Two Gulf states said on Saturday they did not anticipate their financial institutions to be greatly affected as a result of Britain’s vote to exit the European Union.
Saudi Arabia, the world’s largest oil exporter and Opec heavyweight, said it had already made some adjustments to assets denominated in sterling and euros in anticipation of the vote.
The Kingdom had been monitoring the situation and made the changes as a “precautionary stance,” Saudi Arabian Monetary Authority governor Ahmed Al Kholifey was quoted as saying by state news agency SPA.
“For the banking sector, we expect that the impact will be limited, because it is less exposed to the two aforementioned currencies’ movements,” he said.
Saudi Arabia’s foreign assets are mainly denominated in US dollars, in the form of securities such as US Treasury bonds and deposits with banks abroad.
The United Arab Emirates also said on Saturday any effect on its financial institutions as a result of Britain’s EU exit would be limited.
“Due to the limited interconnectedness between the UAE and UK financial systems, there are only few channels through which uncertainty about future UK and EU relations could affect the UAE financial institutions,” the country’s central bank said in a statement, asserting it would continue to monitor developments.
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Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
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Top speed: 330kph
Price: From Dh1.14 million ($311,000)
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THE HOLDOVERS
Director: Alexander Payne
Starring: Paul Giamatti, Da'Vine Joy Randolph, Dominic Sessa
Rating: 4.5/5
Score
Third Test, Day 1
New Zealand 229-7 (90 ov)
Pakistan
New Zealand won the toss and elected to bat
MATCH INFO
Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Namibia beat Oman by 52 runs
UAE beat Namibia by eight wickets
UAE v Oman - abandoned
Oman v Namibia - abandoned
Director: Paul Weitz
Stars: Kevin Hart
3/5 stars
Get inspired
Here are a couple of Valentine’s Day food products that may or may not go the distance (but have got the internet talking anyway).
Sourdough sentiments: Marks & Spencer in the United Kingdom has introduced a slow-baked sourdough loaf dusted with flour to spell out I (heart) you, at £2 (Dh9.5). While it’s not available in the UAE, there’s nothing to stop you taking the idea and creating your own message of love, stencilled on breakfast-inbed toast.
Crisps playing cupid: Crisp company Tyrells has added a spicy addition to its range for Valentine’s Day. The brand describes the new honey and chilli flavour on Twitter as: “A tenderly bracing duo of the tantalising tingle of chilli with sweet and sticky honey. A helping hand to get your heart racing.” Again, not on sale here, but if you’re tempted you could certainly fashion your own flavour mix (spicy Cheetos and caramel popcorn, anyone?).
Past winners of the Abu Dhabi Grand Prix
2016 Lewis Hamilton (Mercedes-GP)
2015 Nico Rosberg (Mercedes-GP)
2014 Lewis Hamilton (Mercedes-GP)
2013 Sebastian Vettel (Red Bull Racing)
2012 Kimi Raikkonen (Lotus)
2011 Lewis Hamilton (McLaren)
2010 Sebastian Vettel (Red Bull Racing)
2009 Sebastian Vettel (Red Bull Racing)
Disturbing facts and figures
51% of parents in the UAE feel like they are failing within the first year of parenthood
57% vs 43% is the number of mothers versus the number of fathers who feel they’re failing
28% of parents believe social media adds to the pressure they feel to be perfect
55% of parents cannot relate to parenting images on social media
67% of parents wish there were more honest representations of parenting on social media
53% of parents admit they put on a brave face rather than being honest due to fear of judgment
Source: YouGov
About Housecall
Date started: July 2020
Founders: Omar and Humaid Alzaabi
Based: Abu Dhabi
Sector: HealthTech
# of staff: 10
Funding to date: Self-funded
TWISTERS
Director:+Lee+Isaac+Chung
Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos
Rating:+2.5/5