Dr Paul Sullivan is a non-resident senior fellow at the Atlantic Council and senior research associate at the King Faisal Centre for Research and Islamic Studies
August 04, 2022
Coral reefs cover 1 per cent of the ocean floor, but support 25 per cent of the known marine life of the planet. They are the nurseries for much of the fish and marine life that we enjoy and consume.
One billion people rely on coral reefs for employment, income, food and protection, either directly or indirectly. Hundreds of millions of jobs are associated with reefs, such as diving, tourism and fishing. As well as being a major source of protein for many people, coral reefs are also potential sources of important medicines for arthritis, cancer and blood diseases.
They add $36 billion to world tourism income and they may add as much as $3 trillion to the world economy. Coral reefs protect land, properties and ecosystems surrounding them. As they are superb wave breaks, many coastal communities, hotel chains, industries and governments rely on them. But the world has lost 50 per cent of its reefs since 1950, and their biodiversity has dropped by 63 per cent. If this trend continues we may lose 90 per cent of them by 2050.
The greatest threats to reefs are global warming, pollution, overbuilding, overfishing and illegal fishing, population growth and the increased acidity of the ocean; 25 per cent of carbon dioxide emissions are absorbed by the ocean, making it more acidic. More than 90 per cent of increased heat as a result of climate change is absorbed by the sea.
The shells will help to form biological building blocks to create artificial reefs. All photos: Dubai Oyster Project
Pupils from The Arbor School in Dubai have teamed up with a restaurant group for the Dubai Oyster Project.
They are using used oyster shells from The Maine restaurants in Dubai, which are usually just thrown out and end up in landfills, to create artificial reefs.
They placed more than 250,000 of the used shells near the Ghantoot border.
They used illegal fishing nets seized by authorities to help transport the shells to the water's edge.
The project will also help to reduce the amount of food waste.
The subsequent rise in temperature and acidity cause coral bleaching and disease. The massive bleaching events in the Great Barrier Reef are horrific examples of this. Corals in the GCC have suffered a similar fate. Fortunately, some northern Red Sea corals have so far not been harmed as much by rising temperatures, but that does not mean they won’t be if the trend continues.
The population of the GCC has grown vastly, especially since the 1970s. Along with this rise in population came the growth of industry, shipping and cities. All of this has put pressure on reefs. Tourism, another sector that has seen significant expansion in the region, can be damaging to reefs.
Fortunately, laws and regulations have changed in many areas of the GCC. And ecotourism in some places is now actually becoming a means to help protect reefs.
In the years ahead, tourism as a percentage of GDP has the potential to be much more than the present 8 per cent in Oman, as much as 10 per cent for Saudi Arabia, more than 12 per cent for the UAE and almost 17 per cent for Bahrain.
Saudi Arabia has great plans for ecotourism. Neom, a vast new and futuristic city the government is investing in, will have coral reefs as part of its tourism plan. The UAE is also developing marine ecotourism. In 2021, the ecotourism sector in the GCC was worth more than $500 million, with the UAE and Saudi Arabia dominating.
The region’s fishing sector is relatively small, but its imports are huge. GCC consumers, therefore, can also help fragile reefs by using their purchasing power to move exporters to more sustainable methods of fishing.
Australia's Great Barrier Reef. Getty
In terms of official initiatives to protect marine ecosystems, Saudi Arabia is pursuing the huge investment of the Saudi Green Initiative. Vision 2030, the county’s development plan up until 2030, also has provisions for the environment, and the kingdom is currently pursuing eco-partnerships with Unesco and Monaco’s Prince Albert II Foundation, among many other international organisations. The Red Sea Development Corporation is also taking up the mantle.
For the UAE’s part, the country has been taking action: from sinking boat hulls to create artificial reefs, to outlawing sand removal and certain types of fishing that damage reefs. The country has also developed many marine protected areas and parks and has toughened up laws and regulations to protect reefs.
There is important work also being done in other parts of the GCC. Petroleum Development Oman and Sultan Qaboos University have some significant coral development projects, among many other legal, regulatory and research efforts.
Bahrain is rebuilding coral reefs ruined by the dredging of canals with the help of The Rotary Club, an international humanitarian organisation.
