Emirates Global Aluminium, the UAE’s largest industrial company outside the oil and gas sector, has teamed up with beverage producers, can makers and waste management companies to launch an aluminium recycling initiative in the UAE amid the country's push for a greener economy.
The Aluminium Recycling Coalition aims to drive a “step-change” in recycling the metal in the UAE and to promote aluminium recycling by consumers, particularly beverage cans, EGA said in a statement.
The coalition includes EGA, Abu Dhabi Waste Management Company (Tadweer), Aujan Coca-Cola Beverages Company, Coca-Cola Al Ahlia Beverages Company, BeeahTandeef, Pepsi-bottler Dubai Refreshment, Canpack, Crown Bevcan, Dulsco Group and France-based resource management group Veolia.
“Aluminium demand is expected to grow worldwide by between 50 per cent and 80 per cent by 2050, because of the key role of this infinitely recyclable material in achieving net zero,” said Mariam Almheiri, UAE Minister of Climate Change and Environment.
“Co-operation throughout the value chain, such as the Aluminium Recycling Coalition, will speed the decarbonisation of our economy in line with the Net Zero by 2050 strategic initiative.”
A March 2022 study by the International Aluminium Institute (IAI), a body representing the global primary aluminium industry, showed that more than 70 per cent of the material used in aluminium cans is recycled into new products — almost double that of glass (34 per cent) and plastic (40 per cent).
It also found that aluminium cans best support a circular economy, and that compared with aluminium cans, more glass and plastic bottles end up in landfills because they are not collected.
The UAE's Aluminium Recycling Coalition will "enhance the UAE’s position as a global leader in international efforts towards green development, support our 2031 goals on the circular economy and contribute to building a knowledge-based economy that is more resilient and competitive", Abdullah bin Touq, UAE Minister of Economy, said.
Recycling plastic bottles to earn free Abu Dhabi bus rides - in pictures
Last year, EGA announced plans to build an aluminium recycling plant with a capacity of 150,000 tonnes per year as it looks to decarbonise its operations.
EGA was also the first Middle East-based company to join the Aluminium Stewardship Initiative, a global body that sets sustainability standards for the industry.
“Recyclability is one reason aluminium is so important for human progress, but every day as a society we throw too much of this valuable metal away," Abdulnasser bin Kalban, chief executive of EGA, said.
"By championing the Aluminium Recycling Coalition, EGA aims to increase aluminium recycling rates in the UAE to the benefit of our society and economy."
The UAE is aiming to achieve net zero by 2050 with new investments worth Dh600 billion ($163.5 billion) planned in clean and renewable energy sources over the next three decades.
EGA, one of the world's largest aluminium producers, has smelters in Abu Dhabi and Dubai.
The company is developing its own technology to decarbonise operations and reduce emissions. Its aluminium is shipped to more than 50 countries. EGA generates about Dh20 billion in economic activity yearly and supports more than 60,000 jobs in the UAE.
The aluminium sector accounts for 1.4 per cent of the UAE economy.
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Company profile
Name: Back to Games and Boardgame Space
Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)
Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)
Based: Dubai and Abu Dhabi
Industry: Back to Games (retail); Boardgame Space (wholesale and distribution)
Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space
Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019
How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
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Killing of Qassem Suleimani
Fifa Club World Cup quarter-final
Esperance de Tunis 0
Al Ain 3 (Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)
UAE currency: the story behind the money in your pockets
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.
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Killing of Qassem Suleimani
The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
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