Filippo Ganna, left, leads his Italy teammates Francesco Lamon, Simone Consonni and Jonathan Milan to victory in the men's team pursuit final against Denmark.
Filippo Ganna, left, leads his Italy teammates Francesco Lamon, Simone Consonni and Jonathan Milan to victory in the men's team pursuit final against Denmark.
Filippo Ganna, left, leads his Italy teammates Francesco Lamon, Simone Consonni and Jonathan Milan to victory in the men's team pursuit final against Denmark.
Filippo Ganna, left, leads his Italy teammates Francesco Lamon, Simone Consonni and Jonathan Milan to victory in the men's team pursuit final against Denmark.

Italy edge Denmark in thrilling men's team pursuit final to end 61-year wait for gold


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Italy ended a 61-year wait for Olympic gold in the men's team pursuit after breaking their own world record and beating the fancied Denmark team in a thrilling final at the Izu Velodrome on Wednesday.

The Italians shaded a neck-and-neck battle on the track, their blistering time of 3min 42.032secs just enough to hold off Denmark, who crossed the line in 3:42.198.

Led by Filippo Ganna, the Italy quartet roared with delight after they powered to victory, circling around the arena in front of an enthralled crowd of around 1,000 fans in Shizuoka.

The velodrome is one of the few venues at Tokyo 2020 allowing a limited number of spectators and they were treated to a brilliant final in what is the most prestigious event of the track cycling programme.

Ganna, who endured disappointment on the road last week in the time trial, was integral to the victory, regaining Italy's advantage with a superb final lap.

"We know Denmark are good over the first three kilometres and we have something special in the last kilometre," Ganna, 25, said. "The plan went well and now we have the gold medal around our necks."

Ganna, Simone Consonni, Francesco Lamon and Jonathan Milan sealed a record extending eighth Olympic gold medal in the men's team pursuit but it is their first gold in the event since Rome 1960.

This was also only Italy's second Olympic gold medal on the track in the past 21 years, with Elia Viviani winning the men's omnium at Rio 2016.

"We are so happy for this gold medal," Consonni said. "This is a big, big lift for the whole group. For five years we started working for this. We are so happy."

They had already broken the world record on Tuesday, lowering the mark Denmark had set en route to becoming world champions in Berlin last year.

Denmark were going for only their second men's team pursuit gold in history and went close, with their attempt also beating Italy's previous world record time.

"We're incredibly disappointed right now," said Danish rider Niklas Larsen. "We've been training towards and hoping for gold for such a long time. Right now we are super disappointed."

The Abu Dhabi Awards explained:

What are the awards? They honour anyone who has made a contribution to life in Abu Dhabi.

Are they open to only Emiratis? The awards are open to anyone, regardless of age or nationality, living anywhere in the world.

When do nominations close? The process concludes on December 31.

How do I nominate someone? Through the website.

When is the ceremony? The awards event will take place early next year.

MATCH INFO

Europa League final

Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports

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The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

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The five pillars of Islam
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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 five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Indoor cricket in a nutshell

Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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Sri Lanka v England

First Test, at Galle
England won by 211

Second Test, at Kandy
England won by 57 runs

Third Test, at Colombo
From Nov 23-27

Updated: August 04, 2021, 11:34 AM