UAE's Barakah Nuclear Plant Doubles Clean Electricity Generation with Start of Commercial Operations at Unit 2

The Emirates Nuclear Energy Corporation (ENEC) announced the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant.
The Emirates Nuclear Energy Corporation (ENEC) announced the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant.
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UAE's Barakah Nuclear Plant Doubles Clean Electricity Generation with Start of Commercial Operations at Unit 2

The Emirates Nuclear Energy Corporation (ENEC) announced the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant.
The Emirates Nuclear Energy Corporation (ENEC) announced the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant.

The Emirates Nuclear Energy Corporation (ENEC) announced on Thursday the start of commercial operations of Unit 2 at the Barakah Nuclear Energy Plant, reported the United Arab Emirates' state news agency (WAM).

Unit 2 adds 1,400 megawatts of zero-carbon emission electricity to the national grid, bringing the total produced by Units 1 and 2 to 2,800 megawatts and further securing energy supply and advancing the UAE's sustainability goals.

This new milestone takes ENEC and its subsidiaries to the halfway mark of delivering on its commitment to supply up a quarter of the country's electricity needs, reliably powering the economy by generating clean electricity 24/7 and significantly contributing to the UAE's Net-Zero by 2050 initiative.

With Unit 2 commercially operational, the Barakah Plant, the first multi-unit operating plant in the Arab world, is leading the largest decarbonization of any industry in the region, delivering thousands of megawatts of carbon-free electricity every single day.

Mohamed Ibrahim Al Hammadi, Managing Director and CEO of ENEC, said: "The Barakah Nuclear Energy Plant is a sustainable powerhouse for the UAE. The start of commercial operations at Unit 2 doubles the Barakah Plant's generation of emissions-free electricity, enabling rapid decarbonization of the UAE's power sector in pursuit of Net Zero 2050."

"With Unit 2 reaching commercial operations less than 12 months after Unit 1, we have demonstrated the UAE's megaproject capabilities, building institutional knowledge to enhance delivery to the highest standards and offer a successful case study for other nations looking to diversify their energy portfolio using a proven and sustainable technology."

While increasingly supporting the country's strategy to diversify energy sources in a shift towards cleaner energy, ENEC is also spearheading the UAE Net-Zero by 2050 Strategic Initiative by preventing millions of tons of carbon emissions and helping to tackle climate change and deliver climate solutions.

When its four units are commercially operating, the Barakah Plant will produce up to 25 percent of the UAE's electricity needs and prevent about 22.4 million tons of carbon emissions annually, equivalent to the emissions of 4.8 million cars. The Barakah Plant significantly boosts the UAE's energy security through domestic clean electricity generation.

By 2025, the plant will generate more than 85 percent of Abu Dhabi's clean electricity, making it the biggest contributor to reducing Abu Dhabi's carbon emissions by 50 percent by the middle of the decade.

Nasser Al Nasseri, the CEO of Barakah One Company, ENEC's subsidiary in charge of representing the financial and commercial interests of the Barakah Plant project, said: "Today is an integral day for the delivery of the Barakah Nuclear Energy Plant project with the commercial operations of Unit 2, we are now selling double the volume of electricity to the Emirates Water and Electricity Company (EWEC) per the Power Purchase Agreement signed in 2016."

"We are committed to efficient and reliable power generation to ensure homes, businesses and industry across the UAE have continuous access to clean baseload electricity and will do so for the coming 60 years ahead. The sale of electricity further supports Abu Dhabi's Clean Energy Certification program, allowing more businesses to demonstrate the sustainability credentials and stimulating the growth of our Net Zero economy."

The commercial operations of Unit 2 were completed with the continuous support of EWEC and the Abu Dhabi Transmission and Dispatch Company (TRANSCO). EWEC and TRANSCO's support in maintaining a world-class electric grid infrastructure is critical for the reliable distribution of electricity from the Barakah Plant. They ensured that the clean electricity generated at Barakah is delivered to consumers across the UAE safely and sustainably.

Ali Al Hammadi, CEO of Nawah Energy Company, ENEC's subsidiary mandated to operate and maintain the Barakah Plant, commented: "The start of Unit 2 commercial operations comes as a result of the world-class operating experience of our teams made up of UAE nationals and international experts. Over the years, they have the skills and expertise in the nuclear industry to safely provide constant, reliable and sustainable clean electricity around the clock from two identical units operating in parallel."

"We are committed to operating the plant in line with the UAE's robust regulations and international best practice on our ongoing journey to operating excellence."

Unit 2 joins Unit 1, which kicked off commercial operation in April 2021. Units 3 and 4 are in the final stages of commissioning, with Unit 3 construction already complete and now undergoing operational readiness preparations and Unit 4 is in the final stages of construction completion. The development of the Barakah Plant is now more than 96 percent complete, having steadily progressed since construction started in 2012.

