Al Ain // The final day of the UAE Rotax Max Challenge 2014/15 season produced a surprise victory for a name that is familiar in Emirati motorsports.
Hamda Al Qubaisi, the 12-year-old daughter of the first Emirati to finish at Le Mans, Khaled Al Qubaisi, finished first in the Mini Max category and secured fifth place in the UAE Karting Championship final standings.
“I didn’t expect this to happen, I was so happy at the end,” Al Qubaisi said. “I got first position, I’m really, really happy and I don’t know what else to say.”
Leader Sem Knopjes was expected to win the race and the title, but the early laps of a tight race saw him tucked just behind Shihab Al Habsi and just ahead of Al Qubaisi, with the trio comfortably ahead of the rest of the field.
The Emirati driver, who finished second in Round 11 at Yas, said she knew she had to bide her time.
“They were fighting [to get ahead], so I wanted to stay away. I didn’t want to get into the problem,” Al Qubaisi said. “Once they fought, they spun off each other, so I got the first position. I was third before that.”
Crossing the line in first place gave her five podium finishes this season. The victory was all the more unexpected as the morning’s pre-final session had not gone according to plan for Al Qubaisi.
“I was a little mad because I went from second to fourth,” she said. “But someone got a penalty, so I was actually third. That’s the reason I was mad. I didn’t think I would win, I thought I would be at the back. But this is what happened.”
Not many present at the Al Ain raceway circuit, including the driver herself, could have foreseen such a remarkable turnaround in her fortunes from the early days of the season.
“When I started this season, I was a little slow,” Al Qubaisi said. “I was giving up all the time, I didn’t push, but then I started building up confidence and I started driving much better and better.”
Al Qubaisi is enrolled at the Daman Speed Academy, the Abu Dhabi Racing-backed initiative to train young drivers.
She has consistently improved thoughout the season, and it was appropriate that she should win on the last day of the season.
“Al Ain is actually my favourite track,” she said, pointing at the track with a chuckle.
“I want to thank the team (Abu Dhabi Racing) and the Daman Speed Academy for really putting me into this,” Al Qubaisi said.
“For fixing my car and making it perfect for me to drive. I’d like to thank my parents, too, for giving me the opportunity to drive and all my family for cheering for me and being here with me.”
She was not the only Al Qubaisi representing the Daman Speed Academy, either.
Older sister Amna finished an impressive fifth in the final Junior Max race, and younger brother Abdullah could only finish at the back of the field earlier in the Micro Max category.
In England, father Khalid was behind the wheel of his Porsche 911 as his Abu Dhabi-Proton Racing team qualified in third for today’s 6 Hours of Silverstone, the opening race of the new FIA World Endurance Championship.
No doubt he will be brimming with pride at his daughter’s achievement and level-headedness on the track.
“Next season I’ll be racing in the same class.” she said. “I think I can do better in the Championship.”
Her rivals have been warned.
akhaled@thenational.ae
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Four reasons global stock markets are falling right now
There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:
1. Rising US interest rates
The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.
Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”
At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.
2. Stronger dollar
High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.”
3. Global trade war
Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”
4. Eurozone uncertainty
Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.
Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”
The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”
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1,000 tonnes of waste collected daily:
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
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Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
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Torque: 475Nm
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