May 2024
Fine Hygienic Holding Earns EcoVadis Silver Rating for Sustainability Leadership
Hashtags: #SustainabilityLeadership #EcoVadisSilver #CSR #HygieneIndustry #EnvironmentalResponsibility #FineHygienicHolding #AlNakheel #SustainablePractices
Dubai, 1 May 2024 ( Press Release): Fine Hygienic Holding’s Al Nakheel Hygienic Paper Manufacturing LLC has achieved the prestigious EcoVadis Silver Rating, recognizing its commitment to sustainability and corporate social responsibility. This accomplishment underscores FHH’s leadership in implementing environmentally friendly practices and ethical business standards within the hygiene industry. CEO James Michael Lafferty expressed pride in the achievement, emphasizing FHH’s dedication to sustainability and excellence. The recognition from EcoVadis reinforces FHH’s position as a preferred hygiene provider for organizations prioritizing sustainability. FHH remains committed to advancing sustainability initiatives and making a positive impact on both the environment and society.
#SustainabilityLeadership #EcoVadisSilver #CSR #HygieneIndustry #EnvironmentalResponsibility #FineHygienicHolding #AlNakheel #SustainablePractices
Saudi Red Sea Authority and NEOM Forge Partnership to Boost Marine Tourism
Riyadh, 3 May 2024 (Press Release): Saudi Red Sea Authority (SRSA) has inked a memorandum of understanding (MoU) with NEOM, aiming to advance marine tourism legislation, regulations, and technology in Saudi Arabia. The collaboration will foster expertise sharing and joint initiatives implementation to enhance research, innovation, and visitor experiences in the Red Sea coastal destinations. Acting CEO Mr. Mohammed Al-Nasser represented SRSA, while NEOM CEO Nadhmi Al-Nasr signed the agreement. The MoU underscores SRSA’s dedication to catalyzing investment in coastal tourism and supporting small and medium enterprises. Aligning with Saudi Vision 2030, SRSA aims to integrate with public, private, and third sectors to bolster coastal tourism as a vital sector of the national economy. The partnership includes cooperation in supporting investment opportunities, planning joint initiatives, and promoting sustainable marine tourism practices. This initiative reflects SRSA’s commitment to expand strategic partnerships and regulate marine tourism activities while ensuring environmental sustainability.
#SaudiRedSeaAuthority #NEOM #MarineTourism #SaudiVision2030 #StrategicPartnerships #Sustainability
Accelerating Solar Adoption in East Africa: Davis & Shirtliff Partners with Trina Solar
Davis & Shirtliff, a leading provider of water and energy solutions in East Africa, has teamed up with Trina Solar, a Tier-I global leader in PV modules and smart energy solutions, to drive solar power adoption in the region. The partnership aims to promote sustainability, energy security, and economic growth through the distribution of innovative solar panels and educational campaigns. With increasing demand and government initiatives, solar energy is transforming East Africa’s energy landscape, offering benefits such as reduced carbon emissions and improved energy access.
Read more: Solar Adoption in East Africa: Davis & Shirtliff Partners with Trina Solar
#SolarPower #EastAfrica #RenewableEnergy #Sustainability #TrinaSolar #DavisandShirtliff
Mongolia Pursues Free Trade Agreement with Eurasian Economic Union
According to AKIPRESS.COM, Mongolia is aiming to finalize a temporary free trade agreement with the Eurasian Economic Union (EAEU) by the close of 2024, as stated by Unubilegt Delgertsetseg, First Secretary of the Ministry of Foreign Affairs of Mongolia. Delgertsetseg mentioned during the plenary session of the international scientific and practical conference “Current issues of Russian-Mongolian cooperation” that negotiations with the Eurasian Union have already commenced for the conclusion of this agreement. Expressing optimism, Delgertsetseg hopes that the negotiations will culminate in the agreement’s signing by the end of the year. He emphasized the necessity for unified and thoughtful action to address the challenges faced, aiming for sustainable and balanced growth in the region.
