• Race winner and 2021 F1 world champion Max Verstappen and his Red Bull Racing team celebrate on the podium after the Abu Dhabi Grand Prix at Yas Marina Circuit on December 12, 2021. Victor Besa / The National
    Race winner and 2021 F1 world champion Max Verstappen and his Red Bull Racing team celebrate on the podium after the Abu Dhabi Grand Prix at Yas Marina Circuit on December 12, 2021. Victor Besa / The National
  • Verstappen fought off Lewis Hamilton in a nail-biting finish. Victor Besa / The National
    Verstappen fought off Lewis Hamilton in a nail-biting finish. Victor Besa / The National
  • Verstappen runs to celebrate with his team. Victor Besa / The National
    Verstappen runs to celebrate with his team. Victor Besa / The National
  • The Dutch driver clinched the race and the championship on the final lap. Victor Besa / The National
    The Dutch driver clinched the race and the championship on the final lap. Victor Besa / The National
  • Race fans cheer as Verstappen wins. Victor Besa / The National
    Race fans cheer as Verstappen wins. Victor Besa / The National
  • Verstappen enjoys that winning feeling. Reuters
    Verstappen enjoys that winning feeling. Reuters
  • Verstappen drinks in the moment as Mercedes driver Lewis Hamilton looks dejected after finishing second. Reuters
    Verstappen drinks in the moment as Mercedes driver Lewis Hamilton looks dejected after finishing second. Reuters
  • Verstappen and Hamilton go head to head on the track. Victor Besa / The National
    Verstappen and Hamilton go head to head on the track. Victor Besa / The National
  • An Etihad Airways flyover before the race. The airline sponsored the Abu Dhabi Grand Prix. Victor Besa / The National
    An Etihad Airways flyover before the race. The airline sponsored the Abu Dhabi Grand Prix. Victor Besa / The National
  • Verstappen in action. Victor Besa / The National
    Verstappen in action. Victor Besa / The National
  • Hamilton took an early lead. Victor Besa / The National
    Hamilton took an early lead. Victor Besa / The National
  • Verstappen and Hamilton led the championship going into the final race. Victor Besa / The National
    Verstappen and Hamilton led the championship going into the final race. Victor Besa / The National
  • The start of the race. Reuters
    The start of the race. Reuters
  • Drivers pose for their end-of-season picture before the Abu Dhabi Grand Prix. AP
    Drivers pose for their end-of-season picture before the Abu Dhabi Grand Prix. AP
  • Aston Martin's Sebastian Vettel before the race. Reuters
    Aston Martin's Sebastian Vettel before the race. Reuters
  • Fans of Verstappen and Hamilton before the race. Reuters
    Fans of Verstappen and Hamilton before the race. Reuters
  • Hamilton looks relaxed before the race. Reuters
    Hamilton looks relaxed before the race. Reuters
  • Verstappen looks like he means business. Reuters
    Verstappen looks like he means business. Reuters
  • Hamilton soaks up the early atmosphere. Victor Besa / The National
    Hamilton soaks up the early atmosphere. Victor Besa / The National
  • Mercedes driver Valtteri Bottas with his girlfriend Tiffany Cromwell. Victor Besa / The National
    Mercedes driver Valtteri Bottas with his girlfriend Tiffany Cromwell. Victor Besa / The National
  • Verstappen arrives at the circuit with his girlfriend Kelly Piquet. Reuters
    Verstappen arrives at the circuit with his girlfriend Kelly Piquet. Reuters
  • Hamilton on the Yas Marina Circuit. AFP
    Hamilton on the Yas Marina Circuit. AFP

Michael Masi axed as Formula One race director after Abu Dhabi GP controversy


  • English
  • Arabic

Michael Masi has been dropped as Formula One race director after the controversial Etihad Airways Abu Dhabi Grand Prix that saw Max Vertappen pip Lewis Hamilton for the world title.

The news was confirmed by FIA president Mohammed bin Sulayem two months and five days after last season’s finale at Yas Marina Circuit.

Masi's future was thrown into doubt after he altered the safety car procedure to allow for a last lap of racing that cost Mercedes' Hamilton a record eighth title and handed a first to Red Bull's Verstappen.

