Peter Hanson won the Czech Open with an 18-foot play-off putt, placing him in the running for the Ryder Cup team.
Peter Hanson won the Czech Open with an 18-foot play-off putt, placing him in the running for the Ryder Cup team.

Ryder Cup race thrown open



Peter Hanson leapt from 15th to eighth in Europe's Ryder Cup race after winning a dramatic and nerve-wracking Czech Open with an 18-foot play-off putt yesterday. And a consequence of the Swede's success means that Paul Casey, Padraig Harrington, Luke Donald and Justin Rose cannot all play at Celtic Manor in October.

Colin Montgomerie, the team captain, will have to leave one of them out when he names his three wild-cards next Sunday. Hanson, who was not even in the penultimate event of the year-long race until he received an invitation last Monday, looked like he would blow a four-stroke lead as the pressure mounted on the final day in Celadna. But the 32-year-old birdied the long 16th, then parred the last two to tie with Peter Lawrie, the Irishman, and England's Gary Boyd at the 10-under-par mark of 278.

They had shot 66 and 68 to his error-ridden 74, but after all parred the first extra hole Hanson took his chance on the next after the other two had both missed their birdie attempts. "To make that putt feels fantastic," he said after taking his European Tour play-off record to three wins out of three. "And to know I had to come here and win [to climb into the top nine on the points table] and pull it off feels great. There's another week to go, but it looks so much better now."

Controversially, Casey, Harrington, Donald and Rose have all elected to stay in the United States next week for the start of the money-spinning FedEx Cup play-off series rather than travel to Gleneagles for the Johnnie Walker Championship, where they could play themselves into automatic selection and ease Montgomerie's headache. Now at least one of them will pay the price, a situation made more complicated because Edoardo Molinari, the Italian who is a World Cup-winner with his brother Francesco, needs a wild-card as well.

Hanson would have settled for climbing to ninth, but he goes to eighth because Spain's Miguel Angel Jimenez managed only a closing 73 on the Prosper course that he designed. That dropped him from an overnight second-place tie into a tie for seventh and it could cost him . The 46-year-old does not plan to go to Scotland either, preferring to attend a nephew's wedding, and he could be knocked out of the team by Ross McGowan, Simon Dyson or Alvaro Quiros.

Dyson would have gone into the top nine by winning yesterday, but a 72 saw him slip from joint second to fifth. He, like Quiros, will have to win next Sunday to make the team, while McGowan, joint 25th today, needs a top-two finish. * Press Association

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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
T20 WORLD CUP QUALIFIER

Results

UAE beat Nigeria by five wickets

Hong Kong beat Canada by 32 runs

Friday fixtures

10am, Tolerance Oval, Abu Dhabi – Ireland v Jersey

7.30pm, Zayed Cricket Stadium, Abu Dhabi – Canada v Oman

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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 is Allegra Stratton?

 

  • Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
  • Took up a public relations role for Chancellor Rishi Sunak in April 2020
  • In October 2020 she was hired to lead No 10’s planned daily televised press briefings
  • The idea was later scrapped and she was appointed spokeswoman for Cop26
  • Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
  • She has strong connections to the Conservative establishment
  • Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

Volvo ES90 Specs

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Price: Exact regional pricing TBA

The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
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VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC