The passage through choppy economic waters may have seemed calmer during 16 months of national celebration that began with the wedding of Prince William and Kate Middleton in April last year and continued with Queen Elizabeth II's diamond jubilee in June before the Olympics climax. EPA
The passage through choppy economic waters may have seemed calmer during 16 months of national celebration that began with the wedding of Prince William and Kate Middleton in April last year and contiShow more

Back to grim reality for Britain now fun and Games are over



Bravo, said a French bank official as the Olympics came to an end.

Not among those compatriots equating British cycling medals with ingenious cheating, he was echoing a verdict delivered across the world.

From a stunning opening ceremony to the memorable close, the tournament was seen as a rip-roaring success for the host country.

But now the biggest of Britain's recent run of parties is over, there is spoilsport resignation to the sequel: a raging hangover as the country returns to the ugly realities of financial crisis and double-dip recession.

The passage through choppy economic waters may have seemed calmer during 16 months of national celebration that began with the wedding of Prince William and Kate Middleton in April last year and continued with Queen Elizabeth II's diamond jubilee in June before the Olympics climax.

With such distractions out of way, the voyage threatens renewed discomfort.

One early spanner has been thrown into the post-euphoria works. The insurance group Aviva surveyed 500 small and medium-sized companies and found one in five feared the benefits of the big events would be short-lived.

While small firms expected summer trade to be boosted by the Olympics and jubilee, there was concern it would be followed by a fall in revenue. Clearly, any boost from the royal wedding is a fading memory.

Levels of optimism varied according to region, with the most upbeat findings recorded in the Midlands, Yorkshire and the Northeast as well as, unsurprisingly, the capital. But only 6 per cent had found trading conditions easier than expected for the first six months of the year.

"Trading conditions clearly remain tough," says David Bruce, Aviva's commercial product manager. "It seems many owners are perhaps being more pragmatic than optimistic in their forecasting of future revenues."

As if to reinforce the message all is not well just because the Games gave the United Kingdom cause for collective pride, Aviva itself reported a net loss after tax of £681 million (Dh3.92 billion) in the first half of this year against a profit of £465m a year earlier.

Operating profits fell from £1.04bn to £935m.

London's mayor, Boris Johnson, talked up the durability of the feel-good factor when he spoke of securing a "transport, housing, infrastructure, sporting, cultural and social legacy" to turn the Games to gold for decades to come.

Not everyone sees much foundation for that. A columnist in the Daily Mail, which sees itself as a robust voice of England's middle classes, predicted a swift return in the news agenda to "tales of war, bogus celebrities and economic gloom".

On cue, the Bank of England cut its outlook for economic growth to zero for this year, the governor Sir Mervyn King warning poor performance would continue for at least three years because of the euro and broader world crises.

And there has already been dismay from corners of Britain that considered they helped to pay for the Olympics extravaganza, with its £9bn national budget and £2bn on top for the capital.

In live music, arts funding cuts, lottery profits diverted to the Olympics kitty and recession presented a "triple whammy" for ticket sales, frightening promoters and forcing many cancellations, according to Ian Anderson, the editor of the independent music magazine fRoots. "We hoped for some relief after the Games but now the prime minister David Cameron says they were such a success higher sports funding will be maintained for four years."

Mr Cameron may hope Olympics fervour halts the sharp decline in confidence in the coalition government he heads.

But with exports struggling, unemployment more likely to rise than fall over the long term (despite the fact the number of jobless was down for the quarter yesterday) and household budgets stretched, recovery looks distant.

Mr Cameron and Mr Johnson's hopes for a lasting fillip will be judged against Sir Mervyn's more sombre assessment: "The Games cannot alter the underlying economic situation we face."

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The biog

Name: Salem Alkarbi

Age: 32

Favourite Al Wasl player: Alexandre Oliveira

First started supporting Al Wasl: 7

Biggest rival: Al Nasr

What is Folia?

Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.

Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."

Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.

In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love". 

There are also plans to take Folia to several more locations throughout the Middle East and Europe.

While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."

Players Selected for La Liga Trials

U18 Age Group
Name: Ahmed Salam (Malaga)
Position: Right Wing
Nationality: Jordanian

Name: Yahia Iraqi (Malaga)
Position: Left Wing
Nationality: Morocco

Name: Mohammed Bouherrafa (Almeria)
Position: Centre-Midfield
Nationality: French

Name: Mohammed Rajeh (Cadiz)
Position: Striker
Nationality: Jordanian

U16 Age Group
Name: Mehdi Elkhamlichi (Malaga)
Position: Lead Striker
Nationality: Morocco

The Brutalist

Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

Rating: 3.5/5

 

 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying