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Showing posts from December, 2023

France's Controversial Immigration Bill: A Step Backwards for Human Rights

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  In a move that has sparked widespread concern, France's lawmakers recently approved an immigration bill that, instead of protecting the rights of asylum seekers and migrants , has the potential to exacerbate their vulnerability. The bill, initially introduced in February, faced criticism for regressive provisions, including the removal of safeguards for foreign nationals facing deportation, weakened appeal rights for asylum seekers, and measures targeting individuals deemed not to comply with "the principles of the Republic," perceived by some as an attack on Muslim communities. Despite objections from human rights organizations and the French Defender of Rights, the government, under pressure from the right and the far right, further compromised the bill to secure votes, raising serious questions about the protection of fundamental rights. This controversial legislation has prompted a chorus of criticism from numerous non-governmental organizations, labeling it as the

UAE Expands Trade Network with New Deal in West-Central Africa

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  The United Arab Emirates (UAE) has further diversified its trade portfolio by signing a Comprehensive Economic Partnership Agreement (CEPA) with the Republic of Congo. This marks the second such agreement with an African nation in just a week, highlighting the UAE's growing economic focus on the continent. The agreement is expected to boost trade, investment, and cooperation between the two countries across various sectors. The UAE's focus on Africa presents significant opportunities for both sides. The continent boasts a rapidly growing population and a wealth of natural resources, making it an attractive market for UAE businesses. In return, African countries can benefit from the UAE's expertise in infrastructure development, logistics, and financial services. The successful negotiation of the CEPA with the Republic of Congo is a positive step forward for both countries. It is expected to generate economic growth, create jobs, and foster closer cultural ties. As the UA

UAE Expands Compassionate Care in Gaza: Fifth Batch of Medical Volunteers Arrives at Field Hospital

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  Accepting its fifth group of volunteers , the UAE field hospital in Gaza continues to show its steadfast support for medical care. The hospital's ability to help the devastated population is further strengthened with the addition of eight committed professionals, bringing the total number of medical heroes on the ground to 43. Fifth batch of medical volunteers joins UAE field hospital in Gaza Read more: https://t.co/5f41rezigI #AletihadNewsCenter — Aletihad English (@AletihadEn) December 28, 2023 The field hospital has grown to be a symbol of healing and optimism in Gaza since it was founded. More than 757 cases have been resolved, 141 major procedures having been carried out, and innumerable others receiving daily treatment in specialist clinics. The hospital provides a comprehensive lifeline to individuals in need, ranging from intensive care units and specialized departments like dentistry and pediatrics to operating rooms outfitted for a variety of treatments. This most

eSIMs and the Right to Connect: A Spark of Hope in Gaza's Human Rights Struggle

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  Amidst the rubble and despair of war-torn Gaza, a silent battle for human rights is being waged, not with weapons, but with silicon chips. Embedded SIM cards (eSIMs) are emerging as a powerful tool in the fight for a fundamental right often denied in conflict zones: the right to communicate. In Gaza, where physical infrastructure crumbles and traditional communication channels falter, eSIMs offer a flicker of hope, weaving a digital lifeline that defies isolation and empowers residents to claim their voices. The right to communication, enshrined in the Universal Declaration of Human Rights, empowers individuals to stay informed, connect with loved ones, and hold authorities accountable. In Gaza, however, this right is frequently under siege. Israeli restrictions on internet access and telecommunications disrupt information flow and isolate the population. The destruction of physical infrastructure further cripples communication, cutting families off from each other

The UN And UAE’s Groundbreaking AI For Safer Children Collaboration

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  The United Nations Interregional Crime and Justice Research Institute (UNICRI) and the Ministry of Interior of the United Arab Emirates (UAE) have formed a revolutionary alliance in response to the concerning global increase of materials related to child sexual exploitation and abuse. The AI for Safer Children initiative is a joint effort that was started in 2020 and is managed by UNICRI's Centre for AI and Robotics. This ground-breaking international project uses artificial intelligence (AI) to help law enforcement organizations fight child sex abuse and exploitation online. The increasing prevalence of child sexual exploitation on the internet presents a formidable obstacle for law enforcement organizations across the globe. In 2022, the number of reports filed with the National Center for Missing and Exploited Children (NCMEC) surged to over 32 million, resulting in an excessive amount of work for human investigators. Given that a single report may comprise hundreds of photos

