Paul Casey of England figures twice among the four winners of the Abu Dhabi Golf Championship in the capital.
Paul Casey of England figures twice among the four winners of the Abu Dhabi Golf Championship in the capital.

Casey is keen to catch up



ABU DHABI // Paul Casey's affinity with the UAE is as strong as any of the world's top golfers and the Englishman has set himself a dual Emirati objective as he prepares to return from a two-month absence with a rib injury. By the time Casey arrives in Abu Dhabi in January to launch his defence of the title he won for the second time on the National course at the start of this year, he wants to go into golfing folklore as the inaugural winner of the Race to Dubai which concludes with the exciting US$7.5million (Dh27.5m) Dubai World Championship from November 19 to 22.

Casey is frustrated at losing his leadership in what was formerly the European Tour's order of merit to Germany's Martin Kaymer, the man who captured the Abu Dhabi title in 2008 in between Casey's two victorious years. Despite not picking up any prize money since the British Open in July, Casey, with total earnings of ?1,965,150 (Dh10.53m) is only ?27,000 behind Kaymer. A winner of three titles during this truncated year and 11 during his career, Casey is confident of overturning that small deficit before entering the fray for the $1.5m first prize on Greg Norman's Earth Course at Jumeirah Golf Estates.

Casey, ranked four in the world, was speaking on a televised link between London and Abu Dhabi Golf Club to publicise the launch of the fifth event in the next season, to be staged there from January 21 to 24. He made no attempt to disguise his frustration at missing so much action at such an important stage. "I wanted to return this week at the Dunhill Links [in Scotland] but I have been advised not to," said Casey. "So my intended comeback will now be in the World Matchplay championship in Spain at the end of October.

"That is bittersweet for me. It's good that I shall finally be able to play again in a tournament which I have previously won but bad because my comeback plan clashes with the Abu Dhabi Grand Prix. "I have so many good friends in Abu Dhabi through my sponsors Aldar and really wanted to be there for the big day. But the golf has to take priority at the moment. "I can't afford to lose any more time by taking a tournament off my schedule."

Casey admitted that his form is bound to suffer from his lack of recent activity but maintained that his confidence has been unaffected. "All of this has made me very hungry for the golf that I have got coming up," he said. "It has knocked me back a little, but only physically, and I am going to come out of this as a keener, more determined, more focused golfer. I've got to take the positives out of this and that's what I am doing at the moment."

Winning in Abu Dhabi was a pivotal moment for Casey after a barren spell of two years. That spurred him to fulfil an elusive career ambition of winning a title on the US PGA Tour - the Shell Houston Open - before capturing the European Tour's flagship event, the BMW PGA Championship. "The Abu Dhabi event is so strong, it really takes some tremendous golf to win there," he declared. "Better golf maybe than in the other victories I have had."

Featuring twice on the honours board of four names - Kaymer and the American Chris DiMarco are the other former champions - has made Casey a willing ambassador for the Middle East with his colleagues on both of the world's major tours. "Promoting Abu Dhabi is a very easy job," he said. "It promotes itself. You look at the wonderful pictures on TV. It is very easy for people to get excited about what they see. I have been asked by many players and it is just a case of speaking the truth and telling them what I know.

"The way the players get looked after at the Emirates Palace Hotel is truly spectacular and something that I always encourage the guys to come over and see. "I always advise my fellow players just to try it once and then pass on their opinion. You then speak to them soon after and they tell you that they have nothing but wonderful things to say. It is nice to be part of promoting a country that I enjoy so much."

wjohnson@thenational.ae

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

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Formula Middle East Calendar (Formula Regional and Formula 4)
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  • November 2021: First 17 volumes launched 
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  • November 2024: All 127 volumes completed
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Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

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More than 2.2 million Indian tourists arrived in UAE in 2023
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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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The users of Reddit

Robinhood

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Short squeeze

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Fight card

1. Bantamweight: Victor Nunes (BRA) v Siyovush Gulmamadov (TJK)

2. Featherweight: Hussein Salim (IRQ) v Shakhriyor Juraev (UZB)

3. Catchweight 80kg: Rashed Dawood (UAE) v Khamza Yamadaev (RUS)

4. Lightweight: Ho Taek-oh (KOR) v Ronald Girones (CUB)

5. Lightweight: Arthur Zaynukov (RUS) v Damien Lapilus (FRA)

6. Bantamweight: Vinicius de Oliveira (BRA) v Furkatbek Yokubov (RUS)

7. Featherweight: Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)

8. Flyweight: Shannon Ross (TUR) v Donovon Freelow (USA)

9. Lightweight: Mohammad Yahya (UAE) v Dan Collins (GBR)

10. Catchweight 73kg: Islam Mamedov (RUS) v Martun Mezhulmyan (ARM)

11. Bantamweight World title: Jaures Dea (CAM) v Xavier Alaoui (MAR)

12. Flyweight World title: Manon Fiorot (FRA) v Gabriela Campo (ARG)

Super Rugby play-offs

Quarter-finals

  • Hurricanes 35, ACT 16
  • Crusaders 17, Highlanders 0
  • Lions 23, Sharks 21
  • Chiefs 17, Stormers 11

Semi-finals

Saturday, July 29

  • Crusaders v Chiefs, 12.35pm (UAE)
  • Lions v Hurricanes, 4.30pm
UAE currency: the story behind the money in your pockets
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

Votes

Total votes: 1.8 million

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Business Insights
  • Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
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  • US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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