Mystic Guide from Godolphin’s American operation served a fitting celebration to the 25th anniversary of the Dubai World Cup.
Mystic Guide raced prominently before taking up the running on the home stretch to win ahead of Japan’s Chuwa Wizard by three and three-quarter lengths at Meydan on Saturday.
Magny Cours, trained by Andre Fabre in France, finished third ahead of Salem bin Ghadayer’s Hypothetical and Bahraini Fawzi Nass’ Salute The Soldier in the $12 million race.
Hypothetical, under Mickael Barzalona, and Royston Ffrench on Capezzano set the early pace as Luis Saez had Mystic Guide settled in third for much of the 2,000-metre trip.
The Panamanian jockey got to work as the field swept on to the final stretch and moved Mystic Guide to the front. The race was all but over from that point as the Godolphin horse sprinted to victory, providing the stable their ninth Dubai World Cup trophy.
Kieta Tosaki on Chuwa Wizard and William Buick atop Magny Course finished strongly to take the minor placings.
“That was the plan, to get a good position and sit there,” Saez said. “He proved that he’s a champion. He’s a young horse and he can only get better and better.”
Mystic Guide was trainer Michael Stidham's first runner outside America - in one of the world's most prestigious and valuable races.
"I'm very proud, very proud of the horse - and so happy to be here, for Godolphin and Sheikh Mohammed, on the 25th anniversary. To have a performance like that was the icing on the cake.
"I really felt like it was finally my turn to step up to the big time, and I really wanted it to happen - and it has. It's 40 years of emotions right now."
Saez revealed that his horse got affected when Great Scot got fractious. The race was delayed by 14 minutes after two horses broke free after unseated their riders.
First the Abdullah Mishrif-trained Great Scot unseated Frankie Dettori and galloped loose on the way to post. After he was caught and withdrawn, Musabah al Muhairi’s Military Law slipped under the stalls, also running loose before being withdrawn.
“I was a little worried, as he was sweating,” Saez added. “But he’s a professional and did what he had to do in the race."
Saez was not the only one concerned as Stidham admitted he was also worred about how Mystic Guide would deal with the commotion around him.
"He was getting pretty angsty on the walk over - and then in the different holding areas, he was getting a little bit tough, giving us a hard time," he said.
"I was concerned that when he got into the parade ring, it was going to even get a little worse - and it did.
"Then multiple loose horses, loading and unloading, he was starting to kick out. There were comments about him maybe running his race before the race - and I was concerned, I really was.
"But in the end, his class and ability came through."
Mystic Guide proved he has the temperament as well as the talent, and Stidham added: "It's a totally different atmosphere here (to America), and horses have to be able to handle it - it's not easy for an American horse to come over and do it.
"(But) I felt really good when he got the position he got, lying third comfortably down the back. I didn't know for sure - but then down the lane, it was amazing."
For Saez, capturing the Dubai World Cup has been the realisation of a childhood ambition. “It was my dream when I was a kid to win the Dubai World Cup so this means a lot to me. It’s so beautiful," he said. "I want to say hi to my wife, who couldn’t be here today but was watching back home. I love you, see you soon.”
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Things Heard & Seen
Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
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.”
Hili 2: Unesco World Heritage site
The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
The 24-man squad:
Goalkeepers: Thibaut Courtois (Chelsea), Simon Mignolet (Liverpool), Koen Casteels (VfL Wolfsburg).
Defenders: Toby Alderweireld (Tottenham), Thomas Meunier (Paris Saint-Germain), Thomas Vermaelen (Barcelona), Jan Vertonghen (Tottenham), Dedryck Boyata (Celtic), Vincent Kompany (Manchester City).
Midfielders: Marouane Fellaini (Manchester United), Axel Witsel (Tianjin Quanjian), Kevin De Bruyne (Manchester City), Eden Hazard (Chelsea), Nacer Chadli (West Bromwich Albion), Leander Dendoncker (Anderlecht), Thorgan Hazard (Borussia Moenchengladbach), Youri Tielemans (Monaco), Mousa Dembele (Tottenham Hotspur).
Forwards: Michy Batshuayi (Chelsea/Dortmund), Yannick Carrasco (Dalian Yifang), Adnan Januzaj (Real Sociedad), Romelu Lukaku (Manchester United), Dries Mertens (Napoli).
Standby player: Laurent Ciman (Los Angeles FC).
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FOLD%204
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Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
THE BIO
Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old
Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai
Favourite Book: The Alchemist
Favourite quote: Failing to prepare is preparing to fail
Favourite place to Travel to: Vienna
Favourite cuisine: Italian food
Favourite Movie : Scent of a Woman
