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
Qatar’s sovereign wealth fund takes a stake in Audi’s future F1 team
- the Qatar Investment Authority will be “a long-term investor and partner” in the Audi F1 team
LUSAIL, Qatar: The sovereign wealth fund of Qatar is acquiring a “significant minority stake” in what will become Audi’s works Formula 1 team from 2026, in a deal announced Friday at the Qatar Grand Prix.
A joint statement said the Qatar Investment Authority will be “a long-term investor and partner” and provide “a substantial capital injection” that will help the team expand its infrastructure.
The team is currently competing as Sauber and will be rebranded as the Audi works outfit for 2026 after it reached agreement for a full takeover earlier this year.
“This additional capital will accelerate the team’s growth and is yet another milestone on our long-term strategy,” Audi chief executive Gernot Döllner said in the joint statement.
Qatar is already an investor in the Volkswagen Group, of which Audi is a part.
“QIA believes that Formula 1 is a sport with significant untapped investment potential,” QIA chief executive Mohammed Saif Al-Sowaidi said.
“The increasing commercialization of professional sports as an entertainment offering globally, and the increasingly global popularity of Formula 1, has made for an exciting opportunity for our first major motorsports investment.”
Sauber is changing both of its drivers for 2025, when Nico Hülkenberg and rookie Gabriel Bortoleto arrive to replace Valtteri Bottas and Zhou Guanyu.
It is the only team yet to score a point this season. Bottas placed 13th and Zhou 19th in Friday’s qualifying for the Saturday sprint race, which was the first competitive session since the agreement was announced.
Visionary eight-year-old Saudi wins global competition with glasses for blind
- Vision Friend uses cameras, sensors, and alarms
- Design beat nearly 1,000 entries from 19 countries
JEDDAH: An eight-year-old inventor from Saudi Arabia won an international competition for designing a pair of glasses that aim to help blind people navigate the world safely.
Lama Al-Badin, from Dammam, won an $800 cash prize for her Vision Friend design after beating nearly 1,000 entries from 19 countries in the “Glasses of the Future” competition.
Organized by the International Agency for the Prevention of Blindness, the competition challenged children worldwide to reimagine eyewear to support eye health and accessibility.
HIGHLIGHTS
• Organized by the International Agency for the Prevention of Blindness, the competition challenged children worldwide to reimagine eyewear to support eye health and accessibility.
• Despite her young age, Lama Al-Badin demonstrated resourcefulness throughout the competition. She acknowledged the challenges she faced during the design phase.
Al-Badin’a design impressed the jury with its cameras and sensors that would detect obstacles and alert blind and visually-impaired users of dangers through various alarm sounds and vibrations.
“I always have scientific discussions with my family at home, which often spark various ideas that serve life in meaningful ways,” Al-Badin told Arab News.
“When I learned about the competition through a school announcement, the idea for the glasses emerged. I envisioned them as a companion to help people face road dangers through sensor systems. I wanted to add warning tones to enhance their auditory sensitivity and active awareness.”
Her design incorporates eco-friendly materials such as bamboo and recycled plastic, and includes cutting-edge features like sensors, an alarm system, and a multi-functional charging case.
Despite her young age, Al-Badin demonstrated resourcefulness throughout the competition. She acknowledged the challenges she faced during the design phase and said, “embarking on a new experience was an exciting challenge for me.
“During the design phase, the main challenge was translating my idea and vision from paper into a digital design. At that point, I sought help from my older sister because I hadn’t yet learned this type of drawing.”
Winning the competition has brought immense pride to her family and the country. She said: “I feel happy and proud. Winning is a motivation for me to develop further and achieve more accomplishments.
“I feel proud and hope to be an active member in the development and building of my beloved country.”
Her family, too, played a pivotal role in her journey. “They were very happy with this wonderful achievement. My family is my primary supporter, and I thank them.
“They have been my source of inspiration and encouragement. Praise be to God, I live in an aware family. At home, we love exchanging information and brainstorming solutions to all kinds of problems.”
Al-Badin’s design resonated with Caroline Casey, president of the IAPB and a member of the competition jury.
“The thing that stood out the most was how conscious and aware Lama was about her role in protecting the planet that she lives on and her ability to see how technology can be an enabler,” she told Arab News.
