ABU DHABI // The UAE reached a crucial milestone in its nuclear energy programme yesterday with the signing in Vienna of an agreement with the United Nations' nuclear watchdog, the International Atomic Energy Agency.
The document, the Integrated Work Plan, establishes the framework for the country's collaboration with the IAEA.
It covers 19 infrastructure areas including environmental safeguards, radiation protection, emergency planning, security and legislation.
The agreement was signed on behalf of the UAE by Hamad Al Kaabi, the nation's permanent representative to the agency.
The IAEA is responsible to both the UN General Assembly and the Security Council for promoting safe, secure and peaceful nuclear technology.
Yesterday's agreement "defines all IAEA assistance to national nuclear power development activities, it is tailored to UAE needs and reflects national plans as well as recommendations from the IAEA," said Mr Al Kaabi. "By signing this work plan the UAE will be the first among nuclear newcomer countries."
The UAE is the first nation to begin construction on a nuclear power plant since China in 1985. The nuclear programme is projected to be operational in 2017.
Mr Al Kaabi said the agency was impressed with the UAE's strong commitment and its focus on sustainability.
"Developed in harmony with the UAE Country Programme Framework signed in 2011, the Integrated Work Plan focuses specifically on nuclear power and will enhance the efficiency and effectiveness of the partnership between the UAE and the IAEA," he said.
The work plan will help to coordinate the agency's various departments, such as the Technical Cooperation Department, Nuclear Energy Department, Nuclear Safety and Security Department, Safeguards Department and Office of Legal affairs.
The IAEA's assistance will include developing the country's technical expertise and human resources to guarantee the programme's sustainability and ensure it is used for socio-economic development.
It will assist in ensuring the safety and security of the programme for electricity generation, in line with nuclear non-proliferation, and build a public communications strategy.
The agency will also help the UAE to develop regulations and build an emergency response infrastructure able to respond to any nuclear or radiological emergency, in line with international standards.
Radioactive waste management assistance will also be provided to help the UAE to build its own ability to handle such waste.
The agency will also work to strengthen the Federal Authority for Nuclear Regulation. It will provide assistance in safety assessments for the nuclear units and help to develop policies regarding radioactive waste and spent fuel.
The UAE has been cooperating with the IAEA since it revealed its ambitions to develop a nuclear programme in 2007.
The UAE model calls for close and continuous coordination with the IAEA, as well as with governments and companies from responsible nuclear nations.
Among the notable commitments embodied in the UAE policy is a pledge to forgo any domestic enrichment or reprocessing capability in favour of long-term external fuel supply arrangements.
The UAE pledged to sign a number of international agreements, including the IAEA Additional Protocol, the IAEA Convention on Nuclear Safety, the IAEA Amendment to the Convention on the Physical Protection of Nuclear Material and the IAEA Joint Convention on the Safety of Spent Fuel Management.
The IAEA director general Yukiya Amano visited the UAE last January to see first-hand the progress made in the construction of the nuclear power plant at Barakah in Al Gharbia.
Mr Amano also discussed with authorities the advancement of the nuclear programme and the continuing close cooperation with the IAEA.
Last month ground was broken for the second nuclear reactor.
"So far this is the most aggressive deployment of a new programme from scratch," Mr Al Kaabi said at the time.
"Given what happened in the past two years with Fukushima and the attention that the global community paid to nuclear safety, to be able during this time to continue not only on the original plan but also adapt lessons learnt as we go on, this in itself is quite an achievement."
Emirates Nuclear Energy Corporation filed a 10,000-page construction licence application this year for the third and fourth reactors. It was 1,000 pages longer than the application to build the first two reactors that was approved in July.
amustafa@thenational.ae
Mohammed bin Zayed Majlis
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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.
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1. New Zealand Daniel Meech – Fine (name of horse), Richard Gardner – Calisto, Bruce Goodin - Backatorps Danny V, Samantha McIntosh – Check In. Team total First round: 200.22; Second round: 201.75 – Penalties 12 (jump-off 40.16 seconds) Prize €64,000
2. Ireland Cameron Hanley – Aiyetoro, David Simpson – Keoki, Paul Kennedy – Cartown Danger Mouse, Shane Breen – Laith. Team total 200.25/202.84 – P 12 (jump-off 51.79 – P17) Prize €40,000
3. Italy Luca Maria Moneta – Connery, Luca Coata – Crandessa, Simone Coata – Dardonge, Natale Chiaudani – Almero. Team total 130.82/198.-4 – P20. Prize €32,000
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Tottenham 0-1 Ajax, Tuesday
Second leg
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Game is on BeIN Sports
Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
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Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
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LA LIGA FIXTURES
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Saturday Valencia v Athletic Bilbao (5pm), Getafe v Sevilla (7.15pm), Huesca v Alaves (9.30pm), Real Madrid v Atletico Madrid (midnight)
Sunday Real Sociedad v Eibar (5pm), Real Betis v Villarreal (7.15pm), Elche v Granada (9.30pm), Barcelona v Levante (midnight)
Monday Celta Vigo v Cadiz (midnight)
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More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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Savor: Mindful Eating, Mindful Life by Thich Nhat Hanh and Dr Lilian Cheung
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yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
