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  Dubai / WAM The Mohammed bin Rashid Initiative for Global Prosperity (MBR Initiative) and the United Nations Human Settlements Programme (UN-Habitat) on Wednesday announced that they had started preparations to launch the first cohort of the Decade of Action Challenge to drive sustainable urbanisation. The two organisations conducted two Challenge Design Workshops, one virtually on March 23 and another ...

  Bloomberg A controversial UK oil project won a license extension, keeping open the possibility of development even after Shell Plc retreated amid a backlash from climate protesters. The Cambo field has received a two-year extension from the energy regulator, operator Siccar Point Energy Ltd said. The project was put on ice late last year after minority owner Shell chose ...

Bloomberg The Kremlin said there are no breakthroughs in talks with Ukraine as skeptical Nato allies evaluate whether Russia’s promise to scale back military operations in Ukraine marks a turning point in the conflict or simply a tactical shift. Attacks continued to be reported near Kyiv. President Joe Biden said he’ll wait and see whether Russia delivers on a pledge ...

  Bloomberg The economic damage from the war in Ukraine is worsening across Europe as already-record inflation soars further and Germany faces a danger of recession because of its dependence on Russian energy. President Vladimir Putin’s invasion has sapped euro-area confidence and sent consumer-price expectations to their highest level since records began in 1985. In Spain, inflation surged by almost ...

  Bloomberg Argentina’s economy contracted in January as a surge in coronavirus cases due to the omicron variant weighed on industrial manufacturing. Economic activity in January falls 0.5% from the prior month, better than analysts’ median estimate for a 1% contraction. From a year ago, the economy expanded 5.4% in the first month of the year, according to government data. ...

Bloomberg The European Union (EU) plans to ensure that products from handbags to laptops and mobile phones are more durable, in a bid to curb the environmental damage caused by their limited lifespans. Under the “Circular Economy Package” put forward by the European Commission on Wednesday, companies will have to show that the products they sell within the EU last ...

  Bloomberg Hurricane Ida and the freakish winter storm that froze Texas last February topped last year’s list of most damaging storms, according to the annual report on insurance industry losses caused by natural catastrophes put out by reinsurance giant Swiss Re. The report found that global economic losses from natural catastrophes such as floods, hurricanes and wildfires reached $270 ...

  Dubai / WAM Mohammad Abdullah Al Gergawi, UAE Minister of Cabinet Affairs and Chairman of the World Government Summit (WGS) Organisation, opened the first day of WGS2022 by setting out how governments need to adapt to an accelerating speed of change that will challenge regulators’ ability to keep pace. Mohammad Al Gergawi gave ‘three readings of the future’ centred ...

  DUBAI / WAM Expo 2020 Dubai recorded more than one million visits last Friday, Saturday and Sunday as visitors say their final goodbyes to what has been a spectacular six months. More well-wishers are expected to flock to the site in the remaining three days to be part of the World Expo’s closing action and entertainment – including what ...

  DAR ES SALAAM / WAM DP World on Tuesday announced the launch of its wholesale e-commerce platform Dubuy.com in Tanzania. The online marketplace will give Tanzanian businesses better access to international markets. It will also provide a more secure and reliable supply chain, through DP World’s worldwide ports and logistics network. The new platform enables Tanzanian businesses to buy ...