UBS buys out Credit Suisse but will it calm the turmoil? UAE’s ‘One Billion Meals’, and Barcelona eyes La Liga title, our editors comment on the top stories of Mar 20
UBS buys out Credit Suisse but will it calm the turmoil? UAE’s ‘One Billion Meals’, and Barcelona eyes La Liga title, our editors comment on the top stories of Mar 20
CAN $3.23 BILLION SOOTHE GLOBAL MARKETS? Swiss bankers and their counterparts elsewhere worked through the weekend to finally nail the Credit Suisse purchase by its longstanding rival UBS. For a not too heavy commitment of $3 billion and then some. Now, has that done enough to cool everything down, not least the fevered minds of investors worldwide? Not from the initial look, with Asian markets sliding significantly and gold rushing back to over $2,000 an ounce, confirming its safe haven credentials. Sure, it could take some time for the UBS deal to filter through markets and investors, but there isn’t much of that valuable commodity left. Can the Federal Reserve step in to some cooling off for the markets? Whatever be the case, it could be an edge-of-the-seat 48 hours or so. (By Manoj Nair, Business Editor)
Image Credit: Reuters
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UAE’S UNCONDITIONAL COMMITMENT TO HUMANITARIAN CAUSES IS COMMENDABLE: The UAE’s commitment to humanitarian causes is exemplary. The launch of the ‘One Billion Meals’ endowment project ahead of Ramadan this year highlights the country’s annual tradition in doing what it can to secure food aid for vulnerable communities. The provision of hundreds of millions of meals to the needy is no mean task, and to do this year after year unconditionally and with an undeterred resolve is all the more commendable. Little wonder then that the UAE is recognised as one of the most giving nations in the world today. (By Sharmila Dhal, UAE Editor).
Image Credit: WAM
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BARCELONA CLOSING IN ON FIRST LA LIGA TITLE SINCE 2018-19: The La Liga title race took a massive twist as leaders Barcelona beat arch rivals Real Madrid 2-1 at the Camp Nou last night. Going into the match Real were nine points behind Barca and knew they had to win to have any chance at all in defending their title. Even a draw would not have been the end of the world for them and for a long period it looked like the El Clasico would end all square but deep into injury time Franck Kessie scored a dramatic late winner. It was his first goal for the Spanish giants, and what a time it was to get it. The win moves Barca 12 points clear at the top and even though both sides have 12 league matches remaining, Xavi’s side are in a very dominant position. They should be celebrating their first title since 2018-19 but Carlo Ancelotti is a serial winner and he will be doing all he can from now until the end of the season to keep Real fighting. It’s a big gap to pull back but as we all know – anything can happen in football. (By Imran Malik, Assistant Sports Editor)
Image Credit: AFP
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SALMAN KHAN’S LIFE THREATENED … AGAIN: Security has been beefed up after Bollywood actor Salman Khan received a fresh round of death threats against him this weekend. Reports have emerged that Khan’s close friend received an email from the alleged gangster Lawrence Bishnoi and his team that Khan’s life is in danger and will remain so unless he apologised to the gangster’s community for hunting and killing blackbucks, considered sacred among them. The actor, who is on trial for killing endangered species of black bucks in 1998, has been instructed to lie low and avoid public events. So the biggest casualty will be the producers of his Eid release ‘Kisi Kai Bhai Kisi Ki Jaan’ because their lead actor cannot fulfil the marketing demands. While we are often told to separate the art from the artist, this is a classic case of the two mingling. It’s unfortunate that the producers and crew have to bear the brunt of their lead actor’s torrid past. His film is likely to be the collateral damage. (By Manjusha Radhakrishnan, Entertainment Editor)
Image Credit: Insta/beingsalmankhan
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