The Barakah Nuclear Energy Plant, located in the Al Dhafra Region of the Emirate of Abu Dhabi, is one of the largest nuclear energy plants in the world, with four APR-1400 units. While delivering on its clean energy vision through the peaceful nuclear program, ENEC also provides talented UAE youth with the skills, capabilities and experience necessary to become the future leaders of the nation's growing peaceful nuclear energy sector.



Syria Prepares to Launch New Currency Amid Major Challenges

Syrian Central Bank Governor Abdulkader Husrieh (X)
Syrian Central Bank Governor Abdulkader Husrieh (X)
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Syria Prepares to Launch New Currency Amid Major Challenges

Syrian Central Bank Governor Abdulkader Husrieh (X)
Syrian Central Bank Governor Abdulkader Husrieh (X)

Syria’s central bank governor, Abdulkader Husrieh, said the new Syrian pound is not merely a means of exchange but a symbol of the success of the Syrian revolution, national belonging, and confidence in the country’s ability to recover.

In a Facebook post, Husrieh said that with the launch of the new currency, Syrians were not just celebrating a banknote, but also celebrating their sovereignty and national identity, noting that many international experiences show that national currencies become strong when people rally around them, according to the Syrian Arab News Agency.

He pointed to Germany’s experience, where the introduction of the mark after the war marked the starting point of economic recovery, and to France, where the new French franc became the financial symbol of the new republic, known as the Fifth Republic.

Husrieh said the central bank would carry out its role with a clear understanding of the challenges and opportunities, while committing to responsibility, transparency, and the protection of the national currency. He added that the cornerstone remains public solidarity and trust, because a strong currency begins with the people's belief in it.

He called for turning the launch into a dignified national occasion through which Syrians express awareness, confidence, and adherence to the pound as a symbol of sovereignty and a national choice.

Husrieh added that supporting the pound is supporting the nation, and taking pride in it is a matter of pride in the future for Syrians and their children. He described the move as an opportunity for a new success following the success of the revolution in liberation and the lifting of economic sanctions that had shackled Syria’s economy for nearly fifty years.

Husrieh had recently announced that Jan. 1, 2026, would mark the launch of the new Syrian currency and the start of the exchange process for the old notes, with the exchange to be carried out through 66 companies and 1,000 designated outlets.

Restoring confidence

Political and economic researcher Bassel Kouwefi said the exchange plans, if well implemented, could serve as an entry point for rebuilding confidence in the national economy, encouraging domestic investment, and paving the way for broader reforms in the financial sector. However, he warned against failing to address the root causes of inflation and economic collapse during the previous regime's rule.

Speaking to Asharq Al-Awsat, Kouwefi described currency exchange and the removal of zeros as complex economic measures.

He said their main benefits include simplifying daily transactions, reducing the volume of banknotes in circulation, boosting confidence in stability, lowering printing and transportation costs, simplifying accounting records and financial software, and reducing currency speculation driven by corruption networks seeking to undermine stability in Syria.

Kouwefi said the exchange plans, if well-executed, could help restore confidence in the macroeconomy, but stressed the challenges posed by failing to tackle the fundamental causes of past inflation and collapse, including fiscal deficits, instability, and weak production. He said a comprehensive economic and financial program was therefore essential.

He added that the process also requires strong banking infrastructure, an organized transition period, and sufficient liquidity in the new denominations.

He said these remain major challenges under current Syrian conditions, alongside the need to mitigate social impacts that could lead to public confusion, market exploitation, and difficulties for less informed segments of society.


Russia Extends Ban on Gasoline Exports Until February

Gasoline tank trucks are seen outside the Rosneft Achinsk oil refinery plant, one of the biggest Siberian fuel suppliers, near the town of Achinsk, some 188 km (117 miles) west of Krasnoyarsk, April 28, 2011. REUTERS/Ilya Naymushin
Gasoline tank trucks are seen outside the Rosneft Achinsk oil refinery plant, one of the biggest Siberian fuel suppliers, near the town of Achinsk, some 188 km (117 miles) west of Krasnoyarsk, April 28, 2011. REUTERS/Ilya Naymushin
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Russia Extends Ban on Gasoline Exports Until February

Gasoline tank trucks are seen outside the Rosneft Achinsk oil refinery plant, one of the biggest Siberian fuel suppliers, near the town of Achinsk, some 188 km (117 miles) west of Krasnoyarsk, April 28, 2011. REUTERS/Ilya Naymushin
Gasoline tank trucks are seen outside the Rosneft Achinsk oil refinery plant, one of the biggest Siberian fuel suppliers, near the town of Achinsk, some 188 km (117 miles) west of Krasnoyarsk, April 28, 2011. REUTERS/Ilya Naymushin

Russia has extended the temporary ban on gasoline and fuel exports, including producers and intermediaries, until the end of next February, the Russian news agency Interfax said, citing a government website.

