Donald Trump purchased Turnberry in 2014 but it has not hosted the British Open since 2009. Getty.
Donald Trump purchased Turnberry in 2014 but it has not hosted the British Open since 2009. Getty.
Donald Trump purchased Turnberry in 2014 but it has not hosted the British Open since 2009. Getty.
Donald Trump purchased Turnberry in 2014 but it has not hosted the British Open since 2009. Getty.

No British Open at Trump's Turnberry for 'foreseeable future'


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The British Open golf championship will not be staged at the Turnberry course in Scotland owned by US President Donald Trump for the "foreseeable future", tournament organisers announced Monday.

The move follows the decision by American golf authorities to strip Trump's Bedminster course in New Jersey of the right to host the 2022 US PGA Championship.

Last week Trump supporters attacked the US Capitol building in an incident that left five people dead as they attempted to disrupt Congress from approving the result of November's US presidential election won by Joe Biden.

A statement issued by the R&A (Royal and Ancient), which runs the British Open - the only one of golf's four majors played outside the US - said taking the championship back to Turnberry would distract from events on the course.

"The R&A had no plans to stage any of our championships at Turnberry and will not do so in the foreseeable future," said chief executive Martin Slumbers.

"We will not return until we are convinced that the focus will be on the championship, the players and the course itself and we do not believe that is achievable in the current circumstances."

The British Open switches venues every year with Turnberry one of 10 courses on the current rotation.

However, the championship has not been played at Turnberry since 2009, five years before the Trump Organisation purchased the course and renamed it "Trump Turnberry".

Situated in Ayrshire, southwest Scotland, Turnberry has played hosts to several notable moments in British Open history, including the 1977 'Duel in the Sun' when America's Tom Watson overcame compatriot Jack Nicklaus, golf's most successful major champion and a Trump supporter, in a dramatic final round.

Turnberry was also the venue where Stewart Cink thwarted the then 59-year-old Watson's bid to become golf's oldest male major championship winner when he won the 2009 British Open in a play-off.

Trump's repeated false claims of election fraud, and his incendiary address to protesters prior to the attack on the Capitol have prompted critics to call for his resignation, his impeachment, or his removal from office as unfit under the Constitution's 25th amendment.

The 74-year-old's divisive rhetoric had long posed a problem for a game he has been identified with.

Golf greats Gary Player and Annika Sorenstam came in for criticism when they accepted the Presidential Medal of Freedom from Trump on Thursday - a day after the chaos in Washington.

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The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

Results

5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m; Winner: Reem Baynounah, Fernando Jara (jockey), Mohamed Daggash (trainer)

5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m; Winner: AF Afham, Tadhg O’Shea, Ernst Oertel

6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Ghallieah, Sebastien Martino, Jean-Claude Pecout

6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m; Winner: Yas Xmnsor, Saif Al Balushi, Khalifa Al Neyadi

7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m; Winner: Somoud, Adrie de Vries, Jean de Roualle

7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m; Winner: Haqeeqy, Dane O’Neill, John Hyde.

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

The Baghdad Clock

Shahad Al Rawi, Oneworld

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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.”