Mohamad Adil got the hosts off to a flying start with a first-round knockout victory on the opening day of the 2022 IFMA World Muaythai World Championship for seniors and youth.
He made short work of Aymric le Bon of Mauritius in the 54kg weight to advance into the second round of the week-long championships at the Abu Dhabi International Exhibition Centre on Saturday.
“I was very fortunate the fight ended quickly because this is a long championships with three more fights left to reach the medal round,” Adil said after his victory.
“I was following my coach’s instructions, waiting for the opportunities to strike, and it came when he tried to grab me, which dropped his guard that gave me the chance to knock him out.”
Adil, 22, is appearing in the Youth Worlds for the second time after Bangkok in 2021.
“I couldn’t go the full distance on that occasion but obviously my goal is to reach the medal round this time,” he added.
“There is still a lot of work left for that, though. My focus is on the next opponent and I wish I can be successful again.
“As a team of 18 squad we have all been preparing for this championships. We had a 45-day camp and want to give our best to win a few medals for the country.”
Aldo earning second round tickets in the Youth Worlds were Aldrich Toralba of the Philippines in the men’s event and Kantiya Panoram of Thailand in the women’s.
Toralba, 19, who won silver at the Asian Championships in Abu Dhabi in 2019, triumphed on points over Amrith Krishna of India.
“It was a hard first round but I’m glad to come out of it with a win,” Toralba, appearing in his second Youth Worlds, said.
“The last Youth Worlds was an experience and this time the objective obviously is to reach the medal round, and to reach that point, I have to go through three more fights. Hopefully I can get there.”
Panoram, 18, is also making her second appearance at the same level and hopes to progress to the medal round.
“It was a tough first round and that’s what you expect at that level,” Panoram said after a unanimous decision over Stefania Zoi Pappa of Greece.
“I have been practicing Muaythai from the age of 12 and it’s something that I really enjoy. Nowadays I have to divide sport and studies, and this time I want to return with a medal. Hopefully.”
The championship in Abu Dhabi will be the first in the qualification series of the World Combat Games 2023 in Riyadh with the gold medal winners earning direct tickets, while the losing finalists gain valuable qualification points.
The championship has drawn more than 600 fighters from more than 100 countries in both the open and U23 (Youth) championships for men and women.
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
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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.”
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COMPANY%20PROFILE
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The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press
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UAE currency: the story behind the money in your pockets
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.
