Egypt partners with Russia for desalination devices factory

Egypt partners with Russia for desalination devices factory
Egypt is looking to Russian expertise to help improve the quality of locally produced seawater desalination devices and technologies. (File photo courtesy: Al-Masry el-Youm)
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Updated 24 January 2021

Egypt partners with Russia for desalination devices factory

Egypt partners with Russia for desalination devices factory

CAIRO: Egypt is looking to Russian expertise to help improve the quality of locally produced seawater desalination devices and technologies, with the hope of setting up a specialized factory as part of the partnership between the two countries.

The decision was announced following talks between the Russian Rusnano organization, the Arab Organization for Industrialization, the Armed Forces Engineering Authority and Alexandria University.

“With this cooperation, we aim to increase the manufacturing of seawater desalination plants equipment and components with Egyptian national expertise,” the head of the Arab Organization for Industrialization, Abdel Moneim El-Terras, was quoted as saying.

El-Terras said that discussions had been held on establishing a specialized factory, in partnership with Russia, and with the technological capabilities of the Arab Organization for Industrialization.

He said that Rusnano was one of the most important and specialized entities in seawater desalination, adding that the discussions also aimed to increase local Egyptian production to reduce the need to import components.

El-Terras also discussed the possibility of signing an agreement to use Russian technology to convert cars to run on natural gas.


Saudi Arabia is biggest 5G adopter in the Gulf, report shows

Saudi Arabia is biggest 5G adopter in the Gulf, report shows
Updated 6 min 42 sec ago

Saudi Arabia is biggest 5G adopter in the Gulf, report shows

Saudi Arabia is biggest 5G adopter in the Gulf, report shows
  • Saudi Arabia’s 5G speed was “much faster than the global average”

DUBAI: Saudi Arabia has recorded the highest adoption of 5G technology compared to its Gulf neighbors, a new report showed.
Ookla, an Internet intelligence firm, revealed that the Kingdom had the most number of devices connected to 5G since its commercial release in 2019.
It was measured by looking at the ratio of samples from devices connected to 5G to the number of samples from all 5G-capable devices, which the firm said is an indicator of the maturity of a country’s 5G market.
Qatar came second, followed by the UAE. Oman, which only launched 5G early this year, was at the bottom of the list.
The report also noted Saudi Arabia’s 5G speed was “much faster than the global average.”
Its median download speed was 127 percent faster at 322.42 Mbps.
The Saudi Telecom Company emerged as the fastest operator in the Kingdom, but Mobily recorded the highest rating from customers.


NADEC consortium submits bid for privatized Saudi flour mill

NADEC consortium submits bid for privatized Saudi flour mill
Updated 20 April 2021

NADEC consortium submits bid for privatized Saudi flour mill

NADEC consortium submits bid for privatized Saudi flour mill
  • Saudi Arabia is accelerating plans to privatize key infrastructure in an effort to modernize the economy

DUBAI: Saudi Arabia's National Agricultural Development Company (NADEC) is part of a consortium that has bid for a privatized flour mill in the Kingdom.
It has teamed up with OLAM International Limited, Al Rajhi International for Investment and Abdulaziz Alajlan & Sons Company for Commercial and Real Estate Investment, to bid for one of two mills being privatized, the company said in a stock exchange filing.
The two mills are being offered for privatization by the Saudi Grains Organization.
NADEC said  it has agreed a "term sheet" relating to the creation of a limited liability company to acquire the mill should its bid be successful.
The potential acquisition would be financed through a combination of self-financing by the consortium members and borrowing from local banks, it said.
Saudi Arabia is accelerating plans to privatize key infrastructure in an effort to modernize the economy, speed major infrastructure works and develop its financial services sector.


Dubai’s external food trade hit $14.2bn in 2020

Dubai’s external food trade hit $14.2bn in 2020
Updated 20 April 2021

Dubai’s external food trade hit $14.2bn in 2020

Dubai’s external food trade hit $14.2bn in 2020
  • The emirate imported foodstuff worth 34.7 billion dirhams

DUBAI: Dubai’s external food trade reached 52 billion dirhams ($14.2 billion) in 2020, according to government data.
The emirate imported foodstuff worth 34.7 billion dirhams, Dubai Customs manager Nassim Al-Mehairi said, while exports and re-exports were valued at 10 billion dirhams and 7.3 billion dirhams respectively.
Food security is a major issue in the UAE, which has been investing in technology that will reduce its reliance on importing key staples.
Dubai Customs has streamlined its processes to accelerate the clearance of foodstuff shipments to ensure they are delivered to markets on time, especially during Ramadan when consumption is high, Al-Mehairi said.


