VISIT EXPO-2020 SITE, THE NEWEST TOURIST ATTRACTION IN DUBAI: UAE residents and tourists can now visit the Expo-2020 Dubai’s ‘Terra –The Sustainability Pavilion’ starting from January 21. The Expo-2020 pavilion is going to be a unique ‘tourist attraction’ in Dubai. The main idea of allowing visitors is to provide a glimpse of what is to come when Expo 2020 Dubai opens on October 1, 2021. More pavilions are also set to open in phases in coming months. Opening of the pavilion for visitors is definitely a great start to 2021 with a positive note. This will not only generate more economic activities but also give much needed boost to the tourism industry in Dubai. [COMMENT BY: Ashfaq Ahmed, Senior Assistant Editor]
Image Credit: Antonin Kelian Kallouche/Gulf News
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SPAIN’S SNOWSTORM CAUSES $2 BILLION IN DAMAGE: A blanket of pure white snow looks magical. In winter, when the trees are bare and the roads are covered with grit, a layer of snow brings plenty of refreshing respite. It can turn the volume right down on bustling cities – not that Madrid is enjoying any tranquility following its heaviest snowfall in 50 years. Mayor José Luis Martínez-Almeida has called on the central government to declare the city a disaster zone. It has been brought to a standstill by Storm Filomena causing almost $2 billion in damages. Parks have been destroyed and almost 1,000 soldiers have been called in to help city services. The 6.6 million population has been told to brace for more freezing weather which is predicted to last until the middle of next week. It will be the longest stretch to hit Madrid in two decades. [COMMENT BY: Imran Malik, Assistant Editor]
Image Credit: AP
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CAN BAD LOAN PROVISIONS BECOME A SOURCE OF RELIEF FOR BANKS? Banks that set aside several billions in their so-called loan-loss reserves to cover potential bad loans in the early days of the pandemic are now having a positive impact on their profits. The financial performance of the big US banks has improved from earlier in 2020. JPMorgan and Wells Fargo saw fourth quarter profits rise with the ‘releasing’ of some of the funds that were set aside to cover potential loan losses. Although all banks are required to make provisions for bad loans, those institutions that have taken refuge in regulatory forbearance and liquidity support measures instead of making provision will eventually face impact on their profits when the credit risks materialise. [COMMENT BY: Babu Das Augustine, Business Editor]
Image Credit: AFP
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UNLIKELY HEROES ARE ORDER OF THE DAY FOR INDIA: India may have conceded a 33-run deficit to Australia after the first innings of the decisive fourth Test in Brisbane, but they will have a spring in their step having shown such character in daunting circumstances. The tourists were all out for 336 late on the third day of the fourth Test at the Gabba on Sunday. Resuming on 62-2, the tourists slumped to 186-6 before unlikely heroes Washington Sundar and No. 8 Shardul Thakur raised 123 runs for the sixth wicket to rescue them. Despite their lack of fit bowlers, India will now have the belief to go for the win. [COMMENT BY: Matthew Smith, Sports Editor]
Image Credit: AP
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ARMIE HAMMER AND THE CURIOUS CASE OF CANNIBALISM: If there was ever a case for Nancy Drew to go sleuthing then the Armie Hammer scandal would top the list. After the cannibalism scandal unfolded on social media, Hammer’s Hollywood career has come to a standstill, with the actor having to drop out from his romcom with Jennifer Lopez. Now Bella Thorne has spoken out in support of Hammer, calling the whole news ridiculous, even as his ex Courtney Vucekovich tells Page Six: “He said to me he wants to break my rib and barbecue and eat it.” Whether or not there is any truth to these claims, Hammer’s fall from grace treads a thin line between rumour mongering and libelous reporting. Hammer has refused to comment on this, but the fan clubs are abuzz. Let’s just hope this isn’t a case of trial by social media that can leave a person and their career in ruins. [COMMENT BY: Bindu Rai, Entertainment Editor]
Image Credit: REUTERS
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