California Chrome, ridden by Victor Espinoza, wins the Dubai World Cup at Meydan last year. Kaz Ishida / Eclipse Sportswire / Getty Images
California Chrome, ridden by Victor Espinoza, wins the Dubai World Cup at Meydan last year. Kaz Ishida / Eclipse Sportswire / Getty Images

To achieve racing success, many challenges need to be overcome



Often there are questions that may seem too basic to ask, and the books and accounts on horse racing are too specialist to explain to a newcomer what this incredible sport is all about. I hope that my words will help share the sport with a greater audience.

Horses possess at their core an essential honesty.

They will never fake an injury or illness to avoid work. This disarming quality is what draws so many people to them. Emotionally, they have no hesitation in revealing their fears and insecurities.

It could be said that a horse is an open book, but that means little unless we can understand the language.

The finest horsemen and women have what seems to be an intuitive ability to read a horse. We might call it a gift, but for most it has come from a lifetime working with, and observing, horses.

The racing success of a thoroughbred requires that its mental, physical and nutritional needs are met.

The men and women who undertake this role are called trainers – a rather simple term for a complex job that requires them to be an athletics coach, nutritionist, manager and equine psychologist all rolled into one.

They need to be good communicators, too, because racehorse owners will be keen to get regular updates on the training of their animal.

The best trainers have a love of the thoroughbred and are dedicated to the racing industry. They employ a raft of people to ride and care for the horses. Horses are the largest employers of the animal world; they employ per one head between three and five people. Even for a small farmer in a developing country, the minimum employment for a horse is a vet, a blacksmith and a person to feed and care. In the larger racing stables, the average is five people.

Trainers need track riders, who will exercise the horse most days under the trainer’s direction, as well as people who clean up after the horses and provide the regular meals, which will be carefully formulated to provide balanced nutrition.

And let’s not forget a constant stream of visitors – the veterinarians, farriers and assorted therapists tasked with keeping the horses in top condition.

Horses may be remarkable athletes, but the strains of running at speeds of more than 60 kph can take a toll on their muscles, ligaments and tendons.

There are literally dozens of practitioners who may be called upon to help these horses perform, including massage therapists, equine chiropractors, acupuncturists, magnetic therapists, laser therapists, equine osteopaths and physiotherapists.

There are elements of racehorse training that seem almost universal. The track work – the daily exercise routine – invariably unfolds first thing in the morning, often around dawn.

The rest of the day revolves around the wider care of the horses.

However, it will ultimately be the ability of each trainer to “read” a horse – how best to feed it, train it and cater to its mental health, that will determine race day success.

Horses are awe-inspiring athletes but they are not machines. Trainers who ignore their mental well-being will struggle to succeed.

It might be as simple as spotting when a horse might need an extra day off. In some parts of the world, it might be a gentle gallop away from the track on a heath, or even a walk along a beach. Like most athletes, humans included, beach work helps the horse’s state of mind, but also heals tendon injuries and tightens up their delicate legs.

Preparations for a horse are fine-tuned as a race nears. Again, the ability of trainers to get their horses to peak at the right time will determine success. There is nowhere to hide once a horse lines up in the starting gates. The success or failure of that preparation will be judged in a matter of minutes as the long-striding thoroughbreds spring around the track.

Training and care comes at a cost. Owners receive bills and they can be quite substantial, even more so when health problems arise. The caregivers, therapists and track riders need to be paid. Feed needs to be bought. Jockeys on race day will be paid, regardless of whether they ride to success.

The talent to bring out the best in thoroughbreds is to be admired, but trainers can never afford to ignore the fact that racing is a business-driven model.

Those who struggle to deliver results on the track – which in turn delivers prize money for the owner (and a percentage for themselves) – are unlikely to stay in business long.

Those who enjoy track success will attract better horses and better resourced owners, with the cash to buy well-bred horses who arguably have a better chance of success. The effect can quickly snowball. Some trainers build successful multimillion-dollar businesses that employ dozens of people.

The trainers in charge of the world-leading horses who will race in the Dubai World Cup meeting have additional challenges. Horses tend to thrive in routines, and flying them in for a high-stakes race requires careful planning, right down to ensuring they continue to receive their familiar diet.

Some horses can be relocated months before a big race to ensure they are settled and ready for race day. Others prefer to ship them in the shortest possible time before the race and avoid acclimatisation; this entirely depends on the financial situation of the trainer and indeed the well-being of the horse and its ability to perform best.

