The UAE on Thursday said urgent relief aid has been sent to 40,000 families affected by the deadly earthquake that struck Cebu Island in the Philippines.
The Philippines is still recovering from a strong earthquake with a magnitude of 6.9 on September 30 that left at least 74 people dead and displaced thousands in the central province.
Seismic activity has continued, with two powerful offshore earthquakes striking the same region in the southern Philippines only hours apart on Friday.
The humanitarian relief, distributed through the Emirates Aid Agency, was provided under the supervision of the UAE embassy in Manila in co-operation with authorities in the Philippines.
Earthquakes and volcanic eruptions are frequent because of the country's location on the Pacific Ring of Fire − an arc of seismic faults. It is also lashed by about 20 typhoons and severe storms each year.
Wider efforts
The UAE also allocated $10 million towards a fund to protect the Asia-Pacific region from natural disasters this week.
Announced under the directive of President Sheikh Mohamed through the UAE International Aid Agency, the funding will go to Emirates Nature-WWF to launch the "building community resilience to natural disasters" project.
The first phase will focus on the Philippines, Indonesia, Fiji and the Solomon Islands, with the goal of improving living conditions. Priorities are to restore protective natural systems, enhance sustainable sources of income and improve preparedness to reduce the effects of disasters, officials said.
Schemes will include maintaining mangroves and coral reefs, supporting farmers, fishermen and small businesses, and developing early warning systems.
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Hydrogen: Market potential
Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.
Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.
The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.
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ATP RANKINGS (NOVEMBER 4)
1. Rafael Nadal (ESP) 9,585 pts ( 1)
2. Novak Djokovic (SRB) 8,945 (-1)
3. Roger Federer (SUI) 6,190
4. Daniil Medvedev (RUS) 5,705
5. Dominic Thiem (AUT) 5,025
6. Stefanos Tsitsipas (GRE) 4,000 ( 1)
7. Alexander Zverev (GER) 2,945 (-1)
8. Matteo Berrettini (ITA) 2,670 ( 1)
9. Roberto Bautista (ESP) 2,540 ( 1)
10. Gaël Monfils (FRA) 2,530 ( 3)
11. David Goffin (BEL) 2,335 ( 3)
12. Fabio Fognini (ITA) 2,290
13. Kei Nishikori (JPN) 2,180 (-2)
14. Diego Schwartzman (ARG) 2,125 ( 1)
15. Denis Shapovalov (CAN) 2,050 ( 13)
16. Stan Wawrinka (SUI) 2,000
17. Karen Khachanov (RUS) 1,840 (-9)
18. Alex De Minaur (AUS) 1,775
19. John Isner (USA) 1,770 (-2)
20. Grigor Dimitrov (BUL) 1,747 ( 7)
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