The specs
Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
Price: from Dh130,000
On sale: now
A few of my formative years were spent in Tanzania in the mid-1970s, and one of my enduring memories from this period is of the plethora of Peugeot 404s and 504s plying the lumpy, potholed roads of Dar es Salaam. There was a reason for the Gallic brand’s popularity in the region: its cars were not only capable and comfortable, but also able to withstand the sustained pounding inflicted by the awful roads there at the time.
Peugeot seemed to lose its mojo in the noughties, churning out a succession of cars that were frumpy to look at and uninspiring to drive. Fortunately, the French marque has emphatically reversed the slide over the past few years, as its latest offerings (notably the 3008 and 5008 crossovers) reprise the elegant sense of style and supple ride that were former hallmarks of cars wearing the lion logo.
The 508 GT is the latest range-topping addition to the medium-large 508 sedan line-up.
Punchy performance
Priced at Dh130,000 ($35,398), the GT comes loaded with bells and whistles, but among its headline features is a 1.6-litre turbo motor that’s substantially uprated to eke out 217 horsepower and 300Nm (increases of 52hp and 60Nm over regular 508 models). Another element that’s unique to the flagship sedan is an eight-speed auto, in lieu of the six-speeder found in lesser 508s.
There’s a great sense of refinement in the way it goes about its work. A 1.6-litre turbo engine might seem small for a car of this size, but it punches well above its weight, and its 300Nm torque quota arrives early on, so there’s no need to rev the living daylights out of it. As a result, even brisk progress can be achieved without getting the decibel level soaring.
The chassis is also well sorted, serving up a nice balance between ride and handling. The GT lives up to its Grand Touring billing as you can hustle it through corners at a decent pace without any hint of tyre squeal or understeer.
It stays flatter and more composed than most contenders in this segment, and retains the suppleness to soak up road surface imperfections and speed humps without transmitting them through to the cabin.
It’s worth pointing out that the 508 GT I tested was equipped with 18-inch alloys shod with Michelin Pilot Sport 4 tyres, but MY22 cars, which arrive from March onward, will be fitted with 19-inch rims as standard.
It’s got the looks
It only takes a few seconds to glean that the 508 recaptures the impeccable sense of style of ancestors such as the 504 Coupe. Most three-box sedans are yawn-inducing in the visual department, but the 508 has genuine wow factor and manages to look far more expensive than it actually is.
There’s a lovely taper to the profile and – although the 508 has a conventional boot – the roofline sweeps down in a clean, uninterrupted line to culminate in a sharp-edged lip at the rear of the bootlid. There are well-executed creases and bulges all over, and the way the daytime-running-light extends downward into the front spoiler to mimic a lion’s claw is a clever piece of design.
The cabin is also notably stylish and opulent for this segment, and the 508 GT’s living quarters aren’t that far off matching the interior ambience of German prestige sedans. All the touch-and-feel elements are nicely crafted, and there’s no sense of cheapness in any of the materials used.
The 12.3-inch central touchscreen for infotainment, vehicle settings and ventilation controls is intuitive to use, and touching it with three fingers simultaneously enables you to easily switch between the various menus. One criticism is that the tiny PlayStation-esque steering wheel, while nice to hold, obscures the bottom third of the instrument gauge cluster.
Overall, though, the 508 GT serves as further proof that Peugeot has rediscovered its best form. You’d be hard-pressed to find another sedan with more style and panache at this price point.
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Man of the Match: Djibril Sidibe (Everton)
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Federer's 19 grand slam titles
Australian Open (5 titles) - 2004 bt Marat Safin; 2006 bt Marcos Baghdatis; 2007 bt Fernando Gonzalez; 2010 bt Andy Murray; 2017 bt Rafael Nadal
French Open (1 title) - 2009 bt Robin Soderling
Wimbledon (8 titles) - 2003 bt Mark Philippoussis; 2004 bt Andy Roddick; 2005 bt Andy Roddick; 2006 bt Rafael Nadal; 2007 bt Rafael Nadal; 2009 bt Andy Roddick; 2012 bt Andy Murray; 2017 bt Marin Cilic
US Open (5 titles) - 2004 bt Lleyton Hewitt; 2005 bt Andre Agassi; 2006 bt Andy Roddick; 2007 bt Novak Djokovic; 2008 bt Andy Murray
WWE TLC results
Asuka won the SmackDown Women's title in a TLC triple threat with Becky Lynch and Charlotte Flair
Dean Ambrose won the Intercontinental title against Seth Rollins
Daniel Bryan retained the WWE World Heavyweight Championship against AJ Styles
Ronda Rousey retained the Raw Women's Championship against Nia Jax
Rey Mysterio beat Randy Orton in a chairs match
Finn Balor defeated Drew McIntyre
Natalya beat Ruby Riott in a tables match
Braun Strowman beat Baron Corbin in a TLC match
Sheamus and Cesaro retained the SmackDown Tag Titles against The Usos and New Day
R-Truth and Carmella won the Mixed Match Challenge by beating Jinder Mahal and Alicia Fox
Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
UAE currency: the story behind the money in your pockets
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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.”
The specs
Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
Price: from Dh130,000
On sale: now