World’s biggest diamond to be auctioned in London

Guards stand next to the 1109-carat rough Lesedi La Rona diamond, the biggest rough diamond discovered in more than a century, at Sotheby's on May 04, 2016 in New York City. (Spencer Platt/Getty Images/AFP)
Updated 05 May 2016
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World’s biggest diamond to be auctioned in London

NEW YORK: “Lesedi la Rona,” the largest gem-quality rough diamond discovered in more than 100 years, will be auctioned in London next month and is expected to sell for $70 million, international auction house Sotheby’s said on Wednesday.
Ahead of the auction on June 29, the 1,190-carat diamond, its name in Botswana’s Tswana language translates as “Our Light,” was on display at Sotheby’s New York headquarters.
David Bennett, worldwide chairman of Sotheby’s jewelry division, said the size of the Lesedi la Rona amazed experts.
“It really just soared off the scale of rare into something just, one off, it’s just unique,” he said.
Unearthed in Botswana in November 2015 by Canadian mining company Lucara Diamond Corp., the gigantic gem is about the size of a tennis ball and is believed to be between 2.5 billion to more than three billion years old.
The Lesedi La Rona’s color and transparency are typical of a rare and coveted subgroup called Type IIa diamonds, according to a study by the Gemological Institute of America.
Bennett said it was second only in size to the Cullinan Diamond, which was discovered in 1905 in South Africa and weighed more than 3,000 carats. The Cullinan Diamond was later cut into several smaller stones.
The reputation of diamonds mined in Africa has been tarnished in recent decades by rebels in strife-torn countries who forced people to mine them and then sold the so-called “blood diamonds” to raise money to buy arms.
But the Kimberley Process Certification System, a United Nations-backed program that was set up in 2002 following devastating civil wars in Angola, Sierra Leone and Liberia, has made trafficking in conflict diamonds much more difficult.
Sotheby’s said independent reports by experts showed the Lesedi la Rona could have the potential to yield the largest, top-quality diamond ever seen once it has been cut and polished.
“It’s worthwhile for people to come and look at it because you probably won’t be seeing it again in two or three year’s time,” Bennett said. “It may very well be cut up into all these wonderful famous stones.”


Maritime experts urge Pakistan to expand its blue economy to $100 billion

Updated 4 min 14 sec ago
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Maritime experts urge Pakistan to expand its blue economy to $100 billion

  • Pakistan held an international maritime conference which was attended by the International Maritime Organization chief on Thursday
  • PM Shehbaz Sharif told the IMO chief that his government prioritized blue economy as ‘central pillar’ of economic development strategy

ISLAMABAD: Maritime experts on Thursday urged the Pakistani government to expand its blue economy to $100 billion as the country hosted an international maritime exhibition in Islamabad.
The International Maritime Sustainability Exhibition and Conference (IMSEC) was attended by International Maritime Organization (IMO) Secretary-General Arsenio Antonio Dominguez Velasco and several other maritime experts.
This is the first-ever visit to Pakistan by the chief of the IMO, a specialized agency of the United Nations responsible for regulating shipping and ensuring maritime safety, environmental protection and security on international waters.
During the maritime conference, panelists suggested the Pakistani government to work on increasing its share in the global blue economy, which means sustainable use of ocean resources to benefit people, livelihoods and ocean ecosystem health.
“Blue economy is a responsibility in which we do a business in maritime domain which is safe and secure as far as the environment is concerned, its ecosystem is preserved as well as it is centered around the people that was the message which was given by the secretary general of IMO as well,” Vice Admiral (retired) Ahmed Saeed, president of Pakistan’s National Institute of Maritime Affairs, told Arab News.
“So, today’s conference was actually centered around giving the details of the potential of Pakistan’s maritime economy. It is around $100 billion so at the moment our contribution into our national economy is less than 1 percent whereas it should be close to 6-10 percent.”
Professor Dr. Sajid Mahmood Shahzad, vice chancellor of MinHajj University in Lahore, said Pakistan should focus on the country’s maritime potential to fix the country’s fragile economy.
“We are always talking of fragile economy of Pakistan, if you really would like to ask me, answer to all those fragile economy of Pakistan is blue economy. We need to put up a lot of efforts to achieve, to gain whatever we have out at sea,” he told Arab News.
“The potential we have that is enormous, but being a maritime nation how to accrue those benefits from the sea, we are ignorant. I think now the time has come we should focus on our blue economy,” he said.

