The car-recycling shredder does its work on the bodies of old vehicles. Other materials, such as foam, electrics and windows, are taken from the cars and sold or recycled at Bee‘ah in Sharjah. Jeffrey E Biteng / The National
The car-recycling shredder does its work on the bodies of old vehicles. Other materials, such as foam, electrics and windows, are taken from the cars and sold or recycled at Bee‘ah in Sharjah. JeffreyShow more

UAE’s first car recycling plant ready for operation



SHARJAH // Dumped cars that used to gather carpets of dust on sandy lots and back streets can be put to better use after the UAE's first car-recycling plant officially opened on Wednesday.
The plant will extract valuable metals and help to recycle or reprocess plastics, upholstery, cables and mechanical parts. It will also greatly reduce the amount of landfill.
The plant became operational in October and has since been undergoing tests. It has already processed about 350 old cars but its capacity is much larger.
Its shredder, the main piece of equipment for processing car bodies, has a capacity of 60 vehicles an hour, said Darker El Rabaya, director of waste processing at Bee'ah, the plant's operator.
About 11,000 vehicles reach the end of their lives each month, studies by the company show.
"There are a large number of vehicles in the UAE that are being scrapped every day," said Najib Faris, chief commercial officer of Bee'ah.
"This is the only facility today that can deal with end-of-life vehicles in the country. We would encourage any insurance company, dealer or government department to use this service."
Old vehicles used to be sold to scrap dealers, who would salvage spare parts and sell the rest of the car on the international market.
At the new plant cars are first dismantled manually and many of their parts, such as tyres and plastics, are recycled at centres already operating at the Bee'ah compound.
Workers separate mechanical parts such as engines and transmission systems, which the company hopes it can soon sell to international companies that take them apart and re-assemble them.
Bee'ah is negotiating with several such companies, said Mr Faris. He said one advantage of this approach is that re-assembled spare parts come with a warranty.
Workers at the compound also manually separate cables, which will be handed to electronic waste traders, as well as cushioning and foam that can be recycled by local companies.
Windows are finely ground and used for landfill cover.
When the car's body has been shredded, machines separate non-metallic parts from valuable aluminium and steel.
Recycling the metals is environmentally and financially beneficial, said Mr Faris.
"It does have a business case, it is a commercially viable plant," he said. "However, the most important goal for Bee'ah is to reduce waste to landfill.
"Recycling consumes a lot less energy and a lot less water than producing virgin materials."
While the facility is now technically ready, a key issue for the next few months is to ensure a steady supply.
Bee'ah is in talks with government departments to ensure unclaimed old vehicles in car impounding areas are handed over for recycling.
Car insurance companies and old car dealers are other partners of interest.
vtodorova@thenational.ae
* additional reporting by Yasin Kakande

Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

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PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

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Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

Funk Wav Bounces Vol.1
Calvin Harris
Columbia

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.

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Points to remember
  • Debate the issue, don't attack the person
  • Build the relationship and dialogue by seeking to find common ground
  • Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
  • Listen actively without interrupting
  • Avoid assumptions, seek understanding, ask questions
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

Fire and Fury
By Michael Wolff,
Henry Holt

Match info:

Burnley 0

Manchester United 2
Lukaku (22', 44')

Red card: Marcus Rashford (Man United)

Man of the match: Romelu Lukaku (Manchester United)

TICKETS

Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.

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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
ENGLAND SQUAD

Goalkeepers Henderson, Johnstone, Pickford, Ramsdale

Defenders Alexander-Arnold, Chilwell, Coady, Godfrey, James, Maguire, Mings, Shaw, Stones, Trippier, Walker, White

Midfielders Bellingham, Henderson, Lingard, Mount, Phillips, Rice, Ward-Prowse

Forwards Calvert-Lewin, Foden, Grealish, Greenwood, Kane, Rashford, Saka, Sancho, Sterling, Watkins 

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.”