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☆ Escaped bear delays flight in Dubai
▼ + stars: | 2023-08-07 | by ( Celine Alkhaldi | ) edition.cnn.com time to read: +2 min

Abu Dhabi CNN —A bear being transported on an Iraqi Airways flight from Baghdad to Dubai Friday caused delays after it escaped from a crate in the cargo hold. The bear was sedated by a specialist team in Dubai and taken off the plane, Iraqi Airways said in a statement shared with CNN. The airline issued an apology on Saturday, saying the bear had escaped the crate “upon arrival to Dubai Airport.”“The company apologizes to the passengers on the flight from Baghdad International Airport to Dubai Airport for reasons beyond the control of the company,” it said. “Upon arrival to Dubai Airport, the animal escaped the crate specified for its shipment,” the airline said, adding that it was being transported in line with international animal welfare guidelines. “Two small, endangered bears were shipped from Baghdad, and when the flight arrived in Dubai, one of the bears broke his cage, forcing health and environment authorities at Dubai airport to sedate it,” the statement said.

Persons: Mohammed Shia Organizations: Abu Dhabi CNN, Iraqi Airways, ”, CNN, Dubai Airport, United Arab Locations: Abu Dhabi, Baghdad, Dubai, United Arab Emirates

☆ How Saudi Arabia and UAE learned to stop worrying and love Turkey's Bayraktar drones
▼ + stars: | 2023-08-06 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

Saudi Arabia and the UAE have signed multibillion-dollar deals for Turkish drones in recent months. Azeri Ministry of DefenseSaudi Arabia previously showed interest in procuring Turkish drones and securing rights for local production. Bakir told Insider that Turkish drones have gained "global recognition" due to their "affordability, efficiency, and lethal capabilities" and documented successes over modern battlefields. "Moreover, Saudi Arabia could use such capabilities to balance Iran's drone technology in the long run," Ozeren said. Ozeren said the Saudi deal could help Baykar "monopolize" drone technology in Turkey but noted that crucial details about the agreement remain unknown.

Persons: Recep Tayyip Erdogan, Baykar, Abu Dhabi's, Loong, Loongs, Abu Dhabi, Abu, Ali Bakir, Erdogan, Mohammed bin Salman, Murat Kula, Bakir, Suleyman Ozeren, It's, Ozeren, Ali Atmaca, Sheikh Mohammed bin Zayed, Murat Centinmuhurdar, Bashar Assad, Paul Iddon Organizations: UAE, Service, United, United Arab Emirates, Turkey's Baykar Defense, Ministry of Defense, Anadolu Agency, Getty, Dassault Rafales, Ibn Khaldon, NATO, European Union, American University, Orion Policy Institute, Ataturk Airport, Security Initiative, Atlantic Council Locations: Saudi Arabia, Wall, Silicon, United Arab, Turkish, Riyadh, East, North Africa, South Caucasus, Ukraine, Armenian, Ministry of Defense Saudi Arabia, Republic of Turkey, Kuwait, UAE, Saudi, Istanbul, Yemen, Libya, Abu, Turkey, China, France, Qatar, Jeddah, Anadolu, Nahyan, Abu Dhabi

☆ Relentless Man City seek record four titles in a row
▼ + stars: | 2023-08-04 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

However, such is the nature of the Premier League that City will certainly not have everything their own way. Juergen Klopp's side's failure to qualify for the Champions League would have stung, especially with Manchester United finishing eight points above them. Newcastle United, who finished fourth last term, will be determined to prove it was no flash in the pan, although they will need to juggle the demands of battling for a top-four finish with the Champions League this time. The additions of winger Harvey Barnes from Leicester City and Sandro Tonali from Milan will certainly help. Postecoglou is the first Australian to manage in the Premier League and faces a big challenge at the north London club who endured a toxic 2022-23 campaign under Antonio Conte.

