Force India driver Nico Hulkenberg has a modest ambition for this weekend’s Formula One season opener in Australia: finishing a lap.
Hulkenberg has failed to finish a single lap of the race in three previous visits to the Albert Park circuit – twice crashing out and once retiring with a technical problem.
If he does manage to make it around the circuit on Sunday, Hulkenberg can look forward to a strong finish as Force India had a largely trouble-free pres-eason while many of its rivals have experienced major issues with the new turbo hybrid engines.
Hulkenberg, who has returned to Force India after a frustrating season at Sauber in 2013, said his sequence of goals are “to complete a race lap, then to finish, and hopefully get some points.”
With points awarded to the top 10 finishers, just making it through the 58 scheduled laps may be enough to fulfill that goal with the many reliability problems that emerged over pre-season testing indicating that a lot of cars will not make it that far.
Of the three engine providers – along with Renault and Ferrari – it was the Mercedes-powered cars that appear to have best handled the difficult task of integrating the new V6 engines with reintroduced turbochargers and the expanded role of hybrid power.
Along with Force India, the other Mercedes-powered cars are the factory Mercedes team, which is the favourite to win on Sunday, plus McLaren and Williams.
The engine headaches, plus the cut in fuel allowance to 100 kilograms (220 pounds) per car – last year’s average was around 160 kilograms (353 pounds)– mean that cars will not be able to race at full throttle for much of Sunday’s race at Albert Park, which is a high fuel-consumption track.
Hulkenberg acknowledged that racing in preservation mode goes against the grain.
“Naturally a race driver wants to push every corner, every lap, so it goes against that instinct,” Hulkenberg said.
Another new regulation for 2014 is an increase in the total allowable weight of car and driver combined from 642 kilograms (1,415 pounds) to 691 kilograms (1,523 pounds). That has been bad news for a lot of drivers because the new engines and tyres combined have accounted for more than that extra 49 kilograms (108 pounds).
Hulkenberg was expected to be one of the drivers worst affected by the rule because he the tallest of the current drivers at 1.84 meters (six feet), with some saying that was one reason why he lost out on a drive at Ferrari in 2014, as the team was concerned about accommodating his weight.
However it has strangely worked out as a positive for him because he has long been stringent in his efforts to keep weight down, while some other drivers have only now been forced to severely cut their weight.
“I didn’t have to lose weight, because last year I was close to my limit,” Hulkenberg said. “Unlike other drivers I didn’t have to lose weight over winter.”
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UAE currency: the story behind the money in your pockets
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EDirect%20Debit%20System%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20Sept%202017%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20with%20a%20subsidiary%20in%20the%20UK%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Undisclosed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Elaine%20Jones%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
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.”
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SERIE A FIXTURES
Saturday (All UAE kick-off times)
Cagliari v AC Milan (6pm)
Lazio v Napoli (9pm)
Inter Milan v Atalanta (11.45pm)
Sunday
Udinese v Sassuolo (3.30pm)
Sampdoria v Brescia (6pm)
Fiorentina v SPAL (6pm)
Torino v Bologna (6pm)
Verona v Genoa (9pm)
Roma V Juventus (11.45pm)
Parma v Lecce (11.45pm)
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
