ABU DHABI // One of the country’s leading oil and gas research institutions will open a Dh330 million centre in November.
The Petroleum Institute, a partner of the Abu Dhabi National Oil Company, will begin full operations in the next few weeks, as it finishes stocking the laboratories with research equipment worth Dh239m.
Dr Thomas Hochstettler, president of the institute, said the centre would feature 35 laboratories to enhance the work of academics and students.
“To get access to this kind of equipment and expertise gives the student up-to-date education, which gives them a huge advantage when they go to the market place to work,” said Dr Hochstettler.
“For faculty, everybody likes new toys and the faculty is designing these labs themselves, so they’re designing the best kind of treehouse they ever went to play in.”
The university has just been accredited to offer doctorate degrees. The first intake of students will start in January, when the labs are in full swing.
Dr Hochstettler said the new centre was a key factor in the approval to offer the programmes.
Dr Marc Durandeau, head of research and development at the institute, said the hands-on experience at the centre’s labs would greatly help the students when they go on to work with Adnoc.
“They will gain a lot using these types of equipment and will see the operation differently when they join their next career in the oil and gas industry,” Dr Durandeau said.
Dr Hochstettler said: “We have a huge advantage as we can send these PhD students into the field where elsewhere they have to use simulation or simply read about it, so this is a huge step forward for us all.”
Dr Aisha Al Suwaidi is one of the academics who hope to benefit from the centre.
“This research centre is really the first of its kind in the region,” Dr Al Suwaidi said. “We can now do novel research, which previously we would have had to do in Europe or the US, because we didn’t have any of these capabilities.
“Vast sums of money are spent on contracting out sample analysis, as well as sending people somewhere else to do research. Now for the first time we will be able to bring this research and knowledge home to the UAE.
“Advancement of academics, and especially research, is essential for the advancement of a society in emerging economies like the UAE,” she said.
“Students will have more opportunities to engage in research which ultimately means they will be better researchers.”
“Research exposure in students encourages creativity, critical thinking and enhanced problem-solving skills, which ultimately helps improve society.”
mswan@thenational.ae
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Stamp duty timeline
December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%
April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.
July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.
March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.
April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
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Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
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Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
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Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
Western Region Asia Cup T20 Qualifier
Sun Feb 23 – Thu Feb 27, Al Amerat, Oman
The two finalists advance to the Asia qualifier in Malaysia in August
Group A
Bahrain, Maldives, Oman, Qatar
Group B
UAE, Iran, Kuwait, Saudi Arabia
Getting%20there%20and%20where%20to%20stay
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Gearbox: 10-speed automatic
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Torque: 562Nm at 3,000rpm
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Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
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Electric scooters: some rules to remember
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- Wear a protective helmet
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If you go
Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.
Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com
A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com
Sri Lanka's T20I squad
Thisara Perera (captain), Dilshan Munaweera, Danushka Gunathilaka, Sadeera Samarawickrama, Ashan Priyanjan, Mahela Udawatte, Dasun Shanaka, Sachith Pathirana, Vikum Sanjaya, Lahiru Gamage, Seekkuge Prasanna, Vishwa Fernando, Isuru Udana, Jeffrey Vandersay and Chathuranga de Silva.
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Sept 15: Bangladesh v Sri Lanka (Dubai)
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Sept 18: India v Qualifier (Dubai)
Sept 19: India v Pakistan (Dubai)
Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four
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Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)
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Sept 25: Group A Winner v Group B Winner (Dubai)
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Sept 28: Final (Dubai)
Zayed Sustainability Prize
