Follow the latest news on the 2024 Paris Olympics
Djamel Sedjati is targeting both the gold medal and David Rudisha's 800m world record when the Algerian runner begins his Paris Olympics campaign next week.
Algeria became something of a force in middle-distance running, thanks to the success of Taoufik Makhloufi, who won 1500m gold at London 2012 and claimed double 800-1500m silvers in Rio four years later.
However, the nation failed to medal at the Covid-delayed Tokyo Games in 2021, which was seen as a massive disappointment.
Now Algeria has an athlete in the form of his life and gunning for what remains one of the toughest world records. Rudisha set the mark of 1min 40.91sec when winning gold in the London Olympics in 2012.
It was a simply stunning run, but for the first time since that heady night in the British capital, there is a feeling Sedjati could be the one to threaten the time.
This year has been a real breakthrough season for the 25-year-old, born in the northern Algerian city of Tiaret.
He broke Makhloufi's national record at the Paris Diamond League meeting this month, clocking an outstanding 1:41.56 to become the third-fastest athlete in the history of the race after Rudisha and Denmark's Wilson Kipketer (1:41.11).
Sedjati did not sit on his laurels after Paris, improving his time to 1:41.46, a Diamond League record and new world leading time, just five days later in Monaco.
"I am now thinking of the world record, I hope to run it at the Olympic Games," said the Algerian, who claimed silver at the 2022 Eugene world championships.
"I will focus on that and put in the necessary work so that I can achieve my goal. It's the fourth time I've run a world lead and the second time an Algerian record, I have worked really hard for that."
Sedjati, who this year has also set a world lead of 2:13.97 over the 1000m, in Johannesburg, added: "I will keep the preparation the same. My mindset is that the hard work I have put in will pay off."
A trip to the Paris Olympics will hold extra meaning for Sedjati, who was forced into quarantine at the Tokyo Games after contracting Covid-19 shortly after his arrival in the Japanese capital.
And as an Algerian at the Olympics, he has a lot to live up to; the country, which made its Olympic debut in 1964, has garnered nine medals in athletics, including four golds.
Those to have topped the podium aside from Makhloufi in 2012 are all middle-distance runners: Nouria Benida Merah (1500m, 2000), Noureddine Morsli (1500m, 1996) and Hassiba Boulmerka (1500m, 1992).
Tellingly, Sedjati is currently coached by Ammar Benida Merah, who also oversaw his wife Nouria's pathway to gold in Sydney.
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UK
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Germany
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Italy
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Switzerland
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Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
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.”
How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
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If driving, turn your engine off when stationary.
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