Business activity in Dubai to resume from 6am to 11pm from May 27

News Network
May 26, 2020

Dubai, May 26: Business activities will reopen from 6am to 11pm as of Wednesday, May 27, across the emirate, it was announced on Monday.

The announcement of reopening business activities followed a virtual meeting of Dubai’s Dubai’s Supreme Committee of Crisis and Disaster Management chaired by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council.

The virtual meeting was also attended by Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, and Sheikh Mansour Bin Mohammed Bin Rashid Al Maktoum, Chairman of the committee and members of the committee.

The gradual reopening of business activities in Dubai will take place from the fourth day of Eid Al Fitr, Wednesday, May 27. Once the announcement comes into effect, there will be no restrictions on movement between 6am and 11pm.

The decision followed a comprehensive assessment of the committee’s reports, various health and socio-economic aspects and a thorough review of the COVID-19 situation. International guidelines for co-existing with COVID-19 were also taken into consideration before making the decision. The new measures are aimed at adapting to the COVID-19 situation without disrupting activity in vital sectors while strictly observing precautionary measures including wearing of face masks, observing minimum physical distancing of two metres, use of sanitisers and regular handwashing with soap and water for 20 seconds.

Sheikh Hamdan stressed on the need for Dubai authorities to further raise community awareness about precautionary measures. Highlighting Sheikh Mohammed’s statement “Everyone is responsible”, he said the community should understand the importance of strictly following preventive steps. Fully adhering to guidelines is key to restoring normal life, he added.

“We are aware of the pressures many sectors are facing because of the repercussions of the COVID-19 pandemic. The UAE society has high levels of resilience to any crises and challenges. We have been following the severe impact of the COVID-19 outbreak on countries around the world. What makes us different is our ability to deal positively with changes and our agility. We have all the elements necessary to adapt to these challenging circumstances. I am confident that all members of the society will come together to overcome this crisis as soon as possible,” Sheikh Hamdan said.

During the meeting, Sheikh Hamdan was briefed about the latest developments related to the crisis and the readiness of various sectors in Dubai, mainly the healthcare sector, to deal with any scenario in the upcoming period.

Recent proactive measures have reinforced Dubai’s ability to deal with any unforeseen situation. The emirate has enhanced its hospital capacity by joining hands with the private sector and set up a fully equipped field hospital in Dubai World Trade Centre, which can accommodate up to 3,000 beds.

Sheikh Hamdan was also briefed on the potential capacity of the field hospital at Dubai Parks and Resorts, which was built under the directives and with the generous support of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The 29,000 square metre hospital set up by the Abu Dhabi Health Services Company (SEHA) can accommodate up to 1,200 patients.

Sheikh Hamdan also reviewed preparations to gradually reopen various spheres of life while maintaining stringent precautionary and preventive measures including physical distancing, wearing of face masks, use of sanitisers and prevention of congestion and crowding. Protective measures also include guidelines on social customs and behaviour for members of the community, especially with regard to family visits.

Sheikh Hamdan was also briefed on the preparedness of key authorities in Dubai to manage the next phase, including Dubai Health Authority (DHA), COVID-19 Command and Control Centre (CCC), Dubai Police, State Security Department, Dubai Civil Defence, Dubai Ambulance, Dubai Municipality, Roads and Transport Authority (RTA), Department of Tourism and Commerce Marketing, the Department of Economic Development in Dubai (DED), Government of Dubai Media Office (GDMO) and other government entities whose efforts are key to maintaining the progress achieved in containing the COVID-19 pandemic.

Sheikh Hamdan called on all key organisations to intensify monitoring to ensure institutions, economic sectors and the public comply with all precautionary guidelines. He expressed his appreciation for the efforts of the National Emergency Crisis and Disaster Management Authority (NCEMA) and the Ministry of Health and Prevention. He also expressed his appreciation for the efforts of the Supreme Committee of Crisis and Disaster Management and all local and federal authorities to combat COVID-19. The Crown Prince affirmed that the safety and security of citizens and residents remain the highest priority of the UAE’s leadership.

The latest announcement comes as the Dubai government continues its efforts to ensure the highest level of safety for members of the community with the support of various entities. Its key recent measures have included intensified sterilisation at various areas and facilities and increased COVID-19 tests in densely populated areas to facilitate early detection of cases and isolation of people testing positive.

Dubai has deployed state-of-the-art equipment to support medical staff in conducting widespread tests. These have included tests for critical segments like people of determination and the elderly. The emirate has also enhanced monitoring of various entities to ensure compliance with precautionary measures and imposed fines on individuals and entities violating guidelines. Additionally, the Government of Dubai launched urgent economic measures to support sectors most affected by the pandemic including a Dh1.5 billion economic stimulus package introduced in March to ease the crisis’s financial impact on small and medium enterprises.

