logo
Mohammed bin Rashid meets with Prime Minister of Montenegro

Mohammed bin Rashid meets with Prime Minister of Montenegro

Al Etihad29-03-2025

29 Mar 2025 22:31
DUBAI (ALETIHAD)His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, on Saturday received Milojko Spajić, Prime Minister of Montenegro, who is currently on a working visit to the UAE.The meeting between the two leaders explored new avenues to strengthen relations between the UAE and Montenegro, building on recent progress in advancing strategic cooperation across key sectors.Discussions focused on further expanding economic ties, boosting investment flows, and enhancing collaboration in areas such as renewable energy, food security, infrastructure, technology, and tourism.Welcoming the Montenegrin Prime Minister and his delegation, H.H. Sheikh Mohammed bin Rashid expressed the UAE's commitment to deepening partnerships that support shared development goals. He highlighted the UAE's keenness to work with Montenegro on initiatives that foster innovation, sustainability, and exchange of knowledge and expertise.The two leaders also reviewed global and regional developments, and highlighted the importance of collective action to ensure peace and stability and address issues like climate change, sustainable energy development, and global economic resilience.H.H. Sheikh Mohammed bin Rashid commended the momentum in relations gained through bilateral agreements signed between the two countries during the Prime Minister's current visit to the UAE that are set to boost mutual economic growth, tourism and investment, bringing benefits to the people of both nations.Prime Minister Milojko Spajić expressed Montenegro's keenness to deepen engagement with the UAE in sectors of mutual interest and to tap into emerging opportunities that align with the economic ambitions of both nations.The UAE and Montenegro have enjoyed steadily growing relations since the establishment of diplomatic ties in 2008. Recent initiatives have opened new avenues for strategic collaboration, with both public and private sectors contributing to stronger ties between the two economies.
The meeting was attended by H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai; H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chief Executive of Emirates Airline and Group; Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs; Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation; and Mohammed Ibrahim Al Shaibani, Director-General of H.H. The Dubai Ruler's Court.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

UAE's new climate law sparks future-proof economic growth –experts
UAE's new climate law sparks future-proof economic growth –experts

