Latest news with #Mahasneh
Jordan News
3 days ago
- Business
- Jordan News
Water Loss Reduced to 46.5% as Sector Progress Reviewed Under Economic Vision - Jordan News
Water Loss Reduced to 46.5% as Sector Progress Reviewed Under Economic Vision Chairman of EDAMA Association and water expert Dureid Mahasneh confirmed that the Ministry of Water has successfully reduced water loss from 51.7% (2021–2022) to 46.5% (2023–2024) over the past three years, urging continued efforts to further lower the rate in the coming period. اضافة اعلان Speaking during the second-phase workshops of the Economic Modernization Vision, held to evaluate progress three years after its launch under Royal directives, Mahasneh noted that the sessions are meant to review achievements made so far. In the second session, which focused on the water sector, Mahasneh said the discussion aimed to offer recommendations for sector development, address water resource security and management, reduce losses, and maintain water quality. He highlighted that the workshop also examined several key challenges, including water scarcity, water security, resource security, climate change, and forced migration, which continues to place heavy pressure on Jordan's water resources. It is worth noting that a previous report incorrectly stated the water loss rate as 49%, while the accurate figure is 46.5%.
Roya News
4 days ago
- Politics
- Roya News
Can Jordan's deal with Syria help solve its water poverty?
Dr. Duraid Mahasneh, head of the EDAMA Association for Water and Energy, said Sunday that the 'true turning point' in the water-sharing agreement for the Al-Wehda and Yarmouk Dams with Syria lies in the intentions of both parties, rather than the figures discussed so far. Syrian Violations Drastically Cut Jordan's Water Share Speaking to Roya, Mahasneh said that Syrian transgressions in the Yarmouk basin between 2005 and 2010 significantly reduced Jordan's water allocation. Despite the Al-Wehda Dam capacity to store 300 million cubic meters, Jordan has received only 20 to 26 million cubic meters annually in recent years. Mahasneh described the new preliminary water-sharing agreement as a welcome and positive step, but he stressed that the fundamental issue is the non-implementation of the 1987 agreement. That accord stipulated the permissible number of dams and wells on the Syrian side of the basin. Discrepancy Between Agreements and Reality Mahasneh pointed out that Syria is drastically different, with over 42 dams now constructed and numerous wells drilled extensively, severely impacting Jordan's water share. He also highlighted Syria's agricultural shift from grain cultivation to irrigated farming, which led to increased water extraction from shared dams, further diminishing Jordan's supply. He explained that in good rainfall years, the Al-Wehda Dam used to provide Jordan with around 400 million cubic meters of water, a figure that has plummeted to below 50 million cubic meters in recent years. Jordan's Vulnerability and Call for Fairer Agreement Regarding Jordan's inability to increase its water share as Syria has, Mahasneh clarified that the basin's water primarily originates from the Syrian side, not the Jordanian. He said that a fair new agreement between the two countries is essential, given Syria's multiple other water sources and Jordan's severe water scarcity. Despite some optimism that the new agreement might resolve Jordan's water crisis, Mahasneh cautioned that it alone would not fully address the problem, noting that Jordan's vital National Carrier project, while important, is insufficient to meet the Kingdom's water needs.
Crypto Insight
07-05-2025
- Business
- Crypto Insight
OKX exec warns against hype amid real-world asset tokenization boom
The CEO of crypto exchange OKX's Middle East and North Africa (MENA) division has called on the industry to prioritize real-world utility as interest in tokenizing real-world assets (RWAs) continues to grow. In a Cointelegraph interview at the Token20249 event in Dubai, OKX MENA CEO Rifad Mahasneh warned that while tokenization is promising, projects must 'clearly demonstrate' the benefits of tokenizing specific assets. 'In some cases, we're tokenizing things that don't need tokenization, but in some cases, we're tokenizing things that actually give you real, everyday value, right? And if you can see that everyday value, then that is a promising project,' Mahasneh told Cointelegraph. He said hype can drive project growth in the Web3 space, but providing everyday value should be the priority. RWA tokenization gains traction in the UAE Mahasneh's comments come amid an increase in real-world asset tokenization projects in the Middle East, including the United Arab Emirates. On May 1, MultiBank Group signed a $3 billion RWA agreement with the UAE-based real-estate firm MAG and blockchain infrastructure provider Mavryk — the largest RWA initiative worldwide to date. In addition to billions in RWA deals, the UAE government has started working on RWA tokenization. On March 19, the Dubai Land Department — the government agency responsible for promoting, organizing and registering real estate in Dubai — announced a pilot phase of its real-estate tokenization project. The agency is working with Dubai's Virtual Assets Regulatory Authority (VARA), the emirate's crypto regulator. On Jan. 9, RWA project Mantra also signed a $1 billion deal with Damac Group to tokenize the assets of the UAE-based conglomerate. However, months later, Mantra saw one of the biggest token collapses in crypto history, wiping out billions in market capitalization on April 13. Mahasneh told Cointelegraph that the region's clear regulations help drive bigger institutions to get into tokenization and crypto. He said regulatory clarity allows understanding of how key players in the space, like exchanges, are governed. UAE stablecoin framework gives institutions confidence The executive also praised the region's progress in stablecoin regulations. In June 2024, the Central Bank of the UAE approved a regulatory framework for stablecoin licensing. This clarified the issuance, supervision and licensing of dirham-backed payment tokens. According to Mahasneh, this demonstrates the UAE's speed in regulating crypto-related technologies. The executive also highlighted that the central bank's involvement gives institutions extra confidence in entering the business. 'Other markets are still debating whether they should have crypto regulations. Here, we moved into developing stablecoin regulations. For an investor, you want to know that your stablecoin is regulated. That's a big plus,' Mahasneh said. Since then, major players like Tether have joined the race by issuing a dirham-pegged stablecoin. On April 29, institutions like Abu Dhabi's sovereign wealth fund, the Abu Dhabi Developmental Holding Company (ADQ), First Abu Dhabi Bank and the International Holding Company partnered to launch a dirham-pegged stablecoin, pending regulatory approval. Source:
