The coronavirus pandemic caused havoc on the cultural and sporting calendar this year. Here's how several prominent local, regional and international events plan to get back up and running in 2021
Abu Dhabi T10
The fourth season of the 10-over cricket tournament was scheduled to run in November. It might reasonably have gone ahead, were it not for significant rejigs to cricket's calendar elsewhere, including the IPL and the PSL. As such, the organisers took the decision to reschedule to January 28 to February 6, 2021.
Academy Awards
While the 2020 Academy Awards went ahead unscathed, the same isn't true for next year's ceremony. Postponed from its usual February date, the ceremony is now slated to take place on Sunday, April 25, and will be held as a traditional in-person telecast. The postponement has also pushed the deadline for filmmakers to submit their films to February 28.
Art Dubai
One of the UAE's top art events of the year, Art Dubai was caught in the first wave of cancelled events in 2020, with its 14th event slated for mid-March. This month, Art Dubai announced its programme for the 2021 event, which will be one of the first in-person fairs to be held since the pandemic began. Around 86 galleries are already on the list to display works, and fair organisers plan to scatter activities across Dubai's art spaces.
Cannes Film Festival
Organisers announced in March that the film festival would be postponed, before cancelling the 2020 festival all together. The next Cannes is scheduled to take place in May 2021. Organisers have said they intend the festival to run as planned, although there is a chance that it will be staged later in the summer.
Dubai Rugby Sevens
The Emirates Airline Dubai Rugby Sevens was cancelled for the first time in its 51-year history in 2020. It was announced in July that the first two legs of the World Sevens Series, in Dubai and Cape Town, would not go ahead. Plans for a local invitational tournament were also later scuppered. The event is expected to return at the end of 2021. “We look forward to welcoming the world of rugby sevens back to The Sevens Stadium in Dubai,” Tom Burwell, the tournament director, said.
Euro 2020
The 16th football European Championship, commonly known as Euro 2020, was originally scheduled to take place from June 12-July 12, 2020, across 12 cities on the continent. In June it was agreed to restage the tournament the following year, to be held from June 11-July 11, 2021, while still being called Euro 2020. Rome's Stadio Olimpico will host the opening match, while Wembley, England's national stadium, will stage both semi-finals and the final.
Expo 2020 Dubai
Perhaps the most anticipated event of this year across the Emirates was Expo 2020 Dubai. Four years in the making, Dubai was well on track to deliver a spectacular six-month international event. Once it became clear it would not be safe to host the event, the expo was postponed until October 2021. More than 190 countries are still due to take part with Dubai preparing to welcome millions of visitors.
Organisers said the postponement would only strengthen the event.
“I assure you that the UAE is absolutely ready to deliver a world-class event whatever the size of our physical and online audience," said Reem Al Hashimy, Minister of State for International Co-operation and director general of Expo 2020 Dubai Bureau. “After all see, how far we have come ... since Covid-19 became recognised as a global pandemic."
Expo 2020 Dubai will be held at the Dubai South site from October 1, 2021 to March 31, 2022.
Glastonbury
In early March 2020, festival organisers made the decision to pull the plug on its milestone 50th anniversary celebrations, which were due to take place between June 25 and 29 and feature a bumper bill of more than 1,000 acts. Glastonbury's cancellation was a bellwether for the decimated live music industry, which saw other key events such as Coachella and the Montreux Jazz Festival called off in April and June respectively. It is not yet clear whether the June 2021 festival will go ahead as planned.
International Defence Exhibition and Conference, Idex
From armoured vehicles to reconnaissance drones, the International Defence Exhibition and Conference (Idex) is where billions of dirhams worth of contracts for military technologies are signed. More than 1,300 exhibitors are due to take part in next year's event, which will be held partly online and with safety measures in place. It will be staged from February 21 to 25 at Abu Dhabi National Exhibition Centre.
Met Gala 2021
Every year, fashion history is made on the sweeping stairs of New York's Metropolitan Museum of Art. Organised by Anna Wintour, the annual Met Gala takes place on the first Monday of May, and sees the world’s most stylish celebrities converge for a fundraising event. Originally scheduled to take place on Monday, May 4, the Met Gala 2020 was postponed indefinitely on March 16, due to increasing public health concerns over the spread of Covid-19, and then cancelled in May. Met Gala 2021 is scheduled for May 3, but a theme has yet to be confirmed.
Ryder Cup
With the sporting calendar thrown into disarray, in April it was announced that golf's Ryder Cup would remain in its September 25-27 berth. From there, debate raged as to whether the 43rd edition of the biennial tournament, to take place at Whistling Straits in Wisconsin, should go ahead even without fans in attendance. Eventually, it was pushed back in June to September 24-26, 2021.
T20 World Cup
Men’s cricket will have three World Cups in the space of three years from 2021 to 2023. The decision was taken in July to postpone the 2020 T20 World Cup, which had been scheduled to be played in October and November in Australia. The 2021 version will go ahead in India, as was planned, with the 20-over event returning a year later to Australia. The following year, the 50-over World Cup will take place, also in India.
Tokyo Olympics
The 2020 Olympic Games in Tokyo were postponed for a year as the pandemic took grip, and are now scheduled to run from Friday, July 21, to Sunday, August 8. Discussions are ongoing about whether spectators will be allowed to attend.
Organisers will spend $900 million on measures to stop the spread of the virus, and John Coates, vice-president of the International Olympic Committee, is calling them the "Games that conquered Covid". The IOC maintained they will not delay the Games beyond 2021.
Venice Biennale
The schedules for the Venice Architecture Biennale and the revered art exhibition were postponed to 2021 and 2022 respectively due to the pandemic. Meant to open in May this year, the architecture exhibition was first rescheduled to August. As the Covid-19 situation in Italy and around the world worsened in the subsequent months, however, the organisation behind the shows decided to push both international events by a year. The 17th International Architecture Exhibition will now take place in May 2021, while the 59th International Art Exhibition is scheduled for April 2022.
Wimbledon
For the first time since the Second World War, the Wimbledon Championships were cancelled during a professional tennis season that was severely disrupted, with the sport going into shutdown between March and the end of August. Financially, though, Wimbledon did not suffer too significantly, having paid pandemic insurance for the past 17 years and reportedly received a payout of approximately $141 million. It was the only one of the four majors to take out such protection. The Championships will be back in 2021 in its usual end of June slot.
World Government Summit
This year's World Government Summit was set to take place in Dubai in November, during Expo. It was due to be the largest gathering yet with more than 10,000 high-profile officials and hundreds of experts and scholars expected to attend. When the Expo was postponed, the summit was moved online and held in December. The dates for next year's event have yet to be announced and organisers are still to decide if it will be held virtually or in-person. Typically held in the final few months of the year, and with vaccination programmes under way across several countries, it is likely the summit will have a physical presence next year.
___________
Year in review
80 stars we lost in 2020
Women of the year: female forces that shaped 2020
The National's international stories of 2020
AUSTRALIA SQUAD
Tim Paine (captain), Sean Abbott, Pat Cummins, Cameron Green, Marcus Harris, Josh Hazlewood, Travis Head, Moises Henriques, Marnus Labuschagne, Nathan Lyon, Michael Neser, James Pattinson, Will Pucovski, Steve Smith, Mitchell Starc, Mitchell Swepson, Matthew Wade, David Warner
Checks continue
A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.
Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.
Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
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.
Meydan race card
6.30pm: Maiden Dh 165,000 1,600m
7.05pm: Handicap Dh 185,000 2,000m
7.40pm: Maiden Dh 165,000 1,600m
8.15pm: Handicap Dh 190,000 1,400m
8.50pm: Handicap Dh 175,000 1,600m
9.25pm: Handicap Dh 175,000 1,200m
10pm: Handicap Dh 165,000 1,600m
MATCH INFO
Manchester United 6 (McTominay 2', 3'; Fernandes 20', 70' pen; Lindelof 37'; James 65')
Leeds United 2 (Cooper 41'; Dallas 73')
Man of the match: Scott McTominay (Manchester United)
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
England v South Africa Test series:
First Test: at Lord's, England won by 211 runs
Second Test: at Trent Bridge, South Africa won by 340 runs
Third Test: at The Oval, July 27-31
Fourth Test: at Old Trafford, August 4-8
Company%20profile
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The biog
Favourite food: Fish and seafood
Favourite hobby: Socialising with friends
Favourite quote: You only get out what you put in!
Favourite country to visit: Italy
Favourite film: Lock Stock and Two Smoking Barrels.
Family: We all have one!
The specs
Engine: 5.0-litre supercharged V8
Transmission: Eight-speed auto
Power: 575bhp
Torque: 700Nm
Price: Dh554,000
On sale: now
The specs: 2018 Maxus T60
Price, base / as tested: Dh48,000
Engine: 2.4-litre four-cylinder
Power: 136hp @ 1,600rpm
Torque: 360Nm @ 1,600 rpm
Transmission: Five-speed manual
Fuel consumption, combined: 9.1L / 100km
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
Read more about the coronavirus
The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
WHAT%20MACRO%20FACTORS%20ARE%20IMPACTING%20META%20TECH%20MARKETS%3F
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UAE%20SQUAD
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Company%20profile
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Zayed Sustainability Prize
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
UAE currency: the story behind the money in your pockets
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
The%20specs
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Honeymoonish
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More on Quran memorisation:
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Dengue%20fever%20symptoms
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If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).
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
Company%20profile
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Jurassic%20Park
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Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The five pillars of Islam
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
THE SPECS
Engine: 3.5-litre V6
Transmission: six-speed manual
Power: 325bhp
Torque: 370Nm
Speed: 0-100km/h 3.9 seconds
Price: Dh230,000
On sale: now
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5