British Formula One driver Lewis Hamilton of Mercedes arrives to the race track on the media day of the Formula One Grand Prix of Austria at the Red Bull Ring in Spielberg. EPA
British Formula One driver Lewis Hamilton of Mercedes arrives to the race track on the media day of the Formula One Grand Prix of Austria at the Red Bull Ring in Spielberg. EPA
British Formula One driver Lewis Hamilton of Mercedes arrives to the race track on the media day of the Formula One Grand Prix of Austria at the Red Bull Ring in Spielberg. EPA
British Formula One driver Lewis Hamilton of Mercedes arrives to the race track on the media day of the Formula One Grand Prix of Austria at the Red Bull Ring in Spielberg. EPA

Lewis Hamilton 'hopeful' Mercedes will soon return to winning ways - just not in Austria


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Lewis Hamilton has faith he will win a race in his troublesome Mercedes this season — just not at this weekend's Austrian Grand Prix.

After a grim first half of the year, the seven-time world champion arrives in Spielberg for Sunday's race confident his car is finally showing its potential.

Last weekend's British Grand Prix extended his winless run to 11 races, the longest in his standout career that has seen him top the podium on 103 occasions.

But third-placed Hamilton was almost as happy as if he, and not Carlos Sainz, had taken the chequered flag after his Mercedes at last battled shoulder to shoulder with the Red Bulls and Ferraris.

This was a massive improvement on the under-performing machine shackled by bouncing, or porpoising, as Mercedes grappled with the radical new design regulations brought in this term to produce closer racing.

The problem grew so bad in Azerbaijan, that Mercedes team principal Toto Wolff apologised to Hamilton over the team radio as arguably the best driver ever to grace the sport had to be helped out of the car his back was so shaken up by the bouncing over Baku's streets.

"You're just praying for it to end," said Hamilton at the time.

Azerbaijan Grand Prix - in pictures

  • Red Bull's Max Verstappen celebrates finishing first in the Azerbaijan Grand Prix at Baku City Circuit on June 12, 2022. Getty
    Red Bull's Max Verstappen celebrates finishing first in the Azerbaijan Grand Prix at Baku City Circuit on June 12, 2022. Getty
  • Race winner Max Verstappen is congratulated on the podium by Mohammed Ben Sulayem, FIA President. Getty
    Race winner Max Verstappen is congratulated on the podium by Mohammed Ben Sulayem, FIA President. Getty
  • Verstappen celebrates in parc ferme. Getty
    Verstappen celebrates in parc ferme. Getty
  • Red Bull's Dutch driver Max Verstappen wins the Azerbaijan Grand Prix at the Baku City Circuit on June 12, 2022. AFP
    Red Bull's Dutch driver Max Verstappen wins the Azerbaijan Grand Prix at the Baku City Circuit on June 12, 2022. AFP
  • Race winner Max Verstappen greeted by his team. Getty
    Race winner Max Verstappen greeted by his team. Getty
  • Smoke pours from the Ferrari of Charles Leclerc ahed of his retirement. Getty
    Smoke pours from the Ferrari of Charles Leclerc ahed of his retirement. Getty
  • Ferrari drivers Charles Leclerc and Carlos Sainz ahead of the Azerbaijan Grand Prix in Baku. EPA
    Ferrari drivers Charles Leclerc and Carlos Sainz ahead of the Azerbaijan Grand Prix in Baku. EPA
  • Lewis Hamilton and Emirati Mohammed Bin Sulayem, President of FIA, ahead of the race. EPA
    Lewis Hamilton and Emirati Mohammed Bin Sulayem, President of FIA, ahead of the race. EPA

With updates before Barcelona and Silverstone working their magic, the second half of the season is looking a lot more enticing.

"Yes, there was a long way back. Earlier this year, I definitely wasn't sure we would ever get a win in this car," Hamilton told a press conference on Thursday.

"Obviously that's not the way we like to think, but there was a feeling that 'Jesus, there's a long, long way we have to catch everyone', knowing the progress that everyone makes."

