The outgoing South Korean president, Lee Myung-bak, toured the site of the plant in Barakah, in the Western Region, on November 21, marking the completion of almost a quarter of construction work eight weeks ahead of schedule. Courtesy of ENEC
The outgoing South Korean president, Lee Myung-bak, toured the site of the plant in Barakah, in the Western Region, on November 21, marking the completion of almost a quarter of construction work eighShow more

Atomic plant in Western Region powers ahead of schedule



November 21

The UAE's nuclear energy programme passed many milestones this year, as work began on the construction of the world's first new nuclear power plant since 1985.

Six nuclear deals have been signed by the Emirates, most recently with Russia, Canada and Australia.

The outgoing South Korean president, Lee Myung-bak, toured the site of the plant in Barakah, in the Western Region, on November 21, marking the completion of almost a quarter of construction work eight weeks ahead of schedule.

Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, and president Lee were present at a ceremonial groundbreaking at the site.

The US$20 billion (Dh73.47bn) project led by the Emirates Nuclear Energy Corporation (Enec) will build four nuclear reactors, with the first expected to be operational in 2017.

PSA DUBAI WORLD SERIES FINALS LINE-UP

Men’s:
Mohamed El Shorbagy (EGY)
Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
Miguel Angel Rodriguez (COL)
Gregory Gaultier (FRA)
Karim Abdel Gawad (EGY)
Nick Matthew (ENG)

Women's:
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
Joelle King (NZE)
Camille Serme (FRA)
Nouran Gohar (EGY)
Sarah-Jane Perry (ENG)

The biog

Name: Salvador Toriano Jr

Age: 59

From: Laguna, The Philippines

Favourite dish: Seabass or Fish and Chips

Hobbies: When he’s not in the restaurant, he still likes to cook, along with walking and meeting up with friends.

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Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.