Expo's Vision pavilion to be relaunched in District 2020

The Vision pavilion at Expo 2020 Dubai will offer visitors an “enhanced” experience when it reopens in District 2020 later this year.

District 2020 is the smart city that will repurpose more than 80 per cent of the Expo 2020 site’s built environment. It will open “in different phases between now and October”, Ahmed Al Khatib, chief development and delivery officer for Expo 2020 Dubai, told The National when the six-month event drew to a close two weeks ago.

The most striking structures in the Dubai South neighbourhood will remain. These include Al Wasl Plaza, the UAE pavilion. The two large parks, walking routes, cycle paths and restaurants will also be retained in the city’s newest residential and business district.

The Vision pavilion, designed and built as a gift and tribute to Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, is another structure that will remain as “a significant cultural asset within District 2020", organisers said on Wednesday.

Inspired by the book My Story: 50 Memories from 50 years of Service by Sheikh Mohammed, the pavilion offers visitors a glimpse of the influences that have shaped his life with an in-depth guided tour.

Visitors learn about Sheikh Mohammed’s childhood and passions, the traditional Emirati values instilled in him by his father, Sheikh Rashid bin Saeed, and his grandfather, Sheikh Saeed bin Maktoum, and the experiences that influenced his vision for Dubai and the UAE.

The development of the pavilion was a top-secret project, initially led by an internal team of only four people, to surprise Sheikh Mohammed. He visited the pavilion for the first time on October 10.

“The Vision pavilion tells a relatable human story: we all had childhood wonders, we all have passions and pastimes, we all have ambition and a vision,” said Marjan Faraidooni, chief experience officer at Expo 2020 Dubai.

“We are all shaped by our environment and have the power to change it, too — HH Sheikh Mohammed was shaped by his father and grandfather’s values and by Dubai, and, in turn, has shaped Dubai and continues to do so.”

The exhibition will be relaunched in the same format as was seen during Expo 2020 Dubai. But it will feature “a visitor experience further augmented with different programmes, alongside enhanced visitor services”, organisers said.

Muslim Council of Elders condemns terrorism on religious sites

The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.

It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.

“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.

The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Zayed Sustainability Prize

Clean water and solar homes: Zayed prize finalists present sustainability solutions

Youth take centre stage for this year's Zayed Sustainability Prize

What is the Zayed Sustainability Prize?

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

While you're here

Peter Hellyer: UAE's conservationists are playing an important role on the global stage

Gillian Duncan: Parts of UAE desert were carpeted with greenery before camels overran them

James Langton: Abu Dhabi environment report highlights record conservation efforts

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Indoor Cricket World Cup Dubai 2017

Venue Insportz, Dubai; Admission Free

Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa

Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia

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Engine: naturally aspirated 6.5-liter V12

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How much do leading UAE’s UK curriculum schools charge for Year 6?

Nord Anglia International School (Dubai) – Dh85,032
Kings School Al Barsha (Dubai) – Dh71,905
Brighton College Abu Dhabi - Dh68,560
Jumeirah English Speaking School (Dubai) – Dh59,728
Gems Wellington International School – Dubai Branch – Dh58,488
The British School Al Khubairat (Abu Dhabi) - Dh54,170
Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

BOSH!'s pantry essentials

Nutritional yeast

This is Firth's pick and an ingredient he says, "gives you an instant cheesy flavour". He advises making your own cream cheese with it or simply using it to whip up a mac and cheese or wholesome lasagne. It's available in organic and specialist grocery stores across the UAE.

Seeds

"We've got a big jar of mixed seeds in our kitchen," Theasby explains. "That's what you use to make a bolognese or pie or salad: just grab a handful of seeds and sprinkle them over the top. It's a really good way to make sure you're getting your omegas."

Umami flavours

"I could say soya sauce, but I'll say all umami-makers and have them in the same batch," says Firth. He suggests having items such as Marmite, balsamic vinegar and other general, dark, umami-tasting products in your cupboard "to make your bolognese a little bit more 'umptious'".

Onions and garlic

"If you've got them, you can cook basically anything from that base," says Theasby. "These ingredients are so prevalent in every world cuisine and if you've got them in your cupboard, then you know you've got the foundation of a really nice meal."

Your grain of choice

Whether rice, quinoa, pasta or buckwheat, Firth advises always having a stock of your favourite grains in the cupboard. "That you, you have an instant meal and all you have to do is just chuck a bit of veg in."

Virtual banks explained

What is a virtual bank?

The Hong Kong Monetary Authority defines it as a bank that delivers services through the internet or other electronic channels instead of physical branches. That means not only facilitating payments but accepting deposits and making loans, just like traditional ones. Other terms used interchangeably include digital or digital-only banks or neobanks. By contrast, so-called digital wallets or e-wallets such as Apple Pay, PayPal or Google Pay usually serve as intermediaries between a consumer’s traditional account or credit card and a merchant, usually via a smartphone or computer.

What’s the draw in Asia?

Hundreds of millions of people under-served by traditional institutions, for one thing. In China, India and elsewhere, digital wallets such as Alipay, WeChat Pay and Paytm have already become ubiquitous, offering millions of people an easy way to store and spend their money via mobile phone. Indonesia, Vietnam and the Philippines are also among the world’s biggest under-banked countries; together they have almost half a billion people.

Is Hong Kong short of banks?

No, but the city is among the most cash-reliant major economies, leaving room for newcomers to disrupt the entrenched industry. Ant Financial, an Alibaba Group Holding affiliate that runs Alipay and MYBank, and Tencent Holdings, the company behind WeBank and WeChat Pay, are among the owners of the eight ventures licensed to create virtual banks in Hong Kong, with operations expected to start as early as the end of the year.