“In her mind, there were no barriers in the way of creating a product that was friendly to the planet and friendly to humans. When you consider her glasses, you’d think, ‘Yeah, why aren’t I doing it?’”
She continued: “A young person’s imagination doesn’t seem to focus on what we can’t achieve but on what is possible. I just love her approach and can’t wait to wear a pair.”
Casey also underscored the broader impact of initiatives like the “Glasses of the Future” competition. She said: “I want every child to be able to ‘see their future,’ both literally and metaphorically. Ensuring that every single child on this planet has access to affordable, accessible eyecare and health determines the future potential of our global citizenship and planet.”
Alongside Al-Badin, five-year-old Grace Rita from Kenya won the Younger Kids category for her vibrant and imaginative glasses, A Friend for My Eyes.
Rita’s design focuses on making eyewear fun and approachable for children with features like glow-in-the-dark frames and customizable lenses.
Besides Casey, the competition’s judging panel was composed of a global jury of experts, including Jo Frost, parenting expert and TV personality, and Dr. Prabha Choksi, ophthalmologist and founder of the Dr. Choksi Vitiligo Foundation.
Frost told Arab News: “I was truly impressed by the creativity and innovation of these little geniuses, each design brought a big smile of joy. We can all agree that eye health is often overlooked in our busy day-to-day lives of raising children, despite its importance to a child’s development and future.
“However, with Lama’s design’s inclusiveness, scientific aspects, and Grace’s bright and inspiring colors, these designs not only demonstrate the need to engage children in the global conversation about eye health but also empower eyewear wearers around the world.”
The competition also comes on the heels of critical research by the IAPB, which revealed that children with low vision learn only half as much as their peers with good or corrected vision in school.
This study, released in collaboration with the Seva Foundation on World Sight Day, underscores the profound impact of early interventions like eye exams and prescription glasses.
Family returns to Lebanon to find a crater where their 50-year-old home once stood
- Intense Israeli airstrikes over the past two months leveled entire neighborhoods in eastern and southern Lebanon, as well as the southern suburbs of Beirut, which are predominantly Shiite areas of Lebanon where Hezbollah has a strong base of support
BAALBEK, Lebanon: In eastern Lebanon’s city of Baalbek, the Jawhari family gathered around a gaping crater where their home once stood, tears streaming as they tried to make sense of the destruction.
“It is heart-breaking. A heartache that there is no way we will ever recover from,” said Lina Jawhari, her voice breaking as she hugged relatives who came to support the family.
“Our world turned upside down in a second.”
The home, which was a gathering place for generations, was reduced to rubble by an Israeli airstrike on Nov. 1, leaving behind shattered memories and twisted fragments of a once-vibrant life.
The family, like thousands of Lebanese, were returning to check on their properties after the US-mediated ceasefire between Israel and Hezbollah went into effect early Wednesday.
BACKGROUND
Israeli airstrikes have left a massive trail of destruction across Lebanon.
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 airstrikes have left a massive trail of destruction across the country.
A photo of the Jawhari family’s home — taken on a phone by Louay Mustafa, Lina’s nephew — is a visual reminder of what had been. As the family sifted through the rubble, each fragment recovered called them to gather around it.
A worn letter sparked a collective cheer, while a photo of their late father triggered sobs. Reda Jawhari had built the house for his family and was a craftsman who left behind a legacy of metalwork. The sisters cried and hoped to find a piece of the mosque-church structure built by their father. Minutes later, they lifted a mangled piece of metal from the debris. They clung to it, determined to preserve a piece of his legacy.
“Different generations were raised with love ... Our life was filled with music, dance, and dabke (traditional dance). This is what the house is made up of. And suddenly, they destroyed our world. Our world turned upside down in a second. It is inconceivable. It is inconceivable,” Lina said.
Despite their determination, the pain of losing their home and the memories tied to it remains raw.
Rouba Jawhari, one of four sisters, had one regret.
“We are sad we did not take my mom and dad’s photos with us. If only we took the photos,” she said, clutching an ID card and a bag of photos and letters recovered from the rubble.
“It didn’t cross our mind. We thought it was two weeks and we will be back.”