Al Etihad

time6 hours ago

  • Al Etihad

UAE's new climate law sparks future-proof economic growth –experts

8 June 2025 23:58 MAYS IBRAHIM (ABU DHABI) Businesses across the UAE are adjusting to new sweeping climate compliance requirements under Federal Decree-Law No. (11) of 2024, now officially in effect. The law mandates all entities operating in the UAE, including those in free zones, to measure, track, and manage their greenhouse gas (GHG) emissions. A one-month grace period, ending on June 28, was granted for registration and initial compliance. Cabinet Resolution No. 67 of 2024 details the specific thresholds and implementation requirements under the law. It defines 'entities of huge carbon emissions' as those emitting an equivalent of at least 500,000 metric tonnes of carbon dioxide annually (Scope 1 and 2). These entities are required to register with the National Registry of Carbon Credit (NRCC) and implement full Monitoring, Reporting, and Verification protocols( MRV).Failure to comply with the UAE Climate Change Law may result in financial penalties of up to Dh1 million and temporary business suspension until all requirements are met. However, experts say businesses should look beyond penalties and recognise the legislation as a launchpad for innovation and future-proof growth. 'The law's comprehensive approach, combining regulation, market-based incentives, and innovation support, positions the UAE to lead the region in green economic transformation,' Amro Zakaria, Co-founder of Kyoto Network and CEO of Madarik Ventures, told Aletihad. 'It not only helps future-proof the economy against climate risks but also unlocks new opportunities for sustainable growth, investment, and job creation,' the global financial markets strategist added. Creating New Growth Vectors Nahla Nabil, an ESG and Sustainability Strategist, views this new law as an economic blueprint for diversification - one that creates new growth vectors while protecting existing ones.'What excites me most is that the law is sending strong signals to both sides of the market,' she told Aletihad. 'On the supply chain, it's driving innovation: carbon capture, clean tech, nature-based solutions. All of these are moving from nice-to-have to must-have. On the demand side, businesses now urgently need climate expertise, advisory services, and MRV systems and that's where I see an explosion in new jobs and opportunities,' Nabil said. She noted that UAE educational institutions are already developing programmes around climate risk and emissions management, laying the groundwork for a future-ready, knowledge-based economy.'The law also lays the foundation for a national carbon market. If done right, the UAE could lead the region in green finance not just meeting targets but setting the benchmark,' said Nabil. She also pointed out that as global regulations like the EU's Carbon Border Adjustment Mechanism (CBAM) come into effect, having verified emissions data becomes a matter of trade resilience, not just good governance. While some companies may limit themselves to basic compliance, Nabil argued that those that thrive will be the ones exploring how the law can create value and drive innovation.'The law gives us direction, from tracking emissions to exploring cleaner operations. But it's not just about rules. It's about clarity. When we know where we're heading, it's easier to make smart, future-focused decisions.' Expanding Impact According to Nabil, companies that are ready to move beyond compliance should focus on emissions hotspots to identify innovation potential, engage early in carbon credit systems, and support customers in reducing their emissions to expand the impact of their climate strategies. Zakaria pointed out that the law encourages research and development (R&D) and innovation, offering incentives for the private sector to develop climate solutions, such as clean energy, carbon capture, and alternatives to high-emission materials. Companies can also engage in carbon trading, turning emissions reductions into financial assets and new revenue streams, he added. 'Research has proven that companies that have an ESG strategy and an environmentally conscious mindset are generally more profitable. One reason for that is that the cost of capital (finance rates) is lower for projects with lower carbon intensity,' Zakaria said. Over time, he added, compliance with this law will help UAE firms reduce their carbon footprint, positioning them for better access to international markets that may soon be out of reach for high carbon foot print companies and high carbon intensity Beyond EmissionsAccording to Zakaria, the law introduces several market-based tools to support implementation, including Carbon Credit Market/ETS, Carbon Offsetting and Shadow Pricing, Technology Adoption Incentives, Green Tax Incentives, Sustainable Finance Frameworkm, and Performance pointed to the law's alignment with international climate frameworks, without losing sight of national priorities.'Post-COP28, it's clear the UAE isn't just pledging alignment with the Paris Agreement it's embedding it. The law reinforces our Nationally Determined Contributions and puts in place the systems to act on them,' she said. 'The National Carbon Credit Registry is also a forward-looking move, signalling readiness for Article 6 and future participation in global carbon markets not just keeping pace, but helping shape what's next.'From an ESG standpoint, Nabil said the law reflects global standards like TCFD (Task Force on Climate-related Financial Disclosures) and the GHG Protocol, offering a robust foundation for environmental reporting. While the current focus is on emissions, she expects broader governance and risk disclosures aligned with GRI and ISSB to follow.'That evolution feels natural, and the UAE's approach has been open and adaptive. The real progress will come with implementation and I'm optimistic we're heading toward even deeper global alignment.' Nabil views this law as a foundational step in a broader ESG (Environmental, Social, and Governance) shift.'At first glance, it may seem like the law is mostly focused on emissions and the environment - the 'E' in ESG. But when you read deeper, you realise it's more than that. This is a framework law,' she said. 'It's meant to be built on, with future ministerial resolutions, technical guidelines, and sector-specific policies that will gradually define the full ESG landscape.'Nabil points to Article 7 on climate adaptation, which moves beyond environmental metrics to address health systems, infrastructure resilience, early warning systems, and inter-agency coordination - elements that touch on both social and governance priorities. 'Even the definitions section makes it clear: climate impacts are not just about nature, they include effects on lives, health, economies, and culture,' she explained. 'The law sets the stage for ESG reporting that is people-centred, risk-aware, and impact-driven.'

Presidents of UAE, Angola explore cooperation opportunities
Presidents of UAE, Angola explore cooperation opportunities

Al Etihad

time7 hours ago

  • Al Etihad

Presidents of UAE, Angola explore cooperation opportunities

8 June 2025 22:07 ABU DHABI (WAM) President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a phone call with His Excellency João Manuel Lourenço, President of the Republic of Angola, during which they discussed cooperation between the UAE and Angola and explored ways to strengthen ties in support of development priorities and the shared goal of sustainable growth and Lourenço also extended Eid Al-Adha greetings to His Highness, wishing him continued health and two leaders discussed a number of issues of mutual interest and exchanged views on regional and global matters. They reaffirmed their shared commitment to advancing cooperation between the UAE and African nations, particularly in the fields of development and economic partnership, in ways that support stability, promote sustainable economic growth, and help realise the aspirations of their peoples. His Highness Sheikh Mohamed bin Zayed reiterated the UAE's commitment to enhancing development cooperation with African countries, in line with its longstanding approach to building constructive and impactful partnerships that contribute to shared progress and prosperity.

