DUBAI // Three years in the making, Meydan Racecourse was worth the wait.
The new home of Dubai horse racing was inaugurated yesterday with 60,000 witnesses - a crowd that included celebrities, VIPs and some of the fanciest hats in the fashion world.
Fans began entering the vast steel-and-glass structure just after 2pm, with double-decker buses ferrying them from the public car parks to the gates where they were checked by security staff.
Performing artists on stilts greeted guests as they made their way to the grandstand, where groups of women outfitted in sundresses and fancy hats huddled around the registration booth for the Style Stakes.
Among the more elaborately costumed contestants was Katharina Dietrich, a German designer who travelled to Dubai to be a part of the fashion action.
Wearing a UAE flag-inspired satin dress, complete with black equestrian-inspired hat and an umbrella with three hands which she said depicted the diversity of Dubai, Ms Dietrich posed for pictures as the forecourt slowly filled.
Her outfit was, she said, created in homage to Meydan's launch and the emirate she "loved".
"I like horses and I like Arabic people and love too much Dubai," she said. "This is to give my respect."
For Yana Boleacova, a 22-year-old entrepreneur from Moldova, her outfit a black dress with an elaborate cream headband and hat, and a faux-fur wrap had taken a month of planning.
"I love the Dubai World Cup," she said. "It is the atmosphere of the 19th century, when everyone loved horse riding, and this is an amazing event. I have been twice and I always try to enter the style competitions."
The vast racecourse and open views of the track, she said, were far superior to Nad al Sheba, the former home of the meeting.
Just before 4pm, a short parade of Arabian horses signalled the start of the afternoon's races. Each rider carried a flag of one of the 27 participating countries.
It was on to the first of eight races, the Dubai Kahayla Classic, won by Jaafer.
Trackside, thousands of smart-suited men and glamorous women milled about with refreshments, some gathering at the white fences to catch a closer glimpse of the horses.
Among them, Vipin Das, 30, a rider and foreign-exchange worker from Bangalore, was impressed with the quality of the races as well as the spectacle of the event.
"The infrastructure is wonderful and the information we have been given about each of the races when we came in has been very helpful," he said. "I was interested to see how the Tapeta surface would be. They say it is fit for any conditions. It's just a shame I can't go and test it out myself."
At dusk in the grandstand, Ramamurthy Muthuqumar and his wife and children cheered with friends as the Emirati jockey, Ahmed Ajtebi, celebrated a victory on Calming Influence in the Godolphin Mile.
As his children videotaped the event, Mr Muthuqumar said Meydan's launch was a momentous event for Dubai, one he did not want his children to miss.
"It is like a festival, with the games and the music," he said. "Even though the children may not be able to see the racing so well because they are still small, they are still able to enjoy the crowd and the people."
Soon after, the 14 winners of the Dubai World Cup since its inception in 1996 paraded in front of the crowd.
At 7.30pm the lights were dimmed and the Meydan acoustic choir performed a haunting, specially composed piece of music to moving images of the development of Meydan and the racecourse.
The choir recreated sounds of the evening water pouring, hoofs pounding, the roar of the crowd and the fireworks that were still to come.
In the grandstand, eight-year-old Alamdar Hussain, a pupil at Our Own English High School, and his friend Farhan Ali, nine, from Delhi Private School, were smartly dressed in pinstripe suits. They declared the evening "awesome".
"I love the horses, love the horse racing," Alamdar said. "I like the hats well enough but I am not a girl."
After an evening of racing and mingling came a specially composed poem by Sheikh Mohammed bin Rashid, Vice-President of the UAE and Ruler of Dubai, and Meydan Son Et Lumiere & Pyro: a breathtaking half-hour orchestration of light, media and fireworks in three movements. Organisers had described the spectacle as "a celebration of the spirit and emotion of the people of the day" and a "reflection of their emotions".
The first movement celebrated the cheering and the smiles that grew steadily as the evening wore on.
The second, a lighting sequence, was a more thoughtful display which John Young, the creative director for the event, had said "reflected the calm of the early mornings on the track" as the mist rises and the horses are training.
And the final movement, an explosive celebration of fireworks and lighting, prompted gasps from the spectators.
When it was over, "premiere golden circle" ticket holders made their way to the concert arena to watch the rock stars Elton John and Carlos Santana perform a 90-minute set that continued the carnival feel.
Jim Curley, the managing director of the firm responsible for the opening ceremony, said the performers were chosen because they embodied the emotions he hoped to evoke. "They are both very popular in the region [and] have both been around for a long time. They span all age groups, all cultures and appeal to all audiences," he said.
