The energy transition is the biggest investment programme since the Industrial Revolution. Humankind is facing a huge challenge in our fight against climate change.
The Mena region is especially affected by climate change because it is warming twice as fast as the rest of the world. Extreme heat and water shortages have been a reality here for decades.
In the summer of 2022, we saw the other extreme: several states in the Mena region experienced flooding as a result of storms with heavy rainfall, with dried-up riverbeds turned into raging torrents.
We need to act now if we want to achieve rapid change. The recent Intergovernmental Panel on Climate Change (IPCC) report has made it abundantly clear that without major changes, global warming will increase to 3.2°C above pre-industrial levels. To limit warming to 1.5°C above pre-industrial levels, emissions need to be cut by 45 per cent by 2030, compared with 2019 levels.
Europe and Mena: Similar, yet different
However, the energy transition will only happen if a solution can be found to the “trilemma” of making energy more reliable, cheaper and sustainable.
This is clearly demonstrated by the situation in Europe, which is currently learning the painful lesson that its dependence on Russian gas has led to unprecedented price increases and concerns about the supply situation.
People are seriously questioning whether there is enough energy available and whether it will remain affordable. The short-term focus has shifted to the security and affordability of the supply.
In the Mena region, the question of reliable and affordable energy is less of an issue. The key challenge in the region is to produce it sustainably. Due to its geographical location, the region has immense potential for generating renewable energy — and it has recognised the signs of the time.
According to the International Energy Agency’s Renewables 2020 report, this is the fastest-growing renewable energy market.
The comparison between Europe and the Mena region highlights the fact that there is not only one energy transition; every region has its own challenges, every country has different obstacles and goals, and, therefore, needs specific answers to drive their energy transition.
Along with Roland Berger, we asked about 2,000 experts to participate in a survey focused on a set of crucial energy priorities and to report on their region’s progress in the energy transition. We used this data to calculate each region’s Energy Transition Readiness Index and compiled a report describing their perceived readiness for the transition to net zero.
Here is a key finding of the report, which is due to be published on January 23: while there is no one-size-fits-all solution, five universal fields of action are central to the success of the energy transition.
Approach to energy transition: Five points of consistency
- Expansion of renewables: By 2050, we need to massively expand the share of renewable energies: It has to triple to four times its current share in Europe and increase by a factor of 10 to even 30 in the Mena region, compared with 2020. The Saudi Energy Minister’s announcement last December that the kingdom will invest $150 billion in renewables is, therefore, a step in the right direction. The good news is that these investments pay off financially. According to a new World Economic Forum analysis, every dollar invested in expanding renewable energy yields four times the benefit.
- Improve energy efficiency: The continuous increase in energy demand due to economic growth and the growing population counteracts all of our current efforts to reduce emissions. Therefore, the first and most important task is to conserve energy, wherever possible. This will also require innovation as we move forward with more electrification and better energy management. In Dubai, one of our gas turbines has been installed in an aluminium smelter for the first time. For Emirates Global Aluminium, the power plant is reducing greenhouse gas emissions by 10 per cent, the equivalent of planting more than 17 million trees every year.
- Strengthen the electrical grid: The increasing share of renewable energy calls for more robust grids. For developing countries in particular, this is an even more significant challenge. For example, Siemens Energy is supporting Saudi Arabia's grid reinforcement plan by building stabilisation stations.
- Use existing infrastructure as a bridge: Despite massive investments that we all need to make, we can’t overlook one fact: The existing infrastructure can and should be used to bridge the gap, even if it is based on conventional technology.
In other words, push for everything you want to have but do not allow the pursuit of new technology to delay you in taking actions in the short term that utilise what is already in place. We will have to use the existing infrastructure to maintain the balance between the security and sustainability of the supply. To cite an example, in the Ivory Coast, we built the most efficient gas-fired power plant in the region. It will help to reduce the area’s carbon footprint from power generation and support the country’s efforts in becoming a regional energy centre.
• Get a handle on the supply chain and required minerals: More materials and minerals are needed for the energy transition. A typical electric car requires six times the mineral input of a conventional vehicle, and an onshore wind plant requires nine times more mineral resources than a gas-fired plant. Since 2010, the average amount of minerals needed for a new unit of power generation capacity has increased by 50 per cent as the share of renewables in new investments has risen.
The industry has a clear-cut responsibility
There is a huge need to massively hasten the energy transition. It comes along with the biggest investment programme since industrialisation. About €50 trillion ($54 trillion) will need to be invested by 2030, which will bring enormous opportunities for economic recovery and growth. Let us work together on this in 2023.
As an industry, we are committing ourselves to the task. Shortly before Abu Dhabi Sustainability Week, the International Renewable Energy Agency assembly was held in Abu Dhabi. Governments, businesses and societies assembled to discuss concrete steps to accelerate the global energy transition.
Along with the Alliance for Industrial Decarbonisation, Irena and Siemens Energy have already brought together about 30 major industrial companies in a pledge to decarbonise their industrial value chains and accelerate their net-zero goals in accordance with the Paris Agreement.
We must make decisive progress ahead of the Cop28 conference, which will be held in the UAE later this year. The time to act is now.
