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G20 energy summit in Goa prepares ground for COP28

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Dr Fatih Birol, left, and Dr Sultan Al Jaber, in Goa. WAM
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The COP28 UAE Presidency and the International Energy Agency (IEA) have convened the first in a landmark series of high-level dialogues through to COP28 around building a 1.5°C-aligned energy transition. The initiative is being carried out in collaboration with the International Renewable Energy Agency (IRENA) and will be supported by the United Nations Framework Convention on Climate Change (UNFCCC).

The dialogues are intended to build consensus on 1.5°C-compatible energy transition pathways and the enabling conditions needed to achieve them, as well as momentum around the target energy outcomes for COP28.

The meetings are being co-chaired by COP28 President-Designate Dr. Sultan Al Jaber and Dr. Fatih Birol, Executive Director of the IEA. The aim is to engage public- and private-sector decision-makers in the energy industry to produce a holistic, global view of the energy system.

The dialogues will prepare the ground for specific commitments and calls-to-action at the World Climate Action Summit being held at COP28.

The session was held on Friday, 21st July on the sidelines of the 14th Clean Energy Ministerial, alongside the G20 Energy Transitions Ministerial Meeting in Goa, India. Delegates at the meeting included various country delegates and private sector representatives.

Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, said of the initiative, “COP28 represents a milestone opportunity for the world to come together, unite around decisive action, and drive progress towards keeping the goals of the Paris Agreement alive and 1.5°C within reach. This will require a collective effort and so we need everyone at the table – and that includes the energy industry.

“Building a new energy system can only happen at speed and scale with united action on the supply and the demand sides together. These high-level dialogues are bringing public- and private-sector energy decision-makers together under the framework of a COP for the first time. They will help redesign the relationship between policymakers, the biggest energy producers, and the biggest industrial consumers. This is one of my Presidency’s key priorities and will be a crucial step in building consensus on how best to deliver the energy system of the future.”

IEA Executive Director Dr Fatih Birol said, “The IEA has put forward a comprehensive energy package that can help make COP28 a success. This includes tripling global renewables capacity, doubling energy efficiency progress, slashing emissions from the oil and gas industry, boosting clean energy finance for developing economies, redirecting fossil fuel investment into clean energy, and putting fossil fuel demand into sharp decline.

“The IEA’s Net Zero Emissions by 2050 Scenario is widely recognised as the global benchmark for efforts to keep the 1.5°C goal within reach, so we are pleased to be working with the COP28 Presidency to lead these important international dialogues to drive stronger ambition and implementation, which is what is urgently needed. Every stakeholder must play their part – including oil and gas producers, which need to set out and deliver on aggressive targets to cut their emissions by 2030.”

WAM

Business

IT services spend in mena set to reach up to 28% of total it budgets as services-led transformation accelerates

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The Middle East and North Africa (MENA) is entering a decisive, services-led growth phase in its IT sector, as enterprises and governments accelerate large-scale digital transformation initiatives. Investments in cloud computing, artificial intelligence (AI), data centres, and cybersecurity are reshaping technology priorities, with implementation, integration, and managed services gaining prominence over traditional software-led models.

Industry analysis by Grand View Research (GVR) reveals that IT services currently account for around 21–22% of total IT spending across MENA, a share expected to rise to between 26 and 28% by the end of the decade. The region’s professional IT services market, valued at USD 33.9 billion (Dh124.5 billion) in 2024, is forecast to grow to nearly USD 58.3 billion (Dh214 billion) by 2030, registering a compound annual growth rate (CAGR) of approximately 9.5%.

Sourav Bhanja, Middle East Head of GVR, said: “Many B2B IT services firms in the region continue to underinvest in digital engagement. Professional platforms such as LinkedIn remain underutilised, while company websites often lack strong case studies, sector-specific storytelling, and clear positioning.”

Government-led digitalisation programmes, sovereign cloud deployments, smart city initiatives, and national data strategies, coupled with rising enterprise adoption across sectors such as banking and financial services, healthcare, energy, logistics, and public infrastructure, are driving this shift. As hyperscalers and global technology firms expand their regional footprint, demand for localised integration, migration, and managed services continues to accelerate.

