Ronnie O’Sullivan of England plays a shot against Barry Hawkins of England during the final match of the 2013 World Snooker Championships at The Crucible. AFP PHOTO/PAUL ELLIS
Ronnie O’Sullivan of England plays a shot against Barry Hawkins of England during the final match of the 2013 World Snooker Championships at The Crucible. AFP PHOTO/PAUL ELLIS
Ronnie O’Sullivan of England plays a shot against Barry Hawkins of England during the final match of the 2013 World Snooker Championships at The Crucible. AFP PHOTO/PAUL ELLIS
Ronnie O’Sullivan of England plays a shot against Barry Hawkins of England during the final match of the 2013 World Snooker Championships at The Crucible. AFP PHOTO/PAUL ELLIS

Snooker aims to pot Middle East


  • English
  • Arabic

It’s a case of pot luck for which Arabian Gulf state is likely to emerge as the regional home of the game.

“Dubai, Abu Dhabi, Qatar and the Middle East are areas we are interested in bringing an event to,” says Jason Ferguson, the chairman of snooker’s governing body, the World Professional Billiards and Snooker Association (WPBSA).

“We’ve got a player from Qatar on the tour now [Ahmed Saif] and events from Europe to China and Australia; it’s a truly global game, but the Middle East is our missing link. We need to bring in the TV and sponsorship to cover prize money but we are talking to people out there.”

To cover staging an event and prize money, Mr Ferguson estimates between £500,000 (Dh3 million) and £600,000 is needed. But to get snooker established in the region, he also wants to tackle the grassroots. “It’s about getting the event going on the ground. In the Middle East, I’m keen to bring snooker to people rather than let people come to the clubs,” he says.

The world snooker tour is back in the game’s heartland with the Masters at London’s Alexandra Palace starting today, but a game that traces its origins back to 1875 has been transformed in recent years.

When the Northern Irishman Dennis Taylor beat Steve Davis in the 39th and final frame of the 1985 World Championship, the match was watched by 18.5 million viewers in the United Kingdom but was very much stuck in its traditional roots – British working men’s clubs.

The only overseas players tended to come from the Commonwealth. Of the eight players beaten by Davis and Taylor en route to the 1985 final, only two – the South African Silvino Francisco and the Australian Eddie Charlton – came from outside Britain.

Then, the WPBSA had around 30 members but few were active. “Only a handful were providing players for the tour,” says Mr Ferguson, a former professional himself, who was previously elected WPSA chairman but quit after retiring in 2004.

Although the previous WPBSA regime had initiated expansion in the Far East after the success of Marco Fu, who won the 2007 Grand Prix and was runner-up in the 2011 Masters, even his success had colonial links. Fu is from the former British colony of Hong Kong.

As the WPBSA struggled to expand snooker, the game was hit by a European Union ban on sponsorship of sporting events by tobacco firms in 2005. The 2006 World Championship was the first in 30 years not to be sponsored by Embassy cigarettes.

Mr Ferguson returned as WPBSA chairman as thelong-time snooker impresario Barry Hearn took control of World Snooker, the game’s commercial body, which operates the professional circuit. Mr Ferguson describes the sport then as “dying”. Mr Hearn agrees, saying: “Back then, it was moribund, a part-time sport. Everyone was going through the motions revolving around a BBC contract.”

Snooker’s “world tour” then comprised a mere half a dozen events. Total prize money on offer was just £3.5m and one of the world’s oldest games was not even recognised as a sport by Sport England, the pan-sporting body in the game’s homeland. Last year, Mr Ferguson, also a director of World Snooker, managed to get Sport England to recognise snooker and the tour has blossomed internationally. He adds: “I was brought back by Barry Hearn to head the governing body and the commercial side.”

Mr Ferguson reels off the statistics with the confidence of someone who believes in his vision. “We’ve got 90 national governing bodies, including one in Dubai.”

When Ronnie O’Sullivan won the 2013 World Championship, his winnings were £250,000 and a revitalised world tour now has more than 30 events from Germany to Australia and China and offers total winnings of £8.3m.

Mr Hearn’s Matchroom Sports has sold television rights to 78 countries around the world. The WPBSA still works with the BBC but also with IMG and Eurosport, which Mr Ferguson pin-points as being key to the expansion in Eastern Europe.

This has taken the European tour to Bulgaria, where crowds for matches in the event staged in June 2013, which was won by John Higgins, reportedly saw crowds of more than 1,000 attend some sessions. Mr Ferguson adds: “There is strong interest in Latvia and we’re in talks in Russia. It’s not long before we have a major ranking event in Eastern Europe.”

The WPSBA has tried events in South America and introduced the game to India, which Mr Hearn believes could be the start of a major breakthrough. He adds: “The Indian Open is potentially the biggest breakthrough. The Indian sub-continent is a massive potential market.”

Snooker was first invented at Jubbulpore in India in 1875, when British officers from the Devonshire regiment began experimenting with billiards. Mr Hearn and Mr Ferguson believe that snooker in India could soon emulate China, where the previous regime had introduced a sport that has really begun to take off.

“We started out with one event that was invitation only many years ago but we’re working with the CBSA [China Billiards & Snooker Association] and now we’ve got 14 players on the main tour,” says Mr Ferguson.

The image of the game in India, China and other parts of the Far East, such as Thailand, is very different to the one that snooker retains in Britain. When the tobacco sponsorship was pulled, their replacements were typically online bookmakers, such as Betfred, William Hill and Betfair, which sponsors the World Championships.

