As much as $4tn a year funding is required to solve the problems of climate change, which is mere 4% of the total global market capitalisation, and the Arab region’s capital markets, which have had “significant” growth in the past decade, could play pivotal role, a top official of the International Organisation of Securities Commissions (Iosco) said here yesterday.Addressing the Third Arab Capital Markets conference, organised by the Qatar Financial Market Authority (QFMA), in cooperation with the Union of Arab Securities Authorities (UASA) via videoconferencing, Iosco deputy secretary general Tajinder Singh said under sustainable financing, which is able to solve the problems of climate change, the funding needed is in the range of $4tn annually.Highlighting the funding requirement accounts for just 4% of the global market capitalisation; he said "so if 4% of the global market capitalisation was to be directed to this area, then that would be able to help in solving this (climate change) problem."Asserting that capital markets could play an effective role in solving global problems; Singh said the markets in the Arab region have experienced "significant" growth over the past decade and have "considerable" potential for further growth due to the young and growing population, urbanisation and natural resources.The conference, which was inaugurated by the Qatar Central Bank governor Sheikh Bandar bin Mohamed bin Saoud al-Thani, brought together a number of economic and financial officials and decision-makers, leaders of Arab, regional and international financial institutions, a group of experts and financial analysts and major investors, as well as university professors and experts in the field of artificial intelligence, in addition to representatives of Arab and international regulatory authorities, and financial markets.In his keynote address, QFMA chief executive officer Dr. Tamy bin Ahmad al-Binali said the importance of capital markets is escalating "significantly" at the level of the international and national economy, due to their financing role and their effectiveness in attracting, redirecting and investing financial resources."Therefore, it is necessary to ensure the effectiveness of such markets, and work to develop their performance indicators, and this applies directly to the Arab capital markets, which face great challenges, and at the same time enjoy great opportunities for growth and development," he said.Al-Binali said the world is witnessing at this time rapid developments in various fields, especially in the high-tech sector, particularly in artificial intelligence and other technologies, which have left their direct and indirect effects on various aspects of economic activity and the financial sector in general and capital markets in particular."This led to the emergence of major opportunities to develop technologies and mechanisms of work in the capital markets, which will reflect positively on their financing role," he added.However, at the same time, technological developments have imposed new challenges, which cannot be dealt with using the same traditional tools, so the Arab capital markets find themselves in a technological reality full of opportunities, challenges and risks, which requires working to invest opportunities and face challenges, which will positively reflect on the stability of capital markets and their ability to carry out their functions and reduce the risks they may face, he said.

The media in Nepal, including newspapers, television channels, and news websites, celebrated yesterday through comprehensive press coverage the visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to Kathmandu, which concluded on Wednesday as part of an Asian tour.The media in Nepal covered many aspects of the visit, reviewing the strategic importance and promising results from His Highness’s visit to Nepal.Nepalese television channels followed with great interest the news of the visit of His Highness the Amir, highlighting the outcomes that resulted from the signing of several agreements concerned with sports, arts, culture, and scientific research. In this context, a report by Kantipur TV (KTV) said that during the state visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to Nepal, the labour agreement between the two countries was discussed with great interest.The report included in the news bulletin added that the visit of the the Amir of the State of Qatar culminated in the signing of six Memoranda of Understanding concerned with sports, arts, culture, scientific research, and news exchange.For its part, Republica newspaper said in a report under the title ‘Cabinet approves memoranda of understanding to be signed between Nepal and Qatar,’ indicating that the Nepalese government approved the joint memoranda of understanding between Nepal and Qatar, adding that the agreements and memoranda of understanding include vital areas for bilateral co-operation relations and vary from the fields of education, culture, youth, sports, media, training, and co-operation in the field of diplomatic work.It affirmed that the visit of the Amir to Kathmandu witnessed calls for investment in the tourism, agriculture, and hydroelectric energy sectors in Nepal, highlighting the contribution of Nepalese workers to the development of Qatar. The newspaper added in a report entitled ‘Prez Paudel solicits Qatar’s investment in Nepal’s water resources, agriculture and tourism sectors’ and that informed officials believe that the discussions and agreement between the two countries on Wednesday would pave the way for new opportunities for Qatari investment in Nepal’s water resources, agriculture, and tourism sectors.The officials expressed optimism that the visit would identify more areas of co-operation and strengthen relations between Qatar and Nepal, pointing out that the visit of His Highness the Amir of Qatar just before Nepal’s investment conference, is expected to send a positive message about Nepal at the international level, the paper added. In turn, a Nepali TV correspondent said that the visit of the Amir of the State of Qatar to Nepal gains its importance because it is the first visit by a Gulf ruler to Kathmandu on a historic state visit, indicating that Nepal celebrated the distinguished diplomatic relations with Qatar, and designated this visit as an honorary one when it declared on Tuesday a national holiday.The correspondent added in an interview with the news bulletin that a large number of Nepalese workers live in the State of Qatar. Therefore, it is natural that the relationship between the two countries is so friendly, pointing out that the largest part of Nepalese economic revenues comes from the State of Qatar being one of the richest countries in the world, which makes remittances coming from this country very high, out of every five Nepalese families there is a family with an individual working in Doha.For its part, Nepalese The Kathmandu Post newspaper said that the visit of the His Highness the Amir of Qatar Sheikh Tamim bin Hamad al-Thani to the country is the highest-level visit from Qatar after the two countries established diplomatic relations in 1977.The newspaper said in its report that the Amir pledged to strengthen bilateral relations with Nepal and diversify the economic and social support provided to Nepal, adding that the Qatari side also expressed great interest in increasing investment in the hydroelectric sector in Nepal.According to the newspaper, the two parties reached an understanding in areas such as hydropower, agriculture, tourism, water resource conservation, and climate change. The two sides are expected to discuss many issues of bilateral interest, including inviting Qatari investments in various sectors in Nepal and renewing the working agreement, it continued.Nepal’s Prime Minister Pushpa Kamal Dahal is likely to submit a request for Qatari investment in a major project, either building an international airport or a hydroelectric project, according to officials familiar with the meeting’s agenda, the paper added.