MONACO // Two countries will be allowed to co-host Olympic Games and will have the power to add new sports as the International Olympic Committee (IOC) voted in sweeping changes yesterday to the world’s biggest sporting event.
The measures are part of a campaign by IOC president Thomas Bach to make the Summer and Winter Olympics cheaper to stage and more attractive to the public as the organisation battles increased competition for audiences.
Bach has proposed 40 reforms, known as Agenda 2020, to be voted on at a special session of the 104-member IOC.
The first measures were unanimously passed and Bach called them “a major step forward in the organisation of the Olympic Games”.
The votes allowed for future Games to be hosted by two cities, or two countries, for “sustainability” and “geography” reasons.
Bidding for the Games should be cheaper, since the number of presentations will be cut and the IOC will pay more of the costs.
In a bid to increase the attraction of the Games, host cities will be allowed to suggest a one-off extra sport, which would have to be approved by the IOC.
But the number of athletes will be capped at 10,500 for the Summer Olympics and 2,900 for the Winter Games, which means that if new sports are added, others could be eliminated.
Organisers of the Tokyo 2020 Games may be among the first to profit from the change. They are pressing for the inclusion of baseball and softball.
There were 26 sports at the London Olympics in 2012, but Franco Carraro, who led the working group on sports, said there could be up to 30 sports at future Games.
Bach warned that the IOC had to bolster its credibility and transform the Olympics with “important and far-reaching changes” because of a major shift in attitudes toward the Games.
“If we do not address these challenges here and now, we will be hit by them very soon,” Bach said.
The decision to allow joint hosting is a revolution.
Sports such as football traditionally have been spread across several venues, but these have been exceptional cases.
Bach sought the change to the Olympic charter to reduce the cost of the Games and to allow smaller countries to bid. The IOC says it wants more talks with candidate cities on how the event can be made more sustainable. There will be a new emphasis on using existing and temporary facilities.
It calls on candidate cities “to present a project that fits their sporting, economic, social and environmental long-term planning needs”.
Bach will also announce the launch of an Olympic television channel.
Bach, an Olympic fencing gold medallist, has pursued a reform agenda since becoming president in September 2013.
All 40 proposals are expected to be passed, though questions were asked in the debate about how the Olympic leadership would preserve the Games’ “atmosphere” if events are split.
Bach has said that once the votes are over, the IOC will immediately start talks with organisers of the 2018 Winter Olympics in Pyeonchang, South Korea, and the Tokyo 2020 Games, to see if savings can be made.
The 2012 London Olympics was hailed as a success and the Summer Games remains a big-ticket item with US channel NBC, which will pay US$7.75 billion (Dh28.5bn) for the broadcasting rights to the next six Games. Bach said the IOC had signed sponsorship and television deals worth $10 billion in 10 months this year.
But the Winter Olympics is slumbering. Russia spent more than $50 billion on the Sochi Games this year and there are only two candidates, Beijing and the Kazakh city of Almaty, for the 2022 Games.
Follow us on Twitter at SprtNationalUAE
The struggle is on for active managers
David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.
The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.
Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.
Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.
Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.
At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn.
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
RESULTS
5pm Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner AF Nashrah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
5.30pm Maiden (PA) Dh70,000 (D) 1,400m
Winner Mutaqadim, Riccardo Iacopini, Ibrahim Al Hadhrami.
6pm Maiden (PA) Dh70,000 (D) 1,600m
Winner Hameem, Jose Santiago, Abdallah Al Hammadi.
6.30pm Maiden (PA) Dh70,000 (D) 1,600m
Winner AF Almomayaz, Sandro Paiva, Ali Rashid Al Raihe.
7pm Handicap (PA) Dh70,000 (D) 1,800m
Winner Dalil Al Carrere, Fernando Jara, Mohamed Daggash.
7.30pm Handicap (TB) Dh70,000 (D) 1,000m
Winner Lahmoom, Royston Ffrench, Salem bin Ghadayer.
8pm Handicap (PA) Dh70,000 (D) 1,000m
Winner Jayide Al Boraq, Bernardo Pinheiro, Khalifa Al Neyadi.
THE DETAILS
Kaala
Dir: Pa. Ranjith
Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar
Rating: 1.5/5
Trump v Khan
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
Cultural fiesta
What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now