Participants attend International Maritime Sustainability Exhibition and Conference (IMSEC) in Islamabad, Pakistan on September 12, 2024. (AN photo)

Fisheries and maritime trade
In his meeting with the IMO chief, Prime Minister Shehbaz Sharif vowed to expand the country’s fisheries and maritime trade, and explore offshore resources, according to Sharif’s office.
Established in 1948, the IMO’s primary role is to develop and maintain a comprehensive regulatory framework for shipping, which includes standards for safety, pollution prevention and legal matters surrounding global maritime operations.
The prime minister “underlined Pakistan’s desire for expanding fisheries and maritime trade, exploring offshore resources, promoting coastal tourism, and fostering a sustainable shipbreaking industry,” Sharif’s office said, after his meeting with the IMO chief.
It said the premier prioritized blue economy as a “central pillar” of his economic development strategy and highlighted the role of Pakistan’s Special Investment Facilitation Council (SIFC), a civil-military body set up in June last year, in attracting investments and introducing modern technologies to advance fisheries and the shipbreaking sector.
“PM Sharif renewed Pakistan’s firm commitment to work with the international partners and the IMO to contribute to global efforts aimed at reducing maritime emissions,” the statement from Sharif’s office said.
“Secretary-General Velasco appreciated the prime minister’s leadership and Pakistan’s proactive approach toward leveraging its maritime resources for economic progress and its role in the global maritime community.”

International Maritime Organization (IMO) Secretary-General Arsenio Antonio Dominguez Velasco speaks during International Maritime Sustainability Exhibition and Conference (IMSEC) in Islamabad, Pakistan on September 12, 2024. (PID)

He assured continued support to Pakistan from the IMO in furthering maritime collaboration for sustainable development.
Maritime decarbonization, environment-friendly ship-recycling
Earlier at the conference, the Pakistani government pledged to reduce greenhouse gas (GHG) emissions from the global maritime sector, make greater use of green technology to improve ships’ energy efficiency and carry out more environment-friendly ship recycling.
“Pakistan fully complies with IMO regulation,” Maritime Affairs Minister Qaiser Ahmed Sheikh said at the opening session of the conference. “We are striving to reduce the global [carbon] footprint and make greater use of green technology. Such measures must be taken in every institution to deal with climate change.”
The minister said Pakistan was invested in ensuring the protection of biodiversity and the oceans and would work to make ship recycling “safe and environmentally friendly.”
“We are ready to work with global organizations to promote ship-making, ship-recycling and the blue economy,” Sheikh added.
Addressing the conference, IMO chief Velasco said his visit to Pakistan would give him the opportunity to “come back in the future and assess and evaluate all the promises and the conversations and the challenges that we are going to put toward each other, from Pakistan government as well as from IMO in order to work better in the different aspects of shipping.”
He said he looked forward to working with Pakistan on decarbonization and ship recycling, where Pakistan is one of the leading nations in the world.


Arab leaders join UN chief in call for global action

Updated 6 min 56 sec ago
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Arab leaders join UN chief in call for global action

  • Organization’s upcoming ‘Summit of the Future’ aims to revive support for multilateralism
  • Event will take place during 79th General Assembly in New York this month

LONDON: Arab leaders have joined the head of the UN in calling for global action on security, poverty, development and climate change.

Their appeals came ahead of the UN’s Summit of the Future, which will take place on Sept. 22 and 23, during the organization’s 79th General Assembly in New York.

Billed as an attempt to revive trust in multilateralism and bolster support for the UN’s Sustainable Development Goals, the event will result in a “Pact for the Future,” negotiated and agreed upon by member states. It will also produce a “Global Digital Compact” and a “Declaration on Future Generations.”

The UN said: “The world is not on track to meet the goals we have already set for ourselves. Nor are we effectively rising to new challenges or opportunities.

“Multilateral governance, designed in simpler, slower times, is not adequate to today’s complex, interconnected, rapidly changing world. The summit is an opportunity to put ourselves on a better path.”

The pact agreed during the summit will cover key aspects of the UN’s remit, including sustainable development, international security, science and innovation, and youth issues.

The organization hosted a “Global Call” on Thursday to promote the summit and outline its aims for the summit, at which Antonio Guterres, the UN’s secretary-general, was backed by Arab leaders including Egyptian President Abdel Fattah El-Sisi and newly reelected Algerian leader Abdelmadjid Tebboune, who delivered their messages of support in video statements.

Other leaders from Muslim-majority countries who took part in the appeal included Pakistani Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan. The Global Call was hosted by German Chancellor Olaf Scholz and Namibian President Nangolo Mbumba.

Guterres said: “Member states are now in the final stages of negotiating the three agreements to be adopted at the Summit of the Future: the Pact for the Future, the Global Digital Compact and the Declaration on Future Generations.

“My appeal is for you to push hard for the deepest reforms and most meaningful actions possible. We need maximum ambition during these final days of negotiation.”

He listed major global challenges he said are “moving much faster than our ability to solve them” and added: “Ferocious conflicts are inflicting terrible suffering. Deep geopolitical divides are creating dangerous tensions, multiplied by nuclear threats.

“Inequality and injustice corrode trust and fuel populism and extremism. Discrimination, misogyny and racism are taking on new forms.

“Poverty and hunger are at crisis levels as the Sustainable Development Goals are slipping out of reach. And we have no effective global response to new, and even existential, threats.”

Addressing recurring criticism of his organization’s relevance and influence in the modern world, the UN chief described the Security Council as being “stuck in a time warp.”

Highlighting the challenges facing the international financial system, he said: “Our institutions cannot keep up because they were designed for another era and another world.”

However, the UN is still in a unique position to address global issues by offering a platform for change through the summit, Guterres added.

He listed a series of requirements for the revival of multilateralism, including conflict prevention and mediation, financial reforms, increased lending capacity among development banks, and management of the risks posed by new technologies.

“As we reach the end of negotiations on the three texts, I appeal to all governments to make sure they are as ambitious as possible, to restore the hope and trust we need in order to address the dramatic challenges of our time,” he said.

“The Summit of the Future is an opportunity for far-reaching agreements on international collaboration for a safer, more sustainable and more equitable world. Let’s seize it.”

The appeal by Guterres was echoed by Tebboune, the Algerian president, who warned that the world is “going though a very sensitive, critical juncture.”

Egyptian leader El-Sisi highlighted the current tensions in the Middle East as he called for the summit to address three main priorities.

Member states must establish a system “based on the principles and rules of international law,” “reform the structure of the global financial system” and “enhance efforts toward the eradication of poverty and hunger,” he said.

Sharif, the Pakistani prime minister, drew attention to the “plight of the people in Gaza.”

He said: “Today, in times of unprecedented global challenges and escalating conflicts, we are at risk of permanently damaging the notion of ‘we.’ A collective ‘we’ requires a degree of equality and justice.

“The plight of the people of Gaza is a mockery of this ‘we.’ This ‘we’ becomes marred amid rising debt burdens for the poor, increasing poverty, growing inequality, intolerance, terrorist violence, illegal foreign occupation and a skewed approach to climate adaptation.”

Erdogan, who recently called on the leaders of Muslim-majority countries to gather for a summit on Gaza, described the UN event as a “rare window of opportunity.”

He added: “It is only a matter of days until the Summit of the Future, which aims to fortify international solidarity in the face of threats to the future of humanity, and facilitate the establishment of a peaceful, secure and equitable system.

“In the midst of the conflicts, oppression, hunger and poverty that are ravaging our world, I perceive the summit as a rare window of opportunity.”


PSG refuse League order to pay Mbappe disputed EUR55 million

Updated 11 min 45 sec ago
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PSG refuse League order to pay Mbappe disputed EUR55 million

  • The LFP oversees all matters concerning the top two tiers of football in France
  • PSG said they would seek a legal ruling elsewhere

PARIS: Paris Saint-Germain refused Thursday to pay departed striker Kylian Mbappe a disputed 55 million euros ($60.6m) despite a French league (LFP) order to do so earlier in the day.
The LFP oversees all matters concerning the top two tiers of football in France, but PSG said they would seek a legal ruling elsewhere.
The 25-year-old striker says PSG owe him 55 million euros in wages and bonuses, but the Parisians say Mbappe agreed to waive the money in August 2023.
On Thursday, the LFP commission told PSG to pay, reportedly within a week, sparking a response from the Qatari-backed club.
“Given the limits of the Commission’s legal scope to make a full decision on this matter, the case must now be pursued before another court.”
“PSG will look forward to presenting all the facts over the coming months and year.”
Lawyers representing the two parties met early on Wednesday after Mbappe, who joined Real Madrid this summer, had referred his case to the LFP’s legal committee.


