Businesses in the capital are gearing up for a weekend of roaring trade as tens of thousands of visitors descend on Abu Dhabi for the Formula One Grand Prix.
Style Gallery, a jewellery store at Emirates Palace, has commissioned Amorelli in Lebanon to make a 22-carat gold-plated, diamond-encrusted miniature F1 car to sell at its shop in the hotel. A bejewelled model automobile has become an annual Abu Dhabi F1 tradition. This is the third.
"Every year is different. Last year we made one with rubies," said Ahmed Abou El Anin, a sales assistant at Style Gallery.
With a price tag of Dh175,000 (US$47,645), this year's model sports black diamonds on the wheels and a strip of white diamonds running along the chassis.
Ordered three months ago, it arrived on Tuesday and is on display alongside a gold-plated and rock crystal ship, a diamond-encrusted horse and a replica of the Sheikh Zayed Mosque.
The shop reported a 30 per cent rise in sales during the F1 weekend last year and is expecting the same again this month.
"Every year, we expect more sales because there are so many customers, so many guests come from all over the world," said Mr El Anin. "[The spending] is different from client to client. Prices start from $800 up to $100,000. The palace has been full since yesterday. [But customers even come] from other hotels. Everyone likes Emirates Palace."
Over on Yas Island, where the race is taking place, hotels are bursting at the seams. InterContinental Hotels Group (IHG) has two properties there, Crowne Plaza Yas Island and Staybridge Suites.
"Yas Island is increasingly popular throughout the year with a number of new attractions for guests, but Formula One is certainly when activity hits a peak," said Ignace Bauwens, IHG's vice president of operations for Near East and Africa.
"Both the hotels will benefit from the hub of activity that Yas Island becomes, with revenue generated by external guests as well as those staying at the hotels."
Small business owners such as Fathiya Ahmed, who owns Heritage for Henna, are also banking on the F1 weekend to boost sales.
This weekend, Ms Ahmed expects to double the number of customers who normally visit her kiosk at the entrance of Ferrari World on Yas Island.
"During F1, I see 30 to 50 people at my kiosk," says Ms Ahmed, who started Heritage for Henna in 2003. On quieter days, she says 11 to 20 people line up to get their hands decorated with henna.
Ms Ahmed has also created a special offer to celebrate the F1 weekend and will be giving her Ferrari World customers one session free for two sessions bought.
Other businesses, including airlines and phone companies, are promoting their brands by linking their products to the F1 extravaganza.
Etihad Airways, the title sponsor of the race, will make a low fly pass just minutes before the chequered flag starts the drivers' engines roaring.
One of the airline's A340s will be painted in F1 livery and the Etihad brand will be plastered all over the race track for the three days.
"You will see the Etihad branding prominently," said Peter Baumgartner, the chief commercial officer at the airline. "Every corner, every camera angle, everything that's broadcast for the race."
The airline will also have retail stands around the racetrack selling F1 and Etihad-branded merchandise, and will entertain 350 guests in the paddock.
The mobile phone company du announced it would continue its partnership with the Red Bull Racing team, which will participate in the event.
Osman Sultan, du's chief executive, said: "F1 is a major sporting event and it is something the telecoms sector considers because it is a good opportunity to have lots of visitors and exposure to brands. We can interact with customers on a daily basis and have our brand exposed."
But at Abu Dhabi's Madinat Zayed Gold Souk, retailers said they were not putting on any promotions to coincide with the F1.
Muhammad Amin who works at his family's business, Al Safin Jewellery, said he expected a slight increase in customers visiting his shop in the evenings after the day's racing had finished.
"The people come mostly from Europe," said Mr Amin. "They buy small diamonds and 18-carat jewellery. We never thought to do any promotions linked to the F1. But now you have given me the idea, maybe in the future we will."
* Additional reporting by Sananda Sahoo, David Black, Triska Hamid, Rory Jones and Gillian Duncan
lgutcher@thenational.ae
Killing of Qassem Suleimani
The specs: 2018 Bentley Bentayga V8
Price, base: Dh853,226
Engine: 4.0-litre twin-turbo V8
Transmission: Eight-speed automatic
Power: 550hp @ 6,000pm
Torque: 770Nm @ 1,960rpm
Fuel economy, combined: 11.4L / 100km
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
EXPATS
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COMPANY%20PROFILE
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Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
The%20Emperor%20and%20the%20Elephant
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Results
%3Cp%3E%3Cstrong%3EStage%202%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Soudal%E2%80%93Quick-Step%20-%2018%E2%80%9911%E2%80%9D%3Cbr%3E2.%20EF%20Education%20%E2%80%93%20EasyPost%20-%201%22%3Cbr%3E3.%20Ineos%20Grenadiers%20-%203%22%3Cbr%3E%3Cstrong%3EGeneral%20classification%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Lucas%20Plapp%20(AUS)%20Ineos%20Grenadiers%3Cbr%3E2.%20Remco%20Evenepoel%20(BEL)%20Soudal%E2%80%93Quick-Step%20-%20ST%3Cbr%3E3.%20Nikias%20Arndt%20(GER)%20Bahrain%20Victorious%20-%203%22%3C%2Fp%3E%0A
SCHEDULE FOR SHOW COURTS
Centre Court - from 4pm (UAE time)
Angelique Kerber (1) v Irina Falconi
Martin Klizan v Novak Djokovic (2)
Alexandr Dolgopolov v Roger Federer (3)
Court One - from 4pm
Milos Raonic (6) v Jan-Lennard Struff
Karolina Pliskova (3) v Evgeniya Rodina
Dominic Thiem (8) v Vasek Pospisil
Court Two - from 2.30pm
Juan Martin Del Potro (29) v Thanasi Kokkinakis
Agnieszka Radwanska (9) v Jelena Jankovic
Jeremy Chardy v Tomas Berdych (11)
Ons Jabeur v Svetlana Kuznetsova (7)
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
