Conservation is everyone's duty


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It is called the tragedy of the commons, where individuals pursuing their own self-interest squander a shared resource even as this waste works against the public interest in the long-term. As the global population expands and governments attempt to husband increasingly scarce resources, facing up to this "tragedy" has become a common dilemma for every government. In our region, water-use is the clearest example of where we confront this squandering of shared resources. In our arid climate, massive inputs of energy are required to desalinate ocean water to provide sufficient supplies for all, making water waste all the more costly.

One way to limit waste is to make it illegal, as the government of Qatar has done with the introduction of Law 28 last month. Law enforcement officers in Qatar are now permitted to check any office or home to ensure that neither water nor electricity are being wasted, and are authorised to levy steep penalties. A family in Doha recently received a $2,700 fine for wasting water, showing just how serious Qatar has become in mandating conservation.

Hopefully, the UAE can develop an equally serious approach to resource management without cumbersome and intrusive checks on individual energy consumption. First and foremost, residents in the UAE should be made aware of what their energy and water consumption actually costs, both in economic and in environmental terms. It is widely known that the UAE has one of the largest carbon footprints of any nation in the world, but until individuals understand how their decisions contribute to such waste, they will be less likely to practise conservation. A disciplinary regime such as that in Qatar may well be necessary here, but before the UAE Government follows suit it should do everything in its power to educate and inform its residents of the costs of irresponsible behaviour.

The Green Dubai initiative, establishing benchmarks for environmentally-friendly building, and Abu Dhabi's efforts through Masdar, investing in renewable technologies - valuable as they are - represent only one aspect of the work required for our nation to build a sustainable future. The Government's efforts will be undermined unless conservation also becomes an individual enterprise.

Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

'Ghostbusters: From Beyond'

Director: Jason Reitman

Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace

Rating: 2/5

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

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Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures