United Arab Emirates

• ESA’s Joint Board of Appeal suspends the decision by the European Securities and Markets Authority to withdraw the recognition decision of Dubai Commodities Clearing Corporation as a Tier 1 third-country central counterparty
  The Joint Board of Appeal (“the Board”) of the European Supervisory Authorities (“ESAs”) decided that the application for suspension brought by Dubai Commodities Clearing Corporation (“DCCC”) against the European Securities and Markets Authority (“ESMA”) is admissible and suspends the ESMA Decision.
• The application was brought in relation to ESMA’s Decision, adopted under Article 25p Regulation (EU) No 648/2012 (EMIR), to withdraw the recognition of DCCC as a Tier 1 third-country central counterparties (CCP) as a consequence of the United Arab Emirates (UAE) being included in the list of high-risk third countries provided for in the Commission Delegated Regulation (EU) 2016/1675.
• DCCC challenged ESMA’s Decision, asking the Board to extend the adaptation period and to suspend the withdrawal Decision until the outcome of the appeal is concluded.
• The Board finds that the appeal case is admissible and suspends the ESMA Decision.

• The alarming rates at which we are losing species is not just a tragedy of epic proportions – the destruction of biodiversity also robs humanity of one of its strongest defenses against climate change.
• By one estimate, about US$598 billion to $824 billion is needed annually to reverse the loss of species worldwide.

Different ways of posing the problem

• Should we, as I have argued in my research as an expert in environmental economics, try to regulate the rate at which habitat is being converted from natural to human-centered uses?
• An alternative approach concentrates on conserving what biologists call keystone species that play a critical role in holding the ecosystem together.

A solution

• One of the most original and interesting answers to this question was provided by the late Harvard economist Martin Weitzman, who applied economic analysis to address the conservation of endangered species.
• In a pioneering 1998 paper titled The Noah’s Ark Problem, Weitzman viewed the challenge of figuring out which species to conserve with limited resources as a modern-day equivalent of the problem the biblical patriarch Noah faced when trying to determine what to take with him – and hence save – on his ark.

• The first is utility to humans – insects pollinate crops that yield food, and so on.
• There is no serious dispute that biodiversity – the variety of living species on Earth, including plants, animals, bacteria and fungi – benefits humans.
• As the World Health Organization puts it, “Healthy communities rely on well-functioning ecosystems.
• They also limit disease and stabilize the climate.” Yet nearly a third of all monitored species are currently endangered because of human activities.

An example

• To see this, imagine that there are two libraries that have many volumes (or species members), some unique to each library and some overlapping.
• If Library 1 burns to the ground, we lose all of the volumes (species members) with the exception of those that are also housed in Library 2.

What does it mean in practice?

• We may be better off protecting, for example, the Atlantic menhaden, or pogy, a primary food source for bigger fish and birds along the Eastern Seaboard and a vital connection between the bottom and top of the food chain.
• A current lawsuit claims it is subject to overfishing in and around the Chesapeake Bay.

Amitrajeet A. Batabyal does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

• Project Management Institute (PMI) today released the 13th edition of its “ Earning Power: Project Management Salary Survey ,” which reveals the global project management salary landscape and highlights the importance of continuous education and skill building to stay ahead in today’s job market.
• View the full release here: https://www.businesswire.com/news/home/20231107680202/en/
  According to the survey, respondents holding the Project Management Professional (PMP) ® certification reported higher median salaries than project management practitioners without a PMP certification – 33% higher on average across the 21 countries surveyed.
• This report is a useful resource for professionals applying for project management roles and organizations seeking to fill them as it helps define the earning power of project professionals around the world.
• The survey data shows that the median salary of project professionals varies considerably from country to country and across variables.

• Save Earth Mission's Global Founder, Mr. Sandeep Choudhary, expressed his excitement about this pivotal milestone: "Receiving the PSP license in the UAE is a testament to our dedication to integrating green finance with innovative payment solutions.
• Key highlights of Save Earth Mission's PSP license and its positive impact:
  Cutting-Edge Payment Solution: Save Earth Mission's forthcoming payment solution will offer a seamless and secure transaction experience with state-of-the-art technology.
• This approach is aligned with Save Earth Mission's vision to support green finance while reducing financial burdens on users.
• Green Finance Pioneers: Save Earth Mission is at the forefront of a Green Finance Revolution in Dubai, emphasizing the importance of integrating environmentally responsible financial practices with economic growth.