Sterling shot up to $1.13 as markets anticipated that Britain's prime minister would step down. PA
Sterling shot up to $1.13 as markets anticipated that Britain's prime minister would step down. PA
Sterling shot up to $1.13 as markets anticipated that Britain's prime minister would step down. PA
Sterling shot up to $1.13 as markets anticipated that Britain's prime minister would step down. PA

World

UK

Pound sterling rallies as markets react to Liz Truss's resignation

Sterling could remain volatile, analysts warn, as currency finishes 0.45 per cent higher against the dollar on Thursday

Soraya Ebrahimi
Soraya Ebrahimi

October 20, 2022

  • English
  • Arabic

Financial markets reacted positively to the announcement that Britain's Prime Minister Liz Truss was stepping down after only six weeks in the job, as the pound rallied on Thursday.

Before her resignation speech, sterling shot up to $1.13 as markets anticipated that Ms Truss would step down, before shedding gains slightly to stand 0.45 per cent higher at $1.127 when markets closed.

Yields on UK government bonds ― gilts ― have also eased slightly in response to the prime minister’s decision.

READ MORE

Kwasi Kwarteng's failure was to ignore his own doctoral thesis

UK 30-year gilt yields, which fall as bond prices improve, fell back by 0.44 per cent to 3.86 per cent on Thursday.

By the end of the day, yields had edged back up slightly to 3.96 per cent.

Neil Wilson at markets.com said the pound’s “knee-jerk verdict was damning”, signalling that Ms Truss's move had been welcomed across the City.

He cautioned that sterling would remain volatile as traders digested what this meant for the UK government.

“But the initial reaction seemed very appropriate as the market has acted as judge, jury and executioner for the Truss regime," Mr Wilson said.

British Prime Minister Liz Truss resigns - in pictures

Liz Truss announces her resignation as UK Prime Minister outside 10 Downing Street in London. 'The National' looks at her brief time in power. PA
Liz Truss announces her resignation as UK Prime Minister outside 10 Downing Street in London. 'The National' looks at her brief time in power. PA
Chairman of the 1922 Committee Sir Graham Brady speaks to the media in London following Liz Truss's announcement of her resignation. Reuters
Chairman of the 1922 Committee Sir Graham Brady speaks to the media in London following Liz Truss's announcement of her resignation. Reuters
Liz Truss and her husband Hugh O'Leary walk back inside 10 Downing Street following her resignation statement. AFP
Liz Truss and her husband Hugh O'Leary walk back inside 10 Downing Street following her resignation statement. AFP
Liz Truss during Prime Minister's Questions in the House of Commons in London, addressing Parliament for the first time since abandoning her disastrous tax-slashing economic policies. AFP
Liz Truss during Prime Minister's Questions in the House of Commons in London, addressing Parliament for the first time since abandoning her disastrous tax-slashing economic policies. AFP
Liz Truss speaks to Grant Shapps at Downing Street as he is appointed Home Secretary, after the resignation of Suella Braverman. Photo: Simon Dawson / No 10 Downing Street
Liz Truss speaks to Grant Shapps at Downing Street as he is appointed Home Secretary, after the resignation of Suella Braverman. Photo: Simon Dawson / No 10 Downing Street
A mural by artist Ciaran Gallagher in Belfast is updated to reflect Liz Truss's current political troubles. PA
A mural by artist Ciaran Gallagher in Belfast is updated to reflect Liz Truss's current political troubles. PA
Britain's new Chancellor of the Exchequer Jeremy Hunt announcing tax and spending measures at the House of Commons in London, with Liz Truss sitting on the bench behind him. AFP
Britain's new Chancellor of the Exchequer Jeremy Hunt announcing tax and spending measures at the House of Commons in London, with Liz Truss sitting on the bench behind him. AFP
Liz Truss gives a speech after sacking Kwasi Kwarteng as chancellor of the exchequer. Reuters
Liz Truss gives a speech after sacking Kwasi Kwarteng as chancellor of the exchequer. Reuters
A protest by climate change group Extinction Rebellion in central London. Ms Truss has said the group is part of an 'anti-growth coalition' with trade unions and the main opposition Labour Party. AFP
A protest by climate change group Extinction Rebellion in central London. Ms Truss has said the group is part of an 'anti-growth coalition' with trade unions and the main opposition Labour Party. AFP
Ms Truss has come under increasing pressure during her short time as prime minister. AFP
Ms Truss has come under increasing pressure during her short time as prime minister. AFP
An Extinction Rebellion protest outside Downing Street on the day Mr Kwarteng was removed from the government. AP
An Extinction Rebellion protest outside Downing Street on the day Mr Kwarteng was removed from the government. AP
Ms Truss with members of the England women's football team and the European Championship trophy in Teddington, south-west London. Getty
Ms Truss with members of the England women's football team and the European Championship trophy in Teddington, south-west London. Getty
Ms Truss arrives for a meeting of the European Political Community at Prague Castle in the Czech Republic. AP
Ms Truss arrives for a meeting of the European Political Community at Prague Castle in the Czech Republic. AP
Ms Truss and her husband Hugh O'Leary wave after her keynote speech at the Conservative Party conference in Birmingham. AP
Ms Truss and her husband Hugh O'Leary wave after her keynote speech at the Conservative Party conference in Birmingham. AP
Liz Truss gives a speech at the Conservative Party Conference. EPA
Liz Truss gives a speech at the Conservative Party Conference. EPA
Ms Truss meets with Mr Kwarteng, chancellor of the exchequer at the time. Photo: Andrew Parsons / CCHQ
Ms Truss meets with Mr Kwarteng, chancellor of the exchequer at the time. Photo: Andrew Parsons / CCHQ
Ms Truss and Mr Kwarteng visit a construction site for a medical innovation campus in Birmingham. AFP
Ms Truss and Mr Kwarteng visit a construction site for a medical innovation campus in Birmingham. AFP
Ms Truss meets US President Joe Biden for talks at the UN headquarters in New York. PA
Ms Truss meets US President Joe Biden for talks at the UN headquarters in New York. PA
Ms Truss delivers a speech at the 77th session of the General Assembly at the UN headquarters in New York. AP
Ms Truss delivers a speech at the 77th session of the General Assembly at the UN headquarters in New York. AP
The British prime minister holds a bilateral meeting with Turkish President Recep Tayyip Erdogan in New York. Reuters
The British prime minister holds a bilateral meeting with Turkish President Recep Tayyip Erdogan in New York. Reuters
