Energy UAE’s Masdar to develop onshore wind farm project in Egypt UAE’s renewable energy firm Masdar has signed an agreement with its Egyptian partners to develop a 10-gigawatt (GW) onshore wind farm project in Egypt, the UAE state-owned WAM news agency reported. The partners include Infinity Power Holding, a joint venture between Masdar and Egyptian renewable energy developer Infinity, and Hassan Allam Utilities. UAE President Sheikh Mohamed […] November 9, 2022
Cop28 Countries band together to keep forest promise More than 25 countries at the Cop27 climate talks on Monday launched a group they said would ensure they hold each other accountable for a pledge to end deforestation by 2030 and announced billions of dollars to finance their efforts. The first meeting of the Forest and Climate Leaders’ Partnership, chaired by Ghana and the […] November 8, 2022
Cop28 What to watch on Tuesday at Cop27 World leaders will take the stage again on Tuesday as the Cop27 climate summit enters its second full day. Among the expected speakers are outspoken advocates for measures to compensate poor, climate-vulnerable countries for damage already being wrought by global warming. They include Prime Minister Shehbaz Sharif of Pakistan, which was recently hit by devastating […] November 8, 2022
Cop28 Finance challenges burden Egypt’s clean energy goals A week before Cop27 began, the governor of South Sinai, Khaled Fouda, declared Sharm el-Sheikh “the first environmentally friendly tourist city in the Middle East.” His announcement marked the conclusion of the five-month “Green Sharm El-Sheikh” project, which introduced hundreds of electric cars, hybrid and hydrogen buses, and numerous vehicle charging points to the city […] November 8, 2022
Energy President: UAE will remain responsible supplier of oil and gas The UAE will be a responsible supplier of oil and gas for as long as the world needs, President Sheikh Mohammed Bin Zayed Al-Nahyan said at the start of two weeks of climate talks in Egypt. He added that the Gulf nation, which is one of OPEC’s biggest producers but has also invested in renewable […] November 8, 2022
Energy Kuwait commits to be carbon neutral in oil and gas by 2050 Kuwait is committed to becoming carbon neutral in the oil and gas sector by 2050 and across the country by 2060, foreign minister Salem Al-Sabah told state news agency Kuna. The minister said Kuwait’s plan, a major oil exporter and member of Opec, to achieve carbon neutrality is “a solid and serious commitment to which […] November 8, 2022
Sustainability DP World to invest $500m to cut CO2 emissions over five years Dubai-owned ports giant DP World plans to invest up to $500 million to cut CO2 emissions from its operations by nearly 700,000 tonnes over the next five years, UAE state-owned WAM news agency reported, citing chairman and group CEO Sultan Ahmed Bin Sulayem. He reinforced the company’s commitment to sustainability by taking on the Green […] November 8, 2022
Sustainability What to watch at Cop27 summit in Egypt on Monday Leaders from around the globe will begin making speeches at the UN climate summit in Egypt on Monday as they seek to whip up ambition in the fight against global warming. But their messages will likely differ a lot on key points, and their soaring rhetoric will at times clash with performances that have lagged […] November 7, 2022
Analysis Cop28 ‘Loss and damage’ to take centre stage at Cop27 The United Nation’s Cop27 summit has opened in Egypt with secretary-general Antonio Guterres stating that climate change is happening with “catastrophic speed” and the planet is sending a “distress signal”. More than 120 world leaders are due to arrive at the Cop27 summit being staged in the Red Sea resort of Sharm el-Sheikh. This will […] November 7, 2022
Sustainability Egypt to become Africa’s hub for carbon certificates trading Egyptian Exchange Holding Company for Capital Markets Development, Agricultural Bank of Egypt and Libra Capital Group have signed an agreement to establish a carbon certificates trading company, according to Egypt Today newspaper. The report said no financial and organisational details of the new company were given. Egyptian Stock Exchange executive chairman Ramy El-Dakani said the […] November 7, 2022
Sustainability UK PM to ask leaders to deliver on global warming promises British prime minister Rishi Sunak will on Monday use a speech at the United Nations climate summit in Egypt to tell world leaders to deliver on their promises to tackle global warming. Sunak, who became prime minister late last month, had initially said he would be too busy coming up with a plan to fix […] November 7, 2022
Sustainability Cop27 climate talks in Egypt are set to get heated The Cop27 climate talks, which begin on Sunday in Sharm El-Sheikh, Egypt on behalf of Africa face the challenges of an energy crisis and the war in Ukraine. These impactful events have dramatically changed the geopolitical context of Cop since Cop26 was held in the UK city of Glasgow last year. A key question expected […] November 6, 2022
Cop28 Egypt to sign 9 projects with $15bn investments at Cop27 Egypt’s Ministry of International Cooperation plans to sign contracts for nine projects with investments worth $15 billion at the Cop27 climate summit. The projects fall in the water, food and energy programme, which is a regional and international approach to move from the pledges stage to the implementation stage, reported Egypt Today, citing a ministry […] November 3, 2022
Analysis Tech Cairo is the tech hub of Africa – and it’s just getting started Almost 20 percent of African tech startups are based in Egypt, and the vast majority in its sprawling capital of 10 million inhabitants. Egypt is Africa’s tech hub and Cairo is its heart. According to Access Partnership, a public policy consultancy focused on technology, more than a third of Egypt’s startups have benefited from national […] October 28, 2022
Analysis Sustainability Revealed: Gulf climate targets – and the progress so far The economies of the Middle East differ greatly in size and diversity – partly because of the distribution of oil and gas resources. Their impact on the climate varies accordingly. Governments’ willingness and ability to tackle climate change also differs. Many oil-rich Gulf states are engaged in high-profile renewable energy projects, for example, yet their […] October 26, 2022
Analysis Sustainability Egypt’s Cop27 will see developing nations call for ‘climate justice’ Drought and famine haunt the Middle East. The Dead Sea has fallen to its lowest level in centuries. Starved of food and fresh water, desperate migrants criss-cross the Mediterranean, fomenting social unrest and violence. Within a few decades, a healthy global trade network has collapsed. Every major settlement has been abandoned or razed to the […] October 21, 2022
Analysis Tourism Pyramid selling: Egypt wants to get tourism back on its feet The Grand Egyptian Museum, a $1 billion mega-project close to the Giza pyramids, will open to the public next month. The opening, which coincides with the COP27 climate change conference in the resort town of Sharm el-Sheikh, is an opportunity to focus attention on a tourism industry that has been blighted by terrorism, conflict and […] October 17, 2022
Analysis Economy Egypt aims to double private sector to tackle economic woes Weakened by the consequences of the war in Ukraine, Egypt has been forced to negotiate a new loan from the International Monetary Fund and wants to double the private sector’s share in its economy. By 2025 Egypt’s government wants the country’s private sector’s investment contribution to more than double to 65 percent from the current […] October 17, 2022
Analysis Manufacturing Egypt’s industrial sector ‘building on strong foundations’ Egypt defied global trends – and the expectations of many – to grow throughout the coronavirus crisis. With its sizeable population, rising middle class and tech-savvy population, the country “showed resilience in the face of the pandemic” and is forecast to record GDP growth of 5.9 percent in 2022, according to the International Monetary Fund. […] October 17, 2022
Analysis Development The Golden Triangle: treasures of the Eastern Desert In Ancient Egypt, real wealth was measured in grain. Temple granaries were the reserve banks of their day, with gold and silver seen as lesser commodities. “In my brother’s country, gold is as plentiful as dirt,” marvelled one foreign king in a begging letter to Pharaoh Amenhotep III. Even so, mining was a serious business. […] October 17, 2022
Economy Egypt’s non-oil sector hit by weak demand, home and away Egypt's non-oil output fell in September, a 13th consecutive month of contraction, as exports dropped sharply too October 4, 2022
Sustainability Egypt wants to discuss climate change compensation at Cop27 Egypt, which is hosting the upcoming Cop27 climate negotiations, is working on how to include compensation for economic losses due to climate catastrophes on the formal agenda of the November summit, as pressure grows from vulnerable countries to prioritise the issue, the country’s special representative of the summit said on Wednesday. Wael Aboulmagd, Egypt’s special […] September 29, 2022
