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John Bass, US undersecretary of state, will visit Jordan this week

US senior official in Jordan to discuss bilateral issues

US undersecretary of state John Bass will arrive in Jordan on Monday to discuss a range of bilateral issues and this week’s $845 million cash transfer to support the Arab state. During meetings with senior Jordanian government officials Bass will also discuss efforts to de-escalate regional conflicts, the US Department of State said in a […]

Muhammad Al Jasser of the Islamic Development Bank, second from left, at the United Nations Convention to Combat Desertification in Riyadh

Arab funds pledge $10bn to fight desertification

The Arab Coordination Group, an alliance of 10 development funds, is to provide $10 billion by 2030 to combat land degradation, desertification and drought, it was announced on the second day of the United Nations Convention to Combat Desertification event in Riyadh.  The commitment brings the total pledged to these interrelated causes at the two-week […]

A woman sorts plastic bottles in Quezon City, Philippines. 170 nations took part in the latest round of UN talks

Latest talks on global plastics treaty end in stalemate

Negotiations over creating a legally binding global treaty to combat plastic pollution adjourned on Monday with the 170 participating nations failing again to reach agreement. Some oil-producing countries, including Saudi Arabia and Russia, objected to proposals supported by more than 100 other nations to limit plastic production, Reuters reported. Plastics are made from hydrocarbons – […]

Experts says attendees at the Cop29 conference must agree binding rules on carbon credits to improve reliability and trust

Governments urged to agree carbon credit rules at Cop29

Experts have said governments need to reach binding agreements on carbon credits at Cop29 underway in Baku, Azerbaijan, to improve transparency, accountability and quality.  Among the topics being debated over the two weeks at the UN conference is Article 6 of the Paris Accord, which aims to help set rules on global carbon trade.  Countries […]

The United Nations climate change conference Cop29 is being held in in Baku, Azerbaijan

US and EU leaders to skip Cop29 climate summit

World leaders from major economies including the United States, the European Union and Brazil are planning to miss this year’s United Nations climate change summit (Cop29) in Baku, Azerbaijan. European Commission president Ursula von der Leyen will not attend the Cop29 climate summit because of political developments in Brussels, a commission spokesperson told Reuters on […]

A UN report says 'Bahrain has established itself as a digital development leader' Bahrain GDP economy

Transport and finance help Bahrain overcome oil slump

Bahrain’s economy expanded by 1.3 percent in the second quarter of 2024, thanks to double-digit growth in some of its non-oil sectors.  The ministry of finance and national economy said 2.8 percent growth in its non-oil sector, which accounted for 85 percent of gross domestic product in Q2, helped to offset a 6.7 percent decline […]

Israelis take shelter during Iran's missile attack. Oil prices have jumped over fears of a wider war

Oil prices jump 3% as Middle East conflict intensifies

Oil prices rose by more than 3 percent on Wednesday as Israel vowed retribution for Iran’s ballistic missile attack on its regional adversary. The conflict has intensified rapidly, with Israel also ordering more soldiers into Lebanon to battle the Iran-backed group Hezbollah. There is little sign of de-escalation despite international pleas. That has sent oil […]

Protestors against climate change

UN calls for more in pre-Cop28 climate progress review

More action is needed to make progress in the fight against climate change, the United Nations has said in the lead up to Cop28. The UN Framework Convention on Climate Change (UNFCCC) analysed 195 commitments outlining the steps countries plan to take to cut their greenhouse gas emissions and adapt to climate change.  By current […]

Villagers collect drinking water in Antananarivo, Madagascar. The region is facing drinking water shortages due to both drought and floods

Cop28 and UN near deal on $100bn climate damage fund

The UAE’s Cop28 presidency, the United Nations and its partners have moved a step closer to setting up a fund to help vulnerable countries recover from damage caused by climate change.  The plan to create a climate “loss and damage” fund was hailed as a breakthrough for developing country negotiations at Cop27 in Egypt last […]

Ray Dalio, the billionaire founder of Bridgewater Associates, spoke on the opening day of the UN Conference on Trade and Development's World Investment Forum in Abu Dhabi

Rich nations can’t pay for entire world, says hedge fund guru

The founder of the world’s largest hedge fund has told a UN investment conference that the governments of developed countries cannot be expected to take care of the rest of the world. Ray Dalio of Bridgewater Associates, the US-based fund with $124 billion of assets under management, said those nations’ financial burdens were too big […]

Dr Sultan bin Ahmed Al Jaber, Cop28 president-designate, opened trading on Wall Street at the New York Stock Exchange on Tuesday

Fossil fuel phase-down ‘inevitable’ says Al Jaber

Cop28 president-designate Sultan Al Jaber this week implored world leaders to cut reliance on fossil fuels to meet carbon reduction targets.  Addressing the UN Climate Ambition Summit in New York, Al Jaber – who is also group chief executive of Abu Dhabi National Oil Company – urged nations to fast track the transition to a […]