Stefan Sorak trains at the Raffles International School pool.
Stefan Sorak trains at the Raffles International School pool.

Sorak holds edge over Venancio in Serbian bid for Olympics



Two UAE-based swimmers will go in direct competition tomorrow for the chance to join a third member of their Dubai club at the London Olympics.

Stefan Sorak, who has lived here for the past year, will be part of a four-man Serbia team pursuing one of the qualifying places for the 4x200 metre relay event at the European Long Course Championship in Hungary.

The Serbian quartet's bid will be aided by the presence in their line up of Velimir Stjepanovic, the UAE-raised swimmer who has already qualified for the Games in the 200m butterfly.

Both Sorak and Stjepanovic have shown promising form so far in Hungary. Stjepanovic posted one minute, 56.84 seconds, the third-fastest time of his life, in qualifying for last night's butterfly final. He finished fifth in the final.

Sorak, meanwhile, has posted two personal best times so far in this week's competition. "I'm really please with both of my swims and can now look forward to the relay," Sorak said.

"These races have given me a lot of confidence for Saturday and I can't wait to get in and race again."

The Serbians will be pitted against their Hamilton Aquatics clubmate, Tiago Venancio, who swims for Portugal, in tomorrow's relay. Venancio's hopes of making it to a third Olympics are in the balance after a below-par performance in the 200m freestyle heats. His time of 1:50.3 was not good enough for a semi-finals place around a second slower than at the Games test event in London earlier this year.

"I went out too slowly, passing the 100m mark in 53.9 seconds, which meant I had settled in to a poor rhythm and couldn't pick it up," Venancio said.

Venancio still has a chance to qualify for his preferred event, as his first leg of the 4x200m relay will be considered for individual qualification.

Hili 2: Unesco World Heritage site

The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.


Abtal

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

      By signing up, I agree to The National's privacy policy
      Abtal