Manny Pacquiao watches the game between the Miami Heat and the Milwaukee Bucks on January 27. 2015. Alan Diaz / AP
Manny Pacquiao watches the game between the Miami Heat and the Milwaukee Bucks on January 27. 2015. Alan Diaz / AP

Mayweather and Pacquaio meet in person, but next time will it be in the ring?



Floyd Mayweather Jr. and Manny Pacquiao have finally met – in person.

And now talks might get serious about them meeting in the ring.

The fighters were both sitting courtside, directly across from one another, at a Miami Heat game on Tuesday night. Mayweather went over to Pacquiao at halftime, the men shook hands and chatted briefly, then exchanged phone numbers.

“He gave his number to me and said we will communicate with each other,” said Pacquiao, adding that he had never before met Mayweather in person.

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Asked to clarify if the exchange meant the two would negotiate directly about meeting in the ring, Pacquiao said that was the case.

Mayweather did not respond to a question asked by an AP reporter. “Not now,” one of his security guards said, as Mayweather fiddled with his phone.

A bout between the two would almost certainly be the richest ever in boxing, potentially grossing as much as $250 million. Mayweather’s take alone could exceed $100 million.

Mayweather said last month that he’s ready to make the fight happen May 2. Asked Tuesday if that date can finally be the one, Pacquiao – who has said it’s time to give boxing fans what they want – nodded and said “yes.”

When Mayweather said he wanted the May 2 fight to happen, he said Pacquiao promoter Bob Arum had been the main obstacle for it not coming together in the last five years. Mayweather repeated his old charges about Pacquiao not wanting to do blood tests prior to the fight for it not happening five years ago.

He also has no doubt that he could beat Pacquiao.

“I know that he’s not on my level,” Mayweather said last month.

Pacquiao has a similar confidence, saying on Twitter recently that “I can easily beat @FloydMayweather, I believe that.”

It appears to be happenstance that Mayweather and Pacquiao were together on Tuesday.

Pacquiao has been in Miami for several days, after serving as one of the judges in the Miss Universe pageant at Florida International University. He was supposed to leave Tuesday night but said his flight was canceled – as many were in South Florida because of the crippling effects felt nationwide by the havoc a winter storm caused in the New York and Boston areas.

So Pacquiao decided to go to the Heat-Milwaukee Bucks game. He’s a noted basketball fan and has a good relationship with Heat coach Erik Spoelstra, who is of Filipino descent.

Mayweather has been a regular courtside attendee at Heat games for several years.

And it just so happened they picked the same game. Pacquiao said he didn’t expect to see Mayweather – who had a seat just a few feet from Spoelstra’s spot on the side of the court where the Heat have their bench.

Mayweather, the WBA and WBC welterweight champion, hasn’t lost in 47 fights. Pacquiao, the WBO welterweight titleholder, is 57-5-2 in his career.

Even the Heat weighed in on the buzz surrounding the potential fight. They put photos of both fighters on their video screens during a first-half stoppage in play, with the caption “Coming in 2015?”

There’s no sure answer – yet.

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.”

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

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Price: From Dh149,900

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Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Company profile

Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

Sector: Online gaming industry

Funding: $1.2m from a UAE angel investor

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Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

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The specs

Engine: 2.0-litre 4-cylinder turbo hybrid

Transmission: eight-speed automatic

Power: 390bhp

Torque: 400Nm

Price: Dh340,000 ($92,579

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AT4 Ultimate, as tested

Engine: 6.2-litre V8

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The specs
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Transmission: 7-speed PDK auto or 6-speed manual
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SCHEDULE FOR SHOW COURTS

Centre Court - from 4pm (UAE time)
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Alexandr Dolgopolov v Roger Federer (3)

Court One - from 4pm
Milos Raonic (6) v Jan-Lennard Struff
Karolina Pliskova (3) v Evgeniya Rodina 
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Court Two - from 2.30pm
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8.15pm: Romantic Warrior
8.50pm: Calandogan
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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The 12 Syrian entities delisted by UK 

Ministry of Interior
Ministry of Defence
General Intelligence Directorate
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Syrian National Security Bureau
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Mia Man’s tips for fermentation

- Start with a simple recipe such as yogurt or sauerkraut

- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.

- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.

- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.

 

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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