From the Editors: Bike rides keep Dubai residents fit

Dubai Bike Ride keeps residents fit: Sheikh Zayed Road turned into a veritable cycle track on Friday as Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, led fitness enthusiasts down the highway for Dubai Bike Ride. The event, as part of Dubai Fitness Challenge, is aimed at keeping residents fit and healthy. This is especially important since it is critical that our immune systems remain strong in the times of COVID-19. It is also a noble gesture towards making Dubai a bicycle-friendly city, which boosts the city’s green credentials. [COMMENT by Somshankar Bandyopadhyay, Assistant Editor]

End of the road for Fed backstop lending? The US Federal Reserve said Friday it would comply with a Treasury Department request to return unused funds meant to backstop five emergency lending programmes. US Treasury Secretary Steven Mnuchin announced on Thursday to end some of the Fed’s core pandemic programmes at the end of this year. The conflict between the Treasury and the Fed curtails the funds authorized by Cares Act, passed by Congress in March as loss-absorbing buffers that enabled the Fed to make loans to companies and municipal debt issuers. The abrupt end to the Fed funds marks a severe blow to an emergency life-line to US businesses stricken by the COVID-19 pandemic and will have consequences for the economy and financial markets. [COMMENT by Babu Das Augustine, Banking Editor]

Bad news for Trump from Georgia, Michigan: After Georgia certified Joe Biden’s victory in its recount, and lawmakers in the state of Michigan indicated after meeting Trump that they would not seek to undo Biden’s expected win in the state, it looks like it is all over. Lawmakers, especially Republicans, in Michigan did the right thing by saying they will “follow the law and follow the normal process”. Now that the outcome of the race has become clear, America should refocus on the serious issues it faces, the most important being the COVID-19 pandemic that has killed a quarter million in the country. [COMMENT by Omar Shariff, International Editor]

Reality bites for Arteta: The honeymoon period is certainly over for Arsenal’s Mikel Arteta as he deals with the harsh realities football with Gunners down in 11th spot ahead of Sunday’s clash with Leeds. The Spaniard stepped up to his first coaching job last December and went on to win the FA Cup and Charity Shield before the cracks appeared. This week he had to censure midfielder Willian for an unauthorised trip to Dubai, comfort Pierre-Emerick Aubameyang, who had to sleep in a Gambia airport after failing to get access through customs. Mohammad Elneny and Sead Kolasinac have tested positive for coronavirus, and news has also leaked of a training ground punch-up between David Luiz and Dani Ceballos. Welcome to that tricky second year, Mikel ... [COMMENT by Matt Smith,Sports Editor]

Director Madhur Bhandarkar has asked filmmaker Karan Johar to change the title of his upcoming Netflix TV show ‘Fabulous Lives of Bollywood Wives’ because it’s similar to Bhandarkar’s project, ‘Bollywood Wives’, which was announced in 2016. However, the question now is, do we really need a reality show that splashes the lavish lives of wealthy people across our screens? No doubt, TV and movies can be an escape from reality. But it’s distasteful to see such a show be promoted when the world not only faces a pandemic, but job loss and financial insecurity for so many. [COMMENT by Jennifer Barretto, Assistant Editor - Features]