Growth in Service Sector Boosts Trade within the Eurasian Economic Union
The Eurasian Economic Union (EAEU) witnessed a significant increase in the turnover of services among its member states in 2023 compared to the previous year. Armenia saw a notable 33.6% rise in the positive balance of trade in services, while Belarus experienced a decrease of 32.7%. Transport services and travel dominated the structure of exports and imports of services across most member states, highlighting the importance of these sectors. The Eurasian Economic Commission (EEC), established in 2012, serves as the union’s permanent regulatory body, overseeing economic policies and initiatives. The growth in service sector turnover underscores the region’s economic development and interconnectedness. Moving forward, continued collaboration and efforts to address disparities among member states will be crucial for sustaining this positive momentum within the EAEU.
Lower economic growth and trade disruptions in 2024 to impact development
24 April 2024, UNCTAD (Press Release: Amidst projections of further economic slowdown and trade disruptions in 2024, a recent report by the UN Trade and Development (UNCTAD) emphasizes the imperative of coordinated multilateral action to address pressing global economic challenges. Led by Secretary-General Rebeca Grynspan, the report highlights the need for a balanced policy mix and concerted efforts to safeguard the global economy amidst shifting trade patterns, mounting debt, and the escalating costs of climate change, particularly impacting developing nations.
The prospect of interest rate cuts offers a glimmer of hope for alleviating pressure on private and public budgets worldwide. However, the report cautions that monetary policy alone cannot adequately tackle the multifaceted challenges at hand. Instead, it underscores the importance of a comprehensive approach, integrating fiscal, monetary, demand-side, and investment-boosting measures to foster sustainable growth and equitable income distribution.
Central to the report’s recommendations is the call for addressing systemic issues such as international trade asymmetries and market concentration. This includes advocating for reforms to enhance fiscal flexibility and strengthen the global financial safety net, thereby advancing the Sustainable Development Goals (SDGs) and promoting inclusive growth.
Furthermore, the analysis delves into the complexities of inflation dynamics, highlighting the role of supply chain disruptions and market dominance. Despite stable employment, inflation decreased in 2023, underscoring the need for nuanced policy responses. Notably, real wages remain below pre-pandemic levels, emphasizing the urgency of addressing income disparities.
In conclusion, the UNCTAD report serves as a clarion call for concerted multilateral action and policy coordination to navigate the intricate challenges facing the global economy. From addressing trade imbalances to ensuring inclusive growth and tackling inflation dynamics, collaborative efforts among nations are essential in charting a path towards sustainable development and prosperity for all.
Konza Technopolis and Acyberschool Partner to Train One Million Kenyans in Cybersecurity and AI
24 April 2024, Nairobi( Press Release) : Konza Technopolis Development Authority (KoTDA) has joined forces with Acyberschool to train one million Kenyans in Artificial Intelligence (AI) and cybersecurity. The collaboration, formalized at the ongoing Connected Africa Summit 2024, aims to equip Kenyan youth with essential skills for the digital economy.
Over the course of five years, the partnership will focus on resource mobilization to ensure the successful implementation of the training program. John Paul Okwiri, CEO of KoTDA, expressed optimism about the initiative’s potential to enhance the Jitume Digital Skills program and accelerate digital skills development nationwide.
“We’re thrilled to partner with Acyberschool to provide Kenyan youth with training in AI, emerging technologies, and cybersecurity solutions,” said Okwiri. The phased program targets one million youth, emphasizing the importance of collaboration in achieving this goal.
Evalyn Oloo, CEO of Acyberschool and Chairperson of the Africa Cybersecurity and AI Foundation (ACAIF), underscored the significance of cybersecurity and AI in shaping the future workforce. She urged young Kenyans to seize the opportunity to acquire relevant skills for the digital industry.
The partnership aligns with efforts to leverage youth talent for digital transformation, echoing sentiments expressed at the Connected Africa Summit 2024. Konza Technopolis, alongside key stakeholders, remains committed to fostering digital technology growth in Kenya through initiatives like the Jitume Program.
Emaar Development notes Strong Performance
23 April 2024 (Press Release)
Emaar Development PJSC (DFM: EMAARDEV) convened its Annual General Meeting (AGM) on April 23, 2024, highlighting the company’s robust performance throughout 2023.
