The world will need more nuclear power plants as demand for electricity rises and greenhouse gas emissions threaten, Agneta Rising, the head of the World Nuclear Association, says. Christopher Pike / The National
The world will need more nuclear power plants as demand for electricity rises and greenhouse gas emissions threaten, Agneta Rising, the head of the World Nuclear Association, says. Christopher Pike / The National
The world will need more nuclear power plants as demand for electricity rises and greenhouse gas emissions threaten, Agneta Rising, the head of the World Nuclear Association, says. Christopher Pike / The National
The world will need more nuclear power plants as demand for electricity rises and greenhouse gas emissions threaten, Agneta Rising, the head of the World Nuclear Association, says. Christopher Pike /

Nuclear is the key to a greener tomorrow


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ABU DHABI // The world will need more nuclear power plants as demand for electricity rises and greenhouse gas emissions threaten, the head of the World Nuclear Association said.

“Even with the best efforts of energy efficiency, we can expect electricity demand to continue to grow over the coming decades,” said Agneta Rising, who spoke at the World Nuclear Fuel Cycle conference in Abu Dhabi on Tuesday.

“But over the past two decades there has been a growing realisation that our use of fossil fuels, which has been so important to improve our lives, also threatens to irrevocably harm us.

“Hundreds of thousands of people die each year because of the air pollution caused by fossil fuels, principally from burning coal for electricity generation and from the exhaust emissions from road transport.

“Climate change is also one of the threats of the future and it is not so far off.”

From 2006 to 2007, the UAE had among the highest greenhouse gas emissions per capita in the world. But the level of harmful gases the UAE emits will fall once the Barakah nuclear power station comes online, Ms Rising said.

“It has gone down and it is not the highest any more,” she said. “When Barakah comes online it will definitely come down too, but science must reduce global greenhouse gas emissions over the next decades.

“If you see what Abu Dhabi and the UAE is doing now with building nuclear and also having solar power, you can see a country that is going to deliver a lot to reduce carbon-dioxide emissions.”

Ms Rising said the International Atomic Energy Agency saw the possibility of electricity generation with no emissions by 2050. “A lot of new technologies have to come online and some existing technologies have to grow a lot,” she said. “Nuclear is one of those that are key to this scenario.

“Many of us visited the Barakah plant and the whole nuclear world is very proud of the progress of this project.”

But the nuclear energy sector has not grown as much as other energy sources, although electricity demand is on the rise.

In spite of the world at present experiencing its highest level of construction of nuclear reactors – 66 to date with China leading at 24 – more are needed for future projections.

“Nuclear energy has flattened out and it has not expanded as much as other energy sources have,” Ms Rising said. “There is a big task to reduce energy poverty.

“Nuclear is going to build the largest power tier, we know it is scalable and it can give long-lasting decarbonisation.”

By 2020, the Emirates Nuclear Energy Corporation’s four nuclear energy units will provide up to a quarter of the country’s electricity needs and save up to 12 million tonnes of carbon emissions every year.

“It is clear that nuclear has a vital role to play in the future energy generation of the world in order to manage global carbon emission levels,” said Dr Mohammed Chookah, Enec’s executive director of nuclear fuel procurement.

“We heard about the need for the global nuclear industry to continue in its momentum for long-term sustainability, which reaffirms Enec’s important role in the UAE’s peaceful nuclear energy programme.”

Other sources of energy, such as renewables, are said to have less benefits.

“Even if you put a lot of money in them and have very skilled people to do it, it is not easy to do it fast,” Ms Rising said. “With nuclear, you don’t need a back-up, but we need 1,000 new reactors by 2050.”

Experts said the energy mix should be balanced.

“Every country has to look at their own national resources but nuclear has to be a part of it,” said Daniel Lipman, vice president suppliers and international programmes at the Nuclear Energy Institute.

“Countries should diversify to have a balanced energy supply. We are seeing early signs that state and policymakers are beginning to recognise simple facts to see a role for nuclear and that it should be valued, but we are not doing enough, fast enough to establish policies to preserve existing fleets.”

cmalek@thenational.ae

SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

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

Crawley Town 3 (Tsaroulla 50', Nadesan 53', Tunnicliffe 70')

Leeds United 0 

Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

The Case For Trump

By Victor Davis Hanson
 

HEADLINE HERE
  • I would recommend writing out the text in the body 
  • And then copy into this box
  • It can be as long as you link
  • But I recommend you use the bullet point function (see red square)
  • Or try to keep the word count down
  • Be wary of other embeds lengthy fact boxes could crash into 
  • That's about it
Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

Indoor Cricket World Cup Dubai 2017

Venue Insportz, Dubai; Admission Free

Day 1 fixtures (Saturday)

Men 1.45pm, Malaysia v Australia (Court 1); Singapore v India (Court 2); UAE v New Zealand (Court 3); South Africa v Sri Lanka (Court 4)

Women Noon, New Zealand v South Africa (Court 3); England v UAE (Court 4); 5.15pm, Australia v UAE (Court 3); England v New Zealand (Court 4)

Squads

Pakistan: Sarfaraz Ahmed (c), Babar Azam (vc), Abid Ali, Asif Ali, Fakhar Zaman, Haris Sohail, Mohammad Hasnain, Iftikhar Ahmed, Imad Wasim, Mohammad Amir, Mohammad Nawaz, Mohammad Rizwan, Shadab Khan, Usman Shinwari, Wahab Riaz

Sri Lanka: Lahiru Thirimanne (c), Danushka Gunathilaka, Sadeera Samarawickrama, Avishka Fernando, Oshada Fernando, Shehan Jayasuriya, Dasun Shanaka, Minod Bhanuka, Angelo Perera, Wanindu Hasaranga, Lakshan Sandakan, Nuwan Pradeep, Isuru Udana, Kasun Rajitha, Lahiru Kumara

ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

If you go

The flights

Etihad and Emirates fly direct from the UAE to Chicago from Dh5,215 return including taxes.

The hotels

Recommended hotels include the Intercontinental Chicago Magnificent Mile, located in an iconic skyscraper complete with a 1929 Olympic-size swimming pool from US$299 (Dh1,100) per night including taxes, and the Omni Chicago Hotel, an excellent value downtown address with elegant art deco furnishings and an excellent in-house restaurant. Rooms from US$239 (Dh877) per night including taxes. 

First Person
Richard Flanagan
Chatto & Windus 

MATCH INFO

Champions League quarter-final, first leg

Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

THE SPECS

Engine: 2.0-litre 4-cylinder turbo

Power: 275hp at 6,600rpm

Torque: 353Nm from 1,450-4,700rpm

Transmission: 8-speed dual-clutch auto

Top speed: 250kph

Fuel consumption: 6.8L/100km

On sale: Now

Price: Dh146,999

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

AL%20BOOM
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WIDE%20VIEW
%3Cp%3EThe%20benefits%20of%20HoloLens%202%2C%20according%20to%20Microsoft%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EManufacturing%3A%3C%2Fstrong%3E%20Reduces%20downtime%20and%20speeds%20up%20onboarding%20and%20upskilling%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEngineering%20and%20construction%3A%3C%2Fstrong%3E%20Accelerates%20the%20pace%20of%20construction%20and%20mitigates%20risks%20earlier%20in%20the%20construction%20cycle%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EHealth%20care%3A%3C%2Fstrong%3E%20Enhances%20the%20delivery%20of%20patient%20treatment%20at%20the%20point%20of%20care%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEducation%3A%3C%2Fstrong%3E%20Improves%20student%20outcomes%20and%20teaches%20from%20anywhere%20with%20experiential%20learning%3C%2Fp%3E%0A

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.”

Get Out

Director: Jordan Peele

Stars: Daniel Kaluuya, Allison Williams, Catherine Keener, Bradley Whitford

Four stars

Without Remorse

Directed by: Stefano Sollima

Starring: Michael B Jordan

4/5

MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)

Brief scoreline:

Wales 1

James 5'

Slovakia 0

Man of the Match: Dan James (Wales)

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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

5pm: UAE Martyrs Cup (TB) Conditions Dh90,000 2,200m

Winner: Mudaarab, Jim Crowley (jockey), Erwan Charpy (trainer).

5.30pm: Wathba Stallions Cup (PA) Handicap Dh70,000 1,400m

Winner: Jawal Al Reef, Richard Mullen, Hassan Al Hammadi.

6pm: UAE Matyrs Trophy (PA) Maiden Dh80,000 1,600m

Winner: Salima Al Reef, Jesus Rosales, Abdallah Al Hammadi.

6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige Dh100,000 1,600m

Winner: Bainoona, Ricardo Iacopini, Eric Lemartinel.

7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige Dh125,000 1,600m

Winner: Assyad, Victoria Larsen, Eric Lemartinel.

8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1 Dh5,000,000 1,600m

Winner: Mashhur Al Khalediah, Jean-Bernard Eyquem, Phillip Collington.