City Dubai Financial News

COP 28 stands for the 28th meeting of the Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC). It takes place every year, and is the world’s only multilateral decision-making forum on climate change with almost complete membership of every country in the world. This year's COP holds significance in the wake of geopolitical risks that have come to forth after the Israel-Hamas war and Russia's ongoing "special military operation" in Ukraine.

Pollution is causing respiratory illnesses and deaths to rise in Indonesia's island of Java, including the capital, Jakarta

London-based crypto trading and custody firm Copper announced plans to launch a new brokerage platform for digital assets in Abu Dhabi as soon as early next year, the company announced on Wednesday. 

Coinbase users are reportedly receiving emails notifying them that their customer information might be shared with the US Commodities Futures Trading Commission (CFTC) following a subpoena served to Coinbase.

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Aster DM Healthcare share price rallied over 14% to hit a fresh 52-week high on Wednesday after the company approved to sell its GCC (Gulf Cooperation Council) business for over $1 billion. Aster DM shares jumped as much as 14.83% to a new high of ₹382.00 apiece on the BSE. Hospital chain Aster DM Healthcare on Tuesday announced to separate its Gulf business and sell it to its Indian promoters (Moopen family) and a Dubai consortium for $1.001 billion.

TCS: The ₹17,000 crore-share buyback programme of India’s top software services exporter Tata Consultancy Services (TCS) will open on 1 December. The buyback, where investors can sell to the company their shares at an offer price of ₹4,150 apiece, will close on 7 December, TCS said in a regulatory filing on Tuesday. The IT bellwether aims to repurchase up to 40.9 million shares (1.12% of the total equity share capital) at ₹4,150 apiece in a buyback valued at ₹17,000 crore.

Cristiano Ronaldo, Major League Baseball, F1, and Mercedes-Benz and global advertising agency, Dentsu, are among the defendants listed.

Coinbase is warning that it has received a subpoena from the United States Commodity Futures Trading Commission (CFTC), according to X (formerly Twitter) users who have posted copies of the message. The CFTC is seeking information about the Bybit cryptocurrency exchange.

Binance founder and former CEO, Changpeng “CZ” Zhao, has stepped down from the company’s board of directors following his guilty plea to several federal charges last week.

COP28 climate talks on Tuesday as world leaders including US President Joe Biden signalled they would not be attending the negotiations that come during the ongoing Israel-Hamas war roiling the wider Middle East. The two-week meeting of international leaders aims to assess where the world stands when it comes to limiting emissions to slow global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) compared with pre-industrial times. Emirati officials said on Tuesday they expect over 70,000 attendees at the talks, including heads of state. Britain's King Charles and Pope Francis will be among the leaders to attend the talks, even as the 86-year-old Francis battles a lung inflammation.

Isaac Herzog and his Palestinian counterpart Mahmud Abbas will both address the COP28 UN climate talks in Dubai this week, seven weeks into the Israel and Hamas war, officials said on Tuesday. Herzog and Abbas are both scheduled to make speeches lasting three minutes maximum on Friday. Abbas is expected to be in the room when Herzog is speaking, as he is scheduled to address the room only three speakers later. Abbas, head of the Fatah party that leads the Palestinian Authority in the occupied West Bank, has only met Israeli officials on rare occasions. More than 140 heads of state and government are due to address COP28 on Thursday and Friday, the start of nearly two weeks of talks to address the climate crisis, according to a UN list made available on Tuesday.

Former West Virginia coal miner Bo Copley says Biden will try to pander to China on 'The Bottom Line.'

By Valerie Volcovici

The “Global Stocktake": Governments will assess how they are placed to meet the promises of the 2015 Paris deal, and will accordingly chart the actions for the next phase. Energy transition: The phase-out of fossil fuels will again be in the spotlight. Climate finance gap: Crucial, especially with progress on the "loss and damage fund".

Researchers working inside a unit of BlackRock Inc. estimate that a reform of public financial institutions could free up as much as $4 trillion in additional spending to help emerging markets tackle the fallout of climate change.

Crypto investment platforms eToro and M2 received various degrees of approval to offer their services in the United Arab Emirates from the ADGM Financial Services Regulatory Authority, which oversees the UAE’s international financial center, the Abu Dhabi Global Market (ADGM).

industrial powerhouse, home to over a quarter of the world’s manufacturing—more than America and Germany combined. But its progress has come at a cost in terms of emissions. Over the past three decades China has pumped more carbon dioxide into the atmosphere, in total, than any other country (see chart 1).

The Special Investigation Team formed to investigate the alleged $240 million crypto fraud in India will file chargesheet against the three main accused this week.

As the next Conference of the Parties (CoP) to the United Nations Framework Convention on Climate Change approaches, news has emerged that the UN’s Food and Agriculture Organization (FAO) is set to present a plan on emission reduction that will include dietary advice for the rich world, asking its people to curb their meat intake. The average American consumes about 127kg of it annually, although under 16kg is considered healthy and people in some poor countries average less than 4kg. As CoP-28 begins in Dubai later this week, a restraint advisory for heavy consumers is likely to be part of an FAO roadmap for the global agrifood industry to align itself with the Paris pact’s goal of keeping our planet no warmer than 1.5° Celsius above its pre-industrial level.

International Monetary Fund (IMF). In a blog, the IMF's Simon Black, Florence Jaumotte, and Prasad Ananthakrishnan argued that emerging and developing countries (EMDEs) need $2 trillion annually, a fivefold increase from 2020. Even if advanced economies meet or somewhat exceed their promise to provide $100 billion a year, the bulk of the financing for these low-carbon investments will need to come from the private sector, they argued. «Eight years on from the Paris Agreement, policies remain insufficient to stabilise temperatures and avoid the worst effects of climate change.