Gentlemen, start your anti-hacking software


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Formula One teams will not only be battling it out on the track today. They will also be fighting to protect the digital data about their cars and tactics that can make the difference between pole position and the pits.

Computers have become critical to F1, as they control everything from starting the car to assessing thousands of race variables that are fed back through up to 200 sensors on a vehicle.

And at today's Abu Dhabi race, competitors, in partnership with internet security companies, are using software that controls whether any type of information is allowed to be emailed, be burned on to CDs or make its way on to devices such as tablets.

"They control where the data is moving and they ensure that it's not being leaked out, intentionally or unintentionally," says Johnny Karam, the regional director for Symantec, which works with the Lotus Renault F1 team. Teams are also employing methods such as encrypting digital information on F1 team members' laptops or smartphones to make sure that if a device is stolen or lost, no one else will be able to access that data.

The sport has become better at safeguarding information, ever since the 2007 espionage scandal in which the McLaren team was found to be in possession of confidential Ferrari technical information.

A scandal of that magnitude has not rocked the sport since, but teams are still taking the protection of their data seriously.

"The stakes are high," says Graeme Hackland, the chief information officer for the Lotus Renault F1 team.

"When you're struggling or you've got a team like we have now, who is very dominant, and everyone is trying to catch them, we all want to know, what are they doing so different?

"These guys are half-a-second quicker than the second place."

It is not just about data leaking out, but it also what data makes its way into the teams.

Information technology engineers and software developers who move jobs to work for rival F1 teams are asked to sign a "clean-hands" document forbidding bringing any information with them to their new team. F1 teams find this especially tricky to control.

But the consequences for a team that is caught with a rival's data is expulsion from the race.

"It's not only about your own intellectual property going out, which is sometimes a lot easier to protect," says Mr Hackland. "With other people's intellectual property coming in, it's a lot more tricky to detect and stop."

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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.”

Best Academy: Ajax and Benfica

Best Agent: Jorge Mendes

Best Club : Liverpool   

 Best Coach: Jurgen Klopp (Liverpool)  

 Best Goalkeeper: Alisson Becker

 Best Men’s Player: Cristiano Ronaldo

 Best Partnership of the Year Award by SportBusiness: Manchester City and SAP

 Best Referee: Stephanie Frappart

Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)

Best Sporting Director: Andrea Berta (Atletico Madrid)

Best Women's Player:  Lucy Bronze

Best Young Arab Player: Achraf Hakimi

 Kooora – Best Arab Club: Al Hilal (Saudi Arabia)

 Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)

 Player Career Award: Miralem Pjanic and Ryan Giggs

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