e& becomes founding partner of Formula 1 Etihad Airways Abu Dhabi Grand Prix

e& announced on a multi-year strategic partnership with Abu Dhabi Motorsports Management as a founding partner of Formula 1 Etihad Airways Abu Dhabi Grand Prix. (WAM)
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Updated 15 September 2022
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e& becomes founding partner of Formula 1 Etihad Airways Abu Dhabi Grand Prix

  • FIFA delegation paid a visit to the Department to learn more about its expertise in intellectual property rights protection.
  • This year’s race weekend will be held from Nov. 17 to Nov. 20 at the Yas Marina Circuit.

ABU DHABI: e& announced on Thursday a multi-year strategic partnership with Abu Dhabi Motorsports Management as a founding partner of Formula 1 Etihad Airways Abu Dhabi Grand Prix, the Middle East’s largest sporting event.

As a founding partner, e& will collaborate closely with Abu Dhabi Motorsports Management and Formula 1 to drive consumer engagement with digital experiences.

“These are exciting times for us and we are delighted to partner with the Formula 1 Etihad Airways Abu Dhabi Grand Prix, the season finale and world-renowned motorsports event that brings the best of global sport and entertainment to UAE,” e& Group CEO Hatem Dowidar said.

“Our multi-year strategic partnership with such a premium global brand offers us multiple opportunities to not only build new relationships and enhance customer experiences but also to seal our brand positioning as the global technology and investment conglomerate that digitally empowers societies,” he said.

“Today, the country is a global destination of sports; given the world-class facilities and diverse landscape, the UAE and the emirate of Abu Dhabi will be more prevalent on the world’s sporting calendar. 

“We are proud to be part of this global show alongside other reputed global brands, a next-generation, technology-driven sport appealing to a broad and ever-growing audience that resonates with the values of e& and its ambitions of transforming into a global technology and investment conglomerate. 

“The event will allow us to explore possibilities that will elevate the visitor experience most innovatively at Formula 1 Etihad Airways Abu Dhabi Grand Prix.”

Abu Dhabi Motorsports Management CEO Saif Al-Noaimi said: “We are proud and honored to announce e& as a founding partner to the Formula 1 Etihad Airways Abu Dhabi Grand Prix. Having the world’s eyes on Abu Dhabi during race week provides e& with an excellent platform for the brand to tell its global transformation story as it grows and evolves. 

“The 14th edition of the Abu Dhabi Grand Prix promises to be a fantastic event. With exceptional demand following last year’s record-breaking race weekend, we look forward to welcoming thousands of global F1 fans to Yas Island and Abu Dhabi. 

“We will once again create some unforgettable memories for visitors from around the world in front of our biggest-ever crowds. We look forward to e& joining us on that journey.”

This year’s race weekend will be held from Nov. 17 to Nov. 20 at the Yas Marina Circuit.

The 2022 F1 season finale will conclude a four-day event packed with entertainment and racing action.

Kendrick Lamar and Swedish House Mafia are the first international superstar acts to be announced for the Yasalam After-Race Concerts, with two more premium global artists to be announced in the coming weeks.

The on-track schedule will again include Formula 2 and Formula 4 UAE. This year’s event will also feature a special edition of historic F1 cars on the track, providing spectators with a view into past eras of Formula 1, with additional on-track experiences available throughout the weekend


Silver crosses $77 mark while gold, platinum stretch record highs

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Silver crosses $77 mark while gold, platinum stretch record highs

  • Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
  • Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years

Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.

Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation ‌as a US ‌critical mineral, and strong investment inflows.

Spot gold ‌was ⁠up ​1.2% at $4,531.41 ‌per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.

“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist ⁠at Zaner Metals.

Markets are anticipating two rate cuts in 2026, with the first likely ‌around mid-year amid speculation that US President Donald ‍Trump could name a dovish ‍Fed chair, reinforcing expectations for a more accommodative monetary stance.

The US ‍dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.

On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.

“$80 in ​silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next ⁠year,” Grant added.

Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.

On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.

Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.

All precious ‌metals logged weekly gains, with platinum recording its strongest weekly rise on record.