So, you will see why the term “trainer” fails to adequately explain the broad nature of the role. They not only need to have the innate skills and intuition of a horseman, but also face the daily challenges of running a business and employing staff, and a fair understanding of transport and logistics.

However, above all else, it is the special ability to understand a horse, using all their experience to assess whether it is perhaps a little sore or in need of some special attention, that separates the good trainers from the great trainers.

Trainers live for racing and get the same thrill from winning as their owners. They receive a share of the prize money, too, which provides added incentive to do well.

The job is awash with challenges and it takes a special kind of person to succeed. It comes with immense frustrations. There are the soaring highs that come with success, and the harrowing lows when plans come unstuck. Trainers the world over wouldn’t change a thing. For, without all of that, it wouldn’t be racing.

Princess Haya bint Al Hussein is the wife of Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. She competed at the Sydney Olympic Games in showjumping and has served as the President of the International Equestrian Federation and as a member of the International Olympic Committee

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

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

MATCH DETAILS

Barcelona 0

Slavia Prague 0

WHAT IS THE LICENSING PROCESS FOR VARA?

Vara will cater to three categories of companies in Dubai (except the DIFC):

Category A: Minimum viable product (MVP) applicants that are currently in the process of securing an MVP licence: This is a three-stage process starting with [1] a provisional permit, graduating to [2] preparatory licence and concluding with [3] operational licence. Applicants that are already in the MVP process will be advised by Vara to either continue within the MVP framework or be transitioned to the full market product licensing process.

Category B: Existing legacy virtual asset service providers prior to February 7, 2023, which are required to come under Vara supervision. All operating service proviers in Dubai (excluding the DIFC) fall under Vara’s supervision.

Category C: New applicants seeking a Vara licence or existing applicants adding new activities. All applicants that do not fall under Category A or B can begin the application process through their current or prospective commercial licensor — the DET or Free Zone Authority — or directly through Vara in the instance that they have yet to determine the commercial operating zone in Dubai. 

Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

A Cat, A Man, and Two Women
Junichiro
Tamizaki
Translated by Paul McCarthy
Daunt Books 

How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

A Long Way Home by Peter Carey
Faber & Faber

Stamp duty timeline

December 2014: Former UK chancellor of the Exchequer George Osborne reforms stamp duty land tax (SDLT), replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:

Up to £125,000 – 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; More than £1.5m – 12%

April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.

July 2020: Chancellor Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.

March 2021: Mr Sunak extends the SDLT holiday at his March 3 budget until the end of June.

April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.

June 2021: SDLT holiday on transactions up to £500,000 expires on June 30.

July 2021: Tax break on transactions between £125,000 to £250,000 starts on July 1 and runs until September 30.

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

UAE currency: the story behind the money in your pockets
How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
JOKE'S ON YOU

Google wasn't new to busting out April Fool's jokes: before the Gmail "prank", it tricked users with mind-reading MentalPlex responses and said well-fed pigeons were running its search engine operations .

In subsequent years, they announced home internet services through your toilet with its "patented GFlush system", made us believe the Moon's surface was made of cheese and unveiled a dating service in which they called founders Sergey Brin and Larry Page "Stanford PhD wannabes ".

But Gmail was all too real, purportedly inspired by one – a single – Google user complaining about the "poor quality of existing email services" and born "millions of M&Ms later".

AS IT STANDS IN POOL A

1. Japan - Played 3, Won 3, Points 14

2. Ireland - Played 3, Won 2, Lost 1, Points 11

3. Scotland - Played 2, Won 1, Lost 1, Points 5

Remaining fixtures

Scotland v Russia – Wednesday, 11.15am

Ireland v Samoa – Saturday, 2.45pm

Japan v Scotland – Sunday, 2.45pm

Buy farm-fresh food

The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.

In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others. 

In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food. 

In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra. 

Biography

Favourite book: Zen and the Art of Motorcycle Maintenance

Holiday choice: Anything Disney-related

Proudest achievement: Receiving a presidential award for foreign services.

Family: Wife and three children.

Like motto: You always get what you ask for, the universe listens.

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

'The Predator'
Dir: Shane Black
Starring: Olivia Munn, Boyd Holbrook, Keegan-Michael Key
Two and a half stars