DEWA enhances water security in Dubai through 3 water reservoirs with storage capacity of 210 MIG and investments of about AED 550 million

To enhance water security, Dubai Electricity and Water Authority (DEWA) is increasing the storage capacity of desalinated water in Dubai. To achieve this target, DEWA is building three water reservoirs in different parts of Dubai; one in the Nakhali area with a storage capacity of 120 MIG and investments totalling AED 287.8 million, one in the Lusaily area with a storage capacity of 60 MIG and investments totalling AED 175.4 million, and one in Hatta with a storage capacity of 30 MIG and investments totalling AED 86 million,

“Water security is a national priority for the UAE and is one of the seven strategic sectors of the National Innovation Strategy. The UAE Water Security Strategy 2036 aims to ensure sustainable access to water during both normal and emergency conditions as well as address future water security challenges. The Dubai Integrated Water Resource Management Strategy 2030 focuses on enhancing water resources and using cutting-edge technologies and innovative solutions. At DEWA, we work to provide state-of-the-art integrated infrastructure for electricity and water to provide our services according to the highest standards of availability, reliability, efficiency and quality. The construction of the water reservoirs in Al Nakhali, Al Lusaily, and Hatta supports DEWA’s strategy to increase the efficiency and reliability of water networks, raise water flow and volume of water reserves to meet the growing demand and sustainable development in Dubai. We aim to increase the storage capacity of Dubai to 1002 MIG compared to the current capacity of 815 MIG,” said HE Saeed Mohammed Al Tayer, MD & CEO of DEWA.

Al Tayer noted that these reservoirs add to the Aquifer Storage and Recovery (ASR) project for desalinated water which DEWA has completed its first phase. The full scale of the ASR project can store up to 6,000 million imperial gallons of water once completed by 2025. This makes it the largest ASR of its kind in the world to store potable water and retrieve it in case of an emergency.

“Thanks to its advanced infrastructure, innovation, and sound scientific planning, DEWA keeps pace with the growing demand for water. In 1992, DEWA’s production capacity of desalinated water was 65 MIGD. Today it has increased to 490 MIGD. DEWA’s R&D efforts and the latest global technologies reduced losses in its water transmission and distribution networks from more than 42% in 1988 to 5.3% in 2021. This is one of the lowest worldwide,” added Al Tayer.

Abdullah Obaidullah, Executive Vice President of Water and Civil at DEWA, said that DEWA follows the highest international standards in the reservoirs it’s building, noting that the reinforced concrete 60-million-gallon reservoir in Lusaily is being built alongside the existing one, which stores 120 million gallons of desalinated water.

Source: Dubai Electricity and Water Authority

Ahmed bin Saeed meets with President and CEO of Marsh

DUBAI, H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group, today met with Martin South, President and CEO of Marsh, a leading global insurance broker and risk advisor, at the Emirates Tower in Dubai.

Sheikh Ahmed bin Saeed and the President of Marsh discussed new developments in the worldwide insurance industry, Dubai’s remarkable growth as a global financial hub and its emergence as an international destination for talent and entrepreneurship in the industry. They also discussed the global insurance giant’s growth based out of Dubai, as well as the vast new opportunities for insurance companies emerging from the UAE’s ambitious growth aspirations and new development avenues in the broader region.

Sheikh Ahmed said Dubai is constantly working to enhance the soft and hard infrastructure needed for global companies in various financial sectors to boost business growth. By providing enabling services and regulatory frameworks that maintain the highest international standards, the government continuously strives to create an environment where global financial companies can enhance their resilience, drive innovation and add value to the economy, His Highness noted.

For his part, South said that Dubai continues to provide the ideal platform for serving its clients and taking advantage of new possibilities for growth across the region. He expressed his admiration for the resolve and resilience that Dubai has demonstrated at a time of unprecedented global challenges and its success in creating one of the world’s most prominent financial hubs.

Part of the Marsh McLennan group, an international professional services firm headquartered in New York, Marsh has offices in 130 countries. With over 45,000 staff, the company provides industry-focused brokerage, consulting, and claims advocacy services, leveraging data, technology, and analytics to help reduce its clients’ total cost of risk. In 2021, Marsh reported a revenue of US$10.2 billion. Marsh’s Reinsurance Hub in the Middle East & Africa (MEA) region is located in the Dubai International Financial Centre.

The meeting was attended by Abdulla Al Basti, Secretary-General, Dubai Executive Council; Helal Al Marri, Director-General of Dubai’s Department of Economy and Tourism; Essa Kazim, Governor of Dubai International Financial Centre (DIFC); Flavio Piccolomini, President of Marsh International; Christos Adamantiatis, Regional CEO, Marsh Middle East & Africa; and Ayman El Hout, CEO of Marsh Emirates Insurance Brokers.

Source: Emirates News Agency

Arada launches Robinia, third residential phase of Sharjah’s Forest community Masaar

SHARJAH, Arada has launched Robinia, the third phase of its Sharjah woodland community Masaar. The launch of the 565 villas and townhouses in Robinia has been brought forward after the first two residential phases at Masaar both sold out.

Valued at AED8 billion and containing 4,000 homes spread over eight gated districts, all linked by a “green spine” featuring 50,000 trees, Masaar has been the bestselling off-plan project in Sharjah since its launch in January 2021.

From two-bedroom townhouses to five-bedroom forest villas, Robinia is synonymous with mindful yet refined contemporary living. Healthy, active lifestyles are encouraged by the idyllic surrounding woodland and sporting and entertainment facilities.

Ahmed Alkhoshaibi, Group CEO of Arada, said, “Masaar has already attracted significant buyer interest from a wide range of nationalities thanks to its well-planned community design, desirable location, and homes that offer incredible value for money. Therefore, we are pleased to launch sales for our third phase, Robinia, which focuses on uplifting wellness and sustainability for families that value quality of life, natural landscapes, and exceptional community amenities.

Source: Emirates News Agency

UAE announces 867 new COVID-19 cases, 637 recoveries, no deaths in last 24 hours

ABU DHABI, The Ministry of Health and Prevention (MoHAP) announced that it conducted 279,163 additional COVID-19 tests over the past 24 hours, using state-of-the-art medical testing equipment.

In a statement, the Ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As part of its intensified testing campaign, MoHAP announced 867 new coronavirus cases, bringing the total number of recorded cases in the UAE to 912,953.

According to the Ministry, the infected individuals are from various nationalities, are in a stable condition, and receiving the necessary care.

The Ministry added that no COVID-19-related deaths have been recorded in the past 24 hours, leaving the death toll unchanged at 2,305.

MoHAP also noted that an additional 637 individuals had fully recovered from COVID-19, bringing the total number of recoveries to 895,736.

Source: Emirates News Agency

FAB offers ADGM registered entities preferential banking services

ABU DHABI, Abu Dhabi Global Market (ADGM) and First Abu Dhabi Bank (FAB) have signed a Memorandum of Understanding to further support the growth needs of the commercial and financial community in Abu Dhabi.

The MoU aims to increase collaboration between ADGM and FAB and initiate preferential banking services, such as fast and efficient bank account opening, for ADGM registered and licensed entities and dedicated client managers, among others.

This partnership between ADGM and FAB outlines a framework of collaboration that enables both parties to jointly facilitate knowledge exchange, strengthen the association in various FinTech initiatives, drive awareness, and support business development, education, and engagement.

The two parties seek to support each other’s key initiatives like the ADGM Digital Lab and co-organise appropriate industry workshops and corporate innovation programmes.

Commenting on this partnership, Juma Al Hameli, Chief of Staff at ADGM, said, “ADGM is pleased to further our partnership with FAB in better serving the fast-growing and thriving business ecosystem in ADGM. This MoU is an extension of the ongoing cooperation between the two organisations that are committed to the long-term development of the banking and financial industry in Abu Dhabi and wider UAE.”

Mustafa Al Khalfawi, Head of Global Banking UAE & Global Head of Government, Sovereigns and Public Sector at FAB, said, “We are committed to working alongside ADGM to advance the UAE’s dynamic business environment and support thriving companies. FAB will provide ADGM registered entities with an exceptional banking experience with tailor-made financial solutions and expertise that will take these businesses to new heights in the UAE and beyond.”

Source: Emirates News Agency

OPEC daily basket price stands at $120.16 a barrel Tuesday

VIENNA, The price of OPEC basket of thirteen crudes stood at US$120.16 a barrel on Tuesday, 7th June, compared with US$119.85 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Source: Emirates News Agency