• UFC president Dana White before the ceremonial weigh-in for UFC 267 at Etihad Arena, Yas Island, Abu Dhabi. Chris Whiteoak / The National
    UFC president Dana White before the ceremonial weigh-in for UFC 267 at Etihad Arena, Yas Island, Abu Dhabi. Chris Whiteoak / The National
  • UFC president Dana White speaks at the press conference for UFC 267. Chris Whiteoak / The National
    UFC president Dana White speaks at the press conference for UFC 267. Chris Whiteoak / The National
  • UFC president Dana White speaks at the press conference for UFC 267. Chris Whiteoak / The National
    UFC president Dana White speaks at the press conference for UFC 267. Chris Whiteoak / The National
  • UFC president Dana White speaks at the press conference for UFC 267. Chris Whiteoak / The National
    UFC president Dana White speaks at the press conference for UFC 267. Chris Whiteoak / The National
  • UFC president Dana White at the press conference before UFC 267. Chris Whiteoak / The National
    UFC president Dana White at the press conference before UFC 267. Chris Whiteoak / The National
  • Dana White and Khabib Nurmagomedov following the Russian fighter's win over Justin Gaethje at UFC 254 in Abu Dhabi. Chris Whiteoak / The National
    Dana White and Khabib Nurmagomedov following the Russian fighter's win over Justin Gaethje at UFC 254 in Abu Dhabi. Chris Whiteoak / The National
  • Dana White during UFC 251 at Flash Forum on UFC Fight Island on July 12, 2020. Zuffa LLC
    Dana White during UFC 251 at Flash Forum on UFC Fight Island on July 12, 2020. Zuffa LLC
  • Dana White inside the decorative octagon in Abu Dhabi during UFC Fight Island.
    Dana White inside the decorative octagon in Abu Dhabi during UFC Fight Island.

Dana White: new Abu Dhabi deal would represent 'total game-changer for all combat sports'


John McAuley
  • English
  • Arabic

UFC president Dana White says he is “beyond excited” by the new deal he is close to completing with Abu Dhabi, describing it as a “total game-changer for all of combat sports, not just the UFC”.

White, in the capital this week for UFC 267, told The National on Friday night that he would be holding meetings before the promotion's latest event on Saturday to finalise the plans, and look to announce the news directly after the fight night concludes at Etihad Arena. White has been teasing “massive, major” plans for Abu Dhabi for the past few months, without giving away any details.

“I’m beyond excited,” he said. “We get this deal done, it’s a total game-changer for all of combat sports, not just the UFC.”

The UFC’s relationship with Abu Dhabi has strengthened considerably since the two parties signed a five-year partnership in April 2019 – the agreement was to stage one major event in the emirate each year through to 2023 – and with the Fight Island series introduced last year in response to the coronavirus pandemic.

“Our relationship couldn’t be better.” White said on Friday. “I have a big meeting tomorrow and hopefully it’s going to get a lot better. I’m excited to share with everybody what we’re working on here. I’ve just got to get the deal done.

Asked how near to completion the negotiations were, White said: “We’re right there. I’m hoping that I can get it done tomorrow, and not announce everything, but announce a lot of it to you guys on Saturday after the fight.

“The deals that we’re working on, it’s massive. I’ve been calling Abu Dhabi the fight capital of the world because Las Vegas [wimped] out during the pandemic, I’ll say. The moves that we’re making over here and the things that we’re going to do are just going to solidify the fact that that’s this place.

“We’re going to continue to grow this market, look for talent out of this region, grow the fan base over here, and grow the events. Now we have our own arena here, all the pieces are falling into place now for us to start putting on not only massive fights, but international fight week here and lots of other things that we’re working on.”

During the inaugural Fight Island in July last year – the concept was created by White to allow the UFC’s international athletes to compete during the pandemic – White said he had been viewing houses to buy in Abu Dhabi.

On whether he had finally agreed on a purchase, he said: “No, I haven’t bought a house here yet. When I was getting ready to do that it was during the pandemic. I haven’t been here in nine or 10 months.

