A global search for alternative sources to Russian energy during the war in Ukraine has refocused attention on smaller, easier-to-build nuclear power stations, which proponents say could provide a cheaper, more efficient alternative to older model mega-plants.
UK-based Rolls-Royce SMR says its small modular reactors (SMRs) are much cheaper and quicker to get running than standard plants, delivering the kind of energy security that many nations are seeking.
France already relies on nuclear power for most of its electricity, and Germany kept the option of reactivating two nuclear plants it will shut down at the end of the year as Russia cuts natural gas supplies.
While Rolls-Royce SMR and its competitors have signed deals with countries from Britain to Poland to start building the stations, they are many years away from operating and cannot solve the energy crisis now hitting Europe.
Nuclear power also poses risks, including disposing of highly radioactive waste and keeping that technology out of the hands of rogue countries or nefarious groups that may pursue a nuclear weapons programme.
Those risks have been accentuated after shelling around Europe's largest nuclear power plant in Zaporizhzhia, Ukraine, which has raised fears of potential nuclear disaster.
Due to the war, however, “the reliance on gas imports and Russian energy sources has focused people’s minds on energy security”, Rolls-Royce SMR spokesman Dan Gould said.
An SMR’s components can be built in a factory, moved to a site in tractor trailers and assembled there, making the technology more attractive to frugal buyers, he said.
“It is like building Lego,” Mr Gould said. “Building on a smaller scale reduces risks and makes it a more investible project.”
SMRs are essentially pressurised water reactors identical with some 400 reactors worldwide. The key advantages are their size — about one tenth as big as a standard reactor — the ease of construction and the price tag.
The estimated cost of a Rolls-Royce SMR is £2.2 billion to £2.8bn pounds ($2.5bn to $3.2bn), with an estimated construction time of five and a half years.
That is two years faster than it took to build a standard nuclear plant between 2016 and 2021, according to International Atomic Energy Agency statistics.
Some estimates put the cost of building a 1,100 megawatt nuclear plant at between $6bn and $9bn. Rolls-Royce aims to build its first stations in the UK within five and a half years, Mr Gould said.
Similarly, Oklahoma-based NuScale Power signed agreements last year with two Polish companies — copper and silver producer KGHM and energy producer Unimot — to explore the possibility of building SMRs to power heavy industry.
Poland wants to switch from polluting, coal-powered electricity generation.
Rolls-Royce SMR said last month that it signed a deal with Dutch development company ULC-Energy to look into setting up SMRs in the Netherlands.
Another partner is Turkey, where Russia is building the Akkuyu nuclear power plant on the southern coast. Environmentalists say the region is seismically active and could be a target for terrorists.
The introduction of “unproven” nuclear power technology in the form of SMRs doesn't sit well with environmentalists, who argue that proliferation of small reactors will exacerbate the problem of how to dispose of highly radioactive nuclear waste.
“Unfortunately, Turkey is governed by an incompetent administration that has turned it into a ‘test bed’ for corporations,” said Koray Dogan Urbarli, a spokesman for Turkey's Green Party.
“It is giving up the sovereignty of a certain region for at least 100 years for Russia to build a nuclear power plant. This incompetence and lobbying power make Turkey an easy target for SMRs,” said Mr Koray.
His party eschews technology with an “uncertain future”, he said.
Mr Gould said one Rolls-Royce SMR would generate nuclear waste the size of a “tennis court piled one metre high” throughout the plant’s 60-year lifetime.
He said initially, waste would be stored on site at the UK plants and would eventually be transferred to a long-term disposal site selected by the British government.
Any country acquiring nuclear reactors automatically enhances its capacity to make nuclear weapons. Every SMR could produce around 10 bombs worth of plutonium each year
MV Ramana,
professor at the University of British Columbia
MV Ramana, professor of public policy and global affairs at the University of British Columbia, cites research suggesting that there is “no demonstrated way” to ensure nuclear waste stored in what authorities consider to be secure sites won't escape in the future.
The constant heat generated by the waste could alter rock formations where it is stored and allow water seepage, while future mining activities could compromise a nuclear waste site's integrity, said Mr Ramana, who specialises in international security and nuclear energy.
