From left to right, Justin Rose, Sergio Garcia and Darren Clark walk down on of the fairways of the "Golden Mile" finish to the new Earth Course at Jumeirah Golf Estates.
From left to right, Justin Rose, Sergio Garcia and Darren Clark walk down on of the fairways of the "Golden Mile" finish to the new Earth Course at Jumeirah Golf Estates.

Golf

Breaking the Earth

Professional golfers were left impressed after the spectacular unveiling of the new Earth Course at the Jumeirah Golf Estates.

William Johnson

27 January, 2009

DUBAI // The new Earth Course, which will host the world's richest golf tournament in November received a spectacular unveiling when five of the world's leading professionals played what is already being dubbed the Golden Mile. The last four holes on the Greg Norman-designed course at Jumeirah Golf Estates measure almost exactly a mile and Norman, a former world No 1, has set it up to be one of the most demanding finishes on the calendar.

As David Spencer, chief executive of the golf arm of Leisurecorp, the US$100million (Dh368m) sponsors of the Race To Dubai, the rebranded Order of Merit, put it as he stood on the 18th tee: "Somebody at the end of this year is likely to have a putt on that green in the far distance that will be worth $3.67m." That will be the case if the inaugural winner of the Dubai World Championship which carries a first prize of $2m also wins the Race to Dubai which would be worth a further $1.67m.

Yesterday the World Championship organisers invited a cluster of big names to have a preview of the new course. In one team of three were Sergio Garcia, the world No 2 and the top ranked player in action at the moment in the absence of Tiger Woods, Justin Rose, who won the Order of Merit in 2007, and the Northern Irish Ryder Cup player Darren Clarke. They were up against Robert Karlsson, the 2008 Order of Merit champion, Martin Kaymer, winner of last year's Abu Dhabi Championship and runner-up there two weeks ago, and Khalid Yousef , the Emriati teenager who has received a sponsor's invitation to play in this weekend's Dubai Desert Classic for the second time.

A birdie two by Karlsson on the 191-yard 17th hole, which is based on the famous Island Green at Sawgrass in Florida, tipped the balance in a tight match which was watched by a gallery of about 100 guests, including George O'Grady, chief executive of the European Tour, and Keith Waters, the Tour's international director. O'Grady said: "This is really exciting to be able to see what is the vision for our tour's showpiece event. These are the kind of conditions that we wish we could play on all the time."

Garcia said:"We only got to play four holes but what I saw out there looked great. "There are a lot of possibilities for pin positions because the greens are so big. There are lots of different ways that they can set up the course, so I'm looking forward to playing it for real." The Spaniard, who is leading the Race to Dubai, is, barring injury, likely to be among the 60 qualifiers for the Dubai World Championship.

The other four professionals will also fancy their chances of competing for that record purse. As for Yousef, a scratch amateur golfer, he hopes his time will come one day. He said: "I would love to be back here as one of the qualifiers. "I have to believe in myself that I am capable of rising to the level I saw out there. "It was a great experience for me. These top players made me feel so welcome and they have certainly helped to calm my nerves before the Desert Classic."

wjohnson@thenational.ae

SHAITTAN

Director: Vikas Bahl
Starring: Ajay Devgn, R. Madhavan, Jyothika, Janaki Bodiwala
Rating: 3/5

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

SPECS

Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

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.” 

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

The specs

BMW M8 Competition Coupe

Engine 4.4-litre twin-turbo V8

Power 625hp at 6,000rpm

Torque 750Nm from 1,800-5,800rpm

Gearbox Eight-speed paddleshift auto

Acceleration 0-100kph in 3.2 sec

Top speed 305kph

Fuel economy, combined 10.6L / 100km

Price from Dh700,000 (estimate)

On sale Jan/Feb 2020
 

What is cystic fibrosis?
  • Cystic fibrosis is a genetic disorder that affects the lungs, pancreas and other organs.
  • It causes the production of thick, sticky mucus that can clog the airways and lead to severe respiratory and digestive problems.
  • Patients with the condition are prone to lung infections and often suffer from chronic coughing, wheezing and shortness of breath.
  • Life expectancy for sufferers of cystic fibrosis is now around 50 years.
Key Points
  • Protests against President Omar Al Bashir enter their sixth day
  • Reports of President Bashir's resignation and arrests of senior government officials
COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

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High fever (40°C/104°F)
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Rash

SPECS: Polestar 3

Engine: Long-range dual motor with 400V battery
Power: 360kW / 483bhp
Torque: 840Nm
Transmission: Single-speed automatic
Max touring range: 628km
0-100km/h: 4.7sec
Top speed: 210kph
Price: From Dh360,000
On sale: September

Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

Scoreline

Real Madrid 1
Ronaldo (53')

Atletico Madrid 1
Griezmann (57')

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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