Daily Archives: May 15, 2020

ADNOC CEO sees signs that oil markets have tightened in recent weeks and will rebalance over time

ABU DHABI, Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company, ADNOC, says there are signs that oil markets have tightened in recent weeks and will rebalance over time.

Speaking on ADNOC’s “Virtual Majlis” with Helima Croft, Managing Director and Global Head of Commodity Strategy at RBC Capital Markets, Dr. Al Jaber said the world is in unchartered territory and right now, no one is in a position to predict exactly what the global economic recovery will look like. While this outlook remains unpredictable, Dr. Al Jaber highlighted reasons for cautious optimism in oil markets.

“When it comes to oil, there are signs that the market has tightened in recent weeks. The OPEC-plus agreement, voluntary cuts outside OPEC-plus plus, and production shut-ins are working together to start to rebalance the market. This will take time. As economies begin to open up, demand will follow, but the path to the next normal is not a straight line,” Dr. Al Jaber said.

Dr. Al Jaber continued by highlighting how ADNOC is reaping the benefits of its transformation over the past four years as it navigates this period of uncertainty.

“We are seeing the benefits of the steps we have taken on over the last four years. In fact, this crisis has highlighted just how forward-thinking our leadership’s guidance has been in directing this transformation. As a result, ADNOC is now far stronger and better positioned to manage the current market dynamics.

“Through our transformation, we have focused on what we can control and that is our costs. We’ve been laser-focused on being one of the lowest-cost producers in the world. And this has given us the flexibility and the resilience that we need at times like these. In this environment, we are continuing to work even harder to preserve our resources, and maximize our profitability,” Dr. Al Jaber said.

Dr. Al Jaber stressed ADNOC continues to make the health and safety of its employees its top priority as it proactively responds to the risks presented by the COVID-19 situation. He detailed how this approach closely aligns with the wise measures put in place by the UAE leadership to ensure the health and safety of everyone living in the country while driving health diplomacy around the world.

“The foundation of the UAE’s response has been comprehensive testing. We have so far conducted well over 1.5 million tests, one of the highest, if not the highest per capita ratios in the world. At the same time, the UAE believes that international cooperation is key to managing the crisis. So, we are staying connected to the rest of the world through health diplomacy, delivering aid, and personal protective equipment to 47 countries when they need it most.

“At ADNOC, we have taken additional precautions to enhance the safety of our employees, including comprehensive testing, minimizing staff on site, and ensuring all office-based staff can work effectively from home. On top of that, transparent communication has been critical,” Dr. Al Jaber said.

The pandemic has highlighted the importance of three key leadership qualities – Capability, Crisis Management, and Connectivity, according to Dr. Al Jaber.

“Fundamentally, the capability of every organisation in keeping their people safe, and their operations running smoothly is being tested. At the same time, leaders are being measured against how well they manage a crisis, ensuring their organizations can run under stress. And then connectivity, how clearly leaders communicate to their people what they need to do to stay safe,” Dr. Al Jaber said.

Concluding the majlis, Dr. Al Jaber underscored the importance of business leaders conveying a positive, optimistic, and credible way forward, with humility and honesty. “It is essential to communicate a message of unity, that we are in this together and will find our way through together,” Dr. Al Jaber added.

ADNOC’s virtual majlis is part of several initiatives the company embarked on last month as part of its participation in the “UAE Volunteers” initiative. Broadcasted on ADNOC’s social media platforms, the virtual majlis is bringing together UAE government leaders and global experts to engage on the key issues facing the world today and provide actionable insights to topics ranging from how to rebuild the global and domestic economy, to what the post-COVID-19 workplace should look like.

Source: Emirates News Agency

Ministry of Health announces 38,000 additional COVID-19 tests as part of intensified screening, 747 new cases, 398 recoveries and two deaths

ABU DHABI, The Ministry of Health and Prevention has conducted 38,000 additional tests as part of its plan to increase the number of COVID-19 tests throughout the country for the early detection of infections, particularly among those who had contact with already infected cases.

Testing resulted in the detection of 747 new cases among various nationalities, bringing the total number of infections in the country to 21,831.

The new cases are in stable condition and undergoing the necessary medical treatment.

The Ministry also announced the death of two patients due to complications arising from COVID-19. The total number of deaths from COVID-19 in the country now stands at 210.

