Illustration by Chris Burke for The National
Illustration by Chris Burke for The National

Carlos Costa: Agent with an ace up his sleeve



Many people consider Roger Federer to be the greatest tennis player of all time. But you would not necessarily count the agent of one of his fiercest rivals among them.

Biobox: Carlos Costa

Born April 22 1968

Married Itziar

Children Blanca, Carlos and Ines

Favourite tournament Wimbledon

Favourite sport to watch Football, especially when Barcelona is playing (tennis is his "business")

Turned pro 1988

Retired 1999

Singles career ranking high 10 in 1992

Singles titles 6

Singles matches won-lost 248-208

Doubles career ranking hig 40 in 1989

Doubles titles 5

Doubles matches won-lost 78-79

Total prize money won $3,134,189

"Roger is a very nice guy. I think he's the best tennis player in history. The way he plays tennis is unbelievable. I love Roger," says Carlos Costa, who acts for Rafael Nadal.

Being a former professional player himself, it is perhaps not surprising that Costa is able to take an objective view on the talent of tennis stars.

Born and bred in Barcelona, Costa turned professional when he was 19. His highest career ranking was world number 10 in 1992.

Beating former world number one Pete Sampras may appear on the surface to be his best accomplishment, but it was by no means his most memorable match.

"It's not that I beat Sampras in a grand slam in the semi-finals," he says. "I beat him in a good tournament, but in the second or third round, which you can understand with the top players normally it's better to beat them in the semi-finals or finals of a grand slam. But it was a good match."

He is most proud of winning the Barcelona Open in 1992, a year when he played well for six months, claiming several titles. But it was tough to keep up the momentum.

"For me it was a great year," he says. "It was a surprise. And then after that you have to keep working hard to keep the level and keep improving. Maybe in that time I was a little bit surprised about my level and I wasn't so concentrated to improve things to keep at the same level."

For the last two years of his 11-year professional career, Costa began to manage himself, breaking away from his agent.

"I started to deal with my contracts and everything because it's something else I really liked," he says. "It was something I wanted to test and to see if I would be qualified for."

And as it turned out, he did have a talent for management, joining IMG, his former agency, as an employee in late 2001.

His boss passed him a number of clients when he joined the company, but he soon started to sign stars of his own, including David Ferrer, who was his first.

He signed Nadal in 2001 or 2002 - he cannot remember the exact year - when Nadal was about 14. The young Spaniard soon began his rise to the top, reaching the top 50 for the first time in 2003. Two years later he claimed a teenage record of 11 titles. He knocked Federer off the top spot in 2008, ending almost five straight years of the Swiss player's domination of the game.

"David Ferrer is still with IMG, but he is not with me any more, because if you are managing Rafa Nadal, you don't have any time to manage another top player," Costa says.

So what is the man he has represented for more than a decade like?

"He's like family for me and I'm like family for him," Costa says.

"He's so loyal. He has been working with the same team for 11 years already. Sometimes when [tennis players improve and] start winning … they don't like to listen to the people around because they think they are right. Rafa always has his people around and he listens to the people. It's very easy to work with him."

And he works "24/7" with Nadal managing his calendar and list of lucrative sponsors. But he refuses to reveal how much his contracts with them are worth.

"How much? How much he gets for the sponsors?" says Costa with a hint of irritation. "No, I never will tell you this. It's confidential."

Yet estimates of Nadal's earnings from endorsements are not hard to find.

He was the 12th-highest paid sports star in a Forbes list last year, earning US$31.5 million (Dh115.7m), $10.5m of which was prize money, in the 12 months to last May.

"We try to get the key strong points from Rafa, so a leader, a winner, he's a fighter, and then we try to find a company which has these points, in Spain or worldwide," Costa says.

Nadal's sponsors include Banesto, "one of the best banks in Spain", Mapfre, an insurance company which is the "best company in Spain", and Kia Cars - which "has been involved in tennis for many, many years".

So will this be the year that Nadal returns to the number one spot?

"I don't know. It's so difficult to gauge, but he's doing the right things," Costa says. "We will see. [In 2011, Novak] Djokovic played unbelievably. He won everything. Sometimes even if you do your best there is another guy who is doing better. There is nothing you can do. But he is doing the right things to stay on top."

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Company%20Profile
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'Panga'

Directed by Ashwiny Iyer Tiwari

Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta

Rating: 3.5/5

Dubai works towards better air quality by 2021

Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.

The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.

These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.

“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.

“We’re in a good position except for the cases that are out of our hands, such as sandstorms.

“Sandstorms are our main concern because the UAE is just a receiver.

“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”

Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.

There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.

“There are 25 stations in total,” Mr Al Daraji said.

“We added new technology and equipment used for the first time for the detection of heavy metals.

“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

The 12 Syrian entities delisted by UK 

Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV

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.”

F1 2020 calendar

March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

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The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills