UK Prime Minister Rishi Sunak is to make the case to investors to back a financially-stronger, technologically-advance Ukraine emerging from the war with Russia at a conference that opens in London on Tuesday.
Officials see the focus on rebuilding and long-term reconstruction as vital planks of Ukraine's prosperity.
The messages and outcomes at the jointly hosted Ukraine Recovery Conference from private companies and dozens of countries is just as important as the political support Kyiv has gained from G7, EU, Nato and at the UN General Assembly.
The business chiefs and global investors will join delegations from 61 states.
Ukrainian President Volodymyr Zelenskyy will participate online, and European Commission President Ursula von der Leyen and US Secretary of State Antony Blinken are expected to speak at the opening session.
German Foreign Minister Annalena Baerbock will address the opening panel as her country is scheduled to host next year's recovery conference.
In advance, the UK introduced legislation that would keep Russia sanctions in place until Moscow pays compensation to Ukraine.
Its package also included a new route to allow sanctioned individuals to donate frozen funds to Ukrainian reconstruction.
“We will also mandate that persons and entities in the UK, or UK persons and entities overseas, who are designated under the Russia financial sanctions regime, must disclose assets they hold in the UK,” said Foreign Secretary James Cleverly.
In his remarks on Wednesday, Mr Sunak is expected to make the case for greater innovation focus in Ukraine, which was becoming a major player in the IT industry before the Russian invasion.
“Ukraine's bravery on the battlefield must be matched by the vision of the private sector to help the country rebuild and recover,” he will say.
“Time and time again, Ukraine has shown its ability to rapidly harness innovation and creativity, and I know its recovery will be no different.
“A financially stronger, technologically advanced Ukraine will bolster its ability to drive Russia back behind its borders and build a brighter future for a sovereign and modern Ukraine of the future.”
As part of Ukraine's effort to build a vision for the reconstruction of its economy, senior officials said it wants to attract $40 billion to fund the first part of a Green Marshall Plan.
To seed the idea, the UK plans to launch a £10 million green energy challenge fund at the summit on Wednesday.
The World Bank estimates Ukraine's reconstruction will cost $411 billion, three times the country's gross domestic product. Since Russia's invasion in February 2022, external backers have poured $59 billion into Ukraine for financing.
Giving the figure of $40 billion for an initial phase of reconstruction, Rostyslav Shurma, a deputy head of Mr Zelenskyy's office, said the first focus would be the iron and steel industry.
The sector contributed around 10 per cent of Ukrainian GDP in 2021, a third of export revenue and employed around 600,000 people. It also accounted for 15 per cent of the country's carbon emissions, and Mr Shurma said there was now an opportunity to build an industry driven by renewable energy.
“If you have to rebuild, it is logical to rebuild green in line with new technologies,” Mr Shurma said. “Our vision is to build a 50-million tonnes green steel industry in Ukraine.”
BlackRock and JPMorgan Chase have said they will partner with Ukraine to launch a reconstruction bank that will serve as a conduit for public seed capital to fund rebuilding projects.
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
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SPECS
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World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
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9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Lexus LX700h specs
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Transmission: 10-speed auto
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SPEC SHEET
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Chip: Apple M1, 8-core CPU, 8-core GPU, 16-core Neural Engine
Memory: 64/256GB storage; 8GB RAM
Main camera: 12MP wide, f/1.8, Smart HDR
Video: 4K @ 25/25/30/60fps, full HD @ 25/30/60fps, slo-mo @ 120/240fps
Front camera: 12MP ultra-wide, f/2.4, Smart HDR, Centre Stage; full HD @ 25/30/60fps
Audio: Stereo speakers
Biometrics: Touch ID
I/O: USB-C, smart connector (for folio/keyboard)
Battery: Up to 10 hours on Wi-Fi; up to 9 hours on cellular
Finish: Space grey, starlight, pink, purple, blue
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
UAE currency: the story behind the money in your pockets
The%20specs
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COMPANY%20PROFILE
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Paris%20Agreement
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