Theresa May, U.K.'s prime minister, takes a question from journalists during speech in Belfast, Northern Ireland, on Friday, July 20, 2018. Avoiding customs checks at the border with Ireland is the most critical issue that’s holding up Brexit negotiations between the EU and U.K. as May has spent months trying to coax her divided cabinet, the House of Commons and peers into unifying behind proposals to keep the border open. Photographer: Aidan Crawley/Bloomberg
UK Prime Minister Theresa May is frustrated by the northern Ireland border issue holding up Brexit negiotiations. Bloomberg

UK's May demands new deal from EU on Irish border backstop



British Prime Minister Theresa May on Friday called on the European Union to strike a new deal to prevent a hard border in Northern Ireland and demanded Brussels quickly respond to her 'white paper' plan to avoid a damaging no-deal Brexit.

In a speech to politicians and business leaders in Belfast's docklands, Ms May accepted a hard border between Northern Ireland and the Irish Republic once Britain leaves the bloc would be "almost inconceivable", but dismissed the EU's current plan as "unworkable."

Instead, Ms May said the EU must engage with her Brexit 'white paper' policy document released earlier this month, which proposes negotiating the closest possible links for trade in goods to protect businesses and to fulfil a commitment to avoid having infrastructure on the border.

It is "now for the EU to respond. Not simply to fall back onto previous positions which have already been proven unworkable. But to evolve their position in kind," Ms May told the audience at Belfast’s Waterfront Hall.

Still reeling after her Brexit plan triggered the resignation of senior members of her cabinet, Ms May flew to Northern Ireland on Thursday for a two-day visit to see up close the troubled British region's frontier with EU-member Ireland.

The 500-kilometre border has become one of the biggest stumbling blocks in the negotiations. It has been largely invisible since army checkpoints were taken down after a 1998 peace deal ended three decades of violence between the region's pro-British majority and an Irish nationalist minority. Over 3,600 died.

Ms May in December agreed in principle to a binding "backstop" to ensure a soft border irrespective of future EU-UK ties, but later balked at an EU proposal to achieve this by treating Northern Ireland as a separate customs area to the rest of the United Kingdom.

Her Conservative Party and Democratic Unionist Party allies in parliament have angrily objected to arrangements that would create any kind of border between Northern Ireland and the rest of the United Kingdom.

"The economic and constitutional dislocation of a formal 'third country' customs border within our own country is something I will never accept and I believe no British Prime Minister could ever accept," Ms May said.

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The Irish government, which has said it has concerns about Ms May's white paper, on Friday said a backstop was essential, but could be renegotiated.

"The only thing that could replace this current form of a backstop is: Number one, something which is better; number two something which is agreed; and number three something that would be legally operable," Finance Minister Paschal Donohoe told RTE radio.

The EU has warned business to get ready for Britain crashing out of the bloc without agreed terms, although officials and diplomats still think some kind of deal is more likely than not, if only because the cost for both sides would be so high.

While Ms May is trying to convince Brussels to make concessions on Northern Ireland, she is also trying to shore up support in her Conservative Party after her white paper proposals sparked cabinet level resignations last week.

After quitting, former Foreign Secretary Boris Johnson singled out her treatment of the border as the biggest mistake of her negotiations with the EU for a smooth exit from the bloc next year and risked leaving Britain in a "miserable, permanent limbo".

In her speech Ms May hit back, dismissing Mr Johnson's suggestion that technology could allow customs checks without physical infrastructure, saying such systems did not yet exist.

Who is Tim-Berners Lee?

Sir Tim Berners-Lee was born in London in a household of mathematicians and computer scientists. Both his mother, Mary Lee, and father, Conway, were early computer scientists who worked on the Ferranti 1 - the world's first commercially-available, general purpose digital computer. Sir Tim studied Physics at the University of Oxford and held a series of roles developing code and building software before moving to Switzerland to work for Cern, the European Particle Physics laboratory. He developed the worldwide web code as a side project in 1989 as a global information-sharing system. After releasing the first web code in 1991, Cern made it open and free for all to use. Sir Tim now campaigns for initiatives to make sure the web remains open and accessible to all.

Sweet Tooth

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

Kill

Director: Nikhil Nagesh Bhat

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

Rating: 4.5/5

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

JOKE'S ON YOU

Google wasn't new to busting out April Fool's jokes: before the Gmail "prank", it tricked users with mind-reading MentalPlex responses and said well-fed pigeons were running its search engine operations .

In subsequent years, they announced home internet services through your toilet with its "patented GFlush system", made us believe the Moon's surface was made of cheese and unveiled a dating service in which they called founders Sergey Brin and Larry Page "Stanford PhD wannabes ".

But Gmail was all too real, purportedly inspired by one – a single – Google user complaining about the "poor quality of existing email services" and born "millions of M&Ms later".

The five pillars of Islam
Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

Famous left-handers

- Marie Curie

- Jimi Hendrix

- Leonardo Di Vinci

- David Bowie

- Paul McCartney

- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

SPECS

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

INDIA'S TOP INFLUENCERS

Bhuvan Bam
Instagram followers: 16.1 million
Bhuvan Bam is a 29-year-old comedian and actor from Delhi, who started out with YouTube channel, “BB Ki Vines” in 2015, which propelled the social media star into the limelight and made him sought-after among brands.
Kusha Kapila
Instagram followers: 3.1 million
Kusha Kapila is a fashion editor and actress, who has collaborated with brands including Google. She focuses on sharing light-hearted content and insights into her life as a rising celebrity.
Diipa Khosla
Instagram followers: 1.8 million
Diipa Khosla started out as a social media manager before branching out to become one of India's biggest fashion influencers, with collaborations including MAC Cosmetics.
Komal Pandey
Instagram followers: 1.8 million
Komal Pandey is a fashion influencer who has partnered with more than 100 brands, including Olay and smartphone brand Vivo India.
Nikhil Sharma
Instagram followers: 1.4 million
Nikhil Sharma from Mumbai began his online career through vlogs about his motorcycle trips. He has become a lifestyle influencer and has created his own clothing line.
Source: Hireinfluence, various

Our House, Louise Candlish,
Simon & Schuster

ICC Awards for 2021+

MEN

Cricketer of the Year+– Shaheen Afridi+(Pakistan)

T20 Cricketer of the Year+– Mohammad Rizwan+(Pakistan)

ODI Cricketer of the Year+– Babar Azam+(Pakistan)

Test Cricketer of the Year+– Joe Root+(England)

WOMEN

Cricketer of the Year+– Smriti Mandhana+(India)

ODI Cricketer of the Year+– Lizelle Lee+(South Africa)

T20 Cricketer of the Year+– Tammy Beaumont+(England)

The Specs

Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now

How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

Company profile

Name: Maly Tech
Started: 2023
Founder: Mo Ibrahim
Based: Dubai International Financial Centre
Sector: FinTech
Funds raised: $1.6 million
Current number of staff: 15
Investment stage: Pre-seed, planning first seed round
Investors: GCC-based angel investors

Barbie

Director: Greta Gerwig
Stars: Margot Robbie, Ryan Gosling, Will Ferrell, America Ferrera
Rating: 4/5

FIGHT CARD

Featherweight 4 rounds:
Yousuf Ali (2-0-0) (win-loss-draw) v Alex Semugenyi (0-1-0)
Welterweight 6 rounds:
Benyamin Moradzadeh (0-0-0) v Rohit Chaudhary (4-0-2)
Heavyweight 4 rounds:
Youssef Karrar (1-0-0) v Muhammad Muzeei (0-0-0)
Welterweight 6 rounds:
Marwan Mohamad Madboly (2-0-0) v Sheldon Schultz (4-4-0)
Super featherweight 8 rounds:
Bishara Sabbar (6-0-0) v Mohammed Azahar (8-5-1)
Cruiseweight 8 rounds:
Mohammed Bekdash (25-0-0) v Musa N’tege (8-4-0)
Super flyweight 10 rounds:
Sultan Al Nuaimi (9-0-0) v Jemsi Kibazange (18-6-2)
Lightweight 10 rounds:
Bader Samreen (8-0-0) v Jose Paez Gonzales (16-2-2-)

States of Passion by Nihad Sirees,
Pushkin Press

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5


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