“The new decree extended the temporary ban on the export of gasoline outside the country until February 28, 2026, inclusive. It will be valid for all exporters, including direct producers,” the website wrote.

The decree also extends the ban on the export of marine fuel, vacuum gas oil and other types of gas oils, including volumes purchased at exchange auctions, until 28 February 2026. In this case, the restriction will not apply to direct producers of petroleum products.

Russia introduced the measures at the end of August due to the exacerbation of the fuel crisis.

Several major refineries were attacked by drones in August and September, including Surgutneftegaz's Kirishinefteorgsintez refinery, Lukoil's Volgograd refinery and Rosneft's Samara group of refineries.

Prices for gasoline, which are tightly monitored by authorities, were up 10.2%, above general inflation, since the start of the year, with the spike in part attributed to a step up in Ukrainian attacks on Russian refineries.

Last October, US President Donald Trump mentioned “long lines waiting for gasoline” and said the Russian “economy is going to collapse.”

Trump said his Russian counterpart Vladimir Putin should settle the war in Ukraine which was making Russia look bad.

Asked about Trump's remarks at an energy conference in Moscow, Deputy Prime Minister Alexander Novak, who oversees energy and the economy for the government, said that Russia had a stable supply of gasoline.

“We have a stable domestic market supply, we see no problems in this regard,” Novak said.

“The balance is maintained between production and consumption, and we, on the part of the government and the relevant ministries, are doing everything to ensure that this remains the case.”

Russia's seaborne oil product exports fell 17.1% in September from August to 7.58 million metric tons due to less fuel production as various refineries were impacted by drone attacks, data from industry sources and Reuters calculations showed.

The economy is slowing sharply this year and the government forecasts gross domestic product (GDP) growth of 1.0% after 4.3% growth in 2024 and 4.1% growth in 2023, though the International Monetary Fund has downgraded its 2025 forecast to 0.6% from 0.9%.


Hong Kong Expects 3.2% Growth this Year, Seeks to Maintain Momentum

FILE PHOTO: Tourists relax on the waterfront in front of Victoria Harbour, with the iconic skyline buildings as a backdrop, in Hong Kong, China June 28, 2023. REUTERS/Tyrone Siu/File Photo
FILE PHOTO: Tourists relax on the waterfront in front of Victoria Harbour, with the iconic skyline buildings as a backdrop, in Hong Kong, China June 28, 2023. REUTERS/Tyrone Siu/File Photo
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Hong Kong Expects 3.2% Growth this Year, Seeks to Maintain Momentum

FILE PHOTO: Tourists relax on the waterfront in front of Victoria Harbour, with the iconic skyline buildings as a backdrop, in Hong Kong, China June 28, 2023. REUTERS/Tyrone Siu/File Photo
FILE PHOTO: Tourists relax on the waterfront in front of Victoria Harbour, with the iconic skyline buildings as a backdrop, in Hong Kong, China June 28, 2023. REUTERS/Tyrone Siu/File Photo

Hong Kong Financial Secretary Paul Chan raised his 2025 economic growth forecast to 3.2% on Sunday, saying the city would bolster its role as a financial center, innovation hub and trade center to maintain the momentum.

In February, Chan had forecast growth of between 2% and 3%.

Hong Kong, the world's biggest venue for initial public offerings this year, will lure more listings from companies in areas such as Southeast Asia and the Middle East and will actively promote internationalization ⁠of China's yuan currency, Chan said in a blog post.

The city will also focus on developing artificial intelligence and biotech to lead the global race in technology and will strengthen its role as a trade hub by helping more Chinese companies expand overseas, Reuters quoted him as saying.

"Looking into ⁠next year, Hong Kong's economy is expected to keep the good trend of growth," Chan said. "Finance, tech innovation and trade will be Hong Kong's key engines of growth as the city actively embraces China's development strategy."

Hong Kong has one of the world's best-performing stock markets this year, with the Hang Seng Index up 30%.

Resilient exports, brisk fixed-asset investment and recovering consumption have helped Hong Kong's growth beat forecast, Chan said.

To ⁠bolster its status as a financial center, Hong Kong will strengthen the competitiveness of its stock market and develop areas including bonds, money market, fintech, commodities and gold trading, he said.

In terms of innovation, Hong Kong will develop AI into a "core industry,” as the technology will define economies' competitiveness and reshape the global economic landscape, he said.

The city is also establishing a center for cross-border supply chain management and trade finance, to better help Chinese companies expand offshore, Chan said.