Eurogroup President Mario Centeno, centre, shakes hands with German Finance Minister Olaf Scholz, right, next to European Central Bank President Christine Lagarde, left, Cyprus' Economy Minister Constantinos Petrides, second left, and European Commissioner for Economy Paolo Gentiloni, second right, during a meeting of European Union Finance Ministers in Eurogroup format at the Europa building in Brussels. AP Photo
Eurogroup President Mario Centeno, centre, shakes hands with German Finance Minister Olaf Scholz, right, next to European Central Bank President Christine Lagarde, left, Cyprus' Economy Minister Constantinos Petrides, second left, and European Commissioner for Economy Paolo Gentiloni, second right, during a meeting of European Union Finance Ministers in Eurogroup format at the Europa building in Brussels. AP Photo
Eurogroup President Mario Centeno, centre, shakes hands with German Finance Minister Olaf Scholz, right, next to European Central Bank President Christine Lagarde, left, Cyprus' Economy Minister Constantinos Petrides, second left, and European Commissioner for Economy Paolo Gentiloni, second right, during a meeting of European Union Finance Ministers in Eurogroup format at the Europa building in Brussels. AP Photo
Eurogroup President Mario Centeno, centre, shakes hands with German Finance Minister Olaf Scholz, right, next to European Central Bank President Christine Lagarde, left, Cyprus' Economy Minister Const

Mixed response to Europe's €540 billion Covid-19 bailout fund


  • English
  • Arabic

A €540 billion bailout fund agreed by the EU’s finance ministers in response to the Covid-19 crisis has received a mixed reaction from officials across the continent.

After several failed attempts, the Eurogroup of EU finance ministers on Thursday agreed an unprecedented economic package to support member states, companies and workers during the coronavirus pandemic.

Under the plan, the Luxembourg-based European Safety Mechanism will provide loans for states, the European Investment Bank will provide company loans and workers will be provided loans via SURE, the European Commission’s new financial instrument.

“This response contains bold and ambitious proposals that would have been unthinkable just a few weeks ago,” said Mario Centeno, the Portugal’s finance minister and Eurogroup chairman.

“What matters the most is that we rose to the challenge – our citizens expect and deserve nothing else,” he said after the meeting.

“With this package we will help countries in need in the short term while also building resilient economies in the long-term. This is a powerful and sensible sign of European solidarity,” Dutch finance minister Wopke Hoekstra said.

His French counterpart Bruno Le Maire praised the agreement as the most important plan in economic history.

"Europe has decided and is ready to meet the gravity of the crisis," he tweeted after the talks.

Others were more critical of the bailout package.

Greek leader of the opposition Alexis Tsipras described it as “inferior to the circumstances”.

“The €540 billion to deal with the crisis is a package far short of the real need for immediate support for the European economy,” he said on Twitter.

“Yesterday, a great opportunity was lost for decisions that would pave the way in the hope of rebuilding the EU's cohesion, for a strong shield against the crisis. The decision leaves the window wide open for a new debt crisis in the Eurozone.”

Italy’s eurosceptic League party leader Matteo Salvini criticised the bailout deal, saying that the ECB was “the only European institution that works” as it has already guaranteed to buy another €200 billion of Italian bonds by the end of the year.

He said domestic bonds to help the economy recover from the pandemic would offer more tax advantages to Italians than EU bonds.

“I think that many Italians would be willing to bet on Italy, rather than waiting for the German or French multinational to arrive,” he added.

Marathon talks with Eurogroup ministers fell apart after a 16-hour conference call on Wednesday as Italy and Netherlands were at loggerheads over how to design loans for the ESM.

Roberto Gualtieri, Italy's finance minister, said that ESM loans should come with no guarantee from countries receiving the money to carry out economic reforms in the future. But the Dutch finance minister, Mr Hoekstra, disagreed, and urged for tougher conditions to be attached to credit lines.

Italy has also been supportive of so-called “corona bonds” – shared debt that all EU nations would have to pay off. The Netherlands led opposition to the idea.

The coronavirus has infected more 1.6 million people globally and killed over 96,000. Around 361,000 people are known to have recovered.

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Company%20profile
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About Karol Nawrocki

• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.

• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.

• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.

• Met Donald Trump at the White House and received his backing.

COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets

Ready Player One
Dir: Steven Spielberg
Starring: Tye Sheridan, Olivia Cooke, Ben Mendelsohn, Mark Rylance

Dunki
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rajkumar%20Hirani%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Shah%20Rukh%20Khan%2C%20Taapsee%20Pannu%2C%20Vikram%20Kochhar%20and%20Anil%20Grover%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
FIXTURES

All games 6pm UAE on Sunday: 
Arsenal v Watford
Burnley v Brighton
Chelsea v Wolves
Crystal Palace v Tottenham
Everton v Bournemouth
Leicester v Man United
Man City v Norwich
Newcastle v Liverpool
Southampton v Sheffield United
West Ham v Aston Villa

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

Company%C2%A0profile
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Indoor cricket in a nutshell

Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

THREE
%3Cp%3EDirector%3A%20Nayla%20Al%20Khaja%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Jefferson%20Hall%2C%20Faten%20Ahmed%2C%20Noura%20Alabed%2C%20Saud%20Alzarooni%3C%2Fp%3E%0A%3Cp%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
Last-16

France 4
Griezmann (13' pen), Pavard (57'), Mbappe (64', 68')

Argentina 3
Di Maria (41'), Mercado (48'), Aguero (90 3')

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Remaining fixtures
  • August 29 – UAE v Saudi Arabia, Hazza bin Zayed Stadium, Al Ain
  • September 5 – Iraq v UAE, Amman, Jordan (venue TBC)
PROVISIONAL FIXTURE LIST

Premier League

Wednesday, June 17 (Kick-offs uae times) Aston Villa v Sheffield United 9pm; Manchester City v Arsenal 11pm 

Friday, June 19 Norwich v Southampton 9pm; Tottenham v Manchester United 11pm  

Saturday, June 20 Watford v Leicester 3.30pm; Brighton v Arsenal 6pm; West Ham v Wolves 8.30pm; Bournemouth v Crystal Palace 10.45pm 

Sunday, June 21 Newcastle v Sheffield United 2pm; Aston Villa v Chelsea 7.30pm; Everton v Liverpool 10pm 

Monday, June 22 Manchester City v Burnley 11pm (Sky)

Tuesday, June 23 Southampton v Arsenal 9pm; Tottenham v West Ham 11.15pm 

Wednesday, June 24 Manchester United v Sheffield United 9pm; Newcastle v Aston Villa 9pm; Norwich v Everton 9pm; Liverpool v Crystal Palace 11.15pm

Thursday, June 25 Burnley v Watford 9pm; Leicester v Brighton 9pm; Chelsea v Manchester City 11.15pm; Wolves v Bournemouth 11.15pm

Sunday June 28 Aston Villa vs Wolves 3pm; Watford vs Southampton 7.30pm 

Monday June 29 Crystal Palace vs Burnley 11pm

Tuesday June 30 Brighton vs Manchester United 9pm; Sheffield United vs Tottenham 11.15pm 

Wednesday July 1 Bournemouth vs Newcastle 9pm; Everton vs Leicester 9pm; West Ham vs Chelsea 11.15pm

Thursday July 2 Arsenal vs Norwich 9pm; Manchester City vs Liverpool 11.15pm

 

Biography

Favourite Meal: Chicken Caesar salad

Hobbies: Travelling, going to the gym

Inspiration: Father, who was a captain in the UAE army

Favourite read: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter

Favourite film: The Founder, about the establishment of McDonald's

Company%20Profile
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UAE central contracts

Full time contracts

Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid

Part time contracts

Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma

England-South Africa Test series

1st Test England win by 211 runs at Lord's, London

2nd Test South Africa win by 340 runs at Trent Bridge, Nottingham

3rd Test July 27-31 at The Oval, London

4th Test August 4-8 at Old Trafford, Manchester

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

SPEC%20SHEET
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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
A general guide to how active you are:

Less than 5,000 steps - sedentary

5,000 - 9,999 steps - lightly active

10,000  - 12,500 steps - active

12,500 - highly active

About Krews

Founder: Ahmed Al Qubaisi

Based: Abu Dhabi

Founded: January 2019

Number of employees: 10

Sector: Technology/Social media 

Funding to date: Estimated $300,000 from Hub71 in-kind support

 

Best Academy: Ajax and Benfica

Best Agent: Jorge Mendes

Best Club : Liverpool   

 Best Coach: Jurgen Klopp (Liverpool)  

 Best Goalkeeper: Alisson Becker

 Best Men’s Player: Cristiano Ronaldo

 Best Partnership of the Year Award by SportBusiness: Manchester City and SAP

 Best Referee: Stephanie Frappart

Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)

Best Sporting Director: Andrea Berta (Atletico Madrid)

Best Women's Player:  Lucy Bronze

Best Young Arab Player: Achraf Hakimi

 Kooora – Best Arab Club: Al Hilal (Saudi Arabia)

 Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)

 Player Career Award: Miralem Pjanic and Ryan Giggs

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
BIRD%20BOX%20BARCELONA
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20David%20and%20Alex%20Pastor%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EGeorgina%20Campbell%2C%20Mario%20Casas%2C%20Diego%20Calva%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5