Ms Truss meets French President Emmanuel Macron at the UN headquarters in New York. Reuters
Ms Truss meets French President Emmanuel Macron at the UN headquarters in New York. Reuters
Ms Truss speaks to the media during her visit to the Empire State building in New York. AP
Ms Truss speaks to the media during her visit to the Empire State building in New York. AP
Britain's new leader speaks during the state funeral of Queen Elizabeth at Westminster Abbey, London. PA
Britain's new leader speaks during the state funeral of Queen Elizabeth at Westminster Abbey, London. PA
Ms Truss and her husband Hugh O'Leary observe a minute's silence at Number 10 Downing Street following the death of the queen. Reuters
Ms Truss and her husband Hugh O'Leary observe a minute's silence at Number 10 Downing Street following the death of the queen. Reuters
Britain's Labour Party leader Sir Keir Starmer and Ms Truss leave after a service for the reception of Queen Elizabeth's coffin at Westminster Hall in the Palace of Westminster. AFP
Britain's Labour Party leader Sir Keir Starmer and Ms Truss leave after a service for the reception of Queen Elizabeth's coffin at Westminster Hall in the Palace of Westminster. AFP
Ms Truss joins the Speaker Lindsay Hoyle and selected MPs to take the oath and swear allegiance to King Charles III in the House of Commons chamber. PA
Ms Truss joins the Speaker Lindsay Hoyle and selected MPs to take the oath and swear allegiance to King Charles III in the House of Commons chamber. PA
King Charles during his first audience with Ms Truss at Buckingham Palace, London, following the death of Queen Elizabeth. Getty Images
King Charles during his first audience with Ms Truss at Buckingham Palace, London, following the death of Queen Elizabeth. Getty Images
Ms Truss gives a reading during a service of prayer and reflection, following the passing of Queen Elizabeth, at St Paul's Cathedral in London. Getty Images
Ms Truss gives a reading during a service of prayer and reflection, following the passing of Queen Elizabeth, at St Paul's Cathedral in London. Getty Images
The British prime minister makes a statement outside 10 Downing Street in London following the queen's death. Bloomberg
The British prime minister makes a statement outside 10 Downing Street in London following the queen's death. Bloomberg
Ms Truss speaking during her first weekly Prime Minister's Questions session at the House of Commons in London. AFP
Ms Truss speaking during her first weekly Prime Minister's Questions session at the House of Commons in London. AFP
Front pages of a selection of British national newspapers, each leading with a story about Ms Truss becoming Britain's new prime minister. AFP
Front pages of a selection of British national newspapers, each leading with a story about Ms Truss becoming Britain's new prime minister. AFP
People walk past an image in central London of Ms Truss on the side of a protest bus calling for a citizens' assembly. Reuters
People walk past an image in central London of Ms Truss on the side of a protest bus calling for a citizens' assembly. Reuters
Ms Truss holds her first Cabinet meeting at 10 Downing Street. Reuters
Ms Truss holds her first Cabinet meeting at 10 Downing Street. Reuters
Ms Truss speaks at Downing Street on the day she took over as prime minister from Boris Johnson. EPA
Ms Truss speaks at Downing Street on the day she took over as prime minister from Boris Johnson. EPA
Ms Truss poses with her husband Hugh O'Leary at Downing Street before entering as prime minister for the first time. EPA
Ms Truss poses with her husband Hugh O'Leary at Downing Street before entering as prime minister for the first time. EPA
Ms Truss is welcomed by staff in Downing Street as she enters the famous prime ministerial offices for the first time. Andrew Parsons / No 10 Downing Street
Ms Truss is welcomed by staff in Downing Street as she enters the famous prime ministerial offices for the first time. Andrew Parsons / No 10 Downing Street
New Health Secretary Therese Coffey and Number 10 staff shelter from a downpour as they wait for Ms Truss to arrive in Downing Street. PA
New Health Secretary Therese Coffey and Number 10 staff shelter from a downpour as they wait for Ms Truss to arrive in Downing Street. PA
Liz Truss makes a speech outside 10 Downing Street, London, after meeting Queen Elizabeth II and accepting her invitation to become prime minister and form a new government. PA
Liz Truss makes a speech outside 10 Downing Street, London, after meeting Queen Elizabeth II and accepting her invitation to become prime minister and form a new government. PA
Queen Elizabeth II greets the newly elected leader of the Conservative Party, Ms Truss, at Balmoral Castle in Scotland. The queen invited Ms Truss to become prime minister and form a new government. Getty Images
Queen Elizabeth II greets the newly elected leader of the Conservative Party, Ms Truss, at Balmoral Castle in Scotland. The queen invited Ms Truss to become prime minister and form a new government. Getty Images

