ABU DHABI // If ever there was any doubt, Sebastian Vettel confirmed under the floodlights at Yas Marina Circuit on Friday night that he has no intention of taking his foot off the gas just because he has a fourth consecutive world championship sewn up like a racing glove.
The Red Bull Racing driver secured the 2013 title only a few days ago, but any talk of the German coasting to the end of the season was dismissed when he clocked the fastest lap time in the opening practice session ahead of Sunday's Etihad Airways Abu Dhabi Grand Prix.
Vettel lapped the 5.5km circuit in 1 minute, 41.33 seconds to remain the favourite for pole position at a venue where he has set the pace in two of the past four years. Mark Webber, his teammate, had the second-best time at 0.15s behind.
“It’s difficult to say how we compare to the others, as we know the Lotus is quick here, but we also had decent pace,” Vettel said. “It’s not always so easy at this circuit, with the conditions changing throughout the day. We start in the sun and finish at night and the track temperature changes during that time. But, no big issues, so I’m pretty happy.”
Vettel is chasing his seventh successive race win this season, a feat that would equal his German compatriot Michael Schumacher’s modern-day record, set in 2004. Victories at all three remaining races would see the sport’s youngest quadruple champion equal the F1 record of nine consecutive victories, set by Italian Alberto Ascari over the 1952 and 1953 seasons.
Webber, meanwhile, is out to end his F1 career on a high after deciding he will quit the sport following the season finale later this month. The Australian driver has won at least one grand prix every year since 2009, but has yet to finish atop the podium in his final season. Bad luck has plagued his car throughout the year, but barring technical issues, he is hoping to push teammate Vettel all the way.
“The second session was more representative of the race and qualifying than the first, due to the time of day and temperatures,” said Webber, who finished fourth-fastest in the early session. “It wasn’t a bad feeling for the first day. We got the information we needed, so let’s see how we get on [in qualifying]. We’ll go through everything and try to understand the car on both tyre compounds.”
The Red Bull pair appeared ominously quicker than any of their rivals, with Vettel’s lap proving 0.35s faster than Lewis Hamilton of Mercedes, who himself was only hundredths ahead of Kimi Raikkonen and Nico Rosberg after their low-fuel, soft tyre simulations.
Hamilton took pole position at the inaugural Abu Dhabi race in 2009, yet had to wait until 2011 before he actually tasted the rosewater that accompanies victory here.
Mercedes’ performance has dipped in recent months, however, as the German manufacturers continue their quest to secure second place in the constructors’ championship – and the increased prize money it brings.
Their 2008 world champion explained some of the difficulties of trying to set up at Yas.
“As the temperatures cool down, the characteristics of the car change and you get an increase in understeer, so the main challenge is to try and pre-empt the set-up that you’re going to need,” Hamilton said. “Physically, it gets easier when the sun goes down, but you don’t even notice the visibility change as they do such a good job of lighting the track.
“A decent start, but there’s a lot of work ahead of us over the weekend and we’ll give it everything we can – as always.”
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Top times
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Despite arriving late Kimi Raikkonen still proved quick.
Position, driver, team and time
1 Vettel, Red Bull 1m41.335secs
2 Webber, Red Bull 1.41.490
3 Hamilton, Mercedes 1.41.690
4 Raikkonen, Lotus 1.41.726
5 Rosberg, Mercedes 1.41.758
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Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
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What can victims do?
Always use only regulated platforms
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Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FOLD5
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COMPANY PROFILE
Name: Mamo
Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua
Based: Dubai, UAE
Number of employees: 28
Sector: Financial services
Investment: $9.5m
Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors.
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The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
Dengue%20fever%20symptoms
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Illegal%20shipments%20intercepted%20in%20Gulf%20region
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Company%20Profile
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Fixtures
Opening day Premier League fixtures for August 9-11
August 9
Liverpool v Norwich 11pm
August 10
West Ham v Man City 3.30pm
Bournemouth v Sheffield Utd 6pm
Burnley v Southampton 6pm
C Palace v Everton 6pm
Leicester v Wolves 6pm
Watford v Brighton 6pm
Tottenham v Aston Villa 8.30pm
August 11
Newcastle v Arsenal 5pm
Man United v Chelsea 7.30pm
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test Thursday-Monday at Colombo
- 3rd Test August 12-16 at Pallekele
'Peninsula'
Stars: Gang Dong-won, Lee Jung-hyun, Lee Ra
Director: Yeon Sang-ho
Rating: 2/5
Five hymns the crowds can join in
Papal Mass will begin at 10.30am at the Zayed Sports City Stadium on Tuesday
Some 17 hymns will be sung by a 120-strong UAE choir
Five hymns will be rehearsed with crowds on Tuesday morning before the Pope arrives at stadium
‘Christ be our Light’ as the entrance song
‘All that I am’ for the offertory or during the symbolic offering of gifts at the altar
‘Make me a Channel of your Peace’ and ‘Soul of my Saviour’ for the communion
‘Tell out my Soul’ as the final hymn after the blessings from the Pope
The choir will also sing the hymn ‘Legions of Heaven’ in Arabic as ‘Assakiroo Sama’
There are 15 Arabic speakers from Syria, Lebanon and Jordan in the choir that comprises residents from the Philippines, India, France, Italy, America, Netherlands, Armenia and Indonesia
The choir will be accompanied by a brass ensemble and an organ
They will practice for the first time at the stadium on the eve of the public mass on Monday evening
Mohammed bin Zayed Majlis
RESULTS
6pm: Al Maktoum Challenge Round-2 – Group 1 (PA) $55,000 (Dirt) 1,900m
Winner: Rajeh, Antonio Fresu (jockey), Musabah Al Muhairi (trainer)
6.35pm: Oud Metha Stakes – Rated Conditions (TB) $60,000 (D) 1,200m
Winner: Get Back Goldie, William Buick, Doug O’Neill
7.10pm: Jumeirah Classic – Listed (TB) $150,000 (Turf) 1,600m
Winner: Sovereign Prince, James Doyle, Charlie Appleby
7.45pm: Firebreak Stakes – Group 3 (TB) $150,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer
8.20pm: Al Maktoum Challenge Round-2 – Group 2 (TB) $350,000 (D) 1,900m
Winner: Hot Rod Charlie, William Buick, Doug O’Neill
8.55pm: Al Bastakiya Trial – Conditions (TB) $60,000 (D) 1,900m
Winner: Withering, Adrie de Vries, Fawzi Nass
9.30pm: Balanchine – Group 2 (TB) $180,000 (T) 1,800m
Winner: Creative Flair, William Buick, Charlie Appleby
Brief scoreline:
Toss: South Africa, elected to bowl first
England (311-8): Stokes 89, Morgan 57, Roy 54, Root 51; Ngidi 3-66
South Africa (207): De Kock 68, Van der Dussen 50; Archer 3-27, Stokes 2-12
The specs: 2018 Renault Koleos
Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 170hp @ 6,000rpm
Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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.”
If you go
The flights
Emirates flies from Dubai to Seattle from Dh5,555 return, including taxes.
The car
Hertz offers compact car rental from about $300 (Dh1,100) per week, including taxes. Emirates Skywards members can earn points on their car hire through Hertz.
The national park
Entry to Mount Rainier National Park costs $30 for one vehicle and passengers for up to seven days. Accommodation can be booked through mtrainierguestservices.com. Prices vary according to season. Rooms at the Holiday Inn Yakima cost from $125 per night, excluding breakfast.
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