Major sponsors Nike, Porsche, and TAG Heuer have all either ended or suspended their deals with Maria Sharapova. Damian Dovarganes / AP Photo
Major sponsors Nike, Porsche, and TAG Heuer have all either ended or suspended their deals with Maria Sharapova. Damian Dovarganes / AP Photo
Major sponsors Nike, Porsche, and TAG Heuer have all either ended or suspended their deals with Maria Sharapova. Damian Dovarganes / AP Photo
Major sponsors Nike, Porsche, and TAG Heuer have all either ended or suspended their deals with Maria Sharapova. Damian Dovarganes / AP Photo

Head stand by Maria Sharapova after failed drug test: ‘We look forward to working with her’


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Racket firm Head intends to extend its contract with five-time grand slam champion Maria Sharapova despite her failing a drugs test at this year’s Australian Open, CEO Johan Eliasch said on Thursday.

Sharapova, 28, will be provisionally suspended by the International Tennis Federation (ITF) from this weekend after she said at a news conference on Monday taking the banned substance meldonium.

Swiss watchmaker TAG Heuer cut ties with Sharapova this week, while Nike and Porsche have distanced themselves from her.

However, Eliasch said Sharapova, under contract with Head since 2011, had ‘earned the benefit of the doubt’ after making an ‘honest’ mistake.

Osman Samiuddin: Maria Sharapova, Lance Armstrong and how to reconsider how we think of doping

“For a decade Maria Sharapova has been a role model and woman of integrity who has inspired millions of fans around the world to play and watch tennis,” he said in a statement.

“The honesty and courage she displayed in announcing and acknowledging her mistake was admirable. Head is proud to stand behind Maria, now and into the future and we intend to extend her contract.

“We look forward to working with her and to announcing new sponsorships in the weeks and months ahead.”

In Los Angeles on Monday, Sharapova said she had been taking meldonium, also known as mildronate, for 10 years because of health problems and regular bouts of flu.

The drug, produced in Latvia but unavailable for purchase in the United States where Sharapova is based, was only added to the World Anti-Doping Agency (Wada) list of banned substances in January.

Manufactured for people suffering from heart problems, it can also increase blood flow and improve exercise capacity.

Jon Turner: Maria Sharapova's perceived negligence almost as crime-worthy as deliberately doping

Head said they were convinced Sharapova had not taken the drug to gain any advantage.

“It is common ground within the scientific community that in order for meldonium to have any relevant performance enhancing effect it has to be taken in daily dosages in excess of 1,000 to 2,000mg,” the statement said.

“According to the attorney for Maria, her dosage was significantly less than that.”

While underlining Head’s commitment to clean sport, Eliasch said he trusted Sharapova’s explanation that she had not realised meldonium had been banned by Wada.

“In the absence of any evidence of any intent by Maria of enhancing her performance or trying to gain an unfair advantage through the use of mildronate, we further conclude this falls into the category of ‘honest’ mistakes,” he said.

Russian biathlete Eduard Latypov was suspended from competition on Thursday after testing positive for meldonium, the latest in a flurry of athletes to fall foul of the drug.

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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.

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

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How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

COMPANY PROFILE

Company name: SimpliFi

Started: August 2021

Founder: Ali Sattar

Based: UAE

Industry: Finance, technology

Investors: 4DX, Rally Cap, Raed, Global Founders, Sukna and individuals

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Jewel of the Expo 2020

252 projectors installed on Al Wasl dome

13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas

550 tonnes of moulded steel were raised last year to cap the dome

724,000 cubic metres is the space it encloses

Stands taller than the leaning tower of Pisa

Steel trellis dome is one of the largest single structures on site

The size of 16 tennis courts and weighs as much as 500 elephants

Al Wasl means connection in Arabic

World’s largest 360-degree projection surface

Tewellah by Nawal Zoghbi is out now.

RESULT

Arsenal 2

Sokratis Papastathopoulos 45 4'

Eddie Ntkeiah 51'

Portsmouth 0

 

UAE currency: the story behind the money in your pockets

Age 26

Born May 17, 1991

Height 1.80 metres

Birthplace Sydney, Australia

Residence Eastbourne, England

Plays Right-handed

WTA titles 3

Prize money US$5,761,870 (Dh21,162,343.75)

Wins / losses 312 / 181

Building boom turning to bust as Turkey's economy slows

Deep in a provincial region of northwestern Turkey, it looks like a mirage - hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle.

Meant to provide luxurious accommodations for foreign buyers, the houses are however standing empty in what is anything but a fairytale for their investors.

The ambitious development has been hit by regional turmoil as well as the slump in the Turkish construction industry - a key sector - as the country's economy heads towards what could be a hard landing in an intensifying downturn.

After a long period of solid growth, Turkey's economy contracted 1.1 per cent in the third quarter, and many economists expect it will enter into recession this year.

The country has been hit by high inflation and a currency crisis in August. The lira lost 28 per cent of its value against the dollar in 2018 and markets are still unconvinced by the readiness of the government under President Recep Tayyip Erdogan to tackle underlying economic issues.

The villas close to the town centre of Mudurnu in the Bolu region are intended to resemble European architecture and are part of the Sarot Group's Burj Al Babas project.

But the development of 732 villas and a shopping centre - which began in 2014 - is now in limbo as Sarot Group has sought bankruptcy protection.

It is one of hundreds of Turkish companies that have done so as they seek cover from creditors and to restructure their debts.

The specs

Engine: 1.4-litre 4-cylinder turbo

Power: 180hp at 5,500rpm

Torque: 250Nm at 3,00rpm

Transmission: 5-speed sequential auto

Price: From Dh139,995

On sale: now

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

ITU Abu Dhabi World Triathlon

For more information go to www.abudhabi.triathlon.org.

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

No.6 Collaborations Project

Ed Sheeran (Atlantic)

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

Nancy 9 (Hassa Beek)

Nancy Ajram

(In2Musica)

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

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The bio

Job: Coder, website designer and chief executive, Trinet solutions

School: Year 8 pupil at Elite English School in Abu Hail, Deira

Role Models: Mark Zuckerberg and Elon Musk

Dream City: San Francisco

Hometown: Dubai

City of birth: Thiruvilla, Kerala

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5pm: UAE Martyrs Cup (TB) Conditions; Dh90,000; 2,200m
5.30pm: Wathba Stallions Cup (PA) Handicap; Dh70,000; 1,400m​​​​​​​
6pm: UAE Matyrs Trophy (PA) Maiden; Dh80,000; 1,600m​​​​​​​
6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige; Dh100,000; 1,600m​​​​​​​
7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige; Dh125,000; 1,600m​​​​​​​
8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1; Dh5,000,000; 1,600m