Shareholders unanimously approved the distribution of dividends totaling AED 2.082 billion (US$ 567 million), showcasing Emaar’s dedication to enhancing shareholder value. The Board’s comprehensive report on the company’s operations and financial status, along with the Auditor’s report, received widespread approval.
Emaar Development reported a remarkable 22% increase in property sales, reaching AED 37.4 billion (US$ 10.2 billion), contributing to a healthy sales backlog of AED 57.1 billion (US$ 15.5 billion). The company achieved a revenue of AED 11.9 billion (US$ 3.2 billion) and a net profit of AED 6.6 billion (US$ 1.8 billion), marking a substantial 74% growth compared to the previous year.
In 2023, Emaar Development delivered over 12,000 residential units across premier locations in the UAE, further solidifying its position as a leading developer in the region. With over 70,000 residential units delivered to date and an additional 25,500 units under development, Emaar continues to shape Dubai’s landscape.
Mohamed Alabbar, Founder of Emaar Properties, expressed gratitude for shareholders’ unwavering support and outlined ambitious plans for 2024, emphasizing Emaar’s commitment to excellence and innovation in property development.
Hashtaged Keywords: #EmaarDevelopment #AGM #property #Dubai #financialperformance #residentialunits #growth #shareholders #MohamedAlabbar
MG Motor Unveils All-New MG 7 Sedan in GCC, Lebanon, and Iraq
23 April 2024 (Press Release)
MG Motor has launched its latest offering, the MG 7 sedan, across GCC markets, Lebanon, and Iraq. This expansion signifies a significant move for the British brand, boasting a blend of sophistication and cutting-edge technology. With options of 1.5L or 2.0L Turbo petrol engines, the MG 7 promises a thrilling driving experience. Priced from USD 21,300, it offers exceptional value for its class, coupling economy, style, and performance. Additionally, customers enjoy a generous 6-year/200,000 km warranty. Boasting a sleek design and dynamic features like sporty red calipers and 19-inch wheels, the MG 7 sets a new standard for elegance in the MG lineup.
MG Motor is a British-born automotive brand established in 1924, known for its historic models,
awards, and achievements throughout the past 100 years. MG was founded by William Morris and
Cecil Kimbers and has one of the oldest car clubs in the automotive industry. Best known for its
two-seat open sports cars, MG Motor also produced saloons and coupes. Since its acquisition of
MG, SAIC MOTOR, as a Global Top 500 company, has opened a new chapter for this British icon.
MG Motor is at the forefront of the introduction of innovative technologies and new energy vehicles
for car buyers.
- The MG 7 will be available in all GCC markets, Lebanon, and Iraq, with prices starting
from USD 21,300 (excluding VAT) - The MG 7 offers cutting-edge race mode capabilities, complemented by luxurious
details including a sleek aerodynamic design and integrated motorsport seats - Available with either 1.5L or 2.0L Turbo petrol engines, offering drivers a powerful
and an immersive driving experience, backed by a generous 6-year/200,000 km
manufacturer’s warranty
#MGMotor #MG7 #sedan #GCC #Lebanon #Iraq #British #technology #performance #innovation #value #elegance #sophistication #drivingexperience #petrol #warranty #aerodynamic #design #style #streamlined #dynamic
Cenomi Retail Taps Deloitte for Aleph Divestment Strategy
23 April 2024 ( Press Release)
Cenomi Retail, a leading Saudi retail brand, has enlisted Deloitte to facilitate the sale of Aleph, its Apple-focused venture in KSA. The move underscores Cenomi’s focus on flagship brands in core sectors like Fashion and Food & Beverage, bolstering its transformation agenda with operational enhancements. With Aleph boasting 19 existing stores and plans for further expansion, Deloitte’s appointment signifies a critical step in Cenomi’s divestment roadmap, aligning with its broader strategy of shedding 39 brands in 2024. Proceeds from Aleph’s sale will fuel Cenomi’s debt reduction efforts, marking a significant milestone in its turnaround journey.
STPI Launches FinGlobe to Foster Fintech Startups in Gandhinagar
The Software Technology Parks of India (STPI) unveiled its 24th Center of Entrepreneurship (CoE), “FinGlobe,” in Gandhinagar, dedicated to nurturing startups in the fintech and banking sectors. In a ceremony inaugurated by Shri K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA), the CoE aims to accelerate innovation and growth in financial technology.
