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Megha Merani

Senior editor

Megha Merani is a Dubai-based journalist covering the Middle East. Bylines include Reuters, Bloomberg Middle East and Arab News. Member of the Oxford Climate Journalism Network

Megha Merani
Cop28 Director General Majid Al Suwaidi talks to the media regarding progress on the Cop28 global stocktake

Cop28 denies ‘favouritism’ in fossil fuel wording

The UN climate talks in Dubai stretched past the Tuesday morning deadline set as tensions mounted over a deal that departed from committing to a phase-out of fossil fuels.  The latest draft of the global stocktake sparked fury from climate activists and politicians last night. Majid Al Suwaidi, director-general of Cop28, told a press conference […]

UAE fossil fuels, fossil fuel phase down, fossil fuel phase out

UAE softens on fossil fuel wording, observers say

The UAE, one of the world’s largest oil producers, is considering supporting an unprecedented agreement towards ‘phasing out’ fossil fuels, observers have told AGBI. Some suggest the parties may agree to a phase-out in easier-to-abate sectors such as power generation, where reducing greenhouse gas emissions can be achieved with existing renewable technologies like solar or […]

The UAE bankruptcy law seeks to 'strike a balance between the rights of creditors and the interests of debtors'

UAE sets up bankruptcy court to rule on disputes

The UAE is overhauling its bankruptcy and restructuring law, introducing a specialist court to oversee disputes. The legislation – formally Federal Law Decree No 51 of 2023 – comes into force on May 1, 2024, and replaces the 2016 bankruptcy framework. It will emphasise the importance of amicable resolutions, broadening the scope for debtors to […]

Delegates at Cop28 in Dubai. Discussions about phasing out or phasing down fossil fuels – and how quickly – are continuing at the climate summit

No transition without fossil fuels, says GCC energy chief 

As Cop28 negotiators tussle over the future of fossil fuels, a senior GCC official has suggested there will be no energy transition without them. Dr Mohammed Al Rashidi, director of energy and economic affairs at the GCC’s general secretariat, told AGBI at the climate summit: “If fossil fuels were gone from tomorrow, everything would shut […]

The group of UAE banks will increase financing for new innovations, ecosystem restoration and biodiversity preservation

UAE banks to increase green financing to $272bn

Major national banks in the UAE are to boost their green financing commitments, aiming to exceed a collective AED1 trillion ($272 billion), sources have told AGBI. The banks aim to accelerate financing in areas such as assisting businesses in transitioning to zero carbon emissions, particularly in harder to abate and small and medium-sized enterprise sectors.  […]

Critics are concerned the loss and damage fund won't go far enough to help poorer countries disproportionately affected by climate change

Climate negotiator highlights gaps in loss and damage fund

A climate negotiator has raised concerns about substantial structural and operational gaps in the United Nations-administered “loss and damage fund” announced on Thursday at the Cop28 climate conference in Dubai. The first big deal of the event, negotiators officially agreed to set up a $100 billion fund that aims to provide financial support to developing […]

US vice president Kamala Harris announced a further pledge to help combat climate change

US launches plans to curb methane emissions

The United States has announced a comprehensive plan to target methane emissions from the country’s oil and gas sector – a critical step in the global effort to curb emissions contributing to climate change. The US Environmental Protection Agency (EPA) introduced policies banning routine flaring of natural gas from new oil wells, mandating leak monitoring […]

'National emissions trading systems are essential to create a global carbon price,' said the European Energy Exchange

Carbon capture and storage not a ‘miracle’ climate cure

A new study has strongly criticised fossil fuel-producing states for incorporating carbon capture and storage (CCS) in their climate strategies, claiming the technology is being used to extend the shelf life of oil companies rather than as a climate action tool. As Cop28 kicked off in Dubai, analysis by US-based non-profit environmentalist organisation Oil Change […]

Smart contact lens creators Valentyn Volkov and Roman Axelrod

The Dubai startup with smart contact lenses in its sights

In 1508, Leonardo Da Vinci sketched the concept of contact lenses in his Codex of the Eye, laying the groundwork for enhancing human sight.  Fast forward a few centuries, and this early idea has evolved dramatically. Today’s contact lenses are on the brink of another step forward. New technology goes beyond correcting vision to display […]

City, Metropolis, Urban

Brevan Howard to double Abu Dhabi headcount

Brevan Howard, one of the world’s biggest hedge funds with assets exceeding $33 billion, is to double its workforce in Abu Dhabi next year. The UK company initiated its Middle East expansion by opening an office in Abu Dhabi Global Market in February, joining an increasing number of hedge funds drawn to the region’s substantial […]

Samir Assaf, Mena chairman at General Atlantic, said the company is preparing 'three or four more investments' in the region

US private equity giant General Atlantic opens Gulf offices

Global private equity firm General Atlantic, which manages $77 billion in assets, is opening offices in the UAE and Saudi Arabia. The company has been investing in the Middle East since 2015 without a local base, but is now establishing a stronger foothold as it nears the completion of new investment deals in the region. […]

The Pointe on Palm Jumeirah is one of many Dubai destinations undergoing redevelopment

Dubai real estate faces price drop of up to 10%, says S&P

Dubai’s real estate market is poised for a 5 to 10 percent slump in prices in the next 12 to 18 months, an analyst said on Wednesday. The shift in the market – an important driver of the emirate’s economy – will be driven by imbalances in supply and demand, according to Tatjana Lescova, associate […]

Robot doctor

UAE’s medical AI ‘will not replace doctors’

The UAE’s unveiling of a homegrown clinical artificial intelligence program is a breakthrough in healthcare technology say industry experts, but AI will not yet replace doctors talking to patients. M42, an offshoot of G42 Healthcare and Mubadala Health and based in Abu Dhabi, announced last month that it had built a clinical Large Language Model […]

UAE Revolut

UK fintech firm Revolut sets up in UAE

The British fintech firm Revolut is expanding to the UAE in what experts believe is the start of a wave of similar UK companies setting up in the region. The digital platform, which offers banking and trading services through an app, is recruiting for legal and strategy roles in Dubai. The company has hired Jonathan […]

Companies may face financial sanctions – and worse – for operating cryptocurrency without a licence Video length: 06:16

UAE to clamp down on unlicensed crypto operators

Unlicensed cryptocurrency operators in the UAE may face civil and criminal penalties, according to the anti-money laundering division of the UAE Central Bank. Companies, owners and senior managers could also face financial sanctions. The UAE National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organizations Committee issued the directive this week. The […]

PIF submitted a request to increase its stake in Egypt's E-Finance Company almost a month ago

UAE and UK sign agreement to boost fintech

The UK and the UAE have signed an agreement to strengthen ties on financial services that its backers hope will provide a boost to fintech. The Memorandum of Understanding (MoU), signed in Dubai late last week by Andrew Griffith, UK City minister, and Abdulla bin Touq Al Marri, UAE minister of economy, seeks to promote […]

Dubai Creek Tower

Apartment prices rise on news of Dubai Creek Tower revamp

The price of Dubai apartments with a view of what is intended to be the world’s tallest building have risen by nearly 10 percent since the project’s redesign was announced in August. Property developer Emaar hopes to start work on the revamped $1 billion Dubai Creek Tower next year. Sidharth Kumar, a real estate agent […]

Mena startup exit shortage

Mena startup exit shortage looming – VC fund CEO

The Middle East faces a looming shortage of startup exits, despite a substantial pool of capital available in the region, according to a leading venture capital fund CEO. In mature markets such as the US, private corporations routinely make multibillion-dollar bids to acquire potential future rivals or emerging startups poised for substantial growth. But this […]

Jack Selby says there are many opportunities for acquisition in the Middle East following his experiences with PayPal

Gulf’s ‘copycats’ still attractive to Silicon Valley

Copycat companies in the Middle East are still an attractive acquisition option for Silicon Valley giants because the risk of trying to establish themselves in the region is too high, according to Thiel Capital managing director Jack Selby. The Middle East has been criticised for mimicking startups from other parts of the world, rather than […]