The Chevrolet Malibu is comfortable and stylish.
The Chevrolet Malibu is comfortable and stylish.

2010 Chevrolet Malibu LTZ



Last week, General Motors announced a milestone: it had paid off the remaining US$5.8 billion (Dh21bn) it had "borrowed" from the US and Canadian governments when it was bailed out of bankruptcy last year. "GM's ability to pay back loans is a sign our plan is working," said the company's CEO, Ed Whitacre. Sunny news indeed from the US car maker. (This of course, is besides the fact that, according to the Detroit Free Press, some US senators are saying that the company actually used another loan to pay off this one; kind of like using one credit card to pay off another. What's wrong with that? I do it all the time.)

Part of the reason for the quick turnaround, according to Whitacre, is GM's improved product lineup, and the Chevrolet Malibu falls smack in the middle of that lot. Launched last year, the car is an important one for GM in a popular saloon market already dominated by the Toyota Camry and Honda Accord. To make an impact, you've got to have something that stands out from the crowd. And, as far as looks are concerned, the Malibu delivers. No one would mistake this for a Lamborghini, but its got a modern style that's more than just pleasing to the eye; I think its cohesive design is better looking than both top offerings from Japan.

The 3.6L V6 supplies ample power for the Malibu; it's no scorcher, by any means, but I didn't find it underpowered at all. It's a little rough around the edges, though - at higher rpm under load, it tends to make a bit of noise and rattle, though not unnervingly so. But it's spritely in town and on the motorway, and I was surprised to find I had to keep an eye on the speedometer to keep it at a reasonable pace.

Part of that is because of the ride. It stays calm and composed, even at speed, absorbing bumps and cossetting the passengers. It's also eerily quiet inside the cabin, especially at motorway speeds; more so than other cars in its class. Its silence alone is enough to make the Malibu feel like a luxury saloon a few steps higher in class. The six speeds of the automatic gearbox help smooth out shifting and power delivery, and it seems to work well; rarely was I wishing I was in a different gear. But the manual option with the steering wheel-mounted paddle shifters is, simply, ridiculous. This is not a car you would want to drive in a sporting manner, so why bother with paddle shifters? Especially when, in automatic mode, the shifters don't function, which is when I would actually want them the most on this car - for those times you need to downshift for extra oomph when passing or such. Don't pretend this is a sports car, Chevrolet; there is no need for these at all.

The interior is both strikingly different and more of the same GM. It's good in that it's a creative design using contrasting colours and materials; the basic black is broken up with swathes of colour and aluminum-look plastic, and it does break up the humdrum. And I say this despite being a little taken aback by the trim colour, which can only be described as a terracotta orange and a little out of place here.

The bad, however, is in the details. The plastic is on the cheap side, and the quality just isn't up to par with its Japanese competitors: switches move around in their sockets, and I was actually able to remove two trim pieces completely with just my fingers (and I only tried to in the first place because they were loose already). There were some nice touches inside: soft, teal mood lighting, a USB connector on the stereo (though, its removable rubber cover would be lost in a week), a cavernous centre console box and big, comfy, leather seats (again, with touches of orange that looked like it came from a basketball) that are electrically adjustable. The only feature glaring in its omission is an array of parking sensors, which you would imagine would be very handy on a family car - especially with the state of parking here.

But one feature I did enjoy was the sunroof. When open, even at motorway speeds, the shield deflector that pops up does an exceptional job of keeping the inside quiet and calm; I spent a few seconds moving it up and down myself just to see the difference, and it's remarkable. Yeah, it's a small detail, but it does such a good job it was worth mentioning. Another area that impressed was the boot. It's absolutely cavernous - forget the old golf-bag comparison test; you could fit a whole golf cart inside it. For a car aimed at families, it's a handy feature.

The Malibu isn't an exciting car, no matter what anyone at GM says. But that's not really a bad thing. It's not meant to tear up the streets, boy racer style; it's meant to move families in comfort, with a bit of style to make it stand out in an already crowded market of four-door saloons. And, job done, in that regard. If GM could bring its quality standards up just a notch or two, the Malibu would be a clear winner. nvorano@thenational.ae

Director: Nag Ashwin

Starring: Prabhas, Saswata Chatterjee, Deepika Padukone, Amitabh Bachchan, Shobhana

Rating: ★★★★

Bournemouth 0

Manchester United 2
Smalling (28'), Lukaku (70')

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.”

Most wanted allegations
  • Benjamin Macann, 32: involvement in cocaine smuggling gang.
  • Jack Mayle, 30: sold drugs from a phone line called the Flavour Quest.
  • Callum Halpin, 27: over the 2018 murder of a rival drug dealer. 
  • Asim Naveed, 29: accused of being the leader of a gang that imported cocaine.
  • Calvin Parris, 32: accused of buying cocaine from Naveed and selling it on.
  • John James Jones, 31: allegedly stabbed two people causing serious injuries.
  • Callum Michael Allan, 23: alleged drug dealing and assaulting an emergency worker.
  • Dean Garforth, 29: part of a crime gang that sold drugs and guns.
  • Joshua Dillon Hendry, 30: accused of trafficking heroin and crack cocain. 
  • Mark Francis Roberts, 28: grievous bodily harm after a bungled attempt to steal a+£60,000 watch.
  • James+‘Jamie’ Stevenson, 56: for arson and over the seizure of a tonne of cocaine.
  • Nana Oppong, 41: shot a man eight times in a suspected gangland reprisal attack. 
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Could We Be More

Artist: Kokoroko
Label: Brownswood Recordings
Rating: 3.5/5


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