2024 FORMULA 1 WORLD CHAMPIONSHIP CONSTRUCTOR STANDINGS
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2024 Formula 1 World Championship Drivers' Standings
FORMULA 1 STC SAUDI ARABIAN GRAND PRIX 2024 - Race Results
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FORMULA 1 STC SAUDI ARABIAN GRAND PRIX 2024 - Top 10 Qualifying Results
Carlos Sainz has been ruled out of this weekend’s Saudi Arabian Grand Prix, Ferrari have confirmed.
Sainz missed Wednesday’s media day through illness but was in action for Ferrari in the first two practice sessions. Ferrari have announced that Sainz has been diagnosed with appendicitis and will require surgery. He will be replaced by Ferrari protege, and British driver, Oliver Bearman. Ferrari released the following statement on social media on Friday morning: “Carlos Sainz has been diagnosed with appendicitis and will require surgery. “As from FP3 and for the rest of this weekend, he will be replaced by reserve driver Oliver Bearman. Oliver will therefore take no further part in this round of the F2 Championship. “The Ferrari family wishes Carlos a speedy recovery.” Sainz had admitted after FP2 that it was a "very difficult" day but hoped that the rest of the weekend would be easier for him. However, the 29-year-old will now require surgery. Williams driver Alex Albon was forced to miss the 2022 Italian Grand Prix due to appendicitis. The Thai driver returned to action two weeks later in Singapore. Who is Bearman? At just 18, Bearman is one of Formula 2’s hottest prospects with a big future ahead of him. Tipped to be a Haas driver in 2025, Bearman was set to start this weekend’s F2 round in Saudi Arabia on pole position. The British driver showed great potential in his rookie season, taking four victories as he finished sixth in the championship. While overall consistency escaped him, his raw pace, particularly for a rookie, caught the eye of many. Bearman is tipped to be Britain’s next F1 superstar - and by making his debut with Ferrari - he has the perfect opportunity to showcase his credentials. Due to his F1 commitments, Bearman will miss both F2 races in Saudi Arabia. Saudi Arabia and Iran are among six countries to join BRICS as new members next year, South African President Cyril Ramaphosa has announced, on the final day of a summit of the group that considers itself a counterweight to Western powers.The group encompassing five major emerging economies – China, Brazil, South Africa, Russia and India – which makes decisions by consensus, agreed on “the guiding principles, standards, criteria and procedures of the BRICS expansion process”, during the three-day annual summit held in Johannesburg this week, Ramaphosa said on Thursday. As part of the first phase, Argentina, Egypt, Ethiopia and the United Arab Emirates will join Saudi Arabia and Iran to become full BRICS members in January 2024. Other phases will follow. “This membership expansion is historic,” said Chinese President Xi Jinping. “The expansion is also a new starting point for BRICS cooperation. It will bring new vigour to the BRICS cooperation mechanism and further strengthen the force for world peace and development.”
A senior adviser to Iran’s president on Thursday welcomed the country’s admission to the grouping. “Permanent membership in the group of global emerging economies is considered a historic development and a strategic success for the foreign policy of the Islamic republic,” Mohammad Jamshidi wrote on X, which was previously known as Twitter. Ethiopian Prime Minister Abiy Ahmed hailed what he called “a great moment” for his country. “Ethiopia stands ready to cooperate with all for an inclusive and prosperous global order,” Abiy said on Twitter. The core group of five BRICS countries has been discussing the issue of expansion for more than a year, Ramaphosa said, and the new members were invited this week after an agreement was reached at the summit. The expansion of the group is part of its plan to build dominance and reshape global governance into a “multipolar” world order that puts voices of the Global South at the centre of the world agenda. The inclusion of Saudi Arabia, the UAE, Iran and Egypt marks the first MENA representation in the group, and the inclusion of Argentina was championed by member Brazil. Expansion was pushed heavily by Russia and China, analysts said, as they are facing pushback from Western nations in the form of sanctions. Other BRICS countries were initially more ambivalent, but leaders came out in vocal support of the plan this week. The grouping of emerging economies has been in formal existence for 15 years. Some experts told Al Jazeera that it has not achieved much and the diffuse nature of their political and social interests means BRICS leaders do not always agree on issues. Some say that has prevented them from becoming a more powerful or effective entity. Some Arab leaders are ignoring Russia’s “illegal” conduct in Ukraine, President Vladimir Zelensky claimed at the Arab League summit on Friday. He made the statement while attending the gathering in Jeddah, Saudi Arabia, in person. Without mentioning any names, Zelensky remarked that some attendees “have a different view on the war on our land.” “Unfortunately, there are some in the world and here, among you, who turn a blind eye to [prisoner of war] cages and illegal annexations,” the president insisted. “I am here so that everyone can take an honest look. No matter how hard the Russians try to influence [others], there must still be independence.”
Unlike many Western countries, Arab states have refused to impose sanctions on Moscow over its military operation in the neighboring state. Oil-rich nations in the Persian Gulf worked with Moscow through OPEC+ to enact coordinated production cuts, prompting criticism from Washington, which is seeking to curtail Russia’s oil exports. peaking on Friday, Saudi Crown Prince Mohammed bin Salman said that Riyadh sees itself as a potential broker for peace. “We reaffirm the kingdom’s readiness to continue mediating efforts between Russia and Ukraine, and to support all international efforts aimed at resolving the crisis politically in a way that contributes to achieving security,” he said, as cited by Al Jazeera. Last year, Saudi Arabia and the UAE helped to negotiate a high-profile prisoner exchange between Kiev and Moscow. Bin Salman spoke to Russian President Vladimir Putin over the phone last month. During the “friendly and constructive” conversation, the leaders agreed to bolster relations between the two countries, the Kremlin said.
2023 Formula 1 World Championship Drivers' Standings
FORMULA 1 STC SAUDI ARABIAN GRAND PRIX 2023 - Race Results
The issue of the creation of a BRICS reserve currency has taken on particular significance in recent months after President Putin declared that the creation of such a currency was in the process of discussion. This was followed by a series of statements coming from Russia’s legislative branch on the expediency of creating a new reserve currency — most recently from the Federation Assembly speaker Valentina Matvienko. While the debate on the possibility of creating such a reserve currency is only starting in Russia and more broadly across the global economy, the implications of such a move on the part of the BRICS could have transformational consequences for the global financial system.
Initially, the proposal to create a new reserve currency based on a basket of currencies of BRICS countries was formulated by the Valdai Club back in 2018 — the idea was to create an SDR-type currency basket composed of BRICS countries’ national currencies as well as potentially some of the other currencies of BRICS+ circle economies. The choice of BRICS national currencies was due to the fact that these were the among the most liquid currencies across emerging markets. The name for the new reserve currency — R5 or R5+ — was based on the first letters of the BRICS currencies all of which begin with the letter R (real, ruble, rupee, renminbi, rand). The recent debates concerning the prospects for the creation of a new reserve currency focused more on the risks, fragilities and outright impossibility of the R5 project. Less attention has been accorded to estimating the benefits (including in terms of hard figures) to BRICS economies and EM more generally. There has also been scant attention with respect to the actual modalities of launching the BRICS reserve currency. What is clear at this stage is that the BRICS reserve currency will not be created to replace the national reserve currencies of the BRICS economies — rather it will complement these national currencies and will serve to improve the possibilities for more EM currencies to attain reserve status. Accordingly, the attainment of high trading shares among the BRICS economies is a desirable but not altogether an indispensable condition for launching the new reserve currency. In fact, the new BRICS currency does not have to service all trade transactions among BRICS economies in the very near term. Initially, the new BRICS currency could perform the role of an accounting unit to facilitate transactions in national currencies. In the longer run, the R5 BRICS currency could start to perform the role of settlements/payments as well as the store of value/reserves for the central banks of emerging market economies. Within the composition of the R5 currency basket the share of the Chinese renminbi may be initially set at a relatively high level in order to take advantage of the already advanced reserve status of the Chinese currency. This share may be reduced progressively in stages later on along with the inclusion of new EM national currencies. Outside of the BRICS economies some of the potential candidates that with time could be included into the R5+ currency basket may feature the Singaporean dollar or the UAE’s dirham. One of the potential risks associated with the use of EM currencies in reserves is their high volatility. The basket mechanism of the BRICS reserve currency will allow for reducing some of this volatility via averaging out the exchange rate dynamics of currencies that follow different market trends — if the currencies of Russia, South Africa and Brazil follow the commodity cycle, the opposite is true with respect to commodity importers such as India and China. Importantly, the scope for employing the new reserve currency in the world economy is sizeable given the tremendous potential for de-dollarization. The new BRICS reserve currency can act in concert with the stronger role performed by BRICS national currencies to take on a greater share of the total pie of currency transactions in the world economy. This greater role can be gradually extended from servicing foreign trade transactions to investment flows across the developing world. In line with the original R5 concept developed by Valdai Club in 2018 one of the possible venues for boosting the use of national currencies and the BRICS reserve currency could be the creation of a platform for regional development banks in which BRICS economies are members. Such a platform could develop a portfolio of common/integration projects that may be financed in national currencies. In the end, the launching of a new reserve currency if successful will impart a transformational effect on the international financial system. The Central Banks in the global economy are experiencing a notable shortage of reserve currencies in managing their reserve holdings. In this respect, the emergence of additional reserve currencies from among the EM economies will serve to expand the possibilities for diversifying reserve holdings and reducing the vulnerabilities associated with the dependence on a narrow range of currencies. The R5 project can thus become one of the most important contributions of emerging markets to building a more secure international financial system. China and Saudi Arabia have discussed the creation of a free-trade zone between Beijing and the member states of the Gulf Co-operation Council (GCC), Al-Arabiya reported on Friday, citing Crown Prince Mohammed bin Salman.
“We have discussed the creation of a free-trade zone between China and the countries of the Persian Gulf,” the crown prince announced, speaking at a Chinese-Arab summit that kicked off in Riyadh. The Gulf states and Beijing are also planning to cooperate on solving “problems of food and energy security,” and “...exploring the possibility of cooperation with China in the field of supply chains,” bin Salman added. China's President Xi Jinping arrived in the Saudi capital on Wednesday, holding separate talks with Saudi King Salman bin Abdulaziz Al Saud and Egyptian President Abdel Fattah el-Sisi the following day. He is attending the Sino-Arab summit that will reportedly bring together 30 leaders of Arab nations and organizations. China and Saudi Arabia have signed 12 agreements and memorandums of understanding on co-operation in hydrogen energy, judiciary, language education, housing, direct investment, broadcast media, digital economy, economic development, standardization, news coverage, tax administration, and anti-corruption.
FORMULA 1 STC SAUDI ARABIAN GRAND PRIX 2022 Race Results
FORMULA 1 STC SAUDI ARABIAN GRAND PRIX 2022 Qualifying Results
2021 Formula 1 World Championship Drivers' Standings
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