It was one of the most one-sided title fights in recent memory.
When Dmitry Bivol and Gilberto Ramirez touched down in Abu Dhabi ahead of their light-heavyweight title fight in November 2022, they did so with unblemished pro records.
Bivol, the WBA (Super) champion boasted a perfect 20-0 record and was coming off a landmark win in which he completely outclassed a Saul 'Canelo' Alvarez generally regarded as one of the best boxers of all time, albeit one biting off more than he could chew by stepping up so many weight classes.
Ramirez had fought more than twice as many times as Bivol, with an enviable 44 victories in as many bouts. A classy practitioner and former world super middleweight champion, the Mexican was aiming to disrupt the light heavyweight ranks dominated by Bivol and his fellow Russian Artur Beterbiev.
While the now customary barbs common before a title fight were traded by both boxers pre-fight, it was for the most part respectful. When the first bell sounded and the action got under way at Etihad Arena, Ramirez's words would have stung Bivol more than his actions as the Russian put on another masterclass.
For 12 rounds Bivol went through his full repertoire of skills: slick combinations, feints and dips, breaking the will of his opponent. It was complete ring control for the full 36 minutes and brought to mind Joe Calzaghe's total domination of Jeff Lacy in their super middleweight title fight in 2006.
The bout marked the first high-profile title fight on these shores with the promise of more to come. And while the UAE is ready and willing to host its next championship fight, the boxing world turns its focus to neighbouring Saudi Arabia this week.
Billed as the “Day of Reckoning”, Bivol returns to the ring for the first time since schooling Ramirez 13 months ago on the undercard of Anthony Joshua and Deontay Wilder's co-main events.
The 32-year-old defends his WBA strap for the fifth time since being elevated to “Super” status in October 2019 (Bivol also defended the regular WBA belt five times) against Lyndon Arthur.
Ranked eighth by the WBA, Arthur has won 23 of his 24 pro bouts and will put his IBO title on the line. And while a record of 16 wins by knockout suggests Bivol should have a healthy respect for his opponent, few observers believe the Briton will pull off an upset against a boxer with legitimate claims as one of the best pound-for-pound punchers around.
“I have just recently come back from a great event in Saudi Arabia and now I will have the opportunity to fight there,” Bivol said, referring to his attendance at October's clash between Tyson Fury and Francis Ngannou in Riyadh. “I am excited and looking forward to fighting Lyndon, his record and his belt are a motivation for me.”
With the greatest respect to Arthur, boxing fans know the one true test for Bivol lies in the shape of Beterbiev. The 38-year-old, who fights out of Canada, has packed much into an unbeaten 19-fight career that only saw him turn pro in 2013. He won his first world title in 2017 and has since added the IBF and WBC belts to sit alongside his WBO light heavyweight title.
Beterbiev faces a mandatory title defence of his WBC strap against Callum Smith on January 13 and it will require that organisation playing ball with the WBA and the various promoters to set up a unification bout against Bivol.
They say you should never mix sport and politics, but it is an unavoidable traffic jam in navigating boxing's myriad alphabet organisations.
But that's not to say it's an obstacle that can't be overcome. Money talks and in boxing it positively screams.
Saudi Arabia has shown a determination to rival boxing's traditional heartlands of New York and Las Vegas in hosting major title fights and would no doubt be in the bidding to host a Beterbiev-Bivol winner-takes-all showdown in the light heavyweight division.
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
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UAE currency: the story behind the money in your pockets
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
MATCH INFO
Europa League semi-final, second leg
Atletico Madrid (1) v Arsenal (1)
Where: Wanda Metropolitano
When: Thursday, May 3
Live: On BeIN Sports HD
GREATEST ROYAL RUMBLE CARD
The line-up as it stands for the Greatest Royal Rumble in Saudi Arabia on April 27
50-man Royal Rumble
Universal Championship
Brock Lesnar (champion) v Roman Reigns
Casket match
The Undertaker v Rusev
Intercontinental Championship
Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe
SmackDown Tag Team Championship
The Bludgeon Brothers v The Usos
Raw Tag Team Championship
Sheamus and Cesaro v Bray Wyatt and Matt Hardy
United States Championship
Jeff Hardy (champion) v Jinder Mahal
Singles match
Triple H v John Cena
To be confirmed
AJ Styles will defend his WWE World Heavyweight title and Cedric Alexander his Cruiserweight Championship, but matches have yet to be announced
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
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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”.
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Awar Qalb
Director: Jamal Salem
Starring: Abdulla Zaid, Joma Ali, Neven Madi and Khadija Sleiman
Two stars
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.”
