Ferrari's Sebastian Vettel of Germany crosses the finish line to win the Canadian Grand Prix. Paul Chiasson/The Canadian Press via AP
Ferrari's Sebastian Vettel of Germany crosses the finish line to win the Canadian Grand Prix. Paul Chiasson/The Canadian Press via AP
Ferrari's Sebastian Vettel of Germany crosses the finish line to win the Canadian Grand Prix. Paul Chiasson/The Canadian Press via AP
Ferrari's Sebastian Vettel of Germany crosses the finish line to win the Canadian Grand Prix. Paul Chiasson/The Canadian Press via AP

Sebastian Vettel wins the Canadian Grand Prix


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Ferrari’s Sebastian Vettel has won the Canadian Grand Prix after leading the race from the pole to the chequered flag — and then a bit more.

Vettel picked up his second career victory at the Circuit Gilles Villeneuve and the first for Ferrari in Montreal since Michael Schumacher won three in a row from 2002 through 2004. The only hiccup was that the chequered flag was waved prematurely, while Vettel was still on his last lap.

“Tell them not to wave the chequered flag when it’s not done yet,” he radioed back.

With the victory, Vettel took a one-point lead in the Formula One standings over Mercedes’ Lewis Hamilton, who finished fifth.

Valtteri Bottas was second in his Mercedes, about six seconds back. Max Verstappen was third and the other Red Bull car, driven by Daniel Ricciardo, was fourth.

It’s Vettel’s 50th career win and his third of the season.

Starting cleanly and pulling away from the field, Vettel led all 70 laps at the 4.36 kilometre track named for the Ferrari driver and Montreal native who earned his first Formula One victory there 40 years ago.

Vettel grabbed a Ferrari flag and waved it on his way to the podium.

“I feel very emotional,” the German said. “It’s just a day to remember the great Gilles Villeneuve.”

The day was less positive for two-time world champion Fernando Alonso, who was celebrating his 300th Formula One race. He retired to the garage after 43 laps — the eighth time he failed to finish at the Circuit Gilles Villeneuve.

Last year, Alonso was headed for a Top 10 finish before running into engine problems in the 66th lap. He parked his car alongside the track and climbed into the stands to watch the end of the race — to the thrill of the Montreal fans.

It was also a short day for Brandon Hartley and hometown favourite Lance Stroll, who locked up heading into Turn 5 on the first lap. A year ago in Montreal, Stroll picked up the first Formula One points of his career.

Sergio Perez skidded on to the grass on the restart but managed to straighten himself out and rejoin the race in another early mishap.

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Company profile

Company: Eighty6 

Date started: October 2021 

Founders: Abdul Kader Saadi and Anwar Nusseibeh 

Based: Dubai, UAE 

Sector: Hospitality 

Size: 25 employees 

Funding stage: Pre-series A 

Investment: $1 million 

Investors: Seed funding, angel investors  

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

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.”

What is a calorie?

A food calorie, or kilocalorie, is a measure of nutritional energy generated from what is consumed.

One calorie, is the amount of heat needed to raise the temperature of 1 kilogram of water by 1°C.

A kilocalorie represents a 1,000 true calories of energy.

Energy density figures are often quoted as calories per serving, with one gram of fat in food containing nine calories, and a gram of protein or carbohydrate providing about four.

Alcohol contains about seven calories a gram. 

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”