"But that all plays into what’s coming up on Saturday. There’s so much more. Once I can tell you guys everything, you’ll get it.”

Dana White presented with UAE golden visa ahead of UFC 267

  • UFC president Dana White receives his golden visa ahead of the ceremonial weigh-in for UFC 267 in Abu Dhabi. All photos: DCT Abu Dhabi
    UFC president Dana White receives his golden visa ahead of the ceremonial weigh-in for UFC 267 in Abu Dhabi. All photos: DCT Abu Dhabi
  • Dana White looks at his golden visa after receiving it in Abu Dhabi.
    Dana White looks at his golden visa after receiving it in Abu Dhabi.
  • Dana White waves his passport in the air after receiving his golden visa.
    Dana White waves his passport in the air after receiving his golden visa.
  • Dana White displays his golden visa.
    Dana White displays his golden visa.

On Friday night, White was presented with a UAE golden visa by the Department of Culture and Tourism.

UFC 267 marks the promotion’s return to Abu Dhabi for the first time since January. It features two title bouts: Jan Blachowicz’s light-heavyweight title defence against No 1-ranked contender Glover Teixeira, and the interim bantamweight championship clash between former champion Petr Yan and No 3-ranked challenger Cory Sandhagen.

Other notable bouts on a stacked card include Islam Makhachev against Dan Hooker, and Khamzat Chimaev’s long-awaited return against Li Jingliang.

“Every time I put on an event, I’m trying to put on a big event, so it’s no different,” said White, who described Etihad Arena as a “world-class venue” on a par with the others used to stage the UFC. “But obviously when I come here, we come here and we want to deliver. Not just a massive card, but a card that really excites the market here.”

White said he is particularly looking forward to Chimaev’s comeback. The Chechen-born Swede was the breakout star of the first Fight Island, when he debuted in the UFC with a victory and then made history for the quickest turnaround between wins, at 10 days. Both bouts, hugely dominant successes, took place during the run in Abu Dhabi. Chimaev then made his Las Vegas bow in September, knocking out veteran Gerald Meerschaert in 17 seconds.

However, he has not fought since following a protracted battle with Covid-19. His professional record sits at 9-0 (3-0 UFC) with all wins coming via finishes.

“I would have to say I’m most excited for the Khamzat fight,” White said. “Because of what happened last time we were here with him. And then he got crushed with Covid. I’m excited to see how he bounces back from that.

