Sheikh Mohammed bin Rashid and Sheikh Mohamed bin Zayed attend royal wedding virtually


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Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, delivered good wishes to a newlywed royal couple through video conferencing on Tuesday.

They each congratulated Sheikh Sultan bin Khalifa, adviser to the UAE President, and Sheikh Tahnoun bin Zayed, national security adviser, on the marriage of their son and daughter, respectively.

"During my video participation in the Al Nahyan wedding, I congratulated Sheikh Tahnoun bin Zayed and Sheikh Sultan bin Khalifa. May God bring them joy, bless their children and perpetuate goodness and happiness on the people of the Emirates," Sheikh Mohammed bin Rashid said on Twitter.

Sheikh Mohammed also offered his well-wishes and shared a series of pictures from the event.

"My warmest congratulations go to Sheikh Mohammed bin Sultan bin Khalifa and Sheikha Fatima bint Tahnoun bin Zayed on their blessed marriage," said Sheikh Mohamed bin Zayed.

"I was pleased to communicate with the newlyweds and their family through video conferencing. I wish them joy and good fortune."

Sheikh Mohamed bin Zayed was accompanied by his son, Sheikh Theyab bin Mohamed, chairman of the Abu Dhabi Crown Prince’s Court.

Setting an example for the public, the pair delivered their wishes through a video call to avoid large gatherings due to the Covid-19 outbreak.

"Protecting the UAE during these challenging times is a shared responsibility. Following precautionary measures during our social events guarantees our safety as a society, and supports our country's efforts in combating Covid-19," Sheikh Mohamed bin Zayed said.

Restrictions on gatherings remain tight in Abu Dhabi with authorities saying formal wedding ceremonies in the capital cannot exceed 10 guests.

Abu Dhabi Public Health Centre also recommends that guests take a Covid-19 test 24 hours before the event to ensure the safety of those attending.

Face masks must be worn at all times and disposable cutlery and utensils must be used if food and drinks are served.

In Dubai, weddings of up to 200 people have been permitted but similar strict safety measures remain in place.

Guests should avoid shaking hands, kissing or hugging and instead employ "non-physical greetings".

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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.

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