DUBAI: Emirates Global Aluminium (EGA), one of the world’s largest aluminum producers, reported a 59 percent increase in 2017 net profit, thanks to strong production and higher metal prices.
The UAE-based producer reported net income of 3.3 billion dirhams ($898.3 million) last year, from revenue of 25.5 billion dirhams — a 20 percent increase on 2016 sales.
“Record cast metal production of 2.6 million tons from 2.5 million tons in 2016 and a continuing focus on cost control and operational efficiency contributed to EGA’s strong performance amid favorable conditions in the global aluminum market,” the company said in a statement.
Sales of value-added products to 336 customers in 54 countries, which attract considerably higher premiums over LME prices, increased by 87,000 tons in 2017 to 2.1 million tons, representing 82 percent of total turnover for the year.
“One area of particular success in 2017 stems from our development over more than 25 years of our own energy efficient smelting technology. All our reduction cells run on EGA technology, reducing costs and environmental emissions,” said Abdulla Kalban, EGA’s managing director and CEO.
“We also continued to progress well in 2017 on our strategic growth projects that are expanding our business upstream to secure the natural resources we need. Once complete, Al-Taweelah alumina refinery in Abu Dhabi and GAC, our bauxite mining project in the Republic of Guinea, will deliver value for decades to come as well as create further long-term growth opportunities for EGA.”
Work on EGA’s $3.3 billion Al-Taweelah alumina refinery project is 76 percent complete and first alumina is expected during the first half of 2019, the company said.
Once fully operational, the Al-Taweelah alumina refinery would meet 40 percent of EGA’s requirements, helping to secure the competitive supply of the feedstock for aluminum smelters.
The $1.4 billion Guinea Alumina Corporation bauxite mine project, meanwhile, is 37 percent complete, with first bauxite exports expected during the second half of 2019.
Emirates Global Aluminium posts sharp rise in profits
Emirates Global Aluminium posts sharp rise in profits
2 children and a woman crushed to death outside Gaza bakery amid food shortage
Osama Abu Laban, the father of one of the girls, wailed over the loss of her life outside the hospital
GAZA: Two children and a woman were crushed to death Friday as a crowd of Palestinians pushed to get bread at a bakery in the Gaza Strip amid a worsening food crisis in the war-ravaged territory, medical officials said.
The bodies of two girls aged 13 and 17 and the 50-year-old woman were taken to the Al-Aqsa Martyrs Hospital in Deir Al-Balah in central Gaza, where a doctor confirmed that they died from suffocation due to crowding at the Al-Banna bakery. Video from The Associated Press showed their bodies placed next to each other on the floor inside the hospital’s morgue.
The flow of food allowed into Gaza by Israel has fallen to nearly its lowest level of almost 14-month-old war for the past two months, according to Israeli official figures. UN and aid officials say hunger and desperation are growing among Gaza’s population, almost all of which relies on humanitarian aid to survive.
Osama Abu Laban, the father of one of the girls, wailed over the loss of her life outside the hospital.
“My wife fell when she heard that she (our daughter) was suffocating. She did not yet know that she was dead,” he told the AP.
Some bakeries in Gaza were closed for several days last week due to a shortage of flour. AP footage taken last week after they reopened showed large crowds of people cramming together, screaming and pushing, at one bakery in Deir Al-Balah.
Palestinians across the Gaza Strip are heavily relying on bakeries and charitable kitchens, with many able to only secure one meal a day for their families.
In Lebanon, thousands of displaced people began returning to their homes this week after a ceasefire was announced between Israel and the Hezbollah militant group.
Many found their homes reduced to rubble after intense Israeli airstrikes over the past two months leveled entire neighborhoods in eastern and southern Lebanon, as well as the southern suburbs of Beirut. Nearly 1.2 million people have been displaced.
The truce was the first major sign of progress in the region since war began more than a year ago, triggered by Hamas’ attack on Israel on Oct. 7, 2023. But it does not address the devastating war in Gaza. For Palestinians in Gaza and families of hostages held in the territory, the ceasefire marked another missed opportunity to end fighting that has stretched on for nearly 14 months.
More than 44,000 people have been killed and more than 104,000 wounded, according to Gaza’s Health Ministry. Israel has destroyed large parts of Gaza and displaced nearly all of its 2.3 million people.
Bangladesh urges EU states to expedite formal recognition of Palestine
- Only 11 of 27 EU member states recognize the State of Palestine
- Bangladesh responds to EU’s declared commitment to a two-state solution
DHAKA: Bangladesh has called on EU member states to expedite the formal recognition of the State of Palestine and use their influence to prevent permanent members of the UN Security Council from obstructing a ceasefire in Gaza.
