Simone Biles holds up her medals won at the Paris Olympics. AP
Simone Biles holds up her medals won at the Paris Olympics. AP
Simone Biles holds up her medals won at the Paris Olympics. AP
Simone Biles holds up her medals won at the Paris Olympics. AP

Simone Biles ends great Paris Olympics campaign with floor exercise silver after beam fall


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Simone Biles' hopes of winning a fourth Olympics gold fell just short on Monday as she stepped out of bounds twice during her floor routine to take silver, having earlier fallen off the balance beam.

Biles suffered a shock defeat in the floor exercise final as two costly errors allowed Brazil's Rebeca Andrade to snatch an unexpected gold. American Jordan Chiles claimed bronze.

Biles was heavily favoured coming into the final given the difficulty of her high-flying routine but landed with two feet out of bounds on two of her four tumbling passes.

She paid a heavy price for those mistakes as the deductions she incurred denied her what would have been her fourth gold medal of these Games.

The final day of the artistic gymnastics programme did not end the way Biles would have wanted as she also suffered disappointment in the balance beam final, finishing fifth after slipping off that apparatus.

Despite the less than ideal finale, the Paris Games still mark a triumphant comeback for the 27-year-old Biles.

Biles went into the final day of competition with a chance to push her tally of Paris golds to a record-setting five in one Games.

She had already led the USA to team gold and regained the all-around crown she first won as part of a four-gold haul in Rio in 2016.

She soared to the vault title with a stellar rendition of her signature Yurchenko double pike vault to take her career tally of Olympic golds to seven.

But she couldn't find her way back to the top of the podium on Monday.

Her earlier fall from the beam – one of several in the final – was the first major misstep of her thrilling Olympic return, three years after a bout of the disorientating "twisties" cut short her Tokyo Games campaign.

Biles finished fifth in beam, where Alice D'Amato became the first Italian woman gymnast to claim Olympic gold with a score of 14.366.

Teammate Manila Esposito joined D'Amato on the podium in third, with China's Zhou Yuqin taking silver.

Simone Biles fell off the balance beam at the Bercy Arena. Getty Images
Simone Biles fell off the balance beam at the Bercy Arena. Getty Images

The treacherous nature of the 10cm-wide beam was clear when the first three starters made mistakes.

China's world silver medallist Zhou lost her balance and had to grab the beam to avoid coming off.

American medal contender Sunisa Lee took a hard fall on to the beam when her foot slipped at the end of an aerial series. Brazilian Julia Suarez also fell and Romanian Sabrina Maneca-Voinea fell twice.

D'Amato had a couple of minor wobbles in an otherwise impeccable routine to seize first place just before Biles competed.

The US superstar made a confident start. But she slipped off on an aerial series, drawing a collective gasp from the crowd.

Lee said she and Biles were both put off by crowd members trying to quiet others who were cheering during the beam competition – including competitors trying to encourage their teammates.

"You could feel the tension in the room," Lee said. "Me and Simone were like, 'Why are they shushing?'

"She came off, and she was like 'I don't know why they were shushing in the middle of my routine'."

Meanwhile, China's Zhang Yufei has said she would like to take a break from swimming after ending her Paris Games with six medals to become her country's most decorated Olympic swimmer.

The 26-year-old claimed a bronze in the 50m freestyle and 4x100m medley relay to take her career tally to 10 over the Tokyo and Paris Olympics after coming home empty-handed from her debut in Rio.

"This is my third Olympics," Zhang said. "I've spent 12 years fully concentrated on swimming and never tried anything else. After this Olympics I'd like to experience other aspects in life."

Zhang won three other bronze medals in 100m and 200m butterfly and the 4x100m freestyle relay. She also won silver in the mixed 4x100m medley relay.

"If you look at my times in the individual races, they weren't that good," Zhang said. "That considered I still won six medals. For me personally that was already a huge breakthrough. I feel especially proud of myself."

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Why the Tourist Club?

Originally, The Club (which many people chose to call the “British Club”) was the only place where one could use the beach with changing rooms and a shower, and get refreshments.

In the early 1970s, the Government of Abu Dhabi wanted to give more people a place to get together on the beach, with some facilities for children. The place chosen was where the annual boat race was held, which Sheikh Zayed always attended and which brought crowds of locals and expatriates to the stretch of beach to the left of Le Méridien and the Marina.

It started with a round two-storey building, erected in about two weeks by Orient Contracting for Sheikh Zayed to use at one these races. Soon many facilities were planned and built, and members were invited to join.

Why it was called “Nadi Al Siyahi” is beyond me. But it is likely that one wanted to convey the idea that this was open to all comers. Because there was no danger of encountering alcohol on the premises, unlike at The Club, it was a place in particular for the many Arab expatriate civil servants to join. Initially the fees were very low and membership was offered free to many people, too.

Eventually there was a skating rink, bowling and many other amusements.

Frauke Heard-Bey is a historian and has lived in Abu Dhabi since 1968.

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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Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
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Schedule for Asia Cup

Sept 15: Bangladesh v Sri Lanka (Dubai)

Sept 16: Pakistan v Qualifier (Dubai)

Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)

Sept 18: India v Qualifier (Dubai)

Sept 19: India v Pakistan (Dubai)

Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four

Sept 21: Group A Winner v Group B Runner-up (Dubai) 

Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)

Sept 23: Group A Winner v Group A Runner-up (Dubai)

Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)

Sept 25: Group A Winner v Group B Winner (Dubai)

Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)

Sept 28: Final (Dubai)

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THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

Updated: August 05, 2024, 4:16 PM