COP28 Focuses on Protecting Health from Climate Risks

Participants walk next to COP28 flags in Expo City in Dubai (AFP)
Participants walk next to COP28 flags in Expo City in Dubai (AFP)
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COP28 Focuses on Protecting Health from Climate Risks

Participants walk next to COP28 flags in Expo City in Dubai (AFP)
Participants walk next to COP28 flags in Expo City in Dubai (AFP)

UN Climate Conference (COP28) focused on climate-related health issues, while discussions behind closed doors addressed vital other problems, such as the future of energy.

The UAE and several charities at the climate summit on Sunday offered $777 million in funding to eradicate neglected tropical diseases that are expected to worsen as temperatures rise.

COP28 President Sultan Ahmed al-Jaber said in a statement that climate-related factors "have become one of the greatest threats to human health in the 21st century."

The pledges made during the summit on Sunday, which focused on climate-related health risks, included $100 million from the UAE and another $100 million from the Bill & Melinda Gates Foundation.

Others to announce funds for climate-related health issues included Belgium, Germany, and the US Agency for International Development (USAID).

The World Bank launched a program to explore possible support measures for public health in developing countries where climate-related health risks are incredibly high.

The burden of tropical diseases will worsen as the world warms, along with other climate-driven health threats, including malnutrition, malaria, diarrhea, and heat stress.

More than 120 countries have signed a COP28 declaration acknowledging their responsibility to keep people safe amid global warming.

Climate change also increases the frequency of dangerous storms and more erratic rainfall.

In September, Storm Daniel killed more than 11,000 people in Libya, and last year's massive flooding in Pakistan fueled a 400 percent increase in malaria cases across the country, according to the World Health Organization (WHO).

Earlier on Sunday, Microsoft co-founder Bill Gates said scientists were working on new treatments for and prevention of mosquito-spread malaria as the rise in temperatures creates more hospitable habitat for the insects to breed.

"We have new tools at the lab level that decimate mosquito populations," said Gates, whose foundation supports public health research and projects for the developing world.

"These innovations give us a chance, at a reasonable cost, to make progress."

Former US Secretary of State Hillary Clinton spoke on Sunday, urging reform of the global insurance system as another key demand to keep people safe.

"Right now, insurance companies are pulling out of so many places; they're not insuring homes, they're not insuring businesses," Clinton said, addressing a panel on women and climate resiliency.

She continued, "People everywhere will be left out with no backup, no insurance for their business or home."

Meanwhile, Emirates News Agency (WAM) quoted a senior World Bank official saying that the bank had offered to host the Lost and Damage Fund.

Speaking to WAM, World Bank's Senior Managing Director (SMD) Axel van Trotsenburg said the agency will "work very closely with the United Nations Framework Convention on Climate Change (UNFCC) to create that fund."

Van Trotsenburg mentioned that countries face different challenges related to climate change.

"COP28 started with great announcements on the Loss and Damage Fund. It has been an extremely important decision and now needs to be set up."

He pointed out that small island countries with rising sea levels face different challenges than coastal regions. Therefore, solutions must be tailored to each country, but there is a global challenge.

"We need to be global. We need all countries to participate in this global challenge," van Trotsenburg noted, adding, "We need to ensure that we can keep the 1.5 degrees. So that means consequences for all of us."



Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
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Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)

Türkiye Petrolleri (TPAO) has signed a partnership agreement with Shell to carry out exploration work in Bulgaria's maritime zone, the Turkish energy ministry and British oil major said on Wednesday.

European Union member Bulgaria, which had been totally dependent on Russian gas until 2022, has been seeking to diversify its gas supplies and find cheaper sources, Reuters reported.

TPAO and Shell will jointly explore the Khan Tervel block, located near Türkiye's Sakarya gas field, and will hold a five-year licence in Bulgaria's exclusive economic zone, Minister Alparslan Bayraktar said.

Shell will continue as operator of the block, while TPAO will take a 33% interest in the licence, a Shell spokesperson said.

Since the start of this year, TPAO has signed energy cooperation agreements with ExxonMobil, Chevron and BP for possible exploration work in the Black Sea and the Mediterranean.

In April, Shell signed a contract with Bulgaria's government to allow the oil major to explore 4,000 square metres in the block.


Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
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Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA

Saudia Airlines has signed a five-year strategic partnership with Six Flags and Aquarabia Qiddiya City, becoming the official premier partner exclusively in the airline category.

As part of the partnership, Saudia will develop special travel packages designed to enable visitors to experience world-class attractions. The collaboration also brings the spirit of Six Flags and Aquarabia Qiddiya City to the skies through special aircraft branding across Saudia’s fleet, SPA reported. 

Chief Marketing Officer of Saudia Group Khaled Tash said in a press release: "Saudia is committed to supporting national development projects as part of its contribution to Vision 2030, aligned with our strategy to bring the world to the Kingdom. Partnerships of this scale with national partners play a key role in positioning Saudi Arabia as a leading global destination for entertainment and tourism."

Park President of Six Flags and Aquarabia Qiddiya City Brian Machamer added: "Our partnership with Saudia not only reflects a shared ambition to connect the Kingdom to the world through world-class entertainment experiences, but strengthens our ability to attract visitors from around the world and realize our vision of setting a new global benchmark for immersive, world-class theme park entertainment and reinforcing Saudi Arabia’s growing presence on the global tourism stage."

Six Flags Qiddiya City sets a new benchmark for exceptional entertainment regionally and globally. Spanning six iconic themed lands, the theme park takes visitors on an immersive journey across 28 rides and attractions designed to world-class standards. Beyond the scale and diversity of its offerings, Six Flags Qiddiya City stands out for pushing the boundaries of engineering and entertainment, featuring five exclusive, record-breaking rides that have redefined global benchmarks. Leading these innovations is Falcons Flight, the roller coaster that has captured global attention as the fastest, tallest, and longest in the world.

Aquarabia Qiddiya City delivers a distinctive aquatic entertainment experience, offering 22 rides and water attractions, along with a man-made river designed for both relaxation and family-friendly water fun. For guests seeking privacy and elevated comfort, Aquarabia features 91 luxury cabanas, positioning the destination as a fully integrated leisure offering that redefines water-based entertainment to the highest international standards.

Located in the Tuwaiq Mountains near Riyadh, Qiddiya City is an emerging destination bringing together entertainment, sports, and culture. Six Flags and Aquarabia Qiddiya City form part of its entertainment offering.


Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
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Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)

Moody’s Corporation announced that it has established its regional headquarters in Riyadh, reflecting ongoing commitment to support the development of the Kingdom’s capital markets and economy.

“This investment aligns to the Kingdom's Vision 2030 initiative and underscores its dynamism and growth,” Moody’s said in a statement this week.

The new regional headquarters marks an expansion of Moody’s presence in Saudi Arabia, where the company first opened an office in 2018, and reflects its longstanding commitment to the Middle East.

“The headquarters will strengthen Moody’s engagement with Saudi institutions and enable broader access to Moody’s decision grade data, analytics and insights,” said the statement.

“Our decision to establish a regional headquarters in Riyadh reflects our confidence in Saudi Arabia’s strong economic momentum, as well as our commitment to helping domestic and international investors unlock opportunities with our expertise and insights,” said President and Chief Executive Officer of Moody’s Rob Fauber.

“We are well positioned to provide the analytical capabilities and market intelligence that investors and institutions need to navigate evolving markets across the Middle East,” the statement quoted him as saying.

Mahmoud Totonji will lead the regional headquarters as General Manager.