With experience comes enlightenment.
California Chrome embarks on his quest to land the Dubai World Cup on Thursday night when the five-year-old chestnut breaks from the inside gate under Victor Espinoza in the Trans Gulf Electromechanical Trophy, the sixth event on the seven-race card.
Outside him in the $150,000 (Dh550,900) contest over 2,000 metres will be seven runners that are likely to set the race up for him, with perhaps only Godolphin’s Good Contact his only serious rival.
Connections are bullish going into the race, and that is because their new, more organised way of doing things appears to be bearing fruit.
Gone is the scattergun, and some might say scatter-brained, campaign ideas of last season.
They have been replaced by a far more considered method that focuses in their cross-hairs just the world’s only $10 million race and the Breeders’ Cup Classic at Santa Anita in November.
Nothing else really matters.
More Geoffrey Riddle
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– California Chrome comes to Dubai having 'never carried so much' weight, according to trainer
Tonight’s handicap assignment has been chosen by trainer Art Sherman and majority owner Perry Martin because it is an easier task than running against Keen Ice and Frosted on Super Saturday next week.
It also affords California Chrome extra time to recover from his exertions.
Art Sherman told The National this week that he expects a "champion run" from California Chrome, and fellow American trainer Steve Asmussen can understand why.
The South Dakotan was the last American to use a handicap to prepare a Dubai World Cup runner when at Nad Al Sheba in 2008 he tacked up Curlin, the reigning US Horse Of The Year at the time, to run in the Jaguar Trophy Handicap.
Curlin was the best horse from America to travel to Dubai since Cigar won the inaugural Dubai World Cup in 1996.
The 2007 Breeders’ Cup Classic winner gave 7 kilograms and a beating to Godolphin’s Familiar Territory.
He went on to win the World Cup by nearly eight lengths.
Curlin was rated 129 in comparison to the 121 of California Chrome, who has to give six of his rivals 7kgs and more worryingly Godolphin’s improving Good Contact 9.5kgs.
Curlin had not run since his Classic win, whereas California Chrome warmed up for his Dubai trip with a comfortable victory at the San Pasqual Stakes 46 days ago.
“My level of confidence could not have been higher,” Asmussen said from his US base.
“We felt very prepared. Before we left America we talked about how much weight he would have to carry and made sure we trained him with extra weight in preparation.”
The California Chrome team have yet to drill down to such granular detail, but the way they have readied their stable star this time around is in marked contrast to last year’s campaign that lurched from one disaster to the next.
Following the Dubai World Cup run behind Prince Bishop, California Chrome missed an intended Royal Ascot prep run in the Group 1 Lockinge Stakes in May.
He then missed the Prince Of Wales’s Stakes because of a foot bruise. He was later scratched from the Arlington Million due to a bruised cannon bone.
It is the convalescence on the stud farms at new part-owners Taylor Made that has resulted in California Chrome looking in the best form since he won the Kentucky Derby and Preakness Stakes in 2014.
According to Sherman, he is stronger than ever, too.
One of the main reasons why Asmussen shipped Curlin to Dubai was that he felt the earlier he came the more petrol there would be left in the tank when they returned to America.
“Some of our team had reservations about going to Dubai because the thinking was at the time that once a horse went to Dubai they were never the same again,” he said.
“We felt we needed to acclimatise him in Dubai, and on his return, so we had more horse when we got back.
“Some people say that wasn’t the case after Curlin won the World Cup, but he only got beaten on turf in the Man O’War Stakes and in the Classic on the Pro-Ride at Santa Anita.
“Running him on that was like telling Michaelangelo what paints to use.”
This week the Dubai Racing Club announced that Janet Jackson will play on March 26 following the running of the 21st Dubai World Cup.
On her new album Unbreakable is a track called "Lessons Learned". It could be a particularly appropriate song for her to play were California Chrome to prevail Thursday and again in four weeks.
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Jebel Ali results
2pm: Handicap (PA) Dh 50,000 (Dirt) 1,400m
Winner: AF Al Moreeb, Antonio Fresu (jockey), Ernst Oertel (trainer)
2.30pm: Maiden (TB) Dh 60,000 (D) 1,400m
Winner: Shamikh, Ryan Curatolo, Nicholas Bachalard
3pm: Handicap (TB) Dh 64,000 (D) 1,600m
Winner: One Vision, Connor Beasley, Ali Rashid Al Raihe
3.30pm: Conditions (TB) Dh 100,000 (D) 1,600m
Winner: Gabr, Sam Hitchcott, Doug Watson
4pm: Handicap (TB) Dh 96,000 (D) 1,800m
Winner: Just A Penny, Sam Hitchcock, Doug Watson
4.30pm: Maiden (TB) Dh 60,000 (D) 1,600m
Winner: Torno Subito, Sam Hitchcock, Doug Watson
5pm: Handicap (TB) Dh 76,000 (D) 1,950m
Winner: Untold Secret, Jose Santiago, Salem bin Ghadayer
England's Ashes squad
Joe Root (captain), Moeen Ali, Jimmy Anderson, Jofra Archer, Jonny Bairstow, Stuart Broad, Rory Burns, Jos Buttler, Sam Curran, Joe Denly, Jason Roy, Ben Stokes, Olly Stone, Chris Woakes.
Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
BUNDESLIGA FIXTURES
Friday (all kick-offs UAE time)
Hertha Berlin v Union Berlin (10.30pm)
Saturday
Freiburg v Werder Bremen (5.30pm)
Paderborn v Hoffenheim (5.30pm)
Wolfsburg v Borussia Dortmund (5.30pm)
Borussia Monchengladbach v Bayer Leverkusen (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Sunday
Schalke v Augsburg (3.30pm)
Mainz v RB Leipzig (5.30pm)
Cologne v Fortuna Dusseldorf (8pm)
England XI for second Test
Rory Burns, Keaton Jennings, Ben Stokes, Joe Root (c), Jos Buttler, Moeen Ali, Ben Foakes (wk), Sam Curran, Adil Rashid, Jack Leach, James Anderson
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
The team
Photographer: Mateusz Stefanowski at Art Factory
Videographer: Jear Valasquez
Fashion director: Sarah Maisey
Make-up: Gulum Erzincan at Art Factory
Model: Randa at Art Factory Videographer’s assistant: Zanong Magat
Photographer’s assistant: Sophia Shlykova
With thanks to Jubail Mangrove Park, Jubail Island, Abu Dhabi
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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MATCH INFO
Euro 2020 qualifier
Norway v Spain, Saturday, 10.45pm, UAE
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
The specs
Engine: 2.5-litre, turbocharged 5-cylinder
Transmission: seven-speed auto
Power: 400hp
Torque: 500Nm
Price: Dh300,000 (estimate)
On sale: 2022
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The biog
Favourite Quote: “Real victories are those that protect human life, not those that result from its destruction emerge from its ashes,” by The late king Hussain of Jordan.
Favourite Hobby: Writing and cooking
Favourite Book: The Prophet by Gibran Khalil Gibran
Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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.”
