By WAM
DUBAI, Sep 4 2018 (WAM)
Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, announced the launch of eight new oil listings on Monday, following completion of the regulatory review.
Among the new products offered by DME is the Oman Crude Oil/Platts Dubai Crude Oil Futures contract (code DOP) which helps customers match their hedging exposure for crude from Saudi Arabia, the world’s largest exporter of crude oil. Saudi Aramco recently announced it is changing the way it calculates its Official Selling Price (OSPs) from 1 October, 2018, which will take the monthly average of DME Oman and Platts Dubai – creating a hybrid between the two major Asia benchmarks.
To complement the new crude oil hedging tool, DME is also listing the Oman/Dubai contract as a spread versus Brent futures and Asian refined products.
The new listings will complement DME’s current suite of products, which includes the flagship Oman Futures contract, along with Dubai and Brent/Dubai futures.
Ahmad Sharaf, Chairman of DME, said,”The new listings are the next step in the natural evolution of the DME and exchange-traded products across the Asian markets, helping customers to hedge physical pricing exposure on both crude oil and refined products.”
WAM/Tariq alfaham/Hatem Mohamed
The post DME launches eight new oil contracts appeared first on Inter Press Service.
Rohingya alight from a boat as they arrive at Shahparir Dip in Teknaf, Bangladesh in 2017. Credit: IPS
By Tharanga Yakupitiyage
UNITED NATIONS, Sep 4 2018 (IPS)
After the release of a scathing report on Myanmar’s human rights violations, next steps to achieve accountability and justice remain elusive and uncertain.
A year after the re-escalation of violence that forced almost a million people to flee to neighbouring countries, a fact-finding mission found a “human rights catastrophe” in Myanmar.
“The gross human rights violations and abuses committed in Kachin, Rakhine and Shan States are shocking for their horrifying nature and ubiquity,” the report states.
“Many of these violations undoubtedly amount to the gravest crimes under international law,” it continued.“The U.N. system really failed the people of Myanmar particularly the Rohingya by treading softly.” -- Human Rights Watch’s U.N. Director Louis Charbonneau
Triggered by insurgent attacks on security forces, the report pointed a finger to Myanmar’s military, known as the Tatmadaw, for committing the gravest of crimes including indiscriminate killing, burning of houses, and sexual violence.
The investigators identified six generals, including the commander in chief of the Tatmadaw Senior General Min Aung Hlaing, and recommended that they be prosecuted at the International Criminal Court (ICC) or at an alternative tribunal.
“There needs to be an unequivocal message sent that Myanmar’s military cannot act with impunity against ethnic minorities in Myanmar again,” Amnesty International’s Asia Advocacy Manager Francisco Bencosme told IPS.
“Never again has to mean never again – and the entire world is watching to see what the international community does,” he continued.
Like Bencosme, Human Rights Watch’s U.N. Director Louis Charbonneau also told IPS that the Security Council should refer the situation in Myanmar to the ICC or create a special criminal tribunal for prosecution.
But how did we get here?
Years of systematic oppression against Myanmar’s ethnic minorities made the crisis “foreseeable”—so what happened?
A System-Wide Failure
In 2008, the U.N. failed to heed warnings of increasing violence between the Sri Lankan military and the Liberation Tigers of Tamil Eelam (LTTE) and did not report evidence of widespread government violations and casualties.
A 2012 internal review found that various U.N. agencies including the Security Council failed at every level to protect civilians and meet their responsibilities in the last months of the civil war in the South Asian nation.
In the wake of the fiasco, the U.N. implemented the Human Rights Up Front Initiative to ensure a better system of monitoring and responding to international crises. Though Myanmar was identified as a situation requiring the Action Plan’s human rights response to crises, the approach was rarely, if ever, used, the report stated.
Instead, U.N. agencies continued to prioritise development goals, humanitarian access, and quiet diplomacy—an approach which “demonstrably failed.”
“The U.N. system really failed the people of Myanmar particularly the Rohingya by treading softly,” Charbonneau told IPS.
“Now instead of us saying ‘never again’ after Sri Lanka, Rwanda, Srebrenica—here we are saying well yet again it happened. The U.N. didn’t do what it was supposed to be doing, it didn’t raise the alarm bells to the extent that they could have,” he continued.
The Security Council’s response, or lack thereof, has been equally disappointing. The U.N. organ has had only a handful of meetings on Myanmar and none have resulted in any resolution.
In contrast, Syria has received special attention over the last seven years with numerous meetings in the “triple digits.”
“Given the scale of the crisis in Myanmar, it is difficult to reconcile the different responses of the Security Council particularly given a situation where the U.N. for sometime has been warning about the possibility of the ‘g’ word that is genocide,” Charbonneau said.
“It would be good to see an attempt to really push the Council to try something. We haven’t seen that yet and I don’t know if we will see it,” he continued.
China and Russia, Security Council members with veto power, have consistently pushed back on efforts to act on Myanmar’s crisis, stating that the crisis should only be resolved by the parties directly affected including Bangladesh where over 700,000 Rohingya refugees have fled to.
In the Security Council’s first open meeting on Myanmar in eight years, Russia’s ambassador Vasily Nebenzya warned against claims of ethnic cleansing and blaming Myanmar’s authorities as it “will make it more difficult to achieve lasting interethnic peace inside the country.”
Whether it is genocide or crimes against humanity, Bencosme highlighted the need for the international community to act with respect to Myanmar.
“We don’t need a legal diagnosis to understand that something desperately tragic and clearly unlawful has been happening in Myanmar. What matters most is that a civilian population is under attack because of its race or religion, and that these violations must stop immediately,” he told IPS.
Myanmar has repeatedly denied accusations of violations including those most recently published through the fact-finding mission’s report.
“Myanmar authorities have shown themselves to be both unable and unwilling to investigate and prosecute those responsible. As a result, the ICC is the appropriate route to deliver justice,” Bencosme said.
However, since Myanmar is not a member of the ICC, only a member of the Security Council can bring the case to the tribunal.
“The time for rhetoric is over – there needs to be action. There needs to be genuine accountability and justice. There needs to be an honest conversation about referring the situation to the International Criminal Court. We need to pursue all avenues of justice for these victims and their families who are the heart of the crisis,” Bencosme concluded.
Urgent Action Needed
While Charbonneau expressed hope that the new report will “reenergise” the U.N., he noted that we should not idly wait.
“I don’t think we should be waiting around for the Security Council—too often the Council doesn’t move on issues and it’s more deadlock than ever these days. We may have to keep using these work-arounds like the General Assembly and the Human Rights Council,” he told IPS.
Among the alternative avenues for action is the establishment of an impartial mechanism by the Human Rights Council or General Assembly to collect, analyse, and preserve evidence for future potential criminal proceedings in the ICC or another criminal tribunal.
The report also recommends that the U.N. urgently adopt a common strategy to address human rights concerns in Myanmar in line with the Human Rights Up Front Action Plan, as well as a comprehensive inquiry into whether the U.N. did everything possible to prevent or mitigate Myanmar’s crisis.
“The time has past for these feeble condemnations or expressions of concern that we are so used to from the U.N.—we just really need action,” Charbonneau said.
Related ArticlesThe post “We Should Not Wait” — Action Needed on Myanmar appeared first on Inter Press Service.
António Guterres, Secretary-General of the United Nations, in an address to the China-Africa Cooperation Summit in Beijing
By António Guterres
BEIJING, Sep 3 2018 (IPS)
This Forum on China-Africa Cooperation is an embodiment of two major priorities of the United Nations: to pursue fair globalization and to promote development that leaves no one behind in the context of a rules-based system of international relations supported by strong multilateral institutions.
António Guterres
China has achieved remarkable development progress in recent years, with an unprecedented reduction in poverty, and I commend its commitment to sharing its successes through different initiatives and namely the Belt and Road.Africa, too, has made dramatic advances, and hosts some of the world’s most dynamic economies. Together, China and Africa can unite their combined potential for peaceful, durable, equitable progress to the benefit of all humankind.
It is important that current and future development cooperation contributes to peace, security and to building a “community of shared future for mankind.”
China and Africa have strengthened their relationship in recent years, enjoying growing mutual trust and exchanges at all levels.
