ISLAMABAD, 1st April, 2024 (WAM) — Pakistan’s Tarbela Power House is poised for a significant leap in electricity generation capacity. According to official sources, upon completion of the ongoing 1,530-megawatt (MW) 5th Extension project, Tarbela will become the country’s largest hydropower generation unit, boasting a staggering capacity of 6,418 MW, Associated Press of Pakistan (APP) reported today.
This significant increase represents a jump from the existing capacity of 4,888 MW. The 5th Extension Hydropower Project is expected to be commissioned in 2025, marking a major milestone for Pakistan’s energy sector.
The project not only promises a substantial boost in power generation but also offers significant economic and environmental benefits. Officials estimate that the Tarbela 5th Extension will generate a staggering 1.347 billion units of low-cost and environmentally friendly electricity annually. This clean energy source will contribute to a more sustainable energy mix for Pakistan.
Furthermore, the project has received crucial financial backing from international institutions. The World Bank and the Asian Infrastructure Investment Bank are providing US$ 390 million and $300 million respectively, demonstrating confidence in Pakistan’s commitment to expanding its clean energy infrastructure.
With the long Eid Al Fitr break just around the corner, what are your plans with the family? Check into the Queen Elizabeth 2 Hotel for an exclusive getaway where maritime history and the finest hospitality converge to make every moment unforgettable.
Eid Al Fitr Staycation
Valid: 10 – 13 April 2024
Create cherished memories with family and friends thisEid Al Fitr. Spend the long weekend aboard the QE2 and take advantage of our ‘staycation special’ offering complimentary upgrade to a sea-view room, a lavish buffet breakfast, flexible early check-in and late check-out. Savour an indulgent Eid dinner at Lido restaurant.
Offer includes:
§ Complimentary upgrade to a sea-view room of the same category booked
§ Buffet breakfast in Lido restaurant
§ Special Eid buffet dinner in Lido restaurant
§ Early check-in at 12:00 noon and late check-out at 2:00 pm (Subject to availability)
§ 20% discount on F&B
§ Members of ALL earn Status points and Reward points on all eligible stays.
§ Not a member of ALL – Accor Live Limitless, Accor’s lifestyle loyalty programme? Join today and live limitless with spectacular destinations, experiences, and rewards all in one place!
Room rates start from AED 549 for Classic Room
Terms & Conditions:
§ Rates are inclusive of 7% municipality fees, 10% service charge, 5% VAT and Tourism fee.
§ Rates quoted are per room per stay, subject to availability and change without notice.
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About Queen Elizabeth 2 Hotel, Managed by Accor
Queen Elizabeth 2 Hotel, managed by Accor, is a historic gem and the only floating hotel in emirates. Located in Port Rashid, in close proximity to Dubai’s main attractions and shopping malls, its 447 renovated rooms and suites are carefully decorated, offering a peaceful retreat in which to relax and unwind.
Guests can experience a culinary journey with innovative menus onboard the QE2. The hotel’s dining outlets include Lido – an all-day dining restaurant; The Golden Lion – the oldest pub in Dubai; The Pavilion – an alfresco lounge; and the Queens Grill – serving Afternoon Tea.
For those seeking an event with a difference, the iconic QE2 offers multiple one-of-a-kind venues in Dubai. Included in its facilities are unique indoor and outdoor event spaces. Whether you are planning a birthday bash, an anniversary party, a wedding celebration, or any other social or corporate functions, the QE2 provides an inspiring and impressive backdrop that will delight your guests.
The Ramadan Ration initiative 1445 Hijri / 2024 organised by the Roads and Transport Authority (RTA) on 19 Ramadan benefited 2520 people. Commemorated annually as Zayed Humanitarian Day, it honours the legacy of the late Sheikh Zayed bin Sultan Al Nahyan, reflecting his profound commitment to aiding those in distress and supporting the underprivileged. It highlights the UAE’s deep-rooted values of generosity, philanthropy, and kindness, celebrating the spirit of giving and compassion that defines the nation.
This RTA’s humanitarian initiative is designed to support needy families across the emirate. It witnesses the distribution of 630 pre-loaded nol cards. Spearheaded by RTA’s leaders and Women’s Committee members, alongside 58 volunteers from within and beyond RTA, this campaign represents a collective effort of 116 hours of volunteering. Their commitment resulted in saving AED34,800 for RTA.