In collaboration with the Department of Science and Technology, Government of Gujarat, FinGlobe seeks to be a catalyst for cutting-edge technological developments in financial services. The CoE provides 50 Plug-n-Play incubation seats and offers state-of-the-art infrastructure, expert mentorship, and a collaborative ecosystem to empower entrepreneurs and established players in the fintech, TechFin, banking, and related domains.
During the launch event, five Memorandums of Understanding (MoUs) were exchanged between STPINext Initiatives and its CoE partners, including (n)Code Solutions, CrAdLE at the Entrepreneurship Development Institute of India, Pandit Deendayal Energy University, GVFL Limited, and TiE-Ahmedabad.
STPI Director General Shri Arvind Kumar emphasized the CoE’s significance in driving digital transformation and job creation, positioning Gujarat as a prominent IT destination. FinGlobe aims to enable startups to penetrate new areas of the financial system, fostering innovation and reshaping the competitive landscape. #STPI #FinGlobe #Fintech #Gandhinagar #Entrepreneurship #Startups
India AI Mission to Boost AI Innovation
The Government of India, greenlights the ambitious IndiaAI mission with a budget of Rs. 10,371.92 crore. This comprehensive initiative aims to strengthen the nation’s AI innovation ecosystem by establishing public AI compute infrastructure, investing in indigenous foundational models, and financing AI startups from conception to commercialization.
Key Components of the IndiaAI Mission:
- IndiaAI Compute Capacity: Establishing a public-private partnership to develop a high-end AI computing ecosystem with over 10,000 GPUs. An AI marketplace will provide resources for AI innovation.
- IndiaAI Innovation Centre: Focusing on developing indigenous Large Multimodal Models (LMMs) and domain-specific foundational models.
- IndiaAI Datasets Platform: Streamlining access to quality non-personal datasets for AI innovation.
- IndiaAI Application Development Initiative: Promoting AI applications in critical sectors sourced from Central Ministries, State Departments, and other institutions.
- IndiaAI FutureSkills: Increasing AI courses in educational programs and setting up Data and AI Labs in Tier 2 and Tier 3 cities.
- IndiaAI Startup Financing: Supporting deep-tech AI startups and providing streamlined access to funding.
- Safe & Trusted AI: Implementing Responsible AI projects and developing indigenous tools and frameworks for safe and ethical AI development.
The IndiaAI Mission aims to propel innovation, build domestic capacities, create skilled employment opportunities, and demonstrate AI’s potential for social good on a global scale. #IndiaAI #AIInnovation #TechSovereignty #StartupFunding #EthicalAI
KVIC Boosts Rural Artisans with Machinery and Tool Kits in Jammu & Kashmir
In a move to empower rural artisans and align with Prime Minister Shri Narendra Modi’s vision, the Khadi and Village Industries Commission (KVIC) distributed 411 machinery and toolkits under the Khadi Gramodyog Vikas Yojana in Jammu and Kashmir. The distribution, led by KVIC Chairman Shri Manoj Kumar and attended by KVIC Member Shri Nagendra Raghuvanshi, also included initiatives like providing 300 Bee Boxes to beekeepers, 100 Electric Wheels to potters, and 10 Hydra Pulper Paper Mache machines to artisans.
Shri Kumar emphasized the Modi government’s commitment to promoting Khadi and Village Industries products globally, enhancing rural artisans’ livelihoods. He highlighted KVIC’s efforts in providing modern training, toolkits, and machinery to artisans, contributing to the ‘Aatmanirbhar Bharat Abhiyan’ and ‘Ek Bharat Shrestha Bharat Abhiyan’. Notably, KVIC’s initiatives have positively impacted over 1 lakh potters and distributed over 2 lakh Honey Bee Boxes to beneficiaries.