Bhanja also emphasised the importance of leadership visibility in the region’s competitive IT market: “Technical capability alone is no longer enough. Firms that combine deep technical expertise with consistent marketing, strong leadership visibility, and clear communication of value are the ones most likely to succeed in the MENA market.”

The analysis highlights that with growing competition among IT services providers, market visibility and differentiation have emerged as critical growth drivers. Integrated, always-on digital marketing strategies are increasingly vital, as many B2B IT services firms underutilise channels such as LinkedIn, websites, thought leadership content, newsletters, blogs, infographics, and short-form video to engage decision-makers.

Market data also indicates a broader shift towards digital-first engagement. Digital advertising spend in the Middle East, estimated at USD 32 billion (Dh117 billion) in 2024, is projected to rise sharply to USD 81.4 billion (Dh298.9 billion) by 2030, growing at a CAGR of 16.7%. In contrast, the regional events and conferences market is expected to expand at a more modest 7.1% CAGR, reflecting changing enterprise marketing priorities.

Grand View Research concluded that IT services firms combining technical depth with strong market communication, data-driven marketing, and visible leadership will be best positioned to capture the next phase of growth across MENA.

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From top chefs to food tech, why Gulfood 2025 is a must-visit

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The 30th edition of Gulfood, the world’s largest annual F&B event, is underway at the Dubai World Trade Centre until February 21, 2025. Under the theme The Next Frontier in Food, this global gathering brings together industry pioneers, top chefs, and leading food brands for an unparalleled showcase of innovation, networking, and, of course, incredible flavours.
Here’s what you can experience at the festival:
A Feast for the senses
Over 150,000 new products from more than 190 countries on display.
Discover the latest trends in beverages, dairy, meat and poultry, pulses and grains, fats and oils, brands, and international cuisine.
Whether you’re an industry professional or a passionate foodie, expect to see cutting-edge developments that will shape the future of food.

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Unmissable highlights
Gulfood Top Table – The world’s biggest live culinary showcase featuring Michelin-starred chefs, tastings, and masterclasses.
YouthX Young Chef Challenge – Witness rising stars compete for culinary glory.
Gulfood Innovation Awards – Recognizing groundbreaking advancements in food and beverage.
Dubai World Cuisine – A celebration of homegrown talent as top chefs collaborate on unforgettable dining experiences.

After hours events
The excitement just doesn’t end when the exhibition doors close. Gulfood After Hours takes visitors on an exciting journey to explore Dubai’s buzzing culinary scene with exclusive restaurant offers and discounts — just flash your Gulfood ticket and you’re in for a treat. To secure a seat at these must-visit hotspots, it would be wise to book in advance.
Witness food trends
From manufacturers and chefs to restaurant owners and industry experts, This is where food trends will be set, deals will ne made, and the future of the F&B industry will get shaped. This is your chance to bd part of this extraordinary food revolution

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Announcements

Saudi Arabia to Host 2034 FIFA Men’s World Cup; 2030 edition to span three continents

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World soccer’s governing body, FIFA, has confirmed that Saudi Arabia will host the men’s FIFA World Cup in 2034, while the 2030 tournament will be held in Spain, Portugal, and Morocco, with special celebratory matches in three South American countries. The announcement was made on Wednesday by FIFA President Gianni Infantino following an extraordinary virtual Congress.

Both tournaments were awarded through uncontested bids and confirmed by acclamation. “We are bringing football to more countries, and the number of teams has not diluted the quality. It has actually enhanced opportunities,” said Infantino, highlighting the expanded global reach of the tournament.

The 2030 World Cup will be a landmark event, taking place across six nations and three continents. Morocco, Spain, and Portugal will serve as the primary hosts, while Uruguay, Argentina, and Paraguay will hold celebratory matches to mark the centenary of the inaugural World Cup, hosted by Uruguay in 1930.

While Argentina and Spain have previously hosted the tournament, Uruguay will host again for the first time in a century. Portugal, Paraguay, and Morocco will join the World Cup’s history as first-time host nations.

In 2034, Saudi Arabia will become the second Middle Eastern nation to host the FIFA World Cup, following Qatar’s 2022 edition. This milestone further cements the region’s growing influence in the world of football.

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