Speeding supercars: The world's biggest traffic fines



This week, a man who rented a Lamborghini Huracan from a luxury-car rental business in Dubai clocked up an astounding 33 tickets in the space of four hours, hitting speeds of 230kph, with his total fines hitting Dh175,000.

That is nowhere near the highest financial penalty ever handed out across the world for motoring offences, however.

The stakes are particularly high in European nations such as Finland and Switzerland, which take into account the earnings of those in the dock – millionaires, therefore, have had to pay fines running into the equivalent of millions of dirhams.

Swipe through our gallery above to see some of the worst offenders.

The UAE is no stranger to traffic fines even larger than this latest incident, either, with one man reported to have tallied Dh300,000 of fines in 2013. It's all a far cry from what is widely thought to be the first ever speeding ticket in 1896, when British driver Walter Arnold was nabbed for speeding at 8mph (13kph) in a 2mph (3kph) zone. He was fined one shilling, plus costs.

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Read more:

Speeding is Dubai's most common traffic violation for 2018 so far

Complete list of UAE traffic offences and penalties

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TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

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.”

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.

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

The Boy and the Heron

Director: Hayao Miyazaki

Starring: Soma Santoki, Masaki Suda, Ko Shibasaki

Rating: 5/5

SCORES IN BRIEF

Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).

THE STRANGERS' CASE

Director: Brandt Andersen
Starring: Omar Sy, Jason Beghe, Angeliki Papoulia
Rating: 4/5

Sustainable Development Goals

1. End poverty in all its forms everywhere

2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

3. Ensure healthy lives and promote well-being for all at all ages

4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

5. Achieve gender equality and empower all women and girls

6. Ensure availability and sustainable management of water and sanitation for all

7. Ensure access to affordable, reliable, sustainable and modern energy for all

8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10. Reduce inequality within and among countries

11. Make cities and human settlements inclusive, safe, resilient and sustainable

12. Ensure sustainable consumption and production patterns

13. Take urgent action to combat climate change and its effects

14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development

15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

17. Strengthen the means of implementation and revitalise the global partnership for sustainable development

Glossary of a stock market revolution

Reddit

A discussion website

Redditor

The users of Reddit

Robinhood

A smartphone app for buying and selling shares

Short seller

Selling a stock today in the belief its price will fall in the future

Short squeeze

Traders forced to buy a stock they are shorting 

Naked short

An illegal practice  

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

EA Sports FC 24

Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, PC and Xbox One
Rating: 3.5/5

Company Profile

Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000

FORSPOKEN

Developer: Luminous Productions
Publisher: Square Enix
Console: PC, PS5
Release date: January

Company of Heroes 3

Developer: Relic Entertainment
Publisher: SEGA
Console: PC, PS5, XSX
Release date: February

Star Wars Jedi: Survivor

Developer: Respawn Entertainment
Publisher: Electronic Arts
Console: PC, PS5, XSX
Release date: March

Suicide Squad: Kill the Justice League

Developer: Rocksteady Studios
Publisher: Warner Bros
Console: PC, PS5, XSX
Release date: May

Final Fantasy XVI

Developer: Square Enix
Publisher: Square Enix
Console: PS5
Release date: June

Street Fighter 6

Developer: Capcom
Publisher: Capcom
Console: PS5, XSX, PC
Release date: June

Diablo IV

Developer: Blizzard Entertainment
Publisher: Blizzard Entertainment
Console: PC, PS5, XSX
Release date: June

Baldur's Gate 3

Developer: Larian Studios
Publisher: Larian Studios
Console: PC
Release date: August

The Legend of Zelda: Tears of The Kingdom

Developer: Nintendo
Publisher: Nintendo
Console: Nintendo Switch
Release date: September

Marvel's Spider-Man 2

Developer: Insomniac Games
Publisher: PlayStation
Console: PS5
Release date: Fall

Assassin's Creed Mirage

Developer: Ubisoft
Publisher: Ubisoft
Console: PC, PS5, XSX, Amazon Luna
Release date: 2023

Starfield

Developer: Bethesda Game Studios
Publisher: Bethesda Softworks
Console: PC, Xbox
Release date: 2023


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