Persons: Phil Foden, Aymeric Laporte, Ruben Dias, Pep Guardiola, Guardiola, pacesetters, Ilkay Gundogan, Riyad Mahrez, Chelsea's Mateo Kovacic, Declan Rice, Alexis Mac Allister, Dominik Szoboszlai, Juergen, Erik ten Hag, Harvey Barnes, Sandro Tonali, Ange Postecoglou, Antonio Conte, Harry Kane, Martyn Herman, Ken Ferris Organizations: Soccer Football, Manchester, Victory, Champions League, FA, Premier League, Manchester United's, League, Inter Milan, pacesetters Arsenal, City, Arsenal, Etihad, LIVERPOOL Liverpool, Manchester United, Newcastle United, Leicester City, Tottenham Hotspur, Bayern Munich, Luton Town's, Luton, Bournemouth, Nottingham Forest, Thomson Locations: Manchester, Britain, Manchester City, Abu Dhabi, Spanish, Istanbul, Barcelona, Al, Ahli, Saudi Arabia, City, Milan, Postecoglou, London, Fulham

☆ Abu Dhabi National Oil Company has brought forward its net-zero target by 5 years
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAbu Dhabi National Oil Company has brought forward its net-zero target by 5 yearsAbu Dhabi National Oil Company has brought forward its net-zero target by five years to 2045, as the United Arab Emirates prepares to host COP28. CNBC's Dan Murphy reports.

Persons: CNBC's Dan Murphy Organizations: Abu, Abu Dhabi National Oil Company, United Arab Emirates Locations: Abu Dhabi

☆ UAE oil giant raises climate goal ahead of key UN summit
▼ + stars: | 2023-07-31 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

The United Arab Emirates supplies nearly 3% of global oil, which is a major source of greenhouse gases. ADNOC said its upstream carbon intensity was around 7 kilograms of carbon dioxide equivalent per barrel of oil equivalent, which is among the lowest in the world. On Monday, it said it aimed to cut carbon intensity by 25% by 2030. Intensity-based targets measure the amount of GHG emissions per unit of energy or barrel of oil and gas produced. It said on Monday its 2022 methane intensity was about 0.07% and its upstream carbon intensity was around 7 kilograms of carbon dioxide equivalent per barrel of oil equivalent, its first such disclosures.

Persons: Sultan, Jaber, ADNOC, Yousef Saba, Hadeel Al Sayegh, Ron Bousso, Nadine Awadalla, Louise Heavens, Alexander Smith Organizations: Abu Dhabi National Oil Company, United Arab Emirates, Dubai, United, Saudi Aramco, U.S, Exxon, Aramco, Thomson Locations: DUBAI, Abu Dhabi, UAE, United Nations, Saudi

☆ Winning streak 'keeps the fire going', says Verstappen
▼ + stars: | 2023-07-31 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

Since those musings at a race won by Mexican team mate Sergio Perez, Verstappen has won every grand prix to go 125 points clear at the top -- the equivalent of five victories -- and take his career tally to 45 wins. Soon to be a triple world champion, Verstappen has a contract to the end of 2028 -- by which time who knows how many wins and titles he will have. If I have to rock up and I have no chance of winning then the fire starts to go away," the Dutch driver said at Spa-Francorchamps. Retired four-time world champion Sebastian Vettel is the only driver to have won nine in a row in a single season, with Red Bull in 2013. Red Bull have yet to end a season with their drivers one-two in the standings and Perez's task is to make sure he finishes runner-up this time.

Persons: Max Verstappen, Johanna Geron, Sergio Perez, Verstappen, Red Bull, Sebastian Vettel, Christian Horner, Horner, Perez, Checo, Max, Bull, Alan Baldwin, Ken Ferris Organizations: Belgian, Prix, Red Bull Formula, Spa, Zandvoort, Red, Thomson Locations: Spa, Belgium, Azerbaijan, Mexican, Abu Dhabi, Baku, London

☆ Ancient treasures are being looted, but blockchain could help protect them
▼ + stars: | 2023-07-31 | by ( Nadia Leigh-Hewitson | ) edition.cnn.com time to read: +6 min

Now, some are suggesting blockchain could spare the blushes of those trading in ancient treasures and artifacts. Blockchain, the technology that underpins cryptocurrencies like Bitcoin, is essentially a decentralized, immutable, publicly accessible digital ledger. Salsal allows a museum or collector to submit details about their collection using the web platform. People powerAnother blockchain based tool, called Kapu, was developed in Italy in 2017, but the tool has since gone offline. There is a small cost for collectors to use Salsal, but no more than a couple of dollars per collection.

