Rich nations continue to shun climate funding commitments
Ranvir S. Nayar
April 30, 2021 07:06
US President Joe Biden during the virtual Leaders Summit on Climate, from the White House in Washington on April 22, 2021. (AP Photo/Evan Vucci)
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In the end, the much-hyped leaders’ climate summit, hosted by US President Joe Biden last week, ended pretty much the same way every multilateral climate meet has in the past decade or so: Claiming victory and a “renewed vigor” to save the planet from the man-made disaster that it is currently hurtling toward us.
It was certainly welcome to see the US, the world’s second-largest greenhouse gas emitter and by far the largest on a per capita basis, take this initiative after a four-year-long hubris under the Trump administration, which saw the country exit the Paris climate agreement. Biden did the right thing by promptly taking the US back into the agreement and then getting the leaders of the world
RIYADH: Abu Dhabi Ports Co. plans to sell more debt to support investment after selling its first bond of $1 billion on Wednesday, Bloomberg reported. The government-owned port operator in Abu Dhabi will look at a mix of loans, bonds and sukuk as well as potential cash injections from its owner to fund growth, CFO Martin Aarup said in an interview. The company is planning $4.2 billion in investment over the next five years and could spend more on acquisitions, he said. Demand for the bond, which was about 4.5 times oversubscribed, “reflects international confidence in the strength of our business and our strategy,” Abu Dhabi Ports Chairman Falah Mohamed Al Ahbabi said in a statement.
The rupee reflects the sentiment in stocks.
PTI reports: The Indian rupee opened on a flat note and edged lower by 5 paise to 74.12 against the US dollar in opening trade on Friday, amid a lacklustre trend in the domestic equity market.
At the interbank forex market, the domestic unit opened at 74.03 against the US dollar and inched lower to 74.12 against the greenback, registering a fall of 5 paise over its previous close.
On Thursday, the rupee had settled at 74.07 against the American currency.
The domestic unit also touched an early high of 74 per dollar in initial deals.
The rupee started on a flat to weaker note against the greenback, Reliance Securities said in a research note, adding that improved risk appetite in the markets could cap depreciation bias; however month-end dollar demand from importers could cap the appreciation bias. Meanwhile, the dollar index, which gauges the greenback s strength against a basket of six currencies, rose 0.02 per cent to 90.63.
An unorthodox rule for visitors to “Negus” an audio-visual installation at Dubai’s The Third Line in collaboration with festival operator Sole is that you have to have your phone locked away in a small pouch. The intention is to allow you to be completely immersed in a space where music meets art for 28 minutes without distractions. Lights off, headphones on.
The eight-track recording currently unavailable for download outside of the installation was created by Brooklyn-born hip-hop artist Yasiin Bey (previously known as Mos Def), known for his hard-hitting tracks on topical concerns, including police brutality and racism.
“Negus” is making its Gulf debut here, having formerly been in installed in Marrakech, Hong Kong, and New York.
Abdulaziz Al-Harbi is the newly appointed acting chief executive officer of Saudi Arabian Mining Co. (Ma’aden).
Ma’aden is one of the fastest-growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East.
According to the company, Al-Harbi has more than 30 years’ experience in project management, planning and operations.
Prior to his appointment as acting CEO, Al-Harbi served as executive vice president for shared services & security.
Before that, he served as president for Ma’aden Bauxite and Aluminum Co. (MBAC) and the Ma’aden Aluminum Co.(MAC), US, which he led from project phase until they became operational.