Abu Dhabi Grand Prix: Plenty to race for, with or without Covid-battling Lewis Hamilton


Amith Passela
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Abu Dhabi Grand Prix organisers are expecting a dramatic Formula One finale on Sunday – whether or not seven-time world champion Lewis Hamilton makes the starting grid.

The Briton tested positive for Covid-19 last week, and is undergoing quarantine in Bahrain after missing Sunday's Sakhir Grand Prix.

It will be touch and go whether Hamilton will recover in time but Saif Al Noaimi, acting chief executive officer of Abu Dhabi Motorsports Management, believes there is so much to race for at Yas that the thrills are virtually guaranteed.

“It has been a very exciting season and we are very much looking forward for that action in Abu Dhabi as well,” Al Noaimi said. “We know there are quite a few battles still on the plate."

The fight for second position in the driver’s championship is ongoing between Mercedes' Valtteri Bottas (205 points) and Red Bull's Max Verstappen (189). Also open is third spot in the constructor’s championship, resting between Racing Point, McLaren and Renault.

“There is quite a lot of excitement to see the outcome of these challenges play out,” added Al Noaimi.

“There have been five different drivers on the podium across the 16 races in the 2020 calendar and it’s been an interesting season.

“Four different teams with five different drivers have won so far. So there has been a level of excitement and uncertainty going into each Grand Prix. It is a result of a lot of midfield teams going up the ranks and challenging for the win.”

Al Noaimi is waiting for further updates on the world champion, adding: “We are hopeful he’ll make a full recovery and be able to join us in Abu Dhabi.

“Obviously everybody here loves to watch Hamilton race. However, first we want to wish him well and wish him a speedy recovery.

“There is a specific protocol by the FIA which determines if a driver is fit to travel to the following event. That hasn’t been still confirmed. We are waiting for a decision on his situation.

“On the other hand, in the event he’s unable to attend that obviously opens up the competition and the number of points on the table for everybody else."

Saif Al Noaimi, acting chief executive officer of Abu Dhabi Motorsport Management. Courtesy Seven Media
Saif Al Noaimi, acting chief executive officer of Abu Dhabi Motorsport Management. Courtesy Seven Media

While the race will be held without spectators, the organisers will have a limited number of seats made available for the frontline heroes.

“We are extremely excited to welcome our frontline heroes in a limited capacity [200 each across the three days],” Al Noaimi said.

“It is truly a pleasure for us to be able to host them and organise an event in a safe manner to honour them and give them an opportunity to be able to see the action."

The focus this year has been health and safety, and looking after all those involved in the event from the teams to drivers, officials to FIA management.

“We are fortunate in Abu Dhabi to have a very good response to the pandemic and we are fortunate we have the ability to host such events,” said Al Noaimi.

“We have seen the likes of the Indian Premier League and the UFC Fight Island events delivered in Abu Dhabi in a safe manner.

“It was important for us to ensure the Abu Dhabi Grand Prix still took place as the season finale that everybody has become accustomed to and delivered in a safe manner."

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Syria squad

Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.

MATCH INFO

Champions League quarter-final, first leg

Manchester United v Barcelona, Wednesday, 11pm (UAE)

Match on BeIN Sports

Major honours

ARSENAL

  • FA Cup - 2005

BARCELONA

  • La Liga - 2013
  • Copa del Rey - 2012
  • Fifa Club World Cup - 2011

CHELSEA

  • Premier League - 2015, 2017
  • FA Cup - 2018
  • League Cup - 2015

SPAIN

  • World Cup - 2010
  • European Championship - 2008, 2012

Top 5 concerns globally:

1. Unemployment

2. Spread of infectious diseases

3. Fiscal crises

4. Cyber attacks

5. Profound social instability

Top 5 concerns in the Mena region

1. Energy price shock

2. Fiscal crises

3. Spread of infectious diseases

4. Unmanageable inflation

5. Cyber attacks

Source: World Economic Foundation

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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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Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5