The United Nations Conference on Trade and Development (UNCTAD) has announced Abu Dhabi as the host city of its 8th World Investment Forum, to be held from 16th to 20th October 2023.
Taking place under the theme “Investing in Sustainable Development”, the forum will bring together government leaders, global CEOs and other investment stakeholders to tackle the key challenges brought about by multiple global crises, including the need to invest in food security, energy, health, supply-chain resilience, infrastructure and productive capacity growth in the least developed countries.
UNCTAD Secretary-General Rebeca Grynspan and Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, today presented the priority themes of the forum.
The forum will take place a few weeks ahead of the annual climate summit COP28, which will also be held in the UAE. The forum will enable policymakers and other stakeholders to find solutions and reach consensus on priority issues, and its outcomes will feed into COP28 negotiations.
Important opportunity
“At a time when much of the world is struggling with contracting markets and a post-COVID recovery that has yet to fully take hold, UNCTAD’s 8th World Investment Forum is an important opportunity to take a long-term perspective,” Dr. Al Zeyoudi said.
He said the challenges the world faces, whether systemic issues such as climate change, inequality and food security or mitigating the pandemic’s impact on trade, investment and supply chain resilience, require unity of purpose and action on an unprecedented scale.
Dr. Al Zeyoudi added, “It is fitting that the event takes place in the UAE, where we are continuously reinventing and remodelling our economy to anticipate future changes. Decades of UAE innovation are now generating a level of recognition and trust in our systems and processes, while various national initiatives have helped to attract unprecedented investment and talent, transforming our nation into a truly global business hub.”
From the host city Abu Dhabi, Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development, underscored the critical need to safeguard and build on the process of global reform, including the liberalisation of trade and responsible investment policies.
“Against the backdrop of a highly volatile global economic landscape, the international community shares a collective responsibility to address the challenges facing the multilateral trading and development system,” he said. “It is imperative that we continue to come together, cooperate and identify much-needed solutions and alternative ways for the prosperity of all countries and humankind.”
Al Shorafa said the UAE proudly embodies the ideals of openness, equality and sustainability, the pillars of its successful international business and trade doctrine. “We will continue to work with all countries towards alleviating poverty and supporting long-term growth for sustainable development. We have a clear vision on how to scale the solutions required to help move the world forward and achieve real progress.”
For her part, Trypans emphasised the vital role the forum plays in mobilising efforts by the international investment-development community to address global challenges, which have both multiplied and converged in recent years.
“I see how investors, firms and governments are, in increasing numbers, putting sustainability and long-term value at the core of their activities,” she said. “The World Investment Forum aims to bring them all together to make a positive contribution to addressing today’s most pressing issues, including through climate finance and investment. I sincerely thank our host country partners, the Ministry of Economy and the Government of Abu Dhabi, for offering to host the forum.”
California-based fintech company Aspiration Inc. (Aspiration), announced today that the company will be setting up offices at Abu Dhabi Global Markets.
Aspiration, which is backed by such powerhouses as Oaktree Capital Management and affiliates of former Microsoft Corp CEO Steve Balmer, in addition to environmentalists and Hollywood icons Leonardo DiCaprio and Robert Downey Jr, is being supported by Access Abu Dhabi, the business expansion programme by Maven Global Access and supported by Abu Dhabi Investment Office (ADIO), that serves as a conduit to fast-track entry to the burgeoning UAE capital.
The announcement was made today during Abu Dhabi Sustainability Week, where Vinoda Basnayake, President of Aspiration MENA discussed the company’s ambitious plans for the region.
Aspiration is a purpose-driven climate action company that offers large and small enterprises, governments, investors, and consumers access to a portfolio of high-quality carbon assets through innovative products, services, and investments that drive climate action.
Aspiration aims to serve as a sustainability partner for the UAE ahead of the country hosting COP28, the UN’s annual climate change summit taking place this November and December. Aspiration’s world-class carbon programme manages one of the world’s largest inventory of premium tree planting and carbon reduction portfolios that collectively accelerate global decarbonization and deliver tangible environmental and social impact at scale.
“Abu Dhabi is one of the world’s most forward-thinking and climate smart cities. We are excited about the opportunity to develop partnerships here with the support of Access Abu Dhabi and ADIO.” Vinoda Basnayake, President of Aspiration MENA, stated. “Aspiration is the sustainability partner to some of the most recognised names in the globe ranging from corporations such as Meta and Deloitte to professional sports franchises the Los Angeles Clippers and the Boston Red Sox. We are excited to expand to the UAE and are looking forward to providing similar carbon mitigation solutions at scale here as well.”