Through various schemes like PMEGP, KVIC has facilitated the establishment of new units, providing employment opportunities to thousands in Jammu and Kashmir. Shri Kumar underscored KVIC’s role in realizing the dream of an Aatmanirbhar Bharat by promoting village industries and providing skill development training to rural workers. #KVIC #RuralArtisans #JammuAndKashmir #Empowerment #AatmanirbharBharat
4 Crore Enterprises Register on Udyam and UAP, a Landmark Achievement for MSME Formalization
On March 15, 2024, the total registered enterprises on Udyam and UAP surpassed 4 crore, marking a significant milestone in the formalization initiative led by the Ministry of Micro, Small and Medium Enterprises (MSME). Committed to fostering the growth of MSMEs, the Ministry introduced a composite definition of investment and turnover for classifying micro, small, and medium enterprises through notifications in June and July 2020.
The launch of the Udyam Registration Portal (Udyam) in July 2020 provided a simple and free online platform for enterprises with PAN to formalize their operations, considering both investment and turnover. Subsequently, the Ministry introduced the Udyam Assist Platform (UAP) in January 2023 for enterprises without a GSTIN.
Recognizing the importance of these initiatives, the Government of India specified that certificates issued by UAP to Informal Micro Enterprises (IMEs) are equivalent to Udyam Registration Certificates for availing Priority Sector Lending (PSL) benefits. The RBI also categorized IMEs with Udyam Assist Certificates as Micro Enterprises under MSME for PSL classification.
This achievement underscores the government’s commitment to promoting MSMEs and facilitating their formalization, paving the way for their integration into the formal economy and unlocking growth opportunities. #MSME #Udyam #Formalization #Entrepreneurship #EconomicGrowth
ILO Report: Climate Change Poses Grave Health Risks for Over 70% of Global Workforce
A new report by the International Labour Organization (ILO) reveals that more than 70% of the world’s workers are likely to face health hazards due to climate change. The report highlights a range of serious health consequences, including cancer, cardiovascular diseases, respiratory illnesses, kidney dysfunction, and mental health conditions.
According to the report, over 2.4 billion workers globally are expected to be exposed to excessive heat at some point during their work, leading to significant health risks. Additionally, around 18,970 lives are lost annually due to occupational injuries related to excessive heat, with millions suffering from chronic kidney disease attributed to workplace heat stress.
The impact of climate change on workers extends beyond heat exposure, encompassing a “cocktail of hazards” that result in various dangerous health conditions. For instance, millions of workers face risks such as UV radiation exposure, workplace air pollution, pesticide exposure in agriculture, and parasitic and vector-borne diseases.
Manal Azzi, OSH Team Lead at the ILO, emphasizes the urgent need to integrate occupational safety and health considerations into climate change responses. The report calls for robust measures, including legislative reforms, regulations, and improved climate mitigation strategies in workplaces, to ensure the safety and well-being of workers in the face of climate change challenges. #ILOReport #ClimateChange #HealthHazards #WorkplaceSafety #GlobalWorkforce
Kaspersky Thin Client 2.0: Enhanced Cyber Immune Protection for Remote Desktop Access
19 April 2024, (Press Release): Kaspersky unveils its latest innovation, Kaspersky Thin Client 2.0 (KTC 2.0), revolutionizing remote desktop access with advanced cybersecurity features. Developed under the Cyber Immune approach, KTC 2.0 ensures robust security by design, even in hostile environments, powered by the resilient KasperskyOS.
Preinstalled on the Centerm F620 hardware platform, KTC 2.0 is a ready-made endpoint device resulting from an OEM contract between Kaspersky and Centerm, a leading thin client manufacturer globally.
The new version of KTC 2.0 boasts significant updates in connectivity, performance, and usability:
Enhanced Connectivity: Offers new remote connection methods, including Web Access application for Citrix Workspace and VMware Horizon platforms, and support for individual business applications on Microsoft Remote Desktop Services and Windows Server.
Improved Performance: Features faster application delivery, shorter boot time, and quicker updates due to a compact OS image size. Deployment time is reduced to approximately two minutes through automatic connection.
Usability and Design: Introduces support for audio conferences, document printing from guest operating systems, and automatic reconnection to remote desktops in case of interruptions. Redesigned connection panel with animated elements and customizable interface enhances user experience.
Kaspersky Thin Client 2.0 is tailored for organizations with extensive branch networks, including financial institutions, healthcare providers, educational and governmental bodies, transportation, industrial enterprises, smart city infrastructure, and the industrial automation sector.