Pat Cosgrave is set for a return to Dubai after he conceded to pay the Emirates Racing Authority in order to be removed from the regulatory body’s Forfeit List.
The Irish rider was banned for six months after he was found guilty of improper riding aboard Anaerobio in the Group One Jebel Hatta at Meydan in 2014.
Cosgrave appealed against his suspension and it was later reduced to four months. It was not enough for Cosgrave, and he went to the British Horse racing Authority, who did not reciprocate the suspension.
The Emirates Racing Authority continued to pursue Cosgrave for costs, however, and the sum stood at Dh200,000, but the jockey has revealed he has now come to an agreement to pay the organisation so he can return to riding in the country.
“I am paying the money off,” Cosgrave told The National. “I have had a good chat with Sam Shinsky, the ERA Steward, and Frank Gabriel at the Dubai Racing Club and we have come to an arrangement. I am paying it all off and they have been very good about it.”
Cosgrave spoke with Mike de Kock in the summer and will return to Blue Stables in time for the first Dubai World Cup Carnival meeting at Meydan on Thursday and is clear to ride.
The South African trainer has 24 horses accepted to the Carnival, although could have more throughout the season. In a twist one of them is Anaerobio, who was among Monday’s entries for the 1,400-metre turf handicap on Meydan’s seven-race card on Thursday.
Cosgrave will share the rides with Jim Crowley, Sheikh Hamdan bin Rashid’s new retained rider, Christophe Soumillon and Bernard Fayd’Herbe.
The latter’s lowest riding weight is around 56kg, which limits his opportunities and there should be several openings for Cosgrave to pick up freelance mounts.
In the four seasons in the UAE up until his ban, Cosgrave collected Dh7,016,008 in prize-money and since his return to Britain full time he has struck up a fruitful association with William Haggas in Newmarket. Cosgrave broke the 100 winners barrier in Britain in the past two seasons.
“I’m only 34 and hopefully I’ll ride for another 15 years,” Cosgrave added. “I want to put it behind me. Hopefully I can make the costs back. It won’t be easy but hopefully I will be riding for free for only one season.
“I don’t want to go in to it whether I was right or wrong or they were right or wrong. I want to draw a line under it.”
Polar River is the star drawcard to Thursday’s opening round of the Al Maktoum Challenge and last season’s champion juvenile filly will be up against stablemate Cool Cowboy in the Grade 2 contest over 1,600 metres.
Polar River, trained by Doug Watson, won the UAE 1,000 Guineas and Oaks last season before coming up against Japanese colt Lani in the UAE Derby.
The daughter of Congrats was fourth on her seasonal debut in a Conditons race at Meydan in November.
Godolphin have four entries, with Charlie Appleby’s former English 2,000 Guineas hope Emotionless the most significant.
Appleby, who has already had three winners in Dubai this season, also runs Footbridge, who has yet to win in four starts in Dubai since coming from America. Saeed Bin Suroor saddles American Hope and the four year old Silent Attack. De Kock has entered the exciting Argentinian Grade One winner Saltarin Dubai in addition to compatriot Lindo Amor.
sports@thenational.ae
Follow us on Twitter @NatSportUAE
Like us on Facebook at facebook.com/TheNationalSport
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
2.0
Director: S Shankar
Producer: Lyca Productions; presented by Dharma Films
Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey
Rating: 3.5/5 stars
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Selected fixtures
All times UAE
Wednesday
Poland v Portugal 10.45pm
Russia v Sweden 10.45pm
Friday
Belgium v Switzerland 10.45pm
Croatia v England 10.45pm
Saturday
Netherlands v Germany 10.45pm
Rep of Ireland v Denmark 10.45pm
Sunday
Poland v Italy 10.45pm
Monday
Spain v England 10.45pm
Tuesday
France v Germany 10.45pm
Rep of Ireland v Wales 10.45pm
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
2018 ICC World Twenty20 Asian Western Sub Regional Qualifier
Event info: The tournament in Kuwait this month is the first phase of the qualifying process for sides from Asia for the 2020 World T20 in Australia. The UAE must finish within the top three teams out of the six at the competition to advance to the Asia regional finals. Success at regional finals would mean progression to the World T20 Qualifier.
UAE’s fixtures: Fri Apr 20, UAE v Qatar; Sat Apr 21, UAE v Saudi Arabia; Mon Apr 23, UAE v Bahrain; Tue Apr 24, UAE v Maldives; Thu Apr 26, UAE v Kuwait
World T20 2020 Qualifying process:
- Sixteen teams will play at the World T20 in two years’ time.
- Australia have already qualified as hosts
- Nine places are available to the top nine ranked sides in the ICC’s T20i standings, not including Australia, on Dec 31, 2018.
- The final six teams will be decided by a 14-team World T20 Qualifier.
World T20 standings: 1 Pakistan; 2 Australia; 3 India; 4 New Zealand; 5 England; 6 South Africa; 7 West Indies; 8 Sri Lanka; 9 Afghanistan; 10 Bangladesh; 11 Scotland; 12 Zimbabwe; 13 UAE; 14 Netherlands; 15 Hong Kong; 16 Papua New Guinea; 17 Oman; 18 Ireland
Super heroes
Iron Man
Reduced risk of dementia
Alcohol consumption could be an issue
Hulk
Cardiac disease, stroke and dementia from high heart rate
Spider-Man
Agility reduces risk of falls
Increased risk of obesity and mental health issues
Black Panther
Vegetarian diet reduces obesity
Unknown risks of potion drinking
Black Widow
Childhood traumas increase risk of mental illnesses
Thor
He's a god
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
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.”