Persons: Adel Khelifi, Mark Altaweel, ”, Khaled Desouki, Tasoula Hadjitofi, Hunter, Hadjitofi, Salsal, “ We’re, Altaweel Organizations: CNN, New York Met, University of Abu, University College London, UCL, Association, National Museum of, Getty Locations: Egypt, University of Abu Dhabi, Cairo, AFP, Famagusta, Cyprus, Netherlands, British, Hague, Italy

☆ China's electric car game amps up. One stock has doubled this year
▼ + stars: | 2023-07-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Just when Chinese electric car companies may be needing the cash, foreign automakers need the market — not only in China but globally. Volkswagen isn't faring much better in China's electric car market, with an average of just over 10,000 vehicles delivered each month in the first half of the year. China's homegrown electric car brands from BYD to Zeekr have piled into the local market, where Tesla still commands a hefty share. Li Auto was the only one of the three U.S.-listed Chinese electric car companies to have the healthiest reading above 1, according to a Wind Information screen for the first quarter. China's electric car market is set to grow by 27% this year to 8.7 million units — and remain the largest in the world in coming years, according to Bank of America Securities.

Persons: Tesla, Nio, Li Auto, Volkswagen's Organizations: Volkswagen, Everbright Securities, CNBC, Bank of America Securities, International Energy Agency Locations: China, Western Europe, Shanghai, BYD, Abu Dhabi, U.S

☆ How Abu Dhabi's $276 billion Mubadala sovereign wealth fund is investing in software in the new age of AI
▼ + stars: | 2023-07-26 | by ( Alistair Barr | ) www.businessinsider.com time to read: +5 min

Ali Osman, head of technology and software investments at Abu Dhabi's giant Mubadala sovereign wealth fund, has invested steadily through it all and is not shying away from putting more money to work. He and his team focus on business software and specialize in private equity, making direct buyout investments and indirect bets through major PE firms. Osman works with many of the biggest and most successful PE firms in the tech space, including Thoma Bravo, TPG and Bain Capital. AI uncertainty and dataThe generative AI boom, and the rise of large language models, has introduced a major new variable to software investing. The other bottleneck is capital, basically the cash available to invest in software businesses.

Persons: Ali Osman, Mubadala, Osman, Thoma Organizations: Abu, Thoma Bravo, TPG, Bain Capital, Vista Equity Partners, PE Locations: Morocco, SalesLoft, mindspace

☆ Crypto exchange Rain to target UAE asset managers after winning licence
▼ + stars: | 2023-07-25 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +2 min

DUBAI, July 25 (Reuters) - Middle Eastern crypto exchange Rain said on Tuesday its Abu Dhabi unit obtained a license to operate a virtual assets brokerage and custody service for clients in the United Arab Emirates. Local asset managers have been hesitant to work with crypto firms without a domestic licence, he continued, adding they will now feel more comfortable after it obtained regulatory approval. Rain, which has units registered in Bahrain and Turkey, said it would use the proceeds on regional expansion. The UAE has been trying to attract some of the world's biggest crypto firms. It has also been trying to develop virtual asset regulation to attract new forms of business as economic competition heats up in the Gulf region.

Persons: Coinbase, Yehia Badawy, Badawy, Kleiner Perkins, Hadeel Al Sayegh, Emma Rumney Organizations: United, United Arab Emirates, Abu Dhabi Global, Coinbase Ventures, Thomson Locations: DUBAI, Abu, United Arab, The Bahrain, Abu Dhabi, UAE, Silicon Valley, Bahrain, Turkey, Gulf

☆ Man tests positive for MERS in Abu Dhabi near Oman border - WHO
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

GENEVA, July 24 (Reuters) - A 28-year-old man has tested positive for the potentially fatal Middle East Respiratory Syndrome Coronavirus (MERS-CoV) in a city in Abu Dhabi on the border with Oman, the World Health Organization said on Monday. The man in the city of Al Ain was admitted to hospital last month, the WHO said in a statement. The WHO said there were no signs the man had come into contact with dromedary camels, which spread the disease that is separate from COVID-19. The United Arab Emirates' health ministry did not immediately respond to a request for comment about the case. The UAE, a hub for international events, will host the United Nations Climate Change Conference in November and December.