Bangladesh’s delegation took part in a meeting of the Global Alliance for the Implementation of the Two-State Solution in Brussels on Thursday, where the EU foreign policy chief emphasized the bloc’s commitment to a two-state solution — providing Palestinians with their own nation-state — as “the only viable path to peace in the region.”
But so far, only 11 out of 27 EU member states recognize the State of Palestine, with three — Spain, Ireland and Slovenia — doing so earlier this year in the wake of Israel’s deadly onslaught in Gaza and with a genocide case against Tel Aviv ongoing in the International Court of Justice.
“The Bangladeshi delegation urged the participating member states to expedite their formal recognition of the State of Palestine, affirming this as a crucial step toward legitimizing and empowering Palestinian sovereignty and self-determination,” the Bangladeshi Ministry of Foreign Affairs said in a statement following the meeting.
For Bangladesh, which established diplomatic ties with Palestine soon after achieving independence in 1971, formal recognition of Palestinian statehood, was key to achieving peace.
“Already 149 countries have supported the UN recognition of the Palestinian state’s membership,” said Shafiqur Rahman, director general of the Bangladeshi Foriegn Affairs Ministry’s West Asia wing, who led the delegation to Brussels.
“It’s very important to galvanize and mobilize the global community. We must continue to apply pressure, and efforts should persist in this regard. There is no room for giving up,” he told Arab News on Friday.
The Bangladeshi delegation also called on EU member states to leverage their influence to discourage any vetoes by permanent members of the UN Security Council “that could obstruct adopting a permanent ceasefire in Gaza war and resultant peace initiatives.”
The most recent UNSC resolution demanding an “immediate, unconditional and permanent” ceasefire in the Gaza Strip was voted down by the US last week, as Israel’s deadly bombardment of the Palestinian territory continues.
It was the fourth time Joe Biden’s administration has vetoed a UNSC Gaza ceasefire resolution, blocking international action to halt Israel’s war, which over the past one year killed at least 44,000 Palestinians, injured over 100,000 more and destroyed most of Gaza’s civilian infrastructure.
Philippines looks to boost ties with Bahrain’s tourism, hospitality sector
- Bahraini government is preparing to open its embassy in Manila
- Cebu and Palawan are top destinations for Bahraini tourists in Philippines
MANILA: The Philippines is expanding collaborations with Bahrain to mutually boost tourism and hospitality expertise, Christina Frasco, the Philippine tourism secretary, said on Friday.
While other GCC countries have for years been the main overseas destination for Filipinos, relations with Bahrain started to expand only recently, with the Bahraini government preparing to open its embassy in Manila this year.
Frasco, who visited Manama earlier this month, held talks with her Bahraini counterpart Fatima Al-Sairafi on increasing tourism between the two countries.
“They’re very interested in learning from our world-renowned Filipino hospitality, as well as our brand of service excellence, and in collaborating to increase opportunities for meetings, incentives, conventions, and exhibitions,” Frasco told Arab News.
Some 57,000 Filipinos currently live in Bahrain, working mainly as accountants, engineers, construction contractors, sales associates, and business and government support staff. The tourism sector, however, remains untapped territory.
“We discussed the potential of wide-reaching collaborations between Bahrain and the Philippines, first and foremost on joint cooperation to increase tourist flows,” Frasco said.
“We also discussed how we may be able to further expand connectivity between Bahrain and the Philippines, not only with Manila, but with other places in the country, especially since, as I learned when I was in Bahrain, there are certain destinations (in the Philippines) that are very popular with the people of Bahrain, such as Cebu and Palawan.”
The number of tourists from Bahrain has been on the rise, with more than 5,500 visiting the Philippines from January to October this year — a 16-percent increase over the same period in 2023.
The Philippines has been trying to attract more visitors from Middle Eastern countries and has been encouraging the local hospitality industry to introduce standards that will make their properties and services attractive to Muslim tourists.
“We note that these countries have recovered very well (from the COVID pandemic travel shutdown) ... and we wish to be able to grow this momentum further by forging strategic collaborations with them,” Frasco said.
“Connectivity is one thing that we are continuing to focus on, as well as really ensuring that our tourist destinations are prepared to receive tourists from that region. This includes the growth of our halal and Muslim-friendly establishments.”
Ronaldo’s brace keeps Al-Nassr in title race after beating Damac 2-0
- It was far from a vintage performance by the Riyadh club
- Al-Nassr should have extended their lead on numerous occasions
RIYADH: Cristiano Ronaldo scored twice on Friday to give Al-Nassr a vital 2-0 win over Damac that keeps the Riyadh hosts in the title race.
It was far from a vintage performance by the Riyadh club but they move on to 25 points from 12 games, three behind Al-Hilal and five behind Al-Ittihad, with the top two teams in action on Saturday.
