Emirates, Etihad, Qatar Airways and other airlines are at the heart of the Gulf’s economic diversification plans. With few usable land links, the region’s emergence as a tourism and business hub flies on the wings of a jet. But they could hit turbulence: the push to cut the heavy carbon dioxide emissions from flying.
Air travel is perhaps unfairly demonised among activities that emit greenhouse gases. It contributes about 2.5 per cent of global emissions, less than the 8 per cent coming from cement or the 7 per cent from steel making.
But there are good reasons to worry about aviation’s carbon footprint. It generates additional global warming through contrails – the linear high-altitude clouds formed around jet exhausts under certain atmospheric conditions. Its pollution continues to grow fast, unlike some other sectors, possibly almost tripling by 2050. Private jets have come under harsh criticism in Europe because of their high per person emissions and perceived frivolous use by the rich, with calls for a ban.
And, unlike renewable or nuclear electricity generation, or electric road vehicles, low-carbon alternatives to petroleum-powered jets are not viable yet.
The issue will become more acute in the next few years. The huge and growing middle classes of South-East Asia, India and Africa are reaching levels of income where taking flights for pleasure and business becomes normal.
Supersonic flight may be returning to our skies, three decades or so after Concorde stopped operations. New technologies with less sonic boom and better fuel consumption could make it viable again. London to Dubai flights in three hours or so would be attractive to the wealthy and to top businesspeople.
But a modern supersonic flight would still burn two to three times as much fuel per person as a business class seat on a current wide-body jet.
Efficiency has crept up over the years, with today’s flights using half the fuel needed in 1990. These incremental gains can continue for a while. Tree-planting and other “offsets” that absorb carbon dioxide are offered by some airlines today, but there are worries about how reliable and permanent they are.
Yet, to meet international climate goals, all new aircraft delivered from the mid-2030s would need to be zero-carbon. That is only a decade away. How could this be achieved?
Electric aircraft on the drawing board today could manage short haul flights up to 500 kilometres, enough to connect Dubai to all the Gulf capitals other than Kuwait City. Such short routes, though, represent only a small per cent of overall emissions.
Longer distances would require dramatic advances in battery chemistries. More realistically, although there might be some savings from hybrid electric models, medium- and long-haul flights will continue to rely on chemical fuels well beyond 2050.
That means some combination of three things: sustainable aviation fuel (SAF) made from biological materials, synthetic fuels that are practically equivalent to today’s jet fuel, or hydrogen.
SAF is already used today. Emirates has demonstrated A380 flights running entirely on SAF, and the UAE in 2023 announced a target to blend one per cent SAF into jet fuel by 2031. The EU has more aggressive requirements, requiring two per cent from this year, rising to 70 per cent by 2050.
But traditional pathways for making SAF either rely on waste feedstocks that will be in short supply, or on crops such as palm oil that contribute to deforestation.
A variety of chemical processes can turn hydrogen into near-perfect substitutes for kerosene. They are even superior: cleaner and less prone to form contrails. The hydrogen can be derived from water using renewable electricity, and combined with carbon dioxide captured from the atmosphere.
Hydrogen could also be used directly as fuel. It emits only water vapour when burnt. Hydrogen contains a tremendous amount of energy for its weight, three times as much as jet kerosene, but it has low density, requiring large tanks. Entirely new aeroplanes and engines would need to be designed, tested and delivered, and a new hydrogen fuelling infrastructure set up. That does not seem likely to happen on the required scale before the 2040s.
But, whether SAF, synthetics or hydrogen, airlines and fuel suppliers are passing the buck to each other. Airlines complain there is not enough sustainable fuel on the market and that it is too expensive; fuel companies say they need long-term commitments to be able to invest in production.
One obvious solution would be to require private planes to move very quickly to zero-carbon flight. Their wealthy users can presumably afford it, and it would kick-start the market for SAF, synthetic fuels or more ambitious designs.
But for mass aviation, more scalable and affordable solutions are needed. This poses one risk and two big opportunities for the Gulf.
The risk lies between moving too quickly or too slowly. Too fast, and Gulf airports would lose custom either to competitors in the bloc or regional rivals such as Turkey. Too slowly, and they may weaken global climate efforts, and provoke a backlash from climate-conscious partner nations. They might, for instance, lose access to European routes, or face boycotts by tourists.
The first opportunity, by contrast, is to produce synthetic fuels. Demand for green hydrogen has grown much slower than Gulf states had hoped. But green synthetic jet fuel has a guaranteed market, because of the EU rules, and a high price point that could get the nascent industry going. The Gulf’s high-quality wind and solar resources, its open land, geographic centrality, and long experience in oil refining and petrochemicals, all make it a leading contender as a synthetic fuel provider.
The other opportunity is more controversial. Why go to the trouble of pulling carbon dioxide from the air just to make fuel? Planes could continue running on conventional petroleum-based jet kerosene, while offsetting its emissions entirely with the direct air capture (DAC) of carbon dioxide. The offending carbon would then be permanently disposed of deep underground or turned into solid minerals.
Current DAC might cost about $500 per tonne of carbon dioxide, with a possible long-term target of $200. A Dubai-London economy class return flight, with ticket price currently about $800, would emit about 2 tonnes of carbon dioxide. Assuming that half of this could be saved with greater efficiency and SAF, the inclusion of DAC at future costs would bump up the ticket price by about a quarter.
That is expensive, but not insane. The Gulf’s exceptional energy and geological resources could make it a hub not just for luxury holidays, but for DAC too. That is an ideal way for both the oil and airline industries of the Gulf to keep flying high.
Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
T20 World Cup Qualifier
October 18 – November 2
Opening fixtures
Friday, October 18
ICC Academy: 10am, Scotland v Singapore, 2.10pm, Netherlands v Kenya
Zayed Cricket Stadium: 2.10pm, Hong Kong v Ireland, 7.30pm, Oman v UAE
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Darius D’Silva, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Junaid Siddique, Sultan Ahmed, Imran Haider, Waheed Ahmed, Chirag Suri, Zahoor Khan
Players out: Mohammed Naveed, Shaiman Anwar, Qadeer Ahmed
Players in: Junaid Siddique, Darius D’Silva, Waheed Ahmed
Day 1, Abu Dhabi Test: At a glance
Moment of the day Dimuth Karunaratne had batted with plenty of pluck, and no little skill, in getting to within seven runs of a first-day century. Then, while he ran what he thought was a comfortable single to mid-on, his batting partner Dinesh Chandimal opted to stay at home. The opener was run out by the length of the pitch.
Stat of the day – 1 One six was hit on Day 1. The boundary was only breached 18 times in total over the course of the 90 overs. When it did arrive, the lone six was a thing of beauty, as Niroshan Dickwella effortlessly clipped Mohammed Amir over the square-leg boundary.
The verdict Three wickets down at lunch, on a featherbed wicket having won the toss, and Sri Lanka’s fragile confidence must have been waning. Then Karunaratne and Chandimal's alliance of precisely 100 gave them a foothold in the match. Dickwella’s free-spirited strokeplay meant the Sri Lankans were handily placed at 227-4 at the close.
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 Lowdown
Us
Director: Jordan Peele
Starring: Lupita Nyong'o, Winston Duke, Shahadi Wright Joseqph, Evan Alex and Elisabeth Moss
Rating: 4/5
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
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
The biog
DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year
Company%20profile
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
ICC Awards for 2021
MEN
Cricketer of the Year – Shaheen Afridi (Pakistan)
T20 Cricketer of the Year – Mohammad Rizwan (Pakistan)
ODI Cricketer of the Year – Babar Azam (Pakistan)
Test Cricketer of the Year – Joe Root (England)
WOMEN
Cricketer of the Year – Smriti Mandhana (India)
ODI Cricketer of the Year – Lizelle Lee (South Africa)
T20 Cricketer of the Year – Tammy Beaumont (England)
UAE currency: the story behind the money in your pockets
Pakistan squad
Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi
FA Cup quarter-final draw
The matches will be played across the weekend of 21 and 22 March
Sheffield United v Arsenal
Newcastle v Manchester City
Norwich v Derby/Manchester United
Leicester City v Chelsea
Kandahar%20
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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Brief scores:
Juventus 3
Dybala 6', Bonucci 17', Ronaldo 63'
Frosinone 0
MATCH INFO
Karnatake Tuskers 114-1 (10 ovs)
Charles 57, Amla 47
Bangla Tigers 117-5 (8.5 ovs)
Fletcher 40, Moores 28 no, Lamichhane 2-9
Bangla Tiger win by five wickets
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
MATCH INFO
South Africa 66 (Tries: De Allende, Nkosi, Reinach (3), Gelant, Steyn, Brits, Willemse; Cons: Jantjies 8)
Canada 7 (Tries: Heaton; Cons: Nelson)
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
