A new Formula One season kicks off in Bahrain this weekend hoping sweeping rule changes will trigger an explosive new chapter in the sport’s history to blow away the controversy of last year's title decider in Abu Dhabi.
Make no mistake bitterness still lingers over the events last December, certainly deep within Lewis Hamilton and, perhaps even more passionately among his legion of followers.
But F1 is trying to move on. And almost everywhere you look there is change: from dramatic new regulations offering closer racing to a new champion in Max Verstappen and an old one in Hamilton himself surely hell bent on righting a wrong.
Then there’s promise of a Ferrari revival, the legendary Fernando Alonso trying to lead Renault Alpine out of the wilderness and Australian Daniel Ricciardo returning from a bout of Covid. That’s without mentioning ditched Russians and the sport’s new race management with football style video refereeing in use for the first time.
Of course the final hurdles are yet to be leapt so the mourning of Hamilton can finally be laid to rest. That should come with the full FIA report into events on that dramatic day at Yas Marina Circuit in December due to be released on Friday.
But nothing has been so indicative of the dramatic winds of change howling through the sport as the sight of the champion’s No 1 on Verstappen’s Red Bull.
Team boss Christian Horner says just the sight of the single digit on the car’s engine cover has “energised” his British operation.
Verstappen, 24, returns to action having stolen another significant piece of Hamilton real estate over the winter – the honour of being the best paid driver in F1. He penned a gargantuan £220 million deal this month to keep him at Red Bull until 2028.
And it feels like a watershed moment just to be starting a season without a Mercedes champion. One which may start on a dull note for Toto Wolff’s team as Hamilton admitted his race machine lags behind both Red Bull and Ferrari, describing the young Dutchman’s car as “ridiculously fast”. Of course, this is the driver who regularly radios “My tyres are worn out” just before setting the fastest race lap.
Hamilton has a well-earned black belt in kidology but his Mercedes car has been visibly skittish and hard to control in pre-season testing.
Mercedes are one of the highest profile victims of F1’s new malaise (and buzz word), ‘porpoising’, which causes violent juddering at speeds over 250kph.
Almost every team on the grid is suffering to some degree and engineers are sure to be battling right up to Sunday’s first race for a solution that will not affect lap times too dramatically.
Among the wide-reaching new changes are bigger, low profile, tyres from Pirelli promising more grip and more durability in an attempt to end the curse of drivers cruising to make it to the finish. Cars are 42kgs heavier and have bigger brakes, as well as much altered aerodynamics with ground effect.
Testing suggests Red Bull are the ones to beat, chased by Ferrari and then Mercedes, with McLaren coming up on the rails.
Ferrari are confident they have bridged last year’s power deficit – vital in an engine freeze formula in which development is banned.
The sport’s owners, Liberty, will welcome the return of the sport’s marquee brand who have not won a race since September 2019.
In Charles Leclerc and Carlos Sainz they have a rapier quick duo sure to deliver if they have the machinery.
A surprise candidate for best of the rest are American minnows Haas - although they have mostly hit the headlines for ditching their Russian title sponsors and $80m in backing over the Ukrainian invasion.
They would have been less worried about dumping fractious Russian racer Nikita Mazepin, son of their billionaire sponsor.
His vacant seat has been taken by popular Dane Kevin Magnussen, who will be far better benchmark for Mick Schumacher, son of the race legend.
George Russell replaces Valtteri Bottas in a move that sets up one of the most intriguing F1 sub-plots of 2022.
The promising Brit slots in alongside Hamilton after stunning performances over the past two years that suggest he will be far more than an obedient No 2 and capable wingman.
Many see him as a looming threat to Hamilton and perhaps even, longer term, his replacement.
If his Mercedes is not a pacesetter and the eighth title dream gone for another year, will veteran Hamilton have the determination and focus to risk everything for fifth place on the grid while fending off a new young tyro?
And in one of the more intriguing developments - will we ever see the Hamilton name on the podium again after the Mercedes ace announced at Expo 2020 Dubai he would be changing his name to include Larbalestier in honour of mother Carmen he publicly hailed “the best part of me”?
With the dismissal of race director Michael Masi over last year’s disastrous finale in Abu Dhabi come two new race directors charged with providing more consistency by yet another new element in the paddock: recently elected FIA president Mohammed ben Sulayem, an Emirati.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Our Time Has Come
Alyssa Ayres, Oxford University Press
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Trippier bio
Date of birth September 19, 1990
Place of birth Bury, United Kingdom
Age 26
Height 1.74 metres
Nationality England
Position Right-back
Foot Right
If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
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.”
MATCH INFO
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
Brief scores:
Day 1
Toss: India, chose to bat
India (1st innings): 215-2 (89 ov)
Agarwal 76, Pujara 68 not out; Cummins 2-40
New Zealand 21 British & Irish Lions 24
New Zealand
Penalties: Barrett (7)
British & Irish Lions
Tries: Faletau, Murray
Penalties: Farrell (4)
Conversions: Farrell
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EKinetic%207%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Rick%20Parish%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Clean%20cooking%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self-funded%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Alaan%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Parthi%20Duraisamy%20and%20Karun%20Kurien%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%247%20million%20raised%20in%20total%20%E2%80%94%20%242.5%20million%20in%20a%20seed%20round%20and%20%244.5%20million%20in%20a%20pre-series%20A%20round%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A