The UAE has set out an ambitious plan to achieve climate neutrality by 2050 and will invest US$163.5 billion (AED600 billion) in renewable energy to deliver sustainable economic growth. ADIO partners with innovative companies capable of accelerating the UAE’s road to net zero by developing and commercialising technology and services across a range of sectors.
In 2022, ADIO supported through its Innovation Programme Siemens Energy AG to set up its Middle East Innovation Centre in Abu Dhabi, focused on developing clean energy technologies. In the AgTech sector, Abu Dhabi has made significant headway in “turning the desert green” through ADIO’s support for innovators pioneering desert agriculture solutions.
Abdulla Abdul Aziz Al Shamsi, Acting Director-General of ADIO, said, “As the UAE gets ready to host COP28, we are focused equally on achieving our net-zero goal while developing globally relevant solutions. Aspiration Inc. offers a pioneering solution for business and individuals to achieve their climate goals and we are delighted to welcome them to our ecosystem. Abu Dhabi is a global hub for green energy, finance and technology that is ready to partner with innovation-driven companies like Aspiration Inc. to make a global impact.”
Dhaher bin Dhaher Al Mheiri, CEO of ADGM Authority, added, “ADGM is pleased to welcome Aspiration Inc. into its sustainable financial hub based in the capital of the UAE. As the international financial centre that has achieved a carbon-neutral status and has a forward-looking and innovative approach to sustainability, we always look forward to onboarding purpose-driven climate action organisations such as Aspiration Inc. that advance environmental goals through similar beliefs and strategies. The opportunities within the global carbon market are already evolving, and we are ecstatic about the value-add Aspiration Inc. will bring to businesses, investors, government, and government-affiliated bodies to strengthen the green economy of Abu Dhabi, the UAE and the MEASA region, especially with COP28 upcoming later this year.”
Established in 2008, ADSW is a global platform for accelerating the world’s sustainable development. The event brings together heads of state, policymakers, industry leaders, investors, entrepreneurs and youth in the UAE capital to discuss and engage on bold climate action and innovations that will ensure the next generation a sustainable world.
Riyadh, Jan.19 (BNA): The main Saudi stock index (TASI) ended trading today up, gaining 17.97 points, to close at 10682.01 points level, with deals worth SAR 3.4 billion, reports SPA
The number of shares traded – according to the daily economic bulletin of the Saudi Press Agency for the Saudi Stock Market – reached 101 million, through more than 284,000 deals, in which the shares of 93 companies advanced, while 110 others declined.
The Saudi parallel stock index (NOMU) closed higher today, gaining 159.71 points, to close at the level of 18213.17 points, with a trading amount worth SAR 67 million, and the number of shares traded reached more than 267,000, through 1805 deals.
New York, 19 Jan (ONA) — Wall Street drifted lower in premarket trading today, extending the largest single-day retreat of the year which happened yesterday (Wednesday) after new economic data heightened worries about the possibility of a recession.
Futures for the Dow Jones Industrial Average and the S&P 500 slid 0.8% before the opening bell. In Europe, France’s CAC 40 and Germany’s DAX each fell 1.7%, while Britain’s FTSE 100 tumbled 1.2%.
Japan’s benchmark Nikkei 225 slipped 1.4% to 26,405.23. Australia’s S&P/ASX 200 gained 0.6% to 7,435.30. South Korea’s Kospi added 0.5% to 2,380.34. Hong Kong’s Hang Seng shed 0.1% to 21,650.98, while the Shanghai Composite rose 0.5% to 3,240.28, the Associated Press reported.
PDO Celebrates Graduation of 340 Young Omanis through Emdad Initiative
Muscat, 19 Jan (ONA) — Petroleum Development Oman (PDO) celebrated today the graduation of 340 young Omanis as part of its Emdad initiative.
The trainees were the 19th batch to graduate from the programme which was launched in 2011 to create job and training opportunities for Omani jobseekers in the oil and gas sector.
The graduates were enrolled in different technical and non-technical training schemes, which are in line with the Company’s efforts to support the Government’s economic diversification drive, and have qualified to work in a range of sectors including HSE, IT, and quality control.
The graduation ceremony was held at Oman Convention and Exhibition Centre (OCEC) under the auspices of Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals.
Al Aufi said: “Today’s graduation of 340 young Omanis through Emdaad initiative is a testament to the success of PDO’s continued efforts to support the initiatives of providing job and training opportunities for Omanis. These graduates are now qualified to work in a range of sectors and make a valuable contribution to Oman”.