The Ministry offered its sincere condolences to the families of the deceased and wished a speedy recovery to patients currently undergoing medical care.

The Ministry also announced that 398 people infected with the virus have fully recovered after receiving the necessary medical care, bringing the total number of recoveries to 7,328.

In the interest of the general public’s health and safety, the Ministry called upon the public to adhere to health guidelines and instructions from the relevant authorities, particularly concerning social distancing.

Source: Emirates News Agency

’10 Million Meals’ Campaign’ concludes with over 15 million meals in less than a month

DUBAI, The ’10 million meals’ campaign concluded after drawing overwhelming donations that secured over 15 million meals for Covid-19-hit communities in the UAE in less than a month.

Her Highness Sheikha Hind bint Maktoum bin Juma Al Maktoum, wife of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, and Chairperson of the Board of Trustees of UAE Food Bank, said the ’10 million meals’ campaign has presented a practical humanitarian response to the ongoing Covid-19 pandemic.

The UAE’s biggest food distribution drive, she noted, opened new horizons of humanitarian work in the UAE society by bringing everyone together to support the vulnerable against the global pandemic.

The campaign, overseen by the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) in collaboration with Social Solidarity Fund Against Covid-19, drew donations from 110,000 individuals and companies of 115 nationalities to provide over 15 million meals and food parcels to people in need. With the help of over 1,000 volunteers, 6.5 million meals have so far been distributed across the country.

Sheikha Hind bint Maktoum said, “the ’10 million meals’ campaign reflects the UAE’s commitment to providing necessary resources that ensure a decent life for all at times of crisis.” She added, “The global pandemic has affected everyone across the world. In the UAE, we are keen to overcome this crisis together, without leaving anyone in need.”

She praised the massive response of individuals and companies to the ’10 million meals’ campaign that exceeded its target within only the first week of its launch, drawing even more donations throughout. She noted, “The overwhelming response that continued, even after the campaign had exceeded its target within the first week, indicates the powerful solidarity of the UAE society.”

Commending corporate donations, Sheikha Hind bint Maktoum said, “The impactful contributions of public and private entities and the humanitarian sector fulfill corporate social responsibility through providing food support for low-income individuals and families most affected by the covid-19 pandemic.”

She stressed that the contributions of citizens and residents from over 115 nationalities capture the core fabric of the UAE’s diverse society that is based on tolerance and coexistence. “At times of crisis, we get to witness the results of the values we have deeply rooted in our society since the foundation as we succeed in uniting people from different cultures and nationalities to empower and bring happiness for one another.”

His Highness Sheikh Mohammed bin Rashid Al Maktoum had announced the launch of the ’10 million meals’ campaign earlier in April to provide food support for communities hit hardest by the Covid-19 pandemic that left many facing unemployment and income reduction.

The campaign enabled individuals, companies, government entities and humanitarian organizations to make financial and in-kind donations towards providing meals and food parcels to low-income individuals and families throughout the month of Ramadan.

Online donations secured 1.4 million meals, while SMS donations helped provide 771,535 meals. In-kind donations made through the campaign’s call center amounted to 726,392 meals.

While companies and prominent entrepreneurs pledged 5.7 million meals, collective donations of humanitarian and charity organizations helped secure 6.8 million meals. The Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment took the lead by donating Dh20million at the beginning of Ramadan, later followed by an additional Dh9 million to collectively secure 3.62 million meals with the total Dh29 million donation.

Under the supervision of MBRGI and the Social Solidarity Fund Against Covid-19, meals and food parcels are delivered in a logistical distribution network developed in collaboration with partnering entities to ensure swift and efficient delivery of food to beneficiaries across the country. The campaign’s different teams were assigned different roles in food catering, sterilization, packaging, loading and transport, leading up to the nationwide distribution.

The UAE Food Bank, Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment (MBRCH), and UAE Water Aid Foundation (Suqia UAE) are executing the ’10 million meals’ campaign in collaboration with ministries, federal and local entities and humanitarian and charitable organizations in the UAE.