Ronaldo went closest early on, heading over from a good position but had an even better one after 16 minutes as Al-Nassr were awarded a penalty following a handball in the area from Abdelkader Bedrane.
Ronaldo stuttered and delayed his run-up before drilling a low shot into the bottom-left corner beyond the diving Amin Al-Bukhari to show his famous “Siu” celebration for the 57th time in 58 league games for the Yellows.
Al-Nassr should have extended their lead on numerous occasions. Angelo rolled two shots just wide of the post while Sadio Mane had a close-range effort saved by Al-Bukhari after being put through on goal by a Ronaldo backheel in the area.
At the break, Nassr coach Stefano Pioli would have been frustrated by his team not getting a second, and after play resumed, the Italian would have been unhappy at his time looking sloppy at the back. More than once Bento had to save the team from defensive laxness.
Some of the pressure was removed after 55 minutes as Damac were reduced to ten men. The unfortunate Bedrane saw red for a dangerous challenge on Mohamed Simakan.
The visitors still managed to cause problems for the star-studded hosts but Ronaldo sealed the win with 10 minutes remaining. Nawaf Boushal got to the byline on the left and provided the five-time Ballon D’Or winner with the perfect pullback and the Portuguese star did the rest, firing a left-footed shot powerfully home. It was his ninth league goal of the season so far.
Al-Qadsia stay fourth behind Al-Nassr on goal difference with a 1-0 win at home to Al-Khaleej, a fifth league victory in succession for the newly promoted team.
Japanese orchestra meets video gaming in Riyadh
- Japanese orchestra meets video gaming in Riyadh
RIYADH: What does video gaming and the orchestra have in common? Collaboration, immersive experiences, and the art of storytelling at its finest.
The world-renowned Tokyo Philharmonic Orchestra spoiled guests with two nights of concerts powered by Qiddiya Gaming at Princess Nourah University’s Red Hall on Thursday and Friday.
Producer and director of Final Fantasy XIV Naoki Yoshida and renowned sound editor and composer Masayoshi Soken took the opportunity to introduce themselves to a full house of fans, wearing traditional Saudi thobes.
Arab News had the opportunity to interview Yoshida, Soken, senior story designer Natsuko Ishikawa, and localization supervisor Michael-Christopher Koji Fox.
Yoshida expressed his gratitude toward the game’s loyal fans in the Middle East, saying: “I’m really appreciative of the fans in the Middle East and Saudi Arabia that have loved the Final Fantasy franchise.
“We are finally here to give back to the community that’s loved us and supported us for so long. To be able to bring them the excitement, we are bringing them sound and music.
“We don’t envision this as the end; we envision this as something that’s going to connect us into the future.”
In the first part of the concert, the orchestra performed works like “Victory Fanfare” and “Moebius.”
In order to give gamers a true gaming experience, Soken had the idea of creating the same in-game pause during the orchestra’s performance to reflect the battle in the game.
Soken said: “During that battle, there’s an in-game mechanic where time stops and the player stops, so when playing that song in concert we want the players to feel like that in music; the game experience and their memories of the game are connected in that way.
“We wanted to figure out a way to recreate that time stop while being played in the concert by an orchestra. So the idea we came up with is if time stops in the game, how about making the concert stop?”
Soken’s idea was turned into reality and the crowd was in awe as the orchestra paused for a few seconds.
In charge of creating graphics and videos, Ishikawa said her job was about picking scenes that resonated with the players.
She said: “What we created here feels like it was created by the Final Fantasy development team, even though it’s a concert.”
Unlike a typical concert, in which each song evokes different emotions to each individual, Soken said gaming concerts created a joint emotional experience.
Soken said: “With a game concert, everyone is experiencing the same thing because they experienced the same game, so everyone shares that excitement.”
More than 100 musicians traveled from Japan, accompanied by vocalists, to bring the soundtrack from Final Fantasy XIV to life.
Soken said: “We know that Saudi Arabia and Japan have a long history of friendly collaboration but there has not been a lot with music, and there’s probably been nothing with gaming music.
“The people that experience (the concert) will be able to go home and tell their friends how exciting an experience it was and how these people from Japan brought this great thing that we have never seen before.”
The event also offered fans a dedicated merchandise area featuring exclusive items and other products shipped directly from Tokyo.
Diamond ticket holders also had the opportunity to meet Yoshida, Soken, Ishikawa, and Fox, receiving a signed poster and photo.
With over 30 million total registered players, Final Fantasy XIV is one of the most popular MMORPG games today, while Qiddiya, which was launched in 2018 under the leadership of King Salman, is an emerging capital for entertainment, sports and culture that aims to enhance the quality of life of visitors and residents.
