The first Dubai World Cup, founded by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, took place in 1996 and quickly cemented its place as one of the biggest events on the global horse-racing calendar.
The event took place at Nad Al Sheba Racecourse, where US jockey Jerry Bailey and his horse Cigar won the race, which was worth $4 million. Sheikh Maktoum bin Rashid, who at the time was Vice President and Ruler of Dubai, awarded the trophy.
"That moment on Cigar may well be the best moment in my life," Bailey later told The National.
In 2010, the race moved to the new Meydan Racecourse, which is the world's largest integrated racing facility, with a grandstand seating capacity of more than 60,000.
On Saturday, the race will take place for the 26th time. The meeting will feature 131 horses from 13 countries, including 78 top-calibre horses from outside the UAE, which will compete with 53 Emirati horses that are among the strongest in the country, including from the Godolphin stables.
It is still one of the richest days of horse racing in the world, with a total prize fund of $30.5 million. The final race of the cup, sponsored by Emirates airline, has a prize of $12 million and is expected to produce fierce competition, especially with the participation of the best American horses, which will compete with each other and against carefully prepared local horses over the 2,000-metre stretch.
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
SPECS
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More from Rashmee Roshan Lall
Match info
Liverpool 4
Salah (19'), Mane (45 2', 53'), Sturridge (87')
West Ham United 0
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Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
UAE currency: the story behind the money in your pockets
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UAE currency: the story behind the money in your pockets
