Ukrainian boxing great Vasiliy Lomachenko has announced his retirement at the age of 37.
Lomachenko can lay claim to one of the most decorated resumes in the history of the sport, with a glittering professional run coming after one of the greatest amateur careers of all time.
He claimed Olympic gold at Beijing 2008 and London 2012 before turning pro with an improbable ledger of 396-1 in the unpaid ranks.
He was also a double world and European champion. His solitary defeat came in his first world championship bout when, at 19, he had to settle for silver following defeat to the Russian Albert Selimov. He avenged that loss at the Beijing Games the following year.
After turning professional in 2013, he won a world title in just his third bout and became a three-weight world champion by his 12th.
“I am thankful that, as my career comes to an end, I have generated clarity about the direction a person must take in order to achieve true victory,” Lomachenko said in a video posted on social media.
Considered one of the most technically gifted fighters of all time, Lomachenko boasted outstanding footwork thanks to ballet training as a youngster. Fast hands, aggression, combination punching and an ability to pivot and create angles made him a fan favourite and separated him from the competition.
As a professional, Lomachenko spent much of his career fighting way above his optimal weight as he went in search of fresh challenges. He retires with a record of 18 wins and three losses, two of which were highly controversial.
A close friend of unified heavyweight champion Oleksandr Usyk, he was trained throughout his career by his father Anatoly Lomachenko.
“My father taught me not only boxing, but how to be a role model for my own children,” he said.
“I've made many mistakes in life and in the gym, but he was always by my side, correcting me when needed. I have many warm memories.”
Following his outstanding amateur career, Lomachenko challenged for a world title in just his second professional fight, losing a controversial bout to Orlando Salido in 2014.
Mexican veteran Salido came in overweight and fouled Lomachenko with low blows throughout.
He bounced back in his next fight by outclassing Gary Russell Jr to claim the WBO featherweight title, before going on to win world titles at super-featherweight and lightweight.
The likes of Nicholas Walters, Guillermo Rigondeaux and Jorge Linares were swept aside before he lost a narrow decision to Teofimo Lopez up at lightweight in 2020.
Lomachenko picked up three more wins before a controversial defeat to a much bigger and younger Devin Haney. The consensus was that the Ukrainian had done enough to earn the nod.
He bounced back to win the IBF lightweight title against George Kambosos Jr last May but has decided to bow out with his legacy more than secured.
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
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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Euro 2020
Group A: Italy, Switzerland, Wales, Turkey
Group B: Belgium, Russia, Denmark, Finland
Group C: Netherlands, Ukraine, Austria,
Georgia/Kosovo/Belarus/North Macedonia
Group D: England, Croatia, Czech Republic,
Scotland/Israel/Norway/Serbia
Group E: Spain, Poland, Sweden,
N.Ireland/Bosnia/Slovakia/Ireland
Group F: Germany, France, Portugal,
Iceland/Romania/Bulgaria/Hungary
Omar Yabroudi's factfile
Born: October 20, 1989, Sharjah
Education: Bachelor of Science and Football, Liverpool John Moores University
2010: Accrington Stanley FC, internship
2010-2012: Crystal Palace, performance analyst with U-18 academy
2012-2015: Barnet FC, first-team performance analyst/head of recruitment
2015-2017: Nottingham Forest, head of recruitment
2018-present: Crystal Palace, player recruitment manager
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
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The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now
'Outclassed in Kuwait'
Taleb Alrefai,
HBKU Press
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
UAE v United States, T20 International Series
Both matches at ICC Academy, Dubai. Admission is free.
1st match: Friday, 2pm
2nd match: Saturday, 2pm
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Rameez Shahzad, Amjad Gul, CP Rizwan, Mohammed Boota, Abdul Shakoor, Ahmed Raza, Imran Haider, Sultan Ahmed, Zahoor Khan, Amir Hayat
USA squad: Saurabh Netravalkar (captain), Jaskaran Malhotra, Elmore Hutchinson, Aaron Jones, Nosthush Kenjige, Ali Khan, Jannisar Khan, Xavier Marshall, Monank Patel, Timil Patel, Roy Silva, Jessy Singh, Steven Taylor, Hayden Walsh
Global state-owned investor ranking by size
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