• ON THE GRID FOR 2020 SEASON: Nicholas Latifi (CAN) - Williams. Car: 6; age: 24; starts: 0. The Canadian rookie is partnered with George Russell after Robert Kubica was dropped just one season into his comeback year. AFP
    ON THE GRID FOR 2020 SEASON: Nicholas Latifi (CAN) - Williams. Car: 6; age: 24; starts: 0. The Canadian rookie is partnered with George Russell after Robert Kubica was dropped just one season into his comeback year. AFP
  • George Russell (GBR) - Williams. Car: 63; age: 22; starts: 21; wins: 0. Surely it cannot get any worse for Williams? Despite being able to boast 16 combined drivers' and team titles, the British team finished rooted to the foot of the championship last year after scoring just one point. Reuters
    George Russell (GBR) - Williams. Car: 63; age: 22; starts: 21; wins: 0. Surely it cannot get any worse for Williams? Despite being able to boast 16 combined drivers' and team titles, the British team finished rooted to the foot of the championship last year after scoring just one point. Reuters
  • Kevin Magnussen (DEN) - Haas. Car: 20; age: 27; starts: 102; wins: 0. Having previously established themselves as solid midfield runners, the American team will be looking to bounce back from a disappointing 2019 campaign where they finished ninth. AFP
    Kevin Magnussen (DEN) - Haas. Car: 20; age: 27; starts: 102; wins: 0. Having previously established themselves as solid midfield runners, the American team will be looking to bounce back from a disappointing 2019 campaign where they finished ninth. AFP
  • Romain Grosjean (FRA) - Haas. Car: 8; age: 33; starts: 164; wins: 0. Grosjean will be joined once more by Magnussen - their fourth year together as teammates. Reuters
    Romain Grosjean (FRA) - Haas. Car: 8; age: 33; starts: 164; wins: 0. Grosjean will be joined once more by Magnussen - their fourth year together as teammates. Reuters
  • Antonio Giovinazzi (ITA) - Alfa Romeo. Car: 99; age: 26; starts: 23; wins: 0. Italian Giovinazzi has been retained by Alfa Romeo for a second season. EPA
    Antonio Giovinazzi (ITA) - Alfa Romeo. Car: 99; age: 26; starts: 23; wins: 0. Italian Giovinazzi has been retained by Alfa Romeo for a second season. EPA
  • Kimi Raikkonen (FIN) - Alfa Romeo. Car: 7; age: 40; starts: 312; wins: 21; championships: 1 (2007). Former world champion Raikkonen will this year become the most-capped F1 driver. The veteran Finn is just 10 races shy of Rubens Barrichello's record of 322 starts. EPA
    Kimi Raikkonen (FIN) - Alfa Romeo. Car: 7; age: 40; starts: 312; wins: 21; championships: 1 (2007). Former world champion Raikkonen will this year become the most-capped F1 driver. The veteran Finn is just 10 races shy of Rubens Barrichello's record of 322 starts. EPA
  • Lance Stroll (CAN) - Racing Point. Car: 18; age: 21; starts: 62; wins: 0. Canadian Stroll starts his second campaign at Racing Point. EPA
    Lance Stroll (CAN) - Racing Point. Car: 18; age: 21; starts: 62; wins: 0. Canadian Stroll starts his second campaign at Racing Point. EPA
  • Sergio Perez (MEX) - Racing Point. Car: 11; age: 30; starts: 176; wins: 0. Following a rather underwhelming campaign, Racing Point proved to be one of the major talking points at testing after their new car resembled a carbon-copy of last year's title-winning Mercedes. Mexican driver Perez has been with the team since 2014. Reuters
    Sergio Perez (MEX) - Racing Point. Car: 11; age: 30; starts: 176; wins: 0. Following a rather underwhelming campaign, Racing Point proved to be one of the major talking points at testing after their new car resembled a carbon-copy of last year's title-winning Mercedes. Mexican driver Perez has been with the team since 2014. Reuters
  • Daniil Kvyat (RUS) - Alphatauri. Car: 26; age: 25; starts: 93; wins: 0. The Russian was retained for a second straight year of his yo-yo career. EPA
    Daniil Kvyat (RUS) - Alphatauri. Car: 26; age: 25; starts: 93; wins: 0. The Russian was retained for a second straight year of his yo-yo career. EPA
  • Pierre Gasly (FRA) - Alphatauri. Car: 10; age: 24; starts: 47; wins: 0. A new season and a new name for Red Bull's junior team with Toro Rosso re-branded as AlphaTauri for the forthcoming campaign. Gasly, dropped by Red Bull midway through last season, drives alongside Kvyat. EPA
    Pierre Gasly (FRA) - Alphatauri. Car: 10; age: 24; starts: 47; wins: 0. A new season and a new name for Red Bull's junior team with Toro Rosso re-branded as AlphaTauri for the forthcoming campaign. Gasly, dropped by Red Bull midway through last season, drives alongside Kvyat. EPA
  • Esteban Ocon (FRA) - Renault. Car: 31; age: 23; starts: 50; wins: 0. Ocon spent last season on the sidelines after losing his seat to Lance Stroll at Racing Point. Reuters
    Esteban Ocon (FRA) - Renault. Car: 31; age: 23; starts: 50; wins: 0. Ocon spent last season on the sidelines after losing his seat to Lance Stroll at Racing Point. Reuters
  • Daniel Ricciardo (AUS) - Renault. Car: 3; age: 30; starts: 171; wins: 7. Ricciardo is joined by Ocon as Renault bid to bounce back from a disappointing 2019. EPA
