World Green Economy Summit in Dubai supports UAE’s preparations for hosting COP28 next year

DUBAI, Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai Electricity and Water Authority (DEWA), and the World Green Economy Organisation (WGEO), will organise the 8th World Green Economy Summit (WGES) on 28th and 29th September, 2022, in conjunction with the Water, Energy, Technology and Environment Exhibition (WETEX) and Dubai Solar Show (DSS).

Besides its leading role in promoting a green economy, the WGES plays a key role in supporting the UAE’s outstanding climate action efforts and its commitment to sustainability. It also reflects the UAE’s unlimited support for energy and climate change issues and developing sustainable solutions to environmental challenges.

This supports the UAE’s preparations to host the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) at Expo City Dubai in 2023. This is the most important and largest international conference on climate action that brings together world leaders, underlining the UAE’s leadership and its widely recognised efforts in climate action.

Since its launch in 2014, the WGES has succeeded in galvanising global efforts to promote the shift towards a green economy and has provided a strategic platform to support international cooperation to face global challenges, promote sustainable development and investments in the green economy, encourage adoption of effective policies, plans, and initiatives in this area, and discuss pressing issues including climate change and global warming.

The WGES helps align energy policies with the Sustainable Development Goals, exchange views on successful sustainability strategies, systems and policies, and use available opportunities to support the transition to a green economy.

The WGES brings together several leaders, experts and specialists in various areas related to the green economy and sustainable development.

“The UAE plays a leading role in supporting global efforts in clean and renewable energy through its strategies and investments in this area. Guided by the vision and directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to turn challenges into opportunities, the WGES aims to change climate work into opportunities for development and economic diversity. The 8th WGES is especially important as the UAE is preparing to host COP28 next year at Expo City Dubai. WGES supports the efforts of the UAE and global efforts to adopt innovative green solutions, promote innovation for sustainable development, and achieve a balance between economic growth and sustainability of natural and environmental resources. The WGES also supports the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 for Dubai to provide 100 percent of Dubai’s total power capacity from clean energy sources by 2050,” said Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy, MD & CEO of DEWA and Chairman of the WGES.

“The momentum observed worldwide in recent years to accelerate the implementation of the Paris Agreement, adopted during the Conference of the Parties (COP 21), reflects the importance of establishing policies and mechanisms that guarantee sustainable development and the transition to a green economy. In line with the UAE’s plan for green development, Dubai developed the country’s vision by implementing vital projects that support renewable energy, energy efficiency and conservation. It ensured the engagement of the private sector as an essential part of implementation and financing. The role of the private sector in implementing renewable energy projects has been one of the most important ingredients for success, which reflects the reputation and position of the UAE globally in attracting the largest companies and using the latest technologies. The WGES provides the ideal and unique platform for exchanging experiences and aligning efforts that support the regional and global agenda for sustainable development,” Al Tayer added.

“The UAE is one of the leading countries in the world supporting the green economy and international efforts in clean energy. It has set its long-term goals in the energy field and has launched the UAE Net Zero by 2050 strategic initiative, a national drive to achieve net-zero emissions by 2050,” said Suhail Al Mazrouei, Minister of Energy and Infrastructure.

“During a record period, the UAE has expanded in the field of clean energy, thanks to the legislation and laws that have kept pace with the current developments and future challenges, and set ambitious goals for the future, which in turn has strengthened the investment system in this vital sector, that is the centrepiece of the national economy. The World Green Economy Summit is a major supporter of the UAE’s efforts and endeavours to achieve a balance between energy and the environment, and to map out the features of a sustainable future capable of transforming challenges into opportunities, in line with the provisions of the Paris Agreement on climate change,” added Al Mazrouei.

“In line with the wise leadership’s vision to adopt a comprehensive and balanced approach to climate action through a well-thought-out transformation in the energy sector, the World Green Economy Summit supports the national efforts to achieve the Sustainable Development Goals. This is particularly important as the UAE is preparing to host COP 28 at Expo City Dubai next year. The World Green Economy Summit is an important platform that supports the UAE’s direction and global efforts to adopt innovative green solutions that contribute to achieving a balance between economic and social growth and the sustainability of natural resources, as well as focus on renewable and clean energy solutions,” said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and UAE Climate Change Special Envoy.

