• Miss USA R'Bonney Gabriel celebrates after winning the 71st Miss Universe competition at the New Orleans Ernest N Morial Convention Centre in Louisiana. AFP
    Miss USA R'Bonney Gabriel celebrates after winning the 71st Miss Universe competition at the New Orleans Ernest N Morial Convention Centre in Louisiana. AFP
  • Gabriel on stage after being crowned Miss Universe at the 71st Miss Universe pageant, in New Orleans. AP
    Gabriel on stage after being crowned Miss Universe at the 71st Miss Universe pageant, in New Orleans. AP
  • Gabriel, back to camera, is hugged by other contestants after being crowned Miss Universe. AP
    Gabriel, back to camera, is hugged by other contestants after being crowned Miss Universe. AP
  • Gabriel celebrates after her win. Reuters
    Gabriel celebrates after her win. Reuters
  • From left, Miss Venezuela Amanda Dudamel, Miss USA Gabriel and Miss Dominican Republic Andreina Martinez hold hands before the final verdict during the 71st Miss Universe competition in Louisiana. AFP
    From left, Miss Venezuela Amanda Dudamel, Miss USA Gabriel and Miss Dominican Republic Andreina Martinez hold hands before the final verdict during the 71st Miss Universe competition in Louisiana. AFP
  • Gabriel reacts after being picked among the final three contestants in the final round. AP
    Gabriel reacts after being picked among the final three contestants in the final round. AP
  • The final five contestants, from left, Miss Dominican Republic Martinez, Miss Curacao Gabriela Dos Santos, Miss Puerto Rico Ashley Carino, Miss USA Gabriel and Miss Venezuela Dudamel. AP
    The final five contestants, from left, Miss Dominican Republic Martinez, Miss Curacao Gabriela Dos Santos, Miss Puerto Rico Ashley Carino, Miss USA Gabriel and Miss Venezuela Dudamel. AP
  • Thai businesswoman and owner of Miss Universe pageant Anne Jakkaphong Jakrajutatip speaks during the 71st Miss Universe competition. AFP
    Thai businesswoman and owner of Miss Universe pageant Anne Jakkaphong Jakrajutatip speaks during the 71st Miss Universe competition. AFP
  • Contestants take part in the final round. AFP
    Contestants take part in the final round. AFP
  • Gabriel on stage. Reuters
    Gabriel on stage. Reuters
  • Miss Trinidad and Tobago Tya Jane Ramey. Reuters
    Miss Trinidad and Tobago Tya Jane Ramey. Reuters
  • Miss Spain Alicia Faubel. Reuters
    Miss Spain Alicia Faubel. Reuters
  • Miss Australia Monique Riley. AFP
    Miss Australia Monique Riley. AFP
  • Miss Canada Amelia Tu. Reuters
    Miss Canada Amelia Tu. Reuters
  • Miss Haiti Mideline Phelizor. Reuters
    Miss Haiti Mideline Phelizor. Reuters
  • Jakrajutatip, left, as owner of the Miss Universe Organisation, presents the ImpactWayv Challenge Award to Miss Thailand Anna Sueangam-iam. AP
    Jakrajutatip, left, as owner of the Miss Universe Organisation, presents the ImpactWayv Challenge Award to Miss Thailand Anna Sueangam-iam. AP
  • Miss Colombia Maria Fernanda Aristizabal reacts after being selected as the last of the 16 finalists. AP
    Miss Colombia Maria Fernanda Aristizabal reacts after being selected as the last of the 16 finalists. AP
  • Jeannie Mai Jenkins and Olivia Culpo host the competition. Getty Images
    Jeannie Mai Jenkins and Olivia Culpo host the competition. Getty Images
  • Miss Seychelles Gabriella Gonthier walks through the crowd with fellow contestants for the start of the final round. AP
    Miss Seychelles Gabriella Gonthier walks through the crowd with fellow contestants for the start of the final round. AP

Miss Universe owner seeks to clear 'drama' over pageant licences amid withdrawals


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The new owner of the Miss Universe pageant is attempting to allay concerns over national licences following withdrawals by some countries.

National directors of Ghana and Belize have severed ties with the Miss Universe Organisation, while the national director for Seychelles and Mauritius said he was leaving his role after a new system was recently introduced.

Thai millionaire Anne Jakrajutatip, whose JKN Global Group acquired the 71-year-old beauty competition last year, said the "drama" was because "something got lost in translation and information".

Miss Universe is one of the longest-running and most-watched beauty competitions in the world; it is broadcast in 165 countries and seen by more than half a billion people annually.

Controversy began last week when Malz Promotions, which has been sending a representative from Ghana for the past five years, said it was withdrawing from the Miss Universe pageant.

