Ross Brawn led a constructors' and drivers' world championship double in 2009 with Jenson Button behind the wheel. Kai Pfaffenbach / Reuters
Ross Brawn led a constructors' and drivers' world championship double in 2009 with Jenson Button behind the wheel. Kai Pfaffenbach / Reuters

Ross Brawn to leave Mercedes after determining ‘timing was right’



Ross Brawn will step down from his position as Mercedes team principal at the end of the year, the German Formula One outfit confirmed on Thursday, ending months of speculation.

The 59 year old is one of the longest-serving figures in modern Formula One but it remains unclear whether he will retire from the sport or join another stable such as Ferrari in 2014 or McLaren-Honda in 2015.

The English engineer largely contributed to the seven world titles won by Germany’s Michael Schumacher at Benetton and then Ferrari.

He then joined Honda F1 as team principal in 2007, buying out the team and renaming it Brawn GP, going on to win the world constructors’ championship and drivers’ title double in 2009 with Jenson Button.

Runners-up in the world constructors’ championship this year behind Red Bull, Mercedes will now be run by joint executive directors - Austrian Toto Wolff in charge of business and Ireland’s Paddy Lowe overseeing the technical side.

“The most important consideration in my decision to step down from the role as team principal was to ensure that the timing was right for the team in order to ensure its future success,” said Brawn, who will formally leave the team on December 31.

“The succession planning process that we have implemented during this year means we are now ready to conduct the transition from my current responsibilities to a new leadership team composed of Toto and Paddy.”

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

British Grand Prix free practice times in the third and final session at Silverstone on Saturday (top five):

1. Lewis Hamilton (GBR/Mercedes) 1:28.063 (18 laps)

2. Sebastian Vettel (GER/Ferrari) 1:28.095 (14)

3. Valtteri Bottas (FIN/Mercedes) 1:28.137 (20)

4. Kimi Raikkonen (FIN/Ferrari) 1:28.732 (15)

5. Nico Hulkenberg (GER/Renault) 1:29.480 (14)

The specs

Engine: 3.8-litre, twin-turbo V8

Transmission: eight-speed automatic

Power: 582bhp

Torque: 730Nm

Price: Dh649,000

On sale: now 

25 Days to Aden

Author: Michael Knights

Pages: 256

Available: January 26

DIVINE INTERVENTOIN

Starring: Elia Suleiman, Manal Khader, Amer Daher

Director: Elia Suleiman

Rating: 4.5/5

SUCCESSION SEASON 4 EPISODE 1

Created by: Jesse Armstrong

Stars: Brian Cox, Jeremy Strong, Kieran Culkin, Sarah Snook, Nicholas Braun

Rating: 4/5

RESULTS

5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
Winner: Al Hazeez, Saif Al Balushi (jockey), Khalifa Al Neyadi (trainer)
5.30pm: Shams Gate Tower – Maiden (PA) Dh80,000 (T) 1,200m
Winner: ES Sudani, Antonio Fresu, Hamad Al Marar
6pm: Al Bahr Towers – Handicap (PA) Dh80,000 (T) 1,200m
Winner: AF Musannef, Tadhg O’Shea, Ernst Oertel
6.30pm: Capital Gate – Maiden (PA) Dh80,000 (T) 1,600m
Winner: Shugga'A Baynounah, Dane O’Neill, Nisren Mahgoub
7pm: Etihad Towers – Conditions (PA) Dh80,000 (T) 1,600m
Winner: AF Maqam, Tadhg O’Shea, Ernst Oertel
7.30pm: Fairmont Marina – Maiden (TB) Dh80,000 (T) 1,600m
Winner: Tempesta D'Oro, Xavier Ziani, Salem bin Ghadayer

CHATGPT ENTERPRISE FEATURES

• Enterprise-grade security and privacy

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• Free credits to use OpenAI APIs to extend OpenAI into a fully-custom solution for enterprises

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.”

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

Ireland v Denmark: The last two years

Denmark 1-1 Ireland 

7/06/19, Euro 2020 qualifier 

Denmark 0-0 Ireland

19/11/2018, Nations League

Ireland 0-0 Denmark

13/10/2018, Nations League

Ireland 1 Denmark 5

14/11/2017, World Cup qualifier

Denmark 0-0 Ireland

11/11/2017, World Cup qualifier

 

 

 

The pillars of the Dubai Metaverse Strategy

Encourage innovation in the metaverse field and boost economic contribution

Develop outstanding talents through education and training

Develop applications and the way they are used in Dubai's government institutions

Adopt, expand and promote secure platforms globally

Develop the infrastructure and regulations

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

Star Wars: Episode I – The Phantom Menace

Developer: Big Ape Productions
Publisher: LucasArts
Consoles: PC, PlayStation
Rating: 2/5

Company profile

Name: Tabby
Founded: August 2019; platform went live in February 2020
Founder/CEO: Hosam Arab, co-founder: Daniil Barkalov
Based: Dubai, UAE
Sector: Payments
Size: 40-50 employees
Stage: Series A
Investors: Arbor Ventures, Mubadala Capital, Wamda Capital, STV, Raed Ventures, Global Founders Capital, JIMCO, Global Ventures, Venture Souq, Outliers VC, MSA Capital, HOF and AB Accelerator.

PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150+ employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

Indoor Cricket World Cup

Venue Insportz, Dubai, September 16-23

UAE squad Saqib Nazir (captain), Aaqib Malik, Fahad Al Hashmi, Isuru Umesh, Nadir Hussain, Sachin Talwar, Nashwan Nasir, Prashath Kumara, Ramveer Rai, Sameer Nayyak, Umar Shah, Vikrant Shetty

As You Were

Liam Gallagher

(Warner Bros)

The specs

Powertrain: Single electric motor
Power: 201hp
Torque: 310Nm
Transmission: Single-speed auto
Battery: 53kWh lithium-ion battery pack (GS base model); 70kWh battery pack (GF)
Touring range: 350km (GS); 480km (GF)
Price: From Dh129,900 (GS); Dh149,000 (GF)
On sale: Now

UAE SQUAD

Jemma Eley, Maria Michailidou, Molly Fuller, Chloe Andrews (of Dubai College), Eliza Petricola, Holly Guerin, Yasmin Craig, Caitlin Gowdy (Dubai English Speaking College), Claire Janssen, Cristiana Morall (Jumeirah English Speaking School), Tessa Mies (Jebel Ali School), Mila Morgan (Cranleigh Abu Dhabi).

The specs

Price, base: Dh228,000 / Dh232,000 (est)
Engine: 5.7-litre Hemi V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 552Nm
Fuel economy, combined: 12.5L / 100km

The specs

Engine: 4.0-litre, twin-turbocharged V8

Transmission: nine-speed automatic

Power: 630bhp

Torque: 900Nm

Price: Dh810,000

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

The specs

Engine: 3.8-litre twin-turbo V8

Power: 611bhp

Torque: 620Nm

Transmission: seven-speed automatic

Price: upon application

On sale: now

Russia's Muslim Heartlands

Dominic Rubin, Oxford

UFC FIGHT NIGHT: SAUDI ARABIA RESULTS

Main card
Middleweight:

Robert Whittaker defeated Ikram Aliskerov via knockout (Round 1)
Heavyweight:
Alexander Volkov def Sergei Pavlovich via unanimous decision
Middleweight:
Kelvin Gastelum def Daniel Rodriguez via unanimous decision
Middleweight:
Shara Magomedov def Antonio Trocoli via knockout (Round 3)
Light heavyweight:
Volkan Oezdemir def Johnny Walker via knockout (Round 1)
Preliminary Card
Lightweight:

Nasrat Haqparast def Jared Gordon via split decision
Featherweight:
Felipe Lima def Muhammad Naimov via submission (Round 3)
Welterweight:
Rinat Fakhretdinov defeats Nicolas Dalby via split decision
Bantamweight:
Muin Gafurov def Kang Kyung-ho via unanimous decision
Light heavyweight:
Magomed Gadzhiyasulov def Brendson Ribeiro via majority decision
Bantamweight:
Chang Ho Lee def Xiao Long via split decision

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

Sly Cooper and the Thievius Raccoonus

Developer: Sucker Punch Productions
Publisher: Sony Computer Entertainment
Console: PlayStation 2 to 5
Rating: 5/5


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