AYLESBURY, ENGLAND - JANUARY 20: British Prime Minister Theresa May attends a Sunday church service on January 20, 2019 in Aylesbury, England. A group of MPs are expected to present a bill on Monday which could allow Brexit to be delayed if Parliament does not approve an EU withdrawal agreement.  (Photo by Jack Taylor/Getty Images)
Mrs May is due to present Parliament with a revised Brexit plan on Monday. Getty

Theresa May plans next move in Brexit fight as chances rise of delay



As Prime Minister Theresa May prepared her next move in Britain’s deadlocked Brexit battle, a senior opposition politician said on Sunday it was unlikely the UK would leave the European Union on March 29 as scheduled.

A government minister, however, warned that failure to deliver on Brexit would betray voters might unleash a “political tsunami”.

Mrs May is due to present Parliament with a revised Brexit plan on Monday, after the divorce deal she had struck the EU was overwhelmingly rejected by parliamentarians last week.

With just more than two months until Britain is due to leave the bloc, some MPs are pushing for the UK to delay its departure until the country’s divided leaders can agree on a way forward.

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Labour Party Brexit spokesman Keir Starmer said “it’s inevitable” Britain will have to ask the EU to extend the two-year countdown to exit that ends on March 29.

“The 29th of March is 68 days away,” Mr Starmer told the BBC. “We are absolutely not prepared for it. It would be catastrophic.”

Britain’s political impasse over Brexit is fuelling concerns that the country may crash out of the EU on March 29 with no agreement in place to cushion the shock. That could result in tariffs imposed on goods moving between Britain and the EU, and cause logjams at ports and shortages of essential supplies such as medicine. Many economists expect Britain to plunge into recession if there is a no-deal Brexit.

Mrs May’s government is deeply split between ministers who think a disorderly departure must be avoided at all costs, and Brexiteers who believe it would be preferable to delaying or reversing Brexit.

Former Brexit secretary Dominic Raab, who quit the government in opposition to Mrs May’s agreement with the EU, said a no-deal Brexit would have "short-term risks", but they would be “manageable”.

International Trade Secretary Liam Fox wrote in The Sunday Telegraph that "failure to deliver Brexit would produce a yawning gap between Parliament and the people, a schism in our political system with unknowable consequences".

He said public anger could trigger “a political tsunami”.

Mrs May has spent the days since her deal was thrown out meeting government and opposition politicians in an attempt to find a compromise. But the talks have produced few signs that Mrs May plans to make radical changes to her deal, or to soften her insistence that Brexit means leaving the EU’s single market and customs union.

Mr Fox said one possible solution could be to strike a deal with the Irish government guaranteeing there would be no border controls between EU member Ireland and the UK’s Northern Ireland.

He said that could ease concerns about the deal’s most contentious measure – an insurance policy known as the "backstop" that would keep Britain in an EU customs union to maintain an open Irish border after Brexit. Pro-Brexit politicians claim that Britain could be trapped indefinitely in the arrangement, bound to EU trade rules and unable to strike new deals around the world.

Irish Foreign Minister Simon Coveney, however, tweeted that the Irish government was committed to the entire withdrawal deal “including the backstop”.

British politicians who want a softer Brexit are preparing to try to amend Mrs May’s plans in a January 29 debate, and to use parliamentary rules to try to prevent a no-deal crash out of Europe by taking control of the exit process.

Conservative MP Nicky Morgan said she and several opposition colleagues planned to introduce a bill to ensure “that if the prime minister can’t get an agreement approved by the House of Commons by the end of February”, the UK will ask the EU to postpone its departure date “so that we can build a consensus and get ourselves more prepared for Brexit".

Delaying Brexit would require approval from the 27 other EU nations.

Mr Starmer said there was a roadblock in the way of a solution to the Brexit crisis, “and that roadblock is the prime minister”.

“Her mind is closed,” he said.

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

RESULT

Arsenal 0 Chelsea 3
Chelsea: Willian (40'), Batshuayi (42', 49')

BeIN Sports currently has the rights to show

- Champions League

- English Premier League

- Spanish Primera Liga

- Italian, French and Scottish leagues

- Wimbledon and other tennis majors

- Formula One

- Rugby Union - Six Nations and European Cups

BAD BOYS: RIDE OR DIE

Director: Adil El Arbi and Bilall Fallah

Starring: Will Smith, Martin Lawrence, Joe Pantoliano

Rating: 3.5/5

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

TWISTERS

Director: Lee Isaac Chung

Starring: Glenn Powell, Daisy Edgar-Jones, Anthony Ramos

Rating: 2.5/5

MADAME WEB

Director: S.J. Clarkson

Starring: Dakota Johnson, Tahar Rahim, Sydney Sweeney

Rating: 3.5/5

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

MATCH INFO

BRIGHTON 0

MANCHESTER UNITED 3

McTominay 44'

Mata 73'

Pogba 80'

The Equaliser 2

Director Antoine Fuqua

Starring: Denzel Washington, Bill Pullman, Melissa Leo, Ashton Sanders

Three stars

Manchester United's summer dealings

In

Victor Lindelof (Benfica) £30.7 million

Romelu Lukaku (Everton) £75 million

Nemanja Matic (Chelsea) £40 million

Out

Zlatan Ibrahimovic Released

Wayne Rooney (Everton) Free transfer

Adnan Januzaj (Real Sociedad) £9.8 million

The Boy and the Heron

Director: Hayao Miyazaki

Starring: Soma Santoki, Masaki Suda, Ko Shibasaki

Rating: 5/5

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

RESULTS

5pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Purebred Arabian Cup Conditions (PA) Dh 200,000 (Turf) 1,600m
Winner: Hameem, Adrie de Vries (jockey), Abdallah Al Hammadi (trainer)
5.30pm: Sheikha Fatima bint Mubarak Cup Conditions (PA) Dh 200,000 (T) 1,600m
Winner: Winked, Connor Beasley, Abdallah Al Hammadi
6pm: Sheikh Sultan bin Zayed Al Nahyan National Day Cup Listed (TB) Dh 380,000 (T) 1,600m
Winner: Boerhan, Ryan Curatolo, Nicholas Bachalard
6.30pm: Sheikh Sultan bin Zayed Al Nahyan National Day Group 3 (PA) Dh 500,000 (T) 1,600m
Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
7pm: Sheikh Sultan bin Zayed Al Nahyan National Day Jewel Crown Group 1 (PA) Dh 5,000,000 (T) 2,200m
Winner: Messi, Pat Dobbs, Timo Keersmaekers
7.30pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Handicap (PA) Dh 150,000 (T) 1,400m
Winner: Harrab, Ryan Curatolo, Jean de Roualle
8pm: Wathba Stallions Cup Handicap (PA) Dh 100,000 (T) 1,400m
Winner: AF Alareeq, Connor Beasley, Ahmed Al Mehairbi

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The biog

Family: He is the youngest of five brothers, of whom two are dentists. 

Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.

Where he works: Liberty Dental Clinic 

Sweet Tooth

Creator: Jim Mickle
Starring: Christian Convery, Nonso Anozie, Adeel Akhtar, Stefania LaVie Owen
Rating: 2.5/5

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

MATCH INFO

Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')

Man of the match Son Heung-min (Tottenham)

Profile of Bitex UAE

Date of launch: November 2018

Founder: Monark Modi

Based: Business Bay, Dubai

Sector: Financial services

Size: Eight employees

Investors: Self-funded to date with $1m of personal savings


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