“For three decades, the UAE has presented a pioneering model of climate and environmental action to the world. Last October marked the landmark announcement of the UAE Net Zero by 2050 Strategic Initiative that takes a holistic cross-sectoral collaborative approach to decarbonisation. As we gear up to host COP28 in 2023, we are keen to take meaningful steps in our climate action – most importantly, advancing the shift to a green economy. WGES is a leading global platform that drives climate and environmental action through convening decision-makers and experts to assess the progress made thus far in the transition to a green economy, explore the next steps, and expedite collective endeavours,” said Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment.

Almheiri thanked the WGEO and DEWA for the impeccable organisation of the past editions of the summit. She added that the event aligns with the UAE’s directives and global priorities and contributes to boosting the country’s competitiveness and reaffirming its global leadership in building a green economy.

Source: Emirates News Agency

Dubai Investments reports net profit of AED364 million in H1 2022

DUBAI, Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market (DFM), has reported a 20.5 percent rise in net profits to AED364 million for the six-month period ended 30 June 2022, as compared to AED302 million during the corresponding period of 2021.

The growth in the profit by AED62.01 million is mainly driven by the continued strong performance of the Group’s manufacturing, contracting and services segment. Total assets for the Group remained stable at AED22 billion. Total equity increased to AED12.1 billion compared to AED11.98 billion during the same period last year.

The Group has completed divestment of 50 percent equity interest in Emirates District Cooling (Emicool) LLC and will recognise the resultant gain on disposal and fair valuation gain on retained interest amounting to AED980.4 million in Q3 2022.

Khalid Bin Kalban, Vice Chairman and Chief Executive Officer of Dubai Investments, said, “We are already halfway through 2022 and the results during this time reiterate the resilience of our business model and it is worthy to note that we have been moving steadily with a continuous and a consistent growth plan. As a Group, we are focussed on a strategic diversification process through organised investments and divestments. Despite the challenging macro economic environment, our outlook for the rest of the year remains cautiously optimistic, as we are focused on channelising efforts towards expanding business regionally and identifying strategic investment opportunities across our businesses.”

Source: Emirates News Agency

ADNOC announces $1.17 billion contract for jack-up barges to support production capacity growth

ABU DHABI, Abu Dhabi National Oil Company (ADNOC) announced today a $1.17 billion (AED4.3 billion) contract for the hire of 13 self-propelled jack-up barges to drive offshore operational efficiencies and support the expansion of its crude oil production capacity to five million barrels per day (mmbpd) by 2030.

The five-year contract was awarded by ADNOC Offshore to ADNOC Logistics & Services (ADNOC L&S) and underpins the world-class capabilities within ADNOC’s group companies.

Over 80 percent of the award value will flow back into the UAE’s economy under ADNOC’s successful In-Country Value (ICV) programme, supporting local economic growth and diversification.

The 13 self-propelled jack-up barges are multi-purpose assets that enable rig-less operations and maintenance with single-point responsibility provided by ADNOC L&S, enabling enhanced efficiencies. The barges, which will be deployed across ADNOC’s offshore fields, are equipped to support a wide scope of operations, including project work, maintenance and accommodation.

Ahmad Saqer Al Suwaidi, ADNOC Offshore CEO, said, “This significant award to ADNOC Logistics & Services will help deliver our production capacity expansion in the offshore and directly support ADNOC’s strategic growth objective of 5 million barrels of daily oil production capacity by 2030.

ADNOC L&S have a proven track record in the industry, and their best-in-class expertise, together with the ready availability of these self-propelled jack-up barges, will help us drive efficiencies and flexibility while cementing ADNOC’s position as a leading low-cost and low-carbon energy producer. Critically, the award enables very high ICV, which can stimulate new business opportunities to support the growth and diversification of UAE’s economy in line with our wise leadership’s directives.”

Speaking on the contract, Captain Abdulkareem Al Masabi, ADNOC Logistics & Services CEO, said, “We are extremely proud to continue the decades-long relationship between ADNOC Offshore and ADNOC Logistics & Services. We are committed to continuing to seize growth opportunities and deliver more value to ADNOC, and this announcement is another milestone in that journey. These vessels represent an important opportunity for growth and diversification for ADNOC L&S and will be a critical enabler of ADNOC Offshore’s growth.”

The self-propelled jack-up barges will be hired along with manpower and equipment. The barges will be utilised for rig-less well intervention and pre- and post-drilling operations, and topside maintenance and integrity restoration activities at our offshore assets.

Instead of these services being provided through several discrete, operationally specific contracts, all requirements have been unified in line with ADNOC’s smart approach of centralising procurement and operational logistics management. This provides ADNOC Offshore and its strategic partners with operational flexibility while enabling cost efficiencies and single-point responsibility by ADNOC L&S.

The award underpins the continued investment and development at ADNOC Offshore and ensures the responsible acceleration of growth and greater value for the UAE, ADNOC and its strategic partners.

Source: Emirates News Agency

Ajman registers 13% growth in certificates of origin during H1, 2022

AJMAN, The Ajman Chamber of Commerce and Industry (ACCI) has issued 19,008 certificates of origin worth more than AED4.3 billion in H1, 2022, compared to 16,768 certificates with a value of AED4.1 billion issued during the same period last year, with a growth rate of 13 percent.

Abdullah Al Muwaiji, Chairman of the ACCI, stated that Ajman possesses many supporting potentials that contribute directly to the growth of export and re-export, including advance infrastructure and road network, flexibility of licences, and availability of logistics services, in addition to the ease and speed of handling at the port of Ajman.

He revealed that Libya topped the list of prominent export and re-export countries, followed by Saudi Arabia, and then Egypt. The most exported products from Ajman included oil derivatives, mineral fuels, seafood.

Ajman Chamber is keen to diversify service channels and provide fast and flexible services, he said, adding that the request for certificate of origin can be made through the ACCI’s website or by visiting the service centre in its headquarters.

ACCI has issued a set of commercial reports to its members, traders, and industrial business owners, to identify export opportunities available in global markets, which contribute to increasing local production and the growth of exports.

This contributes to the “10×10” Programme – the economic programme for developing the country’s exports, targeting ten global markets and an annual increase of ten percent in exports to these markets.

Source: Emirates News Agency

MoHRE issues resolution on bank guarantees and employees’ protection insurance scheme

DUBAI, Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, has issued the Ministerial Resolution No. 318 of 2022 regarding bank guarantees and employees’ protection insurance scheme in the private sector.

This decision is in line with the legislative framework that aims to preserve workers’ rights, support the business community, enhance the competitiveness and stability of the UAE’s work environment, and strengthen its reputation as a preferred and safe destination to live, work, and invest.

Aisha Belharfia, Assistant Undersecretary for Labour Affairs at the Ministry of Human Resources and Emiratisation (MOHRE), said, “The UAE’s commitment to guarantee and balance the rights of workers and employers reflect national legislations and highlight the nation’s active role in the main agreements originating from the International Labour Organisation.”

“Offering establishments the option of choosing between providing a bank guarantee or an insurance policy allows them to choose what is most suitable for them and helps reduce operational costs, enabling employers to fulfil their legal obligations towards their workers,” she added.

Under the new resolution, establishments may pursue one of two options – the first, provide a bank guarantee of no less than AED3,000 for each worker, paid through a UAE-based bank, provided that the guarantee is valid for one year, can be automatically renewed and paid at the Ministry of Human Resources and Emiratisation’s demand, without any other restrictions.

The second option entails a 30-month insurance policy, at a value of AED137.50 for each skilled worker, AED180 for each low-skilled worker and AED250 for each worker paid by high-risk establishments that are not registered with the Wages Protection System (WPS).

The insurance coverage amounts to up to AED20,000 and includes the wages of the worker’s last 120 working days, the end-of-service gratuity, the expenses of returning the worker to their home country, and in the event of the worker’s death, the costs of repatriating the body to his home country, and other rights and entitlements that the employer is unable to fulfil, based on a decision by the ministry or the concerned labour court.

The resolution outlines four cases where the employer may submit a request to reclaim the employee’s bank guarantee or the remainder therefrom, including – in the event of cancellation of the employee’s work permit and providing proof of their departure from the country; in case of the employee’s death and providing proof of the body’s repatriation or burial in the UAE; if the employee is transferring to a new employer; or any other case in which the employer provides proof of cancellation of the employee’s work permit and payment of entitlements due to the employee.

The Ministry of Human Resources and Emiratisation reserves the right to refuse to reimburse the bank guarantee to the employer in two cases – if the employer is a party to a collective labour dispute until the employee’s entitlements are settled; or if evidence of due fines against the establishment is proven, or if the establishment’s work permits have been suspended.