    Daniel Ricciardo (AUS) - Renault. Car: 3; age: 30; starts: 171; wins: 7. Ricciardo is joined by Ocon as Renault bid to bounce back from a disappointing 2019. EPA
  • Lando Norris (GBR) - McLaren. Car: 4; age: 20; starts : 21; wins: 0. After an impressive rookie campaign, British driver Norris is set for his second season in F1. AFP
    Lando Norris (GBR) - McLaren. Car: 4; age: 20; starts : 21; wins: 0. After an impressive rookie campaign, British driver Norris is set for his second season in F1. AFP
  • Carlos Sainz (ESP) - McLaren. Car: 55; age: 25; starts: 102; wins: 0. McLaren emerged from the doldrums last season with their best performance in years as they finished fourth in the constructors' table. Sainz also scored McLaren's first podium since 2012 when he was promoted to third in Brazil. EPA
    Carlos Sainz (ESP) - McLaren. Car: 55; age: 25; starts: 102; wins: 0. McLaren emerged from the doldrums last season with their best performance in years as they finished fourth in the constructors' table. Sainz also scored McLaren's first podium since 2012 when he was promoted to third in Brazil. EPA
  • Alexander Albon (THA) - Red Bull. Car: 23; age: 23; starts: 21; wins: 0. London-born Albon is set for just his second season in F1 and his first full campaign as a Red Bull driver after he was promoted from Toro Rosso following last year's summer break. EPA
    Alexander Albon (THA) - Red Bull. Car: 23; age: 23; starts: 21; wins: 0. London-born Albon is set for just his second season in F1 and his first full campaign as a Red Bull driver after he was promoted from Toro Rosso following last year's summer break. EPA
  • Max Verstappen (NED) - Red Bull. Car: 33; age: 22; starts: 102; wins: 7. Verstappen was one of the stars of last year after he finished third in the championship behind Lewis Hamilton and Bottas. Verstappen, 22, could prove Hamilton's closest challenger if Red Bull can build on a package which fired the Dutchman to three victories last season. Reuters
    Max Verstappen (NED) - Red Bull. Car: 33; age: 22; starts: 102; wins: 7. Verstappen was one of the stars of last year after he finished third in the championship behind Lewis Hamilton and Bottas. Verstappen, 22, could prove Hamilton's closest challenger if Red Bull can build on a package which fired the Dutchman to three victories last season. Reuters
  • Charles Leclerc (MON) - Ferrari. Car: 16; age: 22; starts: 42; wins: 2. Last year, Leclerc finished ahead of Vettel in the championship, scoring a greater number of pole positions and victories than his four-time world championship-winning teammate. Reuters
    Charles Leclerc (MON) - Ferrari. Car: 16; age: 22; starts: 42; wins: 2. Last year, Leclerc finished ahead of Vettel in the championship, scoring a greater number of pole positions and victories than his four-time world championship-winning teammate. Reuters
  • Sebastian Vettel (GER) - Ferrari. Car: 5; age: 32; starts: 240; wins: 53; championships: 4 (2010, 2011, 2012, 2013). Vettel and Leclerc will lock horns for a second season in what is the sport's fiercest team rivalry. Their combustible relationship spilled over in Brazil when they collided, forcing both drivers out of the race. Ferrari have not celebrated a drivers' champion since 2007, and after a mixed pre-season campaign, the Italian team fear they will start this year on the back foot. EPA
    Sebastian Vettel (GER) - Ferrari. Car: 5; age: 32; starts: 240; wins: 53; championships: 4 (2010, 2011, 2012, 2013). Vettel and Leclerc will lock horns for a second season in what is the sport's fiercest team rivalry. Their combustible relationship spilled over in Brazil when they collided, forcing both drivers out of the race. Ferrari have not celebrated a drivers' champion since 2007, and after a mixed pre-season campaign, the Italian team fear they will start this year on the back foot. EPA
  • Valtteri Bottas (FIN) - Mercedes. Car: 77; age: 30; starts: 139; wins: 7. Bottas partners world champion Lewis Hamilton for a fourth straight season. Reuters
    Valtteri Bottas (FIN) - Mercedes. Car: 77; age: 30; starts: 139; wins: 7. Bottas partners world champion Lewis Hamilton for a fourth straight season. Reuters
  • Lewis Hamilton (GBR) - Mercedes. Car: 44; age: 35; starts: 250; wins: 84; championships: 6 (2008, 2014, 2015, 2017, 2018, 2019). Mercedes have been the dominant team in Formula One since 2014, winning a record six consecutive drivers' and constructors' championships. Hamilton has been the driving force behind their success and the British driver will start the new campaign as the favourite to win his sixth world championship in seven years to equal Michael Schumacher's overall record. Reuters
    Lewis Hamilton (GBR) - Mercedes. Car: 44; age: 35; starts: 250; wins: 84; championships: 6 (2008, 2014, 2015, 2017, 2018, 2019). Mercedes have been the dominant team in Formula One since 2014, winning a record six consecutive drivers' and constructors' championships. Hamilton has been the driving force behind their success and the British driver will start the new campaign as the favourite to win his sixth world championship in seven years to equal Michael Schumacher's overall record. Reuters

