Australia’s Jason Day withstood the determined challenge of France’s Victor Dubuisson on Sunday to win the World Golf Championships Match Play crown with a birdie at the 23rd hole of the final.
Dubuisson had erased a three-hole deficit to extend the title match scheduled for 18 holes, and kept it going with two miraculous shots out of the desert cactus before Day finally sealed the win.
Day, 26, never trailed in the match after taking the lead with a birdie at the opening hole. But that fact hardly reflected the drama of the latter stages, when Dubuisson birdied the 17th and got up and down for par from a bunker at 18 to square the match as Day bogeyed 18.
The 23-year-old from Cannes, who won his first European Tour title at the Turkish Open in November, was in serious trouble at the 19th hole, where his approach shot bounced into the desert scrub and nestled in a clump of cactus.
He stepped up and took an unceremonious swing at it, sticking it six feet from the pin and making the putt to stay alive.
He hacked out of the scrub again at the 20th hole en route to a par that matched Day’s.
At the 23rd, Dove Mountain’s drivable par-four 15th, Dubuisson ran out of steam.
His drive bounced into thick rough and his chip out ran almost 30 feet past the pin.
Day was in the first cut of rough and chipped out to three feet.
Dubuisson’s long birdie attempt was short and his par conceded before Day rolled in his winning putt -- it was the first hole Day had won since the ninth.
“Long day in the sun I guess,” a weary Day said. “Obviously, I didn’t want it to go this long, but Vic, man he’s got a lot of guts and a great short game.
“Pars straight out of the cactus twice. You’re going to see a lot of him for years to come.”
Day captured his second US PGA Tour title and his first in an elite World Golf Championships event. This week’s $9 million tournament started with 64 players Wednesday and as the last man standing, Day collected $1.53 million.
Dubuisson earned $906,000 for his runner-up finish in his first WGC event.
“I think the biggest thing was how much did I want to win,” Day said. “I was visualizing myself with the trophy last night. I’m just glad I could finish it off, but it was a close one.”
In the consolation match, Rickie Fowler needed 19 holes to beat four-time major champion Ernie Els and claim third place.
The long day in the Arizona desert started with the semi-finals, in which Dubuisson defeated his onetime idol Els 1 up and Day downed Fowler 3 and 2.
Day got off to a fast start, winning the first two holes. But Dubuisson won the next two.
Day came back with wins at six and seven, then Dubuisson conceded the ninth after hitting his second shot into the desert.
At the par-five 13th, Dubuisson got up and down for birdie to move within 2-down. They halved the next three holes.
At 17, Dubuisson found sand off the tee, but put his approach within 15 feet. After Day missed from 20 feet, the Frenchman rolled in his birdie putt.
Day was on the green with his approach at 18, but further from the pin than Dubuisson, who was in a bunker.
After Day blasted his birdie attempt past the hole and Dubuisson fired out of the sand to four feet.
Day left his par attempt short, and Dubuisson made his to force the extra holes.
After his improbable par from the cactus patch to halve the 19th, Dubuisson did it again at the 20th.
His chip from under a dried branch left him about a six-footer -- and prompted Day to shake his head and laugh in disbelief.
Dubuisson admitted he was disappointed to see his heroics come to naught.
“I made some terrific shots, but I missed some shots at the end in the playoff,” he said.
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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
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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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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
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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.
Global state-owned investor ranking by size
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United States
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Company: Rent Your Wardrobe
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Date started: October 2021
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Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
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The Sand Castle
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