A board showing the rouble's exchange rate against the US dollar. The Russian currency has tanked under a wave of US and EU economic sanctions. Reuters
A board showing the rouble's exchange rate against the US dollar. The Russian currency has tanked under a wave of US and EU economic sanctions. Reuters
A board showing the rouble's exchange rate against the US dollar. The Russian currency has tanked under a wave of US and EU economic sanctions. Reuters
A board showing the rouble's exchange rate against the US dollar. The Russian currency has tanked under a wave of US and EU economic sanctions. Reuters

Business

Economy

Moody's places ratings of 51 Russian companies on review for downgrade as war escalates

Rating action reflects the negative implications for Russia's credit profile as sanctions are imposed, rating agency says

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Moody's Investors Service placed the ratings of 51 Russian non-financial corporates on review for downgrade as the country's economy reels under sanctions amid Moscow's intensifying military offensive in Ukraine.

The baseline credit assessments of government-related issuers are also under review for downgrades, Moody’s said in a statement on Wednesday. The rating agency warned last month that a Russian military incursion into Ukraine would probably result in sovereign ratings of both nations being placed on a review for a downgrade.

“The placement of Russia's sovereign ratings on review for downgrade was triggered by Russia's further military operation in Ukraine,” Moody’s said.

The move “reflects the negative credit implications for Russia's credit profile from the additional and more severe sanctions being imposed”, the ratings agency said.

Russia’s economy has taken a hit after the US and its allies took punitive actions against Moscow following its decision to undertake a military operation in Ukraine. Russian companies and oligarchs in President Vladimir Putin's inner circle face having their assets frozen, while European countries also close their airspace to Russian private and commercial aircraft.

Some Russian banks have also been barred from the Swift global financial network, while the US Treasury prohibited Americans from engaging in transactions with the Bank of Russia, the Russian Direct Investment Fund and the country's Ministry of Finance.

