19th hole: Kim happy with Middle East sojourn



Opting to leave his trademark glittering belt buckle at home in Texas, talented 24-year-old Anthony Kim instead used his golf clubs to catch the eye yesterday. The world No 24, who last season decided to split his time between the European and PGA tours, looked comfortable and composed in the Emirates, showing his ever-growing gallery exactly why he is developing into one of the biggest draws in America.

Making his first appearance in the Middle East this week, Kim said after his two-under par 70 second round that the National Course layout reminded him of Palm Springs. It was an off-the-cuff observation, but it may not be too well-received back home, where some of Kim's critics claim he should not have been here in Abu Dhabi. The annual Bob Hope Classic is taking place this weekend in La Quinta - 16 miles from Palm Springs - and with Kim having attended school in the resort city, the PGA Tour had hoped he would add his sparkle to a flailing sponsor-hungry tournament.

Scott McCarron, the American golfer who, as well as playing on the PGA Tour, also advises on its players' council, said Kim should have shown loyalty to the American tour and played in the Hope instead of "chasing money over in Abu Dhabi". Instead the confident, if at times controversial, Californian opted to ask for a "conflicting events release" to play in the Emirates. It was granted. Kim, who caused a stir the last time he was linked with an appearance in the UAE - he left it until the week of the event before pulling out of the European Tour's season-ending Dubai World Championship - intimated yesterday that he has no regrets about his Middle East excursion this time around and revealed he feels fortunate to be invited.

"I completely understand the Tour is losing sponsors, but unfortunately I couldn't be [there]," he said after finalising a four-under finish going into today's penultimate round. "I really wish I was [at the Bob Hope], but this is such a great tournament, I didn't want to pass up the opportunity. I always wanted to come to this part of the world and feel lucky to be here right now." Those watching him as he walked the 7,510 yards around the course will at times have felt equally as privileged to see him in action. Stepping up to the tee on the first, he watched his drive swing wayward to the left landing in some potentially tricky sand.

But, having dusted himself down, he drilled an absolutely wonderful approach shot to land within 10 yards of the pin, tapping in with ease. Yet dressed in a prim pink polo shirt, it was only his play on the greens - and perhaps some mischievous remarks from Darren Clarke - that left him red-cheeked. His putter let him down for the majority of the afternoon, but when he judged it right - as he did on the first, second and 11th, notching birdies - he looked formidable.

"I didn't get many putts to fall," he said. "But I think they'll fall this weekend and I just have to keep my head down. For the first tournament of the year, you're going to be a little rough, but I'm expecting to knock that off pretty soon. [My game is] not perfect, but it's getting there." Which is positive news for Abu Dhabi, good news for the European Tour and great news for Kim. But not so for the organisers of the Hope, who yesterday endured another day of torrential rain that even Kim's belt would have struggled to shine in.

After his Abu Dhabi decision he can expect an equally tempestuous welcome on his return back Stateside. @Email:gmeenaghan@thenational.ae

The specs
Engine: 2.5-litre, turbocharged 5-cylinder

Transmission: seven-speed auto

Power: 400hp

Torque: 500Nm

Price: Dh300,000 (estimate)

On sale: 2022 

The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 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.”

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

The bio

Who inspires you?

I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist

How do you relax?

Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.

What is favourite book?

The Perks of Being a Wallflower - I think I've read it more than 7 times

What is your favourite Arabic film?

Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki

What is favourite English film?

Mamma Mia

Best piece of advice to someone looking for a career at Google?

If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.  

 

What's in the deal?

Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024

India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.

India will also cut automotive tariffs to 10% under a quota from over 100% currently.

Indian employees in the UK will receive three years exemption from social security payments

India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery

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

ICC Women's T20 World Cup Asia Qualifier 2025, Thailand

UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final

Why seagrass matters
  • Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
  • Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
  • Biodiversity: Support species like sea turtles, dugongs, and seabirds
  • Coastal protection: Reduce erosion and improve water quality
'Gold'

Director:Anthony Hayes

Stars:Zaf Efron, Anthony Hayes

Rating:3/5

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills