Etihad Rail, the developer of the UAE railway network, has joined forces with Borouge, the joint venture between Adnoc and Austrian chemicals producer Borealis, to ensure more sustainable transport.
Under the agreement, Etihad Rail will transport 1.3 million tonnes of Borouge’s polyolefins annually from its petrochemical complex in Al Ruways Industrial City for export to customers.
Sheikh Theyab bin Mohamed, member of Abu Dhabi Executive Council, chairman of Emirates Council for Balanced Development and chairman of Etihad Rail, witnessed the signing of the terms sheet for the strategic partnership, Abu Dhabi Government Media Office said in a statement on Tuesday.
“This important collaboration between Borouge and Etihad Rail contributes to the growth of Abu Dhabi’s industrial sector and will support Borouge’s ongoing drive to optimise its logistics platform, lowering both its operating costs and carbon emissions,” said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, Adnoc managing director and group chief executive, and chief executive and chairman of Borouge.
“The partnership reinforces Borouge’s resilience and accelerates the export of its Made In UAE products using more sustainable modes of transport, while underlining the partners’ commitment to the UAE’s Net Zero by 2050 Strategic Initiative.”
Established in 1998, Borouge is a petrochemical company that employs more than 3,000 people and serves customers in more than 50 countries across Asia, the Middle East and Africa.
It provides polyolefin solutions for the agricultural, infrastructure, energy, advanced packaging, mobility and healthcare industries.
Adnoc owns 54 per cent of the company, while Borealis controls 36 per cent.
Its partnership with Etihad Rail also supports the national In-Country Value programme, with 88 per cent of the value flowing back into the local economy, boosting economic diversification and growth, the statement said.
The agreement also includes the development of a rail freight terminal in Al Ruways Industrial City, extending over an area of more than one million square metres, where the terminal will handle loading and unloading as well as storage and maintenance of shipping containers.
By using rail, the time required to transport Borouge’s products will be reduced to four hours compared with 12 hours through other modes of transport.
“This strategic partnership comes in line with Etihad Rail's efforts to provide logistics solutions to some of the country’s largest companies, where they can transport goods through the rail network at reduced costs and time,” Sheikh Theyab said.
“In doing so, Etihad Rail also contributes to reducing carbon emissions, in line with the objectives of the UAE.”
Sheikh Theyab also led a meeting with representatives of private rail industry companies to discuss the commercial opportunities provided by the UAE National Rail Network to the private sector.
He announced the formation of an advisory committee for enhancing the private sector’s benefits from the National Rail Network.
Etihad Rail has successfully reserved 60 per cent of the network’s annual transport capacity through the commercial agreements it has signed with key companies.
The Etihad Rail line will span about 1,200km and link 11 cities and areas across the UAE, from the border with Saudi Arabia to Fujairah in the north.
Its new high-tech trains were unveiled in August, with the diesel and electricity-operated locomotives providing 4,600 brake horsepower.
Notable Yas events in 2017/18
October 13-14 KartZone (complimentary trials)
December 14-16 The Gulf 12 Hours Endurance race
March 5 Yas Marina Circuit Karting Enduro event
March 8-9 UAE Rotax Max Challenge
57%20Seconds
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Western Region Asia Cup Qualifier
Results
UAE beat Saudi Arabia by 12 runs
Kuwait beat Iran by eight wickets
Oman beat Maldives by 10 wickets
Bahrain beat Qatar by six wickets
Semi-finals
UAE v Qatar
Bahrain v Kuwait
Switching%20sides
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Start-up hopes to end Japan's love affair with cash
Across most of Asia, people pay for taxi rides, restaurant meals and merchandise with smartphone-readable barcodes — except in Japan, where cash still rules. Now, as the country’s biggest web companies race to dominate the payments market, one Tokyo-based startup says it has a fighting chance to win with its QR app.
Origami had a head start when it introduced a QR-code payment service in late 2015 and has since signed up fast-food chain KFC, Tokyo’s largest cab company Nihon Kotsu and convenience store operator Lawson. The company raised $66 million in September to expand nationwide and plans to more than double its staff of about 100 employees, says founder Yoshiki Yasui.
Origami is betting that stores, which until now relied on direct mail and email newsletters, will pay for the ability to reach customers on their smartphones. For example, a hair salon using Origami’s payment app would be able to send a message to past customers with a coupon for their next haircut.
Quick Response codes, the dotted squares that can be read by smartphone cameras, were invented in the 1990s by a unit of Toyota Motor to track automotive parts. But when the Japanese pioneered digital payments almost two decades ago with contactless cards for train fares, they chose the so-called near-field communications technology. The high cost of rolling out NFC payments, convenient ATMs and a culture where lost wallets are often returned have all been cited as reasons why cash remains king in the archipelago. In China, however, QR codes dominate.
Cashless payments, which includes credit cards, accounted for just 20 per cent of total consumer spending in Japan during 2016, compared with 60 per cent in China and 89 per cent in South Korea, according to a report by the Bank of Japan.
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
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Sand storm
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- Duration: Short-lived, typically localised
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- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
'Brazen'
Director: Monika Mitchell
Starring: Alyssa Milano, Sam Page, Colleen Wheeler
Rating: 3/5
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Asuka won the SmackDown Women's title in a TLC triple threat with Becky Lynch and Charlotte Flair
Dean Ambrose won the Intercontinental title against Seth Rollins
Daniel Bryan retained the WWE World Heavyweight Championship against AJ Styles
Ronda Rousey retained the Raw Women's Championship against Nia Jax
Rey Mysterio beat Randy Orton in a chairs match
Finn Balor defeated Drew McIntyre
Natalya beat Ruby Riott in a tables match
Braun Strowman beat Baron Corbin in a TLC match
Sheamus and Cesaro retained the SmackDown Tag Titles against The Usos and New Day
R-Truth and Carmella won the Mixed Match Challenge by beating Jinder Mahal and Alicia Fox
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
RESULT
Los Angeles Galaxy 2 Manchester United 5
Galaxy: Dos Santos (79', 88')
United: Rashford (2', 20'), Fellaini (26'), Mkhitaryan (67'), Martial (72')
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1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
