Day: February 17, 2023

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ROSEN, GLOBALLY RECOGNIZED INVESTOR COUNSEL, Encourages Gemini Earn Program Investors to Secure Counsel Before Important Deadline in Securities Class Action Against Gemini Trust Company, LLC, Tyler Winklevoss, and Cameron Winklevoss

NEW YORK, Feb. 17, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds investors in Gemini interest accounts (“GIAs”), through a program called “Gemini Earn,” between February 2, 2021 and December 27, 2022, inclusive (the “Class Period”) of the important February 27, 2023 lead plaintiff deadline.

This case is against Gemini Trust Company, LLC, Tyler Winklevoss, and Cameron Winklevoss (together, “Defendants”).

SO WHAT: If you invested in Gemini Earn during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Gemini class action, go to https://rosenlegal.com/submit-form/?case_id=11066 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 27, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, Gemini made actionable misstatements that deceived investors by touting Gemini Earn as a safe method of storing crypto assets and collecting interest payments and that Gemini omitted and concealed significant information concerning the risks associated with Gemini Earn, including information concerning its so-called partner and borrower in connection with the program, Genesis Global Capital, LLC. Also according to the lawsuit, Defendants violated securities laws because Gemini failed to register as an exchange and/or broker-dealer and offered and sold unregistered securities without providing registration statements for such securities, which would have apprised investors of the risks and other important information associated with their investments.

To join the Gemini class action, go to https://rosenlegal.com/submit-form/?case_id=11066 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8751929

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Dubai records AED10.4 bn in weeklong real estate transactions

DUBAI, A total of 2,702. real estate transactions worth AED10.4 were conductd during the week ending 17 February 2023.

A total of 221 plots and 1,866 apartments and villas were sold for AED1.42 billion, and AED4.63 billion respectively.

The top three transactions were a land in Business Bay sold for AED 150 million, followed by a land that was sold for AED 75 million in Business Bay, and a land sold for AED 150 million in Business Bay in third place.

Al Hebiah Fifth recorded the most transactions for this week by 126 sales transactions worth AED 439.75 million, followed by Al Hebiah Fourth with 20 sales transactions worth AED 212.66 million, and Jabal Ali First with 10 sales transactions worth AED 28 million in third place.

The top three transfers for apartments and villas were an apartment was sold for AED 160 million in Island 2, an apartment was second in the list sold for AED 155 million in Marsa Dubai, and thirdly it was a sold for AED 123 million in Al Barshaa South Third.

The sum of the amount of mortgaged properties for the week was 3.55 billion, with the highest being a land in Al Warsan First, mortgaged for AED 1 billion.

252 properties were granted between first-degree relatives worth AED 811 million.

Source: Emirates News Agency

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National Experts Programme introduces new cohort, mentors for its third edition

ABU DHABI, The National Experts Programme is contributing to the development of 15 UAE-based specialists over a rigorous eight-month programme that combines academics, immersive work experience, and one-on-one mentoring by sector leaders to foster knowledge exchange and innovative thinking.

Developed under the direction of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the National Experts programme (NEP) is a launchpad for Emirati specialists who strive to play a leading role in the transformation of future-growth sectors. Now in its third edition, NEP focuses on three strategic clusters: Economic Growth, Social Development, and Sustainability and Infrastructure.

With the UAE hosting the UN Climate Change Conference (COP28) this year, this edition places added emphasis on sustainability. The learning and development programme supports the UAE’s strategic vision and fosters the development of sector leaders by cultivating specialised expertise and leadership skills in outstanding UAE-based professionals and equipping them to make a transformative impact on key social and economic sectors.

Through work sharing, shadowing, networking and other experiential activities, a selection of high-level, industry-leading mentors accelerate the personal and professional development of NEP participants, further cementing the value of lifelong learning, innovation and education as key pillars in the nation’s ongoing progress.

“The National Experts programme, created to contribute to the UAE’s long-term strategic economic development, will be an essential platform to recognise promising young leaders and nurture the next generation of Emirati talent. The third edition’s participants were selected from nearly 900 applicants through a competitive selection process,” Ahmed Talib Al Shamsi, Director of the programme said.

The NEP fosters the development of sector leaders who will help shape the country’s future. The programme cultivates a pool of Emirati professionals recognised as outstanding performers in their field and equips them to have a transformative impact on key social and economic sectors carefully aligned with the country’s national priorities. Participants will enhance their expertise, professional skills, and leadership ability by mastering five key mindsets for lifelong learning.