Persons: Al Ain, Gabrielle Tétrault, Farber Organizations: World Health Organization, WHO, Health, United Arab, United Nations, Thomson Locations: GENEVA, Abu Dhabi, Oman, Al, United Arab Emirates, UAE

☆ ADNOC has upper hand in $30 bln plastics M&A
▼ + stars: | 2023-07-24 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

The complex ownership structure and the involvement of two governments make it intriguing to see who holds the whip hand. ADNOC owns 54% of Abu Dhabi-listed Borouge, while 36% of the same company is held by Borealis, with other investors accounting for the other 10%. Meanwhile ADNOC owns 25% of Borealis, while OMV holds the other 75%. Strip out Borouge's dividend, and Borealis would be worth $10 billion, Deutsche Bank reckons. ADNOC’s 63% Borouge stake and 25% Borealis stake are thus worth $14 billion and $2.5 billion respectively; OMV’s 27% Borouge stake and 75% Borealis holding are worth $6 billion and $7.5 billion.

Persons: ADNOC, OMV, Goldman Sachs, China's Sinopec, Saudi Arabia's SABIC, Abu Dhabi, Abu Dhabi’s, George Hay, Pranav Kiran Organizations: Reuters, Abu, Abu Dhabi National Oil Company, Borealis, Reuters Graphics Reuters, Deutsche Bank, Abu Dhabi National Oil Co, OMV, ADNOC, Thomson Locations: Abu Dhabi, Austrian, Borealis, Borouge, Saudi, India, Abu, Europe, Vienna, ADNOC

☆ Sale of control in Israel's Phoenix to ADQ-led group falls through
▼ + stars: | 2023-07-23 | by ( Emily Rose | ) www.reuters.com time to read: +1 min

JERUSALEM, July 23 (Reuters) - A deal for two shareholders in Israeli financial firm Phoenix Group (PHOE1.TA) to sell control of the group to a consortium led by Abu Dhabi state holding company ADQ has fallen through, a regulatory filing showed on Sunday. However a non-binding agreement was "mutually terminated", the sellers said in a letter to Phoenix that was posted on the Tel Aviv Stock Exchange. The letter cited regulatory limitations that would prevent members of the UAE consortium from making other "material investments in Israel". A spokesperson for ADQ told Reuters the group had no comment on the matter. Phoenix Group, one of Israel's largest financial companies, has a market capitalisation of around 9.85 billion shekels.

Persons: Abu, ADQ, Abraham, Emily Rose, Jan Harvey Organizations: Phoenix Group, Centerbridge Partners, Gallatin Point Capital, UAE, Tel Aviv Stock Exchange, Reuters, Abraham Accords, Thomson Locations: Abu Dhabi, ., Gallatin Point, Phoenix, UAE, Israel, Gallatin, U.S

And, in that same earnings call earlier this year, Novogratz said Galaxy hired some traders based in Hong Kong. Just this week, Societe General 's crypto arm received approval by France's financial regulator to offer crypto services, including crypto assets. The next month, Hong Kong implemented a new licensing regime so crypto exchanges can serve retail customers. Hong Kong, in particular, has tried to position itself as an international hub for crypto. Galaxy Chief Investment Officer Chris Ferraro echoed that sentiment in a recent "Crypto World" interview.

Persons: –, Mike Novogratz, Brian Armstrong, Novogratz, Cantor Fitzgerald's Elliot Han, Dean Sovolos, Lily King, Cobo, Owen Lau, Chris Ferraro, Kraken –, Binance, Han, we're Organizations: BlackRock, SEC, Washington, Galaxy, United, Gemini, Payment, Societe, European Union, Crypto, Assets Regulatory Authority, Financial, Oppenheimer, U.S, Coinbase, Huobi, BTC Locations: U.S, Europe, Hong Kong, Abu Dhabi, Dubai, Bermuda, United Arab Emirates, Asia, Gurgaon, India, Singapore, United States, East, VARA, B2C2, Silicon, London, Berlin, China

[1/2] A view of Condor Galaxy supercomputing systems for artificial intelligence work made by Cerebras Systems, in Santa Clara, California, U.S., in this undated handout photo received on July 19, 2023. Abu Dhabi-based G42, a tech conglomerate with nine operating companies that include datacenter and cloud service businesses, says it plans to use the Cerebras systems to sell AI computing services to health care and energy companies. G42 has raised $800 million from U.S. tech investment firm Silver Lake, which has backing from Mudabala, the UAE's soverign wealth fund. "Cerebras has what they call a 'white glove' service that made it easy for us" to build AI systems on its machines, G42 Cloud CEO Talal AlKaissi told Reuters. G42 Cloud's AlKaissi declined to comment on the terms of the deal.

