NORTHAMPTON, ENGLAND - JULY 14: Valtteri Bottas of Finland and Mercedes GP walks in the Pitlane during practice for the Formula One Grand Prix of Great Britain at Silverstone on July 14, 2017 in Northampton, England. (Photo by Clive Mason/Getty Images)
NORTHAMPTON, ENGLAND - JULY 14: Valtteri Bottas of Finland and Mercedes GP walks in the Pitlane during practice for the Formula One Grand Prix of Great Britain at Silverstone on July 14, 2017 in Northampton, England. (Photo by Clive Mason/Getty Images)
NORTHAMPTON, ENGLAND - JULY 14: Valtteri Bottas of Finland and Mercedes GP walks in the Pitlane during practice for the Formula One Grand Prix of Great Britain at Silverstone on July 14, 2017 in Northampton, England. (Photo by Clive Mason/Getty Images)
NORTHAMPTON, ENGLAND - JULY 14: Valtteri Bottas of Finland and Mercedes GP walks in the Pitlane during practice for the Formula One Grand Prix of Great Britain at Silverstone on July 14, 2017 in North

Bottas loses five places on British Grand Prix grid over gearbox woes


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After setting the pace in practice for the British Grand Prix, Valtteri Bottas' bid for a second successive victory was hit by a five-place penalty on the grid for the Formula One race. 

The sanction was imposed due to an unscheduled change of gearbox because it has not been used for six consecutive races. 

Bottas, who won the Austrian race last weekend, had outpaced Mercedes teammate Lewis Hamilton in practice on Friday. 

Bottas was less than a tenth of a second faster than Hamilton in the afternoon at the Silverstone circuit. 

"There is still work to do to get the car more drivable and to be able to trust it more in the high-speed corners," Bottas said. "But overall it was a good start for the weekend. I'm impressed by the new cars on this track with its high-speed corners. They're so much quicker." 

Hamilton, who failed to make the podium in the last two races, was competing in front of home fans amid an ongoing backlash for being the only driver to fail to attend a live F1 showcase in central London on Wednesday. 

Hamilton's name was jeered when it was mentioned at the Trafalgar Square event, but the three-time world champion reveled in the warm reception at Silverstone. 

"It was already one of the very best circuits in the world. But with this car and the speed we are able to carry through the corners, it's just phenomenal, it's like the greatest roller-coaster ride ever," Hamilton said. "Each time I left the garage I gave the fans a wave and I could see them waving back. I just want them to know that I can see them and I really appreciate all the love and support." 

Hamilton is looking to re-ignite his title challenge, having slipped 20 points behind leader Sebastian Vettel. 

Vettel was fourth fastest in the second practice session, behind Ferrari teammate Kimi Raikkonen, after an experimental transparent screen was removed from the car in the morning. The polycarbonate shield, placed on Vettel's Ferrari for the first time, is designed to protect against flying debris while offering an unrestricted view. 

But it made him feel "dizzy" and he was not overly impressed. 

"The vision is not very good and it's because of the curvature that creates a bit of distortion," Vettel said. "We had a run plan but I didn't like it too much. I couldn't see much." 

The Red Bulls of Max Verstappen and Daniel Ricciardo had gone faster than their Ferrari counterparts in the morning, but they were behind the Italian constructor in the second session. 

"Mercedes are very fast, but if we get everything right we can be challenging Ferrari tomorrow," Ricciardo said, looking ahead to Saturday's qualifying. AP

The biog

Hometown: Birchgrove, Sydney Australia
Age: 59
Favourite TV series: Outlander Netflix series
Favourite place in the UAE: Sheikh Zayed Grand Mosque / desert / Louvre Abu Dhabi
Favourite book: Father of our Nation: Collected Quotes of Sheikh Zayed bin Sultan Al Nahyan
Thing you will miss most about the UAE: My friends and family, Formula 1, having Friday's off, desert adventures, and Arabic culture and people
 

Going grey? A stylist's advice

If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”

Brahmastra%3A%20Part%20One%20-%20Shiva
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EAyan%20Mukerji%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ERanbir%20Kapoor%2C%20Alia%20Bhatt%20and%20Amitabh%20Bachchan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A

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.”

UAE currency: the story behind the money in your pockets

England v South Africa Test series:

First Test: at Lord's, England won by 211 runs

Second Test: at Trent Bridge, South Africa won by 340 runs

Third Test: at The Oval, July 27-31

Fourth Test: at Old Trafford, August 4-8

Tips for avoiding trouble online
  • Do not post incorrect information and beware of fake news
  • Do not publish or repost racist or hate speech, yours or anyone else’s
  • Do not incite violence and be careful how to phrase what you want to say
  • Do not defame anyone. Have a difference of opinion with someone? Don’t attack them on social media
  • Do not forget your children and monitor their online activities
CABINET%20OF%20CURIOSITIES%20EPISODE%201%3A%20LOT%2036
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The Bio

Favourite place in UAE: Al Rams pearling village

What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft

Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans

Best time to swim in the sea: When there is enough light to see beneath the surface

West Asia rugby, season 2017/18 - Roll of Honour

Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain

Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons

West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins

UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles

UAE Premiership - Winners: Dubai Exiles; Runners up: Abu Dhabi Harlequins

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

SCORES IN BRIEF

New Zealand 153 and 56 for 1 in 22.4 overs at close
Pakistan 227
(Babar 62, Asad 43, Boult 4-54, De Grandhomme 2-30, Patel 2-64)

Call of Duty: Black Ops 6

Developer: Treyarch, Raven Software
Publisher:  Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5

The language of diplomacy in 1853

Treaty of Peace in Perpetuity Agreed Upon by the Chiefs of the Arabian Coast on Behalf of Themselves, Their Heirs and Successors Under the Mediation of the Resident of the Persian Gulf, 1853
(This treaty gave the region the name “Trucial States”.)


We, whose seals are hereunto affixed, Sheikh Sultan bin Suggar, Chief of Rassool-Kheimah, Sheikh Saeed bin Tahnoon, Chief of Aboo Dhebbee, Sheikh Saeed bin Buyte, Chief of Debay, Sheikh Hamid bin Rashed, Chief of Ejman, Sheikh Abdoola bin Rashed, Chief of Umm-ool-Keiweyn, having experienced for a series of years the benefits and advantages resulting from a maritime truce contracted amongst ourselves under the mediation of the Resident in the Persian Gulf and renewed from time to time up to the present period, and being fully impressed, therefore, with a sense of evil consequence formerly arising, from the prosecution of our feuds at sea, whereby our subjects and dependants were prevented from carrying on the pearl fishery in security, and were exposed to interruption and molestation when passing on their lawful occasions, accordingly, we, as aforesaid have determined, for ourselves, our heirs and successors, to conclude together a lasting and inviolable peace from this time forth in perpetuity.

Taken from Britain and Saudi Arabia, 1925-1939: the Imperial Oasis, by Clive Leatherdale

Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
  •  14 kilometres is the length of LED lights used on the facade
  •  1,024 individual pieces make up the exterior 
  •  7 floors in all, with one for administrative offices
  •  2,400 diagonally intersecting steel members frame the torus shape
  •  100 species of trees and plants dot the gardens
  •  Dh145 is the price of a ticket
Zodi%20%26%20Tehu%3A%20Princes%20Of%20The%20Desert
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