What Are the Legitimate Yemeni Govt’s Messages from Bab al-Mandab Visit?

Yemeni coastguard members loyal to the legitimate government ride in boats the Red Sea off of the government-held town of Mokha in the western Taiz province, close to the strategic Bab al-Mandab Strait, on December 12, 2023. (AFP)
Yemeni coastguard members loyal to the legitimate government ride in boats the Red Sea off of the government-held town of Mokha in the western Taiz province, close to the strategic Bab al-Mandab Strait, on December 12, 2023. (AFP)
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What Are the Legitimate Yemeni Govt’s Messages from Bab al-Mandab Visit?

Yemeni coastguard members loyal to the legitimate government ride in boats the Red Sea off of the government-held town of Mokha in the western Taiz province, close to the strategic Bab al-Mandab Strait, on December 12, 2023. (AFP)
Yemeni coastguard members loyal to the legitimate government ride in boats the Red Sea off of the government-held town of Mokha in the western Taiz province, close to the strategic Bab al-Mandab Strait, on December 12, 2023. (AFP)

Deputy head of Yemen’s Presidential Leadership Council Aidarous al-Zubaidi and Defense Minister Mohsen al-Daeri visited the Bab al-Mandab district and Mayyun island in the Red Sea.

The significant development took place as the United States on Tuesday launched a multinational operation to safeguard commerce in the Red Sea as attacks by Iran-backed Houthi militias forced major shipping companies to reroute, fueling concern over sustained disruptions to global trade.

Zubaidi met with commanders of the Arab coalition forces on Mayyun, hailing the major role the alliance has played in securing the region and supporting efforts to restore normal life there, reported the state news agency Saba.

He toured several vital projects underway on the island, including the construction of Mayyun airport, a desalination plant and residential unit that is being built with the support of the United Arab Emirates.

Zubaidi’s press secretary Ali al-Hadyani told Asharq Al-Awsat that the visit to Bab al-Mandab and Mayyun aims to deliver two messages.

"The first is that this vital region, which is located on one of the world’s most important marine shipping and trade routes, is a sovereign part of the nation and we will protect and defend it with all our might," he declared.

"We will not let it slip through our fingers no matter the challenges and hardships," he added, vowing to confront the dangers threatening these regions.

The second message is that the visit by the PLC deputy leader sends a signal that "we are part of the regional and international communities," he went on to say.

"Our presence here is a sign that we are part of Arab national security. Bab al-Mandab and its islands are an integral part of Arab national security. We will cooperate with our brothers in the Arab coalition to protect these regions and deter any threats," he vowed.

"We will always be part of the Arab fold ... and we will be prepared to be part of any coalition that will be formed to protect this vital waterway," he stated.

US Secretary of Defense Lloyd Austin, who was on a trip to Bahrain, said Britain, Bahrain, Canada, France, Italy, the Netherlands, Norway, Seychelles and Spain were among nations involved in the Red Sea security operation.

The group, widely dubbed in media reports a "task force," will conduct joint patrols in the southern Red Sea and the adjacent Gulf of Aden.

"This is an international challenge that demands collective action," Austin said in a statement, announcing the initiative as "Operation Prosperity Guardian." He called on other countries to contribute as he condemned "reckless Houthi actions".

The Red Sea is linked to the Mediterranean by the Suez Canal, which creates the shortest shipping route between Europe and Asia. About 12% of world shipping traffic transits the canal.



COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
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COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)

Countries agreed at the UN's COP29 climate conference to spend $300 billion on annual climate finance. Here are some ways of understanding what that sum is worth:

MILITARY MIGHT

In 2023, governments around the globe spent $6.7 billion a day on military expenditure, according to the Stockholm International Peace Research Institute.

That means the $300 billion annual climate finance target equates to 45 days of global military spending.

BURNING OIL

$300 billion is currently the price tag for all the crude oil used by the world in a little over 40 days, according to Reuters calculations based on global crude oil demand of approximately 100 million barrels/day and end-November Brent crude oil prices.

ELON MUSK

According to Forbes, Elon Musk's net worth stood at $321.7 billion in late November. The world's richest man and owner of social media platform X has co-founded more than half a dozen companies, including electric car maker Tesla and rocket producer SpaceX.

STORM DAMAGE

Hurricane Katrina, one of the most devastating and deadliest cyclones in US history, caused $200 billion in damage alone in 2005.

This year's climate-fueled Hurricane Helene could end up costing up to $250 billion in economic losses and damages in the US, according to estimates by AccuWeather. While preliminary estimates by Morningstar DBRS suggest Hurricane Milton, also supercharged by ocean heat, could cost both the insured and uninsured nearly $100 billion.

BEAUTY BUYS

The global luxury goods market is valued at 363 billion euros ($378 billion) in 2024, according to Bain & Company.

COPPER PLATED

The GDP of Chile - the world's largest copper producing country - stood at $335.5 billion in 2023, according to World Bank data.

GREECE'S BAIL OUT

Euro zone countries and the International Monetary Fund spent some 260 billion euros ($271 billion) between 2010 and 2018 on bailing out Greece - the biggest sovereign bailout in economic history.

BRITISH BONDS

Britain's new government needs to borrow more to fund budget plans. Gilt issuance is expected to rise to 296.9 billion pounds ($372.05 billion) for the current financial year.

TECH TALLY

A 10% share of tech giant Microsoft is worth just over $300 billion, according to LSEG data. Meanwhile the market cap for US oil major Chevron stood at $292 billion.

CRYPTO

The annual climate finance target amounts to 75% of the total value of the global market for crypto currency Ether, the world's second-largest cryptocurrency.

Alternatively, 3 million Bitcoin would cover the annual climate finance target as the world's largest cryptocurrency closes in on the $100,000 mark following a rally fueled by Donald Trump winning the Nov. 5 US presidential election.