China’s representative to the United Nations confirms his country’s support for the UAE in hosting the COP28 conference.

Published

3 months ago

June 16, 2023

China’s representative to the United Nations confirms his country’s support for the UAE in hosting the COP28 conference.

Ambassador Zhang Jun, China’s Permanent Representative to the United Nations, confirmed his country’s support for the UAE in hosting the COP28 Conference of Parties at Dubai Expo City later this year. It plays an important role in combating climate change.

During the open session of the UN Security Council, the Permanent Representative of China to the United Nations, the meeting of the COP28 Conference of Parties, led by Dr. Sultan Ahmed Al-Jaber, Minister of Industry and Advanced Technology and the appointment of the President COP28 Conference, will achieve important and positive results.

The UN Security Council should integrate its mandate, current agenda, resources and mechanisms, take into account the specific circumstances and priorities of each country, analyze the importance of climate for security, and adopt a focused approach. Addressing challenges, identifying root causes of security risks and proposing effective solutions.

He said inadequate financing is a major obstacle to managing global climate action, adding that the UN is committed to implementing climate finance commitments. Agencies should establish a monitoring mechanism and encourage developed countries to make commitments.

Pointing out that green protectionism and illegal sanctions imposed by one side have become obstacles to the development and stability of developing countries, he pointed out the need for the Security Council to focus on climate and other security risks. Take targeted actions to support fairness and justice.

He emphasized his country’s insistence on the Chinese path of modernization characterized by harmonious coexistence between man and nature.

He said China will work with all parties to promote a fair and equitable system of global environmental governance in order to achieve cooperation for the common good of all.

Bill Dittman

“Freelance alcohol fan. Coffee maven. Musicaholic. Food junkie. Extreme web expert. Communicator.”

Forex Trading and Global Economics: The Impact of Economic Factors

Published

6 hours ago

September 25, 2023

Stuart Wagner

The forex market is a global marketplace, with traders completing trillions of trades daily. It is also a liquid and volatile market that is highly sensitive to economic factors on a local and global scale. These factors affect market and investor sentiment, current values, and trade decisions, ultimately driving prices up or down.

The Relationship Between Forex Trading and Economic Factors

Forex trading entails speculating on a currency’s price to profit from its sale. The forex market is influenced by several economic factors that determine currency values and the prices traders deem fair at a particular time. If you are interested in forex trading, you should understand that there are numerous indicators, and it is impossible to follow them all. Some are also more important and have a bigger impact than others.

The Gross Domestic Product (GDP)

GDP shows the value of all services and finished products produced within a country in a specified period. It is one of the best measures of the health of an economy. GDP does not move the market much because almost everything in it is known months in advance.

However, it can move the market in two ways. One, the GDP numbers might differ from expectations, leading investors and traders to revise their positions and thinking. As this happens, market activity, trade volumes, and volatility increase, opening up opportunities for keen investors.

Second, GDP can help investors know if a country is in recession, technically defined as a GDP contraction in two consecutive quarters. It, therefore, becomes a crucial macroeconomic factor that helps interested parties better understand a market and the forex opportunities therein.

The Unemployment Rate

This is the percentage of a country’s working-age population looking for work. Unemployment damages consumer sentiment and spending and can significantly affect a country’s economic health.

Unemployment data released by the government gives traders an insight into a metric that the government follows keenly. Any deviation from established trends or projections can impact the forex market.

For example, a higher-than-expected unemployment rate, which indicates a weakening of the labor market, can mean a bearish run of a currency. Any currency pairs that include it could benefit traders if they position themselves well.

The Direction of International Trade

A balance of trade tells investors and traders the demand for a country’s products. Countries with products in high demand will see currency value appreciations. The reason is that buyers must convert their currency to the country’s currency, increasing demand for the latter. This puts pressure on it, and its price appreciates.

The reverse is true for countries that are net importers of international products.

Inflation

Although a significant indicator, it might have unintended consequences on currency prices. Many traders assume that high inflation rates cause the value of a currency to fall. The reverse can happen if a central bank raises its rates to slow inflation down.

Currency values hinge on the health of their underlying economies whose health is determined and understood by looking at the most important macroeconomic indicators. Traders should keep an eye on them to understand how the global economies are doing so they can make better investment decisions.

Stuart Wagner

“Professional coffee fan. Total beer nerd. Hardcore reader. Alcohol fanatic. Evil twitter buff. Friendly tv scholar.”

Emirates News Agency – WAM Until now

Published

2 days ago

September 24, 2023

Bill Dittman

Sunday, September 24, 2023 – 1:01 AM

ABU DHABI, 23 September / WAM / The following are the headlines of the important news broadcast by WAM so far:
The President and his two representatives congratulated the Custodian of the Two Holy Mosques on the Kingdom’s 93rd National Day.

– The Head of State and two of his deputies offer their condolences to the President of Italy on the death of former Italian President Giorgio Napolitano.

– The Ruler of Sharjah congratulated the Custodian of the Two Holy Mosques on Sharjah’s 93rd National Day.

– The Ruler of Ajman congratulates the Custodian of the Two Holy Mosques on the Kingdom’s 93rd National Day.
– The Ruler of Fujairah congratulates the Custodian of the Two Holy Mosques on the Kingdom’s 93rd National Day.

