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Ukraine war: Oil prices soar to highest level since 2008

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Oil prices have risen to the highest level since 2008 after the US said it was discussing a potential embargo on Russian supplies with its allies, the BBC reported.

Brent crude – the global oil benchmark – went up to above $139 a barrel, before easing to around $130.

Supply fears triggered by the Russian invasion of Ukraine have rocked the energy markets.

Consumers are already feeling the impact of higher energy costs as fuel prices and household bills jump.
Stock markets in Asia fell on Monday, with Japan’s Nikkei 2.7 per cent lower and the Hang Seng in Hong Kong down by 3 per cent.

On Sunday, the US Secretary of State Antony Blinken said the Biden administration and its allies are discussing an embargo of Russian oil supplies.

President Volodymyr Zelensky has told Ukrainians they have “withstood the blow” of Russia’s invasion as he urged citizens to continue fighting.

In an impassioned speech delivered from Kyiv on Saturday night, Zelensky told the country that the time has come for them to launch a fightback.
“You need to go out and drive this evil out of our cities,” he said.

UAE votes in favour of resolution on human rights situation in Ukraine

Meanwhile, within the framework of the 49th session of the United Nations Human Rights Council on the situation in Ukraine, the UAE voted in favour of a resolution on the human rights situation in Ukraine.

The resolution was adopted following a majority vote of 32 member states in favour, two against, and 13 abstentions.
The resolution recalls the obligations of all states under Article 2 of the Charter to refrain in their international relations from the threat or use of force against the territorial integrity or political independence of any state, and to settle its international disputes by peaceful means.

Ahmed Abdulrahman Al Jarman, Ambassador and UAE Permanent Representative to the United Nations and other international organisations in Geneva, called on all parties to the conflict in Ukraine to exercise restraint, de-escalate and work to end this crisis through dialogue and diplomatic means.

Al Jarman stressed the UAE’s firm position to de-escalate and work to find a peaceful solution to the crisis. The UAE supports efforts aimed at dialogue and diplomacy at all levels, to ensure a peaceful solution and the return of stability and security.

Announcements

Saudi Arabia to Host 2034 FIFA Men’s World Cup; 2030 edition to span three continents

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World soccer’s governing body, FIFA, has confirmed that Saudi Arabia will host the men’s FIFA World Cup in 2034, while the 2030 tournament will be held in Spain, Portugal, and Morocco, with special celebratory matches in three South American countries. The announcement was made on Wednesday by FIFA President Gianni Infantino following an extraordinary virtual Congress.

Both tournaments were awarded through uncontested bids and confirmed by acclamation. “We are bringing football to more countries, and the number of teams has not diluted the quality. It has actually enhanced opportunities,” said Infantino, highlighting the expanded global reach of the tournament.

The 2030 World Cup will be a landmark event, taking place across six nations and three continents. Morocco, Spain, and Portugal will serve as the primary hosts, while Uruguay, Argentina, and Paraguay will hold celebratory matches to mark the centenary of the inaugural World Cup, hosted by Uruguay in 1930.

While Argentina and Spain have previously hosted the tournament, Uruguay will host again for the first time in a century. Portugal, Paraguay, and Morocco will join the World Cup’s history as first-time host nations.

In 2034, Saudi Arabia will become the second Middle Eastern nation to host the FIFA World Cup, following Qatar’s 2022 edition. This milestone further cements the region’s growing influence in the world of football.

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Inaugural Sport Impact Summit champions global change through the power of sport

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The inaugural Sport Impact Summit (SIS) 2024 united over 200 global leaders, dignitaries, and changemakers at Atlantis, The Palm, Dubai, to champion the transformative power of sport in addressing critical global challenges, including climate action, sustainability, and human health.

The summit, held under the esteemed patronage of His Excellency Dr. Ahmad Belhoul Al Falasi, UAE Minister of Sports, and in the presence of His Excellency Sheikh Suhail Bin Butti Suhail Al Maktoum, Executive Director of the Sports Development Sector at the General Authority of Sports, provided an engaging platform for impactful discussions, innovative partnerships, and actionable solutions.

Key highlights included the UAE Ministry of Sport Masterclass, presented by Oxford SDG and Sport Impact, showcasing best practices in sustainability leadership. The summit also featured powerful stories of innovation and advocacy from organizations like McLaren, Deloitte, ATP Tour, Nitto, Sail GP, and Reflo, emphasizing the sport industry’s role in fostering environmental stewardship.

The event’s agenda also included:

-Moneyball Talk: Hosted by Dureka Carrasquillo, this session explored the evolving financial landscape of sustainability sponsorship in sports with insights from 1.5 Capital, SURJ, Udinese Calcio, and VTV Consulting.

-Player Power Panel: Featuring Justin Coghlan, Dominic Thiem, and Lucy Shuker, the panel highlighted athletes’ increasing influence in driving meaningful change.

-Biodiversity Tour: In partnership with Goumbook and Atlantis Dubai, this initiative highlighted the critical connection between sport and environmental preservation.-Mike Ford, Co-Founder of SIS, noted, “The overwhelming enthusiasm we’ve witnessed confirms the sporting world’s readiness to take bold action to address sustainability and human health challenges. This summit marks the beginning of a global movement. We are thrilled to announce a series of future masterclasses across the region and the launch of the Sport Impact Summit 2025, aligning with the Dubai Fitness Challenge next year.”

Sean Morris, Co-Founder of SIS, added, “The success of this summit underscores the collective power of sport and the necessity of collaborative action. This event has catalyzed partnerships and ideas that will shape the future of sustainability in sport, driving tangible progress toward a better world.”

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Announcements

Etihad Airways adds 10 new destinations for 2025

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Etihad Airways, the national airline of the United Arab Emirates, announced the launch of ten new destinations starting in 2025.

The new destinations are Algiers, Atlanta, Chiang Mai, Hanoi, Hong Kong, Krabi, Medan, Phnom Penh, Taipei and Tunis. They will complement Etihad’s previously revealed new destinations for 2025: Prague, Warsaw, and Al Alamein.

Antonoaldo Neves, Etihad’s Chief Executive Officer, said, “Launching ten new destinations in a single day underscores our unwavering commitment to growing our airline with a fantastic route network and world-class, customer-focused service. This incredible milestone would not have been possible without the extraordinary efforts of our team and the ongoing support of our guests.”

Etihad’s expansion is set to bring tens of thousands of new visitors directly to Abu Dhabi, boosting its position as a premier destination for leisure, business, and cultural tourism. The move aligns with the UAE capital’s efforts to attract international travellers and reinforces its reputation as a hub of connectivity, innovation, and hospitality.

“The launch of these ten destinations is supported by our impressive hub, Zayed International Airport, which boasts the ‘wow’ factor and ample space to accommodate our rapid growth, further enhancing the exceptional guest experience,” said Neves. “2025 marks a pivotal year for Etihad, with more than 90 destinations in over 50 countries, a fleet of more than 110 aircraft – including our amazing new A321LRs – welcoming over 20 million guests onboard. Most importantly, it will support us in bringing over a million visitors to Abu Dhabi to enjoy our home.”

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