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UAE Participates in the 10th Annual Meeting of the Board of Governors of AIIB - Middle East Business News and Information
UAE Participates in the 10th Annual Meeting of the Board of Governors of AIIB - Middle East Business News and Information

Mid East Info

time15 hours ago

  • Business
  • Mid East Info

UAE Participates in the 10th Annual Meeting of the Board of Governors of AIIB - Middle East Business News and Information

Dr. Sultan Al Jaber participates in high-level roundtable on the sidelines of AIIB's Board of Governors Meeting, and reaffirms the UAE leadership's commitment to global partnerships and sustainable development goals Beijing June 2025 – H.E. Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and the UAE Governor to the Asian Infrastructure Investment Bank (AIIB), participated in a high-level roundtable held on the sidelines of the Bank's 10th Annual Meeting of the Board of Governors, hosted in Beijing from June 24 to 26, 2025, under the theme 'Connecting for Development, Collaborating for Prosperity.' During the meeting, the Board reviewed key achievements over the past year and explored future initiatives and projects. Participants emphasized the importance of coordinated international efforts to address global economic challenges—particularly those related to climate change—by expanding strategic partnerships, mobilizing concessional finance, and investing in sustainable infrastructure. Dr. Sultan Al Jaber commended AIIB's pioneering achievements and its critical role in financing transformative infrastructure projects across member countries. He noted that the UAE's support for this strategic partnership aligns with the directives of its wise leadership, which prioritizes multilateral cooperation, economic development, and bridge-building among nations. During his meeting with Ms. Zou Jiayi, the new President of AIIB, Dr. Sultan Al Jaber reaffirmed the UAE's continued support for AIIB's efforts to expand its global impact, noting the Bank's success since its establishment in improving living standards in many countries through developmental support and showcasing the importance of multilateral institutions in both development and financing. H.E. Mohamed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development and Alternate Governor for the UAE at AIIB, underscored the importance of the strategic partnership between the Fund and the Bank. He emphasized their shared development objectives, which effectively contribute to sustainable economic and social growth in developing nations. He added that AIIB's operational office in Abu Dhabi Global Market has proven to be a successful model for strengthening the Bank's capacity and expanding its operations. Within its first year, the office has helped align investments with the Bank's strategic priorities and enhanced engagement with clients, partners, and stakeholders across the region. It is worth noting that the UAE joined AIIB as a founding member in April 2015 and hosts the Bank's first operational office outside of China, reflecting the UAE's active and leading role in supporting and strengthening multilateral international institutions. Promising Growth and Impact: Over the past decade, AIIB has approved financing exceeding USD 60 billion to support 318 projects. According to its 2024 Annual Report, the Bank recorded exceptional operational growth, approving 51 new projects in 19 member countries, amounting to USD 8.4 billion in financing. AIIB also made significant progress in climate financing, allocating 67% of its total USD 5.6 billion in funding to sustainable projects—exceeding its 2025 target of 50%. Among these initiatives were renewable energy projects with a combined capacity of more than 21 gigawatts, contributing to the annual avoidance of approximately 28 million tons of CO₂ emissions. This decade of success reflects the UAE's forward-looking vision and its dedication to supporting multilateral institutions focused on sustainable development. It also reaffirms the country's strong commitment to international cooperation in addressing global challenges.

Doug Ford says U.S. governors agree Trump's comments on Canada were ‘insulting'
Doug Ford says U.S. governors agree Trump's comments on Canada were ‘insulting'

CTV News

time16-06-2025

  • Business
  • CTV News

Doug Ford says U.S. governors agree Trump's comments on Canada were ‘insulting'

Ontario Premier Doug Ford says his U.S counterparts are concerned about a drop in tourism from Canadians, telling him that President Donald Trump's comments about making Canada the 51st state were insulting to Canada. 'Well, as we talk to the governors, a lot of governors are saying it's insulting, it's insulting to your closest friend and allies,' Ford told CNN in an interview Monday morning. 'We love the U.S. I love the U.S. Canadians love Americans. There's one person that is causing this issue, and that's President Trump. Hopefully he'll take another avenue and start mending fences, because right now, as the governors told us here, they've seen a drastic decline in Canadian tourism.' Ford's comments come as he and several other premiers meets with a number of U.S. governors in Boston to discuss trade and tariffs. Some of the governors, Ford said, are particularly concerned about a sharp drop in tourism from Canadians amid the trade war, which has seen the U.S. impose tariffs on Canadian goods, only to decrease or escalate them with little warning. Trump has repeatedly called for Canada to become the 51st state and has said that he would use economic coercion in order to encourage the country to do so. Canadian leaders across the political spectrum have flatly rejected the idea as an assault on Canadian sovereignty. However Ford said warm relations persist between the governors and premiers, despite the rhetoric from the White House. 'It's a love fest in the room, and there's a mixture of everyone in the room, and we just want to get things back on track and move forward,' Ford said. The meeting is being attended by Maine Gov. Janet Mills, Vermont Gov. Phil Scott, Rhode Island Gov. Daniel McKee, Connecticut Gov. Ned Lamont, Massachusetts Gov. Maura Healey, and New York Gov. Kathy Hochul. Along with Ford, the Canadian delegation includes Newfoundland and Labrador Premier John Hogan, Prince Edward Island Premier Rob Lantz, Nova Scotia Premier Tim Houston, New Brunswick Premier Susan Holt, and Quebec economic minister Christine Fréchette. The Boston meeting between the governors and premiers comes the same day Prime Minister Mark Carney meets with Trump on the sidelines of the G7-summit in Alberta. Ford expressed confidence in Carney ahead of the meeting, but said he needs to send a strong message that Trump's tariffs are hurting both countries. 'I have all the confidence in the world in Prime Minister Carney,' Ford said. 'He'll be obviously very polite being the host, but he also has to be stern.' He reiterated that it 'makes no sense' to attack one of your strongest friends and allies. 'We have to send a message to the rest of the world; there's certainty here now in these two countries, and come and invest in the U.S. and Canada,' Ford said. When it comes to his response to the trade war, namely the controversial 'special economic zones' for resource extraction in Bill 5, Ford was asked whether his plan strips away First Nations rights in favour of economic growth. 'There's a few (First Nations) that's making noise, but the vast majority, you watch, though, they'll be full steam ahead, and we're going to work collaboratively with our First Nations communities,' Ford said. The bill has faced criticism from some First Nations groups over the special economic zones it allows the government to create. The bill gives the government the power to circumvent environmental and other regulations in zones of key economic interest designated by the province. - With files from CTV News

American cities brace for large crowds at anti-Trump ‘No Kings' demonstrations across the U.S.
American cities brace for large crowds at anti-Trump ‘No Kings' demonstrations across the U.S.

CTV News

time14-06-2025

  • Politics
  • CTV News

American cities brace for large crowds at anti-Trump ‘No Kings' demonstrations across the U.S.