Fighters weigh in for UFC 267

  • Light heavyweight champion Jan Blachowicz weighs in before UFC 267 at the Hilton Hotel, Yas Island in Abu Dhabi on Friday, October 29. All photos Chris Whiteoak / The National
    Light heavyweight champion Jan Blachowicz weighs in before UFC 267 at the Hilton Hotel, Yas Island in Abu Dhabi on Friday, October 29. All photos Chris Whiteoak / The National
  • Light heavyweight challenger Glover Teixeira weighs in before UFC 267.
    Light heavyweight challenger Glover Teixeira weighs in before UFC 267.
  • Bantamweight Petr Yan weighs in before UFC 267.
    Bantamweight Petr Yan weighs in before UFC 267.
  • Middleweight Albert Duraev weighs in before UFC 267 at the Hilton Hotel, Yas Island.
    Middleweight Albert Duraev weighs in before UFC 267 at the Hilton Hotel, Yas Island.
  • Lightweight Magomed Mustafaev weighs in before UFC 267.
    Lightweight Magomed Mustafaev weighs in before UFC 267.
  • Middleweight Roman Kopylov weighs in before UFC 267.
    Middleweight Roman Kopylov weighs in before UFC 267.
  • Welterweight Benoit Saint Denis weighs in before UFC 267.
    Welterweight Benoit Saint Denis weighs in before UFC 267.
  • Welterweight Benoit Saint Denis weighs in before UFC 267.
    Welterweight Benoit Saint Denis weighs in before UFC 267.
  • Featherweight Mawkwan Amirkhani weighs in before UFC 267.
    Featherweight Mawkwan Amirkhani weighs in before UFC 267.
  • Featherweight Ricardo Ramos weighs in before UFC 267.
    Featherweight Ricardo Ramos weighs in before UFC 267.
  • Flyweight Tagir Ulanbekov weighs in before UFC 267.
    Flyweight Tagir Ulanbekov weighs in before UFC 267.
  • Light heavyweight Volkan Oezdemir weighs in before UFC 267.
    Light heavyweight Volkan Oezdemir weighs in before UFC 267.
  • Lightweight Damir Ismagulov weighs in before UFC 267.
    Lightweight Damir Ismagulov weighs in before UFC 267.
  • Flyweight Allan Nascimento weighs in before UFC 267.
    Flyweight Allan Nascimento weighs in before UFC 267.
  • Middleweight Andre Petroski weighs in before UFC 267.
    Middleweight Andre Petroski weighs in before UFC 267.
  • Heavyweight Alexander Volkov weighs in before UFC 267.
    Heavyweight Alexander Volkov weighs in before UFC 267.
  • Welterweight Li Jingliang weighs in before UFC 267.
    Welterweight Li Jingliang weighs in before UFC 267.
  • Strawweight Virna Jandiroba weighs in before UFC 267.
    Strawweight Virna Jandiroba weighs in before UFC 267.
  • Featherweight Lerone Murphy weighs in before UFC 267.
    Featherweight Lerone Murphy weighs in before UFC 267.
  • Strawweight Amanda Ribas weighs in before UFC 267.
    Strawweight Amanda Ribas weighs in before UFC 267.
  • Lightweight Islam Makhachev weighs in before UFC 267.
    Lightweight Islam Makhachev weighs in before UFC 267.
  • Welterweight Khamzat Chimaev weighs in before UFC 267.
    Welterweight Khamzat Chimaev weighs in before UFC 267.
  • Welterweight Khamzat Chimaev weighs in before UFC 267.
    Welterweight Khamzat Chimaev weighs in before UFC 267.

“He’s a guy that I think has the potential to be a world champion. So I’m curious to see how he looks tomorrow.”

Meanwhile, Makhachev comes into his lightweight encounter against Hooker with high expectations upon him. The Dagestan native, who rides an eight-fight win streak, is being tipped by many as a future champion of the division. The No-5 ranked contender, 20-1 in pro MMA, was originally slated to fight Rafael Dos Anjos, but the former title-holder withdrew last month through injury. Hooker, sitting one spot below Makhachev in the rankings, stepped in as a replacement one month out from the bout.

Makhachev, 30, is coached by retired teammate and former champion Khabib Nurmagomedov, and is hugely popular in Abu Dhabi – he won there in 2019 – and throughout the region. Therefore, the pressure is on to make a statement on Saturday night.

“When you start to climb that ladder you’re going to be a hometown hero somewhere,” White said. “And you’re always going to have to go face the big crowds, the unbelievable pressure. You heard him saying, ‘I need to put a stamp on this one; I need to show everybody that I’m the man and I need to do that with Dan Hooker. He’s the guy that I've got to show the world who I am’.

“And there’s always going to be that pressure. After Hooker, there’s going to be somebody else, whether or not you can become a world champion or one of the all-time greats, each and every time you go out and fight.”

As for New Zealand’s Hooker, White added: “For a guy like Hooker, nobody wants to fight Islam. Nobody wants to fight this guy. He just fought [Nasrat Haqparast in Las Vegas on September 25] and he could have easily said, ‘Listen, I want some time and go spend with my family, get a proper camp in, train for Islam, do this and that’.