"The new and sudden implementation of the Miss Universe business model under the JKN Global Group's leadership are not aligned with Malz Promotions' brand objective and would hence like to discontinue the relationship with Miss Universe," chief executive Menaye Donkor-Muntari said in a letter posted on Instagram.

Under the new system, organisations wishing to host national competitions to select Miss Universe representatives and their national directors must now submit a bid annually.

Many organisations have had long-standing relationships with the pageant, some spanning 30 years.

"In the application, you will be asked for your highest bid for the opportunity to hold the Miss Universe licence. Please be advised that proposed licence fees deemed not aligned with the market value in your region will be rejected," a memo shared online reads.

Pageant fans said the new rules would mean that organisations that have had a long relationship with the Miss Universe Organisation were no longer assured of the right to host the event. There were also concerns that the move would start a bidding war, with the rights to host the contest going to the deepest pockets, and not necessarily to entities who have the contestants' best interest.

One national director told The National that the licence to host a Miss Universe pageant can cost anywhere between $100,000 to $400,000 a year.

From left: Miss Universe 2018 Catriona Gray, Miss Universe 2020 Andrea Meza, chief executive of JKN Global Group Anne Jakrajutatip, Miss Universe 2021 Harnaaz Sandhu, Miss Universe 2011 Leila Lopes and Miss Universe 2005 Natalie Glebova. AFP
From left: Miss Universe 2018 Catriona Gray, Miss Universe 2020 Andrea Meza, chief executive of JKN Global Group Anne Jakrajutatip, Miss Universe 2021 Harnaaz Sandhu, Miss Universe 2011 Leila Lopes and Miss Universe 2005 Natalie Glebova. AFP

Miss Universe Ghana's withdrawal was followed immediately by a letter from Nevin Rupear, the national director for Miss Universe Mauritius and Miss Universe Seychelles, who said he was relinquishing his role.

In the letter addressed to Miss Universe and shared by pageant site Sash Factor, Rupear said "bidding is not for me".

"I am worth so much more than someone else bidding more to overtake all the hard work my team and I have put in since 2016. This cannot be quantified," he said.

That many organisations had already selected their representatives for Miss Universe 2023, scheduled to be held later in the year, only added to the uncertainty.

One day after day Donkor-Muntari's and Rupear's letters were posted, Yayasan Puteri Indonesia, the organisation that selects Indonesia's representative, shared a statement in which it said it was "shocked" to learn that another company had been granted the licence.

YPI has been collaborating with the Miss Universe Organisation for the past 30 years, it said, adding that it was "disappointed" by the lack of transparency in the bidding process for the rights to host the Miss Universe Indonesia pageant.

"We suspect that other factors were dominant in the transfer of the Miss Universe Indonesia licence," YPI said, without specifying, but suggested that the licence was already granted to the rival organisation even before YPI was asked to bid for a renewal.

Miss Universe has changed ownership a number of times since the first pageant was held in 1952. Former US president Donald Trump bought it in 1996 and sold it to global events and talent company IMG in 2015.

JKN Global Group bought the rights last year for a reported $20 million.

Chief executive Jakrajutatip, who earlier promised "to evolve the brand for the next generation," said in her an Instagram post that the request for bids "was meant to give voice and agency to the current directors. A way that they can speak truth to what they believe their business is worth."

"Since when [did] the Miss Universe Organisation say that the submission was all about the highest amount of money? It’s making no sense to me and it’s not my business integrity to do so," she said.

"I respect everyone who always supports Miss Universe and would love to urge everyone of you to listen before having the judgement. The organisation would love to give the transparency and would certainly be delighted to answer all of your questions."

On Thursday, Miss Universe Belize also said it was withdrawing from the competition, citing the bidding system as the reason.

"This does not align with the way I conduct business and believe it is not a sustainable way to keep a partnership long term with its directors. Because of this, I have decided to part ways with Miss Universe and give up the franchise," said Romeo Escober, the national director for Miss Universe Belize.

The specs: 2018 BMW X2 and X3

Price, as tested: Dh255,150 (X2); Dh383,250 (X3)

Engine: 2.0-litre turbocharged inline four-cylinder (X2); 3.0-litre twin-turbo inline six-cylinder (X3)

Power 192hp @ 5,000rpm (X2); 355hp @ 5,500rpm (X3)

Torque: 280Nm @ 1,350rpm (X2); 500Nm @ 1,520rpm (X3)

Transmission: Seven-speed automatic (X2); Eight-speed automatic (X3)

Fuel consumption, combined: 5.7L / 100km (X2); 8.3L / 100km (X3)

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Poacher
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How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Updated: February 18, 2023, 5:34 AM