It comes after the pound has suffered a tumultuous two months sparked by the market turmoil seen in the wake of former chancellor Kwasi Kwarteng’s mini-budget – at one stage sterling slumped to its lowest ever level against the US dollar.

A sell-off in gilts sparked by the market chaos also threatened to trigger a mini financial crisis in the UK at one stage, leaving some pension funds at risk of collapse and forcing the Bank of England to step in with emergency action late last month.

The FTSE 100 Index stood 0.1 per cent lower at 6,919.6 as the pound’s rally weighed on blue chips, in particular major UK exporters.

But by the end of the day it had jumped back into the green and was up 0.27 per cent at 6,943.9.

Liz Truss through the years - in pictures

British Prime Minister Liz Truss announces her resignation, outside No 10 Downing Street, London. AP
British Prime Minister Liz Truss announces her resignation, outside No 10 Downing Street, London. AP
Liz Truss during Prime Minister's Questions in the House of Commons in London, addressing Parliament for the first time since abandoning her disastrous tax-slashing economic policies. AFP
Liz Truss during Prime Minister's Questions in the House of Commons in London, addressing Parliament for the first time since abandoning her disastrous tax-slashing economic policies. AFP
Liz Truss walks off stage after delivering her keynote speech at the Conservative Party annual conference at the International Convention Centre in Birmingham in October. PA
Liz Truss walks off stage after delivering her keynote speech at the Conservative Party annual conference at the International Convention Centre in Birmingham in October. PA
Liz Truss meets US President Joe Biden during the 77th session of the United Nations General Assembly in New York in September. AP
Liz Truss meets US President Joe Biden during the 77th session of the United Nations General Assembly in New York in September. AP
King Charles during his first audience in September with Ms Truss at Buckingham Palace, London, following the death of Queen Elizabeth. Getty Images
King Charles during his first audience in September with Ms Truss at Buckingham Palace, London, following the death of Queen Elizabeth. Getty Images
Labour leader Keir Starmer and Liz Truss pay their respects after the service and procession for the coffin of Queen Elizabeth II into Westminster Hall, London, in September. PA
Labour leader Keir Starmer and Liz Truss pay their respects after the service and procession for the coffin of Queen Elizabeth II into Westminster Hall, London, in September. PA
Ms Truss is welcomed by staff in Downing Street as she enters the famous prime ministerial offices for the first time in September. Photo: Andrew Parsons / No 10 Downing Street
Ms Truss is welcomed by staff in Downing Street as she enters the famous prime ministerial offices for the first time in September. Photo: Andrew Parsons / No 10 Downing Street
Queen Elizabeth II greets the newly elected leader of the Conservative Party, Ms Truss, at Balmoral Castle in Scotland in September. The queen invited Ms Truss to become prime minister and form a new government. Getty Images
Queen Elizabeth II greets the newly elected leader of the Conservative Party, Ms Truss, at Balmoral Castle in Scotland in September. The queen invited Ms Truss to become prime minister and form a new government. Getty Images
New Conservative Party leader and Britain's Prime Minister-elect Liz Truss delivers a speech after being announced the winner of the Tory Party leadership contest in central London on September 5, 2022. Ms Truss is the UK's third female prime minister following Theresa May and Margaret Thatcher. AFP
New Conservative Party leader and Britain's Prime Minister-elect Liz Truss delivers a speech after being announced the winner of the Tory Party leadership contest in central London on September 5, 2022. Ms Truss is the UK's third female prime minister following Theresa May and Margaret Thatcher. AFP
Liz Truss meets supporters as she arrives to attend a Conservative leadership election hustings at the NEC, Birmingham, in August. AP
Liz Truss meets supporters as she arrives to attend a Conservative leadership election hustings at the NEC, Birmingham, in August. AP
Rishi Sunak and Liz Truss take part in the BBC Leadership debate at Victoria Hall in Hanley in July. Getty Images
Rishi Sunak and Liz Truss take part in the BBC Leadership debate at Victoria Hall in Hanley in July. Getty Images
Liz Truss playing pool during a visit to the Onside Future Youth Zone in London in August 2022. PA
Liz Truss playing pool during a visit to the Onside Future Youth Zone in London in August 2022. PA
Boris Johnson and Ms Truss arriving for an extraordinary summit at Nato headquarters in Brussels, in March 2022. AFP
Boris Johnson and Ms Truss arriving for an extraordinary summit at Nato headquarters in Brussels, in March 2022. AFP
Russian Foreign Minister Sergey Lavrov and Ms Truss arrive for talks in Moscow in February 2022. AP
Russian Foreign Minister Sergey Lavrov and Ms Truss arrive for talks in Moscow in February 2022. AP
Ms Truss in Red Square during a visit to Moscow in February 2022. Photo: No. 10, Downing Street
Ms Truss in Red Square during a visit to Moscow in February 2022. Photo: No. 10, Downing Street
Ms Truss meeting European Commission vice-president Maros Sefcovic (not seen) for talks in central London on the Northern Ireland Protocol on 11th February 2022. PA
Ms Truss meeting European Commission vice-president Maros Sefcovic (not seen) for talks in central London on the Northern Ireland Protocol on 11th February 2022. PA
Ms Truss with Marise Payne, the Australian minister of foreign affairs, at Government House in Sydney, Australia, in January 2022. Photo: No. 10, Downing Street
