As COP26 negotiations conclude, call for urgent climate action in Iraq is louder than ever

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The United Nations in Iraq has welcomed commitments made at COP26 in Glasgow but stresses the need for urgent action on these promises to limit climate change’s adverse impacts on human rights and sustainable development in Iraq.

Commitments made at the UN Framework Convention on Climate Change (UNFCC) conference – attended by a Government of Iraq high-level delegation from representatives of the ministries of Environment, Finance, Foreign Affairs, Higher Education, Industry and Oil, as well we representatives from the private sector – include:

• The announcement of an additional $US356 million to the Adaptation fund which will increase the resilience of vulnerable communities on the frontline of climate change. This stronger commitment paves the way for greater resources to avert, minimise and address loss and damage in Iraq.

• The Breakthrough Agenda, an international strategy to deliver clean and affordable technology everywhere by 2030, signed by more than 40 world leaders. This commitment is critical to helping Iraq’s gradual energy transition and accelerating low carbon solutions.

• The Global Forest Finance Pledge, a commitment to end deforestation by 2030 will help Iraq scale up its forest conservation efforts, facilitate trade to promote sustainable development and increase rural employment opportunities.

• A commitment to improving transparency and environmental integrity through the implementation of Article 6 of the Paris Agreement on international emissions trading. Iraq fully supports an independent mechanism to redress potential harms and support the creation of new markets for carbon unit trading by both public and private sectors.

Additionally, the Glasgow Climate Pact cites several areas of cooperation relevant to Iraq, including the need to boost funding for diverse climate technologies and a stronger commitment to capacity building. “Iraq is a country vulnerable to the negative impacts of climate change – one of the most vulnerable in the region and indeed the world. We are grateful to the United Nations Development Programme in Iraq for its ongoing support to climate action in Iraq, and for supporting the delegation to this important conference,” says Iraq’s Acting Minister for Environment, Dr Jassem Al-Falahi.

The United Nations Secretary-General’s Deputy Special Representative for Iraq and Resident Coordinator Irena Vojáčková-Sollorano emphasises the UN in Iraq’s commitment to urgent action on climate change. “Climate Change in Iraq is a severe threat to fundamental human rights and creates barriers to sustainable development. Across the UN system in Iraq, we are working on the key components of climate action – from awareness-raising and adapting to climate change, to mitigating its risks. With COP26 now done and dusted, we urge world leaders to make good on their promises, many which are critical to supporting a cleaner, safer and greener Iraq,” she says.

Resident Representative of UNDP Iraq, Zena Ali Ahmad acknowledged UNDP’s role in supporting the COP26 delegation and Iraq’s formal submission of its Nationally Determined Contribution (NDC) – the country’s central policy for driving climate action. “UNDP Iraq was proud to support the Government of Iraq’s formal submission of its NDCs, as well assisting the delegation to COP26 to ensure Iraq’s needs were firmly placed on the global agenda. Our support to the country’s fight against climate change does not end with COP26, and we look forward to continuing our work with the Government, UN partners, the international community and others to implement Iraq’s NDCs and turn the conference outcomes into tangible actions,” she says.

Source:https://reliefweb.int/report/iraq/cop26-negotiations-conclude-call-urgent-climate-action-iraq-louder-ever-enar

Qatar manufacturing sector remains buoyant in March

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A robust month-on-month double-digit jump – particularly in printing as well as in the production of food, beverages and cement – led Qatar’s manufacturing sector to expand in March 2021, according to the Planning and Statistics Authority (PSA).
The country’s Industrial Production Index (IPI) saw a 1.4% monthly increase this March despite the reintroduction of certain Covid-19 related restrictions. However, on a yearly basis, the index was down 0.1%.
“The month-on-month increase in industrial production is rather reflective of the rebound in the non-oil manufacturing activities, as the vaccination drive is on the full swing,” said a market analyst with a leading investment house.
The PSA introduced IPI, a short-term quantitative index that measures the changes in the volume of production of a selected basket of industrial products over a given period with respect to a base period 2013.
The mining and quarrying index, which has a relative weight of 83.6%, saw a 0.5% increase month-on-month owing to a 0.5% expansion in the extraction of crude petroleum and natural gas and 3.6% in other mining and quarrying sectors.
On a yearly basis, the index showed 0.3% jump owing to a 0.3% increase in the extraction of crude petroleum and natural gas and 12.5% in other mining and quarrying sectors.
The manufacturing index, with a relative weight of 15.2%, grew 4.5% on a monthly basis in March 2021 on a 23.8% surge in printing and reproduction of recorded media, 13.4% in the production of food products, 10.9% in beverages, 10.3% in cement and other non-metallic mineral products, 8.2% in chemicals and chemical products, 2.4% in basic metals and 0.7% in rubber and plastics products; even as there was a 11.6% decline in the production of refined petroleum products.
On a yearly basis, the manufacturing index shrank 1.4% in March this year owing to a 66.2% fall in printing and reproduction of recorded media, 23.9% in the production of refined petroleum products, 11.9% in beverages, 11.5% in food products and 0.9% in chemicals and chemical products.
However, there was a 28.1% surge in the production of cement and other non-metallic mineral products, 24.4% in basic metals and 12.5% in rubber and plastics products.
Electricity, which has 0.7% weight in the IPI basket, saw its index soar 41.4% and 9.1% on a monthly and yearly basis respectively this March.
In the case of water, which has a 0.5% weight, there was a 9.9% increase month-on-month but registered a 21% shrinkage year-on-year in March 2021.