The last two races have given cause for the hope that "we're moving in the right direction," he added.

"With a little bit more digging and a little bit more hard work, hopefully we can get a bit closer to having a chance at winning a race.

"So I truly believe we can get a race win this year."

It would be quite a time to get off the mark for the season at the 11th attempt at the circuit owned by world champion Max Verstappen's Red Bull team.

But as pleasing as that would be, Hamilton acknowledges the chocolate-box venue in the Styrian mountains has rarely been a happy hunting ground.

"I think we've always struggled in Austria, so it's going to be hard to win here, I think, knowing the combination of the corners - but not impossible."

F1 drivers' standings

  • F1 2022 Drivers' Standings: 1) Max Verstappen (Red Bull) - 208 points. AFP
    F1 2022 Drivers' Standings: 1) Max Verstappen (Red Bull) - 208 points. AFP
  • 2) Charles Leclerc (Ferrari) - 170 points. Reuters
    2) Charles Leclerc (Ferrari) - 170 points. Reuters
  • 3) Sergio Perez (Red Bull) - 151 points. Reuters
    3) Sergio Perez (Red Bull) - 151 points. Reuters
  • 4) Carlos Sainz Jr (Ferrari) - 133 points. AFP
    4) Carlos Sainz Jr (Ferrari) - 133 points. AFP
  • 5) George Russell (Mercedes) - 128 points. PA
    5) George Russell (Mercedes) - 128 points. PA
  • 6) Lewis Hamilton (Mercedes) - 109 points. Reuters
    6) Lewis Hamilton (Mercedes) - 109 points. Reuters
  • 7) Lando Norris (McLaren) - 64 points. PA
    7) Lando Norris (McLaren) - 64 points. PA
  • 8) Esteban Ocon (Alpine) - 52 points. Getty
    8) Esteban Ocon (Alpine) - 52 points. Getty
  • 8) Valtteri Bottas (Alfa Romeo) - 46 points. Getty
    8) Valtteri Bottas (Alfa Romeo) - 46 points. Getty
  • 10) Fernando Alonso (Alpine) - 29 points. PA
    10) Fernando Alonso (Alpine) - 29 points. PA
  • 11) Kevin Magnussen (Haas) - 22 points. EPA
    11) Kevin Magnussen (Haas) - 22 points. EPA
  • 12) Daniel Ricciardo (McLaren) - 17 points. PA
    12) Daniel Ricciardo (McLaren) - 17 points. PA
  • 13) Pierre Gasly (AlphaTauri) - 16 points. Getty
    13) Pierre Gasly (AlphaTauri) - 16 points. Getty
  • 14) Sebastian Vettel (Aston Martin) - 15 points. Getty
    14) Sebastian Vettel (Aston Martin) - 15 points. Getty
  • 15) Mick Schumacher (Haas) - 12 points. PA
    15) Mick Schumacher (Haas) - 12 points. PA
  • 16) Yuki Tsunoda (AlfaTauri) - 11 points. PA
    16) Yuki Tsunoda (AlfaTauri) - 11 points. PA
  • 17) Zhou Guanyu (Alfa Romeo) - 5 points. Getty
    17) Zhou Guanyu (Alfa Romeo) - 5 points. Getty
  • 18) Alexander Albon (Williams) - 3 points. Getty
    18) Alexander Albon (Williams) - 3 points. Getty
  • 19) Lance Stroll (Aston Martin) - 3 points. Getty
    19) Lance Stroll (Aston Martin) - 3 points. Getty
  • 20) Nicholas Latifi (Williams) - 0 points. Getty
    20) Nicholas Latifi (Williams) - 0 points. Getty
  • Nico Hulkenberg (Aston Martin) - 0 points. Getty
    Nico Hulkenberg (Aston Martin) - 0 points. Getty
The Lowdown

Kesari

Rating: 2.5/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Anubhav Singh
Cast: Akshay Kumar, Parineeti Chopra

 

How much of your income do you need to save?

The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.

In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)

Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.