Formula One: season-opening Austrian Grand Prix given green light by government


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Formula One's truncated, coronavirus-hit season will finally get underway after the Austrian Grand Prix on July 5 was given the green light.

The Austrian government has also given permission for the Spielberg circuit to stage a second race the following weekend.

Following weeks of discussions between F1, Red Bull Ring chiefs and local authorities, a safety plan regarding precautions to be taken amid the coronavirus pandemic has been signed off.

"The two Formula One races on July 5 and 12 at Spielberg will be staged without spectators," said Austrian Health Minister Rudolf Anschober.

He added that the two races had been approved after F1 organisers "had presented a complete and professional plan" to combat the spread of Covid-19.

F1 anaging director of motorsport Ross Brawn had already revealed plans for a ‘biosphere’ at races.

This includes that idea that everyone from F1 will land with charter flights directly next to the Red Bull Ring, at the military airfield near the circuit.

Anyone entering Austria for  F1 must have themselves been tested for the coronavirus before entering the country and present a corresponding health certificate.

The F1 season was thrown into chaos with the cancellation of the traditional curtain-raising Australian Grand Prix in March only hours before practice was due to begin.

It was one of 10 races either cancelled or postponed, yet F1 boss Chase Carey has insisted that a 15-18 race season is still possible.

If the two races in Spielberg go smoothly, the season could continue without a break on July 19 in Hungary.

But Silverstone's hopes of also staging back-to-back races are in the balance after the British government insisted that all arrivals in the country undergo a two-week quarantine period.

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

COMPANY%20PROFILE
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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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yallacompare profile

Date of launch: 2014

Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer

Based: Media City, Dubai 

Sector: Financial services

Size: 120 employees

Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)

Dubai Women's Tour teams

Agolico BMC
Andy Schleck Cycles-Immo Losch
Aromitalia Basso Bikes Vaiano
Cogeas Mettler Look
Doltcini-Van Eyck Sport
Hitec Products – Birk Sport 
Kazakhstan National Team
Kuwait Cycling Team
Macogep Tornatech Girondins de Bordeaux
Minsk Cycling Club 
Pannonia Regional Team (Fehérvár)
Team Auvergne-Rhône-Alpes
Team Ciclotel
UAE Women’s Team
Under 23 Kazakhstan Team
Wheel Divas Cycling Team

Sinopharm vaccine explained

The Sinopharm vaccine was created using techniques that have been around for decades. 

“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.

"What is left is a skeleton of the virus so it looks like a virus, but it is not live."

This is then injected into the body.

"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.

"You have to be exposed more than one time to what we call the antigen."

The vaccine should offer protection for at least months, but no one knows how long beyond that.

Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.

“Since it is inactivated, it will not last forever," she said.