BLOOMBERG Sweden’s H2 Green Steel AB raised €1.5 billion ($1.6 billion) of equity to help finance the world’s first large-scale green steel plant and a giga-scale electrolyser that will supply the site with hydrogen. The private placement, which the firm says is the largest this year in Europe, was co-led by French hydrogen investor Hy24, together with existing investors including ...

BLOOMBERG Stripe Inc’s $1 billion Frontier fund has written its third round of checks to startups attempting to suck carbon dioxide out of the atmosphere. Frontier facilitated the purchase of $7 million of carbon removal services from 12 startups on behalf of Stripe, Shopify Inc and Hennes & Mauritz AB (H&M). The startups use a variety of techniques to remove ...

DUBAI/GULF TIME The sixth edition of the esteemed Rotating Machinery Technology & Innovation gathering, RoTIC Symposium, is set to take center stage from September 25th to 27th at the Festival Arena by InterContinental, Dubai. Organized by Aldrich Energy, this premier event promises to be a pivotal platform for industry leaders and technical experts from across the globe to convene and ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to King Mswati III of Eswatini, on the occasion of his country’s National Day, which is observed on September 6 . His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh ...

ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, has launched the Strategy of the Ministry of Foreign Affairs (MoFA) 2023-2026, at a ceremony held at the ministry’s headquarters in Abu Dhabi. Sheikh Abdullah also honoured the winners of the 4th MoFA Excellence Award at the ceremony. Attending the ceremony were Sheikh Shakhboot bin ...

ABU DHABI / WAM Adnoc has announced a final investment decision (FID) to develop one of the largest carbon capture projects in the Middle East and North Africa (Mena) region. The pioneering Habshan carbon capture, utilisation and storage (CCUS) project will have the capacity to capture and permanently store 1.5 million tonnes per annum (mtpa) of carbon dioxide (CO2) within ...

DUBAI / WAM The Federal Tax Authority (FTA) has launched a new series of events, including a set of specialised educational workshops, to promote tax awareness among school and university students as part of its comprehensive awareness campaign for this key sector. The events are scheduled to coincide with the start of the 2023/2024 academic year and aim to enhance ...

SHARJAH / WAM Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Book Authority (SBA), has affirmed that Sharjah is solidifying its status as a global cultural hub and serves as a reliable destination for all those seeking to discover Arab culture and its rich history and contributions to humankind. The SBA Chairperson also noted that the emirate’s cultural platforms ...

DUBAI / WAM Emirates NBD has launched its Sustainable Finance Framework as part of its long-term commitment to sustainability. The new framework allows for the issuance of green and sustainable debt instruments to finance projects, which enable the transition to a low-carbon and climate-resilient economy. The framework also provides the distribution of social debt instruments leading to a positive societal ...

ABU DHABI / WAM Abu Dhabi Exports Office (Adex), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a financing agreement with the National Bank of Egypt (NBE), reinforcing trade and economic relations between the UAE and Egypt. This landmark collaboration solidifies the longstanding bond between the two nations and showcases their commitment to mutual prosperity and ...