Masi decided only the lapped cars between race-leading Hamilton and second-placed rival Verstappen had to get out of the way after a late-race crash, allowing Verstappen to pass the Briton on the last lap, which left the British driver saying the race was “manipulated” in Red Bull's favour.

A report into the failings at Abu Dhabi will be published at the season-opening race in Bahrain on March 19.

Masi, offered a new position within the FIA, will be replaced by Eduardo Freitas and Niels Wittich in a total restructure of race control.

FIA president Bin Sulayem said: “I would like to inform you that a new race management team will be put in place starting in Barcelona for the test session.

“Niels Wittich and Eduardo Freitas will act alternatively as race director, assisted by Herbie Blash as permanent senior adviser.

“Michael Masi, who accomplished a very challenging job for three years as Formula One race director following Charlie Whiting, will be offered a new position within the FIA.”

Bin Sulayem, elected as president just days after the Abu Dhabi race, also revealed the sport will use a Video Assistant Referee, similar to the one seen in football, and said communication between the pit wall and the race director will no longer be aired live on television.

“With this plan, FIA opens the way for a new step forward in Formula One refereeing,” he added. “Without the referees, there is no sport. Respect and support of the referees is in the essence of the FIA.

“That is why these structural changes are crucial in a context of strong development and the legitimate expectations of drivers, teams, manufacturers, organisers, and, of course, the fans.”

The Emirati, who was elected the FIA's first non-European president, said the changes had been presented at a meeting of the F1 Commission on Monday where they were unanimously supported by the teams and F1 chief executive Stefano Domenicali.

Which honey takes your fancy?

Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

Sidr Honey

The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest

Samar Honey

The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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Results

5pm: Wadi Nagab – Maiden (PA) Dh80,000 (Turf) 1,200m; Winner: Al Falaq, Antonio Fresu (jockey), Ahmed Al Shemaili (trainer)

5.30pm: Wadi Sidr – Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel

6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Fakhama, Fernando Jara, Mohamed Daggash

6.30pm: Wadi Shees – Handicap (PA) Dh80,000 (T) 2,200m; Winner: Mutaqadim, Antonio Fresu, Ibrahim Al Hadhrami

7pm: Arabian Triple Crown Round-1 – Listed (PA) Dh230,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami

7.30pm: Wadi Tayyibah – Maiden (TB) Dh80,000 (T) 1,600m; Winner: Poster Paint, Patrick Cosgrave, Bhupat Seemar

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

Company%20profile
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Tearful appearance

Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday. 

Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow. 

She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.

A spokesman said her upset demeanour was due to a personal matter.

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
FIGHT CARD

From 5.30pm in the following order:

Featherweight

Marcelo Pontes (BRA) v Azouz Anwar (EGY)

Catchweight 90kg

Moustafa Rashid Nada (KSA) v Imad Al Howayeck (LEB)

Welterweight

Mohammed Al Khatib (JOR) v Gimbat Ismailov (RUS)

Flyweight (women)

Lucie Bertaud (FRA) v Kelig Pinson (BEL)

Lightweight

Alexandru Chitoran (BEL) v Regelo Enumerables Jr (PHI)

Catchweight 100kg

Mohamed Ali (EGY) v Marc Vleiger (NED)

Featherweight

James Bishop (AUS) v Mark Valerio (PHI)

Welterweight

Gerson Carvalho (BRA) v Abdelghani Saber (EGY)

Middleweight 

Bakhtiyar Abbasov (AZE) v Igor Litoshik (BLR)

Bantamweight:

Fabio Mello (BRA) v Mark Alcoba (PHI)

Welterweight

Ahmed Labban (LEB) v Magomedsultan Magemedsultanov (RUS)

Bantamweight

Trent Girdham (AUS) v Jayson Margallo (PHI)

Lightweight

Usman Nurmagomedov (RUS) v Roman Golovinov (UKR)

Middleweight

Tarek Suleiman (SYR) v Steve Kennedy (AUS)

Lightweight

Dan Moret (USA) v Anton Kuivanen (FIN)

Match info

Manchester United 1
Fred (18')

Wolves 1
Moutinho (53')

ESSENTIALS

The flights 
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes. 
Where to stay 
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

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.”

Updated: February 17, 2022, 3:05 PM