The list of mentors and participants in three strategic clusters and their sub-sectors are as follows:-

Economic Growth

• Economic Development:

Mentor: Abdulla bin Touq Al Marri, Minister of Economy

Participant: Mohamed Tarmoom, Senior Associate, UAE Investments at Mubadala Investment Company

• Media and Creative Economy:

Mentor: Mona Al Marri, Director-General of the Government of Dubai Media Office

Participant: Waheeda Alhadhrami, Director of National Cultural and Creative Industries Promotion Department at the Ministry of Culture and Youth

• Space:

Mentor: Salem Humaid Al Marri, Director-General at Mohammed Bin Rashid Space Centre

Participant: Abdulla Alshehhi, Head of Strategic Research at the UAE Space Agency

• Technology and Innovation:

Mentor: Peng Xiao, Group CEO at G42

Participant: Dr. Abdulla Al Shimmari, CEO, HCMS.ai

• Advanced Sciences and Research:

Mentor: Professor Eric Xing, President at Mohamed Bin Zayed University of Artificial Intelligence (MBZUAI)

Participant: Dr. Ameena Al-Sumaiti, Associate Professor at Khalifa University

• Tourism and Hospitality:

Mentor: Haitham Mattar, Managing Director of India, Middle East and Africa at IHG Hotels and Resorts

Participant: Aisha Al Matrooshi, Tourism Sector Industry Development Section Head, Department of Culture and Tourism – Abu Dhabi

Social Development

• Education:

Mentor: Dr. Ahmad Belhoul Al Falasi, Minister of Education

Participant: Hareth Alhashmi, Director of Strategy Success at the Abu Dhabi Early Childhood Authority

• Culture:

Mentor: Omar Saif Ghobash, Ambassador to the Holy See and Assistant Minister for Cultural Affairs at the Ministry of Foreign Affairs and International Cooperation

Participant: Eman Al Mughairy, Head of Communication at Anwar Gargash Diplomatic Academy

• Community Development and Social Services:

Mentor: Hessa bint Essa Buhumaid, Minister of State

Participant: Talal Faris, Division Manager, Family and Community Division at Abu Dhabi Department of Community Development

• Policy and Government Services:

Mentor: Maryam Al Hammadi, Minister of State and Secretary General at the UAE Cabinet

Participant: Salama Alfalasi, Senior Programmer and Chairwoman of Dubai Police Young Leaders Council at Dubai Police Headquarters

• Health and Well-Being:

Mentor: Dr. Jorge A. Guzman, Chief Executive Officer of Cleveland Clinic Abu Dhabi

Participant: Fatima Al-Ali, Project Manager at Mubadala Health

Sustainability and Infrastructure

• Energy and Renewables:

Mentor: Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology

Participant: Saood Alnoori, Head of Diplomatic Engagement at the Office of the UAE Special Envoy for Climate Change

• Food and Water Security:

Mentor: Mariam bint Mohammed Saeed Hareb Almheiri, Minister of Climate Change and Environment

Participant: Hamad Alshehhi, Investment Manager at ADQ

• Mobility and Logistics:

Mentor: Falah Mohamed Al Ahbabi

Participant: Abdulla Alhaidan, Project Manager, Project Management and Group Planning at DP World

• Environment and Climate Change:

Mentor: Dr. Shaikha Salem Al Dhaheri, Secretary-General of the Environment Agency – Abu Dhabi

Participant: Maitha Al Hameli, Section Manager – Marine Assessment & Conservation at the Environment Agency – Abu Dhabi

Source: Emirates News Agency

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UAE COP28 Director-General calls for preventing and addressing insecurity driven by climate change

NEW YORK, Ambassador Majid Al Suwaidi, Director-General and Special Representative of the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28), called on Member States to take ambitious action to mitigate the consequences of rising sea levels on peace and security and other climate impacts at an open debate of the United Nations Security Council on 14th February.

The Open Debate on “Sea-level rise: implications for international peace and security” was chaired by Malta’s Minister for Foreign and European Affairs and Trade Dr. Ian Borg, and included briefings by UN Secretary-General António Guterres and President of the 77th Session of the UN General Assembly Csaba Körösi.

In his remarks, Ambassador Al Suwaidi called for catalysing greater and higher quality climate finance for fragile and vulnerable communities and also underscored the UAE’s support for the Secretary-General’s Early Warning for All initiative.

