Marriage loans increased to SR60,000

March 19, 2014

Marriage_loansJeddah, Mar 19: Marriage loans will be increased to SR60,000 under a new scheme approved by the Saudi Credit and Savings Bank.

The new scheme also includes lowering the age requirement for applicants for family loans. In addition, these loans will be made available for employees who earn up to SR10,000 instead of the previous SR8,000 cap.

“The main amendments to the regulations include raising the limit of marriage loans from SR45,000 to SR60,000 and allowing salary earners of up to SR10,000 to benefit from the scheme,” said Ibrahim Al-Hanichl, general manager at the bank.

The said the company’s board of directors approved cancelling the age requirement for family loans and instead adopting a new criteria that takes into account the applicant’s income and the number of dependents he is obliged to support.

“According to the new criteria, each family member’s share averages to about SR2,000,” he said.

He said applicants are eligible for a marriage loan within a year of getting married.

In addition, applicants can now seek a second loan within a year of acquiring an initial loan instead of the previous three year-period.

The bank has offered more than 600,000 loans during the past three years worth over SR27 billion. That translates to 18,000 loans and SR800 million in loans per month.

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Agencies
August 2,2020

Dubai, Aug 2: The United Arab Emirates (UAE) announced on Saturday that it has started operations in the first of four reactors at the Barakah nuclear power station - the first nuclear power plant in the Arab world.

Emirates Nuclear Energy Corporation (ENEC), which is building and operating the plant with Korea Electric Power Corporation (KEPCO) said in a press release that its subsidiary Nawah Energy Company "has successfully started up Unit 1 of the Barakah Nuclear Energy Plant, located in the Al Dhafrah Region of Abu Dhabi".

That signals that Unit 1, which had fuel rods loaded in March, has achieved "criticality" - a sustained fission chain reaction.

"The start-up of Unit 1 marks the first time that the reactor safely produces heat, which is used to create steam, turning a turbine to generate electricity," said ENEC.

Barakah, which was originally scheduled to open in 2017, has been dogged by delays and is billions of dollars over budget. It has also raised myriad concerns among nuclear energy veterans who are concerned about the potential risks Barakah could visit upon the Arabian Peninsula, from an environmental catastrophe to a nuclear arms race.

Paul Dorfman, an honorary senior research fellow at the Energy Institute, University College London and founder and chair of the Nuclear Consulting Group, has criticised the Barakah reactors' "cheap and cheerful" design that he says cuts corners on safety.

Dorfman authored a report (PDF) last year detailing key safety features Barakah's reactors lack, such as a "core catcher" to literally stop the core of a reactor from breaching the containment building in the event of a meltdown. The reactors are also missing so-called Generation III Defence-In-Depth reinforcements to the containment building to shield against a radiological release resulting from a missile or fighter jet attack.

Both of these engineering features are standard on new reactors built in Europe, says Dorfman.

There have been at least 13 aerial attacks on nuclear facilities in the Middle East - more than any other region on earth.

The vulnerability of critical infrastructure in the Arabian Peninsula was further laid bare last year after Saudi Arabia's oil facilities at Abqaiq and Khurais were attacked by 18 drones and seven cruise missiles - an assault that temporarily knocked out more than half of the kingdom's oil production.

On Saturday, Dorfman reiterated his concern that there is no regional protocol in place to determine liability should an accident or incident at Barakah result in radioactive contamination spreading from the UAE to its neighbours. 

"Given Barakah has started up, because of all the well-rehearsed nuclear safety and security problems, it may be critically important that the Gulf states collectively evolve a Nuclear Accident Liability Convention, so that if anything does go wrong, victim states may have some sort of redress," Dorfman told Al Jazeera. 

The UAE has substantial oil and gas reserves, but it has made huge investments in developing alternative energy sources, including nuclear and solar.

Experts though have questioned why the UAE - which is bathed in sunlight and wind - has pushed ahead with nuclear energy - a far more expensive and riskier option than renewable energy sources.

When the UAE first announced Barakah in 2009, nuclear power was cheaper than solar and wind. But by 2012 - when the Emirates started breaking ground to build the reactors - solar and wind costs had plummeted dramatically.

Between 2009 and 2019, utility-scale average solar photovoltaic costs fell 89 percent and wind fell 43 percent, while nuclear jumped 26 percent, according to an analysis by the financial advisory and asset manager Lazard.

There are also concerns about the potential for Barakah to foment nuclear proliferation in the Middle East - a region rife with geopolitical fault lines and well-documented history of nuclear secrecy.

The UAE has sought to distance itself from the region's bad behaviour by agreeing not to enrich its own uranium or reprocess spent fuel. It has also signed up to the United Nation's nuclear watchdog's Additional Protocol, significantly enhancing inspection capabilities, and secured a 123 Agreement with the United States that allows bilateral civilian nuclear cooperation.

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Agencies
May 7,2020

Dubai, May 7: Indians in the UAE have voiced scepticism about a "massive" operation announced by New Delhi to bring home some of the hundreds of thousands of nationals stranded by coronavirus restrictions.

"It is just propaganda," said Ishan, an Indian expatriate in Dubai, one of seven emirates in the UAE and long a magnet for foreign workers.

He was reacting to his government's announcement this week that it would deploy passenger jets and naval ships to bring home citizens stuck in a host of countries.

India's consulate in Dubai said it received about 200,000 requests from nationals seeking repatriation -- mostly workers who have lost their jobs in the pandemic.

One vessel was heading to the UAE, India's government said, while two flights were scheduled to depart the UAE for India on Thursday.

But the plans drew scorn from Ishan, who was a manager at a luxury services company before he was made redundant last month.

"It's like throwing a dog a bone," the 35-year-old complained on Wednesday, dismissing the Indian government's efforts as a drop in the ocean.

"Let's say they repatriate 400 people on the first day, and about 5,000 people in 10 days, what difference has it made?"

India banned all incoming commercial flights in late March as it imposed one of the world's strictest lockdowns to tackle the spread of coronavirus.

The UAE is home to a 3.3-million-strong Indian community, who make up around 30 per cent of the Gulf state's population.

To the anger of some Indian expatriates, the evacuees will have to pay for their passage home and spend two weeks in quarantine on arrival.

"We are upset over the failure of our government," Ishan said. "What about the people with no money? How are you helping them?"

The Indian consulate could not be reached for comment.

Ibrahim Khalil, head of the Kerala Muslim Cultural Center in Dubai, said the consulate had asked him to select 100 Indian nationals for repatriation.

"We are planning to pay for the tickets of those who cannot afford it," he said, adding that the elderly, pregnant and those suffering from illnesses were a priority.

But one Indian woman, eight months pregnant in the neighbouring emirate of Sharjah, was not one of the lucky ones chosen to go back home in one of Thursday's planned departures.

"We called them but nobody would pick up," the 26-year-old, who requested anonymity, told AFP.

She arrived in the UAE a few months ago to visit her husband, who lives in a shared apartment with another family to save money.

"We have no insurance here and the medical expenses are too costly," said the woman, who was anxious to leave to give birth at home.

"I just hope that I am chosen to go back to India. I don't know why I haven't been considered."

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Agencies
May 19,2020

Ramallah, May 19: India has given USD 2 million in aid to the United Nations Relief and Works Agency working for the welfare of Palestinian refugees in support of its core programmes and services, including education and health, amidst the coronavirus crisis.

India had increased its annual contribution to the UNRWA from USD 1.25 million in 2016 to USD 5 million in 2019. It pledged another USD 5 million for 2020 which opens its way to become a member of the agency's advisory commission, according to official sources.

The United Nations Relief and Works Agency (UNRWA) applauded India's financial support to keep its basic services operating, especially under the challenges posed by the COVID-19 pandemic.

The contribution was presented to the UN agency by the Representative of India (ROI) to the State of Palestine, Sunil Kumar.

"On behalf of the agency, I would like to express my deep appreciation to the Government of India for advancing part of its contribution, which will help UNRWA address cash flow challenges," Marc Lassouaoui, chief of the Donor Relations at the agency said.

"The continued determination and commitment of India in support of the Palestine refugees is commendable, in particular under the current circumstances brought on us by COVID-19," he said.

"On behalf of the Government of India, I would like to express my appreciation for the commendable work and endeavours carried out by the UNRWA. We believe that our contribution will support the agency's activities in providing the needed assistance to Palestinian refugees, and assist in achieving their full human development potential," Kumar said.

India's contribution will support the agency's "dire" financial situation due to the funding gaps that risk its core services to the Palestinian refugees in the fields of education and health.

About 3.1 million Palestine refugees depend on health services provided by the UNRWA. At the same time, the agency's schools educate 526,000 students every year, of which half are female.

The agency was created in December 1949 by the UN to support the relief and human development of Palestinian refugees.

The UNRWA definition of “refugee” covers Palestinians who fled or were expelled from their homes during the 1948 War.

Meanwhile, India is preparing medical supplies for the Palestinians to help them in their fight against the coronavirus which is likely to reach the Palestine soon, the Indian mission in the West Bank said in a statement.

Prime Minister Narendra Modi last month spoke to Palestinian President Mahmoud Abbas over phone and discussed the challenges posed by the COVID-19 pandemic. He appreciated efforts being made by the Palestinian Authority (PA) to protect its population and assured all possible support from India.

External Affairs Minister S Jaishankar later talked to his Palestinian counterpart Riad Malki and reiterated India's commitment to support Palestine in its battle against the global pandemic.

So far, 554 COVID-19 cases have been detected in the West Bank under PA and east Jerusalem, with two casualties.

Twenty people were found infected with the virus in Gaza, of which 14 are said to have recovered.

Separately, 17 agreements have been signed under an India-Palestine development partnership between the two sides in the fields of agriculture, health care, information technology, youth affairs, consular affairs, women empowerment and media in the past five years.

New Delhi is to provide an assistance of around USD 72 million through these agreements in projects like the post-2014 war reconstruction efforts in Gaza, construction of five schools, setting up a centre of excellence for information and communication technologies at Al-Quds University and developing a satellite centre in Ramallah.

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