Latest news with #StrategicAlliance
Arab News
19 hours ago
- Business
- Arab News
Time for Trump to revive his Middle East alliance
After weeks of armed conflict between Israel and Iran, and in the aftermath of America's direct attack on Iran's nuclear weapons program, a fragile ceasefire appears to be taking hold. US President Donald Trump has made clear he has no interest in broadening the conflict. His objectives remain narrowly focused: preventing Iran from ever acquiring a nuclear weapon and making the region more stable. There is even talk in Washington of a possible diplomatic overture toward Iran and restarting negotiations. Whether that materializes remains to be seen. But in the wake of this short, intense conflict, a new opportunity has emerged for deeper US engagement in the region, particularly with the Gulf states. Trump has brought back decisive American leadership on the global stage, so countries in the region may be more willing to work more closely with the US. The president should seize this diplomatic momentum to revive one of the most creative initiatives from his first term: the Middle East Strategic Alliance. Originally proposed in 2017, the alliance reflected a strategic vision for a more integrated and secure Middle East. At the time, the Gulf states were interested but lacked a common understanding of what such an alliance should be. The Trump administration also did not clearly articulate its scope, leaving it vulnerable to diverging interpretations. Some Gulf countries saw it as a purely security-focused pact aimed at countering Iran. Others, seeking to balance their regional relations, were more hesitant to commit to a militarized posture. Still others envisioned the alliance as a platform to boost regional trade and US economic engagement. This time, Trump and his administration should remove any ambiguity. A revived alliance should have a clear mandate, starting with a robust security component. Without singling out any one threat, the US can lead efforts to improve defense coordination and enhance the capabilities of regional militaries. Second, the alliance should include an economic and trade dimension. Trump's emphasis on trade and tariffs aligns well with this. Only two Gulf countries, Bahrain and Oman, have free trade agreements with the US. Building on these could help formalize deeper economic cooperation and offer a framework for expanding US commercial ties across the Gulf. The administration should focus first on 'low-hanging fruit'— areas where consensus already exists and progress can be made quickly. Improving regional air and missile defense is one such area. The wars in Ukraine and between Iran and Israel have both illustrated the strategic importance of air defense systems in modern warfare. They have also exposed the economic imbalance in such conflicts: Shahed-class drones used by Iran can cost as little as $20,000, while the interceptors required to destroy them can cost hundreds of thousands of dollars. The US and its Gulf partners must work together to increase regional air and missile defense capabilities. This includes coordinating technology development, operational procedures, and joint investments to improve system effectiveness while reducing costs. Air defense cooperation is not politically controversial — its defensive nature makes it an easier sell domestically for governments in the region. Citizens expect their governments to provide security from missile and drone attacks, which are growing more common and more lethal. Qatar offers a case study. It experienced a major ballistic missile attack by Iran that was intercepted by US air defense systems. The attack was a wake-up call for the entire region. Investments in missile defense should be seen as both a strategic necessity and a politically viable starting point for a new alliance. A focus on air defense could also have benefits beyond the Gulf. It could boost cooperation with Israel, which already has some of the most advanced missile defense systems in the world. These lessons could also be shared across Abraham Accords partners, enhancing both interoperability and trust. Gen. Erik Kurilla, head of US Central Command, testified before Congress recently as part of his annual posture review. He emphasized the growing missile and drone threats in the Middle East. These threats are not hypothetical — they are shaping real-world policy and defense spending. A renewed alliance should be built around this reality. Now is the time for the Trump administration to act. The dust is settling after the Iran-Israel war. Diplomacy is once again being discussed. Regional states are looking to Washington for leadership and reassurance. A clearly defined, strategically sound alliance could be the foundation for a new era of regional cooperation that goes beyond security and includes trade, economic cooperation, and normalization. Reviving the Middle East Strategic Alliance will not be easy, but it is achievable. The geopolitical landscape has shifted in the region's favor. Shared concerns about air threats, increased interest in normalization, and a willingness to engage economically all create the right conditions for success. But this time, the US must lead with clarity and purpose. Trump and regional leaders should not let this moment pass. With smart leadership and clear objectives, a revived alliance could be the key to making the Middle East a safer, more secure, and more prosperous region for years to come. • Luke Coffey is a senior fellow at the Hudson Institute. X: @LukeDCoffey.
Yahoo
04-03-2025
- Business
- Yahoo
Angkor Resources EnerCam Exploration Canada Signs Joint Strategic Alliance Agreement On Oil & Gas Block Viii Onshore, Cambodia
GRANDE PRAIRIE, ALBERTA - March 4, 2025 (NEWMEDIAWIRE) - ANGKOR RESOURCES CORP. (TSXV: ANK) ("ANGKOR") announces its Canadian energy subsidiary, EnerCam Exploration Ltd.("EnerCam Canada"), has signed a Joint Strategic Alliance Agreement (the "Agreement") on February 28, 2025 with 358140 Alberta Ltd. ("358") and with EnerCam Resources Co. Ltd. Cambodia ("EnerCam Cambodia") to finance and develop oil and gas production for the Cambodian Block VIII onshore project. (the "Project"). President of EnerCam, Mike Weeks, comments on the transaction: "We are so pleased to be in a Strategic Alliance with 358, a Canadian company that is well versed in the oil & gas industry. Their funding will allow us to advance the Project to complete magnetics, seismic, and other activities we anticipate will lead to Cambodia's first onshore wells being drilled. Their added expertise of using advanced drilling and recovery methods in Canada make way for Cambodia to not only move to producing its own energy from hydrocarbons, but to do so in using some of the latest, greenest technologies." Weeks adds, "As well, 358 brings business acumen for adding additional investors at a strategic time to grow the project and the industry. Any additional funding and investment into the Project are governed by mutual agreement and comes out of 358's interest." Highlights of the agreement include: - 358 shall be responsible to fund 100% of the Project under the Agreement terms. - EnerCam will be the Operator of the Project from exploration through to production. - EnerCam will maintain a 20% carried interest in the Project and 358 will hold an 80% interest in the Project. EnerCam has the option of converting to a 3% GORR (gross overriding royalty) at the production stage. - Phase One will cover licensing commitments, seismic and analysis, and drill targets developed at an estimated cost of $4.5 million USD. Phase Two will cover additional 3-D seismic if necessary and a series of exploratory wells for an estimated cost of $5.5 million USD. Phase three will cover drilling several developmental wells at an estimated cost of $20-$30 million USD. - 358 has the option to add 358 associates or personnel to the Operator's team to add capacity to human resources. - 358 shall pay an amount of $125,000 USD to EnerCam Canada as a participation fee. A member of Angkor's management holds a non-controlling interest in 358. EnerCam's technical management team will include veterans from across the globe who have decades of experience in the oil and gas industry. First steps of the Project will be final government approval to proceed with a voluntary reduction of land from EnerCam Cambodia to remove parks, protected areas, and wildlife sanctuaries from the areas of exploration and potential production. EnerCam Cambodia negotiated and finalized a 30-year Production Sharing Contract with the Royal Government of Cambodia regarding oil and gas exploration and production in Block VIII in late 2022. The reduction of the size of the license from 7300 square kilometres to 3729 square kilometres to remove parkland requires written approval from government authorities for Block VIII to proceed. To date, Cambodia has no onshore oil and gas wells drilled in the country, although it is surrounded by production in Vietnam, and Thailand. Currently, Cambodia spends over *$2 billion USD annually importing its hydrocarbon-based energy products such as LNG, LPG, gasoline, diesel, etc. *(Reference: Angkor Times, Dec. 22 2024) All licenses issued by the government of Cambodia for natural resources such as mining or oil and gas must be held by a Cambodian-incorporated company. EnerCam Cambodia was incorporated in the Kingdom of Cambodia on January 16, 2020 under certificate registration number 00050674 for the purpose of oil and gas exploration, development, and production. ABOUT 358140 Alberta Ltd. 358 has been involved in oil and gas, agriculture, and real estate ventures in Canada for over three decades and has expanded into oil drilling and production plays across Alberta and Saskatchewan in the past five years. Currently, the company has a participating interest in four different oil and gas production projects, three in Alberta and the fourth in Saskatchewan. ABOUT ENERCAM EXPLORATION LTD. EnerCam Exploration Ltd. is a Canadian corporation owned 100% by its parent, Angkor Resources Corp. The company is focussed on oil and gas production and gas conservation/carbon capture and has a 40% interest in an oil and gas production project in Evesham Saskatchewan, Canada. ABOUT ANGKOR RESOURCES CORPORATION: ANGKOR Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. ANGKOR's carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across expanding jurisdictions. The company's mineral subsidiary, Angkor Gold Corp. in Cambodia holds three mineral exploration licenses in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia called Block VIII. Since 2022, Angkor's Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Evesham, Saskatchewan. CONTACT: Delayne Weeks - CEOEmail: info@ Website: Telephone: +1 (780) 831-8722 Please follow @AngkorResources on LinkedIn, Facebook, X, Instagram and YouTube. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Sign in to access your portfolio
Zawya
13-02-2025
- Business
- Zawya
UAE champions AI governance, technology innovation: KPMG-WGS report
A new KPMG report in collaboration with the World Governments Summit (GMC), titled 'The Future of AI Governance: the UAE Charter and Global Perspectives', underscored how the UAE's global leadership in ethical AI is paving the way for robust AI governance in the region. These strategic initiatives take centre stage at the WGS in Dubai, as international leaders gather to discuss and define the future of AI, government services, urbanisation, education and smart mobility. The UAE has successfully embedded technology into government services and aligned its advancements with human well-being and societal values. The UAE AI Charter, released in 2024, reflects this leadership through its 12 guiding principles, which prioritise inclusivity, transparency, innovation, and accountability. The WGS 2025 theme of 'Shaping Future Governments', makes this charter especially relevant as AI governance becomes a defining challenge for policymakers. The principles in the charter are designed to ensure that AI technologies enhance human capabilities while safeguarding fundamental rights, promote fairness and inclusivity, reduce bias and discrimination, maintain trust through transparency and robust data privacy measures and drive innovation with ethical governance. Joe Devassy, Director of Strategic Alliance at KPMG Lower Gulf, said, 'The UAE is rapidly emerging as a global hub for technology, including ethical and responsible AI development – both key themes at this year's WGS. In this context, the UAE AI Charter is playing a pivotal role in consolidating the nation's ambitions to secure a digital future. He added, 'The charter is more than a set of guidelines; it is a precursor to formalised AI regulations that are likely to shape the future of AI governance in the region. Organisations that act now to align with these principles will gain a competitive edge, enabling them to unlock opportunities for responsible innovation, positioning themselves as leaders in ethical AI adoption.' Governments worldwide are shifting from voluntary AI ethics frameworks to enforceable regulations. Without clear AI oversight, risks like bias, misinformation, and misuse could undermine digital governance efforts. Furthermore, businesses that delay alignment will face serious consequences. The UAE's structured approach to AI accountability benefits businesses and its citizens, who stand to gain from more transparent, unbiased, and secure AI-driven systems.
