Shane Lowry won the Abu Dhabi HSBC Championship in 2019 on the National Course and is back to compete in the Hero Cup. Getty
Shane Lowry won the Abu Dhabi HSBC Championship in 2019 on the National Course and is back to compete in the Hero Cup. Getty
Shane Lowry won the Abu Dhabi HSBC Championship in 2019 on the National Course and is back to compete in the Hero Cup. Getty
Shane Lowry won the Abu Dhabi HSBC Championship in 2019 on the National Course and is back to compete in the Hero Cup. Getty

Sport

Golf

Shane Lowry hopes to use Hero Cup in Abu Dhabi to gain 'edge' for Ryder Cup

Irishman, a champion in Abu Dhabi in 2019, is part of the Great Britain and Ireland team at inaugural team event

John McAuley
John McAuley

January 12, 2023

  • English
  • Arabic

Shane Lowry plans to use this week’s inaugural Hero Cup in Abu Dhabi to provide a platform to representing Europe at the Ryder Cup – where he says his potential teammates need to complement the “two best players in the world” in Rory McIlroy and Jon Rahm.

Abu Dhabi Golf Club plays host to the recently created competition from Friday to Saturday, where a team from Great Britain and Ireland led by Tommy Fleetwood take on a Europe side with Francesco Molinari at the helm.

The Hero Cup, which effectively replaces the Seve Trophy that ran between 2000 and 2013, will be used primarily to give potential European Ryder Cup players a taste of the format. This week’s event, played on the National Course, is overseen by Luke Donald, the European captain for this year’s Ryder Cup, which takes place in Rome from September 29-October 1.

Lowry, who debuted at the Ryder Cup two years ago when the United States prevailed 19-9 in Wisconsin, competes in the capital for GB and Ireland. The Irishman, a former winner of the Abu Dhabi HSBC Championship, believes it offers a golden opportunity to lay some early groundwork for the Ryder Cup.

“Obviously, I want to be a part of Luke’s team in Rome, and I feel like if this gives me any little bit of an edge in Rome, if I’m there, I need to be playing here,” Lowry was quoted as saying in the Irish Independent.

“The two best players in the world are European players at the minute, I feel, with [world No 5] Jon and [world No 1] Rory. It’s up to us, the rest of the lads, to get our game to a level where we are good enough to win the Ryder Cup at the end of the year.”

  • Francesco Molinari, captain of Continental Europe, and Tommy Fleetwood, captain of Great Britain and Ireland, pose with the trophy prior to the Hero Cup at Abu Dhabi Golf Club on January 11, 2023. Getty Images
    Francesco Molinari, captain of Continental Europe, and Tommy Fleetwood, captain of Great Britain and Ireland, pose with the trophy prior to the Hero Cup at Abu Dhabi Golf Club on January 11, 2023. Getty Images
  • Guido Migliozzi of Italy in action prior to the Hero Cup at Abu Dhabi Golf Club. Getty Images
    Guido Migliozzi of Italy in action prior to the Hero Cup at Abu Dhabi Golf Club. Getty Images
  • Adrian Meronk of Poland poses for a portrait in the Continental Europe locker room. Getty Images
    Adrian Meronk of Poland poses for a portrait in the Continental Europe locker room. Getty Images
  • Ewen Ferguson of Scotland poses for a portrait next to his locker in the Great Britain and Ireland locker room. Getty Images
    Ewen Ferguson of Scotland poses for a portrait next to his locker in the Great Britain and Ireland locker room. Getty Images
  • Richard Mansell of England. Getty Images
    Richard Mansell of England. Getty Images
  • A general view of Hero signage prior to the Hero Cup at Abu Dhabi Golf Club. Getty Images
    A general view of Hero signage prior to the Hero Cup at Abu Dhabi Golf Club. Getty Images
  • A general view of the Great Britain and Ireland captain's buggy. Getty Images
    A general view of the Great Britain and Ireland captain's buggy. Getty Images
  • The Abu Dhabi Golf Club clubhouse. Getty Images
    The Abu Dhabi Golf Club clubhouse. Getty Images
  • A general view of the 18th and 9th holes at Abu Dhabi Golf Club. Getty Images
    A general view of the 18th and 9th holes at Abu Dhabi Golf Club. Getty Images

For the Hero Cup, the two 10-man teams will compete in foursomes, fourballs and singles - all 20 players take part in each session – with five fourball matches kicking off the action on Friday. Two sets of five foursomes matches will be played on Saturday, with the 10 singles on Sunday.

