It floats on a sea of oil in a country that has the largest ecological footprint, yet Abu Dhabi aims to convince the world of its environmental credentials through its futuristic Masdar initiative.
On the ground, there are few signs of the will to combat climate change in Abu Dhabi, where even simple solar heaters are seldom spotted on the rooftops of the parched emirate.Full Story
Toyota Motor said Monday its group sales in 2010 rose despite a global recall that damaged its brand image, enabling the firm to keep its top spot as world's biggest automaker.
Toyota's global sales rose eight percent on-year to 8.418 million vehicles, beating the 8.39 million vehicles sold by General Motors in 2010.Full Story
The political crisis in Lebanon is threatening to derail economic progress after a year that saw 7 percent economic growth, a record number of tourists and bank deposits among the highest in the Middle East.
Lebanon's government collapsed Jan. 12 after Hizbullah and its allies resigned from the Cabinet in a dispute over a U.N. court investigating the 2005 assassination of former Prime Minister Rafik Hariri.Full Story
World Trade Organization Chief Pascal Lamy said Saturday that the chances of closing the long-delayed Doha round of talks on a new free trade pact are much better than a year ago.
"We are now in a go period after two years of stop, or at least of very slow progress," Lamy said at a meeting of agriculture ministers in Berlin.Full Story
Toshiba and Tokyo Electric Power will team up with the Japanese government to build one of the world's largest solar power stations in Bulgaria, a report said Friday.
The plant will be built in the eastern city of Yambol by March 2012 at a cost of more than 100 billion yen ($1.2 billion), Japan's Nikkei daily said.Full Story
Online auction house eBay on Wednesday reported better than expected earnings driven by the success of its online financial transactions service PayPal.
EBay revenue for the quarter ending December 31 was slightly less than $2.5 billion and its net profit was $559.2 million dollars.Full Story
Oil prices rose to near $92 a barrel Wednesday in Asia, underpinned by a rise in regional stock markets and increases to demand forecasts for this year.
Benchmark crude for February delivery was up 34 cents at $91.72 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract, which expires this week, fell 16 cents to settle at $91.38 on Tuesday.Full Story
Global credit ratings agency Standard and Poor's on Tuesday revised its outlook for Lebanon to stable from positive despite a deepening political crisis in the Mediterranean country.
"The stable outlook reflects our view that while the government's control over the economic and political agenda has been diminished, outbreaks of civil unrest in the country will be avoided," the agency said in a statement.Full Story
Toyota on Tuesday said it is developing a new type of electric motor that would reduce its need for magnets; a move analysts say would help it cut its dependence on rare earth metals and lower costs.
The world's largest seller of hybrid automobiles is reportedly working on a motor based on common and inexpensive induction motors found in appliances such as kitchen mixers that use electromagnets instead of permanent ones.Full Story
Debate over adding firepower to the euro zone’s debt rescue funds heated up on Monday as Germany clashed with Brussels ahead of a meeting of finance ministers.
European Commission president Jose Manuel Barroso has pressed European leaders to take a decision to "reinforce" rescue funds by a February 4 summit but Euro zone paymaster Germany refuses to be rushed into it.Full Story