Sharjah residents were left without electricity from 11pm on Friday until 4.30am on Saturday. Pawan Singh / The National
Sharjah residents were left without electricity from 11pm on Friday until 4.30am on Saturday. Pawan Singh / The National

Power cut offers valuable lessons



The power cut that affected hundreds of homes in Sharjah on Friday evening was caused by a technical error. Power cuts are bothersome and difficult to withstand for the old and the young alike, especially at night and especially at this time of year, when lighting and air-conditioning are essential. Perhaps even more so during the month of Ramadan. However, this is the first such incident in many years and massive steps have been taken to bring large-scale improvements to the power grid in the emirate since 2010.

While power cuts hit various areas of the emirate in 2010 and 2011, more recent summers have, until now, passed without major incident. The Sharjah Water and Electricity Authority increased network capacities in various parts of the city, in parallel with energy efficiency programmes, periodic and preventive maintenance to upgrade the grid’s performance.

The authority also implemented extensive development projects to upgrade the power grid. In 2015, power generators were replaced and electricity pylons removed in several neighbourhoods to replace overhead cables with underground cables. This rendered power lines less vulnerable to humidity and heat, and thus less susceptible to power cuts.

Coping with the needs of a population that nearly doubled in five years, from 2010 to 2015, was definitely a challenge. Urban development resulting from demographic growth throughout the emirate, in addition to the growth that accompanied developments in Sharjah’s economy, have now further increased demand. It will only go higher as the heat of the summer sets in.

Awareness campaigns have been carried out to inform consumers about factors that contribute to power failures. This is key to ensuring the grid is not crowded with old energy-sapping electronics. Sharing energy-saving methods with households could also contribute to alleviate the pressure, as Sharjah plans to reduce power consumption by 30 per cent by 2020.​

MATCH INFO

Manchester United 1 (Rashford 36')

Liverpool 1 (Lallana 84')

Man of the match: Marcus Rashford (Manchester United)

Results:

Men's 100m T34: 1. Walid Ktila (TUN) 15 sec; 2. Rheed McCracken (AUS) 15.40; 3. Mohammed Al Hammadi (UAE) 15.75. Men's 400m T34: 1. Walid Ktila (TUN) 50.56; 2. Mohammed Al Hammadi (UAE) 50.94; 3. Henry Manni (FIN) 52.24.

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

BANGLADESH SQUAD

Mashrafe Mortaza (captain), Tamim Iqbal, Liton Das, Soumya Sarkar, Mushfiqur Rahim (wicketkeeper), Mahmudullah, Shakib Al Hasan (vice captain), Mohammad Mithun, Sabbir Rahaman, Mosaddek Hossain, Mohammad Saifuddin, Mehidy Hasan Miraz, Rubel Hossain, Mustafizur Rahman, Abu Jayed (Reporting by Rohith Nair in Bengaluru Editing by Amlan Chakraborty)

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

Match info

Liverpool 3
Hoedt (10' og), Matip (21'), Salah (45+3')

Southampton 0

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Company Profile 

Founder: Omar Onsi

Launched: 2018

Employees: 35

Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

Barbie

Director: Greta Gerwig
Stars: Margot Robbie, Ryan Gosling, Will Ferrell, America Ferrera
Rating: 4/5

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.