Meanwhile, golf fans in the UAE and across the Mena region will be able to watch live coverage of the DP World Tour and the PGA Tour, and the 2023 Ryder Cup, on “Golf Life”, a new 24/7 channel dedicated to the game. The channel, owned and operated by evision, has acquired exclusive broadcasting rights for the game’s two lead tours for this year and next, and will also show the 2024 Presidents Cup.

At present, “Golf Life” will be available in the sports and premium packages on eLife IPTV, as well as on sports packages on Switch TV. Golf Life will also be distributed across the Mena region through Starzplay.

The%20Little%20Mermaid%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rob%20Marshall%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EHalle%20Bailey%2C%20Jonah%20Hauer-King%2C%20Melissa%20McCarthy%2C%20Javier%20Bardem%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
The specs

Engine: 0.8-litre four cylinder

Power: 70bhp

Torque: 66Nm

Transmission: four-speed manual

Price: $1,075 new in 1967, now valued at $40,000

On sale: Models from 1966 to 1970

The specs: 2018 Renault Megane

Price, base / as tested Dh52,900 / Dh59,200

Engine 1.6L in-line four-cylinder

Transmission Continuously variable transmission

Power 115hp @ 5,500rpm

Torque 156Nm @ 4,000rpm

Fuel economy, combined 6.6L / 100km

KILLING OF QASSEM SULEIMANI
While you're here
The BIO:

He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal

He ascended Mount Everest the next year from the more treacherous north Tibetan side

By 2015, he had completed the Explorers Grand Slam

Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border

He carries dried camel meat, dried dates and a wheat mixture for the final summit push

His new goal is to climb 14 peaks that are more than 8,000 metres above sea level

Russia's Muslim Heartlands

Dominic Rubin, Oxford

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
WHAT%20IS%20THE%20LICENSING%20PROCESS%20FOR%20VARA%3F
%3Cp%3EVara%20will%20cater%20to%20three%20categories%20of%20companies%20in%20Dubai%20(except%20the%20DIFC)%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECategory%20A%3A%3C%2Fstrong%3E%20Minimum%20viable%20product%20(MVP)%20applicants%20that%20are%20currently%20in%20the%20process%20of%20securing%20an%20MVP%20licence%3A%20This%20is%20a%20three-stage%20process%20starting%20with%20%5B1%5D%20a%20provisional%20permit%2C%20graduating%20to%20%5B2%5D%20preparatory%20licence%20and%20concluding%20with%20%5B3%5D%20operational%20licence.%20Applicants%20that%20are%20already%20in%20the%20MVP%20process%20will%20be%20advised%20by%20Vara%20to%20either%20continue%20within%20the%20MVP%20framework%20or%20be%20transitioned%20to%20the%20full%20market%20product%20licensing%20process.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECategory%20B%3A%3C%2Fstrong%3E%20Existing%20legacy%20virtual%20asset%20service%20providers%20prior%20to%20February%207%2C%202023%2C%20which%20are%20required%20to%20come%20under%20Vara%20supervision.%20All%20operating%20service%20proviers%20in%20Dubai%20(excluding%20the%20DIFC)%20fall%20under%20Vara%E2%80%99s%20supervision.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECategory%20C%3A%3C%2Fstrong%3E%20New%20applicants%20seeking%20a%20Vara%20licence%20or%20existing%20applicants%20adding%20new%20activities.%20All%20applicants%20that%20do%20not%20fall%20under%20Category%20A%20or%20B%20can%20begin%20the%20application%20process%20through%20their%20current%20or%20prospective%20commercial%20licensor%20%E2%80%94%20the%20DET%20or%20Free%20Zone%20Authority%20%E2%80%94%20or%20directly%20through%20Vara%20in%20the%20instance%20that%20they%20have%20yet%20to%20determine%20the%20commercial%20operating%20zone%20in%20Dubai.%C2%A0%3C%2Fp%3E%0A
While you're here
THE%C2%A0SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.4-litre%20four-cylinder%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20210hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Starting%20from%20Dh89%2C900%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3C%2Fp%3E%0A
Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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.”

The cost of Covid testing around the world

Egypt

Dh514 for citizens; Dh865 for tourists

Information can be found through VFS Global.

Jordan

Dh212

Centres include the Speciality Hospital, which now offers drive-through testing.

Cambodia

Dh478

Travel tests are managed by the Ministry of Health and National Institute of Public Health.

Zanzibar

AED 295

Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.

Abu Dhabi

Dh85

Abu Dhabi’s Seha has test centres throughout the UAE.

UK

From Dh400

Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Updated: January 12, 2023, 12:08 PM
Golf