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ABU DHABI / WAM The future of the Maldives and its people depends on the success of COP28, the UN Climate Conference to be held in Dubai in November, the country’s top diplomat told the Emirates News Agency (WAM). Abdulla Shahid, Minister of Foreign Affairs of the Maldives, stressed that “For countries such as the Maldives, climate change is an ...

JOHANNESBURG / WAM HH Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, attended a reception hosted by Cyril Ramaphosa, President of the Republic of South Africa, to mark his country’s hosting of the 15th BRICS Summit. The annual summit is taking place in Johannesburg from August 22-24, bringing together heads of state and ...

BLOOMBERG India became the first country to land a spacecraft near the moon’s south pole after Russia’s attempt at a lunar touch down in the same area ended in failure following an engine malfunction. Chandrayaan-3 — India’s spacecraft that launched last month — achieved a soft landing at 6:04 pm local time on August 23, after Russia’s Luna-25 crashed into ...

BLOOMBERG India’s inflation should abate in the coming months as policymakers are taking every possible step to cool down soaring prices, according to a top Finance Ministry official. “I am very confident that it is a temporary spike and will not sustain,” Finance Secretary TV Somanathan said in an interview in New Delhi. “Every instrument in the toolkit is being ...

BLOOMBERG Adani Group said cash and profit generated from its sprawling infrastructure business can cover all the debt maturing each year in the coming decade, as billionaire Gautam Adani tries to restore investor confidence days before India’s markets regulator is due to submit findings from a probe into the group’s alleged wrongdoings. In a credit report, the power-to-port conglomerate said ...

BLOOMBERG India will need to invest $12.7 trillion in its energy system, or more than three times its gross domestic product, to reach net zero emissions by mid-century and help the world avert disastrous planetary warming, according to BloombergNEF. Hitting that target early — ahead of India’s official goal of 2070, which lags the world’s largest economies — will require ...

BLOOMBERG Nasdaq futures rallied as a strong outlook from Nvidia Corp gave fresh impetus to the artificial intelligence (AI) hype that’s boosting tech stocks this year. Nvidia advanced 7.9% in premarket trading after the chipmaker delivered a third straight sales forecast that beat analysts’ estimates, while tech giants such as Apple Inc and Microsoft Corp also rose. Contracts on the ...

BLOOMBERG Chinese real estate stocks are close to losing all the gains notched during last year’s massive reopening rally as troubles mount for the debt-laden sector. A Bloomberg Intelligence gauge of real estate stocks trading on the mainland and in Hong Kong is less than 3% away from piercing below its end-October trough, which was the lowest since 2011. The ...

ABU DHABI / WAM In his capacity as the Ruler of Abu Dhabi, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has issued a law regarding punitive and correctional establishments in Abu Dhabi. The law shall transfer the responsibility of managing punitive and correctional establishments, as well as juvenile facilities in Abu Dhabi, from Abu Dhabi ...

HONG KONG / WAM Albert Wong, CEO of Hong Kong Science and Technology Parks Corporation (HKSTP), has revealed the corporation’s plans to expand its operations and attract more companies from the UAE and the Middle East to explore business opportunities in Hong Kong. Hong Kong is building a green tech and green finance hub, with HKSTP set to host a ...