I last piloted a Volkswagen Golf GTI back in 2007 and it was proof indeed that the engineers at Wolfsburg are still hitting all the right marks with their legendary hot hatch. It was fast, slick, powerful and suitably attention-grabbing.
The version I had tested was a sexy black two-door with red brake calipers and, when I was stopped at a red light in a Bur Dubai traffic jam, a passing man enthusiastically took out his camera. I had to tell my somewhat self-absorbed passenger that he was snapping the car and not her.
The Mark 5 was such an attractive car, the man with the camera probably wouldn't have noticed if Charlize Theron was driving with Heidi Klum in the passenger seat.
The latest incarnation, the Mark 6, has similar good looks with a more aggressive grille and bold alloy wheels. My GTI was dark gun-metal grey - or Carbon Steel Grey, to use the name in brochure - again with the red brake calipers peeking out. While I would have preferred a two-door to the four-door I was testing, it is still a seriously stylish hatch. The base-model Golf appears to have been designed on a lazy day with the creative types reserving all their energies for the much-loved GTI.
Inside, the attention to detail is a joy and it really earns its Dh125,000 price tag - red stitching on the black leather of the gear shifter and steering wheel, metal pedals, intuitive AC and audio, stylised racing-type seats that manage to be comfortable and sporty, and a surprising amount of room in the back and the boot.
If you didn't want to give up driving a performance car once the kids have come along, the four-door would be a good compromise - there is enough room for a baby seat in the back and a pram folded in the spacious boot, excellent traction control (Vee-Dub's very well-engineered electronic stabilisation programme, or ESP) and the solid feel of a front-wheel drive to keep a nervous partner or grandparent happy.
Fuel economy is recession-friendly - driving from Dubai to Abu Dhabi and back again, along with sundry buzzing around town, used less than three-quarters of a tank of petrol.
The excellent reversing camera and parking sensors are additional Captain Sensible features which may help convince significant others that a GTI is not just a car for the young, free and single.
But there are also enough thrills to be had with 210hp from the 2.0L turbo under the hood, and it is pretty obvious that hours and hours have been spent making sure plenty of involving noises are produced.
Taking off from the lights - and leaving your fellow motorists wondering where you've gone - creates a satisfying howl. The six-speed gearbox shifts quickly but audibly in automatic mode.
When you put the car into manual mode and shift either with the gear selector or using the light-as-a-feather paddle shifters, evocative sighs and growls add to the fun.
This gearbox is one of the best compromises on the market between the fun and control of a manual and the convenience of an automatic transmission. The gear changes feel sure and, if you like to pretend you're in a Grand Prix, Volkswagen's paddle shifters are ergonomically pleasing.
The electronic differential lock function has been extended and is now called "electronic differential lock XDS". Basically, the XDS kicks in during fast cornering and applies brake pressure from the ESP to the inner front wheel and is meant to reduce understeer. However, as is often the case with a front wheel drive, understeer can never be eliminated altogether. If you do enjoy throwing it around corners, you probably won't lose control of the car, thanks to the ESP and XDS, but you may well be aware of a hint of understeer.
Still, when you are blazing down the highway and overtaking everything in sight, your main concerns will be not getting caught by the speed camera, or having your passenger hide silently behind a newspaper before asking you to please slow down.
It's hard to drive the GTI in a sensible fashion, although it is not quite as barking mad as Volkswagen's other tremendous hot hatch, the R32, which offers 240hp, a V6 engine and the guarantee of a permanent maniacal leer while at the wheel.
The GTI isn't quite that silly, but there is still enough going on under the bonnet and the option of being involved in the gear changes to make it a pleasure to drive. It has both style and substance, a rarity in an era where many segments in the market are populated with interchangeable yawn-mobiles.
The GTI isn't cheap - if you want a cheap hatchback, buy a Toyota Yaris or a Nissan Tiida. But those two serviceable snore-fests won't be the cars you'll look back on fondly when you're old, grey and it's time to hand in your licence.
You can be assured though that the GTI will be the motor that makes you muse to your nursing home chums: "I loved that car". This is true of all the GTIs since 1975 and, thankfully, the tradition is continuing, albeit with added luxuries.
glewis@thenational.ae
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.”
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Temple numbers
Expected completion: 2022
Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time
First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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
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UAE cricketers abroad
Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.
Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.
Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Women's Prize for Fiction shortlist
The Silence of the Girls by Pat Barker
My Sister, the Serial Killer by Oyinkan Braithwaite
Milkman by Anna Burns
Ordinary People by Diana Evans
An American Marriage by Tayari Jones
Circe by Madeline Miller
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
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