Sceptics also raise the risks of possibly exporting such technology in politically tumultuous regions.
Mr Gould said Rolls-Royce is “completely compliant” with UK and international requirements in exporting its SMR technology “only in territories that are signatories to the necessary international treaties for the peaceful use of nuclear power for energy generation”.
However, Mr Ramana said there is no guarantee nations will follow the rules.
“Any country acquiring nuclear reactors automatically enhances its capacity to make nuclear weapons,” he said, adding that every SMR could produce “around 10 bombs worth of plutonium each year”.
Rolls-Royce SMR could opt to stop supplying fuel and other services to anyone flouting the rules, but “should any country choose to do so, it can simply tell the International Atomic Energy Agency to stop inspections, as Iran has done, for example”, Mr Ramana said.
Although spent fuel normally undergoes chemical reprocessing to generate the kind of plutonium used in nuclear weapons, Mr Ramana said such reprocessing technology is widely known and that a very sophisticated reprocessing plant is not required to produce the amount of plutonium needed for weapons.
Brief scoreline:
Manchester United 2
Rashford 28', Martial 72'
Watford 1
Doucoure 90'
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3ENetflix%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EKris%20Fade%2C%20Ebraheem%20Al%20Samadi%2C%20Zeina%20Khoury%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Six pitfalls to avoid when trading company stocks
Following fashion
Investing is cyclical, buying last year's winners often means holding this year's losers.
Losing your balance
You end up with too much exposure to an individual company or sector that has taken your fancy.
Being over active
If you chop and change your portfolio too often, dealing charges will eat up your gains.
Running your losers
Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.
Selling in a panic
If you sell up when the market drops, you have locked yourself out of the recovery.
Timing the market
Even the best investor in the world cannot consistently call market movements.
Scorebox
Sharjah Wanderers 20-25 Dubai Tigers (After extra-time)
Wanderers
Tries Gormley, Penalty
Cons Flaherty
Pens Flaherty 2
Tigers
Tries O’Donnell, Gibbons, Kelly
Cons Caldwell 2
Pens Caldwell, Cross
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
COMPANY%20PROFILE
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T20 World Cup Qualifier
Final: Netherlands beat PNG by seven wickets
Qualified teams
1. Netherlands
2. PNG
3. Ireland
4. Namibia
5. Scotland
6. Oman
T20 World Cup 2020, Australia
Group A: Sri Lanka, PNG, Ireland, Oman
Group B: Bangladesh, Netherlands, Namibia, Scotland
Cases of coronavirus in the GCC as of March 15
Saudi Arabia – 103 infected, 0 dead, 1 recovered
UAE – 86 infected, 0 dead, 23 recovered
Bahrain – 210 infected, 0 dead, 44 recovered
Kuwait – 104 infected, 0 dead, 5 recovered
Qatar – 337 infected, 0 dead, 4 recovered
Oman – 19 infected, 0 dead, 9 recovered
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
TCL INFO
Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17
The Scale for Clinical Actionability of Molecular Targets
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Ready Player One
Dir: Steven Spielberg
Starring: Tye Sheridan, Olivia Cooke, Ben Mendelsohn, Mark Rylance
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Overview
Cricket World Cup League Two: Nepal, Oman, United States tri-series, Tribhuvan University, Kathmandu
Fixtures
Wednesday February 5, Oman v Nepal
Thursday, February 6, Oman v United States
Saturday, February 8, United States v Nepal
Sunday, February 9, Oman v Nepal
Tuesday, February 11, Oman v United States
Wednesday, February 12, United States v Nepal
The Gandhi Murder
- 71 - Years since the death of MK Gandhi, also christened India's Father of the Nation
- 34 - Nationalities featured in the film The Gandhi Murder
- 7 - million dollars, the film's budget
The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
Essentials
The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
The%20specs
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MATCH INFO
Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)
Arsenal win 5-4 on penalties
Man of the Match: Ainsley Maitland-Niles (Arsenal)
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Company Profile
Company name: NutriCal
Started: 2019
Founder: Soniya Ashar
Based: Dubai
Industry: Food Technology
Initial investment: Self-funded undisclosed amount
Future plan: Looking to raise fresh capital and expand in Saudi Arabia
Total Clients: Over 50
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