– The Ruler of Umm Al Quwain congratulates the Custodian of the Two Holy Mosques on the Kingdom’s 93rd National Day.
– The Ruler of Ras Al Khaimah congratulates the Custodian of the Two Holy Mosques on the Kingdom’s 93rd National Day.

– Sultan bin Ahmed Al Qasimi Sharjah signed a cooperation agreement to implement the SAT-2 satellite project.

– Sheikha Fatima, wife of the Custodian of the Two Holy Mosques and wife of the Saudi Crown Prince, congratulated the Kingdom on its 93rd National Day.
– Abdullah Bin Saeed met several Foreign Ministers in New York.
– Abdullah bin Zayed and the State Committee participate in meetings and meetings within the framework of building bridges of cooperation and strengthening multilateral work within the high-level week of the 78th session of the General Assembly.
– Abdullah bin Zayed and UAE representatives continue their meetings to promote sustainable partnerships on the fourth day of the high-level week of the 78th session of the General Assembly.

Assem Al-Gholi

Bill Dittman

“Freelance alcohol fan. Coffee maven. Musicaholic. Food junkie. Extreme web expert. Communicator.”

Emirates News Agency – Economy Minister: We are working on a strategy to transform the food and agriculture sector into a global force

Published

3 days ago

September 22, 2023

Bill Dittman

Emirates News Agency – Economy Minister: We are working on a strategy to transform the food and agriculture sector into a global force

Friday, September 22, 2023 – 5:22 p.m

DUBAI, September 22 / WAM / The Minister of Economy, His Highness Abdullah bin Duq Al Marri, confirmed the country’s commitment to develop the food and agriculture sector to generate $10 billion in GDP and 20,000 jobs. The next five years.

He laid out seven key pillars of strategic direction to achieve this.
Key strategies include localizing innovation, strengthening agriculture and food supply chains, and providing farmers with the support and resources they need to achieve global leadership in agricultural innovation and sustainability in the food sector.
Addressing the fifth edition of the Future of Food Industries Forum 2023, he lauded the initiatives of the food and beverage industry in the areas of knowledge, skill development and digital infrastructure. How food is produced, distributed and consumed regionally and globally.
He lauded the potential of the Emirates Food Platform, launched at the forum, to enable collaboration between the public and private sectors in the field of food safety and to enhance the food and beverage ecosystem through digital infrastructure to drive sector growth and attract investments and business opportunities.
According to a statement from the organizers of the forum, the two-day (September 20-21) events in Dubai highlight the growing role and future of the food industry in the economy of the UAE. This industry, and current efforts to advance economic growth and industrial development in the UAE, emphasized that this is a promising and important matter for the future, as the UAE is today considered one of the most important centers for global food logistics services. , and it is the most accessible port for shipping containers between source and destination facilitating the food supply and consumption process.
The food sector is considered an important aspect of comprehensive trade, as trade in food products in the UAE is expected to reach 130 billion dirhams in 2022 compared to 105 billion dirhams in 2021, registering a year-on-year growth of 24% and food trade at 5.7%. Trade is non-oil.
His Highness Abdullah Bin Duq Al Marri said: “With a growing population and a priority for food security, the UAE is doing well in this regard as it ranks first in the Global Food Security Index for 2022. Other peers in the Middle East and North Africa region, but this volatile The challenges facing food in the times are real and present, and fortunately, the resilience and adaptability of our food industry helps us meet this challenge, while emphasizing sustainable practices that have maintained food safety in our country for centuries.”
He added: “I stand before you today to share with you our vision to take our beloved country to new heights and ensure food security in the future. Today, we are working on a strategy to transform the food and agriculture sector into a global force, sustainable innovation, self-sufficiency and Based on fundamental pillars that reflect our commitment to food production.
In his address, he pointed out that the first pillar is to localize the next generation of agricultural enterprises, develop local talent, identify and support next-generation solutions, and develop them into global leaders in promoting innovation. Second, making the UAE a global regulatory power ensures that our products maintain high standards and gain international recognition. Third, strengthening the UAE leadership’s commitment to strengthen the entire food value chain by prioritizing local production and reducing dependence on imports. Fourth, ensuring adequate funding for workers in the food and beverage sector.
He said: “Access to finance is key to the growth and development of industries, and our strategy focuses on securing funding and support, and this leads us to our fifth pillar of driving innovation through world-class research and development. It is the cornerstone of progress. We will provide global research and development packages. “The state of promoting change.
Also, the sixth pillar helps diversify the workforce and access new markets by creating pathways for all agricultural workers. Finally; The strategy aims to create the next generation of farmers who will be the future of agriculture and agricultural technology. Al Marri expressed his commitment to equipping farmers with the knowledge, technology and resources they need through training programmes, modernization initiatives and support systems to ensure the agricultural workforce is ready to face the challenges and opportunities ahead.
For his part, Saleh Lootah, Chairman of the UAE Food and Beverage Producers and Manufacturers Group, affiliated with the Dubai Chamber of Commerce, said: “The remarkable success of the 5th Future Food Industry Forum is due to the joint participation of all stakeholders in the food ecosystem, whose active engagement has been enhanced by the gradual shift to digital platforms, It has significantly improved engagement, communication and collaboration.
The forum was organized by the UAE Food and Beverage Business Council under the auspices of the UAE Ministry of Economy and the Dubai Chamber of Commerce, with the support of the Department of Economy and Tourism and the Food Department in Dubai. Technology Valley, Dubai includes the “Free from Food” exhibition.