Participants in the Ramadan Ration initiative made site tours of several areas across the emirate. The initiative aims to assist limited-income families and offer them material and moral support through the distribution of nol cards usable in essential purchases at participating retail outlets. It also aims to uplift them morally by diffusing the culture of tolerance, mutual support, and active youth engagement in volunteerism to rally the community around the noble cause of supporting families in need during Ramadan.
RTA is keen to mark this annual community-focused initiative by carrying out a host of community initiatives directed towards employees, People of Determination, families on limited incomes, drivers, and workers to bring them joy and happiness during the holy month of Ramadan.
Samsung’s Bespoke Jet Bot Combo™ AI and Family Hub Refrigerators that come with data encryption and Knox Matrix security technology, are verified to level ‘Diamond’ by UL Solutions
Samsung Electronics today announced that its new all-in-one robot vacuum cleaner, the Bespoke Jet Bot Combo™ AI,1 and its Family Hub Refrigerators2 have been verified to level ‘Diamond’ by UL Solutions for their IoT security capabilities. UL Solutions Inc., is a leading global safety science company that evaluates hundreds of marketing claims each year, and one of their services, the UL Verified IoT Device Security Rating process verifies smart home devices for hacking risks and security levels. The Bespoke 4-Door Flex™ Refrigerator with AI Family Hub™+ became the first in the home appliance industry to gain the ‘Diamond’ level, and other Family Hub models and the Bespoke Jet Bot Combo™ AI also achieved the same verification.
UL Solutions divides the level of performance into 5 levels — Bronze, Silver, Gold, Platinum and Diamond. Each level requires rigorous testing, and of them, the highest ‘Diamond’ level is only given after products pass tests evaluating the ability to detect malicious software modulation, prevent illegal access attempts, and anonymize user data. Especially, the products that achieve this highest level differentiate from level ‘Platinum’ in that they must have the ability to test unknown potential vulnerabilities, and operate programs for early detection of security vulnerabilities as well.
The importance of IoT security grows as Samsung builds its products to be more intelligent, incorporating artificial intelligence (AI) features to a host of product lineups and connecting them through SmartThings. Samsung’s devices are built to communicate with each other so that with one signal, multiple devices smartly adjust themselves.
“AI is becoming a bigger part of our everyday lives, and this is especially apparent in the fact that it is being applied to home appliances. With that being the case, security is naturally becoming more important,” said Miyoung Yoo, EVP and Head of the Software Development Team, Digital Appliances (DA) Business at Samsung Electronics. “We at Samsung are putting a huge amount of effort into making sure that data security enhancements come hand-in-hand with our technological advancements. The secure environment we provide will allow our customers to truly enjoy the connected experience enabled by AI.”
To establish this interconnected home environment, each device — as well as data transmitted between devices, must be protected. All Samsung home appliances are protected by ‘Samsung Knox,’ a unique series of security principles, and all WiFi-enabled products come with integrated circuit (IC) chips that encrypt data, protecting it from breaches and attacks. ‘Knox Matrix,’ a security solution designed to protect interconnected devices then strengthens security one step further. It secures sensitive information across multiple devices by supporting end-to-end encryption (E2EE) technology to encrypt all shared and synchronized data, and enables devices to intelligently monitor each other for security threats and send notifications to other devices in the event that one is attacked.
The two new products boast AI features designed to make the lives of users easier. The Bespoke Jet Bot Combo™ AI comes with AI Object Recognition,3 an intelligent technology that recognizes humans,4 pets,5 and even hard-to-see items such as phone cables so that users do not have to do a “first screening clean-up” before running the vacuum. It also comes with Spatial Recognition6 technology that automatically draws the layout of the home, and recommends names for each section. Finally, the AI Floor Detect7 is feature that recognizes when the vacuum is on a carpet, determines the depth of the carpet and prevents it from getting wet by lifting the mop pads up into the vacuum when mopping
The newest edition of the Family Hub series, the Bespoke 4-Door Flex™ Refrigerator with AI Family Hub™+8 also comes with multiple AI functions that serve users’ individual needs. ‘AI Vision Inside,’9 for one, intelligently recognizes fresh food items going in and out of the fridge and automatically creates a food list. ‘SmartThings Food’ then recommends recipes based on the available ingredients. Users can easily get ideas of what to eat, and also save food from going to waste because they can utilize various ingredients they have on hand.
