Results:
5pm: Maiden (PA) | Dh80,000 | 1,200 metres
Winner: Jabalini, Szczepan Mazur (jockey), Younis Kalbani (trainer)
5.30pm: UAE Arabian Derby (PA) | Prestige | Dh150,000 | 2,200m
Winner: Octave, Gerald Avranche, Abdallah Al Hammadi
6pm: Arabian Triple Crown Round 3 (PA) | Group 3 Dh300,000 | 2,200m
Winner: Harrab, Richard Mullen, Mohamed Ali
6.30pm: Emirates Championship (PA) | Group 1 | Dh1million | 2,200m
Winner: BF Mughader, Szczepan Mazur, Younis Al Kalbani
7pm: Abu Dhabi Championship (TB) | Group 3 | Dh380,000 | 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup (PA) | Conditions | Dh70,000 | 1,600m
Winner: AF La’Asae, Tadhg O’Shea, Ernst Oertel
Tadhg O'Shea became the most successful jockey in the UAE when he recorded his 505th winner in Abu Dhabi on Friday.
O'Shea made history after guiding Ernest Oertel-trained AF La'Asae in the silks of Khalid Khalifa Al Naboodah past stable companion AF Motaghatres under Gerald Avranche.
“Obviously I am delighted with the achievement and would not have thought it possible when I first arrived here in 2001,” O'Shea said after moving past Richard Hills' tally. “I have ridden for many great people and am indebted for all their support over the years."
It will have been a long night for O'Shea who achieved the milestone in the sixth and final race of the card even though he ran in all the previous races at the capital's second-last meeting of the season. But what is one night for a jockey who thought he had sealed the deal in Dubai 24 hour earlier only to realise he had not.
Confusion reigned at Meydan Racecourse on Thursday night after O'Shea rode to his 504th career victory, initially believed to be the new record for most wins by a UAE jockey. But as it turns out, he only tied Hills' all-time record.
The confusion was apparently due to an oversight on the part of Emirates Racing Authority in Abu Dhabi last Sunday when it announced a victorious O’Shea had equalled Hills' record and, therefore, needed just one more win to be out on his own.
O'Shea, though, was thoroughly pleased to reach the landmark in the capital.
“I have enjoyed plenty of success here in Abu Dhabi so it is fitting I broke the record here," he said, adding the fact he won on a Purebred Arabian made it even better. "My first winner in the UAE was a Purebred [Danidor in 2001] for Erwan Charpy, at Jebel Ali.”
Meanwhile, Omani trainer Younis Al Kalbani celebrated the biggest success of his career by winning the Dh1million Group 1 Emirates Championship with BF Mughader under Polish jockey Szczepan Mazur. “We have enjoyed a good season, but this is very special for everybody involved,” said Al Kalbani, who was saddling his 13th winner in the UAE.
Jim Crowley atop Al Zahir, the winner 12 months ago, hit the front at the top of the stretch but was overtaken by Richard Mullen on Rmmas at the 200-metre mark but Mazur challenged almost immediately.
He had BF Mughader in front and held on to win by another fast finishing Abu Alabyad (Fabrice Veron) by three-quarter lengths with Rmmas a short head behind in third. The Mazur-Al Kalbani partnership completed a double having won the opener with debutant Jabalini.
“He [BF Mughader] has always been a very good horse, but is not easy to ride because he needs everything to go right for him which, thankfully, it has today,” Mazur said. “I am based with the trainer and this is a massive and biggest result for us, which is brilliant for the whole team.”
Mullen had earlier produced a late challenge on Mohammed Ali’s Harrab in the Group 3 Arabian Triple Crown Round 3, and Avranche rode a similar race to take the UAE Arabian Derby on Octave for Emirati trainer Abdallah Al Hammadi.
Patrick Cosgrave steered Bahraini trainer Jaber Ramadhan’s GM Hopkins to take the Group 3 Abu Dhabi Championship, the solitary prize for thoroughbreds.
“They went a very good gallop which has suited him,” Cosgrave said of his success on board the eight-year-old gelding by Dubawi.
“Not much has gone right for this horse since he arrived in the UAE, but that strong pace was exactly what he wants and I am delighted for connections because they are only a small stable.”
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
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More from Rashmee Roshan Lall
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
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.”
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
The specs: 2018 Alfa Romeo Stelvio
Price, base: Dh198,300
Engine: 2.0L in-line four-cylinder
Transmission: Eight-speed automatic
Power: 280hp @ 5,250rpm
Torque: 400Nm @ 2,250rpm
Fuel economy, combined: 7L / 100km
UAE currency: the story behind the money in your pockets
MATCH INFO
Barcelona 4 (Messi 23' pen, 45 1', 48', Busquets 85')
Celta Vigo 1 (Olaza 42')
Results:
5pm: Maiden (PA) | Dh80,000 | 1,200 metres
Winner: Jabalini, Szczepan Mazur (jockey), Younis Kalbani (trainer)
5.30pm: UAE Arabian Derby (PA) | Prestige | Dh150,000 | 2,200m
Winner: Octave, Gerald Avranche, Abdallah Al Hammadi
6pm: Arabian Triple Crown Round 3 (PA) | Group 3 Dh300,000 | 2,200m
Winner: Harrab, Richard Mullen, Mohamed Ali
6.30pm: Emirates Championship (PA) | Group 1 | Dh1million | 2,200m
Winner: BF Mughader, Szczepan Mazur, Younis Al Kalbani
7pm: Abu Dhabi Championship (TB) | Group 3 | Dh380,000 | 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup (PA) | Conditions | Dh70,000 | 1,600m
Winner: AF La’Asae, Tadhg O’Shea, Ernst Oertel
