improvement will support it to achieve its strategic objectives and...
  • Digital technologies can cut greenhouse gas emissions: WEF

    Digital technologies can reduce greenhouse gas emissions by up to 20% by 2050 in the three highest-emitting sectors: energy, mobility and materials, according to a study by the World Economic Forum and Accenture.
  • Global ESG assets could reach $50 trillion by 2025 : PIF Governor

    Global environmental, social, and governance assets are expected to hit $41 trillion by the end of this year, and $50 trillion by 2025, Yasir Al-Rumayyan, governor of the Saudi sovereign fund said. The growth in assets is due to the fact that Public Investment Fund continues to enhance ESG integration...
  • IEA calls on G7 to be ‘first movers’ in lowering CO2 emissions

    The International Energy Agency (IEA) has said that G7 economies are well placed to be first movers on driving down carbon dioxide emissions from heavy industry.
  • Coal still the fossil fuel most responsible for global warming: Report

    The number of coal-fired power plants in the pipeline worldwide declined in 2021, according to research released Tuesday, but the fossil fuel most responsible for global warming still generated record CO2 emissions, threatening Paris climate goals. Since the 195-nation treaty was inked in 2015, coal power capacity under construction or...
  • Abu Dhabi to trade carbon credits like assets

    Carbon credits can be traded on legal carbon markets, such as the Emissions Trading System of the European Union. They can also be generated and traded on voluntary carbon markets worldwide, with examples developed in Singapore, Sydney, New York, and London.
  • EGA, Ma’aden tech cooperation

    The two will explore potential collaboration in the aluminum value chain.
  • World’s fossil fuel assets risk evaporating in climate fight

    Oil platforms, pipelines, coal power plants and other fossil fuel assets could lose trillions of dollars in the battle against climate change in the coming decades, experts say. The warning was issued in a 3,000-page report by UN experts who said fossil fuel assets must be retired and replaced with...
  • Qatar signs Global Methane Pledge, to lower emissions by 30 percent

    Rapidly reducing methane emissions is the most effective strategy to limit global warming in the near term and keep 1.5 degrees Celsius within reach.
  • Dubai saves 329MW of electricity during Earth Hour 2022

    Dubai Electricity and Water Authority (DEWA) said about 329 megawatts (MW) of electricity were saved in the emirate during Earth Hour 2022, equivalent to a reduction of 132 tons of carbon dioxide emissions. These savings are 13 percent higher than the 291 megawatts savings recorded during Earth Hour 2021. This...
  • AMEA Power awarded $100m

    Under the agreement, a 100MW solar plant will be built in Tunisia.
  • On land and sea, climate change causing ‘irreversible’ losses: UN

    Climate change has already caused "irreversible losses" for Nature, UN experts have said, warning that if emissions are not cut quickly, warming could trigger chain reactions with potentially catastrophic effects for all species, including humans. All forms of life on Earth are linked together by a vast web of causes...
  • India sets an ambitious goal to be a hub for green hydrogen

    India has unveiled the first part of a drive to attempt to turn the world's third-largest emitter of greenhouse gases into a "hub" for green hydrogen.
  • Dubai Metro cuts emissions by 2.6m tons, yields $31bn in benefits

    Dubai Metro has eliminated about 1 billion private-vehicle journeys, yielded monetary benefits worth AED115 billion and reduced carbon dioxide emissions by 2.6 million tons from Sept 2009 to the end of 2020, said Mattar Mohammed Al Tayer, Chairman of the Board of Executive Directors of the Roads and Transport Authority...
  • Abu Dhabi’s Blue Carbon Project to check emissions, climate change: EAD

    Abu Dhabi's Blue Carbon Project is a promising initiative to prevent increased carbon emissions caused by the destruction of ecosystems, which ultimately leads to climate change, said a top official of the Environment Agency Abu Dhabi (AED). Dr Shaikha Salem Al Dhaheri, Secretary-General of the EAD, said Blue Carbon refers...
  • EGA to decarbonize its GE gas turbines for achieving UAE’s net-zero goal

    Emirates Global Aluminium (EGA) and GE Gas Power have signed an agreement to reduce greenhouse gas emissions from EGA’s existing GE natural gas turbines. The decarbonization roadmap will include exploring options for replacing natural gas with hydrogen and hydrogen-blended fuels for combustion in EGA’s GE turbines, as well as integrating...
  • RAF claims world first flight using synthetic oil

    Group Captain Peter Hackett completed a short flight in an Ikarus C42 microlight aircraft at an airfield in Gloucestershire, western England, earlier this month.
  • Luxury brands burning products is a problem

    High fashion can be detrimental to the environment because of its large carbon footprint.
  • ADNOC to invest $6 billion more in drilling to ramp up production

    Abu Dhabi's national oil company announced Tuesday a $6 billion investment in crude oil drilling as it ramps up production capacity. The announcement comes a day after the United Arab Emirates (UAE) said a recent UN climate summit in Glasgow was a "success" but that the world needs to keep...
  • Scientists appeal for immediate climate action at COP26

    More than 200 scientists told the COP26 summit Thursday to take immediate action to halt global warming, warning in an open letter that some climate change impacts were "irreversible" for generations. The central task of the Glasgow meeting is to implement the Paris Agreement, with its goal of limiting temperature...
  • COP26 draft urges boost to emissions cutting goals by 2022

    The text called for nations to "revisit and strengthen" their decarbonisation plans by next year and said that limiting heating to 1.5C "requires meaningful and effective action by all parties in this critical decade".
  • Standard Chartered starts sustainable account in UAE, Aldar first to open it

    Abu Dhabi-based developer Aldar Properties became the first corporate in the UAE to open a sustainable bank account started by Standard Chartered in the emirates for large corporates. The bank has said that deposits in the accounts are used to fund sustainable projects based on its Green and Sustainable Product...
  • Big gap between COP26 words and climate action

    Finance is a crunch issue at the summit, with developing nations demanding rich emitters make good on decade-old promises to provide $100 billion a year to help them cope.
  • World food prices rise highest in a decade: FAO

    The UN barometer of world food prices has surged to a new peak, reaching its highest level since July 2011, the UN Food and Agriculture Organization (FAO) announced. The FAO Food Price Index, which tracks the international prices of a basket of food commodities, is up 3.9 percent from September,...
  • UN calls for more climate adaptation cash from COP26

    Climate adaptation means adjusting to the current effects of climate change and preparing for its predicted impacts in the future.
  • Greenhouse gas levels reach new record high: UN

    The UN's blunt report comes as British Prime Minister Boris Johnson, the COP26 host, said he was "very worried" that the 12-day climate talks could go awry.
  • OECD nations to ban export credits for coal power

    With the latest international climate conference just days away, the proposed ban will halt support to new coal power stations that don't have systems that trap the carbon emissions responsible for global warming.
  • ACWA Power plans to stop investing in non-renewable projects: CEO

    ACWA Power has said it plans to end investment in non-renewable projects in its endeavor to reach net zero by 2050. Riyadh-based ACWA, the only listed company with big renewable energy and hydrogen projects in the pipeline, is 44 percent owned by Saudi Arabia's sovereign wealth fund PIF CEO of...
  • World’s clean energy transition ‘too slow’: IEA

    Not enough investment is being pumped into meeting future energy needs and the uncertainties are setting the stage for a volatile period ahead, says IEA chief Fatih Birol.
  • Aramex vows to cut emissions

    It has signed a deal with the Science Based Target initiative.
  • UN official lauds UAE for resolve to cut carbon emissions to zero by 2050

     The United Arab Emirates will aim to achieve net-zero emissions by 2050, a plan commensurate with the country’s 2050 Strategic Initiative. It will make the UAE the first country in the whole of MENA region to take such action.
  • UAE announces Net Zero by 2050 strategic initiative

    The national drive aims to achieve net-zero emissions by 2050, making the UAE the first MENA to do so.
  • Google lets users factor climate change into life

    New features unveiled on Wednesday provide users with ways to help in the effort, whether it be driving routes that result in less exhaust being spewed from cars or shopping online for energy-efficient appliances. The latest features will be rolled out in Europe in 2022.
  • World on path to 2.7C warming, warns UN chief

    Instead of the reductions needed to avoid the worst effects of climate change, global emission are likely to see "a considerable increase" in the years to come.
  • Social cost of 2019’s plastic more than GDP of India

    There is increasing international alarm over the sheer volumes of fossil-fuel based plastics entering the environment, as microplastics have infiltrated even the most remote regions of the planet. Tiny fragments have been discovered inside fish in the deepest recesses of the ocean and peppering Arctic sea ice.