Praise for UAE’s ‘gold standard’ nuclear power programme


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ABU DHABI // The UAE is heading to the Nuclear Security Summit with “good stories”.

The country’s nuclear programme has been praised as the “gold standard” and the UAE is constantly striving to keep up to date with best international practices.

“We’ve met our commitments. We stand in a very good shape today in terms of having ratified and signed all the agreements of nuclear security,” said Ambassador Hamad Al Kaabi, the UAE’s permanent representative to the International Atomic Energy Agency (IAEA).

“We are party to many international initiatives in supporting nuclear security and we are really an active partner internationally in nuclear security. This is in conjunction with our efforts to develop a nuclear programme as a model for other countries and nuclear security is a major part of that.”

The country has signed nine bilateral agreements on nuclear security and cooperation with the United States’ Nuclear Regulatory Commission, the Nuclear Safety and Security Commission in South Korea and IRSN in France.

Mr Al Kaabi said the UAE had some of the highest standards.

"This is where we see the drive for the UAE to adopt a model system that supports the peaceful use of nuclear energy, prevent nuclear terrorism and any risks or jeopardy to nuclear security," he said.

Barbara Judge, the former head of the UK Atomic Energy Authority, said the UAE's nuclear programme was "the gold standard".

“They’ve done a very good job,” she said. “The fact that the Government is so behind it will make it one of the best programmes in the world,” said Ms Judge, who is also the deputy chair of the nuclear reform monitoring committee of the Tokyo Electric Power Company.

She said in some countries, the government stood back.

“But here, all the objectives are aligned to make this the best. The Government in Abu Dhabi wants it to be a showcase for the rest of the world, as well as on time and budget,” Ms Judge said.

The UAE is continuing the push to ensure nuclear security and safety. An integrated master working plan was signed between the country and the IAEA, which enhances the effectiveness of their partnership from 2013 to 2017, including nuclear security. "Nuclear security is a fairly new topic when compared to nuclear safety," said Mr Al Kaabi.

“Nuclear security is the responsibility of the state, so if you have facilities, you are responsible to protect them.”

He said a lot of questions around the budget for nuclear security were being asked by member states.

“Some say the IAEA should spend their money on other issues, such as technical cooperation, for instance,” he said.

“They believe in acquiring technologies as opposed to spending more on nuclear security. But others feel nuclear security is more important strategically for them to ensure that there is no misuse of radioactive material. This is part of the discussion but there is no big divide and nuclear security has received a lot of support within the IAEA.”

The UAE plans to host an IAEA workshop this year on the security of transport of nuclear materials.

cmalek@thenational.ae

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Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm

Saturday, September 30
Qualifying: 1pm - 2pm

Sunday, October 1
Race: 11am - 1pm

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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.

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The biog

Occupation: Key marker and auto electrician

Hometown: Ghazala, Syria

Date of arrival in Abu Dhabi: May 15, 1978

Family: 11 siblings, a wife, three sons and one daughter

Favourite place in UAE: Abu Dhabi

Favourite hobby: I like to do a mix of things, like listening to poetry for example.

Favourite Syrian artist: Sabah Fakhri, a tenor from Aleppo

Favourite food: fresh fish

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Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

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Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.

“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.

Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.

He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.

Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”

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