Sheikh Mohammed's passion for horses has driven Dubai to the pinnacle of racing

As the UAE celebrates its Golden Jubilee, horse racing has reached global fame owing to the country’s expertise in racing operations as owners and breeders.

Meydan Racecourse - Dubai's flagship venue - is world renowned as a venue that hosts the world’s richest race meeting – the Dubai World Cup – a nine-race card that draws equine luminaries from around the world. The prize fund for the 2022 Dubai World Cup meeting organiszed by Dubai Racing Club is a staggering $30.5 million.

Godolphin, the Dubai-based racing operation of Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, is the world’s leading owner-breeder of thoroughbreds.

Established in 1992, Godolphin now spans four continents with operations in Dubai, Europe, Australia, Japan and the United States.

They celebrate winners almost every day. At the time of writing, they have saddled 7,164 winners, including 360 Group or Grade 1 prizes.

The name Godolphin is derived from Godolphin Barb and their breeding operation is named the Darley Stud, two of the founding Arabian sires of the modern thoroughbred Godolphin Barb (born in 1724) and Darley Arabian (1703). Bayerly Turk (1684) is the other.

During his studies in Cambridge, Sheikh Mohammed attended his first race meeting at Newmarket to watch Royal Palace win the 2000 Guineas in May 1967.

Fast forward 10 years and his own involvement with international racing began with the filly Hatta, who gave him his first success at Brighton, on June 20, 1977, and then went on to win the Group 3 Molecomb Stakes at Goodwood the following month.

Sheikh Mohammed’s passion for horses grew into a major bloodstock operation and has resulted in the world’s largest and successful racing team, Godolphin, as well as the successful stallion operation, Darley.

Today, Godolphin horses winter in Dubai and are prepared for the Dubai World Cup Carnival as well as the Dubai World Cup itself.

While Sheikh Mohammed’s racing operation is world renown, the Dubai Ruler himself rode and promoted the Arabian horse for endurance riding – long distance races ranging from 100-180km.

He has won several events, including gold at the World Endurance Championship.

The Purebred Arabians take a prominent place in the culture and heritage of the country and Arabian racing is promoted worldwide, an initiative of the UAE's founding father, Sheikh Zayed.

The President of the UAE Cup is currently in its 28th edition. It is a race series held across Europe, the US and the Middle East to encourage the breeding of the species.

“Most affluent homes in the UAE had horses and camels, and they raced them in makeshift or open desert areas during festivities and special functions like weddings,” Khalid Khalifa Al Naboodah, an owner/breeder of the Purebred Arabians and a four-time UAE champion owner, said.

“We had Arabian horses at home and that’s how I came to love them and later started a breeding operation for races,” Al Naboodah, who has more than 100 Arabians currently in training, added.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, alongside UAE riders at Al Maktoum Endurance Cup Festival staged at Euston Park, England.

Emirati trainers Ali Rashid Al Raihe and Musabah Al Muhairi raced Arabians in the open desert during their childhood.

“Long before horse racing came under Racing Rules, we used to race in the open desert,” Al Raihe, 73, recalled.

“Such races and horse riding are still widely practiced. It’s a tradition in the country to conduct races in open areas and also ride long distances in the desert as a past time.

“When we were kids, we use to go out pulling a harrow attached to our vehicles to prepare a track for the horses to exercise them and prepare them for these traditional races.

“That was for pure fun at that time. We rode bareback and we didn’t go to riding schools. Horse racing is now well established both for the thoroughbreds and the Purebred Arabians.

“The UAE arguably holds the biggest number of races for the Arabians. Today the breed is better recognised in the flat racing world and as endurance horses.”

On Sunday, Abu Dhabi will host its biggest meeting of the season, a seven-race card highlighted by the Dh5 million Group 1 Sheikh Zayed bin Sultan Al Nahyan Jewel Crown for Purebred Arabians.

The Emirates Racing Authority was founded in 1992 and conducted races under the Racing Rules.

Prior to that, Dubai hosted its first race meeting in 1981 at a Camel Track, which was organised by Sheikh Mohammed. Three races took place – a sprint, a mile race and a contest over a mile-and-a-half.

Dubai Racing Club was established in 1992 to develop the sport in the city. Later that year, Nad Al Sheba Racecourse was opened, attracting some of the best jockeys in the world including Lester Piggott and Willie Carson.

The biggest breakthrough for racing in Dubai came in 1996 when the Dubai World Cup was launched.

The Meydan Racecourse was opened in March 2010 and replaced Nad Al Sheba as the home of the Dubai World Cup.

The venue can host up to 60,000 spectators and is home to a horse racing museum and a grandstand that stretches over a mile. The 2022 Dubai World Cup is slated for March 26.

The 12 Syrian entities delisted by UK

Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV

Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

RESULTS

5pm: Rated Conditions (PA) Dh85,000 (Turf) 1,600m
Winner: AF Mouthirah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

5.30pm: Maiden (PA) Dh80,000 (T) 1,400m
Winner: AF Alajaj, Tadhg O’Shea, Ernst Oertel

6pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,400m
Winner: Hawafez, Connor Beasley, Abubakar Daud

6.30pm: Maiden (PA) Dh80,000 (T) 2,200m
Winner: Tair, Fabrice Veron, Eric Lemartinel

7pm: Handicap (PA) Dh80,000 (T) 2,200m
Winner: Wakeel W’Rsan, Richard Mullen, Jaci Wickham

7.30pm: Handicap (PA) Dh100,000 (T) 2,400m
Winner: Son Of Normandy, Fernando Jara, Ahmad bin Harmash

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

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Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

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.”

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Three trading apps to try

Sharad Nair recommends three investment apps for UAE residents:

For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”

MATCH INFO

Tottenham 4 (Alli 51', Kane 50', 77'. Aurier 73')

Olympiakos 2 (El-Arabi 06', Semedo')

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

The specs

Engine: 4 liquid-cooled permanent magnet synchronous electric motors placed at each wheel

Battery: Rimac 120kWh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry

Power: 1877bhp

Torque: 2300Nm

Price: Dh7,500,00

On sale: Now