The President, Sheikh Khalifa, said yesterday that the UAE can become an “international leader” in creating a green economy.
The comments were made in celebration of the country’s 17th National Environment Day, which takes place on Tuesday.
The topic for this year’s event, Green Economy: Innovation and Sustainability, also gained its organisers praise from Sheikh Khalifa, state news agency Wam said.
In the address made on his behalf, Sheikh Khalifa said the aim of the event was to make the UAE a world leader in energy efficiency and environmental safety.
“Green Economy is a key component of the State’s strategic thinking, which is clearly stated in the UAE Vision 2021,” said the statement. Country-wide initiatives begun as far back as the beginning of 2012, “when the UAE launched a national long-term initiative to make our country one of the international leaders in the green economy and a centre for export and re-export of green economy products and technologies”, Sheikh Khalifa said. During the address the country was called upon to promote a green economy.
“There is a need for public awareness, along with government effort, to promote production and deployment of renewable energy.”
This can be carried out by encouraging “investment in green economy” as well as facilitating the “production, import, export and re-export of green products and technologies”.
Other ways include promoting the use of environmentally-friendly modes of transport, helping reduce carbon dioxide emissions, the promotion of organic farming, preservation of biodiversity and creating an ecological balance.
The UAE is on track to complete its goals in this area, said Dr Rashid bin Fahad, Minister of Environment and Water.
“The Day is an important, national event in which we recall the remarkable achievements of the late founding father, Sheikh Zayed bin Sultan Al Nahyan, whose far-sighted vision, firm commitment and relentless efforts towards the sustainability of natural resources had earned the UAE a prominent place regionally and internationally.
“Adoption of the green economy is yet another important step towards the UAE Vision 2021.”
newsdesk@thenational.ae
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Virtual banks explained
What is a virtual bank?
The Hong Kong Monetary Authority defines it as a bank that delivers services through the internet or other electronic channels instead of physical branches. That means not only facilitating payments but accepting deposits and making loans, just like traditional ones. Other terms used interchangeably include digital or digital-only banks or neobanks. By contrast, so-called digital wallets or e-wallets such as Apple Pay, PayPal or Google Pay usually serve as intermediaries between a consumer’s traditional account or credit card and a merchant, usually via a smartphone or computer.
What’s the draw in Asia?
Hundreds of millions of people under-served by traditional institutions, for one thing. In China, India and elsewhere, digital wallets such as Alipay, WeChat Pay and Paytm have already become ubiquitous, offering millions of people an easy way to store and spend their money via mobile phone. Indonesia, Vietnam and the Philippines are also among the world’s biggest under-banked countries; together they have almost half a billion people.
Is Hong Kong short of banks?
No, but the city is among the most cash-reliant major economies, leaving room for newcomers to disrupt the entrenched industry. Ant Financial, an Alibaba Group Holding affiliate that runs Alipay and MYBank, and Tencent Holdings, the company behind WeBank and WeChat Pay, are among the owners of the eight ventures licensed to create virtual banks in Hong Kong, with operations expected to start as early as the end of the year.
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Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Info
What: 11th edition of the Mubadala World Tennis Championship
When: December 27-29, 2018
Confirmed: men: Novak Djokovic, Rafael Nadal, Kevin Anderson, Dominic Thiem, Hyeon Chung, Karen Khachanov; women: Venus Williams
Tickets: www.ticketmaster.ae, Virgin megastores or call 800 86 823
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Zayed Sustainability Prize
Bio
Born in Dibba, Sharjah in 1972.
He is the eldest among 11 brothers and sisters.
He was educated in Sharjah schools and is a graduate of UAE University in Al Ain.
He has written poetry for 30 years and has had work published in local newspapers.
He likes all kinds of adventure movies that relate to his work.
His dream is a safe and preserved environment for all humankind.
His favourite book is The Quran, and 'Maze of Innovation and Creativity', written by his brother.
25-MAN SQUAD
Goalkeepers: Francis Uzoho, Ikechukwu Ezenwa, Daniel Akpeyi
Defenders: Olaoluwa Aina, Abdullahi Shehu, Chidozie Awaziem, William Ekong, Leon Balogun, Kenneth Omeruo, Jamilu Collins, Semi Ajayi
Midfielders: John Obi Mikel, Wilfred Ndidi, Oghenekaro Etebo, John Ogu
Forwards: Ahmed Musa, Victor Osimhen, Moses Simon, Henry Onyekuru, Odion Ighalo, Alexander Iwobi, Samuel Kalu, Paul Onuachu, Kelechi Iheanacho, Samuel Chukwueze
On Standby: Theophilus Afelokhai, Bryan Idowu, Ikouwem Utin, Mikel Agu, Junior Ajayi, Valentine Ozornwafor