Ms Truss with Marise Payne, the Australian minister of foreign affairs, at Government House in Sydney, Australia, in January 2022. Photo: No. 10, Downing Street
Liz Truss hosts Vice President of the European Commission Maros Sefcovic at Chevening House in January 2022 to discuss the Northern Ireland protocol. Photo: No. 10, Downing Street
Liz Truss hosts Vice President of the European Commission Maros Sefcovic at Chevening House in January 2022 to discuss the Northern Ireland protocol. Photo: No. 10, Downing Street
Ms Truss visits British troops in Estonia as they operate alongside other Nato troops in Tapa in November 2021. Photo: No. 10, Downing Street
Ms Truss visits British troops in Estonia as they operate alongside other Nato troops in Tapa in November 2021. Photo: No. 10, Downing Street
Liz Truss walks through the old town in Tallinn, Estonia, in November 2021. Photo: No. 10, Downing Street
Liz Truss walks through the old town in Tallinn, Estonia, in November 2021. Photo: No. 10, Downing Street
Ms Truss greeting Ukraine's President Volodymyr Zelenskyy at the Cop26 summit in Glasgow, in November 2021. PA
Ms Truss greeting Ukraine's President Volodymyr Zelenskyy at the Cop26 summit in Glasgow, in November 2021. PA
Ms Truss at the Red Fort in New Delhi during a trip to India in October 2021. Photo: No. 10, Downing Street
Ms Truss at the Red Fort in New Delhi during a trip to India in October 2021. Photo: No. 10, Downing Street
The British foreign secretary on the Plaza de la Constitucion in Mexico City, during a trip to Mexico in September 2021. Photo: No. 10, Downing Street
The British foreign secretary on the Plaza de la Constitucion in Mexico City, during a trip to Mexico in September 2021. Photo: No. 10, Downing Street
Queen Elizabeth II greeting Ms Truss at a reception for international business and investment leaders at Windsor Castle in October 2021. PA
Queen Elizabeth II greeting Ms Truss at a reception for international business and investment leaders at Windsor Castle in October 2021. PA
Liz Truss with Antony Blinken, the US secretary of state, in New York, in September 2021. Photo: No. 10, Downing Street
Liz Truss with Antony Blinken, the US secretary of state, in New York, in September 2021. Photo: No. 10, Downing Street
Ms Truss on a morning jog over Brooklyn Bridge in New York in September 2021. Photo: No. 10, Downing Street
Ms Truss on a morning jog over Brooklyn Bridge in New York in September 2021. Photo: No. 10, Downing Street
Former Chancellor Philip Hammond, centre, holding his red ministerial box outside 11, Downing Street, flanked by Treasury colleagues Ms Truss and Mel Stride in October 2018. PA
Former Chancellor Philip Hammond, centre, holding his red ministerial box outside 11, Downing Street, flanked by Treasury colleagues Ms Truss and Mel Stride in October 2018. PA
Ms Truss, then secretary of state for justice, being escorted around HMP Brixton by prison governor David Bamford in November 2016. PA
Ms Truss, then secretary of state for justice, being escorted around HMP Brixton by prison governor David Bamford in November 2016. PA
Ms Truss as she became the first woman ever to hold the role of Lord Chancellor, arriving at the Royal Courts of Justice before being installed in July 2016. PA
Ms Truss as she became the first woman ever to hold the role of Lord Chancellor, arriving at the Royal Courts of Justice before being installed in July 2016. PA
In April 2016, the former environment secretary Liz Truss listening to former chancellor of the exchequer George Osborne (not seen) during his speech at the National Composites Centre in Bristol. PA
In April 2016, the former environment secretary Liz Truss listening to former chancellor of the exchequer George Osborne (not seen) during his speech at the National Composites Centre in Bristol. PA
When she was environment minister, Ms Truss visited the bridge over the River Wharfe in Tadcaster, which collapsed after heavy flooding in December 2015. Getty Images
When she was environment minister, Ms Truss visited the bridge over the River Wharfe in Tadcaster, which collapsed after heavy flooding in December 2015. Getty Images
Addressing the Conservative party conference in Birmingham in 2014 when she was secretary of state for environment, food and rural affairs. Getty Images
Addressing the Conservative party conference in Birmingham in 2014 when she was secretary of state for environment, food and rural affairs. Getty Images
Mr Truss on the Sawnnington Farm to Fork stand at the Norfolk Food Festival at the Houses Of Parliament in October 2011. PA
Mr Truss on the Sawnnington Farm to Fork stand at the Norfolk Food Festival at the Houses Of Parliament in October 2011. PA
Conservative Parliamentary candidate for South-West Norfolk Elizabeth Truss, while canvassing in the village of West Walton during the 2010 General Election campaign. PA
Conservative Parliamentary candidate for South-West Norfolk Elizabeth Truss, while canvassing in the village of West Walton during the 2010 General Election campaign. PA
The former Conservative Shadow Home Secretary, Dominic Grieve, centre, speaking at the launch Reform's Lawful Society report on the nature of crime and the incentives in the criminal justice system while Ms Truss looks on, in September 2008. PA
The former Conservative Shadow Home Secretary, Dominic Grieve, centre, speaking at the launch Reform's Lawful Society report on the nature of crime and the incentives in the criminal justice system while Ms Truss looks on, in September 2008. PA
Former Conservative Leader William Hague meeting conservative candidate for Calder valley Ms Truss, during the General Election Campaign for 2005. PA
Former Conservative Leader William Hague meeting conservative candidate for Calder valley Ms Truss, during the General Election Campaign for 2005. PA