Fighters square off ahead of UFC 267

  • Khamzat Chimaev (R) and Li Jingliang square off at the press conference before their welterweight fight at UFC 267, Etihad Arena, Abu Dhabi. All photos Chris Whiteoak / The National
    Khamzat Chimaev (R) and Li Jingliang square off at the press conference before their welterweight fight at UFC 267, Etihad Arena, Abu Dhabi. All photos Chris Whiteoak / The National
  • Li Jingliang pumps his arms in the air during Thursday's press connference for UFC 267.
    Li Jingliang pumps his arms in the air during Thursday's press connference for UFC 267.
  • Khamzat Chimaev during the press conference before UFC 267.
    Khamzat Chimaev during the press conference before UFC 267.
  • UFC light heavyweight champion Jan Blachowicz (L) and challenger Glover Teixeira square off at the press conference before UFC 267.
    UFC light heavyweight champion Jan Blachowicz (L) and challenger Glover Teixeira square off at the press conference before UFC 267.
  • Jan Blachowicz (L) and Glover Teixeira square off at the press conference before UFC 267.
    Jan Blachowicz (L) and Glover Teixeira square off at the press conference before UFC 267.
  • UFC lightweight Dan Hooker shakes hands with UFC president Dana White at the press conference before UFC 267.
    UFC lightweight Dan Hooker shakes hands with UFC president Dana White at the press conference before UFC 267.
  • Dana White speaks at the press conference before UFC 267.
    Dana White speaks at the press conference before UFC 267.
  • UFC bantamweight Petr Yan speaks at the press conference before UFC 267.
    UFC bantamweight Petr Yan speaks at the press conference before UFC 267.
  • UFC bantamweights Cory Sandhagen (R) and Petr Yan square off at the press conference before UFC 267.
    UFC bantamweights Cory Sandhagen (R) and Petr Yan square off at the press conference before UFC 267.
  • UFC bantamweight Cory Sandhagen speaks at the press conference before UFC 267.
    UFC bantamweight Cory Sandhagen speaks at the press conference before UFC 267.
  • Jan Blachowicz speaks at the press conference before UFC 267.
    Jan Blachowicz speaks at the press conference before UFC 267.
  • Dana White speaks at the press conference before UFC 267.
    Dana White speaks at the press conference before UFC 267.
  • Jan Blachowicz (L) and Glover Teixeira shake hands at the press conference before UFC 267.
    Jan Blachowicz (L) and Glover Teixeira shake hands at the press conference before UFC 267.
  • Dan Hooker and Islam Makhachev square off at the press conference before UFC 267.
    Dan Hooker and Islam Makhachev square off at the press conference before UFC 267.
  • Dan Hooker and Islam Makhachev square off at the press conference before UFC 267.
    Dan Hooker and Islam Makhachev square off at the press conference before UFC 267.
  • Islam Makhachev speaks at the press conference before UFC 267.
    Islam Makhachev speaks at the press conference before UFC 267.
  • UFC light heavyweights Magomed Ankalaev (L) and Volkan Oezdemir square off at the press conference before UFC 267.
    UFC light heavyweights Magomed Ankalaev (L) and Volkan Oezdemir square off at the press conference before UFC 267.
  • UFC heavyweights Alexander Volkov (L) and Marcin Tybura square off at the press conference before UFC 267.
    UFC heavyweights Alexander Volkov (L) and Marcin Tybura square off at the press conference before UFC 267.
  • Dana White speaks at the press conference before UFC 267.
    Dana White speaks at the press conference before UFC 267.
  • Khamzat Chimaev during the press conference before UFC 267.
    Khamzat Chimaev during the press conference before UFC 267.
  • Glover Teixeira at the press conference before UFC 267.
    Glover Teixeira at the press conference before UFC 267.
  • Magomed Ankalaev shakes hands with Dana White at the press conference before UFC 267.
    Magomed Ankalaev shakes hands with Dana White at the press conference before UFC 267.

“He jumps on the opportunity to fight Islam. Doesn’t hide from it, jumps on it. Those are the kind of guys we love around here.

“And that’s the other side of it, too. For every hometown guy there’s a guy who’s going into enemy territory or whatever you want to call it. And that’s another thing Dan Hooker walked into and is willing to do. The guy’s an absolutes stud.”

Given the obvious regional appeal Chimaev and Makhachev hold – both are Muslim – White said the preference will remain for both to compete in Abu Dhabi whenever possible.

“Those type of guys we’ll always have on a card when we’re here, but they’re also guys that I want to move around,” he said. “I want those guys to fight in Vegas, I want those to fight all over the world.

“Obviously they’re massive in this region. But these are guys who have become stars worldwide. That makes them double important. They’re big over here, big in Russia and big all around the rest of the world.”

