Latest on President Joe Biden's visit to the Middle East here
The UAE is to invest $2 billion in "agricultural food parks" across India in an effort to boost food security across South-East Asia and the Middle East.
The project was the first announcement made by the leaders of the UAE, the US, Israel and India after an online summit on Thursday of the newly formed I2U2 bloc.
This meeting took place on the first full day of US President Joe Biden's visit to Israel. He was joined remotely by President Sheikh Mohamed, Israeli Prime Minister Yair Lapid and India's Prime Minister Narendra Modi.
The food parks are part of a push to build "innovative, inclusive and science-based solutions to enhance food security and sustainable food systems," the leaders said in a joint statement.
Israel and the US will bring state-of-the-art technologies as well as expertise to the integrated food parks across India, which will provide the land and help farmers integrate into the project.
The aim of these parks is to "reduce food waste and spoilage, conserve fresh water, and employ renewable energy sources" to maximise crop yields and help tackle food insecurity in South Asia and the Middle East.
“This unique grouping of countries aims to harness the vibrancy of our societies and entrepreneurial spirit to tackle some of the greatest challenges confronting our world, with a particular focus on joint investments and new initiatives in water, energy, transportation, space, health and food security,” the leaders said.
They said the projects were just "the first steps in a long-term strategic partnership to promote initiatives and investments that improve the movement of people and goods across hemispheres, and increase sustainability and resilience through collaborative science and technology partnerships".
Sheikh Mohamed said the summit was clear evidence of the great opportunities for co-operation between countries and economies with shared values and goals centred around peace, tolerance and prosperity.
"We, in the UAE, believe that the economy offers the best way to achieve peace, security and progress. Especially when governments and people have the will and courage to build partnerships and face challenges," the President said.
"We also believe that only partnerships can overcome today's complex and overlapping challenges, the most important of which are food and energy security, climate change and health care," he said.
The idea of the I2U2 group was born several months ago during a dinner at the home of Minister of State and UAE ambassador to the US Yousef Al Otaiba, said Israeli Prime Minister Yair Lapid.
The leaders were "discussing how after we get control over the pandemic, anyone trying to get back at how things used to be would fail," he said.
"Our starting point was that in the new world we live today what we need to improve is our ability to co-operate quickly to make the most of our advantages."
Mr Biden said that states must always think about "what can we achieve together" to tackle global crises.
"The challenge we face in our world demands we find new ways of working together, whether it is dealing with the climate crisis which is felt here in the Middle East every day or the growing food insecurity," he said.
"All these issues require co-operation and co-ordination, the more we work together, the more we will see the benefits multiply and grow to our shared commitment to peace and prosperity."
For Mr Modi, progress has already been made on working to increase investments in the fields of water, energy, environment, health and space.
"I am confident that with I2U2, we will make significant contributions to energy security, food security and economic growth globally," he said.
“Our co-operative framework is also a good model for practical co-operation in the face of increasing global uncertainties."
As well as the $2bn for the food parks, the leaders announced an advanced "hybrid renewable energy project in India’s Gujarat State consisting of 300 megawatts wind and solar capacity complemented by a battery energy storage system".
The US has already funded a $330 million feasibility study for the project and UAE-based companies are exploring opportunities, the leaders said. Indian, Israeli and US-based companies also want to invest and contribute to India's goal of 500 Gigawatts of non-fossil fuel production by 2030.
"Such projects have the potential to make India a global hub for alternate supply chains in the renewable energy sector," the statement read.
Although the first meeting of leaders from the four countries focused on food security and clean energy issues, the nations reaffirmed their commitment to the Abraham Accords, which normalised relations between Israel and several Arab nations, including the UAE.
“We also welcome other new groupings of countries, such as the Negev Forum for regional co-operation, that recognise the unique contributions of each partner country, including Israel’s ability to serve as an innovation hub connecting new partners and hemispheres to strategically address challenges that are too great for any one country to manage alone,” they said.
Mr Biden met Israeli leaders on Wednesday and is reaffirming Washington’s support for the country. He will meet Palestinian Authority President Mahmoud Abbas on Friday in the occupied West Bank.
He will then travel on to Jeddah to meet Saudi officials, including King Salman and Crown Prince Mohamed bin Salman, before attending a GCC meeting that will also include Egypt, Jordan and Iraq.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
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Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball
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3/5
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Defenders: John Stones (Man City), Luke Shaw (Man Utd), Harry Maguire (Man Utd), Trent Alexander-Arnold (Liverpool), Kyle Walker (Man City), Tyrone Mings (Aston Villa), Reece James (Chelsea), Conor Coady (Wolves), Ben Chilwell (Chelsea), Kieran Trippier (Atletico Madrid)
Midfielders: Mason Mount (Chelsea), Declan Rice (West Ham), Jordan Henderson (Liverpool), Jude Bellingham (Borussia Dortmund), Kalvin Phillips (Leeds)
Forwards: Harry Kane (Tottenham), Marcus Rashford (Man Utd), Raheem Sterling (Man City), Dominic Calvert-Lewin (Everton), Phil Foden (Man City), Jack Grealish (Aston Villa), Jadon Sancho (Borussia Dortmund), Bukayo Saka (Arsenal)
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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
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Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
MATCH RESULT
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Liverpool: Salah (26'), Lovren (40'), Solanke (53'), Robertson (85')
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Switch%20Foods%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Edward%20Hamod%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Plant-based%20meat%20production%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2034%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%246.5%20million%3Cbr%3E%3Cstrong%3EFunding%20round%3A%3C%2Fstrong%3E%20Seed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Based%20in%20US%20and%20across%20Middle%20East%3C%2Fp%3E%0A
