It was easy to focus on Lewis Hamilton’s elation as he stood on the top step of the podium at the Etihad Airways Abu Dhabi Grand Prix last year.
But another feel-good story was just to his right.
A competitive second-place finish, in which he had pushed Hamilton hard, confirmed the renaissance of Felipe Massa as a top-tier F1 contender.
“It was a really good race,” said the Williams driver as he recalled the 2014 event, where he cut Hamilton’s lead from nine seconds to two in the final laps.
“Maybe, if I was two or even three seconds closer to him when I started that final stint, it would have definitely been very possible to win, but it was good to be up there fighting.”
In the past, winning was a regular occurrence for Massa, 34.
After joining Ferrari from Sauber in 2006 he won 11 races in three years and missed out on the 2008 title by a single point.
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What followed were a series of setbacks. He suffered a fractured skull at the Hungarian Grand Prix in 2009 when debris from another car struck his helmet at high speed.
When he returned to racing in 2010 he found himself struggling against teammate Fernando Alonso, who had become the focus of the team.
Massa’s past successes seemed almost forgotten. No further wins came for him.
Since leaving Ferrari to join Williams at the start of the 2014 season, the good times have returned.
There was a podium finish in Italy last season, but the race at Yas Marina was the first time he had been in the mix for a victory.
The smile, which had often been missing from his face in his latter years at Ferrari, has returned to the paddock.
“I still have a big challenge to race,” he said. “I still have the challenge to be competitive, to work with the team, to improve the car, and I think when you have a team that treat you as important, that makes it a pleasure.”
The move has rejuvenated him, he said.
“It has been like a restart,” he said of joining Williams. “Some things were not going the way in the way I want in my last years at Ferrari.
“I needed a restart. And I feel younger and more motivated with this change.”
Massa carried his encouraging form into 2015, twice finishing on the podium with third-place finishes in Austria and Italy.
He is sixth in the drivers’ standings.
This is his 13th full season in F1, and he has not given up hope of being the first Brazilian to win the world title since Ayrton Senna in 1991.
“For sure, that is the only dream I still have, to win the championship,” he said. “But I also had a dream to have a nice family and I have a fantastic family, a nice son, so I cannot complain about anything.
“I am a very happy man, so even if for whatever reason I cannot win the championship, I can say I have nothing really to regret.”
Massa is passionate about driver safety, particularly after his own scare in 2009.
The topic was brought back into focus this year in July after Jules Bianchi died of the head injuries he suffered in the 2014 Japanese Grand Prix, when he crashed into a recovery vehicle.
Former F1 driver Justin Wilson also died after being struck on the head by debris during an IndyCar race in the United States in August.
Massa says F1 and other single-seater series should consider closed cockpits.
“I don’t think that Jules’s accident would change anything by having a closed cockpit,” he said. “But for sure Justin Wilson, yes, and maybe myself, yes.
“So it is something that I am really in favour of.
“I don’t know if closed is the right decision, but to improve the safety around the head is something that we definitely need to do.”
gcaygill@thenational.ae
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What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Skoda Superb Specs
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2020 Toyota Corolla Hybrid LE
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AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
The five pillars of Islam
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
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.”
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Sholto Byrnes on Myanmar politics
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million