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

The%20Mandalorian%20season%203%20episode%201
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERick%20Famuyiwa%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EPedro%20Pascal%20and%20Katee%20Sackhoff%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%C2%A0%3C%2Fp%3E%0A
Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

MATCH INFO

Manchester United 1 (Rashford 36')

Liverpool 1 (Lallana 84')

Man of the match: Marcus Rashford (Manchester United)

West Asia Premiership

Dubai Hurricanes 58-10 Dubai Knights Eagles

Dubai Tigers 5-39 Bahrain

Jebel Ali Dragons 16-56 Abu Dhabi Harlequins

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
Results

Final: Iran beat Spain 6-3.

Play-off 3rd: UAE beat Russia 2-1 (in extra time).

Play-off 5th: Japan beat Egypt 7-2.

Play-off 7th: Italy beat Mexico 3-2.

SPECS
%3Cp%3E%0D%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%204.0-litre%20twin-turbo%20V8%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20750hp%20at%207%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20800Nm%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%207%20Speed%20dual-clutch%20auto%0D%0D%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20332kph%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%2012.2L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EYear%20end%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh1%2C430%2C000%20(coupe)%3B%20From%20Dh1%2C566%2C000%20(Spider)%3C%2Fp%3E%0A

Men’s singles 
Group A:
Son Wan-ho (Kor), Lee Chong Wei (Mas), Ng Long Angus (HK), Chen Long (Chn)
Group B: Kidambi Srikanth (Ind), Shi Yugi (Chn), Chou Tien Chen (Tpe), Viktor Axelsen (Den)

Women’s Singles 
Group A:
Akane Yamaguchi (Jpn), Pusarla Sindhu (Ind), Sayaka Sato (Jpn), He Bingjiao (Chn)
Group B: Tai Tzu Ying (Tpe), Sung Hi-hyun (Kor), Ratchanok Intanon (Tha), Chen Yufei (Chn)

Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics

 

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20SupplyVan%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2029%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20MRO%20and%20e-commerce%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Seed%3C%2Fp%3E%0A
What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

Getting%20there%20
%3Cp%3E%3Ca%20href%3D%22https%3A%2F%2Fwww.thenationalnews.com%2Ftravel%2F2023%2F01%2F12%2Fwhat-does-it-take-to-be-cabin-crew-at-one-of-the-worlds-best-airlines-in-2023%2F%22%20target%3D%22_self%22%3EEtihad%20Airways%20%3C%2Fa%3Eflies%20daily%20to%20the%20Maldives%20from%20Abu%20Dhabi.%20The%20journey%20takes%20four%20hours%20and%20return%20fares%20start%20from%20Dh3%2C995.%20Opt%20for%20the%203am%20flight%20and%20you%E2%80%99ll%20land%20at%206am%2C%20giving%20you%20the%20entire%20day%20to%20adjust%20to%20island%20time.%20%C2%A0%3C%2Fp%3E%0A%3Cp%3ERound%20trip%20speedboat%20transfers%20to%20the%20resort%20are%20bookable%20via%20Anantara%20and%20cost%20%24265%20per%20person.%20%C2%A0%3C%2Fp%3E%0A

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.”

Walls

Louis Tomlinson

3 out of 5 stars

(Syco Music/Arista Records)

Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

How much of your income do you need to save?

The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.

In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)

Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.

 

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
MATCH INFO

Uefa Champions League semi-final, first leg

Tottenham v Ajax, Tuesday, 11pm (UAE).

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

Games on BeIN Sports

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

Destroyer

Director: Karyn Kusama

Cast: Nicole Kidman, Toby Kebbell, Sebastian Stan

Rating: 3/5 

UAE release: January 31 

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
The specs: 2017 Porsche 718 Cayman

Price, base / as tested Dh222,500 / Dh296,870

Engine 2.0L, flat four-cylinder

Transmission Seven-speed PDK

Power 300hp @ 6,500rpm

Torque 380hp @ 1,950rpm

Fuel economy, combined 6.9L / 100km

Updated: October 30, 2021, 10:09 AM