Abu Dhabi was chosen as the headquarters of the International Renewable Energy Agency.
Abu Dhabi was chosen as the headquarters of the International Renewable Energy Agency.

What the future holds for alternative energy



Leading figures from the global energy industry gathered in Abu Dhabi last month to discuss the challenges of rising energy demand at the third World Future Energy Summit. As the event in Abu Dhabi highlighted, there is an increasing realisation that traditional forms of energy such as coal, oil and gas are finite and, in many cases, have long-term negative effects on the global climate. The drive towards a greener UAE is central to Abu Dhabi's 2030 plan, and as the city was recently chosen as the centre for the International Renewable Energy Agency (IRENA), such ambitions are sure to be aided by a move towards renewables. However, this is not to say that the adoption of renewable energy would be at the expense of traditional energy.

Of course, the region is rich in traditional energy resources. Alternative energy, even with the technological developments that have been made, is still more expensive than oil and gas. Oil, gas and coal remain the most widely consumed, low cost, readily available fuels and will continue to be key energy sources for decades to come. They also remain a highly efficient source of fuel (particularly for transportation), providing outstanding energy output per gallon or litre. Humanity has yet to find a proven alternative to fossil fuels (for transportation) that is as convenient and practical. Global energy consumption is set to grow by more than 30 per cent between now and 2030, according to the Energy Information Administration (EIA). It will be many decades before there is likely to be a "silver bullet" to replace fossil fuels, and it is likely that a combination of energy sources will be key to our future. This combination of energy sources to be used as power could include wind - onshore and offshore - solar, geothermal and wave, also known as tidal. Coal-bed methane could be used as an alternative source of gas, and bio-energy sources could be used for fuels with crops and algae converted to ethanol, harnessed as a fuel or fuel supplement. In addition, carbon capture and storage (CCS) could be used as the means to harness coal resources without contributing to global warming. This is an area where Senergy has been actively supporting offshore operators and onshore power generators. For example, we have completed more than 40 CCS and carbon dioxide enhanced oil recovery (EOR) projects over the past five years.

The signs are already there. The global renewable industry is already worth about US$150 billion (Dh550.96bn) per annum, and investment in sustainable energy innovation is already substantial, with just under $25bn spent worldwide in 2008. Many people ask me why we need alternative forms of energy. In the long term, alternative, or renewable energy, will contribute to addressing the ever increasing demand for energy driven primarily by population growth and economic development. There is also the issue of security of supply; many countries have limited access to fossil fuels but have untapped renewable resources. In such cases, alternative energy may be viewed as nationally important for security. Alternative energy is, in the longer term, also likely to contribute significantly to maintaining the affordability of energy supplies. With increasing demand and traditional energy resources of a finite nature, there is potential for cost escalations and price volatility, which in themselves are significant reasons for developing alternative sources sooner rather than later.

So what is the motivation for oil companies and governments to pursue alternative energy? This is open to debate, but in some cases I believe oil companies have been, and still are, pursuing alternative energy purely for commercial reasons. It is also probably true that some see it as a corporate social responsibility (CSR) project, while for others alternative energy has been a public relations exercise with many riding the news agenda focused on "saving the planet".

For Senergy, it is much more than that. Alternative energy is a real solution and is increasingly important for the sustainability of our economies and societies. If companies have been viewing alternative energy as a CSR project, in a certain way, this is a positive step, as they have been demonstrating concern for issues and priorities outside pure financial return. However, if the driver for companies has been purely for public relations purposes, this can be potentially damaging to their reputation.

For governments, I think it's quite a different story. Several countries (including the US) are seeing the enormous benefits of pursuing alternative energy strategies; these include the economic benefits linked to the emergence of new industries and technologies. The extent to which different countries are making faster or slower progress on alternative energy is undoubtedly down to a combination of factors. Sometimes it may be due to a lack of commitment from politicians and other leaders, but there are sometimes more complex factors such as the shape and structure of a country's power industry, the sophistication and maturity of the planning regimes, the state of power transmission and distribution infrastructure, the abundance or shortfall in local oil and gas resources and the need to diversify a country's economy.

I see traditional energy and alternative energy working side by side and not against each other. There are obvious mutual benefits in working together such as sharing skills, supply chain infrastructure and technical know-how. For instance, there are a number of skills that are immediately transferable from the offshore oil and gas industry to the offshore wind sector. Similarly, there is room for sharing skills and technology between onshore oil and gas and carbon capture and storage, coal-bed methane and geothermal; and in areas such as geoscience, reservoir engineering and drilling.

Just as there are areas of opportunity, there are also potential challenges on the horizon. There will be competition for the same equipment and people. Increasing oil and gas prices would benefit renewable energy by raising overall energy prices and making renewable energy a more economically viable solution. However, increased demand for oil and gas also increases the demand for skilled personnel such as drilling engineers, geophysicists, as well as equipment. This highlights how the cost for developing resources such as geothermal can increase rapidly when oil and gas prices climb and therefore offset the potential benefit that higher energy prices would bring to the renewables sector.