Damage after the shelling of buildings in central Kharkiv, Ukraine. EPA
Damage after the shelling of buildings in central Kharkiv, Ukraine. EPA
Workers from a local construction company weld anti-tank obstacles to be placed on roads around Kyiv as Russia's invasion of Ukraine continues. Reuters
Workers from a local construction company weld anti-tank obstacles to be placed on roads around Kyiv as Russia's invasion of Ukraine continues. Reuters
Anti-war protesters attach sunflowers to barriers in front of the Russian embassy. Reuters
Anti-war protesters attach sunflowers to barriers in front of the Russian embassy. Reuters
Ukrainian volunteers prepare food for displaced people outside Lviv railway station in western Ukraine. AP
Ukrainian volunteers prepare food for displaced people outside Lviv railway station in western Ukraine. AP
A Ukrainian soldier holds an anti-tank launcher north-east of Kyiv. AFP
A Ukrainian soldier holds an anti-tank launcher north-east of Kyiv. AFP
Ukrainian refugees rest at Warsaw East train station in Poland. EPA
Ukrainian refugees rest at Warsaw East train station in Poland. EPA
Children look out from a carriage window as a train prepares to depart from a station in Lviv to the town of Uzhhorod near the border with Slovakia. AFP
Children look out from a carriage window as a train prepares to depart from a station in Lviv to the town of Uzhhorod near the border with Slovakia. AFP
A girl who fled Ukraine is reunited with her father in Medyka, south-eastern Poland. AP Photo
A girl who fled Ukraine is reunited with her father in Medyka, south-eastern Poland. AP Photo
Tears outside a house damaged by a Russian airstrike in Gorenka, on the outskirts of Kyiv. AP Photo
Tears outside a house damaged by a Russian airstrike in Gorenka, on the outskirts of Kyiv. AP Photo
A civil defence member is poised to shoot as a vehicle approaches a checkpoint in Gorenka. AP Photo
A civil defence member is poised to shoot as a vehicle approaches a checkpoint in Gorenka. AP Photo
A Ukrainian civil defence member in the garden of a house damaged by a Russian airstrike. AP Photo
A Ukrainian civil defence member in the garden of a house damaged by a Russian airstrike. AP Photo
Members of the US Army 3rd Infantry Division board a plane bound for Germany in Savannah, Georgia. EPA
Members of the US Army 3rd Infantry Division board a plane bound for Germany in Savannah, Georgia. EPA
Prayers for peace in Ukraine at the Vatican's Saint Peter's Square. AFP
Prayers for peace in Ukraine at the Vatican's Saint Peter's Square. AFP
A woman (right) hugs an arriving passenger from a train carrying refugees at Berlin's central station. EPA
A woman (right) hugs an arriving passenger from a train carrying refugees at Berlin's central station. EPA
Firefighters battle a blaze in a Kharkiv police building hit by shelling. AFP
Firefighters battle a blaze in a Kharkiv police building hit by shelling. AFP
A Ukrainian woman makes a phone call after crossing the Slovakian border. AFP
A Ukrainian woman makes a phone call after crossing the Slovakian border. AFP
A doctor takes shelter in the basement of a Kyiv perinatal centre. Reuters
A doctor takes shelter in the basement of a Kyiv perinatal centre. Reuters
Debris which locals say was caused by shelling in separatist-controlled Horlivka, Donetsk. Reuters
Debris which locals say was caused by shelling in separatist-controlled Horlivka, Donetsk. Reuters
MPs in London give a standing ovation to Ukraine ambassador Vadym Prystaiko, who was in the public gallery. AP
MPs in London give a standing ovation to Ukraine ambassador Vadym Prystaiko, who was in the public gallery. AP
Distraught women and children fleeing Ukraine wait to enter Poland at the Korczowa crossing. Getty
Distraught women and children fleeing Ukraine wait to enter Poland at the Korczowa crossing. Getty
Newborn Ivan lies next to his mother as they shelter in the basement of a Kyiv perinatal centre. Reuters
Newborn Ivan lies next to his mother as they shelter in the basement of a Kyiv perinatal centre. Reuters
Firefighters hand water to people in a Ukrainian train full of refugees in Przemysl, Poland. Reuters
Firefighters hand water to people in a Ukrainian train full of refugees in Przemysl, Poland. Reuters
Ukrainian refugees queue to file for residency permits at Prague's police headquarters. AFP
Ukrainian refugees queue to file for residency permits at Prague's police headquarters. AFP
Firefighters work to contain a blaze in buildings housing the Kharkiv regional police department. AFP
Firefighters work to contain a blaze in buildings housing the Kharkiv regional police department. AFP
A woman and her children sit in a tent in the Kyiv subway, using it as a bomb shelter. AP
A woman and her children sit in a tent in the Kyiv subway, using it as a bomb shelter. AP
Firefighters work to extinguish a blaze at the Kharkiv National University building, which city officials said was damaged by Russian shelling. Reuters
Firefighters work to extinguish a blaze at the Kharkiv National University building, which city officials said was damaged by Russian shelling. Reuters
An elderly woman comforts a child as they take shelter inside an underground station in Kyiv. Reuters
An elderly woman comforts a child as they take shelter inside an underground station in Kyiv. Reuters
People queue at a pharmacy in central Kyiv. Reuters
People queue at a pharmacy in central Kyiv. Reuters
A woman is consoled by a volunteer after fleeing from Russia's invasion of Ukraine, at the border crossing in Siret, Romania. Reuters
A woman is consoled by a volunteer after fleeing from Russia's invasion of Ukraine, at the border crossing in Siret, Romania. Reuters
A Ukrainian civilian in the city of Zhytomyr practises throwing petrol bombs. Reuters
A Ukrainian civilian in the city of Zhytomyr practises throwing petrol bombs. Reuters
Ukrainian President Volodymyr Zelenskyy poses after an interview with Reuters in Kyiv. Reuters
Ukrainian President Volodymyr Zelenskyy poses after an interview with Reuters in Kyiv. Reuters
A blast is seen at Kyiv's TV tower. Reuters
A blast is seen at Kyiv's TV tower. Reuters
A girl in Siret, Romania, covers herself with a blanket after fleeing from Ukraine. Reuters
A girl in Siret, Romania, covers herself with a blanket after fleeing from Ukraine. Reuters
Ukraine's ambassador to the US, Oksana Markarova, acknowledges applause from US first lady Jill Biden as they attend President Joe Biden's first State of the Union address in Washington. AFP
Ukraine's ambassador to the US, Oksana Markarova, acknowledges applause from US first lady Jill Biden as they attend President Joe Biden's first State of the Union address in Washington. AFP
A man walks past the remains of Russian military vehicles in Bucha, close to Kyiv. AFP
A man walks past the remains of Russian military vehicles in Bucha, close to Kyiv. AFP
Civilians cross a river on a blown-up bridge on Kyiv's northern front. Defending the capital is a 'key priority', Ukraine's president has said. AFP
Civilians cross a river on a blown-up bridge on Kyiv's northern front. Defending the capital is a 'key priority', Ukraine's president has said. AFP
Russian aircraft on the ground at Luninets Airbase, Belarus, about 50 kilometres north of the Ukrainian border. AFP
Russian aircraft on the ground at Luninets Airbase, Belarus, about 50 kilometres north of the Ukrainian border. AFP
People look at the gutted remains of Russian military vehicles on a road in the town of Bucha. AP
People look at the gutted remains of Russian military vehicles on a road in the town of Bucha. AP
A woman with a child who fled from the war in Ukraine reunite with their family after crossing the border in Medyka, Poland. AP
A woman with a child who fled from the war in Ukraine reunite with their family after crossing the border in Medyka, Poland. AP
Animal keeper Kirilo Trantin comforts an elephant at Kyiv Zoo. AP
Animal keeper Kirilo Trantin comforts an elephant at Kyiv Zoo. AP
An armed man stands by the remains of a Russian military vehicle in Bucha. AP
An armed man stands by the remains of a Russian military vehicle in Bucha. AP
Ukrainian families say goodbye as they prepare to board a bus to Poland at Lviv, western Ukraine. AP
Ukrainian families say goodbye as they prepare to board a bus to Poland at Lviv, western Ukraine. AP
Paramedics move a man who was wounded by shelling in a residential area of Mariupol, south-eastern Ukraine. AP
Paramedics move a man who was wounded by shelling in a residential area of Mariupol, south-eastern Ukraine. AP
Rescuers work at the site of a Russian strike in Zhytomyr. Reuters
Rescuers work at the site of a Russian strike in Zhytomyr. Reuters
US actor and director Sean Penn attends a press briefing at the Presidential Office in Kyiv. Reuters
US actor and director Sean Penn attends a press briefing at the Presidential Office in Kyiv. Reuters
Demonstrators participate in a protest against Russia’s invasion of Ukraine at Lafayette Square in Washington. AFP
Demonstrators participate in a protest against Russia’s invasion of Ukraine at Lafayette Square in Washington. AFP
Ukrainian soldiers rest while others eat near the front line with Russian troops in northern Kyiv. AP
Ukrainian soldiers rest while others eat near the front line with Russian troops in northern Kyiv. AP
A barricade made of trams, buses and sand bags is seen through the window of car in the northern part of Kyiv. AP
A barricade made of trams, buses and sand bags is seen through the window of car in the northern part of Kyiv. AP
Members of the European Parliament applaud after Ukrainian President Volodymyr Zelenskyy's speech at a special session to debate its response to the Russian invasion of Ukraine. Reuters
Members of the European Parliament applaud after Ukrainian President Volodymyr Zelenskyy's speech at a special session to debate its response to the Russian invasion of Ukraine. Reuters
Ambassadors and diplomats walk out as Russia's Foreign Minister Sergey Lavrov (on screen) speaks during a recorded message at the 49th session of the UN Human Rights Council in Geneva. EPA
Ambassadors and diplomats walk out as Russia's Foreign Minister Sergey Lavrov (on screen) speaks during a recorded message at the 49th session of the UN Human Rights Council in Geneva. EPA

On Wednesday, Russian lender Sberbank said it is exiting European markets as a result of big cash outflows and threats to its staff and property.

"In the current environment, Sberbank has decided to withdraw from the European market. Subsidiary banks of the group are faced with an abnormal outflow of funds and a threat to the safety of employees and branches," the bank said.

The Russian rouble tanked as much as 28 per cent, falling to a record low of 118 against the US dollar at the start of trading on Monday, well above its 75 mark. The currency's freefall appeared to come to a halt on Tuesday but it fell again on Wednesday and was trading at 107.50 against the greenback at 3.31pm UAE time.

Russia’s central bank imposed capital controls on Monday and more than doubled interest rates to 20 per cent, their highest in nearly two decades, to support the currency. The Bank of Russia also restricted the transfer of coupon payments to foreign holders of rouble bonds and kept the Moscow stock exchange closed for a third day.

The list of major western companies turning their backs on Russia is also growing in the fall-out over the country's military offensive in Ukraine. Companies such as Apple and Google; energy majors Shell, ExxonMobil and BP; and car makers GM, Volvo and Volkswagen, as well as shipping giant Maersk, have already stopped business in Russia, which piles more pressure on its economy.

Read more

Oil rallies to seven-year high as Opec+ meet and IEA warns of energy security threat

From Apple to BP: major western companies exit Russia amid Ukraine crisis

Moody’s latest ratings move follows the sovereign rating action on Russia on February 25, when it placed the government’s Baa3 long-term issuer and senior unsecured rating on review for downgrade.

The rating agency said its actions on the affected corporates are a “direct consequence of the sovereign rating action”.

It reflects Moody's view that a potential downgrade of Russia's sovereign ratings and lowering of its country ceilings could lead to downgrades of the affected corporates' ratings, “because of their strong interlinkages with the sovereign rating”.

__________________________

From Apple to BP: major western companies exit Russia amid Ukraine crisis

Sony's game division and Nintendo said they have suspended shipments of software and hardware to Russia. Nintendo said it is suspending shipping all products to Russia "for the foreseeable future... due to considerable volatility surrounding the logistics of shipping and distributing physical goods." AFP
Sony's game division and Nintendo said they have suspended shipments of software and hardware to Russia. Nintendo said it is suspending shipping all products to Russia "for the foreseeable future... due to considerable volatility surrounding the logistics of shipping and distributing physical goods." AFP
Rio Tinto said it "is in the process of terminating all commercial relationships it has with any Russian business". It has an alumina joint venture with Moscow-based United Rusal International. Reuters
Rio Tinto said it "is in the process of terminating all commercial relationships it has with any Russian business". It has an alumina joint venture with Moscow-based United Rusal International. Reuters
McDonald's is temporarily closing all 847 of its restaurants in Russia. AFP
McDonald's is temporarily closing all 847 of its restaurants in Russia. AFP
Starbucks is suspending all business activity in Russia, including shipments of its products and cafes run by licencees. AFP
Starbucks is suspending all business activity in Russia, including shipments of its products and cafes run by licencees. AFP
Coca-Cola is suspending sales in Russia. Coca-Cola said its business in Russia and Ukraine contributed about 1 to 2 per cent of the company's net operating revenue in 2021. Reuters
Coca-Cola is suspending sales in Russia. Coca-Cola said its business in Russia and Ukraine contributed about 1 to 2 per cent of the company's net operating revenue in 2021. Reuters
PepsiCo is suspending sales of its sodas in Russia. It said it would continue to sell daily essentials, such as milk and other dairy offerings, baby formula and baby food, in Russia. Getty Images / AFP
PepsiCo is suspending sales of its sodas in Russia. It said it would continue to sell daily essentials, such as milk and other dairy offerings, baby formula and baby food, in Russia. Getty Images / AFP
Yum Brands, behind KFC and Pizza Hut, also said it was suspending investment in Russia. Reuters
Yum Brands, behind KFC and Pizza Hut, also said it was suspending investment in Russia. Reuters
Toyota is halting production at its plant in St Petersburg, and will halt vehicle shipments to Russia. Reuters
Toyota is halting production at its plant in St Petersburg, and will halt vehicle shipments to Russia. Reuters
Ikea said it would suspend its activities in Russia and Belarus, affecting nearly 15,000 employees, 17 stores and three production sites. AFP
Ikea said it would suspend its activities in Russia and Belarus, affecting nearly 15,000 employees, 17 stores and three production sites. AFP
Honda will stop exports of cars and motorcycles to Russia. EPA
Honda will stop exports of cars and motorcycles to Russia. EPA
Jaguar Land Rover has paused the delivery of its cars to Russia due to "trading challenges".
Jaguar Land Rover has paused the delivery of its cars to Russia due to "trading challenges".
Airbus is suspending sale of parts and support services to airline customers in Russia. Reuters
Airbus is suspending sale of parts and support services to airline customers in Russia. Reuters
Boeing has suspended major operations in Moscow and temporarily closed its office in Kyiv. It is also suspending parts, maintenance and technical support services for Russian airlines. Reuters
Boeing has suspended major operations in Moscow and temporarily closed its office in Kyiv. It is also suspending parts, maintenance and technical support services for Russian airlines. Reuters
Nike has made merchandise purchases on its website and app unavailable in Russia as it cannot guarantee delivery of goods to customers in the country, an update on the sportswear maker's website showed. Bloomberg
Nike has made merchandise purchases on its website and app unavailable in Russia as it cannot guarantee delivery of goods to customers in the country, an update on the sportswear maker's website showed. Bloomberg
German sportswear company Puma has stopped deliveries to Russia, but its 100 stores are open. Getty Images
German sportswear company Puma has stopped deliveries to Russia, but its 100 stores are open. Getty Images
Shell is to exit all its Russian operations, including a major liquefied natural gas plant. The company also plans to end its involvement in the Nord Stream II gas pipeline from Russia to Germany. PA
Shell is to exit all its Russian operations, including a major liquefied natural gas plant. The company also plans to end its involvement in the Nord Stream II gas pipeline from Russia to Germany. PA
BP is exiting its 19.75 per cent shareholding in Russian oil giant Rosneft after pressure from the UK government. BP has operated in Russia for more than 30 years. Reuters
BP is exiting its 19.75 per cent shareholding in Russian oil giant Rosneft after pressure from the UK government. BP has operated in Russia for more than 30 years. Reuters
ExxonMobil will cease operations in Russia and refrain from making new investments in the country. It holds a 30 per cent stake, alongside Rosneft, Japan's Sodeco and India's ONGC Videsh, in the Sakhalin Island oil and gas fields in Russia’s far east. Its business in the country is valued at more than $4 billion. AFP
ExxonMobil will cease operations in Russia and refrain from making new investments in the country. It holds a 30 per cent stake, alongside Rosneft, Japan's Sodeco and India's ONGC Videsh, in the Sakhalin Island oil and gas fields in Russia’s far east. Its business in the country is valued at more than $4 billion. AFP