Source: Emirates News Agency

Technology Innovation Institute, Khalifa University, global partners achieve breakthrough in RISC-V-based UAV Systems

ABU DHABI, In collaboration with multiple university and industry partners, the Technology Innovation Institute (TII), a leading global scientific research centre and the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), today announced that its Secure Systems Research Centre (SSRC) has marked a watershed in progressing the country’s first Reduced Instruction Set Computer (RISC-V) based System-on-Chip (SoC) research.

Through multiple local and global partnerships, including those with the System-on-Chip Lab (SoCL) at Khalifa University of Science and Technology (KU), University of Bologna, University of Modena and Reggio Emilia, New York University Abu Dhabi, Cadence Design Systems, Siemens EDA, and Global Foundries, SSRC successfully developed “Shaheen”, the first-of-its-kind programme to be conceptualised and designed in the UAE. The test chip serves as a drone flight controller for Unmanned Aerial Vehicles (UAVs), utilising the centre’s very own secure PX4 drone autopilot stack.

“Shaheen” is the first-ever complex SoC that serves as a pilot version of the Al Saqr SoC that is slated for release in 2023. “Shaheen” incorporates several new capabilities, including a hypervisor extension added to a 64-bit RISC-V processor core that can run multiple guest operating systems (OS) in parallel, as well as Zero Trust security techniques to avoid supply chain vulnerabilities and integrated Parallel Ultra-Low-Power (PULP) ML accelerator engine with floating point extensions to eliminate model quantisation. In addition, it features a physical unclonable function (PUF) chip which uses a specific fingerprint for secure provisioning and authentication. “Shaheen” supports various peripherals such as SPI, I2C, UART, JTAG, CAN, ETH (RMII), SDIO, GPIOs, PWM, CPI, and C2C.

The launch of “Shaheen” is significant for two reasons. First, it provides the UAE with the fundamental know-how to build its own silicon for national and global use while enabling the potential proliferation of high-skilled jobs in the country. This is a step in the right direction for the UAE as it eyes leadership within the Zero Trust end-to-end security and resilience domains in both cyber-physical and autonomous systems.

Second, “Shaheen” allows both commercial and government entities in the UAE to maintain significant manufacturing autonomy without relying heavily on high-performance functionalities from other countries, as has always been the case in the past. The programme’s role as a test vehicle and precursor to Al Saqr marks a crucial first step in gaining valuable insights about SoC’s capabilities, security, performance, reliability, and resilience – notably in enhancing the security of UAVs applying Zero Trust principles.

Speaking of the new milestone, Dr. Ray O. Johnson, CEO of TII and ASPIRE, said, “RISC-V’s ISA is revolutionising the world of computing systems, and TII is building this new capability into our growing portfolio of advanced tech solutions, as we continue to future-proof our world – one step at a time. The use cases for drones and similar autonomous systems now span multiple sectors, from e-commerce to healthcare and communication to security. This achievement will further strengthen our credibility as a global research centre at the forefront of cutting-edge technology that is working to shape an enabled and more secure world.”

Dr. Shreekant Thakkar, Chief Researcher, SSRC and Adjunct Research Professor, KU, said, “The RISC-V.org community is the leading open Instruction Set Architecture (ISA) community of processor architecture. A significant part of the work in realising this project required implementing the RISC-V hypervisor extensions to the CPU to run multiple, isolated OSes in parallel. The SSRC is actively working with the RISC-V.org community in shaping the future of SoC security, and subsequently putting the TII on the world map as a leader in pioneering Zero Trust Drone System research.”

Dr. Steve Griffiths, Senior Vice President, Research and Development, Khalifa University, said, “Khalifa University’s SoCL, led by Dr. Baker Mohammed, is the only centre of its kind in the UAE, and it was established specifically for engaging in leading-edge research and development of electronic circuits and systems, as well as related sensor technologies. The breakthrough we have achieved with the TII’s SSRC demonstrates the value of strong partnerships between academic and industry partners. Such alliances will help accelerate the UAE’s vision for establishing technologically advanced industries based on local research and innovation.”

The advent of RISC-V is creating enormous opportunities for countries like the UAE to design their own SoCs and independently govern open-source hardware development. “Shaheen” demonstrates the importance of collaborative efforts between scientific research and academic communities in driving open source, transformative technologies. The upcoming Al Saqr SoC research programme will further enhance and reinforce the UAE’s leadership in pioneering new hardware and software capabilities.

Source: Emirates News Agency