BEIJING // Athletics got the hero it has been craving for years when Usain Bolt lit up the Bird's Nest with his brilliance, his 100 metres victory ensconced as one of the images of the 2008 Olympic Games.
After years of one depressing doping scandal after another, the Games began with many leading figures warning that athletics was in real danger of alienating its fans forever and with it, losing its place as the heart and soul of the Olympics.
Bolt's stunning performances, and the excitement of the build-up to his races, ensured that, for sprinting at least, things are looking good.
When the 100m heats began on the first morning of competition lips were being licked at the prospect of the three-way showdown between Bolt, the 100m world champion Tyson Gay and the former world record holder Asafa Powell, the three fastest men ever.
Yet by the time the final came round the following night there was only going to be one winner.
Even so, Bolt's performance in breaking his own world record in 9.69 seconds, and the chest-thumping celebratory way he did it, thrilled the world.
When he put his head down to drive through the line and erase Michael Johnson's untouchable 12-year-old mark in the 200m with a run of 19.30 seconds, any doubters would have realised they were in the presence of greatness.
A third gold and a third crushing world record after an eye-defying third leg in the 4x100m relay completed his haul.
Bolt, who turned 22 the day after his 200m win and had 91,000 people singing him "Happy Birthday" as he stood on the podium, is a true performer.
However, the International Olympic Committee (IOC) President Jacques Rogge chided him for a lack of sportsmanship for tearing off on his victory lap instead of waiting to shake hands with his beaten opponents. Bolt said he just wanted to have fun.
"Everybody should enjoy their job. The crowd loves it. They look for me to see me coming out. I just go out and give them a show," Bolt said.
In contrast, Lamine Diack, head of the International Association of Athletics Federations (IAAF), had nothing but praise for Bolt.
Mr Diack lavished praise on the Jamaican sprint star, saying Bolt had more impact than any other athlete in Games history.
"He is great for our sport, he can help to build up our sport," Mr Diack said. "He was fantastic, we are very privileged to have this."
Bolt's triple gold haul was only part of a fantastic athletics programme for Jamaica, who took a clean sweep of the four sprint titles en route to six golds and 11 medals in all.
Their success, and Bolt's superhuman performances, invariably raised the question of doping, particularly as the 100m has been dogged horribly in that regard for so long.
Bolt, however, who won the World Junior Championships 200m at 15 and was the first junior to break 20 seconds, has hardly come out of the blue, and he dismissed the idea out of hand.
"I've been tested so many times in the competition I've lost count," he said. "We know we're good, we know we're clean. We work hard and any time you want to test us, it's okay."
The IAAF has been carrying out extensive testing in Jamaica, which does not have its own accredited antidoping system, and has reported no suspicious patterns.
Other countries' athletes preparing to return to a glorious welcome were Ethiopia and Kenya, who were imperious in the distance events.
Ethiopian duo Kenenisa Bekele and Tirunesh Dibaba both took the 10,000-5,000 metres double while Kenya claimed five golds, capped when Sammy Wanjiru brought the east African country their long-desired first marathon title.
Jamaica's six golds left them third in the athletics medal standings behind Russia (six, but more silvers) and the USA (seven) but it was not all rosy for the sport's superpower.
For the first time since 1976, apart from the boycotted 1980 Games, they failed to win any of the four sprints and things reached a new low when both 4x100m relay teams dropped the baton in the heats.
They did come back with double gold in the 4x400m relays to finish on a high but USA Track and Field head Doug Logan said a comprehensive review of their performance would be held.
* Reuters
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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
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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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Changing visa rules
For decades the UAE has granted two and three year visas to foreign workers, tied to their current employer. Now that's changing.
Last year, the UAE cabinet also approved providing 10-year visas to foreigners with investments in the UAE of at least Dh10 million, if non-real estate assets account for at least 60 per cent of the total. Investors can bring their spouses and children into the country.
It also approved five-year residency to owners of UAE real estate worth at least 5 million dirhams.
The government also said that leading academics, medical doctors, scientists, engineers and star students would be eligible for similar long-term visas, without the need for financial investments in the country.
The first batch - 20 finalists for the Mohammed bin Rashid Medal for Scientific Distinction.- were awarded in January and more are expected to follow.
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List of UAE medal winners
Gold
Faisal Al Ketbi (Open weight and 94kg)
Talib Al Kirbi (69kg)
Omar Al Fadhli (56kg)
Silver
Zayed Al Kaabi (94kg)
Khalfan Belhol (85kg)
Zayed Al Mansoori (62kg)
Mouza Al Shamsi (49kg women)
Bronze
Yahia Mansour Al Hammadi (Open and 94kg)
Saood Al Hammadi (77kg)
Said Al Mazroui (62kg)
Obaid Al Nuaimi (56kg)
Bashayer Al Matrooshi (62kg women)
Reem Abdulkareem (45kg women)
Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
'Nope'
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Zayed Sustainability Prize
Killing of Qassem Suleimani
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