Persons: Rebecca Lewington, Cerebras, Andrew Feldman, Feldman, Talal AlKaissi, Stephen Nellis, Krystal Hu, Rashmi Organizations: Condor Galaxy supercomputing, Cerebras Systems, REUTERS, Systems, United Arab, Nvidia Corp, Nvidia, Condor Galaxy, Cerebras, UAE, Mudabala, Reuters, Thomson Locations: Santa Clara , California, U.S, United Arab Emirates, Abu Dhabi, Silver, San Francisco, New York

[1/2] A view of Condor Galaxy supercomputing systems for artificial intelligence work made by Cerebras Systems, in Santa Clara, California, U.S., in this undated handout photo received on July 19, 2023. Courtesy of Rebecca Lewington of Cerebras Systems/Handout via REUTERSJuly 20 (Reuters) - Cerebras Systems on Thursday said that it has signed an approximately $100 million deal to supply the first of three artificial intelligence (AI) supercomputers to the United Arab Emirates-based technology group G42. "Cerebras has what they call a 'white glove' service that made it easy for us" to build AI systems on its machines, G42 Cloud CEO Talal AlKaissi told Reuters. The contract to complete the first of the three systems announced on Thursday is worth about $100 million, Cerebras CEO Andrew Feldman said. "What we're saying is that the $100 million contract takes us through Condor Galaxy 1... That's the unit, the building block."

Persons: Rebecca Lewington, Cerebras, Talal AlKaissi, Andrew Feldman, Stephen Nellis, Krystal Hu, Rashmi Organizations: Condor Galaxy supercomputing, Cerebras Systems, REUTERS, Systems, United Arab, Nvidia Corp, Nvidia, Condor Galaxy, Mudabala, Reuters, Thomson Locations: Santa Clara , California, U.S, United Arab Emirates, Abu Dhabi, Silver, San Francisco, New York

☆ How the Middle East is preparing for the post-oil, EV era of transportation
▼ + stars: | 2023-07-20 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +3 min

U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced. The Middle East, a region long known for its oil and gas riches, is investing in a new, more sustainable future potentially dominated by electric vehicles. The electric vehicle sector is booming in Israel, with electric vehicle deliveries in the first half of this year over 210% higher than the same period last year. "There's a growing recognition that countries need to do something on climate," said Tammy Klein, chairperson of the Electric Vehicle Council. "I think Middle Eastern countries are no different."

Persons: Larry Fink, Amin Nasser's, Tammy Klein, Klein, Robert Falck, we'll, " Falck Organizations: BlackRock, Saudi, Lucid, Gauss Auto, Marson Group, Electric Vehicle Council, EV, Einride, UAE Ministry of Energy, Infrastructure Locations: Saudi Arabia, Saudi Aramco, Israel, Bahrain, American, U.S, Europe, UAE, Sweden, It's, Abu Dhabi, Dubai, Sharjah

☆ Abu Dhabi's ADQ signs $11.5 bln deals with Turkey for earthquake relief, exports
▼ + stars: | 2023-07-19 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

July 19 (Reuters) - Abu Dhabi sovereign wealth fund ADQ said on Wednesday it signed two memoranda of understanding to finance up to $8.5 billion of Turkey earthquake relief bonds and $3 billion in credit facilities to support Turkish exports. The bonds, agreed with Turkey's finance ministry, will fund "comprehensive reconstruction efforts in southern and central Turkiye," ADQ said in a statement. Abu Dhabi has also shifted to deploy more economic diplomacy, often using ADQ. IHC, also chaired by Sheikh Tahnoun, bought a 50% stake in Turkey's Kalyon Enerji for $490 million last August. Reporting by Yousef Saba; Additional reporting by Yomna Ehab; Editing by Peter Graff and Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

Persons: ADQ, Tayyip Erdogan, Abu, Abu Dhabi, Sheikh Tahnoun bin Zayed, Sheikh Mohammed, Sheikh Tahnoun, Yousef Saba, Yomna Ehab, Peter Graff, Mike Harrison Organizations: Export Credit Bank of Turkiye, United Arab, UAE, Thomson Locations: Abu Dhabi, Turkey, Turkiye, Syria, United Arab Emirates, Riyadh, Turkey's

The House Select Committee on the Chinese Communist Party sent letters to four separate U.S. venture capital firms, including Qualcomm's venture arm, expressing "serious concern" about their investments in Chinese tech startups. The letters, which were made public on Wednesday, were sent to GGV Capital, GST Ventures, Qualcomm Ventures, and Walden International. Qualcomm Ventures, for example, made 13 investments in Chinese A.I. Walden, a smaller firm, was identified as a particularly significant backer of Chinese AI companies. He said at the time he found there was "broad support" among venture capitalists and others to keep U.S. asset managers from investing in Chinese AI firms.

