Max Verstappen’s wait for a second world championship goes on after he spun and finished seventh as Sergio Perez won Sunday’s chaotic rain-hit Singapore Grand Prix.
Red Bull’s Perez took the chequered flag ahead of Charles Leclerc with his Ferrari teammate Carlos Sainz completing the podium.
Lewis Hamilton started third but finished a disappointing ninth after he hit the wall.
Verstappen heads to next weekend’s Japanese Grand Prix with a 104-point championship lead. He needs to leave Suzuka 112 points clear to take the title and the Dutchman will be crowned champion in Japan if he wins and sets the fastest lap.
Perez’s triumph was subject to an investigation after the race following an infringement behind the safety car. The Mexican took the chequered flag 7.5 seconds ahead of Leclerc, and a five second post-race time penalty did not change the result.
“It was my best performance,” said Perez after the fourth win of his career. “I controlled the race.
“The last few laps were so intense. When I got out of the car I felt it. I gave everything for the win today.”
Red Bull boss Christian Horner added: “Without a shadow of a doubt the best drive of his career. Tricky conditions, he converted the start, he got himself settled into the race, he looked after the intermediate tyres. He was always in control, super cool.
“That’s world class, it’s right up there, for sure his best victory. He’s gone out, he’s delivered and I'm just super proud of him.”
The start of the race under the thousands of bulbs that light up the Marina Bay Circuit was delayed by an hour and five minutes following a huge downpour.
Perez made no mistake when the signal turned to green by beating Leclerc to the opening chicane in the damp conditions.
“Yeah I pushed all the way, the bad start set us on the back foot and after that it was really difficult to race after that,” said Leclerc. “I had a little bit of wheelspin and lost the performance there.
“A difficult race, a good night's sleep and we will get ready for Japan.”
Verstappen, who needed to win to stand any chance of securing back-to-back titles with five rounds spare, started down the order in eighth after his Red Bull team under-fuelled his machine in qualifying, and dropped to 12th following a poor getaway.
He said afterwards: “I dropped the clutch anti-stall. We need to analyse why that happened.
“I tried to pass a few people some worked, others were behind a train. It was really hard to follow.
“It's better than eighth but it's not what I'm here for. Not with a car like that. It was incredibly messy.”
Horner added: “It’s been a tough weekend for him, he was starting out of position obviously he was pushing hard, he was patience throughout the race.”
Third-placed Sainz said: “It was very tough. I never got into the rhythm in the wet and couldn’t challenge with top two guys. When you don’t have that extra confidence, you've got to settle on P3.
“I was quick towards the end when I managed to build a bit of confidence.
“It was a good result for the team and constructors.
“It's crazy how long the track takes to dry. We kept doing laps and you look at the track and the dry lines don't appear.”
On a night to forget for George Russell, the British driver – involved in collisions with Valtteri Bottas and Mick Schumacher – finished last.
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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Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
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LAST 16 DRAW
Borussia Dortmund v PSG
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Napoli v Barcelona
The specs: 2017 Dodge Ram 1500 Laramie Longhorn
Price, base / as tested: Dhxxx
Engine: 5.7L V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 556Nm @ 3,950rpm
Fuel economy, combined: 12.7L / 100km
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TEACHERS' PAY - WHAT YOU NEED TO KNOW
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
Her most famous song
Aghadan Alqak (Would I Ever Find You Again)?
Would I ever find you again
You, the heaven of my love, my yearning and madness;
You, the kiss to my soul, my cheer and
sadness?
Would your lights ever break the night of my eyes again?
Would I ever find you again?
This world is volume and you're the notion,
This world is night and you're the lifetime,
This world is eyes and you're the vision,
This world is sky and you're the moon time,
Have mercy on the heart that belongs to you.
Lyrics: Al Hadi Adam; Composer: Mohammed Abdel Wahab
