The Barakah nuclear power plant connected to the UAE grid for the first time last month. The National
The Barakah nuclear power plant connected to the UAE grid for the first time last month. The National
The Barakah nuclear power plant connected to the UAE grid for the first time last month. The National
The Barakah nuclear power plant connected to the UAE grid for the first time last month. The National

Barakah nuclear power plant’s first reactor now operating at 50 per cent capacity


Sarwat Nasir
  • English
  • Arabic

The Arab world’s first nuclear facility in Abu Dhabi has reached another milestone, as Unit 1 of the Barakah power plant is now operating at 50 per cent capacity.

The milestone was achieved as part of the power ascension test of the first reactor, which is an important step towards commercial operations.

Last month, first megawatts of clean electricity were dispatched from the plant to the nation once Unit 1 was connected to the power grid.

Officials made the virtual announcement on the sidelines of the 64th Annual Regular Session of the International Energy Atomic Agency on Tuesday.

This is a proud moment for everyone involved in the delivery of the Barakah Nuclear Energy Plant as we mark the continued progress being made at Unit 1

“This is a proud moment for everyone involved in the delivery of the Barakah Nuclear Energy Plant as we mark the continued progress being made at Unit 1,” said Eng Ali Al Hammadi, chief executive of Nawah Energy Company – the nuclear operator.

“We are operating Unit 1 of the Barakah Plant with an absolute commitment to safety and quality as we advance one step further towards commercial operations.”

The station consists of four units that will supply 5,600 megawatts of energy – enough to meet 25 per cent of the country’s electricity needs.

It will help prevent the release of 21 million tonnes of carbon emissions each year, which is equivalent to removing 3.2 million cars from the roads each year.

“Safety and quality-led progress continues to be made across all four Units of the Plant,” said Mohamed Ibrahim Al Hammadi, chief executive of Emirates Nuclear Energy Cooperation – the agency overseeing the project.

Testing of Unit 1’s systems is ongoing and, once completed, the reactor will become operational and deliver abundant baseload electricity for up to 18 months prior to refueling.

Construction of Unit 2 has been completed and it will soon undergo operational readiness activities.

Unit 3’s construction is 93 per cent complete and Unit 4 is 86 per cent finished. The overall construction completion rate of the power plant is at 94 per cent.

Rafael Mariano Grossi, director general of the IAEA, said the UAE has set a good example to countries that want to establish a peaceful nuclear energy programme.

“The Emirates took the right step to work hand in hand with the agency and by embracing the highest standards of safety and security from the beginning,” he said.

“You chose to follow a model through the IAEA, which was very clearly defined and other countries could follow this journey.

“I think this is a very important issue of ‘so-called newcomers’ and soon UAE will no longer be a newcomer.

“In your case, you have given a gift to the international community with a concrete, successful example of how this model is used.”

THE SPECS

Engine: Four-cylinder 2.5-litre

Transmission: Seven-speed auto

Power: 165hp

Torque: 241Nm

Price: Dh99,900 to Dh134,000

On sale: now

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Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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What is an ETF?

An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.

There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.

The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.

There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.

While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash. 

Top financial tips for graduates

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.

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ESSENTIALS

The flights

Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes. 

The trip

From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.

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Results

Ashraf Ghani 50.64 per cent

Abdullah Abdullah 39.52 per cent

Gulbuddin Hekmatyar 3.85 per cent

Rahmatullah Nabil 1.8 per cent

Tax authority targets shisha levy evasion

The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.

Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".

The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.

He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.

"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.

As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.

Gran Gala del Calcio 2019 winners

Best Player: Cristiano Ronaldo (Juventus)
Best Coach: Gian Piero Gasperini (Atalanta)
Best Referee: Gianluca Rocchi
Best Goal: Fabio Quagliarella (Sampdoria vs Napoli)
Best Team: Atalanta​​​​​​​
Best XI: Samir Handanovic (Inter); Aleksandar Kolarov (Roma), Giorgio Chiellini (Juventus), Kalidou Koulibaly (Napoli), Joao Cancelo (Juventus*); Miralem Pjanic (Juventus), Josip Ilicic (Atalanta), Nicolo Barella (Cagliari*); Fabio Quagliarella (Sampdoria), Cristiano Ronaldo (Juventus), Duvan Zapata (Atalanta)
Serie B Best Young Player: Sandro Tonali (Brescia)
Best Women’s Goal: Thaisa (Milan vs Juventus)
Best Women’s Player: Manuela Giugliano (Milan)
Best Women’s XI: Laura Giuliani (Milan); Alia Guagni (Fiorentina), Sara Gama (Juventus), Cecilia Salvai (Juventus), Elisa Bartoli (Roma); Aurora Galli (Juventus), Manuela Giugliano (Roma), Valentina Cernoia (Juventus); Valentina Giacinti (Milan), Ilaria Mauro (Fiorentina), Barbara Bonansea (Juventus)

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World Cricket League Division 2

In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.

UAE fixtures

Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final