The 2020 Tokyo Olympics are well under way with some sensational performances already in the pool, off the diving board and on the skatepark.
And while we all love to play guess the country's flag, one in particular is conspicuous by its absence.
What country is ROC in the Olympics?
Russia is banned from the Olympics but is competing under another name at the Tokyo Games.
It is the latest fallout from the Games’ longest-running doping saga. ROC stands for Russian Olympic Committee, and Russian athletes are allowed to represent the committee, even though they can't represent their own country.
Olympic rules require that the acronym ROC be used instead of the full name.
The new rules — an evolution of the “OAR” restrictions used at the 2018 Winter Olympics — are a confusing patchwork of dos and don'ts.
Russian red, white and blue on uniforms are fine — the blocks of color on the official tracksuits form one big flag — but not the word "Russia," the flag itself or other national symbols. The artistic swimming team said it's been blocked from wearing costumes with a drawing of a bear.
Official Olympic paperwork and TV graphics will attribute Russian results to “ROC” but won't spell out the Russian Olympic Committee's name in full. Gold medalists will get music by Russian composer Tchaikovsky instead of the country's national anthem.
ROC squad
Despite the name change, Russia will have a nearly full team at the Olympics after sending depleted squads to the 2016 Rio de Janeiro Olympics and the 2018 Pyeongchang Winter Games.
This time, only track and field and weightlifting will impose limits on Russian squad size. They are the two sports with the largest numbers of doping cases — from Russia and elsewhere — in recent Olympics. Russian officials have selected a 10-person track team that includes three world champions.
Why is Russia banned from the Olympics?
The latest rules on Russia's name and image were set last year by the Court of Arbitration for Sport in a ruling that satisfied almost nobody.
As so often with Russia, the sanctions aren’t as much about doping as about the cover-up.
Just when Russia was patching up relations with the World Anti-Doping Agency in 2019 by allowing it access to the Moscow anti-doping lab's files, Wada investigators spotted strange anomalies in the data. Evidence had been deleted and spurious information added, including fake messages designed to tarnish the name of Wada's star witness, former lab director Grigory Rodchenkov.
Wada said the edits were made while the lab was sealed off by a Russian law enforcement body. Russia denied wrongdoing.
How are ROC doing at Tokyo?
Not too bad, for a non-country of 144.4 million.
As of the time of publishing athletes representing ROC had won eight medals. Vitalina Batsarashkina set a new Olympic record on her way to winning a gold medal in the women's 10m Air Pistol on Sunday while Anastasiia Galashina won silver in the women's 10m Air Rifle.
Inna Deriglazova and Larisa Korobeynikova collected a silver and bronze medal respectively in fencing while Tatiana Minina won a silver medal in Taekwondo.
The women's team medalled in archery, another silver, while the men's synchronised divers won bronze.
Mikhail Artamonov also won bronze in the men's Taekwondo.
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.”
The%20Roundup
%3Cp%3EDirector%3A%20Lee%20Sang-yong%3Cbr%3EStars%3A%20Ma%20Dong-seok%2C%20Sukku%20Son%2C%20Choi%20Gwi-hwa%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Masters%20of%20the%20Air
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Cary%20Joji%20Fukunaga%2C%20Dee%20Rees%2C%20Anna%20Boden%2C%20Ryan%20Fleck%2C%20Tim%20Van%20Patten%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Austin%20Butler%2C%20Callum%20Turner%2C%20Anthony%20Boyle%2C%20Barry%20Keoghan%2C%20Sawyer%20Spielberg%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
More on Quran memorisation: