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Resurgent Nadal to enthrall fans in Abu Dhabi
Resurgent Nadal to enthrall fans in Abu Dhabi 25 September 2013 Rafael Nadal will return to Abu Dhabi for a fifth year at the Mubadala World Tennis Championship from December 26-28, a Press release said. The top three players in the world are now confirmed to battle it out in Abu Dhabi as Nadal joins world number one Novak Djokovic and world number three Andy Murray in what is already a world-class player line up, with three players still to be announced. Having fought his way back into the world top three in ruthless fashion only last month after a 2012 season plagued with injury, Nadal cemented his return to the top of the game with a stunning victory over Novak Djokovic in the last Grand Slam of the year. Nadal overpowered the Serb in four sets to remain unbeaten on hard court in a year which has seen him win 60 of 64 matches and lift 10 titles, two of them majors. Reigning US Open and French Open Champion, Nadal commented: “I’ve been working hard all season and to have won two Grand Slams this year is an amazing feeling. I’m playing good tennis and I’m looking forward to seeing what the rest of the season will bring.” Forced to withdraw from the 2012 Mubadala World Tennis Championship after his long awaited return to action, the sensational Spaniard has since rediscovered his form in frightening fashion. In June 2013 the King of Clay reigned supreme in Paris to become the only man to have won a Grand Slam tournament a record eight times. Nadal has been equally impressive with his unbeaten run on hard-courts proving to his UAE fans he’s back to his best, claiming ATP World Tour Masters 1000 titles in Montreal and Cincinnati to go with his US Open win. The in-form and fit two-time Mubadala World Tennis Championship champion will be looking to lift the trophy once again at the Zayed Sports City Tennis Centre come December. A victory in Abu Dhabi will send a message to the world as Nadal prepares to start his 2014 campaign at the Australian Open, the season opener and first grand slam of the season. Nadal added: “After the disappointment of last year I promised my fans in the UAE I would return, so I’m very happy it’s happening so soon and I’m back in the player line-up. This will be my fifth time playing in Abu Dhabi and I’m looking forward to getting back on court there later this year. It’s a great opportunity to test myself, especially just before the start of the new season. The stage is set for an epic battle at the top of men’s tennis as all three previous champions have now confirmed their spot at the Mubadala World Tennis Championship. Novak Djokovic has held onto the Mubadala World Tennis Championship crown for the last two years and will be aiming for his third straight win at the tournament in December. The annual tournament, which sees six of the world’s top players battle it out across three days of explosive tennis at the Abu Dhabi International Tennis Centre at Zayed Sports City, will take place from December 26 to 28. Tickets are on sale from www.ticketmaster.ae and 800 TM UAE (86 823) with prices starting from Dh50. For more information, visit: www.mubadalawtc.com Continue reading
Dubai well-positioned to pay off $20b debt: Ahmed
Dubai well-positioned to pay off $20b debt: Ahmed Staff Report / 25 September 2013 Dubai is not in negotiations with Abu Dhabi to refinance a $20 billion debt that will be due next year, a top government official said on Tuesday. Dubai borrowed a total of $20 billion from Abu Dhabi and the Federal Government of the UAE when the financial crisis hit across the globe in 2009. The debt comprises $10 billion from the UAE Central Bank, which is due to mature in February 2014 and $5 billion each from two state-owned banks in Abu Dhabi — National Bank of Abu Dhabi and Al Hilal Bank — maturing in November 2014. “Dubai companies are doing well and can take care of their own debt,” Shaikh Ahmed bin Saeed Al Maktoum, chairman of Dubai’s Supreme Fiscal Committee, told reporters on the sidelines of the sail-away ceremony to mark the commencement of the delivery of the pioneering Prelude FLNG Turret Modules to owner Shell. According to government forecasts, Dubai’s economy is recovering fast and set to expand 4.6 per cent, on average, between 2012 and 2015, more than twice the growth of the previous four years. The borrowed money was mainly used to support debt restructuring of Dubai World and property developer Nakheel, the builder of the palm-shaped islands. “No, we are not talking to Abu Dhabi,” Shaikh Ahmed, who is also President of the Dubai Civil Aviation Authority, Chairman of Emirates airline and Chief Executive of the Emirates Group, responded to a question if both emirates are holding discussion to roll over the debt. He did not elaborate further. Property market Dubai’s growing population, improving economy and its status as a safe haven amid political and economic unrest in other parts of the Middle East have helped boost apartment prices by 38 per cent in the past 12 months, according to Standard Chartered Bank. Dubai’s government is working on new rules to protect its real estate market and prevent any excessive rise of property prices that could end in a crash, Shaikh Ahmad said. The bursting of the property bubble in 2009-10 caused prices to plunge by more than 50 per cent. “We didn’t create the bubble, it was a global crisis. The real estate challenge is over now,” he said. “We are working on our regulations. Sometimes I don’t see that [high property prices] are a good thing. We don’t want Dubai to become an expensive city,” he added. He did not give details of the proposed regulations. In a July report, the IMF said Dubai might need to intervene in its property market to prevent another boom-and-bust cycle. Last year, the UAE Central Bank tried to introduce caps on home mortgage lending as a way to head off another bubble, but it suspended them after lobbying by commercial banks, which complained their business would suffer. The central bank is now negotiating revised caps with the banks, which are expected to be announced by the end of this year. With inputs from agencies abdulbasit@khaleejtimes.com Continue reading
President orders honouring of UAE football team
President orders honouring of UAE football team (Wam) / 24 September 2013 The President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, has instructed honouring of the UAE national football team for winning the 10th GCC U-17 Championship, which Qatari capital, Doha, hosted from September 3-12, 2013. The President’s gesture recognises the sports achievements of the UAE innovators who raise the UAE’s flag high at international sports events. The UAE Football Association (UAEFA) paid gratitude to the President for his generous grant to the sportsmen and for his incessant support for the sports sector. Chairman of the UAEFA Yousuf Al Serkal affirmed that his organisation would do what in its power to make more achievements for the betterment of the UAE. The UAE team won the championship for the fourth time. Its previous triumphs were in 2006, 2009 and 2010. Continue reading
