May, 2023

• 9 May

  Germany faces $13.2b shortfall in climate-protection fund

  

  BLOOMBERG Germany is facing a shortfall of about €12 billion ($13.2 billion) in its special climate-protection fund, suggesting the government in Berlin has significantly underestimated the cost of greening Europe’s biggest economy. Commitments to climate—protection projects exceed earmarked resources through 2026, according to people familiar with the budget details, who asked not to be identified discussing confidential information. The estimated ...

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• 9 May

  The planet keeps breaking records for warming waters

  

  BLOOMBERG Earth broke grim new records for melting glaciers, rising sea levels and ocean heat last year, according to a new report from the World Meteorological Organization (WMO). The WMO’s annual State of the Global Climate report, which tracks climate indicators and impacts, cited a record high for ocean heat content in 2022. Some 58% of the ocean surface experienced ...

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• 9 May

  UAE leaders send condolences to Saudi King on death of mother of Prince Mansour bin Nasser

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia, on the death of the mother of Prince Mansour bin Nasser bin Abdulaziz Al Saud. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice ...

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• 9 May

  Dewa records AED5.44b revenue in first quarter

  

  DUBAI / WAM Dubai Electricity and Water Authority PJSC (Dewa), the emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), on Monday reported its first quarter 2023 consolidated financial results, recording quarterly revenue of AED5.44 billion and net profit of AED763 million. For the last twelve months, Dewa’s consolidated revenue was ...

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• 9 May

  Green education helps create sustainable future for our generations, says Abdullah bin Zayed

  

  ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Chairman of the Education and Human Resources Council (EHRC), emphasised the pressing need for global action to preserve the planet in light of the challenges posed by climate change and environmental damage. HH Sheikh Abdullah noted that the world is ...

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• 9 May

  GPSSA provides extended Emirati families with fair share of pension

  

  ABU DHABI / WAM The General Pension and Social Security Authority (GPSSA) provides extended Emirati families with their fair share of pension and social security coverage, thanks to a flexible and secure insurance scheme that offers life-long financial sustainability for eligible UAE nationals. The ‘Get Ready — Proactive Financial Planning’ campaign showcases the generous disbursements released by the GPSSA to ...

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• 9 May

  China flags supply chains, population as top policy priorities

  

  BLOOMBERG China is expected to roll out new policies to protect supply chains and boost its birth rate, after President Xi Jinping led a high-profile meeting that established these areas as top economic priorities. Economists at Goldman Sachs Group Inc and Oversea-Chinese Banking Corp (OCBC) say the government could announce new specific measures on how to address those challenges in ...

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• 9 May

  BYD to make electric vehicles in Vietnam in Southeast Asia push

  

  BLOOMBERG BYD Co plans to produce electric vehicles (EVs) in Vietnam and expects support from the country’s government to do so, the Southeast Asian nation said following a meeting between Deputy Premier Tran Hong Ha and the automaker’s chairman and founder, Wang Chuanfu. Wang expects Vietnam to create “favourable conditions” for BYD to complete investment procedures so it can quickly start ...

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• 9 May

  Brutal heat continues to grip Asia in warning for the world

  

  BLOOMBERG Asia remains in the grip of a blistering heat wave, chiming with predictions from climate scientists that 2023 could be the world’s hottest year. In an ominous sign ahead of the northern hemisphere summer, an emerging El Nino weather pattern is pushing the mercury to unprecedented levels in southern parts of the continent. Vietnam reported its highest ever temperature ...

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• 9 May

  IMF team flags risks to Bangladesh as reserves fall further

  

  BLOOMBERG The International Monetary Fund (IMF) flagged risks to the Bangladesh economy such as inflation, growth and foreign reserves as it concluded its mission under the $4.7 billion loan programme. “Persistent inflationary pressures, elevated volatility of global financial conditions, and slowdown in major advanced trading partners continue to weigh on growth, foreign currency reserves, and the Taka,” according to a ...

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