If you are an Englishman, the latest publication of the world golf rankings makes for pleasant reading.
Luke Donald's victory in the Madrid Masters last weekend, a week after he had been within a stroke of winning the more prestigious European PGA Championship, propelled him into the top 10 where three of his compatriots were already featured.
That means England now have as many representatives in that elite band as the United States, although the four Americans - Tiger Woods, Phil Mickelson, Steve Stricker and Jim Furyk - are all peering down on lesser mortals from the top five.
Such a healthy English situation looked a million miles away at the start of the new millennium when the powers of Nick Faldo, the winner of six majors, were on the wane and there was no obvious contender to take over the task of flying the flag of St George.
There has been no English winner of one of golf's big four events since Faldo completed his haul at the 1996 Masters. But with Lee Westwood, Ian Poulter, Paul Casey and Donald all flying so high, there should be one before much longer.
While Westwood and Poulter have been knocking on the door of a major championship in recent years, England's drought may well be ended by one of their less heralded personalities. Brian Davis has chosen to try the US PGA Tour and twice in the last few weeks he has been within a whisker of claiming his first victory there.
Davis earned many new admirers by doing what comes naturally to golfers - calling a foul on himself to deny him the chance of a play-off victory over Furyk in the Heritage Classic in April. He looked the likely winner for much of last weekend's Colonial Tournament in Texas until Zach Johnson edged him out.
Those two near misses have seen Davis make rapid progress up the rankings ladder to 72nd and on current form he is set to go higher, to the point where Colin Montgomerie, Europe's Ryder Cup captain, will be taking note.
Montgomerie, who has three wildcard selections at his disposal starts a four-day reconnaissance mission this morning when a cluster of his likely Ryder Cup line-up report for preliminary duty at the Celtic Manor venue to contest the Wales Open.
Events of the past few weeks will have affected Montgomerie's planning for the eagerly-anticipated attempt to wrest golf's premier match play trophy from the Americans in early October.
Donald's return to winning form and the recent steadiness of Italy's Francesco Molinari have been principal factors in pushing Casey and Ireland's Padraig Harrington out of the list of nine automatic qualifiers.
Casey, granted a wildcard by Faldo, the captain of the losing 2008 team, would probably get another call-up from Montgomerie on the strength of his high world rating and the fact that he plays mainly in the US where it is harder to accumulate qualifying points.
Whether the captain would be equally supportive of Harrington is more open to debate. The Irishman looked to have the game at his mercy when he picked up three majors in 2007/08, but he now appears to be going backwards. Three missed cuts so far in what has been a curtailed 2010 campaign hardly enhance his claim for a wildcard.
It would have been good to see Harrington on the tee at Celtic Manor today having a pre-Ryder Cup look-around. Like Westwood and Poulter he has opted to take the week off to have his batteries fully charged for the US Open at Pebble Beach in two weeks' time.
Let us hope Harrington swiftly plays his way back into the kind of form which re-establishes him as a formality to take on the Americans and in doing so spares his old adversary Montgomerie what could be a tricky decision.
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The last time Tiger Woods appeared at Muirfield Village he put on a golfing masterclass to win the Memorial Tournament for the fourth time. Today, merely getting round the demanding Jack Nicklaus course is the objective for the troubled world No 1.
Woods has toiled along his rehabilitation road after coming out of his self-imposed exile from the game with a respectable tied fourth place in the Masters at Augusta in April.
Fuelled by adrenaline during that emotional return after his domestic crisis, the game's most famous personality has gone into relapse since, missing the cut in his second comeback event and failing to finish because of injury in his third.
His fourth tournament since his lay-off will be on terrain that has been kind to him - as will the fifth at Pebble Beach when he seeks to repeat his US Open success of a decade ago. Another of his favourite courses, St Andrewslies in wait for him in July.
Woods has faced a multitude of problems since hobbling off Torrey Pines an exhausted winner of his 14th and last major two years ago. Rarely has he needed a boost so badly. A 72nd PGA Tour success and the 98th title of his professional career cannot come soon enough.
@Email:wjohnson@thenational.ae
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COMPANY%20PROFILE
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The specs: Hyundai Ionic Hybrid
Price, base: Dh117,000 (estimate)
Engine: 1.6L four-cylinder, with 1.56kWh battery
Transmission: Six-speed automatic
Power: 105hp (engine), plus 43.5hp (battery)
Torque: 147Nm (engine), plus 170Nm (battery)
Fuel economy, combined: 3.4L / 100km
RESULTS
6pm: Mazrat Al Ruwayah – Group 2 (PA) $40,000 (Dirt) 1,600m
Winner: AF Alajaj, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
6.35pm: Race of Future – Handicap (TB) $80,000 (Turf) 2,410m
Winner: Global Storm, William Buick, Charlie Appleby
7.10pm: UAE 2000 Guineas – Group 3 (TB) $150,000 (D) 1,600m
Winner: Azure Coast, Antonio Fresu, Pavel Vashchenko
7.45pm: Business Bay Challenge – Listed (TB) $100,000 (T) 1,400m
Winner: Storm Damage, Patrick Cosgrave, Saeed bin Suroor
20.20pm: Curlin Stakes – Listed (TB) $100,000 (D) 2,000m
Winner: Appreciated, Fernando Jara, Doug O’Neill
8.55pm: Singspiel Stakes – Group 2 (TB) $180,000 (T) 1,800m
Winner: Lord Glitters, Daniel Tudhope, David O'Meara
9.30pm: Al Shindagha Sprint – Group 3 (TB) $150,000 (D) 1,200m
Winner: Meraas, Antonio Fresu, Musabah Al Muhairi
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
'Shakuntala Devi'
Starring: Vidya Balan, Sanya Malhotra
Director: Anu Menon
Rating: Three out of five stars
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.”
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
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Huroob Ezterari
Director: Ahmed Moussa
Starring: Ahmed El Sakka, Amir Karara, Ghada Adel and Moustafa Mohammed
Three stars