Naomi Osaka during a news conference after losing her third-round match against Amanda Anisimova at the Australian Open this month. Reuters
Naomi Osaka during a news conference after losing her third-round match against Amanda Anisimova at the Australian Open this month. Reuters
Naomi Osaka during a news conference after losing her third-round match against Amanda Anisimova at the Australian Open this month. Reuters
Naomi Osaka during a news conference after losing her third-round match against Amanda Anisimova at the Australian Open this month. Reuters


Naomi Osaka is changing people's attitude to mental health


The National
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January 28, 2022

I am writing in reference to the article Defending champion Naomi Osaka crashes out of Australian Open (January 21): the world frowned when Naomi Osaka wanted to take a break from tennis to deal with her mental health issues. She was heavily criticised last year for failing to speak to the media and publicly disagreeing with French Open officials. She not only withdrew from the tournament, she also skipped the traditional news conference – considered a sin by many organisers.

But Osaka rightly chose her mental well-being over silverware at the French Open and Wimbledon thereafter. She reminds us that mental health issues are often ignored. To perform at the top level, one needs physical strength and sound mental health.

She came back determined for the Australian Open this year after a well-deserved break, hoping to defend the title. Unfortunately for her, she lost in the third round.

Osaka may not have won the cup but she has won our hearts by coming back to the court and being honest. She has set a good example for those who haven’t taken mental illnesses seriously. As she once said, "it’s OK not to be OK, and it’s OK to talk about it". One hopes her remarks about mental health will reverberate throughout the world.

Dr Praveen Sreekanthalal, Abu Dhabi

India-UAE ties key to our future

I am writing in reference to Ambassador Sunjay Sudhir's op-ed The 'living bridges' between India and UAE (January 26): I was excited to read the ambassador's piece on India's 73rd Republic Day. For it was apt for him to talk about the relationship that India and the UAE have enjoyed long before both nations came into being. Indeed, the peoples of South Asia and the Gulf have for centuries engaged with each other through trade, commerce, cultural exchange and marriage.

Millions of Indians, including yours truly, have spent most of our adult lives in the UAE. We have contributed to the country's growth and, in return, sent much-needed remittance home. In a way, the two nations and their peoples have grown together.

We are always forward-looking. And even as the pandemic has set us all back, I believe this period is transitory. We shall overcome – together.

K Ragavan, Bengaluru, India

Stop fanning the Ukraine fire

I am writing in reference to the article Russia 'must choose diplomacy or conflict' Blinken tells Lavrov in 'frank' Ukraine talks (January 21): this may be a case of “more hype than reality”, but too much hype can result in reality. Why can’t both parties sue for peace, even before war breaks out, and arrive at a compromise? The US and Nato must not fan the fire, as even they will not escape the impact of a possible titanic clash.

Nazim Hasan Khan, India

Grateful to be living in Dubai

I am writing in reference to Andrew Scott's video Dubai brings cyberspace to its doorstep (January 24): those of us living in Dubai have so much to be thankful for – the amazing infrastructure, 24/7 electricity and water supply, cleanliness and, most importantly, security. The emirate is currently hosting the Expo, one of the world's biggest events. It is also leading many initiatives, in collaboration with other emirates, including producing renewable energy, creating sustainability, providing vaccinations and launching people and probes into space.

We must, however, never become complacent or self-centred. We must do our part to help the authorities maintain the city and sustain all that is rich and wonderful about it. We can start by being more mindful of the hard work being put in by essential workers and the authorities to keep our surroundings clean. A question worth asking oneself, always, is whether I as an individual love Dubai as much as Dubai loves me.

Sanjeev Ipe, Dubai

How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press

Points tally

1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3

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UAE currency: the story behind the money in your pockets
Indoor Cricket World Cup Dubai 2017

Venue Insportz, Dubai; Admission Free

Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa

Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia

Updated: January 28, 2022, 3:00 AM