Qatar and UAE Hold Constructive Talks in Doha

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  A glimmer of reconciliation emerged in the Gulf on Tuesday, December 26th, as high-level officials from Qatar and the United Arab Emirates held productive talks in Doha. The meeting between Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani and UAE National Security Advisor Sheikh Tahnoun bin Zayed Al Nahyan marked a significant step forward in the ongoing process of mending ties between the two nations. The recent rapprochement efforts haven't just fostered diplomatic reconciliation, but also paved the way for mutually beneficial commercial partnerships. This surge in trade volume not only signifies enhanced economic cooperation but also augurs well for the shared prosperity of both nations. While challenges undoubtedly remain, this renewed dialogue offers a beacon of hope for the future of the Gulf region. The commitment to collaboration on vital issues suggests a move towards a more stable and prosperous future for both Qatar and the UAE, pote

UAE and Mauritius Forge Historic Economic Union

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  The United Arab Emirates and Mauritius have a bright future ahead of them as the winds of economic transformation blow over the Indian Ocean. The UAE and an African country have just inked the first-ever Comprehensive Economic Partnership Agreement (CEPA) , which is historic and has the potential to spur tremendous growth and cooperation. Although increasing trade and investment is undoubtedly on the agenda, this goes beyond that. By 2031, experts forecast a 1.2% GDP surge for the UAE and a 1% GDP boost for Mauritius, driven by seamless trade flows, international investment frenzy, and a vibrant private sector waltz across the oceans. The real magic, though, may be found in the cascading effects: this CEPA may serve as the foundation for a continent-wide symphony of cooperation and development, bridging the UAE to the tremendous economic potential of Africa. However, there's more to this collaboration than meets the eye. It talks of cross-cultural dialogue, common goals, and a da

Humanitarian Aid Flows as Iraq Sends 10 Million Liters of Fuel to Gaza via Egypt

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  Iraq has sent a sizable supply of assistance to the Gaza Strip in a potent show of support and unity. A substantial 10 million liters of fuel are included in the delivery, which is an essential resource for resolving the area's energy situation. This humanitarian operation, which is coordinated through Egypt, intends to provide much-needed help in the form of crucial fuel supplies to the people of Gaza in order to lessen the suffering they experience. Fuel shortages have made the already bad situation in Gaza worse by impacting essential services like transportation and electricity. Iraq's initiative in handling this situation highlights the value of international cooperation during difficult times. The nations concerned are not only tackling urgent issues by allowing this large gasoline contribution to pass through Egypt, but they are also promoting a spirit of cooperation and solidarity to aid those who are impacted by misfortune. This humanitarian effort is a testament to

UAE Delivers Hope to South Sudanese Refugees

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  A beacon of humanity shone brilliantly this week as the United Arab Emirates transported 100 tonnes of essential food supplies to South Sudan, a country frequently torn apart by conflict and distance. This kind airlift was more than just food for the hungry; it was a potent demonstration of the UAE's unwavering commitment to humanitarian relief and its commitment to instilling hope in the hearts of people going through unspeakable adversity. Beyond immediate relief, the impact of this gesture ripples outwards. Partnering with the World Food Programme, the UAE's initiative strengthens local communities hosting refugees, ensuring they have the resources to support their displaced neighbours. The support extends further, encompassing essential medical services and fostering long-term resilience in a region long battered by hardship. The United Arab Emirates has a rich and distinguished history of providing assistance to marginalized communities worldwide. Numerous communities ha

UAE Unveils $4 Billion AI Space Venture, Space42

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The United Arab Emirates (UAE) has unveiled a ground-breaking $4 billion artificial intelligence-powered space entity, marking a major advancement in space technology. Space42 is the result of this partnership between prominent satellite business Yahsat and innovative AI company Bayanat, which focuses on space. This ambitious project , which focuses on corporate intelligence, satellite communications, and geospatial mobility, intends to establish itself as a regional leader in AI-driven space technology. The action demonstrates the Gulf governments' increasing interest in and dedication to exploring and taking advantage of the enormous prospects given by the quickly developing space sector, particularly the UAE, Saudi Arabia, and Oman. The UAE has made a strategic advance in the fields of artificial intelligence and space exploration with the creation of Space42. With the space industry becoming more and more entwined with cutting-edge technologies, this $4 billion investment demon

