McLaren driver Oscar Piastri during qualifying at the Enzo and Dino Ferrari racetrack in Imola, Italy. AP
McLaren driver Oscar Piastri during qualifying at the Enzo and Dino Ferrari racetrack in Imola, Italy. AP
McLaren driver Oscar Piastri during qualifying at the Enzo and Dino Ferrari racetrack in Imola, Italy. AP
McLaren driver Oscar Piastri during qualifying at the Enzo and Dino Ferrari racetrack in Imola, Italy. AP

Emilia Romagna Grand Prix: Oscar Piastri steals pole position from Max Verstappen


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Oscar Piastri claimed pole position in a dramatic qualifying session for the Emilia Romagna Grand Prix as Lewis Hamilton suffered an early exit in his first home race for Ferrari and Yuki Tsunoda walked away from a major crash.

Piastri delivered a flawless lap when it mattered to beat Max Verstappen’s time by just 0.034 seconds, after the Dutchman surged to the top of the charts in pursuit of a third successive pole.

Lando Norris could manage only fourth for McLaren – over three tenths off the pole pace – after being edged out at the last by George Russell, who will start from third for Mercedes.

Piastri holds a 16-point lead over Norris in the drivers’ championship heading into this weekend after winning the last three races and four of the first six this season.

Verstappen is a further 16 points behind Norris following a dominant one-two for McLaren in Miami a fortnight ago and may face a tough task to keep Norris at bay on Sunday.

"It was a great session, very tough with the delays and red flags and the tricky tyres," said Piastri.

"The team did a great job and got the car in a nice window, we've been trying a few different things this weekend and we got into a nice place for qualifying."

“The lap was good. I had about four cars in the last corner, which didn’t help, but it was enough. Very, very happy with a job well done and excited for tomorrow now.”

Hamilton had expressed excitement and expectation ahead of his first home race weekend as a Ferrari driver but his Saturday ended in bitter disappointment after he was knocked out in the second part of qualifying.

The 40-year-old had struggled in practice and the Scuderia’s difficult start to the season reached a new low on home soil as Hamilton and teammate Charles Leclerc suffered an early exit.

Leclerc qualified 11th with Hamilton 12th.

“I’m sorry guys, I can’t improve for some reason,” Hamilton said on the team radio.

“My God, my God, my God,” was Leclerc’s verdict.

In further disappointment for the home crowd, Italian Kimi Antonelli could manage only 13th for Mercedes.

Tsunoda skidded across the gravel on the exit of the Villeneuve chicane in the first part of qualifying, with his car crashing into the barriers before being lifted into the air, flipping over before landing upside down and righting itself.

The 25-year-old quickly jumped out of the car, with Red Bull confirming that he was OK and heading for the medical centre.

The opening session was red-flagged for 15 minutes while repairs were made to the tyre barrier.

It was then also brought to an early halt when Franco Colapinto, in his first race back in Formula One after replacing Jack Doohan at Alpine, dipped a wheel into the gravel on the exit of Tamburello and spun into the barriers.

The Argentine was cleared after a visit to the medical centre.

Imola is a track steeped in history but also tragedy, with Roland Ratzenberger and Ayrton Senna dying after crashes during the race weekend in 1994. It returned to the F1 calendar in 2020 after a 14-year hiatus.

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Rating: 1/5

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The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.

Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

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.”

LIVING IN...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Napoleon
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UAE squad

Humaira Tasneem (c), Chamani Senevirathne (vc), Subha Srinivasan, NIsha Ali, Udeni Kuruppuarachchi, Chaya Mughal, Roopa Nagraj, Esha Oza, Ishani Senevirathne, Heena Hotchandani, Keveesha Kumari, Judith Cleetus, Chavi Bhatt, Namita D’Souza.

MATCH INFO

Uefa Champions League, last 16, first leg

Tottenham Hotspur v Borussia Dortmund, midnight (Thursday), BeIN Sports

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
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Updated: May 17, 2025, 4:32 PM