Source:https://www.gulf-times.com/story/692515/Qatar-manufacturing-sector-remains-buoyant-in-Marc

Newly awarded projects during Q3 total QR2.9bn: Ministry of Finance

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The outlay provided for various projects in the third quarter are: infrastructure and roads (QR2.62bn), sewer and drainage (QR166.9mn), parks and green areas (QR71.7mn) and miscellaneous (QR84.7mn).
According to the Ministry of Finance, the projects to be completed this year are Food Security Project, Doha Old Port and Lusail Light Rail Transit.
The work on most of FIFA World Cup Qatar 2022 Stadia has been completed, it said.
Total expenditure on major projects increased by 9.1% compared to previous quarter. The increase was anticipated and was mainly due to large installment payments to deliver various projects, the Ministry of Finance said.
According to the Planning and Statistics Authority (PSA), real GDP in Q2,2021 increased by 4% relative to Q2,2020. The non-hydrocarbon sector recorded growth of 6.2% while hydrocarbon growth stood at 0.7% in Q2-2021 compared to the same period last year.
Sectors severely hit by the pandemic in 2020 and the related Covid-19 restrictions are rebounding strongly. Hospitality, transport and storage, and wholesale and retail trade sectors were the highest performing sectors in Q2,2021.
Moreover, the manufacturing sector recorded strong y-o-y growth of 13.4% in Q2,2021 and is now back to pre-pandemic levels.
Real y-o-y growth of the hydrocarbon sector stood at 0.7% in Q2,2021 primarily driven by the completion of scheduled temporary maintenance during 2020, and the operation of the Barzan project.
Real GDP growth in the first half of 2021 was 0.8% compared to the same period in 2020, mostly driven by the nonhydrocarbon sector (+1.9%).
The growth trend is expected to continue in the second half of 2021 due to the recent easing of Covid-19 restrictions and the scheduled sporting and entertainment events. The 2.2% forecast for real GDP growth for 2021 remains unchanged, Ministry of Finance noted.

Source:https://www.gulf-times.com/story/704041/Newly-awarded-projects-during-Q3-total-QR2-9bn-Min#section_191

Saudi Arabia launches national infrastructure fund with BlackRock

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Saudi Arabia, advised by the world’s largest fund manager BlackRock, has launched a national infrastructure fund to support up to 200 billion riyals ($53.32 billion) in projects over the next decade, state news agency SPA said on Monday.

The National Infrastructure Fund will invest in areas such as water, transportation, energy, and health, contributing to Saudi Arabia’s plans to transform the economy and make it less reliant on oil revenue.

The fund is one of the development funds of the National Development Fund (NDF), a body created in 2017 with the aim of supervising and linking together several economic development funds previously spread between various ministries and agencies.

Source:
https://economictimes.indiatimes.com/news/international/saudi-arabia/saudi-arabia-launches-national-infrastructure-fund-with-blackrock/articleshow/87254112.cms

Zipaworld partners with ASYAD Group to expand business in Oman, GCC region

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Online logistics marketplace Zipaworld has partnered with the Middle East-based ASYAD Group for expanding its business in Oman and the GCC region. Under the tie-up, the two companies will launch a pilot project with ASYAD Express for express courier services and door-to-door shipments in India and the GCC region.

The Riyadh-headquartered Gulf Cooperation Council (GCC) is a trade block of six Gulf countries comprising Saudi Arabia, United Arab Emirates, Kuwait, Bahrain, Qatar and Oman.

“This strategic association will boost business across the trade lane between India and Oman as well as other GCC countries besides helping the two partners reach out to the world beyond. Further, it will also open up more economical and cost-effective gateway into the Gulf, Middle East and African ports,” said Ambrish Kumar, Founder, Zipaworld.

