The United States and the United Arab Emirates on Tuesday signed a major new clean energy framework in Abu Dhabi to ensure the two countries' swift and smooth transition toward clean energy and being away from unabated fossil fuels.
The U.S.-UAE Partnership for Accelerating Clean Energy (PACE) is set to catalyze $100 billion in financing, investment, and other support and to deploy globally 100 gigawatts of clean energy by 2035 to advance the energy transition and maximize climate benefits.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.