NURBURGRING // A new commercial agreement to end the threat of a breakaway Formula One series could be ready within days, the governing body suggested today.
"At present it seems probable that a final draft of the 2009 Concorde Agreement will be agreed and ready for signature in the coming days," the International Automobile Federation (FIA) said in a statement headed "Setting the Record Straight".
The document was published after technical directors of the eight Formula One Teams Association (FOTA) members walked out of a meeting with the FIA at the German Grand Prix circuit on Wednesday after being told they could only be observers to proceedings.
The FIA had maintained that the five non-FOTA teams, including three complete newcomers due to enter next year, were the only ones fully confirmed for 2010 at present because the others had still to sign a new commercial agreement.
The walkout triggered fears that a deal agreed between FOTA and the FIA in Paris last month could fall apart, with FOTA warning in a statement on Wednesday that the sport's future was in jeopardy.
A new Concorde Agreement would bind all the teams to Formula One to at least the end of 2012.
The FIA statement said Max Mosley, president of the governing body, had twice written to Ferrari president Luca di Montezemolo to "remind him" that any amendments to the 2010 regulations had to be approved unanimously by non-FOTA teams.
"The entered teams have a contract with the FIA which not even the general assembly or world council can abrogate," the statement said.
"Anyone with an elementary knowledge of motorsport governance knows this. Imagine the uproar if, after the FOTA teams had entered, the world council were subsequently to change the rules without asking them."
The FIA said it was "quite simply untrue" to suggest that FOTA had been made aware only during the meeting that the agreement of the other five teams was necessary.
Despite the walkout from the technical working group in the afternoon, after a sporting working group meeting in the morning, the FIA said the five entered teams had confirmed changes agreed at the Paris meeting on June 24.
The governing body said FOTA had also agreed in Paris to extend the 1998 Concorde Agreement with some minor amendments regarding governance.
Instead, the FIA said it had received a new 350-page document on June 25. After extensive legal work on this, another version was then presented and further drafts circulated.
"Further significant progress was made yesterday evening in yet another conference call," the statement added.
The FIA revealed that the Williams team had been architects of a proposal, accepted by FOTA, to shelve a planned budget cap in favour of an agreement to reduce costs to the level of the early 1990s by the end of 2011.
"This would be a private, legally-enforceable contract involving all the teams, but not the FIA," it added.
*Reuters
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Warlight,
Michael Ondaatje, Knopf
MATCH INFO
Fixture: Thailand v UAE, Tuesday, 4pm (UAE)
TV: Abu Dhabi Sports
World%20Food%20Day%20
%3Cp%3ECelebrated%20on%20October%2016%2C%20to%20coincide%20with%20the%20founding%20date%20of%20the%20United%20Nations%20Food%20and%20Agriculture%20Organisation%2C%20World%20Food%20Day%20aims%20to%20tackle%20issues%20such%20as%20hunger%2C%20food%20security%2C%20food%20waste%20and%20the%20environmental%20impact%20of%20food%20production.%20%0D%3C%2Fp%3E%0A
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
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EDirect%20Debit%20System%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20Sept%202017%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20with%20a%20subsidiary%20in%20the%20UK%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Undisclosed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Elaine%20Jones%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
EU's%2020-point%20migration%20plan