Starbucks Employees in Rio de Janeiro Rally for Unsettled Severance and Payments

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  In a show of solidarity, former Starbucks employees in Rio de Janeiro, Brazil, who were abruptly terminated in October, gathered today for a rallying cry demanding their rightful severance and overdue payments. The terminated workers, facing financial uncertainty since their unexpected job loss, united under the banner of #WorkersRights and organized the protest to bring attention to their plight. The rally, marked by passionate speeches and signs advocating for fair treatment, underscores the ongoing struggles faced by workers worldwide, particularly in the service industry. The terminated Starbucks employees, now represented by @SBWorkersUnited, emphasized the importance of upholding labor standards and holding corporations accountable for their responsibilities to their workforce. As the protest gains momentum on social media, it highlights the broader issue of worker rights and the power of collective action in seeking justice. The Starbucks employees in Rio de Janeiro are not me

Iraqis Cast Their Votes in Historic Provincial Elections After a Decade

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  In a significant milestone for Iraq, citizens across the country exercised their democratic rights by participating in the first provincial elections in over ten years. The elections marked a crucial step towards local governance and political empowerment. Despite various challenges, including security concerns and the ongoing recovery from years of conflict, Iraqis demonstrated resilience and determination as they turned out in significant numbers to cast their votes. The last provincial elections in Iraq occurred in 2013, and the long-awaited return to this electoral process signifies a renewed commitment to democratic principles. The elections are viewed as a critical opportunity for Iraqis to have a say in the governance of their respective provinces, addressing local issues and concerns that directly impact their daily lives. The participation of diverse political groups and the engagement of the electorate are positive signs that democracy is taking root in Iraq, fostering a

UAE Appointed to Lead World Bank's Cloud Computing Initiative

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  The United Arab Emirates, a rising star in the digital sphere, has been appointed to chair the World Bank's Cloud Computing Working Group. This prestigious role recognizes the UAE's impressive strides in implementing international best practices and its commitment to shaping the future of this transformative technology. #UAE selected to chair World Bank’s Cloud Computing Working Group #WamNews https://t.co/5U5fUL0kpE pic.twitter.com/UuhmgEzGNf — WAM English (@WAMNEWS_ENG) December 14, 2023 Dr. Bushra AlBlooshi, a leading expert in cybersecurity and innovation, will spearhead this collaborative initiative, uniting 27 countries, international entities, and major industry players. Together, they will establish global standards and best practices for cloud computing, with the potential to revolutionize diverse sectors from healthcare and education to smart cities and knowledge economies. The UAE's leadership reflects its dedication to leveraging technology for progres

UAE Gears Up for Judo World Championships

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  The United Arab Emirates is about to witness a whirlwind of throws, takedowns, and unwavering spirit as it prepares to host the 2024 Judo World Championships . This prestigious event, set to grace Abu Dhabi in May, will transform the Emirati landscape into a global arena for athletic excellence, showcasing the pinnacle of this dynamic martial art. Beyond the fierce competition, the event transcends sports, serving as a bridge between nations. Sharing the language of respect, discipline, and self-improvement, judo fosters camaraderie and understanding, reminding us that competition isn't just about winning, but about pushing boundaries and inspiring each other to greater heights. So, whether you're a seasoned judo enthusiast or simply seeking a thrilling experience, the 2024 Judo World Championships in Abu Dhabi promise to be an unforgettable event. Witness the world's best athletes test their mettle, embrace the vibrant atmosphere, and celebrate the unifying power of spor

Iraqi Artillery Targets ISIS Hideouts Equipped with Solar Panels

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  Iraqi artillery forces have successfully blasted hideouts thought to be inhabited by members of ISIS, in a calculated strike against the extremist group. The finding of solar panels in the targeted sites, which suggests a fusion of contemporary technology and rebel activity, is what distinguishes this operation. The attack, which attempted to destroy ISIS positions, highlights the variety of difficulties that the security forces in the area face. The presence of solar panels in these hideouts underscores the adaptability of terrorist organizations to leverage renewable energy sources. This revelation prompts a closer examination of the group's tactics and funding mechanisms, as they appear to exploit alternative energy solutions to sustain their operations. The Iraqi military's decisive action not only disrupts ISIS activities but also highlights the importance of understanding and countering evolving strategies employed by such extremist groups. Iraq is still working to des