Victoria Scholar, head of investment at Interactive Investor, a UK-based flat fee investment platform, said investors are welcoming “the potential for a more economically savvy, market-friendly leader”.

“There is still plenty of caution towards the UK as an investment destination given the ongoing political uncertainty, the growing risk of recession and Britain’s persistent inflation problem with price levels hovering at 40-year highs," she added.

“Focus among investors now shifts to the leadership election, the chancellor’s medium-term fiscal plan on 31st October and the Bank of England’s rate decision in early November.”

The lowdown

Bohemian Rhapsody

Director: Bryan Singer

Starring: Rami Malek, Lucy Boynton, Gwilym Lee

Rating: 3/5

Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press

THE SPECS

Engine: 3.6-litre V6

Transmission: eight-speed automatic

Power: 285bhp

Torque: 353Nm

Price: TBA

On sale: Q2, 2020

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.

Banthology: Stories from Unwanted Nations
Edited by Sarah Cleave, Comma Press

RACE CARD AND SELECTIONS

5pm: Maiden (PA) Dh80,000 1,200m

5,30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,200m

6pm: The President’s Cup Listed (TB) Dh380,000 1,400m

6.30pm: The President’s Cup Group One (PA) Dh2,500,000 2,200m

7pm: Arabian Triple Crown Listed (PA) Dh230,000 1,600m

7.30pm: Handicap (PA) Dh80,000 1,400m

 

The National selections

5pm: RB Hot Spot

5.30pm: Dahess D’Arabie

6pm: Taamol

6.30pm: Rmmas

7pm: RB Seqondtonone

7.30pm: AF Mouthirah

RESULTS

5pm: Maiden (PA) Dh80,000 1,200m
Winner: Shafaf, Sam Hitchcott (jockey), Ahmed Al Mehairbi (trainer)
5,30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,200m
Winner: Noof KB, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Listed (TB) Dh380,000 1,400m
Winner: Taamol, Jim Crowley, Ali Rashid Al Raihe
6.30pm: The President’s Cup Group One (PA) Dh2,500,000 2,200m
Winner: Rmmas, Tadhg O’Shea, Jean de Roualle
7pm: Arabian Triple Crown Listed (PA) Dh230,000 1,600m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
7.30pm: Handicap (PA) Dh80,000 1,400m
Winner: AF Mekhbat, Antonio Fresu, Ernst Oertel