%3Cp%3E1.%20Send%20EU%20border%20guards%20to%20Balkans%3C%2Fp%3E%0A%3Cp%3E2.%20%E2%82%AC40%20million%20for%20training%20and%20surveillance%3C%2Fp%3E%0A%3Cp%3E3.%20Review%20EU%20border%20protection%3C%2Fp%3E%0A%3Cp%3E4.%20Reward%20countries%20that%20fund%20Balkans%C2%A0%3C%2Fp%3E%0A%3Cp%3E5.%20Help%20Balkans%20improve%20asylum%20system%3C%2Fp%3E%0A%3Cp%3E6.%20Improve%20migrant%20reception%20facilities%C2%A0%3C%2Fp%3E%0A%3Cp%3E7.%20Close%20gaps%20in%20EU%20registration%20system%3C%2Fp%3E%0A%3Cp%3E8.%20Run%20pilots%20of%20faster%20asylum%20system%3C%2Fp%3E%0A%3Cp%3E9.%20Improve%20relocation%20of%20migrants%20within%20EU%3C%2Fp%3E%0A%3Cp%3E10.%20Bolster%20migration%20unit%20in%20Greece%3C%2Fp%3E%0A%3Cp%3E11.%20Tackle%20smuggling%20at%20Serbia%2FHungary%20border%3C%2Fp%3E%0A%3Cp%3E12.%20Implement%20%E2%82%AC30%20million%20anti-smuggling%20plan%3C%2Fp%3E%0A%3Cp%3E13.%20Sanctions%20on%20transport%20linked%20to%20smuggling%3C%2Fp%3E%0A%3Cp%3E14.%20Expand%20pilot%20deportation%20scheme%20in%20Bosnia%C2%A0%3C%2Fp%3E%0A%3Cp%3E15.%20Training%20for%20Balkans%20to%20deport%20migrants%3C%2Fp%3E%0A%3Cp%3E16.%20Joint%20task%20forces%20with%20Balkans%20and%20countries%20of%20origin%3C%2Fp%3E%0A%3Cp%3E17.%20Close%20loopholes%20in%20Balkan%20visa%20policy%C2%A0%3C%2Fp%3E%0A%3Cp%3E18.%20Monitor%20migration%20laws%20passed%20in%20Balkans%C2%A0%3C%2Fp%3E%0A%3Cp%3E19.%20Use%20visa-free%20travel%20as%20leverage%20over%20Balkans%C2%A0%3C%2Fp%3E%0A%3Cp%3E20.%20Joint%20EU%20messages%20to%20Balkans%20and%20countries%20of%20origin%3C%2Fp%3E%0A
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Non-oil%20trade
%3Cp%3ENon-oil%20trade%20between%20the%20UAE%20and%20Japan%20grew%20by%2034%20per%20cent%20over%20the%20past%20two%20years%2C%20according%20to%20data%20from%20the%20Federal%20Competitiveness%20and%20Statistics%20Centre.%C2%A0%3C%2Fp%3E%0A%3Cp%3EIn%2010%20years%2C%20it%20has%20reached%20a%20total%20of%20Dh524.4%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3ECars%20topped%20the%20list%20of%20the%20top%20five%20commodities%20re-exported%20to%20Japan%20in%202022%2C%20with%20a%20value%20of%20Dh1.3%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3EJewellery%20and%20ornaments%20amounted%20to%20Dh150%20million%20while%20precious%20metal%20scraps%20amounted%20to%20Dh105%20million.%C2%A0%3C%2Fp%3E%0A%3Cp%3ERaw%20aluminium%20was%20ranked%20first%20among%20the%20top%20five%20commodities%20exported%20to%20Japan.%C2%A0%3C%2Fp%3E%0A%3Cp%3ETop%20of%20the%20list%20of%20commodities%20imported%20from%20Japan%20in%202022%20was%20cars%2C%20with%20a%20value%20of%20Dh20.08%20billion.%3C%2Fp%3E%0A
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
RESULTS
Dubai Kahayla Classic – Group 1 (PA) $750,000 (Dirt) 2,000m
Winner: Deryan, Ioritz Mendizabal (jockey), Didier Guillemin (trainer).
Godolphin Mile – Group 2 (TB) $750,000 (D) 1,600m
Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar
Dubai Gold Cup – Group 2 (TB) $750,000 (Turf) 3,200m
Winner: Subjectivist, Joe Fanning, Mark Johnston
Al Quoz Sprint – Group 1 (TB) $1million (T) 1,200m
Winner: Extravagant Kid, Ryan Moore, Brendan Walsh
UAE Derby – Group 2 (TB) $750,000 (D) 1,900m
Winner: Rebel’s Romance, William Buick, Charlie Appleby
Dubai Golden Shaheen – Group 1 (TB) $1.5million (D) 1,200m
Winner: Zenden, Antonio Fresu, Carlos David
Dubai Turf – Group 1 (TB) $4million (T) 1,800m
Winner: Lord North, Frankie Dettori, John Gosden
Dubai Sheema Classic – Group 1 (TB) $5million (T) 2,410m
Winner: Mishriff, John Egan, John Gosden
ICC Awards for 2021
MEN
Cricketer of the Year – Shaheen Afridi (Pakistan)
T20 Cricketer of the Year – Mohammad Rizwan (Pakistan)
ODI Cricketer of the Year – Babar Azam (Pakistan)
Test Cricketer of the Year – Joe Root (England)
WOMEN
Cricketer of the Year – Smriti Mandhana (India)
ODI Cricketer of the Year – Lizelle Lee (South Africa)
T20 Cricketer of the Year – Tammy Beaumont (England)
KILLING OF QASSEM SULEIMANI
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
More from Neighbourhood Watch:
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)