1 VR7M*97**** 2 RF**DB99****, RF**DB95****, RF**DG9H****, available in North and South America, Europe, Middle East, Southeast Asia, India, Australia, Korea 3 Object recognition may be affected by an object’s shape or the environmental conditions. Only certain object types can be recognized. Example items: air conditioner (stand type), refrigerator, BESPOKE (refrigerator/dishwasher), TV, washing machine/dryer, air purifier, AirDresser, sofa, bed, bookshelf, table, pet excrement, electrical cable, towel/sock, cup, glass, bottle, bowl, vase, floor mat, rug, coat rack, shoes, pedestal, scales, power extension, furniture with a crossbar, furniture legs, wheeled chair, pet fur ball, smartphone cable, stain, door step, and doorway. A Wi-Fi connection and Samsung account are required. 4 It only recognizes a human presence based on generic visual indicators, and cannot identify individual people. The recognition capabilities may be limited when a person’s entire body cannot be seen. A Wi-Fi connection and Samsung account are required. 5 Only dogs and cats can be recognized. It only recognizes a pet presence based on generic visual indicators, and cannot identify individual pets. A Wi-Fi connection and Samsung account are required. The recognition capabilities may be limited by the posture or position of a pet. The ability to recognize your pet may vary depending on the type of animal and the living environment. 6 Only certain spaces can be recognized. Example spaces: Kitchen, Living room, and ordinary room. A Wi-Fi connection and Samsung account are required. 7 Based on our deep learning model trained using predefined set of data and may yield incomplete or incorrect information. New datasets may be introduced to our learning model from time to time to enhance its accuracy. 8 A Wi-Fi connection and a Samsung account are required. You must use a same log-in account between the devices. 9 As of April 2024, AI Vision Inside can recognize 33 fresh food items like fruits and vegetables. If the food is not recognizable, it may be listed as unknown item. AI Vision Inside cannot identify or list any food items in the fridge door bins or freezer. It recognizes food items based on deep learning models, which may be updated periodically to improve accuracy.
GUANGDONG, 30th March, 2024 (WAM) – China’s Guangdong Province is striving to establish itself as a global industrial and sci-tech innovation hub by promoting the synergistic advancement of industry and technology, along with the development of new quality productive forces, according to China Central Television.
Guangdong’s GDP reached 13.57 trillion yuan (around US$1.88 trillion) in 2023, ranking first in the country for the 35th consecutive year. The province is home to over 18 million business entities, with 7.8 million enterprises accounting for one-seventh of the country’s total.
In 2024, Guangdong will focus on expanding investment, advancing consumption, and stabilizing foreign trade to achieve a 5-percent economic growth target, said Governor Wang Weizhong. “We strived to promote project financing. Last year, industrial investment across the province grew by 22.2 percent, marking a double-digit growth for 36 consecutive months, and investment in technology upgrading registered a 22.4 percent growth, reaching a six-year record high,” he added.
During the first two months of this year, Guangdong’s economy continued to grow, with a 10.6 percent increase in industry, 6.1 percent growth in consumption, 4.3 percent rise in investment, and a 24.9 percent increase in imports and exports.
Guangdong is home to 71,000 industrial enterprises with an annual main business revenue of 20 million yuan or more and 75,000 high-tech firms, both leading the country in terms of numbers. The province’s regional innovative capacity has ranked first in China for seven consecutive years.
Moving forward, Guangdong will explore new quality productive forces and advance industrial innovation through sci-tech innovation. “We will accelerate the development of integrated circuits, new energy storage, new energy vehicles, low-altitude economy, and artificial intelligence to build them into 500 billion-level or trillion-level industrial clusters,” said Governor Wang. “We will speed up the establishment of a whole-process innovation chain from basic research, technology upgrading, commercialization of research achievements to scientific and technological finance and talent support, aiming to build an industrial and sci-tech innovation hub with global influence.”
DUBAI, 30th March, 2024 (WAM) – Over 160 candidates from 25 nationalities and 20 universities worldwide participated in the 2nd cycle of the Cleantech Hackathon launched by the Innovation Centre of Dubai Electricity and Water Authority (DEWA).
The event focused on sustainable innovations in energy, digital transformation, and integrating clean energy sources. Participants were judged on innovation and impact, with three winners receiving monetary prizes at the end of the event.
“We support the wise leadership’s vision to empower and encourage the youth and provide them with the necessary tools to become the pillars to build a brighter future. This supports the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of Dubai’s total power production capacity from clean energy sources by 2050.
