If you had flown into Abu Dhabi last October and maybe taken in some of the stages of the inaugural Abu Dhabi Tour, there was little way of knowing that the race was not already among the world's elite races.
You would have witnessed several of the world’s best teams and riders competing, including then-world champion Peter Sagan and Vincenzo Nibali, winner of the three Grand Tours.
You would have seen a sturdy mixture of challenges designed to attract all kinds of riders. You would have seen some breathtakingly close sprint finishes and you would have seen about as dramatic an end as you can hope: 150 metres from the end of an 11.7-kilometre climb, having launched an impressive counter-attack on Esteban Chaves, Team Sky’s Wouter Poels felt his front wheel wobble around a bend and then give way completely.
See also:
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He slipped, Chaves sped past for the win, and Poels was left heart-broken. He does not often win, he said then, and what a win that would have been.
At that moment, and indeed in the aftermath of Chaves’s eventual general classification win the following day, you would have been forgiven for thinking the race was already part of the World Tour.
It was not. It was a 2.1 category event, a tough race sure, but not one with elite status. It says much about the Abu Dhabi Sport Council’s (ADSC) organisation of that race – along with RCS Sport – that it never felt like it was not a top race.
And it says much about the organisers that after just one edition, the race has been upgraded twice over. On Thursday this week the second Abu Dhabi Tour begins with 2. HC status. Four months from now, next February, it takes its place as an elite UCI (Union Cycliste Internationale) World Tour Race, essentially the top-level series of men’s races which includes the three Grand Tours, the Giro d’Italia, the Tour de France and the Vuelta a Espana.
“It was a great success, one of the highlights of the year,” said Graham Bartlett, chief executive of the Velon group, a joint venture of 11 of the world’s best cycling teams. Velon partners with ADSC for the race.
“I think it is testament to ADSC that they put on such a great race straight out the door. The partnership we have with them we are very, very happy with. They managed to get their race to World Tour status very quickly, which is a big achievement. That’s a real testament to go from a new race to World Tour status inside two years, a fantastic achievement.”
From the beginning the aim was to upgrade the race as soon as possible. But even as recently as April, that target still felt a little while away.
Aref Al Awani, the ADSC general secretary that day, said upgrading the race was “one of the things that has been in our planning from the very first day that we talked about the Abu Dhabi Tour”.
“Most of the requirements are there and they are satisfied with our race. But this is a long journey. During the race we can have another meeting and see from there. There is already an application but it is a long journey.”
Cycling officials believe two factors have coincided favourably for the upgrade. One is that the sport has been actively looking to expand out of its European stronghold into newer regions and markets not known for cycling tradition but which provide scope for growth.
Last year’s World Tour had 27 races but not a single one in Asia. This year’s is an expanded calendar, with 37 races including one in Qatar and in Turkey.
The other, however, is the nature of Abu Dhabi’s long-term commitment itself to cycling. That goes beyond just the staging of big professional races and deeper into the benefits of it as a recreational health pursuit for the community.
The partnership with Velon has also been smart. “When they [UCI] are looking at a race, what they want to see is a strong race, that is sustainable, that has a legacy and has a very high quality field,” Bartlett said. “If you want to be on the World Tour, you need to be having the best teams and riders there.”
Those will be on plentiful display later this week, but even more are expected next February. Better temperatures, and part of a dedicated Middle East swing in the calendar, offers more scope.
“Going to February is a completely different story,” Lorenzo Giorgetti, chief executive of RCS Sport, told www.cyclingnews.com. “We can have much longer stages. This is the largest emirate of the UAE, we could do 20 stages in Abu Dhabi – there’s a lot to show, a lot to see. So from a race perspective we could decide if it’s a race for sprinters, for climbers, or anyone, because the territory offers a lot.”
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Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
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UAE currency: the story behind the money in your pockets
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UAE currency: the story behind the money in your pockets
Cricket World Cup League 2 Fixtures
Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)
Sunday March 6, Oman v Namibia, ICC Academy
Tuesday March 8, UAE v Namibia, ICC Academy
Wednesday March 9, UAE v Oman, ICC Academy
Friday March 11, Oman v Namibia, Sharjah Cricket Stadium
Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium
UAE squad
Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia
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Company%20Profile
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UAE currency: the story behind the money in your pockets
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.”
A meeting of young minds
The 3,494 entries for the 2019 Sharjah Children Biennial come from:
435 – UAE
2,000 – China
808 – United Kingdom
165 – Argentina
38 – Lebanon
16 – Saudi Arabia
16 – Bangladesh
6 – Ireland
3 – Egypt
3 – France
2 – Sudan
1 – Kuwait
1 – Australia
The bio
Favourite food: Japanese
Favourite car: Lamborghini
Favourite hobby: Football
Favourite quote: If your dreams don’t scare you, they are not big enough
Favourite country: UAE
THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
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The lowdown
Bohemian Rhapsody
Director: Bryan Singer
Starring: Rami Malek, Lucy Boynton, Gwilym Lee
Rating: 3/5
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
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Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
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How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying