Max Verstappen and Red Bull are set for a poignant return to Austria praying the closing pack do not spoil the party.
It will be the first time the Formula One champions have raced on their home track since billionaire co-founder Dietrich Mateschitz died last October aged 78.
Their Austrian benefactor has been one of the most influential men in F1 history. He not only financed the team and its sister operation, AlphaTauri, but invested tens of millions re-building the Spielberg scene of Sunday’s Grand Prix near Graz and getting it back on the calendar.
On pure form there is only one team in the game as Red Bull have won all eight Grands Prix so far but the rest are closing in.
Max Verstappen’s 50-second advantage at the opening round in Bahrain has been trimmed to less than 10 seconds at the last round in Canada.
But with Montreal showing that even a little rain can wreak chaos, it will warm fans’ hearts to know the forecast for the weekend is rain, rain and more rain, and that should make it the toughest test yet for the young Dutchman, especially with the packed sprint schedule.
There will be just one practice session Friday morning before afternoon qualifying for Sunday’s race. Then Saturday will see a shortened 30m qualifying for the afternoon mini race as F1 experiments again with the sprint format.
As the most successful driver at Spielberg in recent history with four wins, it is pressure Verstappen has overcome before, and he, no doubt, gets a boost from knowing it has proven the Achilles Heel of his biggest rival, Lewis Hamilton, time and again.
The Mercedes driver's perennial struggle to produce his best on the 10-corner shortest lap in F1, at just over one minute long, is well known.
While he has won other events like Hungary, Silverstone or Montreal seven or eight times, Hamilton has only collected as many wins (two) here as both his previous teammates, Valtteri Bottas and Nico Rosberg. And with the upgraded Silver Arrows suffering most in slow corners, the seven-time champion is not optimistic for Austria.
“It's definitely not the car that, characteristic-wise, is going to be able to beat the Red Bull just yet. We need to work on that,” he said.
Fernando Alonso said Aston Martin could also struggle to maximise the return from their upgrades because testing is severely limited by the intense sprint schedule.
Last year’s Spielberg race was a season-high for Ferrari as they search desperately for some consistency.
Perhaps they can take encouragement from the fact that their only podium came at the last sprint race in Baku, and the fact that Charles Leclerc won Austria last year on merit. This race, then, marks a week short of an entire year since the red racers last triumphed.
It was, also, the last time the Dutchman failed to win back to back races, but his response to the setback is a warning to all. While Maranello suffered an epic collapse thereafter, Verstappen responded like a champion, winning the next five in a row.
It is a trough new boss Fred Vasseur is still struggling to pull Ferrari out of as they have sunk to fourth in the pecking order.
Red Bull’s No 2 Sergio Perez also looks to rediscover his mojo after four battering wins on the trot by the relentless Verstappen appear to have scrambled the Mexicans brains.
Two wins in the first four races have been followed by a string of mistakes by Perez as the pressure has mounted to match the relentless speed of the sport’s fastest man.
Behind him Lando Norris’ McLaren team begin a renewed assault on the midfield with a three phase upgrade.
While French rivals Alpine bring similar hopes after announcing $218 million in backing from a consortium led by stars Ryan Reynolds and Rob McElhenney, and if anywhere can provide the kind of drama that has those Hollywood types drooling, it is Spielberg and its notoriously fickle climate.
Hour to hour the weather can flip from idyllic, plush green, sun-kissed Sound of Music scenery to sudden squalls and crashing rain as dark clouds roll off the Alps.
On current form it appears it will take that kind of help, or some divine intervention, for anyone to spoil Red Bull’s plans for the ultimate 25 point tribute to their founder in the fields where he was born and Verstappen reigns.
SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
HIV on the rise in the region
A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.
New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
Access to HIV testing, treatment and care in the region is well below the global average.
Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.
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.”
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
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Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
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UAE currency: the story behind the money in your pockets
Chelsea 2 Burnley 3
Chelsea Morata (69'), Luiz (88')
Burnley Vokes (24', 43'), Ward (39')
Red cards Cahill, Fabregas (Chelsea)
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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UAE currency: the story behind the money in your pockets