St Mary’s Church in Oud Metha, Dubai, is asking worshippers to register online before attending services. Pawan Singh / The National
St Mary’s Church in Oud Metha, Dubai, is asking worshippers to register online before attending services. Pawan Singh / The National
St Mary’s Church in Oud Metha, Dubai, is asking worshippers to register online before attending services. Pawan Singh / The National
St Mary’s Church in Oud Metha, Dubai, is asking worshippers to register online before attending services. Pawan Singh / The National

St Mary's Church in Dubai to reopen on Monday


Salam Al Amir
  • English
  • Arabic

St Mary’s Catholic Church in the Oud Metha district of Dubai will reopen on Monday, operating at 30 per cent capacity.

The announcement was made on the church website more than 10 months after it closed its doors to curb the spread of Covid-19.

Daily in-person services have been scheduled, at 6.30am and 7pm, and the church will remain closed at all other times, parish priest Fr Lennie Connully said.

“We have received permission from [the Community Development Authority] to reopen our church for Holy Mass with some conditions and guidelines,” he said.

We hope more concessions from the authorities will follow when we conduct ourselves well and prove our efficiency in crowd management

“We are allowed to have two Masses.

“Senior citizens above 60 years old and children below 12 years are discouraged from attending.”

Both services will be live-streamed for members who are unable to attend in person.

Worshippers must register online to reserve their spot and must receive confirmation from the church before arriving at the venue.

Those registered for Mass were also advised to report to the church 30 minutes before service through gate two for thermal scanning.

Worshippers must have the Al Hosn application on their mobile phones.

They must also wear face masks and gloves throughout the service, after which they must leave immediately through gate one or three.

Seats will be placed two metres apart to ensure physical distancing is maintained.

Volunteers will be on site to help people and remind them of the health and safety rules.

Holy communion will not be distributed during the Mass and visiting or veneration at the grotto or other areas of the church or its compound, before or after the Mass, will be prohibited.

The canteen and toilets will remain closed, and eating and drinking within the church premises is strictly prohibited.

How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.

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.

Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press

Points tally

1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3

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