Tiger Woods is in fine form at Hazeltine.
Tiger Woods is in fine form at Hazeltine.

Woods takes command at Hazeltine



Challengers queued up to test the resolve of Tiger Woods during the course of a fluctuating second day of the US PGA Championship. Each time somebody looked like getting an edge over the world No 1, he faltered as the great man went into overdrive to claim a commanding four-stroke lead at the halfway stage. For much of a testing second day at Hazeltine it looked as though any of a cluster of players could overhaul Woods going into yesterday's third round. Major champions Vijay Singh and Lucas Glover set testing morning targets at three under par for 36 holes before usual subjects like Padraig Harrington and Lee Westwood started asking questions in the afternoon. Also in the mix heading for home on Friday afternoon were the long-hitting Spaniard Alvaro Quiros, Ireland's Graeme McDowell and England's Ross Fisher, who proved that his recent good showing at the British Open was no flash in the pan. Nobody was able to sustain an attack on Woods, however, and three birdies in succession from the 14th turned an exciting battle into a virtual procession. But for a sloppy bogey at the last, the lead would have been stretched to a prohibitive five strokes. Even at four ahead Woods looked to have a 15th major title in his grasp as he chased Jack Nicklaus's record of 18. Few golfers in history have a better record at defending advantages than him as illustrated by his winning of all eight majors in which he had held the halfway lead. As far as Harrington - who continued his personal duel with Woods from their thrilling battle at the Bridgetstone Invitational a week earlier, was concerned - he was up with Woods one minute and almost out of sight the next as the Irishman's hopes of capturing back-to-back PGAs to go with his double British Open success mreceded badly. Westwood, who was found wanting at the moment of reckoning at Turnberry last month when a missed putt at the 72nd hole cost him a play-off place against Stewart Cink and Tom Watson, was culpable again with the putter. After playing splendidly to get within touching distance of Woods, he took three shots from three feet on the 17th to lose valuable ground. Fisher, who coped admirably with the distraction of his wife about to give birth in the middle of his Turnberry heroics, played even more solidly than Westwood to get to six under par alongside Tiger. Three bogeys on the homeward stretch, however, left him one of five players sharing second place. The young Englishman saw no sense in chiding himself, though. "In some ways I'm disappointed, but overall delighted," he said after posting a 68 to share the best round of the day with South Africans Ernie Els and Tim Clark. "I felt like I hit the ball fantastically well today. "At the same time, to finish bogey, bogey always leaves a little bit of a sour taste. But I'm still in there with a good shout with 36 holes to go." Woods warned that much can change over those 36 holes but a third successive victory and a sixth of the year beckons. "In order to have a lead in a major championship, you can't be playing poorly," said Woods after his two-under par-round of 70. "All those times I've led in previous majors I've been playing well and I'm playing well now. There's a long way to go. I'll just keep plodding along." wjohnson@thenational.ae

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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.”

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
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In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Brief scoreline:

Manchester United 2

Rashford 28', Martial 72'

Watford 1

Doucoure 90'

How much sugar is in chocolate Easter eggs?
  • The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
  • The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
  • The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
  • The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
  • The Cadbury Creme Egg contains 26g of sugar per 40g egg
COMPANY%20PROFILE
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Where can I submit a sample?

Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.

Collection centres in Abu Dhabi include:

  • Abu Dhabi National Exhibition Centre (ADNEC)
  • Biogenix Labs in Masdar City
  • Al Towayya in Al Ain
  • NMC Royal Hospital in Khalifa City
  • Bareen International Hospital
  • NMC Specialty Hospital, Al Ain
  • NMC Royal Medical Centre - Abu Dhabi
  • NMC Royal Women’s Hospital.
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
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