This drew criticism in Britain, particularly on social media platforms, that the game’s governing authorities were purposely aiming downmarket in its homeland and not looking for more up-market sponsorship.

“The UK is a tough market. The banks have laid off thousands of people and there’s a big concern generally about sponsorship there,” says Mr Ferguson. “I’m sure it will pick up and different types of sponsorship will come through.

“One of the things we do is have different levels of sponsorship. In China, snooker is seen as a very upmarket sport, a gentleman’s sport with great etiquette. What other sport can you find where players own up to their own fouls? That’s a great asset overseas.”

Snooker sponsors in the Far East include the Bank of China and Ferguson points to how the game has become part of the school curriculum in some Asian countries. The WPBSA has also developed a white board game called Functional Snooker for schools and tables are increasingly being installed in schools with the approval of the education authorities. One school in China has 28 snooker tables.

“That’s been one of our big successes,” says Mr Ferguson. “Young kids learning maths that teachers could not engage before. You couldn’t expect parents to leave kids in snooker clubs, but they are far more comfortable leaving them playing snooker in a school.”

For Mr Ferguson and the WPBSA, that is where the future of the game in the Middle East lies: the grass roots, and establishing an enthusiasm for the game with the younger generation that follows through into adult life.

business@thenational.ae

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

Armies of Sand

By Kenneth Pollack (Oxford University Press)
 

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

RESULT

Argentina 0 Croatia 3
Croatia: 
Rebic (53'), Modric (80'), Rakitic (90' 1)

TICKETS

Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.

Padmaavat

Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5

Places to go for free coffee
  • Cherish Cafe Dubai, Dubai Investment Park, are giving away free coffees all day. 
  • La Terrace, Four Points by Sheraton Bur Dubai, are serving their first 50 guests one coffee and four bite-sized cakes
  • Wild & The Moon will be giving away a free espresso with every purchase on International Coffee Day
  • Orange Wheels welcome parents are to sit, relax and enjoy goodies at ‘Café O’ along with a free coffee
The Lowdown

Kesari

Rating: 2.5/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Anubhav Singh
Cast: Akshay Kumar, Parineeti Chopra

 

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Fight card
  • Aliu Bamidele Lasisi (Nigeria) beat Artid Vamrungauea (Thailand) POINTS
  • Julaidah Abdulfatah (Saudi Arabia) beat Martin Kabrhel (Czech Rep) POINTS
  • Kem Ljungquist (Denmark) beat Mourad Omar (Egypt) TKO
  • Michael Lawal (UK) beat Tamas Kozma (Hungary) KO​​​​​​​
  • Zuhayr Al Qahtani (Saudi Arabia) beat Mohammed Mahmoud (UK) POINTS
  • Darren Surtees (UK) beat Kane Baker (UK) KO
  • Chris Eubank Jr (UK) beat JJ McDonagh (Ireland) TKO
  • Callum Smith (UK) beat George Groves (UK) KO

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

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.

Results

2pm: Maiden (TB) Dh60,000 (Dirt) 1,200m, Winner: Mouheeb, Tom Marquand (jockey), Nicholas Bachalard (trainer)

2.30pm: Handicap (TB) Dh68,000 (D) 1,200m, Winner: Honourable Justice, Royston Ffrench, Salem bin Ghadayer

3pm: Handicap (TB) Dh84,000 (D) 1,200m, Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi

3.30pm: Conditions (TB) Dh100,000 (D) 1,200m, Winner: Dark Silver, Fernando Jara, Ahmad bin Harmash

4pm: Maiden (TB) Dh60,000 (D) 1,600m, Winner: Dark Of Night. Antonio Fresu, Al Muhairi.

4.30pm: Handicap (TB) Dh68,000 (D) 1,600m, Winner: Habah, Pat Dobbs, Doug Watson

'Peninsula'

Stars: Gang Dong-won, Lee Jung-hyun, Lee Ra

Director: ​Yeon Sang-ho

Rating: 2/5

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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.”

UAE currency: the story behind the money in your pockets
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Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

if you go

The flights

Direct flights from the UAE to the Nepalese capital, Kathmandu, are available with Air Arabia, (www.airarabia.com) Fly Dubai (www.flydubai.com) or Etihad (www.etihad.com) from Dh1,200 return including taxes. The trek described here started from Jomson, but there are many other start and end point variations depending on how you tailor your trek. To get to Jomson from Kathmandu you must first fly to the lake-side resort town of Pokhara with either Buddha Air (www.buddhaair.com) or Yeti Airlines (www.yetiairlines.com). Both charge around US$240 (Dh880) return. From Pokhara there are early morning flights to Jomson with Yeti Airlines or Simrik Airlines (www.simrikairlines.com) for around US$220 (Dh800) return. 

The trek

Restricted area permits (US$500 per person) are required for trekking in the Upper Mustang area. The challenging Meso Kanto pass between Tilcho Lake and Jomson should not be attempted by those without a lot of mountain experience and a good support team. An excellent trekking company with good knowledge of Upper Mustang, the Annaurpuna Circuit and Tilcho Lake area and who can help organise a version of the trek described here is the Nepal-UK run Snow Cat Travel (www.snowcattravel.com). Prices vary widely depending on accommodation types and the level of assistance required. 

Wonka
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