Saudi Red Sea tourism plan to clinch a $3.7bn green loan

Saudi Red Sea tourism plan to clinch a $3.7bn green loan
Updated 20 April 2021

Saudi Red Sea tourism plan to clinch a $3.7bn green loan

Saudi Red Sea tourism plan to clinch a $3.7bn green loan
  • The Red Sea Development Co.’s SR14 billion ($3.7 billion) loan is set to close with a small group of local banks
  • The proceeds will be used to finance environmentally sustainable investment

RIYADH: Saudi Arabia is weeks away from clinching the first significant funding package for a key part of Crown Prince Mohammed bin Salman’s program to diversify the Kingdom’s economy, Bloomberg reported.
The Red Sea Development Co.’s SR14 billion ($3.7 billion) loan is set to close with a small group of local banks including Saudi National Bank, Banque Saudi Fransi, Riyad Bank and Saudi British Bank, the newswire reported, citing people familiar with the matter.
The deal to help fund the first phase of the development will be a so-called green loan. The proceeds will be used to finance environmentally sustainable investment, the people said, asking not to be identified as the information is private. It will have a tenor of 15 years and an interest rate of about 1 percent above the Saudi interbank offered rate, they said.
The company first started approaching banks for the loan in mid-2019, Bloomberg said.
Opening to tourism is one of the ways Saudi Arabia intends to diversify the economy away from oil. Its other ambitious projects include an entertainment hub near the capital Riyadh, and the new NEOM city in the north-west, which is expected to cost $500 billion to build.
The Red Sea Development, owned by the Kingdom’s sovereign wealth fund, will oversee a luxury tourism zone equivalent in size to Belgium. When the entire project is completed in 2030, it will target 1 million visitors a year, split evenly between domestic and international tourists.
Construction of a new international airport for the area has begun, and the first phase of the project is due to be completed with the opening of four hotels at the end of 2022.
12 more hotels will be open the following year, Chief Executive Officer John Pagano said in an interview in November.


IEA issues ‘dire warning’ on CO2 emissions as it predicts 5% rise

IEA issues ‘dire warning’ on CO2 emissions as it predicts 5% rise
Updated 20 April 2021

IEA issues ‘dire warning’ on CO2 emissions as it predicts 5% rise

IEA issues ‘dire warning’ on CO2 emissions as it predicts 5% rise
  • This year’s rise will likely be driven by a resurgence in coal
  • Global energy demand is set to increase by 4.6 percent in 2021

LONDON: Global CO2 emissions from energy are seen rising nearly 5 percent this year, suggesting the economic rebound from COVID-19 could be “anything but sustainable” for the climate, the International Energy Agency said on Tuesday.
The IEA’s Global Energy Review 2021 predicted carbon dioxide emissions would rise to 33 billion tons this year, up 1.5 billion tons from 2020 levels in the largest single increase in more than a decade.
“This is a dire warning that the economic recovery from the COVID crisis is currently anything but sustainable for our climate,” IEA Executive Director Fatih Birol said.
This year’s rise will likely be driven by a resurgence in coal use in the power sector, Birol added, which the report forecast to be particularly strong in Asia.
It should also put pressure on governments to act on climate change. US President Joe Biden will hold a virtual summit for dozens of world leaders this week to discuss the issue ahead of global talks in Scotland later this year. Last year, when power use dropped due to the COVID-19 pandemic, energy-related CO2 emissions fell by 5.8 percent to 31.5 billion tons, after peaking in 2019 at 33.4 billion tons.
The IEA’s annual review analyzed the latest national data from around the world, economic growth trends and new energy projects that are set to come online.
Global energy demand is set to increase by 4.6 percent in 2021, led by developing economies, pushing it above 2019 levels, the report said.
Demand for all fossil fuels is on course to grow in 2021, with both coal and gas set to rise above 2019 levels.
The expected rise in coal use dwarves that of renewables by almost 60 percent, despite accelerating demand for solar, wind and hydro power. More than 80 percent of the projected growth in coal demand in 2021 is set to come from Asia, led by China.
Coal use in the United States and the European Union is also on course to increase but will remain well below pre-crisis levels, the IEA said.