Jari-Matti Latvala , who had been slowed earlier by food poisoning, speeding into third place yesterday in the Rally Finland.
Jari-Matti Latvala , who had been slowed earlier by food poisoning, speeding into third place yesterday in the Rally Finland.

Other Sport

Hirvonen poised for home glory

The BP Ford Abu Dhabi driver has a 32-second lead over the Citroen of Sebastien Loeb to take into today's final four stages of the event.

Graham Caygill

02 August, 2009

JYVASKYLA, FINLAND // A string of scintillating stage times in yesterday's second leg of the Rally Finland have put the championship leader, Mikko Hirvonen, on the verge of winning his home rally for the first time in his career. The BP Ford Abu Dhabi driver has a 32-second lead over the Citroen of Sebastien Loeb to take into today's final four stages of the event.

The Finn, who will extend his lead in the world championship by at least two points if he triumphs today, had a strong start to yesterday's action, plus a puncture for Loeb on stage 15, to thank for allowing him to create a sizeable advantage. But despite having some breathing space, Hirvonen is not taking anything for granted going in today's action. "His puncture has taken the pressure off a little, but the lead isn't enough for me to relax," he said.

The Finn had led Loeb by only 3.3secs going into yesterday's nine stages and a titanic struggle between the top two in the championship, who were separated by just one point going into the event, had looked likely. But Hirvonen dominated from the start as he set the quickest time on the first five stages of the day to effectively end Loeb's challenge for his second successive victory in Finland. The reigning world champion had fallen 12.5secs behind Hirvonen after stage 14, but then lost 13.5secs on stage 15 as he suffered a puncture when his car hit a pot hole.

Having lost so much time to his rival, the Frenchman effectively held up the white flag as he admitted he was driving for second place to minimise the damage to his hopes of winning a sixth successive championship. "We lost too much time with the tyre," he said. "Mikko is too fast. We're driving to get to the finish now." While the fight for victory looks to be all over barring mechanical problems for Hirvonen, the fight for the final place on the podium looks likely to go down to the wire.

The second BP Ford Abu Dhabi car of Jari-Matti Latvala holds a slender 10.5secs advantage over Dani Sordo's Citroen. The Finn had struggled early on as he recovered from food poisoning, but he soon was back up to speed and the fastest time on stage 16 saw him take seven seconds out of Sordo to leapfrog the Spaniard and into third place. Latvala said: "In my mind I was counting on fighting back when I felt better, and now I do. It's been a big fight with Dani so far and I know he'll fight back - now we have to keep the position."

Meanwhile, the Formula One driver Kimi Raikkonen continued to make an impressive World Rally Championship debut, as he finished the day in 15th place. The Ferrari driver has impressed with his speed, but he is suffering from an engine problem as well as minor suspension damage in his Fiat, which is threatening to curtail his involvement before today's climax. gcaygill@thenational.ae

The bio

Favourite food: Japanese

Favourite car: Lamborghini

Favourite hobby: Football

Favourite quote: If your dreams don’t scare you, they are not big enough

Favourite country: UAE

CREW

Director: Rajesh A Krishnan

Starring: Tabu, Kareena Kapoor Khan, Kriti Sanon

Rating: 3.5/5

Traits of Chinese zodiac animals

Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent  

Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
The specs: 2018 Maserati Ghibli

Price, base / as tested: Dh269,000 / Dh369,000

Engine: 3.0-litre twin-turbocharged V6

Transmission: Eight-speed automatic

Power: 355hp @ 5,500rpm

Torque: 500Nm @ 4,500rpm

Fuel economy, combined: 8.9L / 100km

More from this package

Padmaavat

Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5

Explained
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

More from Neighbourhood Watch:
Top 10 most competitive economies

1. Singapore
2. Switzerland
3. Denmark
4. Ireland
5. Hong Kong
6. Sweden
7. UAE
8. Taiwan
9. Netherlands
10. Norway

Scores

New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs 

New Zealand win by 47 runs

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

Five expert hiking tips
  • Always check the weather forecast before setting off
  • Make sure you have plenty of water
  • Set off early to avoid sudden weather changes in the afternoon
  • Wear appropriate clothing and footwear
  • Take your litter home with you
SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

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.”

If you go

There are regular flights from Dubai to Kathmandu. Fares with Air Arabia and flydubai start at Dh1,265.
In Kathmandu, rooms at the Oasis Kathmandu Hotel start at Dh195 and Dh120 at Hotel Ganesh Himal.
Third Rock Adventures offers professionally run group and individual treks and tours using highly experienced guides throughout Nepal, Bhutan and other parts of the Himalayas.

The low down on MPS

What is myofascial pain syndrome?

Myofascial pain syndrome refers to pain and inflammation in the body’s soft tissue. MPS is a chronic condition that affects the fascia (­connective tissue that covers the muscles, which develops knots, also known as trigger points).

What are trigger points?

Trigger points are irritable knots in the soft ­tissue that covers muscle tissue. Through injury or overuse, muscle fibres contract as a reactive and protective measure, creating tension in the form of hard and, palpable nodules. Overuse and ­sustained posture are the main culprits in developing ­trigger points.

What is myofascial or trigger-point release?

Releasing these nodules requires a hands-on technique that involves applying gentle ­sustained pressure to release muscular shortness and tightness. This eliminates restrictions in ­connective tissue in orderto restore motion and alleviate pain. ­Therapy balls have proven effective at causing enough commotion in the tissue, prompting the release of these hard knots.