City Dubai Financial News

By Gloria Dickie

Lakhbir Singh Rode, who was allegedly involved in the 1985 bombing of the Air India jet Kanishka, has passed away in Pakistan due to a heart attack. The news of his demise was confirmed by his brother, Jasbir Singh Rode, who is also a former Akal Takht Jathedar.

DUBAI (Reuters) — Growth in non-oil business activity in Saudi Arabia eased in November from the previous month as a decline in export demand and inflationary pressures weighed, but the outlook was positive as new orders hit a five-month high, a survey showed on Tuesday.

Vladimir Putin will travel to the United Arab Emirates and Saudi Arabia, according to people familiar with the plans, a rare trip abroad for the leader since his invasion of Ukraine. Putin plans to visit Abu Dhabi, UAE, this week, according to one person, who asked not to be identified due to the sensitivity of the topic. He also intends to travel to Saudi Arabia, according to another person.

CARACAS (Reuters) — Guyana will remain vigilant after a Venezuelan referendum rejected an international court's jurisdiction over a territorial dispute between the neighboring countries, Vice-President Bharrat Jagdeo said on Monday.

Kabuki theatre, performative set-pieces lead from one to the other — politicians and celebrities arrive by private jets, speakers predict imminent doom, hectoring NGOs cast blame, political negotiations go overtime and, finally, the signing of a new agreement that most participants hope, and pretend, will make a difference. Despite 27 conferences since the 1990s, with ominous speeches and bold promises, global emissions have increased, punctuated only once, by Covid-19. This year is likely to see higher emissions than ever before. Almost every rich country preaches far more than it delivers.

In recent years, many of the world’s biggest banks have published reports chronicling the vast sums they say they’re channeling into environmental and social activities. Now, senior people inside the industry are raising questions about those statements.

By Valerie Volcovici

Before long, the shortest route has the strongest chemical signature, helping other ants learn to use it, said Tshilidzi Marwala, an artificial intelligence engineer and rector of United Nations University. The «ant-based algorithm» and other learning systems, studied by data scientists, are now being used to reduce inefficiencies in manufacturing processes — one way to cut planet-warming emissions. «Today we have ant-based artificial intelligence algorithms, because (they) are quite efficient,» said Marwala, who is also a U.N. Under-Secretary General, in an interview at the COP28 U.N.

DP World, a global leader in trade and logistics, has set its sights on nurturing a vibrant entrepreneurial ecosystem, bringing together innovation, opportunity, and access to a vast network of industry players. This is the story of the India Business Incubator — a venture designed to redefine the rules of engagement for startups in the region «We launched the India Business Incubator with a clear vision in mind,» says Abdulla Al Hashmi, Chief Operating Officer for Parks & Zones at DP World. “The primary aim is to offer startups a supportive environment, with low starting costs, a business-friendly regulatory framework, and the flexibility to scale up as their business grows,” said Hashmi. The incubator, strategically based in Dubai's Jebel Ali Free Zone (Jafza), operates as a part of the larger Jafza network, providing access to industry events and a valuable community of trading and logistics companies. The ultimate vision behind this initiative is to create a thriving ecosystem where Indian startups can scale up, gain a competitive edge, and successfully navigate the challenging global market. The DP World India Business Incubator stands apart in the region for two distinct reasons.

Chhattisgarh chief minister Bhupesh Baghel «funded» the Congress party's campaign in the assembly polls in Himachal Pradesh «from money received through the Mahadev app scam», and added that further investigations would reveal the truth. Thakur, the leader of opposition in the state, targeted Baghel a day after the Congress leader lost the chief minister's post following the Congress's defeat to the BJP in the Chhattisgarh assembly polls.

By Simon Jessop, Maha El Dahan and Hadeel Al Sayegh

Accel Partners, Evolvence India, Sistema Asia Fund, Foundamental Gmbh and Nexus Venture Partners as its other investors. In June 2022, the company raised $50 million in growth capital from Liquidity Group’s MARS Unicorn Fund, valuing it at $2.5 billion. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market uses technology to provide a procurement experience for players in the construction ecosystem.

Mint breaks down why. The country's newly elected President Mohamed Muizzu said India and the Maldives have reached an agreement to secure the withdrawal of Indian military personnel in the country. As a candidate, Muizzu had called for the removal of any foreign military personnel and followed up this request soon after taking office during a meeting with union minister Kiren Rijiju.

At least 1,300 employees of organizations representing fossil fuel interests registered to attend this year’s United Nations climate talks in Dubai

Israel's military increased airstrikes on Hamas targets in southern Gaza, a widening front in the war, as each side ruled out further talks toward a renewed cease-fire. Israel pulled its negotiating team from Qatar, denting hopes that a seven-day cease-fire, accompanied by exchanges of hostages and prisoners, would be extended.

GDP emission intensity by 33 per cent between 2005 and 2019, achieving the target 11 years in advance, according to a government report. The report also said India's GDP grew at a cumulative annual growth rate of 7 per cent but its emissions rose by only 4 per cent per year during this period, suggesting that the country has been successful in decoupling its economic growth from planet-warming greenhouse gas emissions.

India is one of the bright spots in the global renewable and clean energy sector. Its RE portfolio is around 132 GW, with a target of 450 GW by 2030. India's energy basket is now 43% non-fossil fuel-based, which will be ramped up to 50% by 2030.

Narendra Modi and Maldives newly elected President in their maiden meet held in Dubai discussed the issue of presence of India’s military platforms in Maldives that are engaged in humanitarian missions and the bilateral core group set up by the two leaders will discuss operational matters of platforms. “We have seen reports about status of Indian platforms in Maldives engaged in HADR activities. The continued usefulness of the Indian platforms as it was recognised in discussions needs to be looked at in a proper perspective.

DUBAI—World leaders gathered for climate talks in this oil-rich corner of the globe amid sharp divisions over how quickly governments need to wean their economies off fossil fuels to prevent the planet from blowing past the Paris accord’s temperature targets. Vice President Kamala Harris was expected to join Brazilian President Luiz Inácio Lula da Silva, French President Emmanuel Macron and a host of leaders from across the Gulf region Friday at the start of a two-day summit to kick off the United Nations’ annual climate talks, known as COP28.

By Gloria Dickie