Established in 2016, the Oman-based integrated logistics NSE 4.27 % services provider ASYAD Group brings together services, solutions, and companiesunder one entity. The group comprises three deep ports and two free zones supported by Oman’s five airports, a new rail network as well as road network.

ASYAD Ports and Terminals comprises Ports of Sohar, Salalah and Duqm besides Khazaen economy city and ASYAD Shipping & Drydock. The logistics wing of the Group comprises ASYAD Express, Oman Post and Container Line Services.

“We are leading the express mail segment, continually working on enhancing our services to meet the needs of our ever-growing customer base. As e-commerce continues to gain momentum, our partnership with Zipaworld represents one of a number of collaborations that are helping us to expand into new markets beyond Oman,” Acting Chief Executive Officer of Oman Post & ASYAD Express, Nasser al Sharji, said.

With the group deploying the latest technology for encouraging virtual platforms and easing the trade barriers, its association with Zipaworld will enhance and accelerate seamless trade movement between India and Oman, and between India and other GCC countries, said the release.

The express courier facilitation from India to the GCC countries will be much more economical and transparent as compared to the present market scenario, it said, adding that Zipaworld can be accessed by anyone from any part of India right at their convenience and without hassles to book their express consignments to the Middle East.

Source:https://economictimes.indiatimes.com/industry/transportation/shipping-/-transport/zipaworld-partners-with-asyad-group-to-expand-business-in-oman-gcc-region/articleshow/82569841.cms

Saudi Arabia considers developing industrial zone in Oman

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Saudi Arabia is considering developing an industrial zone in Oman and the two Gulf states have discussed the possibility in investment talks, the Saudi state news agency SPA reported.

Saudi and Omani officials met earlier in the month to discuss investment opportunities and discussions this week were around “prospects for cooperation and integration opportunities in the special economic zones in the kingdom and the sultanate,” SPA said on Wednesday.

Saudi Arabia is in the midst of an ambitious economic development plan – Vision 2030 – to wean the economy off oil, while Oman recently introduced a medium-term plan to rein in its debt that has grown at breakneck pace in recent years.

Source:https://economictimes.indiatimes.com/news/international/saudi-arabia/saudi-arabia-considers-developing-industrial-zone-in-oman/articleshow/83807209.cms

Saudi Arabia considers developing industrial zone in Oman

Saudi Arabia is considering developing an industrial zone in Oman and the two Gulf states have discussed the possibility in investment talks, the Saudi state news agency SPA reported.

Saudi and Omani officials met earlier in the month to discuss investment opportunities and discussions this week were around “prospects for cooperation and integration opportunities in the special economic zones in the kingdom and the sultanate,” SPA said on Wednesday.

Saudi Arabia is in the midst of an ambitious economic development plan – Vision 2030 – to wean the economy off oil, while Oman recently introduced a medium-term plan to rein in its debt that has grown at breakneck pace in recent years.

Boosting industrial exports: the key to Egypt’s Covid-19 recovery?

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With the effects of Covid-19 still being felt in Egypt, industrial exports are shaping up to be a key driver of the country’s economic recovery.

Highlighting the importance of outward shipments, on March 20 Nevin Gamea, the minister of trade and industry, told media that Egypt planned to increase its exports to $100bn over the long term, up from pre-pandemic levels of around $30bn, by shifting its focus towards more EU, African and Arab markets.

The strategy that will drive this growth involves boosting national industries and increasing exports from small enterprises. In addition, export logistics will be enhanced, for example through the automation of import and export procedures.

The programme also involves developing Upper Egypt and various border areas, as well as supporting projects in the Suez Canal Economic Zone.

President Abdel Fattah El Sisi has also recently underlined the need to increase industrial investment and export levels.

The president called for domestic industrialisation and the localisation of technology to be bolstered, for the gap between exports and imports to be closed, and for the use of foreign currency for imports to be reduced.

In addition, he ordered a comprehensive review and inventory of land that had been allocated to industrial activities but not developed within the mandated timeframe.

Flagship projects lead the way
Economic reforms have been under way in Egypt since November 2016, when the country received a $12bn loan from the IMF and the currency was floated.

The fund identified private sector-led growth as a key priority, and reforms have largely been aimed at improving the business environment to attract private investment.

“Measures should be taken, when possible, to reduce business costs and ease access to financing because the private sector needs to be the engine of Egypt’s economic growth,” President El Sisi told OBG last year.

A significant move came at the end of 2019, when the government and the Central Bank of Egypt (CBE) launched a $6.4bn initiative to boost domestic manufacturing by giving medium-sized factories access to subsidised loans at a declining 10% interest rate.

