A view of the damaged building after a fire broke out at Iran's Natanz nuclear facility, in Isfahan, Iran, on July 2, 2020. Reuters
A view of the damaged building after a fire broke out at Iran's Natanz nuclear facility, in Isfahan, Iran, on July 2, 2020. Reuters
A view of the damaged building after a fire broke out at Iran's Natanz nuclear facility, in Isfahan, Iran, on July 2, 2020. Reuters
A view of the damaged building after a fire broke out at Iran's Natanz nuclear facility, in Isfahan, Iran, on July 2, 2020. Reuters

Iran rules out attack as cause of nuclear site incident


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A member of an influential Iranian security body said on Friday it had ruled out drone or missile attacks as the cause of an incident at a nuclear site earlier this month.

The incident occurred at a warehouse under construction at the Natanz nuclear complex in central Iran on July 2, but caused no casualties or radioactive pollution, according to Iran's nuclear body.

"What is certain is that in our view, a drone, missile, bomb or rocket attack is not the case," ISNA news agency quoted Mojtaba Zolnour, head of parliament's national security and foreign affairs committee, as saying.

"There are traces of an explosion from elements on the inside (of the building) but since investigations are ongoing, I will not disclose the details," he added.

Iran's Supreme National Security Council announced on July 3 that the "cause of the accident" at Natanz had been "accurately determined" but declined to release details, citing security reasons.

State news agency IRNA at the time published an editorial warning Iran's arch-foes against hostile actions.

It said Israeli social media accounts had claimed the Jewish state was behind the incident, without identifying the accounts.

A spokesman for the Iranian Atomic Energy Organisation has acknowledged that the incident caused "significant financial damage" and that the building had been designed to produce "advanced centrifuges."

Tehran announced in May last year it would progressively suspend certain commitments under a 2015 landmark nuclear deal with major powers.

The United States unilaterally abandoned the accord in 2018.

Iran restarted enriching uranium at Natanz last September, despite having agreed under the accord to put such activities there on hold.

Tehran has always denied its nuclear programme has any military dimension.

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UAE currency: the story behind the money in your pockets

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Favourite book: Men are from Mars Women are from Venus

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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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Company name: OneOrder

Started: October 2021

Founders: Tamer Amer and Karim Maurice

Based: Cairo, Egypt

Industry: technology, logistics

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Background: M&A, investment banking

Studied: Corporate finance

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Al Bateen beach
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Price, base: Dh315,000

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2002 Giselle Khoury (Colombia)

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How will Gen Alpha invest?

Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.

“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.

Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.

He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.

Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”

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• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.

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• For more information visit the library network's website.

Safety 'top priority' for rival hyperloop company

The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.

He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.

“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.

“Only once the system has been certified and approved will it move people,” he said.

HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon. 

With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.

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