U.S Marines work outside of a federal building, Friday, June 13, 2025, in Los Angeles (AP Photo/Noah Berger) PHILADELPHIA — Cities large and small were preparing for major demonstrations Saturday across the U.S. against American President Donald Trump, as officials urge calm, U.S. National Guard troops mobilize and Trump attends a military parade in Washington to mark the Army's 250th anniversary. A flagship 'No Kings' march and rally are planned in Philadelphia, but no events are scheduled to take place in Washington, D.C., where the military parade will take place on Trump's birthday. The demonstrations are gaining additional fuel from protests flaring up around the country over federal immigration enforcement raids and Trump ordering National Guard troops and Marines to Los Angeles where protesters blocked a freeway and set cars on fire. Police responded with tear gas, rubber bullets and flash-bang grenades while officials enforced curfews in Los Angeles and Democratic governors called Trump's Guard deployment 'an alarming abuse of power' that 'shows the Trump administration does not trust local law enforcement.' Governors and city officials vowed to protect the right to protest and to show no tolerance for violence. Republican governors in Virginia, Texas, Nebraska and Missouri are mobilizing National Guard troops to help law enforcement manage demonstrations. There will be 'zero tolerance' for violence, destruction or disrupting traffic, and 'if you violate the law, you're going to be arrested,' Virginia Gov. Glenn Youngkin told reporters Friday. In Missouri, Gov. Mike Kehoe issued a similar message, vowing to take a proactive approach and not to 'wait for chaos to ensue.' Nebraska's governor on Friday also signed an emergency proclamation for activating his state's National Guard, a step his office called 'a precautionary measure in reaction to recent instances of civil unrest across the country.' Organizers say that one march will go to the gates of Trump's Mar-a-Lago resort in Florida, where Republican Gov. Ron DeSantis warned demonstrators that the 'line is very clear' and not to cross it. Governors also urged calm. On social media, Washington state Gov. Bob Ferguson, a Democrat, called for peaceful protests over the weekend, to ensure Trump doesn't send military to the state. 'Donald Trump wants to be able to say that we cannot handle our own public safety in Washington state,' Ferguson said. In a statement Friday, Arizona Gov. Katie Hobbs, a Democrat, urged 'protestors to remain peaceful and calm as they exercise their First Amendment right to make their voices heard.' Pennsylvania Gov. Josh Shapiro, a Democrat, said his administration and state police are working with police in Philadelphia ahead of what organizers estimate could be a crowd approaching 100,000 people. Philadelphia's top prosecutor, District Attorney Larry Krasner, warned that anyone coming to Philadelphia to break the law or immigration agents exceeding their authority will face arrest. He invoked civil rights leader Martin Luther King Jr. as a guide for demonstrators. 'If you are doing what Martin Luther King would have done, you're going to be fine,' Krasner told a news conference. Some law enforcement agencies announced they were ramping up efforts for the weekend. In California, state troopers will be on 'tactical alert,' which means all days off are cancelled for all officers. Why is it called 'No Kings'? The 'No Kings' theme was orchestrated by the 50501 Movement, to support democracy and against what they call the authoritarian actions of the Trump administration. The name 50501 stands for 50 states, 50 protests, one movement. Protests earlier this year have denounced Trump and billionaire adviser Elon Musk. Protesters have called for Trump to be 'dethroned' as they compare his actions to that of a king and not a democratically elected president. Why are they protesting on Saturday? The No Kings Day of Defiance has been organized to reject authoritarianism, billionaire-first politics and the militarization of the country's democracy, according to a statement by organizers. Organizers intend for the protests to counter the Army's 250th anniversary celebration — which Trump has ratcheted up to include a military parade, which is estimated to cost US$25 million to $45 million that the Army expects to attract as many as 200,000 people. The event will feature hundreds of military vehicles and aircraft and thousands of soldiers. It also happens to be Trump's 79th birthday and Flag Day. 'The flag doesn't belong to President Trump. It belongs to us,' the 'No Kings' website says. 'On June 14th, we're showing up everywhere he isn't — to say no thrones, no crowns, no kings.' What is planned at the 'No Kings' protests? Protests in nearly 2,000 locations are scheduled around the country, from city blocks to small towns, from courthouse steps to community parks, organizers said. Demonstrations are expected to include speeches and marches, organizers said in a call Wednesday. The group says a core principle behind all 'No Kings' events is a commitment to nonviolent action, and participants are expected to seek to de-escalate any confrontation. No weapons of any kind should be taken to 'No Kings' events, according to the website. How many people are expected to participate? The No Kings Day of Defiance is expected to be the largest single-day mobilization since Trump returned to office, organizers said. Organizers said they are preparing for millions of people to take to the streets across all 50 states and commonwealths. The Associated Press

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