Saudi Arabia will make an investment of about $30 billion in South Korean companies, with the leaders of both the countries pledging stronger ties on Thursday in the fields of energy, defence, and construction. South Korean President Yoon Suk-yeol held talks in Seoul with Saudi Arabia's Crown Prince Mohammed bin Salman, who arrived on Thursday from Bali, Indonesia, where both the leaders attended the summit of Group of 20 (G20) major economies. Prince Mohammed underlined the role of South Korean companies in the development of Saudi Arabia's national infrastructure over the years a
Singapore will join the Article 6 Implementation Partnership that will coordinate international capacity-building efforts to promote the trade of carbon credits to help realize carbon markets around the world, said the country at COP 27 in Sharm El-Sheikh, Egypt. Carbon markets, covered under Article 6 in the Paris Agreement, will facilitate countries and companies to buy and sell carbon credits that could help them to decarbonise and slash emissions in a cost-effective manner. The Article 6 Implementation Partnership was launched by Japan’s Environment Ministry on the sidelines of the C
Indonesia handed over the G20 presidency to India for the coming year as the Bali summit of the grouping ended on Wednesday with the member states signing the joint declaration. Indonesian President Joko Widodo handed over the G20 presidency to Prime Minister Narendra Modi at the handing over ceremony at the conclusion of the two-day summit. Taking over the presidency of the G20 Summit, Prime Minister Narendra Modi called it a matter of pride for every citizen in India, and said the G20 summit can be made a 'catalyst for global welfare'. He said that India's G20 presidency will be inclusiv
Industry bodies and associations representing key low-carbon technologies, wind, solar, hydropower, green hydrogen, energy storage and geothermal sectors, have joined hands to found a new global alliance, Global Renewables Alliance, at the 2022 United Nations Climate Change Conference in Egypt, to help accelerate the use of renewable energy globally. The International Geothermal Association, Global Wind Energy Council, Long Duration Energy Storage Council, Green Hydrogen Organisation, International Hydropower Association, and the Global Solar Council are part of the Global Renewables Allia
World Health Organization Director-General Tedros Adhanom Ghebreyesus on Tuesday thanked Prime Minister Narendra Modi for joining forces with the world health body on hosting and building the global traditional health centre. Prime Minister Narendra Modi, World Health Organisation chief Ghebreyesus and Mauritius Prime Minister Pravind Jugnauth laid the foundation stone for the WHO Global Centre for Traditional Medicine (GCTM) in Gujarat’s Jamnagar city in April this year. The centre, supported by India’s investment of $250 million, aims at exploiting the potential of traditiona
Seven countries – Bangladesh, Costa Rica, Fiji, Ghana, Pakistan, the Philippines and Senegal – will be the first recipients of immediate funding from the G7 ‘Global Shield’ initiative launched to support countries suffering from climate disasters. The initiative was launched on Monday at the ongoing United Nations’ COP27 climate summit in Egypt. Coordinated by the G7 president nation Germany, the Global Shield programme aims to provide rapid access to funds for insurance and disaster protection after flooding, drought and hurricanes. The programme was developed in collaboration w
Liberal rights advocate Natasa Pirc Musar has won a run-off vote to become Slovenia’s first female president since the country became independent after the break-up of Yugoslavia in 1991. Since no candidate won an outright majority in the first round of the Slovenian election on October 23, a run-off was held on November 13 between conservative candidate Anže Logar and lawyer Natasa Pirc Musar. With nearly all of the votes counted, Pirc Musar led Slovenia’s conservative former Foreign Minister Anze Logar by 54 percent to 46 percent. A prominent lawyer, Pirc Musar, 54, had repr
Prime Minister Narendra Modi is on a formal visit to Bali, Indonesia, from November 14-16, to attend the 17th G20 Summit. The summit is also likely to be attended by US President Joe Biden, British Prime Minister Rishi Sunak, French President Emmanuel Macron and German Chancellor Olaf Scholz, among others. The summit will see G20 leaders deliberating extensively upon key global issues under the Summit theme of "Recover Together, Recover Stronger”. The three working sessions will be on food and energy security; health; and digital transformation. The Indian Prime Minister will hold bil
The multilateral naval exercise, Malabar 2022, between India, Japan, the United States and Australia began on Wednesday at Yokosuka in Japan. The opening ceremony was hosted by the Japan Maritime Self-Defense Force (JMSDF) onboard JS Hyuga. Rear Admiral Sanjay Bhalla, Flag Officer Commanding Eastern Fleet, led the Indian delegation that included commanding officers and the crew of INS Shivalik and INS Kamorta. Vice Admiral Yuasa Hideki, Commander in Chief, Self Defense Fleet JMSDF, Vice Admiral Karl Thomas, Commander, US Navy Seventh Fleet, and Rear Admiral Jonathan Earley, Commander of Au
The United Arab Emirates (UAE) and Egypt on Tuesday signed a Memorandum of Understanding to develop one of the world’s largest onshore wind projects in Egypt. The MoU was signed between the UAE’s renewable energy firm Masdar alongside its joint venture with Egypt’s main renewable energy developer Infinity and Hassan Allam Utilities on the sidelines of the ongoing COP27 climate summit in Egypt’s coastal city of Sharm El-Sheikh. On completion, the wind farm would be part of Egypt’s Green Corridor initiative. It is a grid dedicated to renewable energy projects and aimed at ensuring