MENA region
GCC
A regional power grid is in the making, but energy subsidies continue to discourage investment in electricity projects as power demand rises. More countries are seeking to develop nuclear power.
North Africa
Most states are exploiting gas to expand power generation. Renewable energy development is progressing faster than in the Gulf.
Algeria
The government plans US$20 billion (Dh73.45bn) of investment in gas and power by 2017, with a 2,000mw gas-fired power plant to be completed later this year. A 25mw integrated gas and solar project should start up next month.
Bahrain
Abu Dhabi has provided a $50 million loan for upgrades to a power plant and the island's electricity grid, which is slated for connection to the UAE grid in January.
Cyprus
The government has disbursed only 10 per cent of funds gathered from consumers to back renewable energy projects after rejecting dozens of applications.
Egypt
The government has cut subsidies to encourage gas development for power generation and plans to add 1,000mw of wind power capacity.
Gaza
Israeli fuel supplies to Gaza's only power plant are intermittent. Gazans receive power for as little as eight hours a day.
Iraq
Violent protests over power shortages have prompted the electricity minister to resign. Most Iraqis depend on private generators.
Iran
The country's power grid may be close to failure due to lack of investment and the government is urging electricity conservation. Tehran has suffered summer power cuts.
Israel
A giant offshore gasfield is being developed and further discoveries seem likely, potentially making Israel self-sufficient in gas and power.
Kuwait
The emirate is building its first new power plant in more than 20 years, hoping to end summer power cuts. In June, parliament approved reducing the public working day to save electricity.
Lebanon
The government plans to spend $1.5bn on its problem-ridden electricity system. It will buy gas from Qatar for power generation and plans to clamp down on electricity theft and corruption at the state utility. Beirut residents took to the streets in May to protest power cuts and blocked the airport highway with burning tyres.
Libya
The government plans to convert oil-fired power stations to gas and add more gas-fired generation as power demand expands. A recent large gas discovery will help.
Morocco
The country recently inaugurated the region's largest wind farm under a plan to install 2,000mw each of wind and solar capacity by 2020.
Oman
Power cuts are uncommon in Oman and the power authority is progressing with planned generating capacity additions.
Qatar
The emirate with the most gas inaugurated a 2,000mw power plant in May and will commission a second in coming months. It expects to become a power exporter.
Saudi Arabia
Power cuts recently grounded planes and caused school children to pass out while taking exams. The kingdom is struggling to add enough generating capacity to meet rising power demand and is planning a nuclear programme.
Syria
The World Bank estimates the state's power sector needs $11bn of investment in its inefficient power sector to eliminate a worsening power shortage.
Tunisia
The country is developing new gas discoveries for power generation and plans to link its power grid to Italy's.
Turkey
The country has taken rebounding power demand in its stride while privatising its grid. It has signed deals with Russia and South Korea for two nuclear power plants.
UAE
Sharjah has suffered crippling power cuts for a second consecutive summer. With gas production slipping further behind demand, power shortages are unlikely to end until 2017 when Abu Dhabi brings its first nuclear reactor into service.
Yemen
Rapid urbanisation is worsening a catastrophic power shortage. As Sanaa, the capital, draws electricity from 20-year-old diesel-fired facilities, Yemen exports gas.
South Asia
Bangladesh
Inadequate electricity infrastructure has become the county's major political hot button.
India
The government is building nuclear plants to end a long-running power crisis and plans significant solar power development.
Nepal
A four-year electricity crisis drags on. "Transmission congestion" has replaced "drought" as the official reason for power cuts.
Pakistan
A worsening electricity crisis, blamed on lack of government planning and inefficiency, has sparked violent demonstrations.
Central Asia
Uzbekistan
The country's decision to withdraw from the Central Asian electricity grid threatens an energy crisis in Tajikistan and Kyrgyzstan. Kazakhstan is seeking to restore the common electricity system but could be thwarted by regional ethnic tensions.
Afghanistan
Power generation has fallen by two thirds since last year as armed strife continues.
