Tommy Fleetwood of England putts on to the seventh green during the 2018 Ryder Cup at The Golf National in Guyancourt, near Paris. EPA
Tommy Fleetwood of England putts on to the seventh green during the 2018 Ryder Cup at The Golf National in Guyancourt, near Paris. EPA
Tommy Fleetwood of England putts on to the seventh green during the 2018 Ryder Cup at The Golf National in Guyancourt, near Paris. EPA
Tommy Fleetwood of England putts on to the seventh green during the 2018 Ryder Cup at The Golf National in Guyancourt, near Paris. EPA

PGA of America consider staging Ryder Cup without fans


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This year’s Ryder Cup could be staged without fans in light of the coronavirus crisis, according to the Professional Golfers' Association (PGA) of America.

The highly anticipated clash between the United States and Europe is scheduled to take place at Whistling Straits, Wisconsin, from September 25-27.

The Ryder Cup – golf’s most-viewed event – has become renowned for its boisterous and partisan crowds. However the current pandemic has led to speculation that this year’s competition will be played in front of empty galleries.

Speaking to New York's WFAN radio, PGA chief executive Seth Waugh said that while a Ryder Cup without spectators would be a bitter pill to swallow, the body was looking at various options.

"It's hard to imagine one without fans," Waugh said. "We have begun to talk about whether you could create some virtual fan experience, and we're going to try to be as creative as we can.

"It's [still] to be determined, frankly, whether you could hold it without fans or not... the fans are the Ryder Cup, to a certain degree."

Earlier this month, European captain Padraig Harrington conceded that the event should be cancelled if fans could not attend, before admitting at the weekend that it might well go ahead without spectators.

Last month, a report in The Telegraph said a postponement until next year was being strongly considered, only for organisers – PGA of America and the European Tour – to refute those claims. The Ryder Cup is critically important financially to both bodies.

Last Thursday, the PGA Tour announced that fans would be not be permitted at the first four events when its season restarts in June. The European Tour, meanwhile, has yet to confirm a date for its return, with its calendar cancelled and postponed through until the end of July.

Last week, chief executive Keith Pelley warned the tour would be “profoundly different” when it does start back up following the crisis, including significantly reduced prize funds.

Waugh said the PGA Championship, pushed back from May to early August in San Francisco, could also go ahead without spectators, adding: “All of them are better with fans, and I’m not suggesting it doesn’t change the experience, but in the Ryder Cup it’s particularly important. We’ll be very careful about that. It’s a very unique thing.”

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Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

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COMPANY%20PROFILE
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What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

WHAT%20IS%20THE%20LICENSING%20PROCESS%20FOR%20VARA%3F
%3Cp%3EVara%20will%20cater%20to%20three%20categories%20of%20companies%20in%20Dubai%20(except%20the%20DIFC)%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECategory%20A%3A%3C%2Fstrong%3E%20Minimum%20viable%20product%20(MVP)%20applicants%20that%20are%20currently%20in%20the%20process%20of%20securing%20an%20MVP%20licence%3A%20This%20is%20a%20three-stage%20process%20starting%20with%20%5B1%5D%20a%20provisional%20permit%2C%20graduating%20to%20%5B2%5D%20preparatory%20licence%20and%20concluding%20with%20%5B3%5D%20operational%20licence.%20Applicants%20that%20are%20already%20in%20the%20MVP%20process%20will%20be%20advised%20by%20Vara%20to%20either%20continue%20within%20the%20MVP%20framework%20or%20be%20transitioned%20to%20the%20full%20market%20product%20licensing%20process.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECategory%20B%3A%3C%2Fstrong%3E%20Existing%20legacy%20virtual%20asset%20service%20providers%20prior%20to%20February%207%2C%202023%2C%20which%20are%20required%20to%20come%20under%20Vara%20supervision.%20All%20operating%20service%20proviers%20in%20Dubai%20(excluding%20the%20DIFC)%20fall%20under%20Vara%E2%80%99s%20supervision.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECategory%20C%3A%3C%2Fstrong%3E%20New%20applicants%20seeking%20a%20Vara%20licence%20or%20existing%20applicants%20adding%20new%20activities.%20All%20applicants%20that%20do%20not%20fall%20under%20Category%20A%20or%20B%20can%20begin%20the%20application%20process%20through%20their%20current%20or%20prospective%20commercial%20licensor%20%E2%80%94%20the%20DET%20or%20Free%20Zone%20Authority%20%E2%80%94%20or%20directly%20through%20Vara%20in%20the%20instance%20that%20they%20have%20yet%20to%20determine%20the%20commercial%20operating%20zone%20in%20Dubai.%C2%A0%3C%2Fp%3E%0A
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

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