Development cooperation is increasing, based on the two mutually compatible roadmaps: the United Nations 2030 Agenda for Sustainable Development and the African Union’s Agenda 2063.
I commend this engagement. Cooperation, based on the principles of the UN Charter, can benefit your peoples and can benefit the international community as a whole.
And allow me to mention five areas that will be crucial for the success of this very important partnership.
First, reinforcing the foundations of Africa’s progress. Stronger cooperation between China and Africa can lead to sustainable, environmentally-friendly and resilient development in Africa that is inclusive, reaching first those people that are furthest behind. Financial and technological support for infrastructure development is critical.
So is building capacity on trade as African countries start to realize the potential of the landmark Continental Free Trade Area. And they’re also ready to support the strengthening national data systems to help African countries formulate policy and drive decision-making.
Second, ensuring national ownership and African-led sustainable development.
In the past year, the United Nations has agreed joint frameworks with the African Union on Peace and Security and on supporting Agenda 2063.
These frameworks are based on our commitment to be a steadfast and trusted partner of Africa, with full respect for Africa’s stewardship of its own future.
The China-Africa partnership echoes this collaborative approach to create not just immediate gains but long-lasting value.
And we are ready to support the strengthening of governance and institutional capacities in African countries to ensure country ownership and leadership that fully responds to the needs and aspirations of Africa’s people.
Of particular concern are education and job opportunities for young people, and equality and empowerment for the continent’s women and girls.
Third, deepening South-South cooperation.
I believe this Summit will contribute to preparations for the United Nations Conference on South-South Cooperation in Buenos Aires next year.
South-South cooperation is fundamental for fair globalization. But the dramatic increase in South-South cooperation does not eliminate the need to implement North-South commitments, including those assumed in the context of the Addis Ababa Action Agenda.
We need to ensure that cooperation paves the way for Africa’s economic vitality and greater trade, both at regional and global levels.
Partnership for sustainable development must also give more space for African voices, innovations and perspectives in global development discourse around the world.
Fourth, promoting sustainable fiscal policies.
United Nations Country Teams are fully committed to supporting African nations to seize their full potential of their cooperation with China.
At the same time, we all need to work together to guarantee the financial sustainability of African development.
Sound fiscal policies are an essential pillar for sustainable development. It is imperative that we support Africa to both preserve and create fiscal space for investments.
That includes a concerted global effort to combat tax evasion, money laundering and illicit financial flows allowing to contribute to the success to the strong African commitment to fight corruption as agreed at the African Union Summit in early January 2018.
Fifth, climate change.
Climate change is an existential threat. A sustainable future for China, Africa and the world means climate-friendly and climate-resilient development as it was underlined today by President Xi Jinping.
As we are increasingly aware, climate change and environmental degradation are risk multipliers, especially for fragile states and vulnerable regions.
China is today a global leader in climate solutions.
It is important that it shares its advances with Africa to enable the continent to leapfrog traditional polluting development in favour of green growth.
And also ,to support Africa in adapting to climate change and in building resilience to the impacts that Africans have done so little to cause.
This Summit exemplifies the win-win collaboration that is necessary for the future we want.
The United Nations will continue to support the China-Africa Partnership and more broadly, South-South cooperation, so that all nations – in Africa and beyond – may enjoy sustainable and inclusive development.
The post China-Africa Cooperation a Vibrant Partnership for Sustainable Development appeared first on Inter Press Service.
Excerpt:
António Guterres, Secretary-General of the United Nations, in an address to the China-Africa Cooperation Summit in Beijing
The post China-Africa Cooperation a Vibrant Partnership for Sustainable Development appeared first on Inter Press Service.
By WAM
DUBAI, Sep 3 2018 (WAM)
Dubai Electricity and Water Authority, DEWA, has launched Green Dubai, which includes three initiatives that will help make Dubai the smartest, happiest and most sustainable city in the world. The move supports DEWA’s efforts to empower customers to make sustainable decisions that contribute to protecting the environment and natural resources.
In its first phase, Green Dubai will include Shams Dubai initiative, which encourages building owners to install photovoltaic solar panels and connect them to DEWA’s grid. To date, DEWA has connected over 1,145 buildings to Dubai’s power grid with a capacity of nearly 50MW.
"Green Dubai aims to empower customers to adopt a conscious and responsible lifestyle through the sensible use of electricity and water"
Saeed Mohammed Al Tayer, MD & CEO of DEWA
Green Dubai also includes the Green Charger initiative to install Electric Vehicle (EV) charging stations. DEWA has installed over 100 Green Chargers across Dubai and is working to increase the number to 200 stations by end of 2018. To encourage customers to use eco-friendly electric vehicles, DEWA provides free charging for electric cars registered in the Green Charger initiative until the end of 2019.
‘High Water Usage Alert’, the third initiative under Green Dubai, helps customers discover possible leaks in their water connections, after the meter. The system sends instant notifications to the customer if there are any unusual increases in consumption, which helps the customer to check the internal connections and repair any leaks, with the help of a specialised technician. This contributes to reducing incurred costs by limiting water wastage.
Saeed Mohammed Al Tayer, MD & CEO of DEWA, said, “Green Dubai aims to empower customers to adopt a conscious and responsible lifestyle through the sensible use of electricity and water. This supports the Demand Side Management Strategy to reduce electricity and water use by 30% by 2030, generating clean solar energy, and encouraging the use of eco-friendly electric vehicles. Environmental work requires concerted efforts to achieve a balance between development and the environment, to protect the rights of future generations to enjoy a clean, healthy, and safe environment.
“Through Digital DEWA, the digital arm of DEWA, we are redefining the concept of a utility to create a new digital future for Dubai. DEWA will disrupt the entire business of public utilities by becoming the world’s first digital utility using autonomous systems for renewable-energy and its storage, expansion in Artificial Intelligence adoption, and digital services. We aim to promote sustainable development in the UAE, whereby sustainability becomes a way of life, ensuring a brighter and more sustainable future for generations to come.”
WAM/Esraa Ismail
The post DEWA launches Green Dubai to empower customers to make sustainable decisions appeared first on Inter Press Service.
By WAM
ABU DHABI, Sep 3 2018 (WAM)
The third annual Atlantic Council Global Energy Forum will be held in Abu Dhabi on 12th and 13th January, 2019, again kicking off Abu Dhabi’s Sustainability Week.
The two-day event gathers international and regional political, industry, and thought leaders to set the global energy agenda for the year and examine the longer-term geopolitical and geo-economic implications of the changing energy system.
The conference agenda this year will focus on the future of oil, the digitisation of energy, diversification in energy companies and countries, and will have a regional focus on East Asian energy demand and energy innovation. Last year’s event brought over 450 people to Abu Dhabi from around the world, including CEOs, Ministers, global media, and industry experts.
The forum will once again be hosted under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. It will be convened in partnership with the Ministry of Energy, Abu Dhabi National Oil Company (ADNOC), and Mubadala Investment Company, and is part of Abu Dhabi Sustainability Week.
Suhail Al Mazrouei, Minister of Energy and Industry, said, “The Global Energy Forum looks at the importance of all forms of energy: nuclear, oil, gas, renewable, and others. The diversity among its subjects and experts is what makes the Forum an important part of the energy calendar.”
Frederick Kempe, President and CEO of the Atlantic Council, said, “Abu Dhabi is a leader in the international global energy sector through its foresight, innovation, and strategic planning, and has become a magnet for policymakers, experts and business leaders. The Atlantic Council’s 2019 Global Energy Forum will bring together these crucial actors from across the globe to set the energy agenda for 2019.”
Randolph Bell, Director of the Atlantic Council’s Global Energy Centre, said, “With our focus on East Asian energy demand and innovation in 2019, the Global Energy Forum plans to highlight how the region’s global energy partnerships – particularly with the Gulf — and race for new energy technologies will fundamentally reshape the energy system and geopolitical order of the 21st century. By encouraging forward-looking discussion between policymakers and business leaders, the Atlantic Council Global Energy Forum aims to maximise the opportunities emerging from the sweeping changes to the global energy mix, and shape outcomes that leaves us all more secure and prosperous.”
WAM/Esraa Ismail/Tariq alfaham
The post Atlantic Council Global Energy Forum returns to Abu Dhabi in 2019 appeared first on Inter Press Service.