Kazakhstan
A second north-south transmission line was completed last September, eliminating chronic power shortages in the south.
Asia Pacific and Australasia
Australia
Investment of at least A$100bn (Dh319.15bn) is needed to avert power shortages, according to the country's energy minister. Sydney, the biggest city, has suffered a series of power cuts.
Cambodia
A Malaysian firm is building the first coal-fired power plant in a country severely undersupplied with electricity and is considering a second project.
China
Electricity consumption is setting records. The government is targeting the annual development of 60,000mw of new generation capacity, consisting mainly of hydro and coal-fired plants.
Indonesia
Development agencies have lent $325m for upgrading power transmission networks.
Philippines
A severe drought cut hydropower output, causing power cuts on the southern island of Mindanao.
Vietnam
An extended drought reducing hydropower output threatens summer power cuts and the government is urging conservation. Twelve coal-fired power projects should break ground next year.
Sub-Saharan Africa
Inadequate, unreliable, expensive electricity supply is hindering development, according to the Gambian energy minister, who called for public-private-sector partnerships to solve the problem.
Ethiopia
The state electrical utility expects to start exporting power to Djibouti and Sudan next year.
Ivory Coast
The state is rationing electricity exports to several neighbours and importing power from Ghana. Power cuts have sparked public protests.
Kenya
The government is considering nuclear power to reduce over-reliance on hydro-electricity and vulnerability to droughts.
Nigeria
Officials are preparing a plan to sell off the inadequate state electricity system in what could be one of Africa's biggest privatisations.
Rwanda
The government signed a $325m contract for a project to generate power from methane trapped at the bottom of Lake Kivu.
Senegal
The country's energy minister apologised last week for "more than intolerable" power cuts, after a week of protests. The oil-fired engines running aging power plants were damaged by contaminated fuel, he said.
South Africa
The World Bank has approved a $3.75bn loan to finance a high-efficiency coal-fired generating plant aimed at ending a three-year electricity crisis. A power cut during the World Cup stranded 2,000 fans when commuter trains stopped running.
Sudan
A 1,250mw hydropower project on the upper Nile, built with Chinese and Arab funding, has doubled the country's power-generation capacity. China has also financed a 405mw thermal power project in central Sudan and provided a loan for building a transmission network. Sudan and Ethiopia linked their power grids in July.
Tanzania
Equipment failure at hydroelectricity stations and the Zanzibar facility receiving power from the mainland caused power cuts and electricity rationing. The country lacks spare parts and qualified repairmen.
Uganda
The government plans more hydropower projects, but most inhabitants still burn traditional biomass for energy.
Zimbabwe
Power cuts are jeopardising economic recovery, according to the prime minister, Morgan Tsvangirai, who criticised the state utility for poor service and overpaying senior management.
Europe
European energy security jitters, revived by a recent Russia-Belarus gas spat, are stoking the region's renewable energy agenda during difficult economic times.
France
Energy workers went on strike last month to protest against government plans to raise the retirement age and reform state pensions.
Germany, Italy, Spain
Governments announced plans to cut solar power subsidies, prompting industry protests.
Russia
Power consumption has rebounded to pre-recession levels, increasing the need for upgrades to the dilapidated national grid. The US and Russia have agreed to co-operate on energy efficiency and clean energy.
UK
The country remains well supplied with power due to new liquefied natural gas imports from Qatar. It has launched an ambitious programme to build offshore wind farms.
The Americas
North America
A recent power cut affecting New York, Cleveland, Detroit and parts of Canada has drawn attention to the vulnerability of the continent's ageing power grid. Massive investment is needed for upgrades.
Caribbean
The introduction of regulatory entities and market competition, as well as renewable energy development, promise to transform the region's power sector.
Haiti
A devastating earthquake ravaged the electricity grid, which still requires extensive repairs.
Nicaragua
Nicaragua is building wind farms to reduce power shortages.
Brazil
The country with Latin America's biggest electricity market is already highly dependent on hydropower but plans another massive project in the Amazon region. Environmentalists and aboriginals oppose the development.
