Day of the Mediterranean, voyage . . .

Day of the Mediterranean, voyage . . .

 


Day of the Mediterranean, voyage through senses unites people

UfM’s music and social media for 28 November celebration

 

 

18 November 2022

NAPLES – The Day of the Mediterranean, launched in 2020, will be held again on 28 November 2022. The day is a way to recognize the importance of Mediterranean culture and cooperation and to embrace the rich diversity present in the region. The Union for the Mediterranean (UfM) highlights these aspects while launching various events and initiatives focused on music which will take place across the region. Starting from Spain, with a concert of the Arabic Orchestra of Barcelona and of the singer Judit Neddermann, on 26 November. The concert is organized by the European Institute for the Mediterranean and by the UfM secretariat in collaboration with local authorities. While the Anna Lindh Foundation (ALF) is coordinating civil society organizations across 25 Euro-Mediterranean countries, with 36 different free musical shows at community level, which will take place simultaneously on 28 November.

The Day of the Mediterranean will also provide new drive to build a common identity in the region, from European countries to those of the MENA region. The UfM launched an on-line campaign called “The Mediterranean, a voyage through the senses”, inviting all citizens to think about their common origins and what unites us as a Mediterranean population by filming a short video, sharing a picture or publishing a post in which one of our sense is most stimulated by the idea of the Mediterranean. The Day will also provide the opportunity to present themes of public interest, mobilize political will and resources to face the region’s problems, by remembering the creation of the Barcelona Process on 28 November, 1995.

Therefore the Day of the Mediterranean is a precious reminder of this commitment, to continue to work on this process despite the challenges. Among the initiatives, the ALF secretariat is organizing a special celebration at its headquarters. Among these celebrations there will be a multicultural musical exhibition and the projection of the logo on the building of the von Gerber home, which is located on the seafront in Alexandria, Egypt. The Mediterranean Day was launched in 2020 by 42 Member States of the UfM who declared 28 November the yearly celebratory date.

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World’s largest floating city, in Saudi Arabia

World’s largest floating city, in Saudi Arabia

The Kingdom of Saudi Arabia is planning a World’s largest floating city at an estimated eight billion dollars expense.  This Giga yacht is a massive turtle-shaped Pangeos that will house 60,000 people and have beach clubs, villas, and even a shopping mall.

 

World’s largest floating city, worth $8bn, to come up in Saudi Arabia

Riyadh –   A giant turtle-shaped structure – running 550-m long and 610 m wide – being modelled in the shape of a floating city for ultra-high-net-worths, is set to come up in Saudi Arabia.

The Terayacht project Pangeos, which is estimated to cost around $8 billion, is being designed by Italian studio Lazzarini and is likely to located at the King Abdullah Economic City, some 2 km from King Abdullah port. Once the work kicks off, it will take approximately eight years for completion.
The project, which is double the size of the Roman Colosseum, would be capable of hosting up to 60,000 guests at its peak, said Pangeos the Terayacht on its website.
“At the moment, Pangeos is just a concept, but it’s starting to his way to become something more than a computer animation,” said its founder Pierpaolo Lazzarini.
“The Terayacht proposal takes its name from Pangea, the supercontinent that existed millions of years ago during the late Paleozoic and early Mesozoic eras,” explained Lazzarini.
“Guests can unwind by staying in one of the many hotels, exploring its plethora of shopping centres, parks, beach clubs, resorts, as well as ship and aircraft ports,” he stated.
According to Lazzarini, the Terayacht would have its very own shipyard built specifically for its creation, and would be launched out of Saudi Arabia.
“A Terayacht needs a Terashipyard. The conception of a similar-sized vessel, involves the realisation of a specific shipyard/dam infrastructure that floods to levitate the terayacht when it will be launched,” he stated.
The project scope includes dredging work of one square km of sea by building a circular dam. Once dried the terrain will possible to start preparing the basement area, he added.
According to him, the floating structure subdivides the spaces in different blocks and the impressive sizes of the Pangeos structure creates an unlimited possibility in terms of layout and facilities.
“The hull is subdivided in about 30,000 cells. This space provide an unsinkable floating solution for the basement, which is composed by cluster compartments and connected by corridors,” stated the Italian designer.
“With 30 metres of draft, the ship’s enormous hull is made up of nine different bows and subdivided into several blocks. The structure also boasts a giant gate aft that allows vessels to enter this floating metropolis,” he revealed.
It would be powered by nine high-temperature superconductor (HTS) engines, each fully electric motor capable of a mind-blowing 16,800hp and powered by various onboard energy sources,” he added.

Why satellite data is key to smarter, sustainable cities

Why satellite data is key to smarter, sustainable cities

Good Governance and its Role in Sustainable Development

Good Governance and its Role in Sustainable Development

In their understanding of good governance and its role in sustainable development, Gulf Business addresses this theme only within the business world of the MENA region, specifically within the Gulf area countries. Let us see what it is all about.

 

Insights: Understanding good governance and its role in sustainable development

By Dr Ashraf Gamal Eldin

Good corporate governance fosters fair competition, enables efficient utilisation of resources, increases employment opportunities, and develops domestic and regional capital markets.

 

Dr Ashraf

Dr Ashraf Gamal Eldin

The term ‘governance’ refers to all forms of regulations, including that of institutions, procedures, and practices used to decide on and regulate matters of public concern. In its most basic sense, governance is about providing direction and ensuring that an institution operates efficiently.

Good governance, however, adds a normative or evaluative attribute to this process. In simple terms, good governance refers to the institutional and political outcomes necessary to achieve developmental objectives. The concept has become increasingly important in recent years, emerging as one of the essential components for growth and sustainable development. The key measure of good governance is the extent to which it upholds human rights, including civil, cultural, economic, political, and social indicators. As a result, it is important to understand good governance and its significance in sustainable development.

Good governance reassures stakeholders that an organisation fulfills its obligations to all of its stakeholders, it treats everyone with respect and dignity, by being transparent about its operations, finances, and conduct. In fact, a major indicator of an institution’s quality and excellence is how committed it is to adopt the principles of good governance in all facets of its operations and decision-making. This is even more important, as it significantly supports sustainable development in institutions. It is widely observed that the inability to uphold these principles can have negative effects on welfare, efficiency, and operational excellence, thereby affecting the long-term success of organisations.

The private sector is growing rapidly in the Middle East and North Africa (MENA) region. Despite the fact that every country is unique, forward-thinking companies throughout the region see better corporate governance as a competitive advantage in their quest for growth and profitability. Consequently, countries in the MENA region are at various stages of developing unique corporate governance frameworks. This could be further driven by making strenuous efforts to create a national environment that supports and encourages corporate governance in the region. The UAE ranked first in the Middle East and 24th globally on the Good Governance Index 2022, which was released by the Chandler Institute for Governance, a non-profit organisation that works with governments to strengthen their capabilities.

Sustainable development argues that the current use of resources should minimize the level of harm to the future generations’ share of resources. ‘Good Governance’ is capable of common sense and the versatile planning that is required for sustainable development.

A good corporate governance system fosters fair competition, enables more efficient utilisation of resources, increases employment opportunities, and the development of domestic and regional capital markets. With governance playing a crucial role in driving efforts to meet institutional goals, it has been referred to as the fourth pillar of sustainable development alongside social, environmental, and economic factors. As there is a strong emphasis on minimising future harm from the current use of resources, governance will certainly aid in shaping versatile strategies that ensure sustainable development across organisations.

Good governance is not a luxury, it creates a competitive edge for companies and economies.

 

Dr Ashraf Gamal Eldin is the CEO of Hawkamah Institute for Corporate Governance

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The top image above is of the World Economic Forum.

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COP27 delivers €15 million to protect Egypt’s coral reefs

COP27 delivers €15 million to protect Egypt’s coral reefs

Euronews in its story on COP27 delivers €15 million to protect Egypt’s coral reefs . Explanations as to why and how follow.

COP27 delivers €15 million to protect Egypt’s coral reefs – how will it help?

The featured image above is The Global Fund for Coral Reefs is boosting the resilience of Egypt's precious reefs.
The Global Fund for Coral Reefs is boosting the resilience of Egypt’s precious reefs.   –   Copyright  AP Photo/Thomas Hartwell
By Lottie Limb

The Egyptian resort town of Sharm El Sheikh has been transformed into the epicentre of efforts to address the climate crisis as it hosts COP27.

But the coastline on which the UN climate conference is being held is more than just a backdrop for official negotiations.

The coral reefs that have long drawn tourists to the Red Sea peninsula are among the most biodiverse in the world. They are home to over a thousand different species of fish and around 350 coral species.

 

Mindful of their global importance, the United States Agency for International Development (USAID) has announced a major new fund to support the local ecosystem.

The US agency has contributed $15 million (€14.9) to the Global Fund for Coral Reefs (GFCR), it revealed at COP27 on Tuesday.

This initiative is the largest global blended finance vehicle – whereby development aid is used to mobilise additional private or public funds – dedicated to the UN Sustainable Development Goal on ‘Life Below Water’.

The fresh injection of funds takes the total amount of money mobilised by the GCR since it was launched at the 75th UN General Assembly in September 2020 to $187 million (€185.9 million).

Why are Egypt’s coral reefs so important, and how will the funding help?

As well as being astonishingly beautiful and rich habitats in their own right, the fate of coral reefs is one of several major ‘tipping points’ that could push us into climate catastrophe.

As ocean temperatures rise, some reefs are being bleached almost every year. It has caused the deathly pale appearance of swathes of Australia’s Great Barrier Reef.

Given their unique potential to withstand increasing impacts of climate change, the Red Sea reefs might be the most resilient on Earth.

Protection of ‘coral refugia’ reefs – those in climate cool spots – is critical as they offer the global community the opportunity to safeguard ecosystems. They can also act as seed banks that could bring degraded reefs back to a vibrant and productive state, explains Nicole Trudeau of the UN Development Programme.

“The Red Sea is home to a rich underwater ecosystem that attracts millions of tourists who create millions of jobs for Egyptians and bring in billions in foreign currency each year,” says USAID Chief Climate Officer Gillian Caldwell.

Blue finance and supporting coastal communities

The funding will ‘incubate and scale’ business models that address local drivers of coral reef degradation – including overtourism.

It also aims to increase the resilience of local communities – a key part of GFCR’s approach in the 12 countries where it works, from Mozambique and Indonesia to Sri Lanka and Micronesia.

Development of the Egyptian Red Sea programme is led by the United Nations Development Programme Egypt Country Office.

“In the face of an intensifying climate crisis, USAID’s investment in the Red Sea Initiative will help to drive a nature-positive economic transition while boosting the climate resilience of coastal communities in Egypt,” UNDP Administrator Achim Steiner adds.

“[It is] demonstrating that change is possible when leadership, political will, and investment comes together.”

Many more ‘blue finance’ announcements – concerning mangroves and seagrass as well as reefs – are expected in the coming days at COP27.

A High Quality Blue Carbon Principles and Guidelines report, for example, is set to launch on Saturday.

“Nature-based solutions are being discussed at COP, but we still need to amplify the central role of nature in our climate mitigation and adaptation strategies,” marine conservation expert Josheena Naggea tells Euronews Green.

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