Eni said it would withdraw from the Blue Stream gas pipeline linking Russia to Turkey, in which it has a 50 per cent stake. The company controls the gas pipeline -- which links the two countries via the Black Sea -- equally with Russian energy giant Gazprom. Reuters
Eni said it would withdraw from the Blue Stream gas pipeline linking Russia to Turkey, in which it has a 50 per cent stake. The company controls the gas pipeline -- which links the two countries via the Black Sea -- equally with Russian energy giant Gazprom. Reuters
British Gas owner Centrica has said it will exit gas supply agreements with its Russian counterparts, including Gazprom. Centrica said it currently has a medium-term contract with Gazprom Marketing and Trading, the Russian energy company's UK entity, through which gas can be sourced from the open market. Reuters
British Gas owner Centrica has said it will exit gas supply agreements with its Russian counterparts, including Gazprom. Centrica said it currently has a medium-term contract with Gazprom Marketing and Trading, the Russian energy company's UK entity, through which gas can be sourced from the open market. Reuters
Norwegian energy group Equinor said it will start the process of divesting from its joint ventures in Russia. Reuters
Norwegian energy group Equinor said it will start the process of divesting from its joint ventures in Russia. Reuters
HSBC said it was starting to wind down relations with a host of Russian banks including the second-largest, VTB, one of those targeted by sanctions, a memo seen by Reuters showed. AFP
HSBC said it was starting to wind down relations with a host of Russian banks including the second-largest, VTB, one of those targeted by sanctions, a memo seen by Reuters showed. AFP
Volkswagen suspended deliveries of cars to dealers in Russia. 'Deliveries are to resume as soon as the effects of the sanctions imposed by the European Union and the United States have been clarified', a VW representative said. AP
Volkswagen suspended deliveries of cars to dealers in Russia. 'Deliveries are to resume as soon as the effects of the sanctions imposed by the European Union and the United States have been clarified', a VW representative said. AP
Swedish automaker Volvo Cars said it would suspend car shipments to the Russian market until further notice, becoming the first international car maker to do so. Supplied
Swedish automaker Volvo Cars said it would suspend car shipments to the Russian market until further notice, becoming the first international car maker to do so. Supplied
GM said it would suspend all vehicle exports to Russia until further notice. The Detroit company does not have plants in Russia, only sells about 3,000 vehicles annually in the country and has limited supply-chain exposure. AFP
GM said it would suspend all vehicle exports to Russia until further notice. The Detroit company does not have plants in Russia, only sells about 3,000 vehicles annually in the country and has limited supply-chain exposure. AFP
Danish shipping giant Maersk said that it would stop taking new non-essential orders to and from Russia, owing to sanctions imposed over Moscow's invasion of Ukraine. AFP
Danish shipping giant Maersk said that it would stop taking new non-essential orders to and from Russia, owing to sanctions imposed over Moscow's invasion of Ukraine. AFP
Singapore-headquartered container shipping company Ocean Network Express has suspended bookings to and from Russia. Reuters
Singapore-headquartered container shipping company Ocean Network Express has suspended bookings to and from Russia. Reuters
AerCap Holdings, the world's biggest plane lessor with about 5 per cent of its fleet leased to Russian airlines, said it will stop trading with Russian customers. Reuters
AerCap Holdings, the world's biggest plane lessor with about 5 per cent of its fleet leased to Russian airlines, said it will stop trading with Russian customers. Reuters
US-based United Parcel Service said it is halting delivery services to Russia and Ukraine. Bloomberg
US-based United Parcel Service said it is halting delivery services to Russia and Ukraine. Bloomberg
FedEx also said it is temporarily suspending inbound and outbound services to Ukraine and inbound services to Russia until further notice. AP
FedEx also said it is temporarily suspending inbound and outbound services to Ukraine and inbound services to Russia until further notice. AP
Microsoft said it would remove Russian state-owned media outlet RT's mobile apps from its Windows App store and ban ads on Russian state-sponsored media. Reuters
Microsoft said it would remove Russian state-owned media outlet RT's mobile apps from its Windows App store and ban ads on Russian state-sponsored media. Reuters
Google has barred RT and other Russian channels from receiving money for ads on websites, apps and YouTube videos. Reuters
Google has barred RT and other Russian channels from receiving money for ads on websites, apps and YouTube videos. Reuters
German heavy-goods vehicle group Daimler Truck has said it will cease its co-operation with Russian lorry-maker Kamaz. AFP
German heavy-goods vehicle group Daimler Truck has said it will cease its co-operation with Russian lorry-maker Kamaz. AFP
Motorcycle maker Harley-Davidson has suspended shipments of its bikes to Russia. Pictured, Russian President Vladimir Putin. Reuters
Motorcycle maker Harley-Davidson has suspended shipments of its bikes to Russia. Pictured, Russian President Vladimir Putin. Reuters
Facebook owner Meta Platforms has restricted access to accounts run by Sputnik and RT in the EU. Reuters
Facebook owner Meta Platforms has restricted access to accounts run by Sputnik and RT in the EU. Reuters
Apple has paused all product sales and limited the functionality of other services in Russia. Reuters
Apple has paused all product sales and limited the functionality of other services in Russia. Reuters
Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea
Zidane's managerial achievements

La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
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Three trading apps to try

Sharad Nair recommends three investment apps for UAE residents:

  • For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
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  • Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
Key developments

All times UTC 4

How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

The specs
Engine: 4.0-litre flat-six
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Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
On Women's Day
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PREMIER LEAGUE FIXTURES

Saturday (UAE kick-off times)

Watford v Leicester City (3.30pm)

Brighton v Arsenal (6pm)

West Ham v Wolves (8.30pm)

Bournemouth v Crystal Palace (10.45pm)

Sunday

Newcastle United v Sheffield United (5pm)

Aston Villa v Chelsea (7.15pm)

Everton v Liverpool (10pm)

Monday

Manchester City v Burnley (11pm)

Results

Stage Two:

1. Mark Cavendish (GBR) QuickStep-AlphaVinyl 04:20:45

2. Jasper Philipsen (BEL) Alpecin-Fenix

3. Pascal Ackermann (GER) UAE Team Emirates

4. Olav Kooij (NED) Jumbo-Visma

5. Arnaud Demare (FRA) Groupama-FDJ

General Classification:

1. Jasper Philipsen (BEL) Alpecin-Fenix 09:03:03

2. Dmitry Strakhov (RUS) Gazprom-Rusvelo 00:00:04

3. Mark Cavendish (GBR) QuickStep-AlphaVinyl 00:00:06

4. Sam Bennett (IRL) Bora-Hansgrohe 00:00:10

5. Pascal Ackermann (GER) UAE Team Emirates 00:00:12

While you're here
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The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Results

5pm: Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Aahid Al Khalediah II, Pat Cosgrave (jockey), Helal Al Alawi (trainer)

5.30pm: Handicap (PA) Dh80,000 (T) 2,200m; Winner: Whistle, Harry Bentley, Abdallah Al Hammadi

6pm: Wathba Stallions Cup - Maiden (PA) Dh70,000 (T) 1,600m; Winner: Alsaied, Szczepan Mazur, Ibrahim Al Hadhrami

6.30pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Mumayaza, Antonio Fresu, Eric Lemartinel

7pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi

7.30pm: President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Richard Mullen, Jean de Roualle

8pm: President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Medahim, Richard Mullen, Satish Seemar

Habtoor interview
Turning%20waste%20into%20fuel
%3Cp%3EAverage%20amount%20of%20biofuel%20produced%20at%20DIC%20factory%20every%20month%3A%20%3Cstrong%3EApproximately%20106%2C000%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EAmount%20of%20biofuel%20produced%20from%201%20litre%20of%20used%20cooking%20oil%3A%20%3Cstrong%3E920ml%20(92%25)%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3ETime%20required%20for%20one%20full%20cycle%20of%20production%20from%20used%20cooking%20oil%20to%20biofuel%3A%20%3Cstrong%3EOne%20day%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EEnergy%20requirements%20for%20one%20cycle%20of%20production%20from%201%2C000%20litres%20of%20used%20cooking%20oil%3A%3Cbr%3E%3Cstrong%3E%E2%96%AA%20Electricity%20-%201.1904%20units%3Cbr%3E%E2%96%AA%20Water-%2031%20litres%3Cbr%3E%E2%96%AA%20Diesel%20%E2%80%93%2026.275%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A
MATCH INFO

Manchester City 2 (Mahrez 04', Ake 84')

Leicester City 5 (Vardy 37' pen, 54', 58' pen, Maddison 77', Tielemans 88' pen)

Man of the match: Jamie Vardy (Leicester City)

MATCH INFO

Delhi Daredevils 174-4 (20 ovs)
Mumbai Indians 163 (19.3 ovs)

Delhi won the match by 11 runs

MATCH INFO

Mainz 0

RB Leipzig 5 (Werner 11', 48', 75', Poulsen 23', Sabitzer 36')

Man of the Match: Timo Werner (RB Leipzig)

UAE currency: the story behind the money in your pockets
On Women's Day
UAE currency: the story behind the money in your pockets
WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Updated: March 02, 2022, 3:38 PM`
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