Lexus isn’t traditionally a brand you’d associate with the more extreme variants of motorsport, what with its reputation for lurking at the luxury end of the motor trade. It seems that’s now a thing of the past, though, as the Japanese manufacturer is dipping its usually delicately clad foot into the frantic and smoke-filled world of drifting.
Look through the photo gallery above to see more of Lexus on the tracks in Dubai.
This sport doesn’t require a massive introduction. For many, it means you just drive fast around a corner, lose traction, then laugh insanely at the amusement value of it all. Even Mr Bean could have a bash at it, or so the thinking goes.
That kind of behaviour is just for we amateurs, though – there are men and women who do drifting properly. Ahmad Daham, who has been announced as brand ambassador for the Lexus F range, is one such person. He is five-time Middle East Drift Champion and a Guinness World Record-holder to boot.
To mark his appointment, the Jordanian gave a demonstration of the noble art of sliding sideways at Dubai Autodrome, unveiling at the same time his new Lexus RC F Pro Drift car, a vehicle that has been designed with his specific requirements in mind. And it’s what he’ll use in global events and competitions over the coming year. The custom-built vehicle is lightweight and can generate a scarcely credible 844hp from its supercharged, home-grown Lexus power plant.
The demonstration, where the driver took a series of suitably ashen-faced individuals out for a spin (at least they were looking rather pale by the end of it), took a while. You don’t produce that much smoke and noise without doing some serious damage to your tyres. A set lasted around four laps of the short racetrack, necessitating regular replacements.
Drifting as a pastime dates back to Japan in the 1970s, where participants would rub tyres raw engaging in controlled power slides around corners on downward slopes. Daham got interested in the sport in 2011, when he was 24 years old. Now, he can boast some serious pedigree – alongside 60 podium finishes over the years, he holds the world record for the longest twin drift, a stunt which sees two cars travelling in sync while going sideways. He gained this accolade on UAE soil at Global Village in Dubai, with the help of fellow lateral driver James Deane.
Lexus F denotes the range of high-performance cars produced by the carmaker. The F apparently stands for Flagship, or Fuji, which is the speedway in Oyama, Japan, that is mostly used by the manufacturer to test its speediest vehicles. The brand is distributed in the UAE by Al-Futtaim Lexus.
With the new collaboration, Daham is looking forward to the season ahead. “This car is so much fun to drive, and I cannot wait to push it to its limit,” he said.
Daham will be officially debuting the RC F at Britain’s Goodwood Festival of Speed 2019, which is in July. One suspects shares in tyre supplier Toyo will look considerably healthier with all the extra rubber the team will need for that little jaunt.
COMPANY%20PROFILE
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Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
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.”
Results
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INDIA'S%20TOP%20INFLUENCERS
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UAE%20SQUAD
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The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now
UAE currency: the story behind the money in your pockets
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km