ATTEND the lecture Contributions to the Protection and Enhancement of the Marine Environment of Abu Dhabi, organised by the Emirates Natural History Group. Karim Alaa and Mohamed Kamel will present personal experiences and will discuss a variety of topics, including the Zirku island artificial coral reef and the story of the north-east Bab mangrove project. From 7.30pm to 9.30pm, free entry, Salon 1, Park Hyatt Abu Dhabi, Saadiyat Island, Abu Dhabi, www.enhg.org
SAVOUR Japanese delights at For the Sake of Sushi at Toko Dubai. Enjoy a generous assortment of colourful maki, sushi and nigiri made of the highest-quality ingredients sourced from Japan, including salmon, tuna and kingfish. From 7pm to 9pm, from Dh225, Vida Downtown, Downtown Dubai, 04 442 8383, www.toko-dubai.com
ENJOY live saxophone music by Vladimir Ossipenko, who plays both solo and accompanied by a vocalist in a cosy lounge atmosphere. Get 50 per cent off on all varieties of mussel pots on Tuesday nights. From 7.30pm to 10.30pm, Bapas, The H Dubai, Sheikh Zayed Road near Dubai World Trade Centre metro station, reservations at 04 385 8881, www.bapas-online.com
REGISTER for the conference Education and Educators: Creating a Culture of Excellence in the Classroom, which seeks to identify ways to improve teacher performances at UAE primary and secondary schools. On September 23 and 24, 10am to 3pm on Tuesday; 10am to 2pm on Wednesday, free, ECSSR, Muroor Road between 15th and 19th streets, Abu Dhabi, 02 404 4421, register at confdept@ecssr.com
ATTEND an information session with the Gulf for Good organisation and learn about the adventure challenge 2015, plus the charity that will be supported. At 7pm, Adventure HQ, Times Square Center, Dubai, 04 368 0222, g4gassistant@gmail.com
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Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
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
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
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