What is required is a concerted effort to increase the efficiency and effectiveness of alternatives. In many parts of the world with little or no oil and gas, there are large volumes of untapped renewable energy and the potential to establish generation and power supply where it would be difficult to set up oil and gas import infrastructure. Importantly, there is no "fuel cost", therefore future cost of production is more predictable as there is no exposure to global commodity market price fluctuations.

The whole industry, and indeed the world, will benefit from having sustainable sources of energy. To many, alternative energy here in the Middle East is unnecessary, given the abundance of traditional energy resources in the region. As demonstrated by the World Future Energy Summit, the Middle East, and the UAE in particular, has the opportunity to make use of its existing position as a leader in world energy to also become a world leader in future energy. This process already seems to be gathering momentum with the designation of Abu Dhabi as IRENA's global headquarters.

As is well documented, oil and gas will not last forever and the region will need industries and sectors that live on beyond the end of traditional energy resources. With the world urgently seeking a balanced portfolio of energy solutions, there is a real opportunity for the UAE to position itself not as an impediment to change, but as a key player in the future of energy. James McCallum is the chief executive of Senergy, an international integrated energy business based in Abu Dhabi

Emergency phone numbers in the UAE

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

FIXTURES

All times UAE ( 4 GMT)

Friday
Saint-Etienne v Montpellier (10.45pm)

Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)

Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)

The more serious side of specialty coffee

While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.

The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.

Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”

One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.

Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms. 

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The low down on MPS

What is myofascial pain syndrome?

Myofascial pain syndrome refers to pain and inflammation in the body’s soft tissue. MPS is a chronic condition that affects the fascia (­connective tissue that covers the muscles, which develops knots, also known as trigger points).

What are trigger points?

Trigger points are irritable knots in the soft ­tissue that covers muscle tissue. Through injury or overuse, muscle fibres contract as a reactive and protective measure, creating tension in the form of hard and, palpable nodules. Overuse and ­sustained posture are the main culprits in developing ­trigger points.

What is myofascial or trigger-point release?

Releasing these nodules requires a hands-on technique that involves applying gentle ­sustained pressure to release muscular shortness and tightness. This eliminates restrictions in ­connective tissue in orderto restore motion and alleviate pain. ­Therapy balls have proven effective at causing enough commotion in the tissue, prompting the release of these hard knots.

Fifa Club World Cup quarter-final

Esperance de Tunis 0
Al Ain 3
(Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)

Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months

A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars

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
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
The Matrix Resurrections

Director: Lana Wachowski

Stars:  Keanu Reeves, Carrie-Anne Moss, Jessica Henwick 

Rating:****

COMPANY PROFILE
Company name: BorrowMe (BorrowMe.com)

Date started: August 2021

Founder: Nour Sabri

Based: Dubai, UAE

Sector: E-commerce / Marketplace

Size: Two employees

Funding stage: Seed investment

Initial investment: $200,000

Investors: Amr Manaa (director, PwC Middle East) 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

The%20Mother%20
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Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
  • Stay invested: Time in the market, not timing the market, is critical to long-term gains.
  • Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
  • Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
 
 

Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.

Pupils in Abu Dhabi are learning the importance of being active, eating well and leading a healthy lifestyle now and throughout adulthood, thanks to a newly launched programme 'Healthy Lifestyle'.

As part of the Healthy Lifestyle programme, specially trained coaches from City Football Schools, along with Healthpoint physicians have visited schools throughout Abu Dhabi to give fun and interactive lessons on working out regularly, making the right food choices, getting enough sleep and staying hydrated, just like their favourite footballers.

Organised by Manchester City FC and Healthpoint, Manchester City FC’s regional healthcare partner and part of Mubadala’s healthcare network, the ‘Healthy Lifestyle’ programme will visit 15 schools, meeting around 1,000 youngsters over the next five months.

Designed to give pupils all the information they need to improve their diet and fitness habits at home, at school and as they grow up, coaches from City Football Schools will work alongside teachers to lead the youngsters through a series of fun, creative and educational classes as well as activities, including playing football and other games.

Dr Mai Ahmed Al Jaber, head of public health at Healthpoint, said: “The programme has different aspects - diet, exercise, sleep and mental well-being. By having a focus on each of those and delivering information in a way that children can absorb easily it can help to address childhood obesity."

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Profile

Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari

Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.

Number of employees: Over 50

Financing stage: Series B currently being finalised

Investors: Series A - Audacia Capital 

Sector of operation: Transport

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

On sale: Now

UAE squad v Australia

Rohan Mustafa (C), Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Fahad Nawaz, Amjed Gul, Shaiman Anwar, Ahmed Raza, Imran Haider, Muhammad Naveed, Amir Hayat, Ghulam Shabir (WK), Qadeer Ahmed, Tahir Latif, Zahoor Khan

Biog

Age: 50

Known as the UAE’s strongest man

Favourite dish: “Everything and sea food”

Hobbies: Drawing, basketball and poetry

Favourite car: Any classic car

Favourite superhero: The Hulk original

Company%20profile
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Earth under attack: Cosmic impacts throughout history

4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon

- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.

50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater

1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.  

1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.

1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.

-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
MATCH INFO

Uefa Champions League semi-final, first leg

Tottenham 0-1 Ajax, Tuesday

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

Game is on BeIN Sports