It has already been a good year for Nasser Al Attiyah, but it can get even better this weekend with victory in the Dubai International Rally.
The Qatari, who won the Dakar Rally in January, dominated the Middle East Rally Championship (MERC) with four wins from five events to put himself in a strong position to win the title for a seventh time. Now he is close to signing a deal to drive a Citroen in the World Rally Championship (WRC) next year.
That, by anyone's standards, is a strong 12 months, and Al Attiyah wants to finish it with a flourish by triumphing in Dubai in his Ford Fiesta.
"It has been a great year for me, and to win here, [and] to take the championship that way, would be fantastic," the 40 year old said.
"We have two ways of taking the title. Finishing in the top seven will be enough for me, but I would prefer to take it by winning, and that is what I am aiming to do."
Al Attiyah, who missed out on taking the title last year by four points to Misfer Al Marri, has a strong pedigree in Dubai, having won the event six times in the past, and has not been beaten there since 2006, making his combination with Giovanni Bernacchini, his Italian co-driver, a strong favourite when the action starts today .
"There is no secret," he said when asked about his success in Dubai. "I always prepare hard for each event and am ready physically and mentally. I like driving here, and it is like Qatar where, since 2003, I have won nine times, and it is kind of a similar feeling here as I do feel comfortable in these conditions.
"The stages are sandy and more fast [than on other rounds of the MERC] and I enjoy those conditions."
A seventh championship will be a sweet feeling for Al Attiyah, but becoming the first Arab winner of the Dakar Rally, held in Argentina and Chile where he took the title in the cars category of the gruelling 9,618 kilometre event by more than 49 minutes from Giniel de Villiers, was the catalyst for his best year in the sport.
"It was a dream to win Dakar, and to do it and be the first Arab to win it was fantastic," he said.
"It gave me a lot of confidence."
Al Attiyah is hoping to take his excellent form to the WRC next year.
Talks are on-going with the Citroen team on a deal that would see him drive a third car for the French manufacturers alongside Sebastien Loeb, the eight-time world champion, and Mikko Hirvonen, who will race for the team in 2012 after joining them from Abu Dhabi Ford, the team for whom he finished second in this year's drivers' championship.
"I am quite hopeful of this," he said. "I am working very hard for this option. I have a good link with the team and we are pushing for this to happen."
But all attention today and tomorrow will be on the challenging roads around Dubai.
The event began with the ceremonial opening stage last night, but the 800km action starts this morning with the first of six stages today, in the Malaiha and Shawka area.
The final six stages take place tomorrow in the Al Dhaid region, with the ceremonial finish taking place at Emaar Boulevard in Dubai Old Town, at 4.30pm.
AL KETBI OUT FOR A MEMORABLE NATIONAL DAY
He may need fortune to smile on him to win the MERC, but Rashid Al Ketbi is hoping to add a victory in the Dubai International Rally to the UAE’s National Day Celebrations.
The Emirati must win the rally, which starts Friday, and hope that Al Attiyah finishes no higher than eighth if he is to win his first MERC title.
“This is a very important event for me because it is my home rally, and it’s my dream to win it on UAE National Day weekend,” said Al Ketbi.
“I am ready for the challenge and will be going for the win. It will be a big fight between myself and Nasser.”
[ gcaygill@thenational.ae ]
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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.”
MATCH INFO
Manchester United 1 (Greenwood 77')
Everton 1 (Lindelof 36' og)
Scoreline:
Cardiff City 0
Liverpool 2
Wijnaldum 57', Milner 81' (pen)
The Matrix Resurrections
Director: Lana Wachowski
Stars: Keanu Reeves, Carrie-Anne Moss, Jessica Henwick
Rating:****
TWISTERS
Director:+Lee+Isaac+Chung
Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos
Rating:+2.5/5
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
'Gold'
Director:Anthony Hayes
Stars:Zaf Efron, Anthony Hayes
Rating:3/5
Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
Company Profile
Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000
MORE FROM CON COUGHLIN
MORE ON INTERNATIONAL JUSTICE
The specs: Aston Martin DB11 V8 vs Ferrari GTC4Lusso T
Price, base: Dh840,000; Dh120,000
Engine: 4.0L V8 twin-turbo; 3.9L V8 turbo
Transmission: Eight-speed automatic; seven-speed automatic
Power: 509hp @ 6,000rpm; 601hp @ 7,500rpm
Torque: 695Nm @ 2,000rpm; 760Nm @ 3,000rpm
Fuel economy, combined: 9.9L / 100km; 11.6L / 100km
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
SPECS
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The specs: 2024 Mercedes E200
Engine: 2.0-litre four-cyl turbo + mild hybrid
Power: 204hp at 5,800rpm +23hp hybrid boost
Torque: 320Nm at 1,800rpm +205Nm hybrid boost
Transmission: 9-speed auto
Fuel consumption: 7.3L/100km
On sale: November/December
Price: From Dh205,000 (estimate)
Related
If you go
- The nearest international airport to the start of the Chuysky Trakt is in Novosibirsk. Emirates (www.emirates.com) offer codeshare flights with S7 Airlines (www.s7.ru) via Moscow for US$5,300 (Dh19,467) return including taxes. Cheaper flights are available on Flydubai and Air Astana or Aeroflot combination, flying via Astana in Kazakhstan or Moscow. Economy class tickets are available for US$650 (Dh2,400).
- The Double Tree by Hilton in Novosibirsk (+7 383 2230100,) has double rooms from US$60 (Dh220). You can rent cabins at camp grounds or rooms in guesthouses in the towns for around US$25 (Dh90).
- The transport Minibuses run along the Chuysky Trakt but if you want to stop for sightseeing, hire a taxi from Gorno-Altaisk for about US$100 (Dh360) a day. Take a Russian phrasebook or download a translation app. Tour companies such as Altair-Tour (+7 383 2125115 ) offer hiking and adventure packages.
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
Company Profile
Name: Nadeera
Based: Abu Dhabi, UAE
Founders: Rabih El Chaar and Reem Khattar
Sector: CleanTech
Total funding: About $1 million
Investors: Hope Ventures, Rasameel Investments and support from accelerator programmes
Number of employees: 12
The specs
Engine: 3.5-litre twin-turbo V6
Power: 380hp at 5,800rpm
Torque: 530Nm at 1,300-4,500rpm
Transmission: Eight-speed auto
Price: From Dh299,000 ($81,415)
On sale: Now
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
Sun jukebox
Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)
This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.
Elvis Presley, Mystery Train (1955)
The B-side of Presley’s final single for Sun bops with a drummer-less groove.
Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)
Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.
Carl Perkins, Blue Suede Shoes (1956)
Within a month of Sun’s February release Elvis had his version out on RCA.
Roy Orbison, Ooby Dooby (1956)
An essential piece of irreverent juvenilia from Orbison.
Jerry Lee Lewis, Great Balls of Fire (1957)
Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.
Tales of Yusuf Tadros
Adel Esmat (translated by Mandy McClure)
Hoopoe
MATCH INFO
Who: France v Italy
When: Friday, 11pm (UAE)
TV: BeIN Sports
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The trailblazers
Sixteen boys and 15 girls have gone on from Go-Pro Academy in Dubai to either professional contracts abroad or scholarships in the United States. Here are two of the most prominent.
Georgia Gibson (Newcastle United)
The reason the academy in Dubai first set up a girls’ programme was to help Gibson reach her potential. Now she plays professionally for Newcastle United in the UK.
Mackenzie Hunt (Everton)
Attended DESS in Dubai, before heading to the UK to join Everton full time as a teenager. He was on the bench for the first team as recently as their fixture against Brighton on February 24.
