'Shoe Dog: A Memoir by the Creator of Nike' by Phil Knight (2016).
'Shoe Dog: A Memoir by the Creator of Nike' by Phil Knight (2016).

My favourite reads: Kelsey Warner



I'm unable to wax poetic on my love of Big Little Lies or Gone Girl without feeling self-conscious, so I went for a serious list. These tell-all accounts of opaque companies, quixotic leaders and a doomed ocean liner, are as hard to put down as any Gillian Flynn fiction.

Bad Blood: Secrets and Lies in a Silicon Valley Startup by John Carreyrou (2018)

The gripping account of the meteoric rise, huge cover-up and swift fall of Theranos, a blood-testing company founded by Elizabeth Holmes, a former wunderkind of Silicon Valley who raised $1.4 billion to run what turned out to be a scam that put patients in grave danger.

Dead Wake: The Last Crossing of the Lusitania by Erik Larson (2015)

This is the gripping backstory of the sinking of the passenger ship Lusitania by a German submarine that ultimately drew the United States into the First World War. Larson weaves a story between the ocean liner and the German U-boat that torpedoed the ship on a sunny May day, sinking it in 18 minutes.

Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future by Ashlee Vance (2015)

Get to know the man behind some of the most exciting advances of our time. Musk went on the record for this one, and this portrait will get you all psyched about space, renewable energy, electric cars and yes, even in our troubled times, the future.

Private Empire: ExxonMobil and American Power by Steve Coll (2012)

From the Exxon Valdez disaster in 1989 to the Deepwater Horizon oil spill in 2010, Steve Coll includes tales of downed helicopters, kidnappings and Kremlin intrigue. You’ll come away from this page-turner deeply informed about the biggest, most secretive American corporation, which has major interests in the place we call home.

Shoe Dog: A Memoir by the Creator of Nike by Phil Knight (2016)

A journalism school classmate published a book about Nike’s influence in collegiate athletics (University of Nike by Joshua Hunt). I haven’t read it yet, but I am sure it is a worthy counter-argument to worshipping at the Church of Nike. But what an epic Phil Knight has to share. The best sneaker salesman the world has known tells a pretty good story, too.

Kelsey Warner is assistant business editor for The National

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Read more:

Sanju

Produced: Vidhu Vinod Chopra, Rajkumar Hirani

Director: Rajkumar Hirani

Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani

Rating: 3.5 stars

Company profile

Company: Zywa
Started: 2021
Founders: Nuha Hashem and Alok Kumar
Based: UAE
Industry: FinTech
Funding size: $3m
Company valuation: $30m

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

SPECS

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

UAE currency: the story behind the money in your pockets
Teams

Pakistan: Sarfraz Ahmed (captain), Mohammad Hafeez, Sahibzada Farhan, Babar Azam, Shoaib Malik, Asif Ali, Shadab Khan, Shaheen Shah Afridi, Usman Khan Shanwari, Hasan Ali, Imad Wasim, Faheem Ashraf.

New Zealand: Kane Williamson (captain), Corey Anderson, Mark Chapman, Lockie Ferguson, Colin de Grandhomme, Adam Milne, Colin Munro, Ajaz Patel, Glenn Phillips, Seth Rance, Tim Seifert, Ish Sodhi, Tim Southee, Ross Taylor.

COMPANY PROFILE

Name: DarDoc
Based: Abu Dhabi
Founders: Samer Masri, Keswin Suresh
Sector: HealthTech
Total funding: $800,000
Investors: Flat6Labs, angel investors + Incubated by Hub71, Abu Dhabi's Department of Health
Number of employees: 10

Russia's Muslim Heartlands

Dominic Rubin, Oxford

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

All The Light We Cannot See

Creator: Steven Knight

Stars: Mark Ruffalo, Hugh Laurie, Aria Mia Loberti

Rating: 1/5 

Top 10 most competitive economies

1. Singapore
2. Switzerland
3. Denmark
4. Ireland
5. Hong Kong
6. Sweden
7. UAE
8. Taiwan
9. Netherlands
10. Norway

Pad Man

Dir: R Balki

Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte

Three-and-a-half stars

WHAT MACRO FACTORS ARE IMPACTING META TECH MARKETS?