@Email:loatway@thenational.ae
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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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Fight card
1. Bantamweight: Victor Nunes (BRA) v Siyovush Gulmamadov (TJK)
2. Featherweight: Hussein Salim (IRQ) v Shakhriyor Juraev (UZB)
3. Catchweight 80kg: Rashed Dawood (UAE) v Khamza Yamadaev (RUS)
4. Lightweight: Ho Taek-oh (KOR) v Ronald Girones (CUB)
5. Lightweight: Arthur Zaynukov (RUS) v Damien Lapilus (FRA)
6. Bantamweight: Vinicius de Oliveira (BRA) v Furkatbek Yokubov (RUS)
7. Featherweight: Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)
8. Flyweight: Shannon Ross (TUR) v Donovon Freelow (USA)
9. Lightweight: Mohammad Yahya (UAE) v Dan Collins (GBR)
10. Catchweight 73kg: Islam Mamedov (RUS) v Martun Mezhulmyan (ARM)
11. Bantamweight World title: Jaures Dea (CAM) v Xavier Alaoui (MAR)
12. Flyweight World title: Manon Fiorot (FRA) v Gabriela Campo (ARG)
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You may remember …
Robbie Keane (Atletico de Kolkata) The Irish striker is, along with his former Spurs teammate Dimitar Berbatov, the headline figure in this season’s ISL, having joined defending champions ATK. His grand entrance after arrival from Major League Soccer in the US will be delayed by three games, though, due to a knee injury.
Dimitar Berbatov (Kerala Blasters) Word has it that Rene Meulensteen, the Kerala manager, plans to deploy his Bulgarian star in central midfield. The idea of Berbatov as an all-action, box-to-box midfielder, might jar with Spurs and Manchester United supporters, who more likely recall an always-languid, often-lazy striker.
Wes Brown (Kerala Blasters) Revived his playing career last season to help out at Blackburn Rovers, where he was also a coach. Since then, the 23-cap England centre back, who is now 38, has been reunited with the former Manchester United assistant coach Meulensteen, after signing for Kerala.
Andre Bikey (Jamshedpur) The Cameroonian defender is onto the 17th club of a career has taken him to Spain, Portugal, Russia, the UK, Greece, and now India. He is still only 32, so there is plenty of time to add to that tally, too. Scored goals against Liverpool and Chelsea during his time with Reading in England.
Emiliano Alfaro (Pune City) The Uruguayan striker has played for Liverpool – the Montevideo one, rather than the better-known side in England – and Lazio in Italy. He was prolific for a season at Al Wasl in the Arabian Gulf League in 2012/13. He returned for one season with Fujairah, whom he left to join Pune.
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
SCORES
Multiply Titans 81-2 in 12.1 overs
(Tony de Zorzi, 34)
bt Auckland Aces 80 all out in 16 overs
(Shawn von Borg 4-15, Alfred Mothoa 2-11, Tshepo Moreki 2-16).
MOTHER%20OF%20STRANGERS
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Previous men's records
- 2:01:39: Eliud Kipchoge (KEN) on 16/9/19 in Berlin
- 2:02:57: Dennis Kimetto (KEN) on 28/09/2014 in Berlin
- 2:03:23: Wilson Kipsang (KEN) on 29/09/2013 in Berlin
- 2:03:38: Patrick Makau (KEN) on 25/09/2011 in Berlin
- 2:03:59: Haile Gebreselassie (ETH) on 28/09/2008 in Berlin
- 2:04:26: Haile Gebreselassie (ETH) on 30/09/2007 in Berlin
- 2:04:55: Paul Tergat (KEN) on 28/09/2003 in Berlin
- 2:05:38: Khalid Khannouchi (USA) 14/04/2002 in London
- 2:05:42: Khalid Khannouchi (USA) 24/10/1999 in Chicago
- 2:06:05: Ronaldo da Costa (BRA) 20/09/1998 in Berlin
The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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.”
RESULT
Esperance de Tunis 1 Guadalajara 1
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’
Vikram%20Vedha
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Match info
Manchester United 4
(Pogba 5', 33', Rashford 45', Lukaku 72')
Bournemouth 1
(Ake 45 2')
Red card: Eric Bailly (Manchester United)
Brief scoreline:
Manchester United 2
Rashford 28', Martial 72'
Watford 1
Doucoure 90'
PREMIER LEAGUE FIXTURES
Saturday (UAE kick-off times)
Watford v Leicester City (3.30pm)
Brighton v Arsenal (6pm)
West Ham v Wolves (8.30pm)
Bournemouth v Crystal Palace (10.45pm)
Sunday
Newcastle United v Sheffield United (5pm)
Aston Villa v Chelsea (7.15pm)
Everton v Liverpool (10pm)
Monday
Manchester City v Burnley (11pm)
Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings