Tyson Fury could be next in Saudi Arabia for winner of Usyk-Joshua showdown


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Oleksandr Usyk could get used to boxing in Saudi Arabia because according to insiders the winner of Saturday’s heavyweight title fight in Jeddah has already agreed to face Tyson Fury for the undisputed title there next year.

Usyk defends the WBA, WBO and IBF titles against Anthony Joshua, who he took them from last year. And while Fury, the WBC champion, has claimed he has retired, no one really believes him.

Least of all Derek Chisora, the London heavyweight, who lost to Fury in 2011 and 2014. Fury has been claiming that he offered Chisora £2 million for a third fight, something Chisora has denied, but the Londoner, who is managed by Joshua's company 258 Management and has a reputation for blurting out sensitive information, claims Fury already has a deal with Saturday’s winner.

“The Saudis have a two-fight deal with AJ, Usyk and Fury,” Chisora said. “This and then the winner fights Fury for undisputed.”

So, when the Ukrainian started his speech at Wednesday’s press conference by saying it was his third time there and he hoped to come back again, he probably had the Fury fight in mind.

Usyk first came to Jeddah in 2018 when he was due to face Murat Gassiev to unify the world cruiserweight title, although that fight was moved to Moscow after Usyk was injured. But he had been out for the launch and did likewise for this fight before returning for the real business last week.

Usyk, who had dressed like The Joker in the build-up to his first meeting with Joshua in London, came in full Cossack costume for Wednesday’s head-to-head at the Shangri-La hotel beside the Red Sea to show his warrior side.

But while the first fight, last September at the Tottenham Hotspur Stadium, ended with Joshua under heavy bombardment, Usyk doesn’t feel like he will be starting from the beginning this time.

Usyk beats Joshua

“I don’t think it’s going to be a new bout,” Usyk said. “The last bout will be continued, round 13, round 14, round 15, however long the fight will last.

“We learnt about each other in the first fight. He learnt about me and I learnt about him. We have had enough time to study each other and on Saturday night, it will be a great, great fight.”

It is not the first time that Usyk has called up his Cossack ancestry – when he won World Amateur gold and Olympic gold in 2011 and 2012, he even followed his win with a traditional dance. He also finished the press conference in Jeddah by belting out a patriotic Ukrainian song, along with members of his team, honouring those fighting against the Russians at home.

“This fight is very important for me, my team and my country,” he said. “We were born to compete for life, for belts, for everything.

“The one who does not compete does not live. All our lives are competitions for anything, for something for everybody. That’s why we are competing.”

Joshua came close to admitting his career might be on the line when he spoke.

“It’s a massive must-win,” he said. “I like the pressure. It’s been tough. Robert Garcia and Angel Fernandez (his trainers) and the rest of the team have pushed me and challenged me.

“It’s about staying focused and getting the job done and God willing, I will be victorious.”

Joshua said he was not concerned about his old belts, he just wants to beat Usyk.

“Competition is key,” he said. “You set a goal and I have goals I want to achieve on the night and I’m going to be disciplined in following them through.

“So, yeah, that’s competition with myself. The belts mean something, but that comes at the end of the process and I’m not going to skip the process.”

Kandahar%20
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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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Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

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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”.

Stage result

1. Jasper Philipsen (Bel) Alpecin-Fenix 4:42:34

2. Sam Bennett (Irl) Bora-Hansgrohe

3. Elia Viviani (Ita) Ineos Grenadiers

4. Dylan Groenewegen (Ned) BikeExchange-Jayco

5. Emils Liepins (Lat) Trek-Segafredo

6. Arnaud Demare (Fra) Groupama-FDJ

7. Max Kanter (Ger) Movistar Team

8. Olav Kooij (Ned) Jumbo-Visma

9. Tom Devriendt (Bel) Intermarché-Wanty-Gobert Matériaux

10. Pascal Ackermann (Ger) UAE Team Emirate

The bio

Favourite book: The Alchemist by Paulo Coelho

Favourite travel destination: Maldives and south of France

Favourite pastime: Family and friends, meditation, discovering new cuisines

Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.

Favourite Author: My father for sure

Favourite Artist: Damien Hurst

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Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Profile of Hala Insurance

Date Started: September 2018

Founders: Walid and Karim Dib

Based: Abu Dhabi

Employees: Nine

Amount raised: $1.2 million

Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers

 

Company%20Profile
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The biog

Name: James Mullan

Nationality: Irish

Family: Wife, Pom; and daughters Kate, 18, and Ciara, 13, who attend Jumeirah English Speaking School (JESS)

Favourite book or author: “That’s a really difficult question. I’m a big fan of Donna Tartt, The Secret History. I’d recommend that, go and have a read of that.”

Dream: “It would be to continue to have fun and to work with really interesting people, which I have been very fortunate to do for a lot of my life. I just enjoy working with very smart, fun people.”

SPECS
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Name: JustClean

Based: Kuwait with offices in other GCC countries

Launch year: 2016

Number of employees: 130

Sector: online laundry service

Funding: $12.9m from Kuwait-based Faith Capital Holding

The Vile

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Red card: Jack Stephens (Southampton)

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Which honey takes your fancy?

Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

Sidr Honey

The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest

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The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments

Updated: August 18, 2022, 6:20 AM