F1 supremo Bernie Ecclestone looks on in the paddock after practice for the Malaysia Formula One Grand Prix at Sepang Circuit on March 27, 2015 in Kuala Lumpur, Malaysia. Lars Baron / Getty Images
F1 supremo Bernie Ecclestone looks on in the paddock after practice for the Malaysia Formula One Grand Prix at Sepang Circuit on March 27, 2015 in Kuala Lumpur, Malaysia. Lars Baron / Getty Images

Bernie Ecclestone says there is no guarantee for Hockenheim in ‘16



Bernie Ecclestone has suggested next year’s German Grand Prix could also fall by the wayside just days after this season’s race was officially dropped from the Formula One calendar.

As per its contract, Hockenheim is scheduled to host the event in 2016, but at this early stage F1 chief executive Ecclestone is uncertain whether it will go ahead.

Asked at the Malaysian Grand Prix whether he could confirm it would take place, Ecclestone said, “no”.

Informed that Hockenheim has a contract for 2016 and 2018, Ecclestone said: “It doesn’t make a difference. A lot of people have a contract.”

Ecclestone intimated if Germany was unable to afford the race this year, then it will struggle to pay the hosting fee next season.

The Nurburgring was scheduled to host the race in July, but because of numerous financial difficulties behind the scenes, the circuit was ultimately forced to withdraw.

Ecclestone turned to Hockenheim to step in and fill the void, but negotiations broke down and time ran out as Hockenheim officials said they did not have enough time to promote and sell tickets.

“The trouble in Germany was the Nurburgring spent an awful lot of money, which they borrowed,” Ecclestone said.

“They didn’t need to spend what they spent and therefore didn’t need to borrow the amount they borrowed. They forgot to pay it back and that caused a few ripples. It sent a bad message.”

Historic European races are fast falling away, with France, San Marino and now Germany losing their place on the calendar in recent times.

Italy is another that will struggle to pay its way beyond the expiry of its current contract in 2016 unless the national government steps in to assist or Ecclestone reduces his fees.

Asked whether he was prepared to see F1’s European heartland wither away, Ecclestone said: “There are lots of things we all would like, but we don’t have them because we can’t afford them.”

Suggested to Ecclestone “if Monza goes, it goes”, he said: “Whatever goes, goes.”

Ecclestone did concede “it would be terrible” if Europe did lose all its races, particularly as the series would no longer become a world championship.

Many people say Ecclestone’s hosting fees are too steep, which in turn prompts promoters to charge extortionate ticket prices, leading to reduced numbers through the turnstiles.

Hockenheim, for instance, saw its audience plummet from more than 100,000 in 2012 to just 60,000 in 2014 despite German Sebastian Vettel being a four-time world champion at that stage and Mercedes dominating last year.

“Probably right,” said Ecclestone, regarding comments about overcharging.

“But the teams get 62 per cent of whatever profit is made, so if we make less money, the teams make less money.”

Meanwhile, Lewis Hamilton hailed his crew of mechanics following a difficult day at the office that he claims left him “heavily compromised” ahead of this weekend’s race.

Fresh from an Australian Grand Prix “triple crown” of pole position, fastest lap and race win, Hamilton was forced to pull his Mercedes to one side after just four installation laps in the first practice session at the Sepang International Circuit.

After the car was taken back to the garage there were initial fears an engine change may be required, only for the fault to lie within the power unit inlet system.

The depth of the issue within the system, however, meant Hamilton did not return to the track until 38 minutes into the 90 of FP2. But the Briton, 30, wasted no time in getting up to speed as he went on to set the fastest lap, being the only driver to dip under 100 seconds with a time of one minute, 39.790 seconds.

“It was an amazing job done by my guys to rebuild the car, get the engine and gearbox back on and to get back out,” Hamilton said.

“I am very grateful for that. Especially here where it is so hot and so difficult for the tyres, so it was really important get back out.”

Ferrari’s Kimi Raikkonen was second quickest in both sessions, the Finn finishing 0.373 seconds adrift of Hamilton’s teammate Nico Rosberg in FP1 and remarkably exactly the same time off the Briton in FP2.

Although Ferrari are showing signs of closing in on Mercedes, Raikkonen said: “The car is still not perfect, but I’m sure we can improve for tomorrow.”

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The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

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Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

Profile box

Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

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BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

Henrik Stenson's finishes at Abu Dhabi HSBC Championship:

2006 - 2
2007 - 8
2008 - 2
2009 - MC
2010 - 21
2011 - 42
2012 - MC
2013 - 23
2014 - MC
2015 - MC
2016 - 3
2017 - 8

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The biog

Name: James Mullan

Nationality: Irish

Family: Wife, Pom; and daughters Kate, 18, and Ciara, 13, who attend Jumeirah English Speaking School (JESS)

Favourite book or author: “That’s a really difficult question. I’m a big fan of Donna Tartt, The Secret History. I’d recommend that, go and have a read of that.”

Dream: “It would be to continue to have fun and to work with really interesting people, which I have been very fortunate to do for a lot of my life. I just enjoy working with very smart, fun people.”

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Haltia.ai%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Arto%20Bendiken%20and%20Talal%20Thabet%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20AI%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2041%0D%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20About%20%241.7%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self%2C%20family%20and%20friends%26nbsp%3B%3C%2Fp%3E%0A
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How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

SPECS
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How Islam's view of posthumous transplant surgery changed

Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.

Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.

The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.

One school of thought viewed the removal of organs after death as equally impermissible.

That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.

Janet Yellen's Firsts

  • In 2014, she became the first woman to lead the US Federal Reserve 
  • In 1999, she became the first female chair of the White House Council of Economic Advisers 

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Keep up with all the Middle East and North Africa athletes at the 2024 Paris Olympics

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