Adnoc's CTO on how a tech push will define the energy industry's future: Business Extra


Kelsey Warner
  • English
  • Arabic

Adnoc recently hosted more than 30 chief technical officers from the oil, gas and petrochemicals industry to discuss decarbonisation and future fuels.

Adnoc's chief technology officer Alan Nelson joins co-hosts Mustafa Alrawi and Kelsey Warner to discuss his view of the online conference and the path forward for an industry in transition.  The state-owned oil company plans to speed up  its use of digital technology to increase its production capacity to 5 million barrels per day by 2030, as it looks to generate cost efficiencies and cut emissions.

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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets

Normal People

Sally Rooney, Faber & Faber
 

Profile of RentSher

Started: October 2015 in India, November 2016 in UAE

Founders: Harsh Dhand; Vaibhav and Purvashi Doshi

Based: Bangalore, India and Dubai, UAE

Sector: Online rental marketplace

Size: 40 employees

Investment: $2 million

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

Scores in brief:

Boost Defenders 205-5 in 20 overs
(Colin Ingram 84 not out, Cameron Delport 36, William Somerville 2-28)
bt Auckland Aces 170 for 5 in 20 overs
(Rob O’Donnell 67 not out, Kyle Abbott 3-21).

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