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News Network
April 25,2020

Apr 25: External Affairs Minister S Jaishankar on Friday spoke to his counterparts from Qatar, the UAE, Niger, Palestine and Czech Republic and held discussions around the coronavirus infection.

In conversation with Qatar Foreign Minister Mohammed bin Abdulrahman Al Thani, Jaishankar discussed their experience of dealing with coronavirus infection and also thanked him for taking care of the Indian community.

"A cordial conversation with FM @MBA_AlThani_ of #Qatar. Discussed our #coronavirus experiences. Thanked him for taking care of the Indian community. Such challenging times will only further strengthen our friendship," he said in a tweet.

Jaishankar also spoke to United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed.

"Pandemics further highlight the need for international cooperation. Few better examples than our relationship with #UAE. Applaud the generosity of spirit and clarity of policy that has characterised its approach. Thank HH @ABZayed for the warm conversation today," he said in another tweet.

Jaishankar also spoke to Niger Foreign Minister Kalla Ankourao and assured him of India's support in meeting the coronavirus challenge, including medicines.

"Just spoke with FM @kallaankourao of #Niger. Assured him of India's support in meeting the #coronavirus challenge, including medicines. Discussed its global implications in the context of the United Nations," he tweeted.

Jaishankar also discussed the coronavirus situation with Palestine Foreign Minister Riad Al Malki. "Welcomed speaking with FM Riad Al Malki of #Palestine. Discussed the #coronavirus situation. Assured him of Indian medical assistance," he said in a tweet.

He also exchanged experiences on coronavirus response with Czech Foreign Minister Tomas Petricek.

The minister said the two leaders agreed that there are valuable lessons for international cooperation.

"Glad to catch up with FM @TPetricek of #CzechRepublic. Exchanged our experiences on #coronavirus response. Agreed that there are valuable lessons for international cooperation. Look forward to keeping in touch," he said in a tweet.

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Agencies
March 15,2020

Riyadh, Mar 15: Saudi Aramco on Sunday reported a 20.6 percent drop in its net profit for 2019 due to low oil prices and production levels, the company said in a statement.

These are the first annual results to be announced by the energy giant after its historical $29.4 billion initial public offering and listing on the Saudi Tadawul market last December.

Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, Monday's statement said.

"The decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins," it said.

The company also made $1.6 billion of impairment provisions for losses associated with Sadara Chemical Company, an Aramco subsidiary.

"2019 was an exceptional year for Saudi Aramco. Through a variety of circumstances -- some planned and some not -- the world was offered unprecedented insight into Saudi Aramco's agility and resilience," CEO Amin Nasser said.

"Our unique scale, low costs, and resilience came together to deliver both growth and world-leading returns, while also maintaining our position as one of the world's most reliable energy companies," Nasser said.

The earnings for last year are not affected by the coronavirus outbreak or the ongoing price war between Saudi Arabia and Russia that has sent oil prices crashing.

Aramco said it will distribute dividends worth $73.2 billion for 2019 but based on its commitments under the IPO, its dividends for the next five years starting this year will be at least $75 billion.

It said its capital spending last year dropped to $32.8 billion from $35.1 billion in 2018.

The company expects capital spending, which is expenditure on projects, to be between $25 billion and $30 billion this year "in light of current market conditions and recent commodity price volatility."

But it said that capital expenditure for 2021 and beyond is currently under review.

The results were announced amid a price war between Saudi Arabia and Russia after they failed to agree on additional output cuts to support prices dented by the outbreak of the coronavirus pandemic.

"The recent COVID-19 outbreak and its rapid spread illustrate the importance of agility and adaptability in an ever-changing global landscape," Nasser said.

The kingdom said last week Aramco will pump 12.3 million barrels of oil per day, boosting output by at least 2.5 million bpd.

It also announced plans to raise production capacity from 12 million bpd to 13 million bpd.

Forecasts for future crude prices and demand are also bleak.

In its latest monthly report, the Organization of Petroleum Exporting Countries lowered its forecast for global average daily demand by 0.92 million barrels to 99.73 million barrels.

Saudi Arabia is also in the midst of a royal purge that saw King Salman's brother and nephew detained after sources said they were accused of plotting a palace coup to unseat the crown prince, heir to the Saudi throne.

Aramco shares rallied immediately after the listing on December 11, rising by 19 percent to 38 riyals ($10.1) and temporarily lifting the company's valuation above the $2 trillion mark, which was sought by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler.

But as oil prices tumble, Aramco shares have lost 29 percent from its highest point, slipping below the listing price.

On Thursday, Aramco's market value dropped to around $1.55 trillion, but it still remains the world's largest publicly listed company.

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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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