A "gobsmacked" Lewis Hamilton obliterated the Shanghai lap record to take a stunning pole position on Friday for the Chinese Grand Prix sprint in only his second race weekend with Ferrari.
Hamilton, who has won a record six Chinese Grands Prix, flew round the resurfaced 5.451km Shanghai International Circuit in 1min 30.849sec.
His lap easily beat the 1:32.238 set in 2004 at the inaugural Chinese GP by fellow seven-time world champion Michael Schumacher, also in a Ferrari.
Reigning world champion Max Verstappen of Red Bull, who won both the sprint and main race in China last year, was second fastest 0.018sec behind and McLaren's Oscar Piastri was third.
Charles Leclerc was fourth as Ferrari showed a big improvement from Melbourne, where Hamilton was 10th and Leclerc eighth – the Scuderia's worst season-opening performance since 2009.
"I'm just a bit gobsmacked, taken back by it. I didn't know when we would get to this position," said Hamilton, who emerged from his car to a huge ovation from the Chinese fans.
"I started out straight away with a better feeling in the car. I can't believe we are at the front, ahead of a McLaren which has been so fast throughout winter testing, Australia and even today."
A big surprise was Melbourne winner Lando Norris, whose McLaren had been fastest by almost half a second in morning practice ahead of Leclerc, Piastri and Hamilton.
Norris was sixth after he ran wide and aborted his final flying lap.
"I made a mistake. I locked up in the last corner," admitted Norris, who complained his car was not to his liking.
"Just too many mistakes but just too difficult of a car to drive," the Englishman said.
Verstappen said he was fortunate to be second on the grid for the sprint race.
"The lap was very good. I don't even think we should have been on the front row anyway so I'm very happy to be second," said the four-time world champion.
Mercedes' George Russell was fifth with his teammate Kimi Antonelli seventh behind Norris.
Yuki Tsunoda's RB, Alex Albon's Williams and Lance Stroll's Aston Martin rounded out the top 10.
Ferrari team principal Fred Vasseur said it was difficult to understand the difference between Friday's sessions.
"Sometimes McLaren had a huge gap, sometimes not so. Let's analyse it. We have a lot of work to do," Vasseur told Sky Sports F1.
"For sure it's a good feeling and gives a positive energy to the team and Lewis, but I always see the negative side."
All the cars were obligated to run medium-compound tyres in the first two sprint qualifying sessions, termed SQ1 and SQ2.
Red Bull rookie Liam Lawson had a bad start to his weekend, failing to get out of the first session after having a lap time deleted for exceeding track limits and the New Zealander will start 20th and last.
Also eliminated after the first session were the Alpine pair of Jack Doohan and Pierre Gasly, Haas' Esteban Ocon and the Sauber of Nico Hulkenberg.
In SQ2, Fernando Alonso was 11th in the Aston Martin and missed out on the top-10 shootout.
Also eliminated were Oliver Bearman's Haas, the Williams of Carlos Sainz, Gabriel Bortoleto in a Sauber and Isack Hadjar's RB.
The 19-lap sprint race will take place on Saturday morning before grand prix qualifying later the same day.
Sunday sees the Chinese Grand Prix over 56 laps.
Cricket World Cup League 2
UAE results
Lost to Oman by eight runs
Beat Namibia by three wickets
Lost to Oman by 12 runs
Beat Namibia by 43 runs
UAE fixtures
Free admission. All fixtures broadcast live on icc.tv
Tuesday March 15, v PNG at Sharjah Cricket Stadium
Friday March 18, v Nepal at Dubai International Stadium
Saturday March 19, v PNG at Dubai International Stadium
Monday March 21, v Nepal at Dubai International Stadium
BANGLADESH SQUAD
Mashrafe Mortaza (captain), Tamim Iqbal, Liton Das, Soumya Sarkar, Mushfiqur Rahim (wicketkeeper), Mahmudullah, Shakib Al Hasan (vice captain), Mohammad Mithun, Sabbir Rahaman, Mosaddek Hossain, Mohammad Saifuddin, Mehidy Hasan Miraz, Rubel Hossain, Mustafizur Rahman, Abu Jayed (Reporting by Rohith Nair in Bengaluru Editing by Amlan Chakraborty)
What is hepatitis?
Hepatitis is an inflammation of the liver, which can lead to fibrosis (scarring), cirrhosis or liver cancer.
There are 5 main hepatitis viruses, referred to as types A, B, C, D and E.
Hepatitis C is mostly transmitted through exposure to infective blood. This can occur through blood transfusions, contaminated injections during medical procedures, and through injecting drugs. Sexual transmission is also possible, but is much less common.
People infected with hepatitis C experience few or no symptoms, meaning they can live with the virus for years without being diagnosed. This delay in treatment can increase the risk of significant liver damage.
There are an estimated 170 million carriers of Hepatitis C around the world.
The virus causes approximately 399,000 fatalities each year worldwide, according to WHO.
'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Monster Hunter: World
Capcom
PlayStation 4, Xbox One
More on Quran memorisation:
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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.”
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
Profile of Tarabut Gateway
Founder: Abdulla Almoayed
Based: UAE
Founded: 2017
Number of employees: 35
Sector: FinTech
Raised: $13 million
Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.
Favourite book: ‘The Art of Learning’ by Josh Waitzkin
Favourite film: Marvel movies
Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence
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RESULTS
Welterweight
Tohir Zhuraev (TJK) beat Mostafa Radi (PAL)
(Unanimous points decision)
Catchweight 75kg
Anas Siraj Mounir (MAR) beat Leandro Martins (BRA)
(Second round knockout)
Flyweight (female)
Manon Fiorot (FRA) beat Corinne Laframboise (CAN)
(RSC in third round)
Featherweight
Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki
(Disqualification)
Lightweight
Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)
(Unanimous points)
Featherweight
Yousef Al Housani (UAE) beat Mohamed Fargan (IND)
(TKO first round)
Catchweight 69kg
Jung Han-gook (KOR) beat Max Lima (BRA)
(First round submission by foot-lock)
Catchweight 71kg
Usman Nurmogamedov (RUS) beat Jerry Kvarnstrom (FIN)
(TKO round 1).
Featherweight title (5 rounds)
Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)
(TKO round 1).
Lightweight title (5 rounds)
Bruno Machado (BRA) beat Mike Santiago (USA)
(RSC round 2).