The G20’s Coral Research and Development Accelerator Platform, the Kuwait Convention for the Protection and Development of the Marine Environment and Coastal Areas, as well as the Regional Organisation for the Protection of the Marine Environment, based in Kuwait, are other examples of GCC multinational approaches to this important issue.
Each of these countries could benefit massively from protecting their reefs. Future ecotourism incomes could be many times what they are now, and many jobs could be created. Most of all, protecting reefs is an important responsibility for safeguarding the region’s natural heritage for future generations. Can any country afford to lose these delicate and life-sustaining places? The answer is a resounding no.
Dr Paul Sullivan is a senior non-resident fellow at the Atlantic Council
Where to submit a sample
Volunteers of all ages can submit DNA samples at centres across Abu Dhabi, including: Abu Dhabi National Exhibition Centre (Adnec), Biogenix Labs in Masdar City, NMC Royal Hospital in Khalifa City, NMC Royal Medical Centre, Abu Dhabi, NMC Royal Women's Hospital, Bareen International Hospital, Al Towayya in Al Ain, NMC Specialty Hospital, Al Ain
Red flags
Promises of high, fixed or 'guaranteed' returns.
Unregulated structured products or complex investments often used to bypass traditional safeguards.
Lack of clear information, vague language, no access to audited financials.
Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 258hp from 5,000-6,500rpm
Torque: 400Nm from 1,550-4,000rpm
Transmission: Eight-speed auto
Fuel consumption: 6.1L/100km
Price: from Dh362,500
On sale: now
ETFs explained
Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.
There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
The biog
Favourite hobby: taking his rescue dog, Sally, for long walks.
Favourite book: anything by Stephen King, although he said the films rarely match the quality of the books
Favourite film: The Shawshank Redemption stands out as his favourite movie, a classic King novella
Favourite music: “I have a wide and varied music taste, so it would be unfair to pick a single song from blues to rock as a favourite"
Leading all-time NBA scorers
Kareem Abdul-Jabbar 38,387
Karl Malone 36,928
Kobe Bryant 33,643
Michael Jordan 32,292
LeBron James 31,425
Wilt Chamberlain 31,419
Reason: It will be at the forefront of project financing for government-led projects
Analyst: Shabbir Malik of EFG-Hermes
Top pick: Al Rajhi Bank
Reason: Defensive balance sheet, well positioned in retail segment and positively geared for rising rates
Analyst: Chiradeep Ghosh of Sico Bank
Top pick: Arab National Bank
Reason: Attractive valuation and good growth potential in terms of both balance sheet and dividends
Fireball
Moscow claimed it hit the largest military fuel storage facility in Ukraine, triggering a huge fireball at the site.
A plume of black smoke rose from a fuel storage facility in the village of Kalynivka outside Kyiv on Friday after Russia said it had destroyed the military site with Kalibr cruise missiles.
"On the evening of March 24, Kalibr high-precision sea-based cruise missiles attacked a fuel base in the village of Kalynivka near Kyiv," the Russian defence ministry said in a statement.
Ukraine confirmed the strike, saying the village some 40 kilometres south-west of Kyiv was targeted.
UAE currency: the story behind the money in your pockets
Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:
1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.
2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.
3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.
4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Fatherland
Kele Okereke
(BMG)
As You Were
Liam Gallagher
(Warner Bros)
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
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
List of alleged parties
May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff
May 20, 2020: They attend 'bring your own booze party'
Nov 27, 2020: PM gives speech at leaving party for his staff
Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson
Dec 13, 2020: PM and his wife throw a party
Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters
Dec 15, 2020: PM takes part in a staff quiz
Dec 18, 2020: Downing Street Christmas party
How to apply for a drone permit
Individuals must register on UAE Drone app or website using their UAE Pass
Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
Upload the training certificate from a centre accredited by the GCAA
Submit their request
What are the regulations?
Fly it within visual line of sight
Never over populated areas
Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
Users must avoid flying over restricted areas listed on the UAE Drone app
Only fly the drone during the day, and never at night
Mr Al Qassimi is 37 and lives in Dubai
He is a keen drummer and loves gardening
His favourite way to unwind is spending time with his two children and cooking
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The Lowdown
Us
Director: Jordan Peele
Starring: Lupita Nyong'o, Winston Duke, Shahadi Wright Joseqph, Evan Alex and Elisabeth Moss
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
• Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.
• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
• Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.
• Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.