“We are keen to include the youth in sustainable development and encourage them to develop innovative solutions to combat the effects of climate change. This consolidates the position of the UAE and Dubai as an innovation hub and an incubator for innovators,” said Saeed Mohammed Al Tayer, MD and CEO of DEWA.
“Through the Innovation Centre, DEWA aims to raise awareness on sustainability, hone national capabilities, and enhance business competitiveness in this promising sector,” said Waleed Bin Salman, Executive Vice President of Business Development and Excellence at DEWA.
Structured around three main tracks, the competition focused on optimising the efficiency and cost-effectiveness of clean energy sources, ensuring the reliability and stability of renewable energy, and integrating renewable energy seamlessly into existing systems. These tracks contribute to maximising efficiency, overcoming intermittency challenges, and innovatively addressing energy storage, distribution, and smart grid technologies.
ABU D HABI, 30th March, 2024 (WAM) – H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, said that the United Arab Emirates, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, is at the forefront of leveraging cutting-edge technologies like AI to drive sustainable growth and progress, particularly in the energy sector.
This came during His Highness’ visit today to the Bu Hasa oilfield where he met with Emirati ADNOC staff working at the field. He toured key facilities and operations, learning about the company’s efforts to leverage AI and advanced technologies for enhanced efficiency, productivity, and emissions reduction.
His Highness was accompanied during the visit by Sheikh Mohammed bin Hamdan bin Zayed Al Nahyan, Sheikh Yas bin Hamdan bin Zayed Al Nahyan, Nasser Mohammed Al Mansouri, Under-Secretary of the Ruler’s Representative’s Court in the Al Dhafra Region, and Issa Hamad Bushahab, Advisor to His Highness the Ruler’s Representative in the Al Dhafra Region, along with a number of officials.
“I’m delighted to learn about ADNOC’s ongoing efforts to solidify the UAE’s leadership in global energy security. Their commitment to achieve net-zero carbon emissions by 2045 is commendable. By empowering Emirati talent and deploying advanced AI and digital solutions in the energy sector, ADNOC is ensuring increased production efficiency, reduced emissions, and optimal utilisation of our national resources,” said Sheikh Hamdan.
During his meeting with ADNOC’s national staff, His Highness conveyed to them the greetings of His Highness President Sheikh Mohamed, stressing on His Highness’s keenness to provide all means of success for them to ensure their active contribution to the path of growth and prosperity of the country. Sheikh Hamdan emphasised on the importance of Emirati women’s participation across various sectors, including the energy sector, highlighting their proven ability and success in tackling diverse tasks within this field.
He praised the pivotal role played by the Emirati female cadres working in the Bu Hasa field, where they contribute through their different positions to the implementation of ADNOC’s plans to enhance efficiency, raise productivity and reduce emissions through the use of AI applications and tools and advanced technologies.
Upon his arrival at the Bu Hasa field, Sheikh Hamdan was received by Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, and the company’s executive management team.
ADNOC team presented Sheikh Hamdan with details on several strategic projects underway at the Bu Hasa field. These initiatives aim to achieve growth, enhance efficiency, and reduce emissions, notably the plans to increase production capacity from 650,000 barrels per day to over 790,000 barrels per day and to increase associated gas production from 650 million cubic feet per day to more than 800 million cubic feet per day by 2027. This is in addition to strategic projects that include providing sustainable water supplies to the Bu Hasa and Bab fields. Other strategic projects include utilising treated seawater instead of groundwater in the Enhanced oil recovery (EOR) processes, reducing energy consumption and emissions, and the project to employ water and gas injection technologies into reservoirs to enhance production. This is in addition to a proposed joint project to develop a bromine production facility, used in drilling fluids.
Sheikh Hamdan learned about the most prominent artificial intelligence and advanced technology techniques and tools used by ADNOC in monitoring operations and production processes in the field, which is considered one of the largest onshore production fields in the country and one of the 20 largest oil fields in the world in terms of proven oil reserves. This includes the use of digital well solutions, autonomous operations and remote monitoring technologies, and the development of the first AI-based advanced process control system in collaboration with AIQ, and the use of UAE-made drones to detect potential greenhouse gas leaks, and to conduct accurate site and infrastructure inspections, as well as the use of electric submersible pumps connected to AI tools to help reduce downtime and improve operational efficiency.
For his part, Dr. Sultan Ahmed Al Jaber said: “We highly appreciate the visit of His Highness Sheikh Hamdan bin Zayed Al Nahyan to the Bu Hasa field, which reflects the leadership’s keenness to follow up on all projects that contribute to strengthening sustainable economic and social development.
