Ross Fisher tees off at the second hole on his way to a final-round 65 and victory at the Irish Open yesterday.
Ross Fisher tees off at the second hole on his way to a final-round 65 and victory at the Irish Open yesterday.
Ross Fisher tees off at the second hole on his way to a final-round 65 and victory at the Irish Open yesterday.
Ross Fisher tees off at the second hole on his way to a final-round 65 and victory at the Irish Open yesterday.

Fisher closes in on Ryder Cup spot


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Ross Fisher held his nerve under pressure to win the Irish Open in record-equalling style at Killarney yesterday - despite all that Padraig Harrington threw at him. From three shots behind Harrington might have thought a closing seven-under-par 64 would seal his national title for the second time in four years. But England's Fisher, having lost the six-stroke lead he held in the third round, responded with a 65 to take his fourth European Tour title by two shots.

The 29-year-old's 266 aggregate, 18 under par, matched the tournament record set nine years ago by Colin Montgomerie - and with it Fisher climbs all the way from 13th to sixth in the race for places in Montgomerie's Ryder Cup side. "It just feels great to come out on top against such a world-class field," Fisher said after receiving the trophy and the £415,973 (Dh2.3m) first prize. "I could hear the roars and knew Padraig was making a charge. I just tried to stay patient and this is what we play for - we want to give ourselves a chance and I am no different.

"I don't know if I have done enough [to clinch a Ryder Cup debut] yet, but there are two more big weeks coming up and I just want to show Monty I am playing well." Behind Harrington, Spain's Gonzalo Fernandez-Castano and England's Chris Wood shared third place on a day when there 14 changes at the top of the leaderboard. Wood, Australia's Richard Green and Italy's Francesco Molinari had an early taste of it and with four birdies in his first seven Harrington joined the fun.

But Fisher, round in a course-record 61 on Friday, sank an 18-foot eagle putt at the seventh, holed from similar range on the ninth and then started for home with an eight iron to four feet. Three days after Robert Rock was disqualified from the event for a scorecard blunder, Marc Warren followed in the Englishman's footsteps yesterday. As with Rock - the joint leader at the time - Warren did not see that playing partner Mark Foster had put him down for a birdie three at the 13th and a par four on the next instead of the other way round.

At least the former World Cup winner was not on the leaderboard at the time. He had scored a closing 70 for two under and was not in the top 30, but it still cost him nearly £20,000. Elswehere, Siddikur Rahman became the first Bangladeshi golfer to win on the Asian Tour after the 25-year-old edged out Jbe Kruger in a play-off to win the Brunei Open at the Empire Hotel and Country Club. Starting the day tied for the lead with Ben Leong, Siddikur carded a four-under-par 67 to finish 16-under. However, a bogey at the last when he missed a 15-foot putt proved costly as Kruger went one better with a 66 to force the play-off.

But there was no repeat as the man from Dhaka parred the 18th, the first extra hole, to take the title after Kruger missed his putt from 10 feet. "It is very exciting. I'm the first Bangladeshi to play on the Asian Tour and in the two years that I'm on Tour, I have won a tournament. It is unbelievable," said Siddikur. "I didn't expect to win. Thankfully, everything in my game clicked and I was able to win. I hope to inspire more people to take up the game of golf in Bangladesh. This is a good victory for me and my country."

Siddikur grew up in humble surroundings and worked as a ball boy in a Dhaka golf club to pay for his school fees. He learned the game by fashioning his first golf club with a seven iron head on a piece of metal rod. * Agencies

TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

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.”

WISH
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The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Twin%20electric%20motors%20and%20105kWh%20battery%20pack%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E619hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E1%2C015Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20auto%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3EUp%20to%20561km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3EQ3%20or%20Q4%202022%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh635%2C000%3C%2Fp%3E%0A
The specs: 2018 Genesis G70

Price, base / as tested: Dh155,000 / Dh205,000

Engine: 3.3-litre, turbocharged V6

Gearbox: Eight-speed automatic

Power: 370hp @ 6,000rpm

Torque: 510Nm @ 1,300rpm

Fuel economy, combined: 10.6L / 100km

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