Having successfully completed training programmes lasting from seven to 24 months at different training institutes and companies, the graduates are now certified to have full-time paid positions at several companies.
On his turn, PDO Managing Director Steve Phimister said: “PDO is proud to play an integral role in empowering these young Omanis by creating sustainable jobs for them, and it is our sincere thanks to our partners for their commitment and continuous support.”
He added, “We are confident that the graduates have the skills and knowledge to positively impact their careers and communities.”
The Emadad initiative seeks to improve employment opportunities for Omani jobseekers by providing vocational training, scholarship opportunities and apprenticeship programmes. Emdad continues to co-ordinate directly with relevant government bodies and the private sector to create sustainable opportunities as per the job market’s needs.
Saudi Arabian Oil Company (Saudi Aramco) has completed the acquisition of Motiva Trading through its affiliate Aramco Trading Company (ATC), according to a press release. The move comes as part of Saudi Aramco’s strategy to expand its trading business across North and South America by creating Aramco Trading Americas (ATA), a wholly-owned subsidiary of ATC in the US.
The newly-launched entity will enable ATC to foster its business and provide customers with access to the world’s solid hydrocarbon system, which will boost its value chain worldwide. Through the purchase agreement, ATA will be the sole supplier and offtaker of Motiva Enterprises, which owns North America’s biggest refinery with a daily crude refining capacity of 630,000 barrels, generating consumer and commercial-grade fuels and base oils.
We plan to host Tesla’s 2023 Investor Day on March 1, 2023. The event will be live streamed from our Gigafactory Texas, with the option for some of our institutional and retail investors to attend in person (details to follow). Our investors will be able to see our most advanced production line as well as discuss long term expansion plans, generation 3 platform, capital allocation and other subjects with our leadership team.
With the help of artificial intelligence BMW Welt visitors can become part of the animation about the new BMW i Vision Dee vision vehicle on a 42 square metre LED screen
Face swapping on the next level: BMW Welt visitors will see their face animated in 3D on a LED screen with the BMW i Vision Dee vehicle
Based on a photo taken on-site, artificial intelligence integrates the user’s face into the film, in an astonishingly real quality
An emotional encounter with the new BMW i Vision Dee. Interactive, personalized and provided with impressive 3D effects
Munich. A face is something unique. Distinctive and not interchangeable – in reality. Since 5 January 2023, artificial intelligence allows BMW Welt visitors to become part of a film about the new BMW i Vision Dee. The astonishing face-swapping technology at the BMW i area projects the visitor’s face right onto a 42 square metre big LED screen, seconds after their photo is taken. On 4 January 2023, the BMW i Vision Dee was presented for the first time at CES in Las Vegas. The name “Dee” stands for digital emotional experience. Creating a memorable experience with the mobility of the future – that’s what it’s all about. Taking the relationship between human and automobile to a new level.
The innovative media system creates a three-dimensional spatial illusion by using a photo of the respective visitor, who becomes the protagonist of the film with Dee by his site. “With this new staging, we would like to offer BMW Welt visitors an experience that is both spectacular and joyful,” says Tatjana Bister, head of BMW Welt. “BMW has always stood for pioneering spirit and innovation. Now, for the first time, we are bringing a technology to life at BMW Welt that takes us directly into Dee’s world and immediately gives us a sense of a digital future.”
The interactive tool at BMW Welt was realised by the agency Elastique. from Cologne, together with the start-up Reface, founded in Ukraine. “Reface is the market leader in face-swapping technology, the photo-realistic exchange of faces in images and films,” says Andreas Schimmelpfennig, creative director and founding member of Elastique. “Never before has this technology been used in the field of large-scale LED screens that create a three-dimensional illusion for the naked eye.”
The “anamorphic illusion” looks as if elements from the film are extending far out of the screen. BMW Welt visitors first take a picture of themselves at a photo station. Within seconds, the image is transferred to the face in the film with the help of artificial intelligence, where it is integrated seamlessly and deceptively real, by applying various layers. The technology behind this uses a complex media system that assembles the individual image elements in real time. For the visitors, perfect instagrammable moments are created as souvenirs.
HIROSHIMA, Japan — Mazda Motor Corporation unveiled the Mazda MX-30 e-Skyactiv R-EV, a plug-in hybrid model that uses a rotary engine as a generator, at the Brussels Motor Show1 today.
The leading product for Mazda electrification, the Mazda MX-30 launched in 2020 as Mazda’s first mass-production battery electric vehicle, with a mild hybrid model joining the product lineup for some markets. With “living true to yourself” as the product concept, the MX-30 has offered pure, pleasant drive, an exterior with a familiar, approachable look, and a cabin space that settles the mind and heart through the use of materials with a warmth to them—all elements that make time spent with the car and experiences enjoyed alongside it creativity-inspiring for owners.
The MX-30 e-Skyactiv R-EV is a series plug-in hybrid that continues to deliver the same customer value as the original MX-30 while simultaneously offering owners new ways of using their car as a battery electric vehicle. The MX-30 e-Skyactiv R-EV has an 85 km battery electric driving range2 sufficient for a wide range of everyday driving needs as well the ability to use a generator to enable long distance drives. On top of this, the entire driving range is motor-powered.
Mazda chose to use a rotary engine to power the generator system. Levering the unique way in which rotary engines can produce the required output with a small power unit, Mazda developed the new rotary engine3 to work as a generator and positioned it on the same axel as a high-output motor and a generator in the motor room. Mazda then paired this compact electric power unit with a 17.8 kWh lithium ion battery and a 50 L gas tank to achieve the unique series plug-in hybrid system.
The MX-30 e-Skyactiv R-EV also supports customers with an active lifestyle by offering features including compatibility with both normal and fast charging, 1,500 W power supply functionality, and three drive modes drivers can choose from to suit different driving situations: Normal, EV, and Charge modes.
Additionally, the MX-30 e-Skyactiv R-EV will be available in a special edition model: “Edition R.” Edition R vehicles feature black-based exterior and interior trims with Maroon Rouge Metallic, a remake of the roof color of Mazda’s first passenger vehicle, the Mazda R360 Coupe, as an exterior accent color. It also includes exclusive design elements such as a rotor-shaped emblem sewn into the floor mats and embossed on the seat headrests.
In moving toward 2030, Mazda will aim to continue research based on its human-centered philosophy, create more moving experiences for people to enjoy while driving in their daily life, and deliver more enjoyment to everyday life which will uplift and energize people.
1. Press day is January 13 and public entry is between January 14-22.
2. Electric-only driving range: The European WLTP test cycle value when EV mode is selected as the drive mode. This value is based on specific test conditions and actual electric-only driving range will vary depending on actual driving conditions. Additionally, in situations such as if the driver needs to accelerate suddenly and purposefully depresses the accelerator pedal significantly beyond a certain point (equivalent to the kickdown switch function on a standard automatic transmission vehicle), the power generation system will activate and generate the energy for the required output.
The upscaled model is available in multiple powertrain variants, including EV, HEV and ICE, with sporty N Line versions of each, depending on market and trim level
· The all-new KONA provides roomier and more versatile interior space for increased passenger comfort and easy cargo storage via its customizable smart power tailgate
· The sporty SUV elevates the customer experience with advanced technologies, such as Over-the-Air updates, 12.3-inch dual wide displays and various advanced driver assistance systems (ADAS)
SEOUL, January 18, 2023 – Hyundai Motor Company today revealed details about its new generation KONA subcompact SUV for Korea, with information about the global model coming in March. The upscaled model is available in multiple powertrain variants, including all-electric (EV), hybrid electric (HEV) and internal combustion engine (ICE) with sporty N Line versions of each.
The development of the upscaled, futuristic all-new KONA started with the EV model — an unconventional approach for car design that reflects Hyundai Motor’s accelerated electrification strategy. In all of its variants, the all-new KONA is brimming with the latest technologies, comfort and convenience features.
“We make a KONA for practically everyone and every lifestyle, with a range of advanced powertrains and a host of technologies and design features that will add value to our customers’ daily lives,” said Heui Won Yang, Executive Vice President, Head of Total Vehicle Development Tech Unit at Hyundai Motor Company. “Hyundai is committed to providing an optimized mobility experience to satisfy the varied lifestyles of our customers.”
Design elements that add sporty style and enhance performance
From its shark nose to tailgate, the front and rear Seamless Horizon Lamps give the new model a harmonious and unique appearance for each variant. The EV variant is further differentiated by its Pixelated Seamless Horizon Lamps and is the first Hyundai model to apply this iconic design flourish.
The SUV’s sporty character is embodied by rugged wheel arch cladding with integrated front and rear lamps, side panels with dynamic wedge proportions and characteristic chrome molding that runs from the belt line to the spoiler. Its specially designed spoke 19-inch wheel design is a first for KONA.
The ICE and HEV variants carry over many of the EV’s design characteristics with a distinctive twist. The front bumper is distinguished by a three-dimensional garnish and skid plate instead of a radiator grill. The ICE and HEV variants also add contrasting black wheel arch cladding for emphasis.