“The United Arab Emirates recognises the urgent need for a coordinated response across the multilateral system. We cannot neglect any element of the climate crisis, including its clear implications for international peace and security,” Ambassador Al Suwaidi stated. “Our obligation – with each body contributing within its mandate – is to reverse the current trajectories with inclusive, effective, and responsive climate action.”

The UAE will host COP28 in Dubai from 30th November to 12th December, which will include the first Global Stocktake to assess progress toward implementation of the Paris Agreement.

On 13th February, Ambassador Al Suwaidi hosted an informal discussion with a group of key stakeholders on climate change, including representatives from major donors and leading voices from the Global South.

Ambassador Al Suwaidi also briefed diplomatic representatives from Small Island Developing States (SIDS) to ensure close collaboration on shared priorities between the UAE and SIDS in the run-up to COP28.

In line with the UAE’s commitment to a successful partnership with the UN for COP28, Ambassador Al Suwaidi met with Selwin Hart, Special Adviser to the UN Secretary-General on Climate Action and Assistant UN Secretary-General of the Climate Action Team. These dialogues are a critical part of the broader “listening tour” that Ambassador Al Suwaidi and other UAE climate leaders are conducting to ensure an inclusive and consultative planning process for COP28.

Source: Emirates News Agency

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DEWA CEO discusses cooperation with France’s satellite operator Eutelsat

DUBAI, Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), welcomed a high-level delegation from France’s satellite operator Eutelsat, headed by its CEO Eva Berneke.

The delegation included Cyril Dujardin, General Manager of the Connectivity BU; Ghassan Murat, Head of Connectivity BU, MENA, Africa and Asia; and Hani El Arja, VP of Connectivity BU MENA & Central Asia. The meeting, which took place at DEWA’s headquarters, was attended by Waleed Bin Salman, Executive Vice President of Business Development and Excellence at DEWA; and Marwan Bin Haidar, Executive Vice President of Innovation and the Future at DEWA.

At the beginning of the meeting, Al Tayer welcomed the visiting delegation, emphasising DEWA’s keenness to cooperate with leading international companies for the continuous development of its operations. He highlighted DEWA’s key initiatives and projects to promote sustainability, renewable and clean energy, and energy efficiency. These include DEWA’s space programme (Space D), which supports the National Space Strategy 2030, which aims to achieve the UAE’s vision in space exploration, technologies and related applications.

Al Tayer noted that DEWA is the first utility in the world to use nanosatellites to enhance the efficiency and operational effectiveness of electricity and water networks. It also focuses on digital transformation as well as adopting the disruptive technologies of the Fourth Industrial Revolution, such as Artificial Intelligence (AI), the Internet of Things (IoT), blockchain and smart grids.

Al Tayer said that the Space-D programme has contributed to improving the efficiency and effectiveness of DEWA’s operations and supported the digitisation of the electricity and water transmission and distribution networks, in addition to integrating IoT using DEWA’s cloud services. The satellite technology is complementary to the terrestrial IoT communications network, enhancing DEWA’s resilience and agility in monitoring and managing the electricity and water networks, reducing costs and improving asset utilisation and management.

Cooperation between DEWA and Eutelsat aims to explore the potential integration of Eutelsat Earth Low Orbit (ELO) satellites with the Space-D programme and expand the fleet of nanosatellites for both parties. The two parties will develop use-cases for advancing the utility sector worldwide.

Source: Emirates News Agency

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Dubai Chambers launches Innovation Week with 13 dialogues for employees, public

DUBAI, Dubai Chambers has launched its own Innovation Week as part of UAE Innovates 2023, the government’s annual innovation festival. The Innovation Week included 13 events focused on promoting innovation through workshops, training, and educational discussions, with some sessions open to the public.

Dubai Chambers’ aim was to create a culture of innovation among its employees and enhance the work environment, engaging employees and providing them with the knowledge and tools to drive success and excellence in performance. Topics covered during the event included design thinking, innovation culture, environmental, social, and corporate governance, metaverse and virtual reality, tokenization, innovation scorecards, innovation tools, and cybersecurity risks and threats.

The Innovation Week also featured a metaverse exhibition and a virtual session on the Dubai Chambers metaverse platform, allowing members to explore the metaverse space and present their innovative start-up projects.

UAE Innovates 2023 is one of the largest innovation festivals in the world, launched in 2015 to create a widespread culture of innovation through a consolidated effort by the government, the private sector, and individuals.

Source: Emirates News Agency