Spectators watch from a fan zone set up at the Hotel de Ville, as Simone Biles, of the US, performs on the vault during a women's artistic gymnastics qualification round at the 2024 Summer Olympics. AP
Spectators watch from a fan zone set up at the Hotel de Ville, as Simone Biles, of the US, performs on the vault during a women's artistic gymnastics qualification round at the 2024 Summer Olympics. AP
Spectators watch from a fan zone set up at the Hotel de Ville, as Simone Biles, of the US, performs on the vault during a women's artistic gymnastics qualification round at the 2024 Summer Olympics. AP
Spectators watch from a fan zone set up at the Hotel de Ville, as Simone Biles, of the US, performs on the vault during a women's artistic gymnastics qualification round at the 2024 Summer Olympics. A


Captivating Olympic Games a success for masterful branding


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July 31, 2024

Take your pick. Tom Pidcock coming back from a puncture and surging through a seemingly impossible gap to clinch the mountain biking gold. Andy Murray and Dan Evans winning their tennis match from five match points down. Swimmer Adam Peaty missing his third consecutive victory by a fingertip or 0.02 of a second.

And that’s just the first few days. And that’s from an admittedly patriotic Team GB perspective. As time goes on there will be many more, and every country will have its own heroes, its own tales to tell.

There may be wars and conflicts, economic crises, climate change, natural disasters – yet somehow the Olympic Games manages to rise above all that, providing joyous relief from the rest of the world for three magical weeks.

It’s true that Paris 2024 did not get off to the best of starts, with the torrential rain and technical difficulties with the sound producing awkward moments. But then there was the spectacle of the Eiffel Tower and the voice that is Celine Dion. The Opening Ceremony came good in the end, and of course, once that is over, there is the sport.

Britain's Adam Peaty competes in the final of the men's 100m breaststroke swimming event. AFP
Britain's Adam Peaty competes in the final of the men's 100m breaststroke swimming event. AFP

Alongside the football World Cup, the Olympics is the world’s largest sporting event. There are bound to be problems and issues, boycotts, walkouts, incidents of doping and cheating, claims of commercialisation, budget overruns and more. However, like clockwork, every four years, overall it generally manages to deliver, producing something that is bigger than sports, that for a few weeks achieves something remarkable in uniting the world, with all its differences, in a way that other occasions simply do not.

What’s responsible is finely-honed branding. Strangely, the organising International Olympic Committee or IOC receives a more negative press than the event itself. The IOC is regularly at the centre of disputes and accusations of playing geopolitics, favouritism and corruption. That is not the case with the actual competition.


For a few weeks [the Olympics] achieves something remarkable in uniting the world... in a way that other occasions simply do not

There, once the starting gun is sounded, it’s all about endeavour and brilliance. Who cannot delight in the sheer grace and athleticism that is Simone Biles? The US may be divided socially and politically, much of the world has an anti-American bias, but surely, no one can fail to be awestruck at the genius of the country’s star gymnast.

Ever since the Olympics was resurrected in 1896, and the ‘Modern Games’ began, the Olympic Movement has crafted an image that is an example to others. There may be major, world commercial brands but none match the Olympics for the way in which its symbolism and messaging fit and work together. It really is a triumph of branding and marketing.

Key is the Olympic Brand Guidelines. “Our vision is to build a better world through sport. To inspire, by being the best that we can be. The best of what we can achieve. Together.”

The Paris 2024 Olympic Games opening ceremony – in pictures

The brand framework is built on five values: “hopeful,” “universal,” “inclusive,” “vibrant” and “progressive.” That same five is repeated in the five Olympic rings. Each ring represents one of the continents competing in the Games. Each country’s flag is contained in the colour of the rings.

Every single part of the brand has a purpose. Everything is fully integrated – it all relates back to that vision statement. Discipline is tight, the narrative is rigorously maintained.

The Olympics reaches a vast, global audience across different age groups, demographics and languages. That requires an incredible effort by a PR, communications team knowing how people consume their media and what appeals to them. They produce tonnes of curated content for digital and traditional media, scouring events for stories of human endeavour.

It’s designed to connect, to pull at heartstrings, drawing the audience in – and critically, emphasising the brand messaging.

Tellingly, so often the athletes without thinking evoke those values themselves. There is GB’s Peaty in the pool, suffering the crushing disappointment of being denied a third successive gold by the narrowest of margins. What does he do? Rush to congratulate the Italian winner. Brilliant, directly on message and in front of the watching millions of TV viewers.

It helps of course where the Games are held. Some cities lend themselves to playing host, blending the splendour of the surroundings with the beauty of the sporting pageant. The combination makes for a magical, memorable occasion. Paris, Athens, London spring to mind as recent locations that fell into this category.

Aiding the headiness of the mix is how much the nation and city want the Games. London in 2012 took to hosting, recruiting thousands of happy volunteers, putting on concerts and effectively turning holding the Olympics into an excuse for one mass, ultimately exhausting party.

Paris is similar. Emmanuel Macron was desperate for the Games, as was the Paris mayor, Anne Hidalgo. The French, too, have embraced them. Alas, they’ve coincided with the president suddenly appearing weak in the face of political turmoil – ironically that he chose to exacerbate by calling a snap election.

Hidalgo, too, has her difficulties. A week ago, she pronounced the Seine clean enough to swim in, and demonstrated as much by somewhat clumsily diving in herself. Now, the wet weather has caused the return of pollution and the triathlon has had to be postponed. This, after spending £1bn cleaning up the river so it could be used for the Games and afterwards by Parisians.

Fortunately, her enthusiasm and that of Macron have not been dampened. Hidalgo is proposing adorning the Eiffel Tower permanently with the five rings. She also hopes a hugely popular hot air balloon tethered to the Olympic cauldron will find a permanent home in Paris, as could the statues of 10 French women that were part of the opening ceremony.

“We should explore possibilities for these three symbols,” Hidalgo said. “These three artistic, symbolic and magnificent objects deserve our full attention.” It’s no surprise. The Olympics has that effect on people.

The%20specs%20
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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Griselda
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ARGENTINA SQUAD

Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez

SPECS
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PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Kamindu Mendis bio

Full name: Pasqual Handi Kamindu Dilanka Mendis

Born: September 30, 1998

Age: 20 years and 26 days

Nationality: Sri Lankan

Major teams Sri Lanka's Under 19 team

Batting style: Left-hander

Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)

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.”

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While you're here
Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

Book%20Details
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COMPANY%20PROFILE
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Famous left-handers

- Marie Curie

- Jimi Hendrix

- Leonardo Di Vinci

- David Bowie

- Paul McCartney

- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Specs

Engine: 51.5kW electric motor

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Updated: July 31, 2024, 7:53 AM