EXCLUSIVE Sustainability UAE’s Al Suwaidi backs Al Jaber after Cop28 criticism By Shruthi Nair June 6, 2023, 8:45 AM Dr Sultan Al Jaber’s record “speaks for itself”, a senior UAE official has told AGBI. The Emirates government is facing fresh criticism from international media and lawmakers over the oil chief’s appointment to oversee the Cop28 climate summit later this year. Al Jaber oversees UAE oil giant Adnoc, is minister of industry and advanced technology and serves as the chairman of state-owned renewable energy company Masdar. You may also be interested in … The UAE has a difficult path to negotiate Bold, practical, ambitious: delivering on Cop28 Climate change is too serious to be left to environmentalists “Dr Sultan Al Jaber has a strong record when it comes to promoting renewable energy and establishing Masdar from scratch,” said Omar Al Suwaidi, undersecretary of the UAE Ministry of Industry and Advanced Technology, during an exclusive video interview at the Make it in the Emirates forum last week. “He walks the talk,” he added. In May more than 100 US and EU lawmakers signed a letter calling for Al Jaber to be removed from his Cop28 role, citing his “conflict of interest”. Cop28 will mark the first global stocktake since the Paris Agreement in 2015. It will be held at the former site of Expo 2020 Dubai from November 30 until December 12. Watch the video interview to see Omar Al Suwaidi’s comments in full.
Economy Bahrain debt hits $48bn but analyst downplays spending fears Bahrain’s public debt has risen to almost BHD18 billion ($48 billion), according to its ministry of finance, but a banking expert has downplayed concerns over its spending. Bahrain, the smallest country in the GCC bloc of six with a population of almost 1.5 million people, has dwindling reserves of oil and gas. It is partially […] 2 hours ago
Construction Eagle Hills signs contract for Budapest redevelopment Abu Dhabi-based developer Eagle Hills has signed a real estate purchase agreement with Hungary to start work on transforming a rundown area of Budapest. The project, spanning an area of 100 hectares, will have a development cost of more than €12 billion ($12.3 billion), the developer said in a statement. The project is supported by the […] 1 min ago
Finance Kuwait ministries free to increase public service charges Kuwait issued a decree on Sunday that will allow ministries to set charges for public services for the first time in 30 years. The decree, which abolishes a 1995 law, gives ministries authority to decide on fees and costs for public services, which will then be approved by the cabinet. The government aims to better […] 11 mins ago
Economy Lebanon and Sudan swell Arab countries’ public debt Public debt in Arab countries swelled by nearly $142 billion at the end of 2023, mainly because of a sharp rise in obligations by Lebanon and war-battered Sudan. Total debt increased despite a fall in Egypt’s public, mostly domestic, dues as a result of a large depreciation in the pound against the US dollar. The […] 1 hour ago