Later in Ramadan, the MBRGI launched the World’s Tallest Donation Box in collaboration with Burj Khalifa. The unique initiative enabled people to buy Burj Khalifa lights with as a little as Dh10 each to help provide meals for those affected by the Covid-19 pandemic. Every light purchased for Dh10 on www.tallestdonationbox.com provided a meal for someone in need. The donations lit one pixel at a time, illuminating Burj Khalifa’s 1.2 million lights in less than a week in a message of hope and solidarity to the world amid the global pandemic. The initiative alone secured 1.2 million meals for the ’10 million meals’ campaign.

The World’s Tallest Donation Box went viral on social media with thousands of users encouraging each other to donate. The initiative also attracted widespread local and international media coverage with over 150 TV and print reports.

In-kind contributions to the ’10 million meals’ campaign transcended the average food supplies and items, attracting tonnes of fruits like bananas, apples and dates, millions of water bottles, ice cream, juice packs, and frozen chicken. Fast food chains also provided meal vouchers. The unique donations helped provide nutritious meals and enriched the diversity of food provided.

Over 1,000 volunteers, aged between 18 and 53, have so far participated in the ’10 million meals’ campaign, taking up different tasks from responding to calls, distributing meals on field and following up with beneficiaries. The volunteers joined through the five platforms of Dubai Municipality, ‘Your City Needs You’ initiative, volunteers.ae, Community Development Authority (CDA) and Hope Makers Development Programme.

Source: Emirates News Agency

Abdullah bin Zayed chairs two virtual meetings of Education and Human Resources Council

ABU DHABI, H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Chairman of the Education and Human Resources Council (EHRC) has sent a message of thanks and appreciation to nurses on the occasion of the International Nurses Day, observed on May 12 every year, describing them as a “role model for dedication, and hard work.”

This came as H.H. Sheikh Abdullah recently chaired two virtual meetings of the EHRC to review the efforts made at the country level to ensure continuity of learning under the current circumstances the country is going through.

“Nurses and paramedics are valiantly and wholeheartedly performing their role in their capacity as our first-line of defence in the face of COVID-19; their profession embodies the true meanings of mercy, compassion and noble human values,” Sheikh Abdullah added.

During the meeting, Dr. Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills, reviewed a scheme mooted in a cabinet meeting recently under the title “Data of Education and Labour Market” which is aimed at adopting best international practices in terms of decision making by providing decision makers and legislators a comprehensive database enabling them to launch projects and initiatives based on statistical analysis and future-oriented visions.

The project envisages data pooling from six government entities: Ministry of Education; Ministry of Human Resources and Emiratisation; Department of Education and Knowledge-Abu Dhabi; Knowledge and Human Development Authority; General Pension and Social Security Authority; and Abu Dhabi Retirement Pension & Benefits Fund, to ensure adopting a holistic approach of students’ transition to labour market.

Hussain bin Ibrahim Al Hammadi, Minister of Education, reviewed the Smart Learning Portal provided by the Ministry as part of the distance learning system, shedding light on the 14 digital platforms available via the portal to ensure providing content aligned to the syllabi taught across various academic stages.

“The ministry has launched constant channels of communication with various countries to cement cooperation and exchange experience in the education field, as well as provided logistics support for friendly countries to mitigate the impact of the health crisis on their students,” said the minister.

Hessa Essa Buhumaid, Minister of Community Development, reviewed a study on the impact of self-isolation on people of determination and the challenges they meet under the current circumstances, explaining that the study targeted 2000 individuals.

The meeting was attended by Sultan bin Saeed Al Mansouri, Minister of Economy, Hussain bin Ibrahim Al Hammadi, Minister of Education, Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development, Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, Hessa Essa Buhumaid, Minister of Community Development, Jameela Al Muheiri, Minister of State for Public Education, Dr. Ahmad bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Higher Education and Advanced Skills, Shamma bint Suhail Faris Al Mazrui, Minister of State for Youth Affairs, Sarah bint Yousif Al Amiri, Minister of State, Sara Awad Issa Musallam, Chairperson of the Abu Dhabi Department of Education and Knowledge, Saeed Ahmed Ghobash, Chancellor of the UAE University, Dr. Abdulla Al Karam, Chairman of the Board of Directors and Director General of the Knowledge and Human Development Authority, Dubai, Dr. Muhadditha Al Hashimi, Chairperson of the Sharjah Private Education Authority, and Mohamed Khalifa Al Nuaimi, Director of the Education Affairs Office at the Crown Prince Court.

Source: Emirates News Agency