THE SPECS

Engine: 1.5-litre, four-cylinder turbo

Transmission: seven-speed dual clutch automatic

Power: 169bhp

Torque: 250Nm

Price: Dh54,500

On sale: now

More on Turkey's Syria offence
Results

4pm: Al Bastakiya Listed US$300,000 (Dirt) 1,900m; Winner: Emblem Storm, Oisin Murphy (jockey), Satish Seemar (trainer).

4.35pm: Mahab Al Shimaal Group 3 $350,000 (D) 1,200m; Winner: Wafy, Tadhg O’Shea, Satish Seemar.

5.10pm: Nad Al Sheba Turf Group 3 $350,000 (Turf) 1,200m; Winner: Wildman Jack, Fernando Jara, Doug O’Neill.

5.45pm: Burj Nahaar Group 3 $350,000 (D) 1,600m; Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass.

6.20pm: Jebel Hatta Group 1 $400,000 (T) 1,800m; Winner: Barney Roy, William Buick, Charlie Appleby.

6.55pm: Al Maktoum Challenge Round-3 Group 1 $600,000 (D) 2,000m; Winner: Matterhorn, Mickael Barzalona, Salem bin Ghadayer.

7.30pm: Dubai City Of Gold Group 2 $350,000 (T) 2,410m; Winner: Loxley, Mickael Barzalona, Charlie Appleby.

RESULTS

Manchester United 2

Anthony Martial 30'

Scott McTominay 90 6' 

Manchester City 0

The biog:

Languages: Arabic, Farsi, Hindi, basic Russian 

Favourite food: Pizza 

Best food on the road: rice

Favourite colour: silver 

Favourite bike: Gold Wing, Honda

Favourite biking destination: Canada 

Killing of Qassem Suleimani
heading

Iran has sent five planeloads of food to Qatar, which is suffering shortages amid a regional blockade.

A number of nations, including Iran's major rival Saudi Arabia, last week cut ties with Qatar, accusing it of funding terrorism, charges it denies.

The land border with Saudi Arabia, through which 40% of Qatar's food comes, has been closed.

Meanwhile, mediators Kuwait said that Qatar was ready to listen to the "qualms" of its neighbours.

Profile Box

Company/date started: 2015

Founder/CEO: Mohammed Toraif

Based: Manama, Bahrain

Sector: Sales, Technology, Conservation

Size: (employees/revenue) 4/ 5,000 downloads

Stage: 1 ($100,000)

Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)

Rashid & Rajab

Director: Mohammed Saeed Harib

Stars: Shadi Alfons,  Marwan Abdullah, Doaa Mostafa Ragab 

Two stars out of five 

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

While you're here
Iraq and the virus
Three tips from La Perle's performers

1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.

2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.

3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.

UAE currency: the story behind the money in your pockets
Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Tomorrow 2021
Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

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MATCH INFO

Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

Second leg

Liverpool v Barcelona, Tuesday, May 7, 11pm

Games on BeIN Sports

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

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Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Transgender report

 

Rock in a Hard Place: Music and Mayhem in the Middle East
Orlando Crowcroft
Zed Books

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
Our commentary on Brexit
GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Charlotte Gainsbourg

Rest

(Because Music)

The specs: 2018 Audi R8 V10 RWS

Price: base / as tested: From Dh632,225

Engine: 5.2-litre V10

Gearbox: Seven-speed automatic

Power: 540hp @ 8,250rpm

Torque: 540Nm @ 6,500rpm

Fuel economy, combined: 12.4L / 100km

Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months
MATCH INFO

Champions League quarter-final, first leg

Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

more from Janine di Giovanni
PSG's line up

GK: Alphonse Areola (youth academy)

