Egyptian Foreign Minister Sameh Shoukry called his overall goal “implementation" as he prepares to preside over Cop27, which will be held in Sharm El Sheikh in November. Reuters
Egyptian Foreign Minister Sameh Shoukry called his overall goal “implementation" as he prepares to preside over Cop27, which will be held in Sharm El Sheikh in November. Reuters
Egyptian Foreign Minister Sameh Shoukry called his overall goal “implementation" as he prepares to preside over Cop27, which will be held in Sharm El Sheikh in November. Reuters
Egyptian Foreign Minister Sameh Shoukry called his overall goal “implementation" as he prepares to preside over Cop27, which will be held in Sharm El Sheikh in November. Reuters

Cop27 host Egypt vows to allow climate protests and push pledges


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Egypt will push countries to fulfil their climate pledges and allow protests when it hosts the next UN summit on climate change, Cop27, the incoming president of the event has said.

Egyptian Foreign Minister Sameh Shoukry called his overall goal “implementation" as he prepares to preside over Cop27, which will be held in Sharm El Sheikh in November.

He is eager for countries to deliver on promises to reduce greenhouse-gas emissions sharply, facilitate “non-adversarial” talks on compensation to developing countries for global-warming impacts, and allow climate activists to protest.

Mr Shoukry said the last summit, held in Glasgow, Scotland, in 2021, finalised many commitments made during the Paris Agreement in 2015. The pledges aimed to reduce emissions to limit global warming to 1.5ºC (2.7F) since pre-industrial times.

“The commitments and the pledges now have to be implemented in all sectors of the climate change agenda, whether it’s in adaptation, mitigation or finance, loss and damage,” Mr Shoukry said in an interview on Monday with the Associated Press, at the World Economic Forum in Davos, Switzerland.

In recent years, many developing nations and activists have increased long-standing calls to compensate poor countries for devastation wrought by climate change. They say the devastation has been disproportionately caused by rich countries because of past emissions.

The call was rejected during last year’s summit. Many supporters of the idea, often called “loss and damage,” hope to make progress on it in November. Their arguments could receive a boost by the symbolic significance of this conference being held in Egypt, a developing nation in North Africa.

“We hope that the discussion (on loss and damage) is comprehensive, but it is non-adversarial,” Mr Shoukry said. He added that there should be a recognition among all countries “that we are all in the same boat and for us to succeed, we all have to succeed.”

Mr Shoukry said protests would be allowed during the conference.

Egyptian authorities crack down on demonstrations not sanctioned by the government and retain the right to cancel or postpone any protests. This leads activists to wonder what, if any, demonstrations would be able to happen, a common occurrence at previous Cop events.

“We are developing a facility adjacent to the conference centre that will provide them the full opportunity of participation, of activism, of demonstration, of voicing that opinion,” Mr Shoukry said. “And we will also provide them access, as is traditionally done on one day of the negotiations, to the negotiating hold itself.”

Protests at global UN climate conferences often fill the streets with floats and banners and persist for days. The protests, as well as booths and press conferences outside the official venues, comprise a conference of their own — although they are not where critical language on carbon commitments is hammered out.

Mr Shoukry said during meetings about climate pledges in Denmark earlier this month that he had invited protesters who were outside to speak with him. He called the meeting “productive” and that Egypt’s climate goals lined up with those of many protesters.

“We recognise their impact, their determination, their commitment to keep us all honest as governmental representatives and parties that we should not be delinquent, and rise to the occasion and deal with this very important issue,” he said.

Before hosting the conference, Egypt has been racing to launch many agreements around renewable energies. In March, Egypt and Norway signed an agreement for several projects around green hydrogen and building green infrastructure projects in African countries.

Egypt and clean energy company Scatec also signed a $5 billion deal to establish a plant in the Suez Canal area for producing green ammonia from green hydrogen. Such deals come on the heels of years of steady investment in wind and solar technologies.

Mr Shoukry said Egypt was relying as much as possible on renewable energy in the building of several new cities, including a new administrative capital east of Cairo. Critics have called it a “vanity project,” but the government has said it is necessary to absorb Cairo’s booming population, expected to double to 40 million by 2050.

