President Sheikh Mohamed and French leader Emmanuel Macron have witnessed the signing of two major energy agreements in Paris.
The first is a comprehensive strategic energy partnership between the UAE and France, and the second is a strategic partnership agreement between Adnoc and TotalEnergies.
The CSEP focuses on enhancing energy security, affordability and decarbonisation, and progressive climate action before Cop28, which is set to take place in the UAE in 2023, state news agency Wam reported.
The landmark partnership builds on the strong, close and long-standing relations between both countries and leverages the UAE’s position as a responsible and reliable supplier of energy.
The UAE holds the sixth-largest crude oil reserves in the world and is committed to enabling global energy security.
Through a balanced and pragmatic approach to the energy transition, the UAE is expanding its crude oil production capacity to five million barrels per day, while increasing its global renewable energy capacity from 23 gigawatts to more than 100GW by 2030.
The Emirates is also investing more than $50 billion in clean energy projects in six continents, including in 27 climate vulnerable island nations, through Masdar, the Abu Dhabi Future Energy Company, and other UAE platforms.
The agreement was signed by Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, managing director and group chief executive of Adnoc, and chairman of Masdar; Bruno Le Maire, French Minister of Economy, Finance, and Industrial and Digital Sovereignty; and Agnes Pannier-Runacher, French Minister of Energy Transition.
The UAE is represented by the Ministry of Industry and Advanced Technology and the Abu Dhabi National Oil Company, while France is represented by the Ministry of Economy, Finance, and Industrial and Digital Sovereignty, and the Ministry of Ecological Transition.
"The UAE, under the wise leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, continues to consolidate its position as a reliable energy provider and key contributor to global energy security while advancing progressive climate action," said Dr Al Jaber, who is also the UAE climate change envoy.
"France is a close, long-standing strategic partner of the UAE, and this Comprehensive Strategic Energy Partnership provides a robust platform for us to work together to better deliver secure, affordable and sustainable energy required to drive economic growth and prosperity for our countries and the world.
"The landmark agreement deepens the cooperation between our countries across the energy value chain and unlocks technology and energy solutions that are good for the climate and the economy.
"In line with the vision of the UAE’s wise leadership, we will continue to build bridges of partnership across conventional and new energies, as well as capitalise on the economic opportunities of the energy transition, strengthen industrial co-operation and drive sustainable growth."
The UAE is adopting a low-carbon pathway to a high-growth destination and is aiming to accelerate progress on this journey as host of Cop28.
The country was the first in the region to sign and ratify the Paris Agreement, the first to commit to an economy-wide reduction in emissions, and the first to announce a Net Zero by 2050 Strategic Initiative, which it is leveraging as a catalyst for low carbon growth, new technologies, new industries, new skills and new jobs.
Watch: Macron hosts state dinner for President Sheikh Mohamed bin Zayed
The specs: 2018 Jaguar E-Pace First Edition
Price, base / as tested: Dh186,480 / Dh252,735
Engine: 2.0-litre four-cylinder
Power: 246hp @ 5,500rpm
Torque: 365Nm @ 1,200rpm
Transmission: Nine-speed automatic
Fuel consumption, combined: 7.7L / 100km
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
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Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Fixtures
Wednesday January 8 –Oman v Namibia
Thursday January 9 – Oman v UAE
Saturday January 11 – UAE v Namibia
Sunday January 12 – Oman v Namibia
The%20specs
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UAE currency: the story behind the money in your pockets
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
FROM%20THE%20ASHES
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
Cricket World Cup League 2
UAE results
Lost to Oman by eight runs
Beat Namibia by three wickets
Lost to Oman by 12 runs
Beat Namibia by 43 runs
UAE fixtures
Free admission. All fixtures broadcast live on icc.tv
Tuesday March 15, v PNG at Sharjah Cricket Stadium
Friday March 18, v Nepal at Dubai International Stadium
Saturday March 19, v PNG at Dubai International Stadium
Monday March 21, v Nepal at Dubai International Stadium
Company%20Profile
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
'Operation Mincemeat'
Director: John Madden
Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton
Rating: 4/5
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