Sending Seaons Greetings

Government ministers from nearly 200 countries have reached a historic agreement at the COP28 summit in Dubai, endorsing a deal for a transition away from fossil fuels.

Following extensive talks, the agreement emphasises a just, orderly, and equitable transition away from fossil fuels in energy systems, aiming to achieve net-zero emissions by 2050.

The proposal also advocates accelerating efforts to phase down unabated coal power, tripling global renewable energy capacity and doubling the rate of energy efficiency improvements by 2030.

While not mandating an absolute phase-out of hydrocarbons, the agreement signifies a crucial step toward addressing climate change, with reactions ranging from positive acknowledgment to disappointment over the absence of a complete fossil fuel phase-out commitment.

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Projects

The resort took 23 years to build

Fontainebleau Arrives in Las Vegas

Fontainebleau Las Vegas, a $3.7-billion resort, has officially opened on the north end of the Las Vegas Strip after 23 years of development. The 3,644-room resort, affiliated with the iconic Fontainebleau Miami Beach, marks the first new resort on the Strip since 2021.

The resort features the luxurious Fontainebleau Fleur de Lis suites on the top five floors, offering unique amenities and design nods to the original Fontainebleau Miami Beach.

The 55,000-square-foot Lapis Spa and entertainment bookings, such as Post Malone at the BleauLive Theater, add to the resort’s appeal.

With a blend of sophistication and substance, Fontainebleau Las Vegas aims to make a significant impact on the local food scene and entertainment landscape.

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Quiz Question

The focus today is on project portfolio management. How well-informed are you about this aspect of project management?

Question: In Project Portfolio Management (PPM), what is the primary goal?

A) Maximizing individual project success

B) Minimizing overall project costs

C) Optimizing resource allocation and project alignment with organizational goals

D) Speeding up project completion timelines

Keep scrolling to find the answer!

Middle East News

NEOM Introduces New Food Company

Neom will not only change the way we live but also how we eat

NEOM, the sustainable development project in Saudi Arabia, has launched ‘Topian,’ the NEOM Food Company, aiming to revolutionise food production, distribution, and consumption across five verticals: climate-proof agriculture, regenerative aquaculture, novel foods, personalized nutrition, and sustainable food supply.

Envisioned as a purpose-driven organization fostering innovation, Topian’s ‘Future to Table’ concept aims to transform the global food system, addressing challenges arising from population growth, changing consumption patterns, climate change, and resource depletion.

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Largest Artificial Reef in the World Planned

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Dubai-based sustainable city developer URB has unveiled plans for “Dubai Reefs,” touted as the world’s largest ocean restoration project.

The development includes a marine institute dedicated to ocean research and education programs on marine conservation. URB aims for the site to run on 100% renewable energy from solar, hydropower, and wave farms, with seaweed and oyster farms providing food.

While the project’s completion is targeted for 2040, URB acknowledges funding challenges and strives for accessibility across income levels, aiming to set a blueprint for marine conservation, ecotourism, and sustainable ocean living.

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Other News

Former Pakistani Prime Minister Imran Khan has been indicted on charges of leaking state secrets, accused of making public a classified cable sent from Pakistan’s ambassador in the US. The charges, related to a cable received last year, could lead to a 14-year prison sentence or even death if Khan is found guilty under the Official Secrets Act. This marks the second indictment on the same charges after a prior one was struck down on technical grounds. Khan claims the cable revealed a conspiracy by the Pakistan military and the US government to topple his government in 2022 after he visited Moscow, a charge denied by both Washington and the Pakistan military. Despite being disqualified from contesting elections due to a graft conviction, Khan’s legal team seeks his release on bail, but the new indictment may hinder his chances.

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The US House of Representatives, with a 221-212 vote along party lines, has officially sanctioned the impeachment inquiry into President Joe Biden, led by Republicans who allege impropriety related to his son Hunter Biden’s foreign business dealings. The White House dismissed the probe as politically motivated and lacking factual basis. Despite lacking evidence of wrongdoing, Republicans aim to scrutinize allegations of corruption throughout the 2024 campaign. President Biden criticizes the Republicans for prioritizing baseless attacks over addressing urgent domestic and international matters.

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Sport

Ronaldo Reaches 50 Goals

Ronaldo’s goals continue to grow

Cristiano Ronaldo scored his 50th goal of the calendar year in Al Nassr’s 5-2 victory over Al Shabab, securing a spot in the Saudi King Cup semifinals.

Ronaldo’s powerful strike in the 74th minute contributed to his impressive goal tally since joining Saudi Arabia’s Al Nassr in January. Despite Al Shabab’s early penalty miss, Seko Fofana gave them the lead, countered by Carlos Júnior’s header and goals from Sadio Mané and Abdulrahman Ghareeb for Al Nassr.

Ronaldo added a fourth goal, while Al Shabab scored in the final moments. The result marked Al Nassr’s advancement to the semifinals, and Ronaldo expressed gratitude for the support on Instagram.

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Newsletters That We Like

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​The Future of VR – the #1 newsletter for virtual reality news, VR gaming and the metaverse

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​The Edge – AI in plain English, Learn 3 AI tools, 2 breaking new updates, and 1 hands on use case

Word of the Day

Salubrious – favorable to or promoting health; healthful.

For example, “The company’s commitment to providing a salubrious workplace includes regular ergonomic assessments and wellness programs for employees.”

Answer

The correct answer to the Quiz Question:

C) Optimizing resource allocation and project alignment with organizational goals

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That’s it for now

See you next week!

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Do you have some feedback or want to collaborate with the newsletter?

Then email me at glen@projectmangementnerd.com