Chile
Power was restored within weeks of a powerful earthquake. Discussions about security upgrades followed.
Venezuela
A drought that cut hydropower output forced draconian conservation measures. The government has announced $3bn of investment in thermal generation by 2015.
tcarlisle@thenational.ae
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Results
3pm: Maiden Dh165,000 (Dirt) 1,400m, Winner: Lancienegaboulevard, Adrie de Vries (jockey), Fawzi Nass (trainer).
3.35pm: Maiden Dh165,000 (Turf) 1,600m, Winner: Al Mukhtar Star, Adrie de Vries, Fawzi Nass.
4.10pm: Handicap Dh165,000 (D) 2,000m, Winner: Gundogdu, Xavier Ziani, Salem bin Ghadayer.
4.45pm: Handicap Dh185,000 (T) 1,200m, Winner: Speedy Move, Sean Kirrane, Satish Seemar.
5.20pm: Handicap Dh185,000 (D) 1,600m, Winner: Moqarrar, Dane O’Neill, Erwan Charpy.
5.55pm: Handicap Dh175,000 (T) 1,800m, Winner: Dolman, Richard Mullen, Satish Seemar.
The specs
Engine: 3.5-litre twin-turbo V6
Power: 380hp at 5,800rpm
Torque: 530Nm at 1,300-4,500rpm
Transmission: Eight-speed auto
Price: From Dh299,000 ($81,415)
On sale: Now
Remaining Fixtures
Wednesday: West Indies v Scotland
Thursday: UAE v Zimbabwe
Friday: Afghanistan v Ireland
Sunday: Final
The biog
Age: 46
Number of Children: Four
Hobby: Reading history books
Loves: Sports
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The biog
Name: Mariam Ketait
Emirate: Dubai
Hobbies: I enjoy travelling, experiencing new things, painting, reading, flying, and the French language
Favourite quote: "Be the change you wish to see" - unknown
Favourite activity: Connecting with different cultures
Cry Macho
Director: Clint Eastwood
Stars: Clint Eastwood, Dwight Yoakam
Rating:**
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Engine: 5.6-litre V8
Transmission: seven-speed automatic
Power: 400hp
Torque: 560Nm
Price: Dh234,000 - Dh329,000
On sale: now
What is dialysis?
Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.
It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.
There are two kinds of dialysis — haemodialysis and peritoneal.
In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.
In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.
It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
SPEC%20SHEET
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FROM%20THE%20ASHES
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The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Palestine and Israel - live updates
The Kingfisher Secret
Anonymous, Penguin Books
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
Company%C2%A0profile
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Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape
Killing of Qassem Suleimani
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
COMPANY%20PROFILE
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
The%20trailblazers
%3Cp%3ESixteen%20boys%20and%2015%20girls%20have%20gone%20on%20from%20Go-Pro%20Academy%20in%20Dubai%20to%20either%20professional%20contracts%20abroad%20or%20scholarships%20in%20the%20United%20States.%20Here%20are%20two%20of%20the%20most%20prominent.%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EGeorgia%20Gibson%20(Newcastle%20United)%3C%2Fstrong%3E%0D%3Cbr%3EThe%20reason%20the%20academy%20in%20Dubai%20first%20set%20up%20a%20girls%E2%80%99%20programme%20was%20to%20help%20Gibson%20reach%20her%20potential.%20Now%20she%20plays%20professionally%20for%20Newcastle%20United%20in%20the%20UK.%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMackenzie%20Hunt%20(Everton)%3C%2Fstrong%3E%0D%3Cbr%3EAttended%20DESS%20in%20Dubai%2C%20before%20heading%20to%20the%20UK%20to%20join%20Everton%20full%20time%20as%20a%20teenager.%20He%20was%20on%20the%20bench%20for%20the%20first%20team%20as%20recently%20as%20their%20fixture%20against%20Brighton%20on%20February%2024.%0D%3C%2Fp%3E%0A
EMERGENCY PHONE NUMBERS
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now