Day: May 10, 2021

ABU DHABI, NYU Abu Dhabi (NYUAD) has announced a partnership with Mubadala Investment Company and family-office Al Maskari Holding for the establishment of a new research initiative, The NYUAD Transition Investment Lab (TIL). The lab, which is run by Visiting Professor of Economics Bernardo Bortolotti, represents the first fully fledged research venture that the university has established with financial institutions based in Abu Dhabi.

TIL is a research initiative that aims to position NYUAD as a center of excellence and knowledge hub for impact finance and ESG (Environmental, Social and Governance) research, with special reference to long-term investments in the Middle East, Africa, and South-Asia (MEASA) region. Co-funded by Mubadala and Al Maskari, TIL’s mission is to meet the highest academic standards while providing strategic thinking and actionable solutions to investors in the key emerging sector of global finance.

A key objective of the lab is to introduce global institutional investors to a framework for measuring and managing ESG risk and impact of their activity in the MEASA region. This will support the ongoing transformation of the UAE capital into a financial and logistical gateway for investments to address sustainable development in the region with the highest potential in terms of economic growth and societal progress. TIL is just one way in which NYUAD seeks to demonstrate the practical relevance of its research initiatives to the UAE’s business community and local stakeholders.

Visiting Professor of Economics at NYUAD Bernardo Bortolotti commented: “The past year has aptly demonstrated how interconnected our world is and highlighted the need to shift from the conventional economic paradigm to a new model based on environmental sustainability, social inclusion and shared prosperity. Our lab represents a concerted effort to embrace this transition as a new investment philosophy and develop a more substantive focus on how best to achieve measurable impact through the UN Sustainable Development Goals.” ”We firmly believe that Transition Investment is a powerful lens to analyze and shape the current evolution. However, key to the success of this initiative is the adoption, by sovereign wealth funds and other like-minded universal investors, of risk, return and impact as the new performance metrics for investment. We are delighted to acknowledge that our valued partners Mubadala and Al Maskari will join us in this exciting research venture. “

Ahmed Al Calily, Chief Strategy & Risk Officer of Mubadala Investment Company, said: “As a Responsible Investor, Mubadala believes considering environmental, social and governance risks and opportunities in our investment process is an important aspect of achieving our core mandate, which includes generating strong risk-adjusted returns. In partnership with NYUAD and Al Maskari Holding, Mubadala strongly supports the Transition Investment Lab, which will grow the understanding and appreciation of ESG considerations across the MEASA region.”

Nabyl Al Maskari, Executive Chairman of Al Maskari Holding, said: “As an Abu Dhabi woman-founded family office recognized for environmental stewardship, good governance, and social impact; we are proud to co-found the first public-private research initiative in partnership with NYUAD and Mubadala. The TIL further reinforces our MEASA Partners platform’s commitment to positioning Abu Dhabi as the gateway to the region by collaborating with institutional investors to jointly develop locally relevant ESG frameworks that encourage the deployment of international capital towards addressing the region’s SDGs.”

Source: Emirates News Agency

ABU DHABI, Since its inception, Etihad Rail has ensured building the UAE’s national rail network with world-class standards, to contribute to supporting the growth of the nation’s industrial sector and advancing the country’s wider economic growth. The company resorted to local sources to provide many of the main components required for building the network, in line with ‘Make it in the Emirates’ strategy, which was launched recently by the UAE.

Sleepers are a vital component of the railway network, as they form the base for anchoring railway tracks. The company has built factories to manufacture railway sleepers locally, rather than importing them with the aim of achieving optimal efficiency in time, effort and costs, alongside reducing the environmental impact of importing goods into the UAE. The highest quality of raw materials that are available locally, are used in manufacturing the sleeper, which contributes in creating hundreds of jobs across the UAE.

The first of the two Sleepers Factories is located in Al Mirfa of Al Dhafra Region of the Emirate of Abu Dhabi. The factory stretches over 13,000 square metres, and is able to produce 45,000 sleepers each month, manufacturing all sleepers required for Stage One of the project. The second factory, located in Saih Shuaib on the border between Abu Dhabi and Dubai, covers an area of over 9,000 square metres. Having taken 12 months to build and requiring 700,000 man hours, the factory can produce 1.1 million sleepers.

The production of sleepers at the factories is conducted over a production line facility. With eight lines in operation, each line can produce 400 sleepers per day, with the factory producing 3,200 sleepers in every casting.

Each sleeper produced at the factory undergoes a thorough quality and inspection test. These tests include dimensional tests, cube testing, and bending testing. Assessors check for any cracks before the sleepers are transported to the assembly area to be used.

Source: Emirates News Agency

ABU DHABI, The UAE has condemned the Iran-backed Houthi terrorist militias’ systematic attempts to attack civilians and civilian objects in Khamis Mushait, Saudi Arabia, with an explosive drone, which was intercepted by the Coalition Forces.

In a statement released by the Ministry of Foreign Affairs and International Cooperation (MoFAIC) on Sunday, the UAE reiterated that these systematic terror attacks by the Houthis reflect their blatant disregard for the international community and all international laws and norms.

The Ministry urged the international community to take an immediate and decisive stance to stop these recurrent acts, which target critical infrastructure and threaten the security and stability of the Kingdom, as well as global energy supplies. It also stressed that the continued threat of these attacks in recent days is a grave escalation that represents new evidence of this militias’ attempts to undermine security and stability in the region.

The UAE renewed its full solidarity with Saudi Arabia over these subversive terrorist attacks and reiterated its stance against all threats to the Kingdom’s security and stability. The UAE also reiterated its support for all measures taken by Saudi authorities to maintain the safety and security of its citizens.

MoFAIC also stressed that the security of the UAE and that of Saudi Arabia are indivisible and that any threat facing the Kingdom is considered a threat to the security and stability of the UAE.

Source: Emirates News Agency