Spring forward, fall back no more?
Dozens of countries around the world move their clocks and watches forward by one hour in mid or late March, reversing a change made six months before, in late October or early November.
Not everyone loves daylight savings time — particularly when clocks go forward in March and 60 minutes of sleep are suddenly lost.
Some studies have even suggested it results in an increased number of heart attacks, traffic accidents, workplace injuries and crime.
About 60 per cent of countries do not change their clocks. More than 70 observe the practice, but many are now considering scrapping it.
So why have some countries stopped it? And why do so many do it in the first place?
Why have daylight savings time?
The idea of moving the clock forward one hour from standard time is to give people more daylight during summer evenings and more light during winter mornings when clocks go back.
It is said that many countries adopted the practice during the First World War as a way to conserve coal.
In 1916, Germany became the first country to begin the practice, with the US and much of Europe soon following.
When does it start and end?
In the UK and mainland Europe, daylight savings time for 2023 will begin at 1am on Sunday, March 26, and end at 2am on Sunday, October 29.
In the US and Canada, the change was made on Sunday March 12 and the clocks will go back again on Sunday November 5.
The Middle East countries that follow the practice have various start dates in February and March and switch back in September or October, although Lebanon made a surprise decision to postpone the start of daylight savings time this year to April 20.
Which countries have abolished the changes?
Dozens of countries abolished the practice after observing it for many years, including Egypt, Sudan, Syria, Iran, Iraq, Turkey, Armenia, Azerbaijan, Argentina, Brazil and Russia. However, Egypt decided this month to restore daylight savings time after nearly a decade.
Clocks in Saudi Arabia, the UAE, Bahrain, Kuwait, Oman, Qatar and Yemen are also not changed, along with India, China and Japan.
These countries will now be joined by Jordan after authorities scrapped the measure late last year.
Summertime, or daylight savings time, will now be “all year”, an official statement said, meaning Jordan will now remain at GMT+3.
Which countries could get rid of it?
In the US, the Sunshine Protection Act has been proposed to make daylight savings time permanent, removing the need to change clocks twice a year.
The bill was passed unanimously by the Senate on March 15 last year, but was never brought up for a vote in the House of Representatives. Senator Marco Rubio has reintroduced the bill in the Senate and House this year.
Several US states have attempted to end daylight savings, although few have actually done so.
A 2022 bill to exempt Virginia said the “overwhelming conclusion” of researchers is that it “directly results” in an increase in heart attacks, traffic accidents, workplace injuries, pedestrian deaths and crime, as well as sleep disruption and a loss of productivity.
It said research has also found a link to seasonal affective disorder, strokes and cardiac arrest.
A Time Amendment Act is also picking up steam in Canada to make daylight savings time permanent.
The European Union, too, wants to get rid of daylight savings time.
In March 2019, the European Parliament voted to dispense entirely with biannual clock changes.
The change was supposed to be enacted following agreement from the European Council — but the body asked the European Commission, the EU’s executive arm, to conduct an impact assessment first, Bloomberg reported. The issue remains in deadlock.
The UK has no plans to give up what it calls British Summer Time, despite a YouGov poll finding that those opposed outnumber those in favour by 40 to 33 per cent.
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Company: Eighty6
Date started: October 2021
Founders: Abdul Kader Saadi and Anwar Nusseibeh
Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
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8.25pm: Handicap Dh185,000 (D) 1,200m; Winner: Mayadeen, Connor Beasley, Doug Watson.
9pm: Handicap Dh185,000 (T) 1,600m; Winner: Chiefdom, Mickael Barzalona, Salem bin Ghadayer
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
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Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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The biog
Hometown: Birchgrove, Sydney Australia
Age: 59
Favourite TV series: Outlander Netflix series
Favourite place in the UAE: Sheikh Zayed Grand Mosque / desert / Louvre Abu Dhabi
Favourite book: Father of our Nation: Collected Quotes of Sheikh Zayed bin Sultan Al Nahyan
Thing you will miss most about the UAE: My friends and family, Formula 1, having Friday's off, desert adventures, and Arabic culture and people
Heavily-sugared soft drinks slip through the tax net
Some popular drinks with high levels of sugar and caffeine have slipped through the fizz drink tax loophole, as they are not carbonated or classed as an energy drink.
Arizona Iced Tea with lemon is one of those beverages, with one 240 millilitre serving offering up 23 grams of sugar - about six teaspoons.
A 680ml can of Arizona Iced Tea costs just Dh6.
Most sports drinks sold in supermarkets were found to contain, on average, five teaspoons of sugar in a 500ml bottle.
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Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
Australia men's Test cricket fixtures 2021/22
One-off Test v Afghanistan:
Nov 27-Dec 1: Blundstone Arena, Hobart
The Ashes v England:
Dec 8-12: 1st Test, Gabba, Brisbane
Dec 16-20: 2nd Test, Adelaide Oval, Adelaide (day/night)
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What is the Supreme Petroleum Council?
The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.
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2 Kuwaiti teams
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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.”
MO
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Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
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