Persons: Mike Gallagher, Wisconsin Republican Mike Gallagher, Raja Krishnamoorthi, Janet Yellen, Antony Blinken, Gallagher, Krishnamoorthi, SenseTime, GGV, Didi, Megvii, Abu, Walden, Intellifusion, Neil Shen helming Organizations: U.S, Capitol, Chinese Communist Party, GGV, Ventures, Qualcomm Ventures, Walden International, Wisconsin Republican, Treasury, New York Times, Qualcomm, Tiger Global Management, Tiger Global, Denglin Technology, Georgetown's Center for Security, Emerging Technology, Macquarie Group, GSR Ventures, Center for Security, Horizon Robotics, Silicon Valley, CNBC, U.S . Commerce Department, Street, Sequoia Capital, Sequoia Locations: Illinois, China, U.S, Silver, Denglin, Silicon Valley, San Francisco, Shanghai, Beijing, Singapore, Megvii, Sequoia China

☆ Turkey's Erdogan ends Gulf tour with Abu Dhabi visit
▼ + stars: | 2023-07-19 | by ( Rachna Uppal | ) www.reuters.com time to read: +2 min

Abu Dhabi is Erdogan's last stop in a Gulf tour that included the Saudi Red Sea city of Jeddah and Doha. Reaping the benefits of his diplomatic efforts, Saudi Arabia agreed on Tuesday to buy Turkish drones in the biggest defence contract in Turkey's history. Turkey also sent troops to Doha when Saudi Arabia and the UAE imposed a blockade on Qatar in 2017. Abu Dhabi agreed last year to a $5-billion swap deal in local currencies with Ankara to help its struggling lira. Reporting by Rachna Uppal in Abu Dhabi and Yousef Saba in Dubai, writing by Aziz El Yaakoubi; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Tayyip Erdogan, Abu Dhabi, Cevdet Yilmaz, Mehmet Simsek, Sheikh Mohammed bin Zayed, Rachna Uppal, Yousef Saba, Aziz El Yaakoubi, Bernadette Baum Organizations: United Arab Emirates, Turkish, Thomson Locations: ABU DHABI, Abu Dhabi, Saudi Red Sea, Jeddah, Doha, Saudi Arabia, Riyadh, Turkey, UAE, Qatar, Ankara, Nahyan, Gulf, Dubai

☆ Abu Dhabi's Masdar eyeing acquisition targets in US, Europe expansion
▼ + stars: | 2023-07-19 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

DUBAI, July 19 (Reuters) - Abu Dhabi state-owned renewable energy firm Masdar is in discussions with potential acquisition targets in the U.S. and is also looking to expand in Europe, Gulf Arab countries and elsewhere, its chief financial officer said on Wednesday. Masdar is in active discussions and U.S. President Joe Biden's $430 billion Inflation Reduction Act "reinforced" its view of the U.S. market, he said. "So we are already securing new capacities, so my expectation is that we are likely to come to market again in 2024," he said, adding Masdar would only issue bonds for already-secured projects. In November, the UAE and U.S. agreed to spend $100 billion on clean energy projects with a goal of adding 100 gigawatts globally by 2035. Jaber last week said countries at COP28 must face how far behind they are lagging climate targets and agree a plan to get on track.