• Looming global slowdown and recession in key economies

• Russia-Ukraine war

• Interest rate hikes and the rising cost of debt servicing

• Oil price volatility

• Persisting inflationary pressures

• Exchange rate fluctuations

• Shortage of labour/skills

• A resurgence of Covid?

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

The specs: 2019 Audi A8

Price From Dh390,000

Engine 3.0L V6 turbo

Gearbox Eight-speed automatic

Power 345hp @ 5,000rpm

Torque 500Nm @ 1,370rpm

Fuel economy, combined 7.5L / 100km

NBA FINALS SO FAR

(Toronto lead 3-2 in best-of-seven series)

Game 1 Raptors 118 Warriors 109

Game 2 Raptors 104 Warriors 109

Game 3 Warriors 109 Raptors 123

Game 4 Warriors 92 Raptors 105

Game 5 Raptors 105 Warriors 106

Game 6 Thursday, at Oakland

Game 7 Sunday, at Toronto (if needed)

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

The National in Davos

We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

FIXTURES

All kick-off times 10.45pm UAE (+4 GMT)

Tuesday
Mairobr v Liverpool
Spartak Moscow v Sevilla
Feyenoord v Shakhtar Donetsk
Manchester City v Napoli
Monaco v Besiktas
RB Leipzig v Porto
Apoel Nicosia v Borussia Dortmund
Real Madrid v Tottenham Hotspur

Wednesday
Benfica v Manchester United
CSKA Moscow v Basel
Bayern Munich v Celtic
Anderlecht v Paris Saint-Germain
Qarabag v Atletico Madrid
Chelsea v Roma
Barcelona v Olympiakos
Juventus v Sporting Lisbon

Sly Cooper and the Thievius Raccoonus

Developer: Sucker Punch Productions
Publisher: Sony Computer Entertainment
Console: PlayStation 2 to 5
Rating: 5/5

England squads for Test and T20 series against New Zealand

Test squad: Joe Root (capt), Jofra Archer, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Sam Curran, Joe Denly, Jack Leach, Saqib Mahmood, Matthew Parkinson, Ollie Pope, Dominic Sibley, Ben Stokes, Chris Woakes

T20 squad: Eoin Morgan (capt), Jonny Bairstow, Tom Banton, Sam Billings, Pat Brown, Sam Curran, Tom Curran, Joe Denly, Lewis Gregory, Chris Jordan, Saqib Mahmood, Dawid Malan, Matt Parkinson, Adil Rashid, James Vince

Super Bowl LIII schedule

What Super Bowl LIII

Who is playing New England Patriots v Los Angeles Rams

Where Mercedes-Benz Stadium in Atlanta, United States

When Sunday (start time is 3.30am on Monday UAE time)

 

Anna and the Apocalypse

Director: John McPhail

Starring: Ella Hunt, Malcolm Cumming, Mark Benton

Three stars

Country-size land deals

US interest in purchasing territory is not as outlandish as it sounds. Here's a look at some big land transactions between nations:

Louisiana Purchase

If Donald Trump is one who aims to broker "a deal of the century", then this was the "deal of the 19th Century". In 1803, the US nearly doubled in size when it bought 2,140,000 square kilometres from France for $15 million.

Florida Purchase Treaty

The US courted Spain for Florida for years. Spain eventually realised its burden in holding on to the territory and in 1819 effectively ceded it to America in a wider border treaty. 

Alaska purchase

America's spending spree continued in 1867 when it acquired 1,518,800 km2 of  Alaskan land from Russia for $7.2m. Critics panned the government for buying "useless land".

The Philippines

At the end of the Spanish-American War, a provision in the 1898 Treaty of Paris saw Spain surrender the Philippines for a payment of $20 million. 

US Virgin Islands

It's not like a US president has never reached a deal with Denmark before. In 1917 the US purchased the Danish West Indies for $25m and renamed them the US Virgin Islands.

Gwadar

The most recent sovereign land purchase was in 1958 when Pakistan bought the southwestern port of Gwadar from Oman for 5.5bn Pakistan rupees. 

ASIAN RUGBY CHAMPIONSHIP 2024

Results
Hong Kong 52-5 UAE
South Korea 55-5 Malaysia
Malaysia 6-70 Hong Kong
UAE 36-32 South Korea

Fixtures
Friday, June 21, 7.30pm kick-off: UAE v Malaysia
At The Sevens, Dubai (admission is free).
Saturday: Hong Kong v South Korea

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.