"This declaration is the moment when food truly comes of age in the climate process, sending a powerful signal to the nations of the world that we can only keep the 1.5 degree goal in sight if we act fast," said the group's CEO Ani Dasgupta.

Among the host country's guests are Bill Gates and Antoine Arnault, the son of LVMH boss Bernard Arnault, the second richest man in the world after Elon Musk, according to Forbes magazine.

The company will offer 1.11bn shares at AED3.26 per share.

In a groundbreaking announcement at the World Climate Action Summit during the UN Climate Change Conference (COP28), UAE President Sheikh Mohamed bin Zayed Al Nahyan unveiled a $30 billion fund dedicated to global climate solutions. He said UAE has plans to invest $130 billion over the next seven years to...

ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first financial services empowered by artificial intelligence (AI) in 2024.In statements to the Emirates News Agency (WAM) on the sidelines of the Abu Dhabi Financial Week (ADFW), Abu-Sheikh said that Astra...

Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but a less visible lineup of powerful state companies dominates the industry. They will all share the limelight at the UN climate talks that opened Thursday in Dubai, as COP28 president...

Dubai, UAE - The Green Zone at the COP28, overseen and managed by the conference presidency team, serves as a central hub for climate-related activities, enriching the experience for visitors to the world's premier climate event hosted by the UAE.It facilitates constructive dialogues on climate action, welcoming participants from governmental...

Abu Dhabi, UAE - The UAE and Philippines signed an agreement to create a framework for investment in the digital infrastructure sector, with a special focus on data centers. As physical facilities that organizations use to store critical data and run applications, data centers are vital parts of the digital...

The spotlight now turns to more than 140 kings, presidents and prime ministers who will address delegates at the sprawling Expo City Dubai complex on Friday and Saturday. Britain's King Charles III will kick off those addresses, followed by leaders from nations including the likes of Brazil, Kenya, Tonga and...

“COP28 is attracting significant interest from various participating countries and will serve as an important forum for climate enthusiasts. This reflects the commitment of people who are eager to enact change and preserve the planet by taking serious steps towards a better future,” President Whipps adds.

In the heart of the GCC, a transformative shift towards 'Green Mobility' is underway, driven by a commitment to environmental sustainability and reducing carbon footprints.

Dubai, UAE – Indian spiritual leader Sadhguru will address the first-ever Faith Pavilion at COP28 on Friday December 1, kicking off a programme of over 70 sessions on interfaith cooperation on climate action.Head of the Isha Foundation and founder of the Save Soil movement will present his vision on the...

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...

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...

Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi is positioned as one of the globe's fastest-growing financial hubs between West and East Asia.Speaking to the Emirates News Agency (WAM) during Abu Dhabi Finance Week, El Solh underscored Abu...

DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total value of US$107 million (AED394,586,000), in cooperation with 18 banks and financial institutions in the country.The initiative follows the directives of President Sheikh Mohamed bin Zayed Al Nahyan and Sheikh...

Dubai, UAE--Rising sea levels, vanishing Arctic landscapes, fading coral reefs, acidic oceans, and raging forest fires are common occurrences today. Climate change is escalating its aggressive posture before a full scale assault on humanity. A new study found that it costs the world $16.3 million per hour. On November 17,...

Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations and poised to hit $4 trillion by 2026.

With nations' actions falling far short of the Paris Agreement's most ambitious target of limiting global warming to 1.5 degrees Celsius, some countries have called for the COP28 final statement, which requires unanimous agreement, to explicitly call for a reduction in fossil fuel consumption.

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.

COP28 UAE provides a crucial chance to reevaluate and intensify efforts, as experts urge pragmatic energy transition strategies to meet the 2030 emissions reduction target.

Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump it into rock -- part of controversial attempts to target planet-heating emissions without abandoning fossil fuels.Using novel technology developed by Omani start-up 44.01, the solar-powered plant will suck carbon dioxide...

DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group in London, the UAE delegation has displayed the country’s contributions to the sector that have influenced the industry globally.Boasting a rich maritime history and a coastline of 1650 kilometers, the...

Abu Dhabi, UAE -- First Abu Dhabi Bank (FAB) became the first MENA bank to publish a Task Force for Climate-Related Financial Disclosures (TCFD) aligned climate report.The TCFD standard, promoted by the Financial Stability Board since 2015, urges entities to specify the resilience of their strategies to climate-related risks (physical...

Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) and the People’s Bank of China today signed an agreement to renew the currency swap between the UAE and China and a memorandum of understanding (MoU) to enhance technical and technological cooperation in the development of central bank digital currencies.The signings...

Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial sectors, expected toward the end of 2024.It was revealed by Bassel Al Khawaja, Advisory Head at Abu Dhabi IPO Fund (ADIPOF) on the sidelines of the 2nd day of the...

Abu Dhabi, UAE - The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion into Pakistan's struggling economy, according to media reports. The agreements, covering diverse sectors like energy, ports, food security, and finance, were signed after a meeting between caretaker Prime Minister Anwaarul...

Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the UAE, and robust economic indicators.

DUBAI, UAE: Governments and the United Nations should create an internationally adopted framework specifically designed to help solve global challenges, a world-leading futurist on Tuesday told the Dubai Future Forum 2023 here.Dr. Jamie Metzl, founder of ‘OneShared.World’ and author of Hacking Darwin, said the world is struggling to address its...

Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the total 2023 GDP of the developing world, in the last 30 years, the report said. The authors specify that losses are "conservative estimates" because the analysis does not account for...

"The country's strategies, such as the Energy Strategy 2050, aims at raising the share of clean energy in the total energy mix from 25% to 50% by 2050 and cut carbon emissions from power generation by 70%. The Dubai Clean Energy Strategy 2050 will meet 75% of its energy needs...

ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023 auction for Clean Energy Certificates (CECs) here, with registration now open and the auction closing on December 14 2023.Introduced by the Abu Dhabi Department of Energy (DoE), CECs are currently...

Abu Dhabi, UAE -- The financial sector in the UAE has experienced a surge of 30 percent in the second quarter of this year. Forecasts predict a continued upward trajectory, with an expected annual growth rate of 13 percent in 2023, according to a senior economic official.Addressing attendees at the...

As global temperatures tick higher, with this year on course to be the hottest on record, the UAE is changing its building designs and urban planning to create cooler living environments, even outdoors, Almheiri said.

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 Renewable...

Abu Dhabi, UAE-- The world's top heads of multinational companies, policy-makers, and investors will gather in Abu Dhabi today to take part in the three-day long "the Fortune Global Forum" to discuss major challenges faced by the global economy.Organised by the Abu Dhabi Department of Economic Development (ADDED), the Fortune...

Billions of dollars are being invested into ventures to grow food in the GCC to make the arid, hot region self-sufficient, in a sector vulnerable to the vagaries of war, climate and disease.

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 of...

Paris, France - The president of a pivotal UN climate summit defended on Saturday the large presence of industry representatives at the negotiations, saying private sector engagement was essential to curb global heating."Everyone needs to be part of this process and everyone needs to be held responsible and everyone needs to...

An Israeli-owned cargo ship was damaged in a suspected drone attack by Iran's Islamic Revolutionary Guard Corps in the Indian Ocean, a US defense official said. "We are aware of reports that there was a suspected IRGC-initiated Shahed-136 UAV (that) struck a civilian motor vessel in the Indian Ocean," the...

Jakarta, Indonesia - The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase Indonesia’s exports to the UAE by around $4 billion, the country's Chief Economic Affairs Minister Airlangga Hartarto said on Friday. "It will also increase [our] imports from the UAE by approximately $4 billion,” he added.According to Indonesia's Foreign...

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...

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...

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 growth...

Dubai, UAE -- A total of1,852 real estate transactions valued at more than AED 9 billion ($2.45 billion) were conducted during the week ending 24th November 2023, according to the Dubai Land Department (DLD).The DLD weekly report said that 384 plots were sold for AED 2.54 billion, 1,468 apartments and...

The pact sets up a framework for knowledge, data sharing

The pact will help in creating job opportunities in the UAE.

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 by EGA...

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 city...

Dubai, UAE - Blue Carbon, a Dubai-based company has secured expansive forested land across several African nations, a CNN report said. The area, which is estimated to be nearly equivalent to the size of the United Kingdom, is earmarked for conservation projects aimed at safeguarding forests and preventing significant amounts of...