 

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M3%2C%208-core%20CPU%2C%20up%20to%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.6-inch%20Liquid%20Retina%2C%202560%20x%201664%2C%20224ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%2FUSB-4%20(2)%2C%203.5mm%20audio%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206E%2C%20Bluetooth%205.3%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2052.6Wh%20lithium-polymer%2C%20up%20to%2018%20hours%2C%20MagSafe%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%201080p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20Apple%20ProRes%2C%20HDR%20with%20Dolby%20Vision%2C%20HDR10%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%204-speaker%20system%2C%20wide%20stereo%2C%20support%20for%20Dolby%20Atmos%2C%20Spatial%20Audio%20and%20dynamic%20head%20tracking%20(with%20AirPods)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Midnight%2C%20silver%2C%20space%20grey%2C%20starlight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Air%2C%2030W%2F35W%20dual-port%2F70w%20power%20adapter%2C%20USB-C-to-MagSafe%20cable%2C%202%20Apple%20stickers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh4%2C599%3C%2Fp%3E%0A
BUNDESLIGA FIXTURES

Friday (all kick-offs UAE time)

Hertha Berlin v Union Berlin (10.30pm)

Saturday

Freiburg v Werder Bremen (5.30pm)

Paderborn v Hoffenheim (5.30pm)

Wolfsburg v Borussia Dortmund (5.30pm)

Borussia Monchengladbach v Bayer Leverkusen (5.30pm)

Bayern Munich v Eintracht Frankfurt (5.30pm)

Sunday

Schalke v Augsburg (3.30pm)

Mainz v RB Leipzig (5.30pm)

Cologne v Fortuna Dusseldorf (8pm)

 

 

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

Company%20profile
%3Cp%3E%3Cbr%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Khodar%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Cairo%20and%20Alexandria%2C%20in%20Egypt%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ayman%20Hamza%2C%20Yasser%20Eidrous%20and%20Amr%20El%20Sheikh%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20agriculture%20technology%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%24500%2C000%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Saudi%20Arabia%E2%80%99s%20Revival%20Lab%20and%20others%3Cbr%3E%3Cstrong%3EEmployees%3A%3C%2Fstrong%3E%2035%3C%2Fp%3E%0A
The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

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.”

Our legal consultants

Name: Hassan Mohsen Elhais

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

Saturday's results

Women's third round

  • 14-Garbine Muguruza Blanco (Spain) beat Sorana Cirstea (Romania) 6-2, 6-2
  • Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
  • 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4. 6-0
  • Coco Vandeweghe (USA) beat Alison Riske (USA) 6-2, 6-4
  •  9-Agnieszka Radwanska (Poland) beat 19-Timea Bacsinszky (Switzerland) 3-6, 6-4, 6-1
  • Petra Martic (Croatia) beat Zarina Diyas (Kazakhstan) 7-6, 6-1
  • Magdalena Rybarikova (Slovakia) beat Lesia Tsurenko (Ukraine) 6-2, 6-1
  • 7-Svetlana Kuznetsova (Russia) beat Polona Hercog (Slovenia) 6-4, 6-0

Men's third round

  • 13-Grigor Dimitrov (Bulgaria) beat Dudi Sela (Israel) 6-1, 6-1 -- retired
  • Sam Queery (United States) beat Jo-Wilfried Tsonga (France) 6-2, 3-6, 7-6, 1-6, 7-5
  • 6-Milos Raonic (Canada) beat 25-Albert Ramos (Spain) 7-6, 6-4, 7-5
  • 10-Alexander Zverev (Germany) beat Sebastian Ofner (Austria) 6-4, 6-4, 6-2
  • 11-Tomas Berdych (Czech Republic) beat David Ferrer (Spain) 6-3, 6-4, 6-3
  • Adrian Mannarino (France) beat 15-Gael Monfils (France) 7-6, 4-6, 5-7, 6-3, 6-2
The specs

Engine: 5.2-litre twin-turbo V12

Transmission: eight-speed automatic

Power: 715bhp

Torque: 900Nm

Price: Dh1,289,376

On sale: now

Updated: July 08, 2022, 4:28 AM