VALENCIA, SPAIN - JUNE 30:  Alinghi Team Switzerland and Emirates Team New Zealand race during the sixth race of the 32nd America's Cup Match by Louis Vuitton on June 30, 2007 in Valencia, Spain.  (Photo by Shaun Botterill/Getty Images)
The sailing team Alinghi have invited their challengers to compete in Valencia, Spain.

Alinghi accepts a Valencia race



The America's Cup sailing race took a step farther away from Ras al Khaimah last night as Alinghi, the Cup holders, officially invited the challengers to compete in Valencia, Spain, the only venue with no legal obstructions.

The move came after the Swiss team failed to persuade BMW Oracle to accept an alternative Southern Hemisphere venue, although the offer stands until Friday. "After the failure of discussions to find a settlement, we now accept the venue that has been previously accepted by Oracle and the court," said Paco Lattore, an Alinghi spokesman. "Our priority is to hold the regatta." Alinghi still lists RAK as its preferred venue, however, and there is a slim chance that the race could yet be staged in the northern emirate if the team's appeal against the disqualification of RAK is successful. A decision in that appeal is due in mid-December.

Golden Gate Yacht Club in San Francisco, which BMW Oracle represents, welcomed Valencia as a venue, and called for the appeal in favour of RAK to be dropped. "We're very pleased to see that Société Nautique de Genève/Alinghi have finally agreed with us that Valencia in February is the correct venue to hold the 33rd America's Cup," said Tom Ehman, a spokesman for the team. "Presumably SNG will now drop their appeal of the court's decision that Ras al Khaimah is an illegal venue."

With the deadline for the race fast approaching and a need to confirm a venue to prepare for the race, Valencia may turn out to be the only option for a February race. Having previously opposed Valencia as a venue for a February race due to winter weather, unstable wind conditions and concerns over safety, Alinghi confirmed its reversal in a letter to Justice Shirley Kornreich in New York yesterday.

"We still believe that Valencia is a less suitable venue than RAK for a February race, as it is very cold and the weather is unpredictable," Mr Lattore said. "The race could come down to the circumstances of weather for the day, and therefore it may not emphasise the quality of the boats and the skill of the crew. Nevertheless, it is a feasible venue and therefore we should get the race done." Racing in either Prosperpine Beach or Townsville on Australia's Gold Coast was proposed last week. If BMW Oracle does not accept this offer by the end of the week, Valencia will be the default venue, pending judgment on the RAK appeal, according to Alinghi.

Valencia, the successful venue for the 2008 race, was authorised as a permissible venue by the New York Supreme Court. In a statement, the Alinghi skipper, Brad Butterworth, expressed his disappointment in moving to Valencia. "We went into the talks in good faith, ready to make concessions in order to guarantee the return of the Cup to the water for a February duel between two state-of-the-art boats," he said. "But BMW Oracle's priority was to delay the race because they are not ready. Now they have to live with their choice of date. I think I speak for the community when I say we want the cup sorted out as soon as possible on the water."

Valencia staged the first ever European hosted America's Cup in 2008 in a regatta that was widely heralded as one of the most successful in the event's long history, attracting 6.4 million visitors and generating a budget surplus of ?60 million (Dh330m). Ernesto Bertarelli, owner of Alinghi, said the venue required predictable wind conditions to guarantee a fair race and showcase the boats, which will be the most technologically advanced ever.

His counterpart, Larry Ellison, was critical of Alinghi's choice of RAK, citing concerns over security and a lack of infrastructure. Traditionally it has been the right of the holder to select the venue for the next race. tbrooks@thenational.ae

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Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

England World Cup squad

Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

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Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

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COMPANY PROFILE

Name: SmartCrowd
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