Dr Christian Bruch is chief executive of Siemens Energy
More on Quran memorisation:
MATCH INFO
Al Jazira 3 (O Abdulrahman 43', Kenno 82', Mabkhout 90 4')
Al Ain 1 (Laba 39')
Red cards: Bandar Al Ahbabi (Al Ain)
Emirates Cricket Board Women’s T10
ECB Hawks v ECB Falcons
Monday, April 6, 7.30pm, Sharjah Cricket Stadium
The match will be broadcast live on the My Sports Eye Facebook page
Hawks
Coach: Chaitrali Kalgutkar
Squad: Chaya Mughal (captain), Archara Supriya, Chamani Senevirathne, Chathurika Anand, Geethika Jyothis, Indhuja Nandakumar, Kashish Loungani, Khushi Sharma, Khushi Tanwar, Rinitha Rajith, Siddhi Pagarani, Siya Gokhale, Subha Srinivasan, Suraksha Kotte, Theertha Satish
Falcons
Coach: Najeeb Amar
Squad: Kavisha Kumari (captain), Almaseera Jahangir, Annika Shivpuri, Archisha Mukherjee, Judit Cleetus, Ishani Senavirathne, Lavanya Keny, Mahika Gaur, Malavika Unnithan, Rishitha Rajith, Rithika Rajith, Samaira Dharnidharka, Shashini Kaluarachchi, Udeni Kuruppuarachchi, Vaishnave Mahesh
Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
The biog
Favourite pet: cats. She has two: Eva and Bito
Favourite city: Cape Town, South Africa
Hobby: Running. "I like to think I’m artsy but I’m not".
Favourite move: Romantic comedies, specifically Return to me. "I cry every time".
Favourite spot in Abu Dhabi: Saadiyat beach
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Company%20Profile
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Virtuzone GCC Sixes
Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
Time Matches start at 9am
Groups
A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; C Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs
What is an FTO Designation?
FTO designations impose immigration restrictions on members of the organisation simply by virtue of their membership and triggers a criminal prohibition on knowingly providing material support or resources to the designated organisation as well as asset freezes.
It is a crime for a person in the United States or subject to the jurisdiction of the United States to knowingly provide “material support or resources” to or receive military-type training from or on behalf of a designated FTO.
Representatives and members of a designated FTO, if they are aliens, are inadmissible to and, in certain circumstances removable from, the United States.
Except as authorised by the Secretary of the Treasury, any US financial institution that becomes aware that it has possession of or control over funds in which an FTO or its agent has an interest must retain possession of or control over the funds and report the funds to the Treasury Department.
Source: US Department of State
500 People from Gaza enter France
115 Special programme for artists
25 Evacuation of injured and sick
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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The view from The National
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
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
UAE currency: the story behind the money in your pockets
Porsche Macan T: The Specs
Engine: 2.0-litre 4-cyl turbo
Power: 265hp from 5,000-6,500rpm
Torque: 400Nm from 1,800-4,500rpm
Transmission: 7-speed dual-clutch auto
Speed: 0-100kph in 6.2sec
Top speed: 232kph
Fuel consumption: 10.7L/100km
On sale: May or June
Price: From Dh259,900
RESULTS
6.30pm Handicap (TB) US$65,000 (Dirt) 1,400m
Winner Golden Goal, Pat Dobbs (jockey), Doug Watson (trainer)
7.05pm Dubai Racing Club Classic Listed Handicap (TB) $88,000 (Turf) 2,410m
Winner: Walton Street, William Buick, Charlie Appleby.
7.40pm Dubai Stakes Group 3 (TB) $130,000 (D) 1,200m
Winner Switzerland, Tadhg O’Shea, Satish Seemar
8.15pm Singspiel Stakes Group 3 (TB) $163,000 (T) 1,800m
Winner Lord Giltters, Adrie de Vries, David O’Meara
8.50pm Al Maktoum Challenge Round-1 (TB) $228,000 (D) 1,600m
Winner Military Law, Antonio Fresu, Musabah Al Muhairi.
9.25pm Al Fahidi Fort Group 2 (TB) $163,000 (T) 1,400m
Winner Land Of Legends, Frankie Dettori, Saeed bin Suroor
10pm Dubai Dash Listed Handicap (TB) $88,000 (T) 1,000m
Winner Equilateral, Frankie Dettori, Charles Hills.
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
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WITHIN%20SAND
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
WWE Super ShowDown results
Seth Rollins beat Baron Corbin to retain his WWE Universal title
Finn Balor defeated Andrade to stay WWE Intercontinental Championship
Shane McMahon defeated Roman Reigns
Lars Sullivan won by disqualification against Lucha House Party
Randy Orton beats Triple H
Braun Strowman beats Bobby Lashley
Kofi Kingston wins against Dolph Zigggler to retain the WWE World Heavyweight Championship
Mansoor Al Shehail won the 50-man Battle Royal
The Undertaker beat Goldberg
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
Empires%20of%20the%20Steppes%3A%20A%20History%20of%20the%20Nomadic%20Tribes%20Who%20Shaped%20Civilization
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FORSPOKEN
%3Cp%3EDeveloper%3A%20Luminous%20Productions%0D%3Cbr%3EPublisher%3A%20Square%20Enix%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%0D%3Cbr%3ERelease%20date%3A%20January%3C%2Fp%3E%0A
Company%20of%20Heroes%203
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Star%20Wars%20Jedi%3A%20Survivor
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Suicide%20Squad%3A%20Kill%20the%20Justice%20League
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Street%20Fighter%206
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Diablo%20IV
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Baldur's%20Gate%203
%3Cp%3EDeveloper%3A%20Larian%20Studios%0D%3Cbr%3EPublisher%3A%20Larian%20Studios%0D%3Cbr%3EConsole%3A%20PC%0D%3Cbr%3ERelease%20date%3A%20August%3C%2Fp%3E%0A
The%20Legend%20of%20Zelda%3A%20Tears%20of%20The%20Kingdom
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Marvel's%20Spider-Man%202
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Assassin's%20Creed%20Mirage
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Starfield
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Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
RESULTS
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What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