Persons: Niall Hannigan, Joe Biden's, Masdar, Hannigan, Sultan al, Jaber, Yousef Saba, David Evans Organizations: Abu, Abu Dhabi National Oil Company, Thomson Locations: DUBAI, Abu Dhabi, U.S, Europe, Gulf Arab, North America, Balkans, Poland, Serbia, Montenegro, Greece, Gulf, Saudi Arabia, Asia, Pacific, Africa, Azerbaijan, Uzbekistan, UAE

☆ The $236 Billion Enigma Dominating Abu Dhabi’s Stock Market
▼ + stars: | 2023-07-18 | by ( Eliot Brown | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ COP28 in Dubai: Inside the push to greenwash the next climate summit
▼ + stars: | 2023-07-18 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +11 min

The country has embarked on a major PR campaign to boost its green credentials ahead of the COP28 UN climate summit in Dubai later this year, prompting heavy criticism from climate groups and some politicians. The controversial road to COPThe climate summit takes place at a different location each year, with responsibility for hosting rotating among five regional groups. But the UAE stands out because of the way it chose to intertwine the summit with its oil business. In January, the UAE announced Sultan Al Jaber would be the summit president, to the horror of many climate groups. The country is “ideally suited to host” the summit, a spokesperson for the COP28 presidency told CNN.

Persons: ”, Jennie King, Sultan Al Jaber, Al Jaber, CNN Al Jaber “, Al Jaber’s, John Kerry, Frans Timmermans, “, ” Al Jaber, It’s, it’s, Al, ADNOC, Marc Owen Jones, Hamad, Jones, King, Cop28, Kat Ainger, ” King Organizations: CNN, United, United Arab Emirates, Centre, Climate, Guardian, Institute for Strategic, Abu, Abu Dhabi National Oil Company, US, Associated Press, EU, Hamad bin Khalifa University, Twitter, UAE COP28, UAE Ministry of, Environment, UAE, US Justice Department, Corporate Locations: United Arab, Dubai, UAE, Katowice, Glasgow, Abu Dhabi, Al Jaber, Qatar, Paris, China, India, ”

☆ Al Ain Adventure: Abu Dhabi has built a white water river in the middle of a scorching desert
▼ + stars: | 2023-07-17 | by ( Bijan | ) edition.cnn.com time to read: +4 min

Al Ain, Abu Dhabi CNN —“Back! Al Ain Adventure ParkAl Ain Adventure Park has gained international recognition as a hub for sports professionals seeking to hone their skills in various disciplines. Al Ain Adventure ParkMaintaining a water park in the middle of a desert environment poses unique challenges that require meticulous upkeep and careful management. Al Ain Adventure Park reopened in December 2022 after a three-year hiatus caused by the coronavirus pandemic. Al Ain Adventure Park aims to offer a unique experience where action-packed water sports can coexist in the UAE’s harsh desert climate.

Persons: Al, ” Shrestha, ”, Shrestha, He’s Organizations: CNN, Abu Dhabi CNN, Al, Al Ain Adventure, International, Federation, Ain Adventure Locations: Al Ain, Abu Dhabi, Abu Dhabi’s Jebel Hafeet, Abu, Abu Dhabi’s, Nepal, Japan, India, UAE, Ain, Europe, Russia, Ras Al Khaimah

☆ Japan and UAE agree innovation, climate change cooperation
▼ + stars: | 2023-07-17 | by ( Rachna Uppal | ) www.reuters.com time to read: +4 min

State news agency WAM also said the two leaders discussed a comprehensive strategic partnership between the UAE and Japan. Japan is actively developing greener and renewable energy technologies and aims to be carbon neutral by 2050. Kishida will also try to promote Japanese know-how as energy-producing countries have pledged to achieve a net zero transition, especially ahead of the COP28 climate summit to be held in Dubai in November. The GCC is a six-nation regional union that comprises Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "The secure energy supply from the UAE has supported Japan's economic growth for many years," Kishida wrote in a piece published by UAE state news agency WAM on Sunday.

Persons: Mohamed bin Zayed Al Nahyan, Kishida, Ryan Carter, Fumio Kishida's, Sheikh Mohammed bin Zayed Al Nahyan, WAM, Saudi Crown Prince Mohammed bin Salman, Hikariko Ono, Rachna Uppal, Sakura Murakami, Andrew Mills, Aziz El Yaakoubi, Conor Humphries, David Evans, Alex Richardson, Jacqueline Wong Organizations: United Arab Emirates, United, UAE, United Arab, Japan, Qatar, Saudi Crown, Cooperation Council, GCC, Abu Dhabi National Oil Company, Thomson Locations: Japan, Qasr Al Watan, Abu Dhabi, United Arab, ABU DHABI, United Arab Emirates, UAE, State, Dubai, Saudi Arabia, Riyadh, Tokyo, Saudi, Qatar, Kuwait, Oman, Bahrain

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