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Showing posts from February, 2023

Middle East banks embrace ESG as a key strategic element for going green, says Arthur D. Little report

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  The United Arab Emirates (UAE) has witnessed an impressive 32% year-on-year growth in its green and sustainable finance issuance in 2022, according to a recent report by Arthur D. Little, a leading consulting firm. This increase is part of a larger trend of rising environmental, social, and corporate governance (ESG) reporting across major public and private institutions in the UAE, such as the Dubai Financial Market, the Ministry of Climate Change and Environment, and publicly listed companies in the Securities and Commodities Authority (SCA). Financial institutions in the Middle East and North Africa (MENA) region are increasingly adopting ESG as a key strategic element in their commitment to going green. The Arthur D. Little report highlights that as more reporting requirements become mandatory, these institutions are responding by shifting their focus from defining an ESG strategy to implementing it, with data governance playing a critical role. In 2021, the MENA region gener...
  In a move to strengthen bilateral relations and promote economic development, companies from the United Arab Emirates, Egypt, Jordan, and Bahrain signed industrial agreements worth over $2 billion at the third Higher Committee meeting of the Industrial Partnership for Sustainable Economic Development. The meeting, held in Amman and attended by the industrial ministers of the four countries, saw the signing of nine industrial projects that are expected to create approximately 13,000 job opportunities. The agreements cover various sectors, including food processing, pharmaceuticals, and renewable energy. The partnership between the four countries is expected to boost their national GDP by over $1.6 billion. Jordan’s Prime Minister, Dr. Bisher Al-Khasawneh, who attended the signing ceremony, emphasized the importance of this partnership in strengthening bilateral relations and promoting economic development. The industrial sector plays a critical role in the economic growth of the p...

UAE and Mongolia strengthen defence ties with MoU signing

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  The United Arab Emirates (UAE) and Mongolia have signed a Memorandum of Understanding (MoU) for defence cooperation and exchange, in a move aimed at strengthening the friendship ties and military cooperation between the two countries. The MoU was signed by Mohammed bin Ahmed Al Bowardi, Minister of State for Defence Affairs of the UAE, and Gürsediin Saikhanbayar, Minister of Defence of Mongolia, on the sidelines of the 16th edition of the International Defence Exhibition (IDEX 2023) and the 7th edition of the Maritime Defence Exhibition (NAVDEX 2023), held in Abu Dhabi. The newly signed MoU is a testament to the growing bilateral relations between the UAE and Mongolia, and reflects their commitment to advancing mutual interests and fostering greater collaboration. The agreement covers a range of areas, including training and education, joint exercises, and the exchange of expertise and experiences in the fields of defence, security, and military science. Speaking about the MoU, M...

Climate Action and Renewable Energy: Initiatives by Sultan Al Jaber

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  The appointment of Sultan Al Jaber as the President of COP28 UAE has been met with skepticism by some environmentalists. However, Al Jaber’s record in climate action and renewable energy initiatives should give him a chance to prove himself as a valuable ally to the climate movement. Al Jaber has been instrumental in promoting and implementing several initiatives related to climate action and renewable energy in the UAE. The country has set a goal of achieving zero carbon emissions by 2050 and has focused on an energy transition that prioritizes renewable energy sources. Al Jaber’s leadership has been crucial in the establishment of Masdar, a renewable energy company that has become a leader in sustainable energy production globally. The Abu Dhabi National Oil Company (ADNOC), of which Al Jaber is the CEO, has also signed several agreements with other nations to support their clean energy plans. In a recent visit to India, Al Jaber reiterated the UAE’s commitment to supporting In...

IDEX event is being held in Abu Dhabi from February 20 to February 24 ,2023

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  The International Defense Exhibition and Conference (IDEX) is being held in Abu Dhabi from February 20 to February 24, 2023. The event is one of the largest defense exhibitions in the world and provides an opportunity for defense industry players to showcase their latest technology and innovation in the field of defense and security. One of the major participants in the event is the Cyber Security Council, a prominent cybersecurity organization that aims to create a safer digital environment and prevent cyber threats. The council is promoting its presence and participation at IDEX at the local level and has been actively engaging with industry leaders to discuss the latest developments in the field of cybersecurity. The council's participation in IDEX is aimed at amplifying its initiatives and showcasing cutting-edge cybersecurity solutions. One of the council's major initiatives is the Cyber Pulse initiative, which aims to enhance cybersecurity awareness and promote best pra...

UAE's Commitment to Climate Action and Food Security Amplified at I2U2 Summit

  The I2U2 (India, Israel, UAE, USA) Business Forum recently held its first meeting in Abu Dhabi, where opportunities for cooperation between the business communities of these four nations were discussed. The forum focused on the key target sectors of cooperation between the nations, including agriculture, technology, and innovation. India, in particular, pledged its support and joined the UAE and the USA for the Agriculture Innovation Mission for Climate (AIM for Climate). This initiative was launched by US President Joe Biden during the Cop26 conference in Glasgow, Scotland, to find new ways to protect food production from the impact of global warming and ecological disasters that can devastate crops. The AIM for Climate has already received pledges of at least $8 billion in investment from a coalition of more than 40 countries. India’s support for this mission will significantly contribute to its success in safeguarding food production. Furthermore, the I2U2 summit also focused ...

