Players competing in the upcoming LIV Golf events in Bangkok and Jeddah will not earn world-ranking points despite a new partnership between the Saudi-backed circuit and the Mena Tour.
The Mena Tour announced a strategic alliance with LIV Golf on Wednesday, which looked set to result in the breakaway series earning world-ranking points.
The tour confirmed the Saudi Arabia-backed series would become part of, and sanctioned by, the Dubai-based circuit. Launched in 2011, the Mena Tour has been recognised by the Official World Golf Rankings since 2016.
But on Thursday, the OWGR said that it had not received enough notice to carry out a review before the LIV Golf invitational events in Bangkok, Thailand, from October 7-9, and Jeddah, Saudi Arabia, from October 14-16, tee off.
The OWGR confirmed that it is currently reviewing the changes to the Mena Tour.
The body said in a statement on Thursday: "Notice of these changes given by the Mena Tour is insufficient to allow OWGR to conduct the customary necessary review ahead of the LIV Golf Invitational Bangkok and the LIV Golf Invitational Jeddah.
"Only when the review is complete will a decision be made on awarding points to the Mena Tour's new 'Limited Field Tournaments', defined by the Mena Tour in its Regulations as 'any Mena Tour-approved tournament, which comprises of a player field of less than 80 players'.
"Regular official Mena Tour events conducted over 54 or 72 holes with a cut after 36 holes, and its Tour Championship, typically constructed over 54 holes with no cut, remain eligible for inclusion in the OWGR."
LIV Golf, which staged its first event in June, has to date not been given ranking points.
The Mena Tour, which like LIV Golf comprises 54-hole events, had said prior to the OWGR's response that this week's Bangkok Invitational would be the first event on the series to earn world-ranking points.
In statement released late on Wednesday, Atul Khosla, the President and Chief Operating Officer of LIV Golf, said: “We are taking this mutually beneficial action to support the game at the developmental level and because of the importance and fairness of LIV golfers qualifying for OWGR points.
“We’re pleased to create pathways that give more opportunities for young players, while also giving fans rankings that include all the world’s best golfers.”
The Mena Tour, which returned earlier this year following a two-year hiatus because of the Covid-19 pandemic, holds events primarily across the Middle East, North Africa and Asia. It provides a pathway for players into the Asian Tour and Asian Development Tour.
LIV Golf Thailand forms the opening event of the 2022/23 Mena Tour season.
The Mena Tour had said on Wednesday that the final field for the Bangkok Invitational would be submitted to the OWGR ahead of play starting on Friday, when the final field rating and winners’ points were expected to be confirmed.
It added that, “as a result of the alliance, all LIV Golf players have joined the Mena Tour”.
World ranking points carry significant weight in gaining entry into golf's four majors. Last month, the 48 players who contested the LIV Golf event outside Chicago sent a joint letter to OWGR chairman Peter Dawson urging him to award ranking points to the series.
The Thailand event, which tees off on Friday, represents the sixth LIV Golf tournament since its launch, and will feature reigning Open champion Cameron Smith and former world No 1, and two-time major champion, Dustin Johnson.
Other simple ideas for sushi rice dishes
Cheat’s nigiri
This is easier to make than sushi rolls. With damp hands, form the cooled rice into small tablet shapes. Place slices of fresh, raw salmon, mackerel or trout (or smoked salmon) lightly touched with wasabi, then press, wasabi side-down, onto the rice. Serve with soy sauce and pickled ginger.
Easy omurice
This fusion dish combines Asian fried rice with a western omelette. To make, fry cooked and cooled sushi rice with chopped vegetables such as carrot and onion and lashings of sweet-tangy ketchup, then wrap in a soft egg omelette.
Deconstructed sushi salad platter
This makes a great, fuss-free sharing meal. Arrange sushi rice on a platter or board, then fill the space with all your favourite sushi ingredients (edamame beans, cooked prawns or tuna, tempura veggies, pickled ginger and chilli tofu), with a dressing or dipping sauce on the side.
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Match info:
Real Betis v Sevilla, 10.45pm (UAE)
Pakistan squad
Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi
How to help
Call the hotline on 0502955999 or send "thenational" to the following numbers:
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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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BMW M5 specs
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Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
Mohammed bin Zayed Majlis
