Ernie Els hopes that he can have some success in the Singapore Open on Nov 12 2008.
Ernie Els hopes that he can have some success in the Singapore Open on Nov 12 2008.
Ernie Els hopes that he can have some success in the Singapore Open on Nov 12 2008.
Ernie Els hopes that he can have some success in the Singapore Open on Nov 12 2008.

Els seeks a change of fortune in Singapore


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SINGAPORE // South Africa's Ernie Els will be hoping to shake off the disappointment of contrasting failures he suffered in the previous two years when he takes a third tilt at the Singapore Open. The world number 11 enjoyed a morale-boosting victory in Morocco last week and the 39-year-old will want to carry that form forward to the demanding Serapong Course layout hosting the $5 million (Dh18.4 m) event, the richest national open on the Asia Tour. He will be teeing off against the best golfers in Asia and a host of international players including Phil Mickelson, Adam Scott, Padraig Harrington and KJ Choi. Els will be considered one of the favourites for the $792,500 first prize. In 2006, Els lost out to the Australian Scott in a playoff but failed to make the cut at last year's tournament, won by Argentina's Angel Cabrera, after suffering from illness during the opening two rounds. "I've experienced mixed fortunes the last two years," Els said on his official website. "I like this tournament and I like the course at Sentosa Golf Club, so I'm looking forward to teeing it up here again. I've played quite a few tournaments in Asia and believe me, this is the best. "This whole package and a significant prize fund is what helps attract the quality star players from around the world. I'm happy to be here and I know all these guys are, too." Scott's 2006 victory was his second in succession and the 28-year-old from Adelaide arrives in South East Asia seeking to become the first player to record a hat-trick of Singapore Open titles. "It's been a happy hunting ground for me here," Scott said."Whenever you come back to a place where you've played well, you get good vibes. I'm certainly looking to turn my game around a little bit and it's good to have the positive feelings. "The first year, I really felt like the course fits my eye well. I hit a lot of good shots then and it was a really tough set-up. "Ever since, I've always felt confident coming here. Whenever you win a tournament, not only do you get the good feelings, you have the pride to want to play well. My goal is to win this week." Meanwhile, Ian Poulter has pulled out of the Singapore Open after being unable to replace the driver he had stolen at the HSBC Champions tournament in Shanghai. "I am really gutted," he said. "I have been thinking about it for four hours and I have decided to withdraw because my new driver will not arrive on time. "It is disappointing because I did not come all this way not to play. But with so many world ranking points at stake, if I played badly (by using a different driver) I may have lost ground." India's Anirban Lahiri will take the Englishman's place in the field. *Reuters

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War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

TO%20CATCH%20A%20KILLER
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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.”

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Results

6pm: Dubai Trophy – Conditions (TB) $100,000 (Turf) 1,200m 

Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer) 

6.35pm: Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m 

Winner: Island Falcon, Frankie Dettori, Saeed bin Suroor 

7.10pm: UAE 2000 Guineas Trial – Conditions (TB) $60,000 (Dirt)
1,400m 

Winner: Rawy, Mickael Barzalona, Salem bin Ghadayer 

7.45pm: Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m 

Winner: Desert Fire, Hector Crouch, Saeed bin Suroor 

8.20pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m 

Winner: Naval Crown, William Buick, Charlie Appleby 

8.55pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m 

Winner: Al Tariq, Pat Dobbs, Doug Watsons 

9.30pm: Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m 

Winner: Dubai Icon, Patrick Cosgrave, Saeed bin Suroor  

NATIONAL%20SELECTIONS
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Mobile phone packages comparison
How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less