Lewis Hamilton speaks with reporters in Dubai yesterday.
Lewis Hamilton speaks with reporters in Dubai yesterday.
Lewis Hamilton speaks with reporters in Dubai yesterday.
Lewis Hamilton speaks with reporters in Dubai yesterday.

Hamilton gets to know Yas - but only by computer


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Lewis Hamilton has been doing his homework on the new Yas Marina Circuit in Abu Dhabi - by watching online video footage and playing video games to get himself familiar with the track's 21 bends. The Briton, who arrived in the UAE yesterday from Bahrain, said he knows any the broad details of the 5.55km circuit, but had done as much research as he could by watching clips of Bruno Senna driving around the track.

"I don't really know the track too well, if I'm honest," said the 24-year-old. "I saw the little video they show when you walk through the airport, I have seen some footage of Bruno Senna on YouTube, and I have played a computer game simulation, but other than that I don't know too much about it." Despite his apparent lack of knowledge of features such as the pit-tunnels and run-off areas that stretch under the stands, Hamilton is confident that Abu Dhabi can see him complete a hat-trick of 2009 Grand Prix wins after victories in Hungary and Singapore.

"I always find circuits very easy to learn; it's a technique that I picked up when I was very young, but is a skill I have improved on over a period of time. When I was in GP2, we had such a short practice session that you had so much information to soak up," he said. "I never come to a track with expectations, but I hope we can be competitive and have a chance of winning so I can end my season with my third win."

Hamilton, having won the 2008 drivers' world championship on the final day at the Brazilian Grand Prix in Interlagos, struggled with a poor car at the start of this season, but has improved in recent months and is the most successful driver of the second half of the year. Despite Jenson Button having wrapped up the 2009 title earlier this month for Brawn-GP, Hamilton's McLaren team are still embroiled in a battle with their arch-rivals Ferrari for third in the constructors' championship. Hamilton will use this as extra motivation when he takes to the track.

"We are all competing at such a high level and I've really been pushing the workshop to the limit and have now reached a level that we never thought we could reach," he said. "We have exceeded our expectations; I mean to be not scoring any points at the start to finishing on podiums and getting points in every race is remarkable and strengthens our belief that you should never give up. Every race is important, but for us to finish third after not even being in the points a lot of the time at the start of the season would be a real achievement.

"And of course, it's always nice to beat Ferrari." The McLaren-Mercedes driver added he is has fond memories of being in the Emirates and is looking forward to getting to grips with the track when practice begins tomorrow. "I have heard incredible things about the circuit and I'm sure that, with the amount of effort they have put in, it will be a great show this weekend. And everyone keeps telling me I'll drive through a hotel, so I'm keen to see that ..."

@Email:gmeenaghan@thenational.ae

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Scoreline

Al Wasl 1 (Caio Canedo 90 1')

Al Ain 2 (Ismail Ahmed 3', Marcus Berg 50')

Red cards: Ismail Ahmed (Al Ain) 77'

PROFILE

Name: Enhance Fitness 

Year started: 2018 

Based: UAE 

Employees: 200 

Amount raised: $3m 

Investors: Global Ventures and angel investors 

The specs

Engine: 2.0-litre 4-cylinder turbo hybrid

Transmission: eight-speed automatic

Power: 390bhp

Torque: 400Nm

Price: Dh340,000 ($92,579

UAE currency: the story behind the money in your pockets
RESULTS

Light Flyweight (48kg): Alua Balkibekova (KAZ) beat Gulasal Sultonalieva (UZB) by points 4-1.

Flyweight (51kg): Nazym Kyzaibay (KAZ) beat Mary Kom (IND) 3-2.

Bantamweight (54kg): Dina Zholaman (KAZ) beat Sitora Shogdarova (UZB) 3-2.

Featherweight (57kg): Sitora Turdibekova (UZB) beat Vladislava Kukhta (KAZ) 5-0.

Lightweight (60kg): Rimma Volossenko (KAZ) beat Huswatun Hasanah (INA) KO round-1.

Light Welterweight (64kg): Milana Safronova (KAZ) beat Lalbuatsaihi (IND) 3-2.

Welterweight (69kg): Valentina Khalzova (KAZ) beat Navbakhor Khamidova (UZB) 5-0

Middleweight (75kg): Pooja Rani (IND) beat Mavluda Movlonova (UZB) 5-0.

Light Heavyweight (81kg): Farida Sholtay (KAZ) beat Ruzmetova Sokhiba (UZB) 5-0.

Heavyweight (81 kg): Lazzat Kungeibayeva (KAZ) beat Anupama (IND) 3-2.

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

The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

Hotel Data Cloud profile

Date started: June 2016
Founders: Gregor Amon and Kevin Czok
Based: Dubai
Sector: Travel Tech
Size: 10 employees
Funding: $350,000 (Dh1.3 million)
Investors: five angel investors (undisclosed except for Amar Shubar)

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

Oppenheimer
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