Mr Shoukry said a rapid shift to renewable energies presented enormous opportunities for investors, a common argument of proponents.

When asked whether fossil fuel companies could or should be part of the transition to renewable energies, an argument made by oil and gas companies, including many at the Davos conference, Mr Shoukry disagreed.

“I can’t say that fossil fuels are part of the solution. Fossil fuels have been the problem,” he said. “We might see in gas a transitional source of energy with certainly fewer emissions. But I think we have to really move quickly to the net-zero goal and we have to apply ourselves more effectively in new technologies, in renewable energy.”

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Director: Jon M Chu

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THE LOWDOWN

Romeo Akbar Walter

Rating: 2/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Robby Grewal
Cast: John Abraham, Mouni Roy, Jackie Shroff and Sikandar Kher 

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Tips on buying property during a pandemic

Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.

While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.

While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar. 

Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.

Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.

Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities. 

Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong. 

Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Results

57kg quarter-finals

Zakaria Eljamari (UAE) beat Hamed Al Matari (YEM) by points 3-0.

60kg quarter-finals

Ibrahim Bilal (UAE) beat Hyan Aljmyah (SYR) RSC round 2.

63.5kg quarter-finals

Nouredine Samir (UAE) beat Shamlan A Othman (KUW) by points 3-0.

67kg quarter-finals

Mohammed Mardi (UAE) beat Ahmad Ondash (LBN) by points 2-1.

71kg quarter-finals

Ahmad Bahman (UAE) defeated Lalthasanga Lelhchhun (IND) by points 3-0.

Amine El Moatassime (UAE) beat Seyed Kaveh Safakhaneh (IRI) by points 3-0.

81kg quarter-finals

Ilyass Habibali (UAE) beat Ahmad Hilal (PLE) by points 3-0

THE TWIN BIO

Their favourite city: Dubai

Their favourite food: Khaleeji

Their favourite past-time : walking on the beach

Their favorite quote: ‘we rise by lifting others’ by Robert Ingersoll

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2. Lewis Hamilton (Mercedes-GP) 151
3. Valtteri Bottas (Mercedes-GP) 136
4. Daniel Ricciardo (Red Bull Racing) 107
5. Kimi Raikkonen (Ferrari) 83
6. Sergio Perez (Force India) 50
7. Max Verstappen (Red Bull Racing) 45
8. Esteban Ocon (Force India) 39
9. Carlos Sainz (Torro Rosso) 29
10. Felipe Massa (Williams) 22

PAKISTAN v SRI LANKA

Twenty20 International series
Thu Oct 26, 1st T20I, Abu Dhabi
Fri Oct 27, 2nd T20I, Abu Dhabi
Sun Oct 29, 3rd T20I, Lahore

Tickets are available at www.q-tickets.com

UAE currency: the story behind the money in your pockets
Moon Music

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Specs

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MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

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Director: Kushan Nandy

Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami

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China

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UAE

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Japan

5

Norway

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Canada

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Singapore

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Australia

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Saudi Arabia

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South Korea

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Expert input

If you had all the money in the world, what’s the one sneaker you would buy or create?

“There are a few shoes that have ‘grail’ status for me. But the one I have always wanted is the Nike x Patta x Parra Air Max 1 - Cherrywood. To get a pair in my size brand new is would cost me between Dh8,000 and Dh 10,000.” Jack Brett

“If I had all the money, I would approach Nike and ask them to do my own Air Force 1, that’s one of my dreams.” Yaseen Benchouche

“There’s nothing out there yet that I’d pay an insane amount for, but I’d love to create my own shoe with Tinker Hatfield and Jordan.” Joshua Cox

“I think I’d buy a defunct footwear brand; I’d like the challenge of reinterpreting a brand’s history and changing options.” Kris Balerite

 “I’d stir up a creative collaboration with designers Martin Margiela of the mixed patchwork sneakers, and Yohji Yamamoto.” Hussain Moloobhoy

“If I had all the money in the world, I’d live somewhere where I’d never have to wear shoes again.” Raj Malhotra

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Updated: May 24, 2022, 1:31 PM