Ed Baird, left, hopes he will be the helmsman for Alinghi for the race in Ras al Khaimah.
Ed Baird, left, hopes he will be the helmsman for Alinghi for the race in Ras al Khaimah.
Ed Baird, left, hopes he will be the helmsman for Alinghi for the race in Ras al Khaimah.
Ed Baird, left, hopes he will be the helmsman for Alinghi for the race in Ras al Khaimah.

Baird cannot wait to do battle at sea


  • English
  • Arabic

GENOA // Ed Baird was holding the wheel when Alinghi retained the coveted America's Cup in Valencia two years ago. The experienced American sailor is crossing his fingers that he will again be at the helm when the new version of the Swiss yacht defends the trophy off the shores of Ras al Khaimah in February.

Baird, 51, a former world match racing champion, calls himself a driver rather than the helmsman in Alinghi's 100-plus strong team who will shortly arrive in the country to prepare for the best-of-three series against the American challengers BMW Oracle Racing. And what a vehicle he drives. The recently-launched fifth vessel to bear the Alinghi name made a wonderful spectacle when it was launched on the home territory of Lake Geneva and then lifted by helicopter to its temporary Genovese base on the Ligurian Riviera.

It will turn heads when it arrives sometime in the next four weeks at the team's new headquarters in Al Hamra to build up for the 33rd battle for sport's oldest international trophy to still be competed for. "It's quite frightening when you start thinking of what this boat is capable of," said Baird. Asked how fast Alinghi can go when in full flight, Baird grinned: "That's a trade secret. It is the one question everybody asks but I never give the answer. Trust me, though, it's pretty fast," he said.

"The boat has performed wonderfully so far in the few weeks since its launch. "We all looked at the predictions of how quick and how efficient it would be and were amazed. It's a big boat so it will go faster than a small boat once you get it moving. "You then have to look outside the vehicle to get a sense of how fast it is really going because it glides along so smoothly. "It really is a fantastic feeling to get it to take off. We have often been surprised by how feisty the boat can be and how exciting it can be to be on board."

Baird, who hails from St Petersburg, Florida, forged his reputation on much smaller craft. He compared the experience of helming Alinghi to moving from the controls of a light aircraft to a jumbo jet. "Sailing this big multi-hull requires there to be a tremendous interplay between several key members of the crew, not only to get the best out of the boat but also to make sure it is being handled safely," he said.

"If anybody relaxes in that core group you could find yourself in an extremely dangerous situation. "Unlike a lot of the boats that we have raced on over the years where you could pay attention to something else for a few minutes and then come back to your primary role, it is not the case here. "From the driver's perspective you have to be really clear on the angles you are trying to sail and the potential of the boat to be at risk at various angles.

"You have to monitor all the things that are coming up on the screen in front of you as well as keeping an eye on what's on the horizon." Baird, who first became involved with America's Cup competition in 1995, suffered his low point in 2000 when he was on a craft called Young America which broke in half off the shores of Auckland in what proved a disastrous challenge in a regatta eventually won by Team New Zealand.

His connection with the Alinghi team bankrolled by the mega-rich Italian-born Swiss entrepreneur Ernesto Bertarelli was established in 2004 when he was hired as one of three helmsman for the best-of-seven series against Team NZ in 2007. "After three years training, they let me become the one to drive the boat which was very exciting," he said as he reflected on the comfortable 5-2 victory in Valencia.

February's encounter with Oracle will be a maximum of three races which makes the outcome hard to predict for Baird. "We can't say at the moment whether we think we are going to win or not but we are giving ourselves as good a chance as we can by the way we are preparing for this," he said. "There is a broad range of talents in our camp. "Everybody is good at pushing themselves to a new high and supporting the people around them to do the same.

"They have proven to be pretty successful at choosing the right paths to find and where the best place to be at the end is." Baird has enormous respect for the rival camp and is anticipating a thrilling battle in the waters of the Gulf. "We have a worthy opponent. Not only are they a bunch of great sailors, they are proving to be tremendous public relations adversaries," he said. "They have taken every opportunity to try to make us look bad. It's easier to be like that when you are the challenger.

"You can throw grenades over the fence and see what happens. "We can take everything that comes our way, providing that we eventually get them out to sea to do battle. "That's what we are all here for and it should be a fantastic occasion." wjohnson@thenational.ae

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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

Who's who in Yemen conflict

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UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

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Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind

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How tumultuous protests grew
  • A fuel tax protest by French drivers appealed to wider anti-government sentiment
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  • Demonstrators responded to online petitions and flooded squares to block traffic
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Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

The specs

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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.”

The End of Loneliness
Benedict Wells
Translated from the German by Charlotte Collins
Sceptre

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UAE currency: the story behind the money in your pockets
While you're here
Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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MATCH INFO

Champions League quarter-final, first leg

Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

Manchester United v Liverpool

Premier League, kick off 7.30pm (UAE)

Living in...

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Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

PROFILE OF STARZPLAY

Date started: 2014

Founders: Maaz Sheikh, Danny Bates

Based: Dubai, UAE

Sector: Entertainment/Streaming Video On Demand

Number of employees: 125

Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners

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Jetour T1 specs

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