“ADNOC, a leading integrated energy company, is undergoing a significant transformation. By leveraging the latest advancements in AI technologies, ADNOC aims to accelerate progress on the company’s ambitious strategy. This includes reducing emissions, ensuring operational sustainability, and staying at the forefront of the industry. To achieve this, ADNOC is investing in developing the company’s national workforce, building a diverse and highly skilled team to deliver more energy with lower emissions, to meet the ever-growing global demand.”
Dubai: The enterprise arm of e&, UAE’s tech-telco conglomerate, is taking a majority stake in Beehive, the SME-focussed lending platform.
Beehive, founded in 2014, is a major player in the crowdfunding space in the UAE and has operational coverage in Saudi Arabia and Oman. It connects SMEs seeking finance with investors – both private and institutional – to offer conventional as well as Sharia-compliant loans.
The company recently reached the Dh1.5 billion mark on loans.
“The acquisition of Beehive’s digital lending platform marks the second step in e& enterprise’s journey in the Fintech space, after the launch of UAE Trade Connect in 2021,” said Salvador Anglada, CEO, e& enterprise. “SMEs are important drivers of the economy and there is a need more than ever to support their unique financing needs.
“With Beehive, we have the right technological innovation to accelerate on our agenda in the UAE and beyond.”
e& enterprise will thus be able to ‘provide an innovative lending solution’ to tap the $250 billion SME credit gap in the GCC.
Other e& entities have taken significant shareholding in Starzplay Arabia, the web-streaming platform, and in the Careem Super App, the multi-service consumer platform.
For Beehive, “This strategic alignment presents a huge opportunity to increase and accelerate financing to SMEs across the region,” said Craig Moore, founder and CEO. “The market leading brand, reach and vision of e& and e& enterprise allows Beehive to drive more innovation and collaboration into the market.
“As one of the very first regional fintechs, this is a validation of the Beehive team’s incredible effort over the last 9 years and reflects the vibrancy and success of the UAE’s startup ecosystem.”
Business leaders, tax, accounting and legal experts give insights to help NBF’s customers better understand the implications of the UAE’s corporate tax regime for their businesses
The National Bank of Fujairah (NBF) has hosted the latest in its successful series of knowledge-sharing events, providing a round-up of the recent developments in UAE corporate taxation. The event was attended by customers from different business sectors in the UAE.
Under the theme ‘UAE corporate tax and the evolving business landscape’, the event brought together business leaders, tax and accounting experts, and legal advisors to discuss the latest developments in the federal corporate tax system which came into force in the UAE last June, the difficulties businesses might face in achieving maximum tax efficiency, and how to best adjust their operations (e.g. through restructuring or consolidation) to the new system.
Specific topics covered included, among others, the impact of corporate tax on profitability, how changes affect free zone companies and SMEs, and which income is tax free, all brought to life through real life case studies from business in the midst of their first year of corporate tax.
Introduced in June 2023, the UAE’s federal corporate tax is one of the most competitive in the world, at 9% for taxable income exceeding AED 375,000. However, the tax system is still a new addition to the country’s legal framework and requires companies to revise their financial models and investment strategies.
As businesses navigate their first tax year, many are considering the potential impact of the new regime on their profitability and operations. Some have already established dedicated tax departments, while others have engaged tax advisors to provide guidance and help them ensure compliance.
The event was the latest in NBF’s knowledge event series, which most recently has explored sustainable finance and Islamic finance. The event series will run throughout 2024.
About National Bank of Fujairah PJSC:
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shari’ah compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.
NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1 / Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s and BBB / A-2 by Standard & Poor’s, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 14 across the UAE.
As part of its commitment to the community, Emirates Islamic, one of the leading Islamic financial institutions in the UAE, organised a Meer Ramadan (essential food items and commodities regularly needed during the Holy Month of Ramadan) distribution initiative, in association with Tarahum Charity Foundation.
In the spirit of generosity, Meer Ramadan distribution was arranged to aid those in need at two locations in the UAE, including Hatta City and Ras Al Khaimah.As a part of the initiative, Emirates Islamic employees united as volunteers to actively engage in the Meer Ramadan distribution drive and make a meaningful impact during the Holy Month.Emirates Islamic is an active contributor to community and development initiatives, with the bank’s staff regularly volunteering for a range of community activities across the UAE. Through the Emirates Islamic Charity Fund, the bank continues to provide support to several charitable, humanitarian and community activities.