A central focus of this drive has been the development of industrial zones, the largest of which is the Suez Canal Economic Zone, where the integration of logistics and the clustering of manufacturing value chains have been shown to improve efficiency and lower costs.

Both public and private industrial zones are competing over the infrastructure they can provide and their ability to integrate the manufacturing and export processes.

However, some issues have been reported with regard to the capacity of publicly funded industrial zones to connect incoming enterprises to infrastructure networks, particularly with regard to exports.

A deal signed earlier this year between the General Authority for Land and Dry Ports and the European Bank for Reconstruction and Development is indicative of efforts to overcome logistical shortcomings.

The deal is worth €1m, which will go towards advisory services on the construction of a dry port and logistical centre in the 10th of Ramadan City, a city outside Cairo with a substantial industrial zone.

This is part of a comprehensive plan to establish a network of dry ports and logistical centres across the country.

In February it was announced that five consortia were interested in a tender to build the 10th of Ramadan City dry port, among them the Elsewedy Electric-DB Schenker consortium, another led by Dubai’s DP World and a third led by the China International Marine Containers Group. The tender is expected to be formally issued in the middle of this year.

On a related note, in January it was announced that Egypt had signed a €19bn deal with Siemens Mobility and local companies to build a 1000-km high-speed rail network.

Work was set to begin forthwith on the 460-km first section, which will connect El Alamein on the Mediterranean to Ain Sokhna on the Red Sea, while also passing through the as yet unnamed New Administrative Capital, which is currently under construction.

Meanwhile, a new electric train is set to come online at the end of this year, connecting 10th of Ramadan City to the New Administrative Capital and Cairo.

Such efforts should go a long way to spurring private sector investment in industry, and driving a concomitant rise in income from exports.

“Looking ahead, Egypt is in a favourable position to promote growth in industries where it has comparative advantages and can add value,” Mohamed Al Kammah, CEO of Elsewedy Industrial Development, told OBG.

“In order to best leverage growth in these industries, key stakeholders should invest in industrial infrastructure in the near term to ensure long-term capacity along the value chain.”

Source:https://oxfordbusinessgroup.com/news/boosting-industrial-exports-key-egypt%E2%80%99s-covid-19-recovery

Hochtief has sign a agreement JV with Bahrain Airport Company

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German construction group Hochtief AG has signed an agreement with Bahrain Airport Company (BAC) to set up a joint venture, which will provide facility management at Bahrain International Airport.

The new entity, Hochtief Facility Management Bahrain Airport, will be set up at a cost of euros 85 million ($115 million).

Hochtief AG said the contract marks a further internationalisation of its service business.

The agreement will run for six years, with an option to be extended for another five, the company said in a statement.

Hochtief Facility Management Bahrain Airport will initially employ around 170 people involved in the operation of all technical systems and the airport infrastructure.

At present Bahrain International Airport has a gross floor space of just under 70,000 sq m which houses various buildings such as the terminal, aircraft hangars, cargo halls, administrative buildings and a fire station. The Kingdom is set to spend $4.73 billion for upgrading the airport facilities.

The airport currently handles around eight million passengers per year, but with a new terminal due for completion by 2015, the passenger number will rocket to 15 million, the company said.

The new entity will provide technical and infrastructural services for all of these properties and the airport grounds in the coming years.

‘For example, the service provider will be taking responsibility for building management systems, passenger bridges and cleaning and will also deal with the sensitive infrastructure of the apron area and the runways,’ said a top official.

Hochtief Facility Management is contributing its lengthy experience in the area of airport management, including Athens Airport, the company added.

Source:https://newsonprojects.com/news/hochtief-has-sign-a-agreement-jv-with-bahrain-airport-company

GCC electricity grid plans to set up a transmission project

The GCC integrated electricity grid will be fully operational by later next year or early 2012 linking all the Gulf countries, the GCC Interconnection Authority (GCCIA).

The $1.2 billion project linking Bahrain, Qatar, Saudi Arabia and Kuwait, will make more than 1,200 megawatts of additional power available.

The GCCIA meeting was attended by representatives of all the six GCC (Gulf Cooperation Counci) states, who reviewed the progress made on the grid in the last nine months when its first phase was commissioned.

While the UAE would be linked in the first quarter of next year, Oman will follow a few months later.

The two grids will then be connected, possibly by the end of 2011 or early 2012.

Al-Mohaisen said extensive testing of the commissioned network had ensured it was in excellent condition.

While testing, 1,300mw were transmitted over 10 hours continuously and it passed all stringent measures.

Source:https://newsonprojects.com/news/gcc-electricity-grid-plans-to-set-up-a-transmission-project