RIYADH: The UAE and the US have announced the allocation of $20 billion to fund 15 GW of renewable energy projects before 2035, Emirates news agency WAM reported. Led by UAE-government-owned renewable energy company Masdar as well as a consortium of US private investors, the investment is divided into $7 billion in private sector cash equity and $13 billion in US debt financing. UAE, India green interconnection deal The UAE and India are close to sealing a major deal on a renewable electricity grid link between both countries, Reuters reported, citing India"s Minister of Power and New and Renewable Energy Raj Kumar Singh. According to Singh, the deal is just awaiting final approvals; however, a proper time frame is yet to be disclosed. The deal comes under the initiative titled “One Sun, One World, One Grid” which has been jointly created by a group of countries in an attempt to propel green energy networks. Emirates further expands operations to China UAE-based airlines Emirates is set to further expand its operations in China as COVID-19 entry-related restrictions slowly ease off, Trade Arabia reported. The airline’s plans to ramp up operations in China aim to boost connectivity with its gateways Guangzhou, Shanghai, and Beijing. Dubai price rises to further slow in 2023 Dubai property prices are projected to rise by 5 percent in 2023, after surging 11 percent in 2022, reflecting yet another slowdown from the 21 percent climb captured in 2021, Reuters reported, citing group managing director of Betterhomes Richard Waind. “Higher interest rates haven"t removed the underlying demand. But they are certainly having an impact on people"s willingness and ability to pay more for properties," said Waind. This comes as Dubai recorded over a 60 percent increase in total units sold in 2022, according to one of the city’s biggest real estate consultancies. “We’re obviously less exposed to interest rates here through the prevalence of cash purchases. So, in the UK and the US, cash purchases are somewhere between 20 and 40 percent of all transactions. Over here, it"s roughly 70 percent,” he explained.