Above, members of the Ferrari Owners Club UAE gather yesterday morning before setting off in a convoy to the Yas Marina Circuit.
Above, members of the Ferrari Owners Club UAE gather yesterday morning before setting off in a convoy to the Yas Marina Circuit.
Above, members of the Ferrari Owners Club UAE gather yesterday morning before setting off in a convoy to the Yas Marina Circuit.
Above, members of the Ferrari Owners Club UAE gather yesterday morning before setting off in a convoy to the Yas Marina Circuit.

No ticket needed to join F1 revelry on the Corniche


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If you do not have a ticket for the Grand Prix, a good second-best vantage point for watching the race is the F1 FanZone on the Corniche. And it has one very big advantage: It is free. Thousands of fans gathered at the beachside attraction yesterday to watch the action on giant screens. Gary Simpson, a 52-year-old civil engineer from England, said he was at the Corniche because he did not have a ticket to Yas Island.

He said he would like to come back to the beach throughout the race weekend, especially the Grand Prix tomorrow. "I'd definitely come and watch it from here, if I can get away from work. "The facility looks impressive, really," he said. "I am not a big fan of Formula One but I take an interest." Salem al Kaabi, a 40-year-old Emirati who works for Injazat, has a ticket to the race. He came to the FanZone so his children could see it and "spend the evening at the Corniche".

"I would not take the children to the circuit. My brother just called and told me he had to plug his ear because the noise of the engines was so loud," he said. "Also, tickets for children [cost] the same as adult ones." He said FanZone would promote Formula One by giving those who cannot make it to Yas Island a chance to see the races and experience the excitement. That option should have been available to even more people, he said.

"They should have done the same in Al Ain and also the other emirates. It should have been across the country, because this would make Formula One more popular." Houssam Mahmoud, a 35-year-old English teacher from Egypt, came to Abu Dhabi with two friends for the race. He said he was in Al Wahda Mall and decided to come to the Corniche to watch practice. Mr Mahmoud said he and his friends had tickets and would attend tomorrow's race.

"We also heard there would be Ragheb Alama [the Lebanese singer] singing tonight. We are mostly interested to see the latest cars and the different kinds of them, and to see the skills of the drivers." Moataz Fanous, a 34-year-old Palestinian lawyer, enjoyed the festive atmosphere at the FanZone. "I am here because it is great to see the people of the world in Abu Dhabi. I will watch it from here every day," he said.

Other fans took in the action in hotel bars yesterday, eyes fixed on televisions. Hemingway's bar at the Hilton Hotel is in partnership with the McLaren team. It has a special décor for the race, with chequered flags and white-painted tyres. British fan Brian Sherras, a 52-year-old who works in the construction sector, does not have tickets to the race. He was leafing through a pile of racing magazines as he asked for the practice commentary on the bar's television to be turned up.

"I travel a lot all over the world on business, and when I can route my way around I try to see the race," he said. "I look for a place with a big buzz." Three friends at the bar were getting into Grand Prix fever. One of them, Nouvriet Boutros, a 43-year-old chief strategy officer from the US, has VIP access because her husband works for Ferrari. "It was mind-boggling that [not long] ago, it was all dirt," she said.

"Then last Saturday, we were on the track and it just blew my mind. Amazing how Abu Dhabi gets things done, there's no place like it in the world for this kind of thing." mkwong@thenational.ae hhassan@thenational.ae

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Mobile phone packages comparison
Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

RESULT

Huddersfield Town 2 Manchester United 1
Huddersfield: Mooy (28'), Depoitre (33')
Manchester United: Rashford (78')

 

Man of the Match: Aaron Mooy (Huddersfield Town)

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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.”