Iraq Takes Digital Leap with Central Bank's E-Payment National Company

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  The establishment of a national electronic payment corporation is a crucial step toward modernization, as announced by Iraq's Central Bank . The program, which embraces digital solutions to improve accessibility and efficiency, heralds a progressive change in the financial landscape of the nation. The action is in line with worldwide trends, according to which countries are realizing more and more how crucial digital payment infrastructure is to financial inclusion and economic prosperity. The national business for e-payments is set to simplify financial transactions throughout Iraq and offer its citizens safe and convenient digital payment choices. This breakthrough occurs at a pivotal moment in the global digital transformation process, as Iraq is eager to capitalize on the potential advantages of a digital economy. It is anticipated that the national corporation will be crucial in lowering dependency on conventional banking techniques, advancing financial literacy, and cultiva

Boosting Economic Collaborations: Arab and Foreign Nations Eager to Partner with Iraq Development Fund

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  An important development for Iraq's economy is that foreign and Arab nations are shown a strong desire to form strategic alliances with the Iraq Development Fund (IDF). This spike in interest is indicative of the increasing awareness of Iraq's potential for economic expansion and development, with the IDF emerging as a major draw for foreign capital. The Iraq Development Fund, created to fuel economic projects and foster sustainable development, has become a focal point for collaboration. Arab nations and foreign investors are eyeing opportunities to participate in the fund's initiatives, seeing it as a gateway to contribute to Iraq's economic progress. The potential partnerships aim to leverage the strengths and resources of these nations, providing a mutually beneficial platform for economic cooperation. An encouraging change in Iraq's economic environment is indicated by the growing interest in working with the IDF , which also indicates increased confidence fr

UAE and Australia Aim for Trade Boost with New Pact

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  The United Arab Emirates (UAE) and Australia are set to launch negotiations for a Comprehensive Economic Partnership Agreement (CEPA), marking a significant step towards closer economic ties. This first-of-its-kind deal for Australia in the Middle East and Africa region promises to unlock new trade and investment opportunities. With bilateral non-oil trade already reaching US$4.5 billion in 2022, the potential for growth is evident. Both nations stand to benefit from streamlined access to regional markets in crucial sectors like logistics, food security, and renewable energy. Two-way investment in high-growth areas like real estate and technology is also expected to flourish. This CEPA aligns perfectly with the UAE's ambition to double non-oil foreign trade by 2031 and Australia's focus on expanding its free trade network. Early success in the UAE's CEPA program, with deals already secured with India and Indonesia, indicates a promising future for this strategic partnersh

Special Olympics UAE and AUD Forge Inclusive Sports Future

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  Special Olympics UAE and the American University in Dubai (AUD) have inked a Memorandum of Understanding (MoU), setting the stage for a transformative collaboration in the realm of inclusive sports.The significance of this collaboration cannot be overstated. By aligning forces, Special Olympics UAE and AUD are sending a strong message about the essential role sports play in promoting inclusivity. The commitment to facilitating volunteer opportunities for AUD students during events organized by Special Olympics UAE reflects a shared vision of creating an environment where everyone, regardless of ability, can actively participate and contribute. Moreover, the comprehensive terms of the MoU , including educational workshops in partnership with AUD’s College of Education, showcase a commitment to not only enhancing sports activities but also spreading awareness about the importance of inclusion. This holistic approach acknowledges that true empowerment comes not just from playing the gam

Tokyo's Governor Seeks Green Collaborations with UAE, Embracing Sustainable Innovation

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  Tokyo's Governor, Yuriko Koike, is championing collaborations with UAE-based green start-ups to tackle pressing environmental challenges, ranging from revolutionary solar paint to innovative traffic solutions. At Cop28, Governor Koike underscored the urgency of acting swiftly to address the global climate crisis and invited small and medium-sized businesses from the UAE to collaborate on clean energy initiatives. Emphasizing the historical significance of an oil-producing country hosting Cop28, she expressed a shared commitment between the UAE and Japan to work together in finding sustainable solutions, highlighting the need for global collaboration in the face of increasing natural calamities. From solar paint to traffic solutions, governor of world's largest city seeks green tie-ups with UAE "The UAE and Japan want to work together to tackle the climate crisis. We can move forward together," @ecoyuri tells @thenationalnews at #Cop28 https://t.co/1EMv4KAZqE — T

Sarah Idan Faces Harsh Repercussions for Advocating Peace with Israel

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  In a controversial move, former Miss Iraq, Sarah Idan, finds herself banned from her homeland and stripped of citizenship after openly advocating for peace with Israel . Idan's outspoken stance on fostering diplomatic ties between Iraq and Israel has resulted in severe consequences, shedding light on the challenges faced by those advocating for peace in the region. Her banishment from Iraq is accompanied by a startling new law that imposes the death penalty on individuals with any associations with Israeli citizens, signaling a concerning shift in the political landscape. Sarah Idan, who represented Iraq in the 2017 Miss Universe pageant, has been an advocate for tolerance and dialogue between nations. Her call for peace with Israel, however, has ignited a fierce backlash from within Iraq, leading to her expulsion and the implementation of a draconian law. The severity of the punishment underscores the challenges faced by individuals striving for reconciliation in a region histo