The airstrike that obliterated the Jawhari home came without warning, striking at 1:30 p.m. on what was otherwise an ordinary Friday.
Their neighbor, Ali Wehbe, also lost his home. He had stepped out for food a few minutes before the missile hit and rushed back to find his brother searching for him under the rubble.
“Every brick holds a memory,” he said, gesturing to his library.
“Under every book you would find a story.”
GT World Challenge title to go down to the wire in Jeddah finale
- The 6 Hours of Jeddah race marks the final race of the GTWC season with Mercedes, Porsche and Ferrari battling it out for the title
JEDDAH: Mercedes-AMG Team GetSpeed topped Friday’s Free Practice in the GT World Challenge finale at the Jeddah Corniche Circuit, with Jules Gounon leading the way in a two-hour session that began in daylight and ended with the sun setting over the Red Sea.
The 6 Hours of Jeddah race marks the final race of the GTWC season with Mercedes, Porsche and Ferrari battling it out for the title.
Gounon was the first driver to break the two-minute barrier, posting a 1m 59.839s at the halfway mark. He subsequently shaved a further three hundredths of this to end Free Practice with a 1m 59.804s.
Matteo Cairoli came within touching distance of Gounon’s benchmark with a 1m 59.894s during the final 30 minutes. In doing so, the Iron Lynx Lamborghini jumped ahead of Maro Engel, whose time of 2m 00.093s demonstrated that the Mercedes Team Mann-Filter entry is fully up to speed following its testing accident on Thursday.
Gold Cup title favorite Sainteloc Racing placed fourth overall with Gilles Magnus at the wheel of the Audi. The Rutronik Racing Porsche continued the strong pace it demonstrated on Thursday by placing fifth overall and leading the Bronze Cup thanks to Loek Hartog.
The Boutsen VDS Mercedes-AMG was sixth, followed by the title-chasing AF Corse Francorchamps Motors Ferrari.
Sainteloc Racing also paced the Silver Cup with its #26 Audi. Kobe Pauwels posted a 2m 00.494s to place 19th overall. A total of 47 cars were on-track during Free Practice following the withdrawal of the Walkenhorst Motorsport Aston Martin, which crashed during Thursday’s Bronze Test.
In contrast with Thursday’s sessions, Free Practice brought almost no on-track incidents. A number of cars brushed the wall as they tested the limits of the high-speed Jeddah circuit, but there were no stoppages during the two-hour run.
However, there was more bad news for the Walkenhorst squad, which suffered a serious fire in one of its Aston Martins. No one was harmed in the incident, though the car’s continued participation in the event is unclear.
Where We Are Going Today: ‘Dazzling Cafe’ in Dammam
- Dazzling Cafe is a gem for dessert and coffee lovers alike, blending local craftsmanship with a chic setting
Nestled within vibrant Al-Nakheel Mall in Dammam, Dazzling Cafe is a sleek and stylish spot that has earned its reputation for delivering both aesthetic and flavorful experiences. The cafe boasts a warm ambiance with modern decor, making it an inviting place to enjoy handcrafted desserts and exceptional coffee.
What sets Dazzling Cafe apart is its dedication to offering locally made desserts. Each treat is prepared with care, from the rich tiramisu to the creamy cheesecake, showcasing flavors that feel both indulgent and authentic. The molten lava cake served piping hot in a skillet is a must-try for chocolate lovers, and the attention to detail in presentation elevates the experience.
Complementing the desserts is their exceptional coffee selection. The V60 pour-over coffee is a top choice for many, especially when made with their Costa Rican beans, which offer a smooth, vibrant flavor profile that pairs beautifully with their sweets. Whether you are a coffee enthusiast or simply someone who enjoys a good cup, their dedication to quality will impress.
However, the cafe does have one downside, as it is always crowded. Located in a busy mall, finding a table can be a challenge, especially during peak hours. Patience is key, but it is worth it once you settle in and savor the flavors.
Dazzling Cafe is a gem for dessert and coffee lovers alike, blending local craftsmanship with a chic setting. For the best experience, try visiting during quieter times to fully enjoy its charm.
For more information, check their Instagram @dazzling.cafe
