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Crown prince Sheikh Hamdan announces Dubai will host world's largest sports summit in December 2025
Crown prince Sheikh Hamdan announces Dubai will host world's largest sports summit in December 2025

Time of India

time3 days ago

  • Sport
  • Time of India

Crown prince Sheikh Hamdan announces Dubai will host world's largest sports summit in December 2025

Crown Prince Sheikh Hamdan announced that Dubai will host the World Sports Summit in December 2025, set to be the largest global gathering of athletes, experts, and decision-makers in sport/ Instagram Dubai is set to host the World Sports Summit from December 29 to 30, 2025, an event that Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum says will become the largest global gathering of sports stars, industry experts, and decision-makers. The announcement was made via Sheikh Hamdan's official account on X (formerly Twitter), where he emphasized Dubai's growing role in shaping the future of international sport. A Global Sporting Event with Big Ambitions The summit, organised by the Dubai Sports Council, will take place at Madinat Jumeirah, a premier venue known for hosting high-profile events. Described as the world's largest sports gathering, the summit is expected to draw an extensive lineup of attendees, from elite athletes and coaches to investors, policymakers, and industry leaders. In his announcement, Sheikh Hamdan stated: 'The summit will offer a global platform to reinforce the role of sport in uniting communities, inspiring future generations, driving economic growth, and nurturing talent locally, regionally, and globally.' He added that the event will help position Dubai at the forefront of global sporting innovation and development, furthering its reputation as a hub for world-class events and initiatives. What to Expect: Key Features and Focus Areas The World Sports Summit 2025 promises a packed agenda designed to address the challenges and opportunities within the global sports ecosystem. The two-day programme will include: Keynote Speeches by influential figures from the sports world Panel Discussions tackling emerging trends, sustainability, and fan engagement Workshops aimed at practical skill-sharing and collaboration Specialised Meetings under the theme: "Designing the Future of Global Sports" Key topics under discussion will include: How sport can serve as a catalyst for unity and inspiration New avenues to enhance audience engagement Strategies to boost the economic viability of sports events The impact of emerging technologies on the future of sports Given Dubai's world-class infrastructure, global connectivity, and proven track record in hosting international events, it's seen as an ideal stage for this ambitious summit. Sheikh Hamdan: A Champion of Sport and Wellness A noted advocate for sports and well-being, Sheikh Hamdan is deeply passionate about fitness and high-adrenaline activities. His personal interests include freediving, spearfishing, and Spartan Races, adventures he frequently documents on social media, helping inspire a more active lifestyle among his millions of followers. His passion also translates into city-wide initiatives. Most notably, in 2017, Sheikh Hamdan launched the Dubai Fitness Challenge (DFC), a month-long campaign encouraging residents to engage in 30 minutes of daily exercise for 30 consecutive days. The DFC has since evolved into a city-wide celebration of health and fitness. Each year, Sheikh Hamdan actively participates, with one of the most memorable DFC events being the transformation of Sheikh Zayed Road, Dubai's busiest highway, into a massive track for a city-wide run that draws tens of thousands of residents.

US nears $500 million deal to fund African mineral export railway
US nears $500 million deal to fund African mineral export railway

Business Insider

time24-06-2025

  • Business
  • Business Insider

US nears $500 million deal to fund African mineral export railway

The U.S. International Development Finance Corporation (DFC) is nearing completion of over $500 million in financing for the Lobito Corridor. The U.S. International Development Finance Corporation is finalizing over $500 million in financing for the Lobito Corridor railway project in Africa. This project aims to establish a critical minerals transportation route from Central Africa's copper belt to Angola's Atlantic coast. The initiative is seen as a strategic move to strengthen U.S. involvement in Africa's critical minerals sector. The U.S. International Development Finance Corporation (DFC) is nearing completion of over $500 million in financing for the Lobito Corridor, a major railway project designed to transport critical minerals from Central Africa's copper belt to Angola's Atlantic coast. The move comes as the Trump administration reaffirms its support for the ambitious infrastructure initiative, which is viewed as a strategic effort to boost U.S. engagement in Africa's critical minerals sector. Speaking at the U.S.-Africa Business Summit in Luanda on Monday, DFC's Head of Investments, Conor Coleman, said the agency is 'actively negotiating' with key stakeholders, including the Angolan government and Trafigura Group, to finalize the deal, Bloomberg reported. Lobito corridor project The Lobito Corridor project is a major transnational infrastructure and investment initiative designed to connect the Atlantic port of Lobito in Angola to the mineral-rich regions of the Democratic Republic of Congo (DRC) and Zambia. The DFC initially announced in 2023 that it was reviewing financing for the project. When asked about delays, Coleman declined to elaborate but emphasized that they are not related to any upcoming policy changes under the Trump administration. 'There's business as usual' at the DFC, Coleman said. 'You'll see us playing a lot in critical minerals infrastructure, both digital and transportation, as well as energy, especially here on the African continent.' The DFC has committed a $3.4 million technical assistance grant to support Pensana Plc's rare-earth extraction and processing project in Angola. Meanwhile, Congo's government plans to launch a tender in November to begin construction on its portion of the corridor, with hopes the railway will be operational within three years, according to Vice Prime Minister Jean-Pierre Bemba. Congo, the world's largest cobalt producer and second-largest copper miner, also holds significant lithium reserves, all of which could be transported along the corridor to global markets.

US sticks to plan for new African critical minerals railway
US sticks to plan for new African critical minerals railway

News24

time24-06-2025

  • Business
  • News24

US sticks to plan for new African critical minerals railway

• For more financial news, go to the News24 Business front page. The US International Development Finance Corporation is finalising more than $500 million in financing for the Lobito corridor, a railway project that will haul critical minerals from central Africa's copper belt to an Atlantic port in Angola. The DFC is 'actively negotiating' with stakeholders, including the Angolan government and Trafigura Group over the funding, Conor Coleman, head of investments at DFC, told reporters on the sidelines of the US-Africa Business Summit in the Angolan capital, Luanda, on Monday. 'We remain very committed to that project overall and we're working tirelessly to make sure that project is effectuated,' he said. The DFC first said it's reviewing financing for the project in 2023. Coleman declined to comment on the reasons for the delay, adding that they're unrelated to any changes the Trump administration has planned for the DFC. 'There's business as usual' at the DFC, Coleman said. 'You'll see us playing a lot in critical minerals infrastructure, both digital and transportation, as well as energy, especially here on the African continent.' The DFC has committed a $3.4 million technical assistance grant to Pensana's rare-earths extraction and processing project in Angola and is in talks to finance Carrinho Group's agricultural manufacturing plant through a senior secured-debt facility. In separate comments, Angola's Minister of State for Economic Coordination Jose de Lima Massano attributed the delays to contractual clauses, including guarantees sought by the funders. 'These aren't state loans,' Massano said. 'We're working to ensure the right conditions for private investment to advance quickly.' Neighbouring Democratic Republic of Congo is also asking the DFC to support plans to rehabilitate a railway line from the country's copper and cobalt mines around the town of Kolwezi that connects to the corridor, Congolese Transport Minister Jean-Pierre Bemba said. The country is already in talks with the European Union and the European Investment Bank about supporting a public-private partnership to develop the project, Bemba said. A small amount of planned funding for the project from USAID was blocked amid cuts to the agency by the Trump administration earlier this year. Congo's government plans to launch a tender to build the infrastructure in November, with the hope the railway may be running in three years, Bemba said. Congo is the world's biggest cobalt producer and second-largest copper miner, and has huge deposits of lithium that could be shipped along the line. The Trump administration has shown a keen interest in Africa's critical minerals as it seeks to challenge China's dominance. While the US lags China in the minerals race in Africa, it's 'not too late,' Coleman said. China currently processes all the minerals it extracts from the continent in China, 'and that's not what any of the countries want,' he said. There is room for the US and for the countries to diversify their customer base and think differently about beneficiation, Coleman said. 'There's opportunity in the lateness.'

US Finalizing $500 Million for African Critical Minerals Railway
US Finalizing $500 Million for African Critical Minerals Railway

Yahoo

time24-06-2025

  • Business
  • Yahoo

US Finalizing $500 Million for African Critical Minerals Railway

(Bloomberg) -- The US International Development Finance Corp. is finalizing more than $500 million in financing for the Lobito corridor, a railway project that will haul critical minerals from central Africa's copper belt to an Atlantic port in Angola. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice US State Budget Wounds Intensify From Trump, DOGE Policy Shifts 'We Were Failed': Johannesburg Transit Access Remains Scant for Commuters The DFC is 'actively negotiating' with stakeholders, including the Angolan government and Trafigura Group over the funding, Conor Coleman, head of investments at DFC, told reporters on the sidelines of the US-Africa Business Summit in the Angolan capital, Luanda, on Monday. 'We remain very committed to that project overall and we're working tirelessly to make sure that project is effectuated,' he said. The DFC first said it's reviewing financing for the project in 2023. Coleman declined to comment on the reasons for the delay, adding that they're unrelated to any changes the Trump administration has planned for the DFC. 'There's business as usual' at the DFC, Coleman said. 'You'll see us playing a lot in critical minerals infrastructure, both digital and transportation, as well as energy, especially here on the African continent.' The DFC has committed a $3.4 million technical assistance grant to Pensana Plc's rare-earths extraction and processing project in Angola and is in talks to finance Carrinho Group's agricultural manufacturing plant through a senior secured-debt facility. In separate comments, Angola's Minister of State for Economic Coordination Jose de Lima Massano attributed the delays to contractual clauses, including guarantees sought by the funders. 'These aren't state loans,' Massano said. 'We're working to ensure the right conditions for private investment to advance quickly.' Neighboring Democratic Republic of Congo is also asking the DFC to support plans to rehabilitate a railway line from the country's copper and cobalt mines around the town of Kolwezi that connects to the corridor, Congolese Transport Minister Jean-Pierre Bemba said. The country is already in talks with the European Union and the European Investment Bank about supporting a public-private partnership to develop the project, Bemba said. A small amount of planned funding for the project from USAID was blocked amid cuts to the agency by the Trump administration earlier this year. Congo's government plans to launch a tender to build the infrastructure in November, with the hope the railway may be running in three years, Bemba said. Congo is the world's biggest cobalt producer and second-largest copper miner, and has huge deposits of lithium that could be shipped along the line. The Trump administration has shown a keen interest in Africa's critical minerals as it seeks to challenge China's dominance. While the US lags China in the minerals race in Africa, it's 'not too late,' Coleman said. China currently processes all the minerals it extracts from the continent in China, 'and that's not what any of the countries want,' he said. There is room for the US and for the countries to diversify their customer base and think differently about beneficiation, Coleman said. 'There's opportunity in the lateness.' Sign up here for the twice-weekly Next Africa newsletter, and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you listen. Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? What Mike Tyson and the Bond Market Can Teach Trump on Debt ©2025 Bloomberg L.P. Sign in to access your portfolio

US Remains in Talks on $500 Million for Angola's Rail Corridor
US Remains in Talks on $500 Million for Angola's Rail Corridor

Bloomberg

time23-06-2025

  • Business
  • Bloomberg

US Remains in Talks on $500 Million for Angola's Rail Corridor

The US International Development Finance Corp. is still finalizing more than $500 million in financing for the Lobito corridor, a railway project that will haul critical minerals from central Africa's copper belt to an Atlantic port in Angola. The DFC is 'actively negotiating' with stakeholders, including the Angolan government and Trafigura over the funding, Conor Coleman, head of investments at DFC, told reporters on the sidelines of the US-Africa Business Summit in Luanda on Monday. 'We remain very committed to that project overall and we're working tirelessly to make sure that project is effectuated.'

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