The HEV variant uses upper and lower active air flaps (AAF), and the ICE variant has an upper active air flap for a drag coefficient improvement. The exterior active air flap conveys an EV-like appearance to the ICE and HEV while improving aerodynamic performance of both variants.
The performance-inspired N Line variant adds more aggressive front and rear designs with wing-shaped bumper, twin muffler and silver side skirt to emphasize its sporty image. Additional options include a black roof and 19-inch N Line exclusive alloy wheel design. Inside, the N Line variant is equipped with exclusive metal pedals and N-brand gear shift (TGS) lever.
Bigger and smarter interior space
The all-new KONA provides roomier, more versatile interior space for increased passenger comfort and easy cargo storage. The all-new KONA also provides the best-in-class space with 60 mm longer wheelbase length, 77 mm longer leg room and 11 mm higher headroom in the second-row seats, compared to the previous generation. The second-row shoulder room is 1,402 mm, also the largest in its class, providing the best habitability in ‘living space’ for passengers. KONA’s slim and rigid seats, which are only 85 mm thick, also add more living space for the second-row passengers.
In addition, the column-type electric shift-by-wire gear selector set behind the steering wheel allows more space for an open, clean console structure that can be used for cupholders or storage for big bags. The fully foldable second-row seat and rear compartment provide up to 723 liters (based on SAE) of cargo space to meet the highest level of customer needs with improved loading convenience.
The 12.3-inch integrated dual screen display supports ergonomically comfortable use, while the first-row’s relaxation comfort seat option is optimized for ‘weightless’ body pressure distribution to help alleviate fatigue after long-haul driving.
Best-in-class technologies to provide more convenience
The new generation KONA’s maintenance and system updates are easier than ever with electronic control technology through Over-the-Air (OTA) software updates. This allows car owners to save on cost and have their cars maintained with the latest software, providing an upgradable experience. Ambient light is also supported by OTA updates for maintenance and new features.
The customizable smart power tailgate opening is an added convenience for customers. Drivers can select the opening height and speed of the tailgate on the infotainment system screen as well as by pressing the close button for three seconds at the preferred height of the tailgate.
In addition, KONA’s integrated memory system for seat position settings and multiple charging ports, including the wireless charging system, also provide more convenient experiences. As part of the electronic control technology, the all-new KONA can be locked, unlocked and started through the Digital Key 2 Touch, using near-field communication (NFC) on smart phones or smart watches, which assures a high level of security.
More assured safe driving with all-new KONA
The all-new KONA brims with various advanced driver assistance systems (ADAS), such as Forward Collision-avoidance Assist (FCA), Lane Keeping Assist (LKA), Blind-Spot Collision Avoidance Assist (BCA), Safe Exit Warning (SEW), Intelligent Speed Limit Assist (ISLA), Driver Attention Warning (DAW) and Blind-spot View Monitor (BVM) and High Beam Assist (HBA)*. It also equipped with various driving convenience functions, such as Smart Cruise Control (SCC), Navigation-based Smart Cruise Control (NSCC), Lane Following Assist (LFA) and Highway Driving Assist (HDA)*.
For safe-assured parking, the all-new KONA provides various advanced technologies, such as Surround View Monitor (SVM), Rear Cross-Traffic Collision-Avoidance Assist (RCCA), Forward/Side/Reverse Parking Distance Warning (PDW), Reverse Parking Collision-Avoidance Assist (PCA) and Remote Smart Parking Assist (RSPA)*.
Dimensions by variant:
Item
All-new KONA ICE/HEV
All-new KONA EV
Length
4,350 mm
will be disclosed in March
Width
1,825 mm
Height
1,580 mm(equipped with 17-inch tires)
Wheelbase
2,660 mm
Powertrain options
For Korean customers, the ICE variant is available with a choice of either a 1.6T-GDi or 2.0L Atkinson engine. The 1.6T-GDi generates an estimated 198 ps and up to 265 Nm of torque. Continuously variable valve duration regulates valve opening according to driving conditions. The 2.0L engine produces an estimated 149 ps and up to 179.5 Nm of torque, paired with an Intelligent Variable Transmission (IVT) for maximum efficiency.
The HEV variant available in Korea is powered by a specially calibrated 1.6-L GDi direct injection engine paired with an electric motor that delivers impressive acceleration and high efficiency with a combined output of 141 ps and up to 265 Nm of torque.
More details about the all-new KONA for global markets, including the EV, will be disclosed in March.
* Availability of specifications and options described in the release may vary by trim, variant and market.
