As a car reviewer, you can generally tell the kind of market a manufacturer is pitching its latest products at by the venue in which they choose to launch them.
If they opt for Yas Marina Circuit in Abu Dhabi – as many do – the ride in question is likely to have a little more poke than a flatbed truck.
So much was obvious with Porsche, unleashing as it did the outrageous new 911 GT3 and 718 GT4 (both RS models) at the UAE’s Formula One racetrack.
Sporty and loud are the two most obvious things to say about them, but these are vehicles with serious velocity.
Even by the standards of the nippiest production wagons on the planet, the performance figures for this pair are nothing short of eye-watering.
There is some variation between the two, but not a lot.
At full whack, the GT3 RS will hit 296kph and go from 0-100kph in 3.2 seconds. The GT4 maxes out at a higher 315kph but has a slightly slower up-to-the-ton figure of 3.4 seconds.
Yas Marina Circuit was an ultra-pertinent venue, given that these statistics nudge the ones on the spec sheets of F1 cars.
Out on the circuit, you have to drive sedately when setting off from Yas’s pit lane, but as you get on to the track and start moving properly, something little short of automotive Armageddon happens.
The acceleration is fierce as you put your foot down and the g-forces you experience in the bends are in an entirely different league to those some will have felt pulling handbrake turns in your first car.
As you move up through the rev range, it sounds like the gears are being changed by someone with a sledgehammer and the whistle of the engine behind you is both exhilarating and exuberant in terms of the emotions it evokes.
Suffice it to say, if you took one of these out on a track day, you’d likely have the fastest Tin Lizzie there.
Speed aside, though, the GT3 and GT4 are a lot more comfortable to drive than what Max Verstappen or Lewis Hamilton will be using to tear around in when the F1 rolls into Abu Dhabi for the final race of the season.
They are not as roomy as your average 4x4, but more spacey than a lot of vehicles with this kind of speed and power. It’s all tastefully decked out inside, too. You get the usual neat, luxurious brand accoutrements that give off a distinctly supercar vibe.
SPECS
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You’re never too far away from a few racy interior stylings, either – whether they be dials or door handles – that tell you you’re in a vehicle built for high-octane thrills.
Porsche’s reps are keen to underline that these are not just track-day cars and you can use them for everyday motoring.
They’re not wrong, but whether you’d want to is another matter.
The GT4 feels more of a road car than the GT3, but both are positively goading you to put your foot down at all times. However, if you like being the centre of attention, the engine noise alone would certainly get you noticed on the morning commute.
Just try not to rattle the pedestrians too much when you set off from the traffic lights.
The Old Slave and the Mastiff
Patrick Chamoiseau
Translated from the French and Creole by Linda Coverdale
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
At Everton Appearances: 77; Goals: 17
At Manchester United Appearances: 559; Goals: 253
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”
Russia's Muslim Heartlands
Dominic Rubin, Oxford
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Brief scores:
Kashima Antlers 0
River Plate 4
Zuculini 24', Martinez 73', 90 2', Borre 89' (pen)
The%20Woman%20King%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Gina%20Prince-Bythewood%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Viola%20Davis%2C%20Thuso%20Mbedu%2C%20Sheila%20Atim%2C%20Lashana%20Lynch%2C%20John%20Boyega%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Asia Cup Qualifier
Final
UAE v Hong Kong
TV:
Live on OSN Cricket HD. Coverage starts at 5.30am
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
MATCH INFO
Manchester United 2 (Heaton (og) 42', Lindelof 64')
Aston Villa 2 (Grealish 11', Mings 66')
Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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South Korea
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
More on Quran memorisation:
SPECS
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