Ministry of Economy, Dubai Police partner to strengthen cooperation
Ministry of Economy, Dubai Police partner to strengthen cooperation

Gulf Today

time8 hours ago

  • Gulf Today

Ministry of Economy, Dubai Police partner to strengthen cooperation

The Ministry of Economy has signed a Memorandum of Understanding (MoU) with Dubai Police General Command to strengthen cooperation and coordination in developing compliance mechanisms for anti-money laundering (AML) and combatting the financing of terrorism (CFT) requirements. The agreement facilitates the exchange and integration of information between the two entities, thus enhancing supervisory roles within the national legislative framework. The MoU was signed on the sidelines of the fourth edition of the World Police Summit, held at the Dubai World Trade Centre under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The agreement was signed by Safia Hashim Al Safi, Assistant Undersecretary for Commercial Control and Governance at the Ministry of Economy, and Major General Expert Khalil Ibrahim Al Mansoori, Assistant Commander-in-Chief for Criminal Investigation Affairs at Dubai Police. Safia Al Safi emphasised that the UAE has made significant strides in developing advanced strategies, policies, and legislation to combat money laundering and terrorism financing in line with the highest international standards. This has further reinforced the national economy's position as a competitive trade and business hub committed to the highest standards of integrity and transparency. He noted that the partnership with Dubai Police aligns with the Ministry's vision to enhance collaboration with federal and local entities, thereby strengthening the national framework and developing mechanisms to combat financial crimes and enhance regulatory infrastructure in accordance with relevant international standards. Safia Al Safi explained that the MoU establishes a sustainable institutional framework between the Ministry and Dubai Police to collaborate on various AML/CFT procedures within the country, including control, inspection, and monitoring of illicit activities. This partnership aims to elevate the efficiency of control and follow-up systems and serves shared objectives in combating financial crimes within the country. Press Release Supporting national efforts Major General Expert Khalil Al Mansoori said: 'The MoU with the Ministry of Economy is a significant milestone in enhancing institutional integration among relevant entities involved in combating financial crimes. Dubai Police is committed to supporting national efforts to counter money laundering and combat terrorism financing by advancing its technical and human competencies. We aim to leverage Dubai Police's research, investigation, and financial analysis ecosystems to develop effective, proactive mechanisms for detecting suspicious activities and enhancing rapid responses to associated risks, in line with global best practices. This plays a role in reinforcing the UAE's position as a secure and transparent global economic hub.' He further emphasised that the collaboration marks a significant step forward in integrating national efforts and unifying resources and expertise to develop more precise and effective regulatory tools, while continuing to invest in national talent and smart technologies to build a safer and more stable environment. Counselor Salem Al Tunaiji, Director of the Anti-Money Laundering and Counter-Terrorism Financing Department at the Ministry of Economy, explained that the MoU provides advanced mechanisms for technical and security coordination between the Ministry and Dubai Police. This includes the exchange of data related to money laundering and terrorism financing crimes, aligning with the Ministry's role in supervising Designated Non-Financial Businesses and Professions (DNFBPs) and identifying the real beneficial owners of legal entities. Under the scope of the MoU, both parties will collaborate on developing integrated mechanisms and programs to elevate risk response efficiency related to suspicious financial activities within the DNFBP sector, which include real estate agents and brokers, traders of precious metals and stones, auditors, and company service providers. This will be realised through the exchange of data on suspicious transactions and activities and the activation of secure and effective institutional communication channels to ensure the swift exchange of confidential data in line with the approved legal and regulatory frameworks. These efforts support their awareness endeavours to prevent and deter violators, in line with the applicable legislations and regulations in the UAE. The MoU also outlines the implementation of joint training programs and specialised workshops aimed at enhancing the professional competencies of both parties' staff and the development of periodic analytical reports to support decision-making, ensuring the comprehensive application of administrative and regulatory procedures. Additionally, the MoU includes provisions to support awareness and media campaigns related to institutional compliance and financial crime prevention, as well as collaboration in developing relevant policies and legislation and reviewing regulatory frameworks to ensure their alignment with international requirements. Meanwhile, the Abu Dhabi Judicial Department (ADJD) organised the 'Eid Joy' initiative, which brought together well-behaved inmates of correctional and rehabilitation centres with their families in a festive atmosphere on the occasion of Eid Al-Adha.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store