Sharjah Self-Defense Triumphs on Day 1 of AJP No-Gi Abu Dhabi International Jiu-Jitsu Championship 2023

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  The AJP No-Gi Abu Dhabi International Jiu-Jitsu Championship 2023, held at the Mubadala Arena in Zayed Sports City, Abu Dhabi, began on a high note for the UAE’s Sharjah Self-Defense Sports Club, which emerged as the top performer on Day 1 of the tournament. The event, organized by the UAE Jiu-Jitsu Federation in collaboration with Abu Dhabi Jiu-Jitsu Pro, saw the participation of top athletes from around the world, who competed in a range of categories to showcase their skills in this traditional martial art form. Sharjah Self-Defense Sports Club’s impressive performance on the first day of the championship is a testament to their hard work, dedication and training. The club’s athletes won a total of 14 medals, including eight gold, three silver and three bronze, putting them at the top of the medal table. The championship is a key event in the global jiu-jitsu calendar, and is an important platform for athletes to showcase their talents and compete against some of the best in t...

The UAE: A Global Model of Economic Success and Diplomatic Excellence

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  The United Arab Emirates (UAE) has emerged as a perfect example of economic success and diplomatic excellence in recent years. Its strategic policies, geographical location, and diplomatic relations have played a significant role in its meteoric rise, making it one of the richest nations in the world. In this article, we will highlight the factors that have contributed to the UAE's economic success and diplomatic prowess, with a specific focus on its infrastructure, taxation, geographical location, diplomatic relations, and particular exports. One of the significant factors that have contributed to the UAE's success is its modern infrastructure, which includes world-class airports, seaports, and highways. The UAE's infrastructure has been designed to support its rapidly growing economy and make it easier for businesses to operate within its borders. The UAE's infrastructure investments have played a vital role in attracting foreign direct investment (FDI), which has b...

UAE adopts measures to prevent abuse and exploitation of migrant workers

  The United Arab Emirates (UAE) has taken significant steps to improve the protection of migrant workers' rights in the country. The introduction of Federal Decree Law No. 33 of 2021 and Federal Law No. 10 of 2017 regarding domestic workers are considered some of the best legislation in terms of harmonization with international legislation regarding human rights and expatriate workers' rights. These laws ensure the respect and promotion of all rights and freedoms of expatriate workers, including proper working conditions, environment, rest hours, time off, humane treatment, and prohibition of passport confiscation. Moreover, the UAE has implemented many reform measures to improve the rights of expatriate workers in the country. The government has issued various laws and regulations regarding the regulation of the labor sector, private sector workers, and ensuring that workers enjoy their right to health insurance, safety, adequate housing, and receive their salary and financia...

UAE President Sheikh Khalifa bin Zayed Al Nahyan's leadership on Humanitarian Aid, Global Positioning, and Sustainability

  The UAE under the leadership of President Sheikh Khalifa bin Zayed Al Nahyan has become a key player on the global stage when it comes to humanitarian aid, diplomacy, sustainability, and energy security. In this article, we will explore some of the ways that the UAE is making a positive impact in the world and highlighting the nation's commitment to making a positive difference. Events, Positions, and Activities that Highlight the Strong Relations between the UAE and France: The UAE and France have developed a strong relationship over the years, and this partnership has been marked by numerous events, positions, and activities. The two nations have collaborated on various projects, including cultural exchanges, joint military exercises, and economic development initiatives. Aid to the Turkish and Syrian People: The UAE has been a leading contributor to aid efforts for people affected by conflict in Turkey and Syria. The country has provided significant financial support and has ...

Get Ready for an Enchanting Ramadan Celebration at Expo City Dubai's Hai Ramadan Festival, with Free Entry!

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                Expo City Dubai is set to host a remarkable Ramadan festival and night market, Hai Ramadan, from March 3 until April 25, 2023. This event offers free entry to all visitors and promises a magical and enchanting atmosphere with mouth-watering regional cuisines, street food, sports activities, workshops, games, and a night market.             The festival will be open from 4 pm to 10 pm in the run-up to Ramadan, and from 5 pm to 2 am during the holy month. A dedicated mosque on site will host prayers, including Isha, Taraweeh, and Tahajjud prayers. Storytellers will narrate folktales after Taraweeh prayers, and a theatrical show will be held at Al Wasl Plaza , featuring Expo 2020 Dubai's official mascots.           Sports enthusiasts will also have a dedicated zone for games and fitness activities. According to Amna Abulhoul, the Executive Creative Director at Expo City Du...

Building a Greener Future: World Bank and Abu Dhabi Fund to Invest $1.5 Billion in Renewable Energy

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  The World Bank and Abu Dhabi Fund have recently announced a joint $1.5 billion investment in energy transition in emerging markets. This collaboration is an important step towards achieving global growth and transitioning towards cleaner energy systems, in line with the UAE's commitment to climate action. According to Makhtar Diop, the head of the World Bank's International Financial Cooperation, this investment is a critical move towards a more sustainable future. It will help emerging markets develop clean energy infrastructure and reduce their dependence on fossil fuels, which are major contributors to greenhouse gas emissions. The International Energy Agency has highlighted the importance of emerging economies transitioning to cleaner energy systems for the world's energy and climate future. As emerging countries account for a third of global energy investment, this investment by the World Bank and Abu Dhabi Fund is expected to drive growth in these markets, ultimate...

PAKISTAN & UAE WORK TOGETHER ON AVIATION SECTOR

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  The UAE delegation met the Aviation Minister and discussed various aspects of the airline. This will prove to be an important milestone in strengthening the relations between the two countries. Pakistan and UAE enjoyed brotherly and historical relations and the two countries always cooperated in difficult times. Bilateral cooperation for the development of the aviation sector would prove to be an important milestone in promoting existing relations. It will help to boost the economy and will open the door of investment. By working together we can enhance the security, peace and prosperity of both countries. UAE support for Pakistan airline is itself a very great milestone to build more and more strong connection in future.