A “super moon” was visible across Europe this week, which is said by some astrologers to herald a momentous event.
Twelve months ago, Treve was considered by many in racing a horse fit only for retirement, but the French filly will cap a remarkable comeback on Sunday in Paris should she become the first horse to win the Prix de l’Arc de Triomphe for a third time.
It is a difficult task to paint Treve as a plucky outsider, given her connections.
Sheikh Joaan bin Hamad of Qatar owns her. Treve’s trainer, Criquette Head-Maarek, is a member of France’s premier racing dynasty, who have trained or ridden 10 winners of the race since it was first run in 1920.
Bred in the purple with English Derby winner Motivator as her sire, the mare has the lineage, too.
And yet, dig a little deeper and the journey of Treve and her connections has hardly been straightforward.
In 2005, Head-Maarek was diagnosed with cancer, from which the 66-year-old has made a full recovery. Before Treve’s first victory, in the French Oaks in 2013 she had not had a Group 1 winner for three years. And she was not the only one who Treve dragged out of the doldrums.
Jockey Thierry Jarnet was champion rider in France four times in succession in the early 1990s. It was a time during which he also rode Subotica to win the Arc in 1992, and Carnegie, whom he partnered to Arc victory in 1994 for Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai.
But by the time the new millennium arrived, Jarnet’s regular success at the top table, and his association with Andre Fabre, appeared over.
It was Head-Maarek’s insistence before last season’s Prix Vermeille that Jarnet be reunited with Treve at the expense of Frankie Dettori, Sheikh Joaan’s retained rider.
It was a decision that was bold, as it was correct.
“I thought Jarnet was better to ride her than Frankie, even if I think Frankie is the best jockey you can find,” Head-Maarek said on the gallops in Chantilly this week.
“That filly can pull a lot and Jarnet rides her with longer reins. Dettori rides horses with more grip. It’s a different style of riding, that’s all.”
By then, Head-Maarek had worked hard at a complete overhaul of her stable star. Treve’s back problems were massaged away, she was shod with different shoes and even her work saddled was changed.
Treve finished fourth in the Prix Vermeille last season before her second win in the Arc, whereas last month she won the traditional prep race for fillies and mares with the authority of a champion.
Her time was a second quicker than that of the Prix Niel won by New Bay, the French Derby winner who, alongside English Derby winner Golden Horn, will provide Treve with her sternest opposition.
With the sun riding high in Paris, on drying ground, Treve could be vulnerable, too. Golden Horn, ridden by Dettori, was drawn wide in Stall 16 yesterday but should Golden Horn secure an early position behind Treve’s pacemaker, Shahah, John Gosden’s raider could well be the biggest danger to Treve’s customary flourish out of Longchamp’s famous false straight.
Then there is Free Eagle, the Prince Of Wales’s Stakes winner who was third to Golden Horn in Ireland last month. Flintshire was second last year and warmed up with a win in the Group 1 Sword Dancer Stakes.
Dolniya, the Dubai Sheema Classic winner, has been overlooked, while Grand Prix de Paris winner Erupt and Aidan O’Brien’s Found make for a deep field.
Treve is one of just seven dual winners of the Arc. During an era when the best colts are packed off to stud, horses who have won several major international races tend to be mares.
Goldikova was the first horse to win a Breeders’ Cup race three times when she won the Mile consecutively from 2008.
Makaybe Diva’s impressive effort of three successive wins in the Melbourne Cup – a handicap no less – compares favourably.
Treve has won the Arc drawn wide when she was a five-length winner from Orfevre in 2013, and from the inside in Stall 3 last season.
She now bids to win from the middle having been drawn in Stall 8 at yesterday.
With the super moon now waning, Europe awaits a landmark event. It remains to be seen whether the white star on Treve’s forehead passing the post in front is it.
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
THE BIO:
Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.
Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.
Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.
Personal motto: Believe it and you can achieve it.
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
Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
T10 Cricket League
Sharjah Cricket Stadium
December 14- 17
6pm, Opening ceremony, followed by:
Bengal Tigers v Kerala Kings
Maratha Arabians v Pakhtoons
Tickets available online at q-tickets.com/t10
360Vuz PROFILE
Date started: January 2017
Founder: Khaled Zaatarah
Based: Dubai and Los Angeles
Sector: Technology
Size: 21 employees
Funding: $7 million
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin
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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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Director: Shahad Ameen
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Man of the Match Allan (Everton)
Profile of Hala Insurance
Date Started: September 2018
Founders: Walid and Karim Dib
Based: Abu Dhabi
Employees: Nine
Amount raised: $1.2 million
Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers
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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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Name: JustClean
Based: Kuwait with offices in other GCC countries
Launch year: 2016
Number of employees: 130
Sector: online laundry service
Funding: $12.9m from Kuwait-based Faith Capital Holding
The five pillars of Islam
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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
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5