DUBAI //Abu Dhabi and Dubai are implementing ambitious projects to meet the growth in demand for energy. The emirates have some of the world's highest levels of electricity use per person.
The projects include the development of the Dh73 billion Barakah nuclear plant by 2017, and the aggressive shift towards solar power and renewable energy - core principles of the UAE's future sustainability policy - and are spearheaded by the Supreme Council for Energy.
According to a Power UAE report this month by Global Business Reports, a provider of industry-specific studies, the UAE's increasing population and industrial development has driven demand for electricity.
Experts calculate that electricity demand in the region would grow by between 8 and 12 per cent annually for the next decade thanks to population growth and industry.
"Abu Dhabi is an industrial centre and Dubai is a tourism, real estate and industry hub in the region but the demand is growing very quickly all over the country," said Dr Hassan Noura, a professor at UAE University's department of electrical engineering.
Dr Noura said that, despite the rapid rise in demand, Abu Dhabi and Dubai had coped well over the past five years and were even surpassing the demand for energy with supply.
Last week, a Dh15 billion raft of power and water projects were announced for the Northern Emirates - Ajman, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain.
Mohammed Saleh, director general of the Federal Electricity and Water Authority (Fewa), said multimillion-dirham projects were also being implemented in the eastern, western and central regions.
Dr Noura said: "Industry is growing in the Northern Emirates but at a much slower rate than in Abu Dhabi and Dubai."
Since 2009, the level of growth and development in the north has seen a rapid increase in energy consumption, which has added to the area's existing power-shortage problems.
Fewa stated in 2010 that chronic power shortages in the Northern Emirates would be brought under control within two years.
At the time, the authority told the Federal National Council that it would be able to meet the deadline because Abu Dhabi would continue feeding electricity into the federal grid and because Fewa was expanding the electricity network.
Mr Saleh said last week that the Government of Abu Dhabi had hugely supported power supply to the Northern Emirates by feeding 1,300 megawatts of electricity into the federal network.
He said the federal network in the Northern Emirates would be completely dependant on supply from Abu Dhabi by the end of the year.
The director general of Abu Dhabi Water and Electricity Authority (Adwea), Abdulla Saif Al Nuaimi, said economic diversification and demographics had been driving the development of the power and water sectors in Abu Dhabi and around the GCC. This underscores the fact that the region is not only one of the fastest growing, but also holds the most potential in global electricity markets, he added.
Last year, Abu Dhabi's Executive Council gave the green light for a large power plant to help meet the growing need for electricity in the capital and Northern Emirates.
The plant, due to be completed in 2015, will be built in Mirfa, in the Western Region, with the capacity to generate 1,500 megawatts of electricity and desalinate 53 million gallons of water a day.
"The project is targeted to satisfy the increasing demand for electricity, which escalates annually by 11 per cent, in addition to the commitment of Adwea to satisfy the requirements of the Northern Emirates," Mr Al Nuaimi said.
Adwea supplied 2,000 megawatts to the Northern Emirates alone in 2011, he added, a commitment that will almost double by 2015.
amustafa@thenational.ae
Company%20profile
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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.
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
MATCH INFO
Everton 2 Southampton 1
Everton: Walcott (15'), Richarlison (31' )
Southampton: Ings (54')
Man of the match: Theo Walcott (Everton)
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
ETFs explained
Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.
There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.
Opening Rugby Championship fixtures: Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
MO
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The Facility’s Versatility
Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
How to help
Donate towards food and a flight by transferring money to this registered charity's account.
Account name: Dar Al Ber Society
Account Number: 11 530 734
IBAN: AE 9805 000 000 000 11 530 734
Bank Name: Abu Dhabi Islamic Bank
To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
The%C2%A0specs%20
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Pros%20and%20cons%20of%20BNPL
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UAE currency: the story behind the money in your pockets
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
Previous men's records
- 2:01:39: Eliud Kipchoge (KEN) on 16/9/19 in Berlin
- 2:02:57: Dennis Kimetto (KEN) on 28/09/2014 in Berlin
- 2:03:23: Wilson Kipsang (KEN) on 29/09/2013 in Berlin
- 2:03:38: Patrick Makau (KEN) on 25/09/2011 in Berlin
- 2:03:59: Haile Gebreselassie (ETH) on 28/09/2008 in Berlin
- 2:04:26: Haile Gebreselassie (ETH) on 30/09/2007 in Berlin
- 2:04:55: Paul Tergat (KEN) on 28/09/2003 in Berlin
- 2:05:38: Khalid Khannouchi (USA) 14/04/2002 in London
- 2:05:42: Khalid Khannouchi (USA) 24/10/1999 in Chicago
- 2:06:05: Ronaldo da Costa (BRA) 20/09/1998 in Berlin
'C'mon C'mon'
Director:Mike Mills
Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman
Rating: 4/5