Defence - RB: Dani Alves (free transfer); CB: Marquinhos (€31.4 million); CB: Thiago Silva (€42m); LB: Layvin Kurzawa (€23m)

Midfield - Angel di Maria (€47m); Adrien Rabiot (youth academy); Marco Verratti (€12m)

Forwards - Neymar (€222m); Edinson Cavani (€63m); Kylian Mbappe (initial: loan; to buy: €180m)

Total cost: €440.4m (€620.4m if Mbappe makes permanent move)

The specs

Engine: 2.9-litre, V6 twin-turbo

Transmission: seven-speed PDK dual clutch automatic

Power: 375bhp

Torque: 520Nm

Price: Dh332,800

On sale: now

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

Isle of Dogs

Director: Wes Anderson

Starring: Bryan Cranston, Liev Schreiber, Ed Norton, Greta Gerwig, Bill Murray, Jeff Goldblum, Scarlett Johansson

Three stars

RACE RESULTS

1. Valtteri Bottas (FIN/Mercedes) 1hr 21min 48.527sec
2. Sebastian Vettel (GER/Ferrari) at 0.658sec
3. Daniel Ricciardo (AUS/Red Bull) 6.012 
4. Lewis Hamilton (GBR/Mercedes) 7.430
5. Kimi Räikkönen (FIN/Ferrari) 20.370
6. Romain Grosjean (FRA/Haas) 1:13.160
7. Sergio Pérez (MEX/Force India) 1 lap
8. Esteban Ocon (FRA/Force India) 1 lap
9. Felipe Massa (BRA/Williams) 1 lap
10. Lance Stroll (CAN/Williams) 1 lap
11. Jolyon Palmer (GBR/Renault) 1 lap
12. Stoffel Vandoorne (BEL/McLaren) 1 lap
13. Nico Hülkenberg (GER/Renault) 1 lap
14. Pascal Wehrlein (GER/Sauber) 1 lap
15. Marcus Ericsson (SWE/Sauber) 2 laps
16. Daniil Kvyat (RUS/Toro Rosso) 3 laps

Asia%20Cup%202022
%3Cp%3E%3Cstrong%3EWhat%3C%2Fstrong%3E%3Cbr%3EAsia%20Cup%20final%3A%20Sri%20Lanka%20v%20Pakistan%3Cbr%3E%3Cbr%3E%3Cstrong%3EWhen%20%3C%2Fstrong%3E%3Cbr%3ESunday%2C%20September%2011%2C%20from%206pm%3Cbr%3E%3Cbr%3E%3Cstrong%3EWhere%3C%2Fstrong%3E%3Cbr%3EDubai%20International%20Stadium%3Cbr%3E%3Cbr%3E%3Cstrong%3EHow%20to%20watch%3C%2Fstrong%3E%3Cbr%3ECatch%20the%20live%20action%20on%20Starzplay%20across%20Mena%20region.%26nbsp%3B%3C%2Fp%3E%0A
In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Women%E2%80%99s%20Asia%20Cup
%3Cp%3ESylhet%2C%20Bangladesh%3Cbr%3E%3Cbr%3E%3Cstrong%3EUAE%20results%3C%2Fstrong%3E%3Cbr%3ELost%20to%20Sri%20Lanka%20by%2011%20runs%3Cbr%3E%3Cbr%3E%3Cstrong%3EUAE%20fixtures%3C%2Fstrong%3E%3Cbr%3ETue%20Oct%204%2C%20v%20India%3Cbr%3EWed%20Oct%205%2C%20v%20Malaysia%3Cbr%3EFri%20Oct%207%2C%20v%20Thailand%3Cbr%3ESun%20Oct%209%2C%20v%20Pakistan%3Cbr%3ETue%20Oct%2011%2C%20v%20Bangladesh%3C%2Fp%3E%0A
Updated: October 21, 2022, 5:00 AM`
Liz TrussEconomyMarkets