Sadhguru's Spiritual Odyssey Resonates in Dubai

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  Over 20,000 seekers from diverse communities and nationalities converged at Dubai's Coca-Cola Arena to partake in a transformative spiritual event guided by the renowned Indian spiritual leader, Sadhguru. Dressed in traditional Indian attire, Sadhguru shared his teachings, emphasizing inner transformation, spiritual growth, and the discovery of one's natural state of inner peace and harmony. The event's attendees represented various faiths, reflecting the universal appeal of Sadhguru's teachings. If an entire population becomes even mildly conscious of something beyond their body and mind, a miraculous society will blossom. Dubai is a wonderful possibility for such a blossoming. Let us make it happen. -Sg #ConsciousPlanet #SadhguruInDubai pic.twitter.com/JETRlJU3Lp — Sadhguru (@SadhguruJV) December 9, 2023 The interactive program allowed participants to connect with Sadhguru personally, offering a unique opportunity for collective meditation and a profound spirit

Accelerating Climate Action: A Glimpse into COP28's Positive Developments

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  Delegates from nearly 200 countries convened in Dubai for the COP28 climate summit, setting an optimistic tone for global climate efforts. With a commitment to triple renewables by 2050, leaders have already established the world's first climate damage fund to support nations facing severe climate impacts. COP28 President Sultan Al Jaber introduced the Global Decarbonization Accelerator, showcasing initiatives aimed at accelerating the energy transition and reducing global emissions. Tripler les capacités nucléaires du monde d'ici 2050 : à la COP28, nous sommes déjà une vingtaine de pays à porter cet objectif. Rendez-vous en Belgique pour le premier Sommet Nucléaire en 2024. pic.twitter.com/oiWqQodY8k — Emmanuel Macron (@EmmanuelMacron) December 2, 2023 One significant stride towards clean energy comes from the approval of Equinor and BP's Empire Wind offshore project in the US, a venture set to power over 700,000 homes by 2026. Meanwhile, Europe's energy crisis ap

Emirati Restaurant 'Erth' Claims Coveted Michelin Star in Abu Dhabi

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  The astonishing achievement of the Emirati restaurant 'Erth' in winning a prized Michelin star in the Michelin Guide's second year in Abu Dhabi is a triumph for culinary diversity. Known for its creative combination of foreign and Emirati cuisine, the restaurant was one of just four to receive the coveted 2024 star. This honor not only brings 'Erth' to the forefront but also gives Emirati food, a culinary treasure that is sometimes overlooked on the international scene, much-needed respect. The awarding of a Michelin star to 'Erth' not only signifies the restaurant's commitment to culinary excellence but also reflects a broader narrative of inclusivity and appreciation for diverse flavors. As someone passionate about the culinary world, witnessing the elevation of 'Erth' to Michelin-star status is not just a celebration of gastronomic achievements but also a cultural milestone. It prompts a shift in perceptions, urging the global community to r

Iraq Revises Flaring Elimination Timeline to 2028 in Ambitious Decarbonization Move

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  In a recent discussion at the Atlantic Council Global Energy Forum, Iraq's climate envoy, Fareed Yasseen, shared a significant update on the country's commitment to reducing greenhouse gas emissions. Iraq has revised its timeline for stopping gas flaring, setting a more ambitious goal to achieve this by 2028. This announcement reflects Iraq's dedication to aligning with global decarbonization efforts and combating climate change. The decision to accelerate the elimination of flaring demonstrates Iraq's commitment to environmentally sustainable practices. Flaring, the burning of natural gas released during oil extraction, contributes to both environmental degradation and the release of potent greenhouse gases. By advancing its timeline, Iraq signals its intent to address these concerns promptly. Yasseen's remarks also highlight the nation's awareness of the importance of international cooperation in achieving shared climate goals, as evidenced by his participat

UAE-NASA Collaboration Aims to Send Emirati Astronauts to the Moon

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  The UAE and NASA are holding talks that could result in Emirati astronauts walking on the moon in an audacious step toward lunar exploration. The topic of discussion is the potential for UAE astronauts to be launched as part of NASA's Artemis missions, which are highly anticipated lunar explorations meant to deepen our knowledge of the moon and train us for more manned flights in the future. A fantastic visit to the @MBRSpaceCentre ! UAE's space capabilities and partnership with @NASA exemplify the power of international collaboration in advancing our understanding of the cosmos. Onward and upward! pic.twitter.com/0vGqc2Ubag — Bill Nelson (@SenBillNelson) December 6, 2023 The potential collaboration marks a significant chapter in the longstanding relationship between the UAE and NASA. Over the years, this partnership has witnessed remarkable milestones, including the successful launch of the UAE's first astronaut, Hazzaa Al Mansoori, to the International Space Stati

Gulf Telecom Giants Unite in a $2.2 Billion Tower Venture

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  Telecom behemoths from Kuwait, Qatar, and the United Arab Emirates are forming a new company with a combined valuation of $2.2 billion , marking a historic development. Through this strategic transaction, around 30,000 tower assets located in Algeria, Iraq, Jordan, Kuwait, Qatar, and Tunisia will be combined. The partnership has not yet been made public, but it has the potential to drastically alter the Gulf region's telecom market.      The combination of telecom assets highlights a strategic partnership intended to promote productivity and creativity in the quickly changing telecommunications industry. The three Gulf businesses hope to improve network performance, cut down on operational redundancies, and open the door for more developments in telecom services by pooling their tower assets. The action is evidence of these countries' resolve to strengthening their standing in the international telecommunications arena in addition to their financial cooperation.      This col

COP28's Green Zone in Dubai Sparks Environmental Engagement and Artistry

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  The vibrant atmosphere of the UN climate conference's public opening in Dubai's Green Zone has captivated thousands of residents and tourists alike. Offering a distinctive blend of environmental displays, discussions, and artistic showcases, this zone is a testament to the UAE's commitment to engaging the broader community in climate action. Open to all who obtained their free one-day pass, the Green Zone serves as an inclusive platform for raising awareness and fostering dialogue on pressing environmental concerns. #COP28 Green Zone in Dubai welcomes public with pledges and art for a cause. Watch the full #Video : https://t.co/LeueT1Shpv @gulf_news pic.twitter.com/ISymt1damf — Gulf News Video (@GulfNewsVideo) December 5, 2023 The Green Zone offers more than just displays; it provides an interactive escape room themed around mangroves, emphasizing nature's crucial role in climate resilience. The Mangrove Edition Escape Room invites participants to delve into

Ethiopia and UAE's AMEA Power Ink $600 Million Wind Farm Deal for Green Energy Push

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  Ethiopia has taken a significant stride toward renewable energy with the signing of a $600 million agreement with UAE's AMEA Power for the construction of a 300-megawatt wind farm. The Aysha wind farm, set to cover 18,000 acres of land, represents a major push by Ethiopia to expand its electricity coverage. As of 2020, only 50% of the population had access to electricity, leaving 60 million people without a connection to the grid, according to the World Bank. #BREAKING || Ethiopia Inks Landmark Deal To Build Horn Of Africa’s Largest 300 MW Onshore Wind Project. Ethiopia's Ministry of Fince has signed a landmark $600M agreement with UAE renewable energy leader AMEA for development of Aysha Wind Power Project. pic.twitter.com/zqXI3scCHZ pic.twitter.com/vtB1T6mm6j — redCpost (@redCpost) December 4, 2023 This ambitious wind farm project is a pivotal move for Ethiopia as it seeks to increase electricity coverage and harness clean, sustainable energy. The Aysha win

UAE Pledges $30 Billion Investment at COP28 to Combat Climate Crisis

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  In a groundbreaking move at the United Nations' COP28 Climate Summit, UAE President Mohammad bin Zayed announced a massive $30 billion commitment to fund projects addressing climate-related crises in developing nations. This substantial investment aims to bridge existing gaps in climate finance and stimulate private contributions, with the overall target reaching $250 billion by 2030. President bin Zayed emphasized the critical need for accessible and affordable climate finance, citing the newly established UAE fund named Alterra as a strategic initiative to facilitate this. The fund's allocation includes $25 billion to attract institutional capital for large-scale climate investments and an additional $5 billion for risk mitigation capital, encouraging investment flows into developing countries. The Alterra fund sets an ambitious goal of stimulating around $250 billion in investments by the end of the decade, focusing on initiatives that drive the transition to green energy