Britain’s crime minister has bag stolen at police conference

Updated 22 min 6 sec ago
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Britain’s crime minister has bag stolen at police conference

  • In her speech, Diana Johnson said Britain had been ‘gripped by an epidemic of anti-social behavior, theft and shoplifting’
  • Warwickshire Police said a 56-year-old man was arrested on suspicion of burglary and released on bail in connection to the incident

LONDON: Britain’s police and crime minister had her bag stolen at a conference for senior and midranking police officers where she spoke about the growing problem of theft and shoplifting, a government official said on Thursday.
The incident occurred when Diana Johnson attended the Police Superintendents’ Association conference in central England on Tuesday where one senior officer told her in a speech that the criminal justice system was broken.
The official said Johnson had her bag stolen at the conference, but no security risk had been identified. In her speech, Johnson said Britain had been “gripped by an epidemic of anti-social behavior, theft and shoplifting.”
The Home Office, or interior ministry, declined to comment.
Warwickshire Police said a 56-year-old man was arrested on suspicion of burglary and released on bail in connection to the incident.
Britain has been hit by an increase in thefts and shoplifting in recent years. While overall crime has generally been decreasing, the number of thefts from individuals of items like bags and mobile phones rose by 40 percent in the year ending March, according to the Office for National Statistics.
This has contributed to public support for the police falling to record lows. A poll by YouGov earlier this year found more than half of the public do not trust the police to solve crimes, and over a third said they have no faith in the police to maintain law and order.
In her speech, Johnson announced plans to give more police officers training to tackle anti-social behavior after a “decade of decline.”
“Too many town centers and high streets across the country have been gripped by an epidemic of anti-social behavior, theft and shoplifting which is corroding our communities and cannot be allowed to continue,” she said.


IBM deal with Saudi Arabia “brings a piece of HQ to KSA,” regional VP says

Updated 31 min 3 sec ago
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IBM deal with Saudi Arabia “brings a piece of HQ to KSA,” regional VP says

  • SDAIA and IBM announce collaboration of their AI models ALLAM and Watsonx is available on Deem

RIYADH: The latest IBM collaboration with the Saudi Data and AI Authority means a major part of the computing giant’s headquarters has made its way to Saudi Arabia, IBM’s regional vice president said.

“I am happy to share that the majority of the employees in there (software development lab) are actually Saudis that have already filed patents and those patents are already being used, and one of those products is Watsonx,” Ayman Al-Rashed told Arab News at the main hall of the Global AI Summit in Riyadh on Thursday.

AI was expected to contribute $135 billion to the Kingdom's economy by 2030, the equivalent of 12.5 percent of GDP, Al-Rashed said.

“That’s massive, and when you have that much impact, usually innovation is going to follow. So what we think is that you’re going to have a lot of breakthroughs. We believe that joint effort will accelerate the breakthrough.”

On Tuesday, SDAIA and IBM announced that the collaboration of their AI models ALLAM and Watsonx, respectively, was available on Deem, a government cloud-computing platform.

Deem is “software as a service” — such as email, file sharing, video meeting, and data rights management and infrastructure. It also serves as “infrastructure as a service” — such as virtual data center, backup, cloud storage and domain hosting.

Al-Rashed told Arab News that Watsonx, IBM’s commercial generative AI and scientific data platform based on cloud offering a studio, data store and governance toolkit, is being developed in Riyadh.

Allam, the AI generative platform serving Saudi Arabia and Arabic speakers around the world, was included in IBM’s Watsonx data platform at the IBM Think 2024 conference in its pilot phase as one of the best generative models in Arabic in the world.

He said that with this collaboration, IBM “wanted to bring a piece of the headquarters to KSA.”

Al-Rashed highlighted IBM’s plan to announce future projects at their “IBM Think” event next week.