Sultan Al Neyadi's remarkable space mission
With reference to the report Sultan Al Neyadi posts tribute to Egypt from International Space Station (March 28): This was an interesting read. Hats off to the UAE astronaut for the feats he is accomplishing on a weekly basis on board the International Space Station. He paid a touching tribute to Egypt, rightly mentioning the old civilisation, the world-famous pyramids and different aspects of Egyptian culture. It is incredible that Al Neyadi is experiencing six months in space. It will be for him a trip of a lifetime. It is also very interesting to read that during his time there he will take part in more than 200 experiments by Nasa and 19 that involve UAE universities. Apart from the scientific work, in conveying such spectacular images – pointing out how the Nile Delta from space resembles a flower from that vantage point – he is making everyone proud, his family, his people, his country and the Arab world at large. Kudos to Al Neyadi.
K Ragavan, Bengaluru, India
Attempts needed to restore peace in the world
With regard to the report Brazil's Bolsonaro will not lead opposition to President Lula (March 30): I respect President Lula. The time may have come for leaders such as him and other non-aligned countries such as Brazil, India, China, Saudi Arabia, and the UAE to get together and prepare a plan to restore peace between Russia and Ukraine. There has been too high a cost. Thousands of civilians, including children have died. Countless Ukrainians have become refugees in foreign lands.
In addition to the massive human cost, the economy of the entire world has gone into a tailspin, due to the war. Russia and Ukraine together produce one-third of the world’s wheat. Ukraine is also a major producer of sunflower oil. Many countries in the Middle East are dependent on Russia and Ukraine for agricultural products. Due to agricultural shortfalls and transport issues, there are shortages of food in many parts of the world and inflation is at an all-time high in many countries.
A protracted war will only have further ramifications across countries, including on the prices of oil, raw materials, commodities and supply chains. We live in a globally interdependent world. Events in any part of the world have an immediate and cascading impact everywhere. Global statecraft could help resolve this issue peacefully. This is the essence of leadership. It would be useful if multiple nations focus on bringing about a ceasefire, rather than taking sides in this ugly battle.
Rajendra Aneja, Dubai
UAE%20SQUAD
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MATCH INFO
World Cup 2022 qualifier
UAE v Indonesia, Thursday, 8pm
Venue: Al Maktoum Stadium, Dubai
Mobile phone packages comparison
RESULT
Deportivo La Coruna 2 Barcelona 4
Deportivo: Perez (39'), Colak (63')
Barcelona: Coutinho (6'), Messi (37', 81', 84')
Company name: Farmin
Date started: March 2019
Founder: Dr Ali Al Hammadi
Based: Abu Dhabi
Sector: AgriTech
Initial investment: None to date
Partners/Incubators: UAE Space Agency/Krypto Labs
UAE currency: the story behind the money in your pockets
JAPANESE GRAND PRIX INFO
Schedule (All times UAE)
First practice: Friday, 5-6.30am
Second practice: Friday, 9-10.30am
Third practice: Saturday, 7-8am
Qualifying: Saturday, 10-11am
Race: Sunday, 9am-midday
Race venue: Suzuka International Racing Course
Circuit Length: 5.807km
Number of Laps: 53
Watch live: beIN Sports HD
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
THE SPECS
Engine: AMG-enhanced 3.0L inline-6 turbo with EQ Boost and electric auxiliary compressor
Transmission: nine-speed automatic
Power: 429hp
Torque: 520Nm
Price: Dh360,200 (starting)
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Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg