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Abu Dhabi / WAM The UAE-Caribbean Renewable Energy Fund (UAE-CREF), the largest renewable energy investment of its type in the region, which is fully financed by Abu Dhabi Fund for Development (ADFD), announced the signing of an engineering, procurement and construction (EPC) contract to build a hurricane-resistant clean energy project worth $50 million in Dominica. Masdar, one of the world’s ...

Bloomberg About 80% of US coal plants are now more expensive to keep running than to swap out for new wind and solar capacity, according to a report from Energy Innovation, a non-partisan climate and energy think tank. While renewables cost more than fossil energy for much of the last century, prices for new wind and solar have dropped so ...

Bloomberg Somalia will expedite elections in a bid to quell instability and coax donors into releasing funds needed to pay the nation’s security forces and other state employees, Foreign Minister Mohamed Abdirizak said. The prime minister is scheduled to meet representatives from political parties and other interested groups in July to agree on the voting process, Abdirizak said. The authorities ...

SHARJAH / WAM The Sharjah Chamber of Commerce & Industry (SCCI) has welcomed a high-level delegation from the Republic of Costa Rica to explore means of enhancing commercial and economic cooperation and encourage mutual investments across vital sectors, thus strengthening partnerships between business communities in both countries. The Costa Rican delegation, which included Andrian Arrigita, Deputy Minister of Foreign Affairs ...

DAMASCUS / WAM A fourth Emirati aid aircraft arrived in Damascus on Tuesday loaded with significant quantities of the coronavirus (Covid-19) vaccine. The aircraft was dispatched by the Emirates Red Crescent (ERC), in coordination with the Syrian Red Crescent Association, to assist the Syrian health sector in addressing the repercussions of the pandemic and support local preventive measures aimed at ...

ABU DHABI / WAM The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has announced it will launch a new series of cultural initiatives, including the Abu Dhabi Register of Artisans, the Abu Dhabi Crafts platform, and the recently reopened House of Artisans at Al Hosn, to help safeguard and disseminate the intangible cultural heritage of the ...

Bloomberg The cost of pollution in the European Union exceeded 50 euros ($60) per metric ton for the first time in the market underpinning the region’s energy transition. Carbon’s run of records in the past year has mirrored the EU’s resolve to ramp up its climate ambition. The bloc’s cap and trade system is a key tool to enact its ...

Bloomberg President Joe Biden sought to ease tensions with his political allies by quadrupling the limit on the number of refugees who can enter the US after months of administration wavering and reversals over increasing the cap. Biden said he would allow in as many as 62,500 refugees by the end of September, up from the historically low ceiling of ...

Abu Dhabi / WAM Abu Dhabi Islamic Bank (ADIB) said its net profit for Q1 of 2021 surged by 125 percent to AED608 million compared to AED 270 million in Q1 of 2020, and up 26 percent against Q4 of 2020. The growth in net profits reflects the strong underlying performance across the business, the bank said in a statement. ...

NIAMEY / WAM The United Arab Emirates on Monday sent a plane carrying 52 metric tons of food supplies to the Republic of Niger as part of its initiatives during the Holy Month of Ramadan. Amer Al Menhali, Charge d’Affaires of the UAE Embassy in Chad, said, “The UAE considers cooperation with the international community to be crucial, especially in ...