Girls attend class in Aybaito, in Ethiopia’s Afar region. A flea market in Abu Dhabi on Wednesday night, being held as part of the Road To Awareness charity initiative, aims to fund the education of 50,000 youngsters in the country.
Girls attend class in Aybaito, in Ethiopia’s Afar region. A flea market in Abu Dhabi on Wednesday night, being held as part of the Road To Awareness charity initiative, aims to fund the education of 50,000 youngsters in the country.
Girls attend class in Aybaito, in Ethiopia’s Afar region. A flea market in Abu Dhabi on Wednesday night, being held as part of the Road To Awareness charity initiative, aims to fund the education of 50,000 youngsters in the country.
Girls attend class in Aybaito, in Ethiopia’s Afar region. A flea market in Abu Dhabi on Wednesday night, being held as part of the Road To Awareness charity initiative, aims to fund the education of 5

Night flea market will raise funds for Ethiopian children


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ABU DHABI // Residents are being asked to help send 50,000 Ethiopian children to school by buying second-hand items at a flea market.

Wednesday night’s indoor event, at the Sheraton Abu Dhabi Hotel and Resort on the Corniche from 6pm, will have 97 tables offering bargain clothing, accessories, small furniture, children’s clothes and toys.

The event is part of Unicef’s Road to Awareness 2012 charity initiative, in association with the Sheraton’s parent group, Starwood Hotels and Resort Middle East.

They aim to raise enough money to send 50,000 children to primary school in Ethiopia. The Sheraton has raised more than Dh100,000 through table fees for five markets, including today’s event, said Martina Venus, the hotel’s public relations director.

The proceeds have gone to local and overseas charities.

Exhibitors at the market include the Make a Wish Foundation, Operation Smile UAE, Glorious Orphanage in Tanzania and a charity for abandoned pets in Abu Dhabi. Booking a table costs Dh250 but admission is free.

The hotel started hosting flea markets in September last year, with a second event in December.

“Although we were not sure whether a flea market could work indoors in a five-star hotel environment in a city where you only have bazaars, we decided to give it a try,” Ms Venus said. “We managed to educate the public on the idea of a second-hand market versus a handicraft bazaar.”

Emirati women will sell dresses, shoes and bags alongside expatriates offering clothes, household goods and electronics.

Two other flea markets were held in March and May. Proceeds from the former went to Operation Smile UAE, which provides free surgery to children with cleft palates, while funds from the latter bought basic items for 85 orphans in Arusha, Tanzania.

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

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.

Bloomberg

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

FFP EXPLAINED

What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate? 
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties? 
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

How to turn your property into a holiday home
  1. Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
  2. Research equivalent Airbnb homes in your location to ensure competitiveness.
  3. Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
  4. Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
  5. Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
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if you go

The flights

Air France offer flights from Dubai and Abu Dhabi to Cayenne, connecting in Paris from Dh7,300.

The tour

Cox & Kings (coxandkings.com) has a 14-night Hidden Guianas tour of Guyana, Suriname and French Guiana. It includes accommodation, domestic flights, transfers, a local tour manager and guided sightseeing. Contact for price.

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

UAE currency: the story behind the money in your pockets
The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5