Jenson Button prepares to tackle the legendary Eau Rouge corner at the Spa-Francorchamps track during qualifying for last year's Belgian Grand Prix.
Jenson Button prepares to tackle the legendary Eau Rouge corner at the Spa-Francorchamps track during qualifying for last year's Belgian Grand Prix.

Tackling the tests of Spa



Spa-Francorchamps is one of the last great Formula One tracks still on the circuit and all the drivers will be relishing tackling it this weekend when the Belgian Grand Prix takes place. Sunday's race should be a cracker, not just because of the tight championship battle, which has the top five drivers separated by just 20 points, but because of the surroundings. Belgium always throws up a good race because it is a long track, full of high-speed twists which are a test of the car, but also has plenty of passing opportunities.

It also has a number of classic corners, led by Eau Rouge. The steep high-speed climb up the hill through Eau Rouge, which has a left to right kink, is one of the best corners in Formula One, and as a driver if you get it right it gives you a real buzz and sense of momentum. In my day you took Eau Rouge flat out and there was very little in the way of a run-off area. Obviously you did not want to make a mistake because if you went off there it would inevitably end up being a huge accident.

In 1993 Alex Zanardi, my teammate at Lotus, went off in practice there and he had a massive crash, wrecking the car and being ruled out of action for the rest of the season. In a way the danger of the corner made you concentrate more and made you fixate on getting it absolutely right. The rewards for getting through Eau Rouge are considerable as there is a long straight after the bend and if you get the corner right then you carry a serious amount of speed down that straight and that could get you a couple of tenths of a second off your lap time.

In a race that could allow you to get some momentum on the car in front and try and complete an overtaking move at the next turn. There is now a run-off area, which I saw the other week when I was there for the GT1 sportscar racing series. A lot of drivers were using the run-off area to compensate if they got the corner wrong and in the end the stewards had to start penalising them as it was diminishing the challenge of the track.

Of the other corners Pouhon is also fast and will test a driver's bravery, as will Blanchimont to a lesser extent after the redesign of the circuit. The other challenge at Spa is the mixed weather that the Ardennes Forest seems to nearly always provide. It can be wet one minute, dry the next and it can be a real challenge to make sure that you as the driver are on the right tyre at the right time.

But that is a skill that every driver should have and is part of what makes up being a Formula One driver. It is not just about driving fast, it is about using your brain, judging the conditions and what is around you and making the correct calls. We saw Jenson Button use his head in the wet in Australia at the start of the season, and the McLaren-Mercedes man was rewarded as he won the race. In 1997 it was very wet at Spa for the start of the race but it dried out after a very difficult opening few laps.

I managed to get my strategy right as I knew that the track would dry quickly because of the way it is laid out, and I was one of the first ones on slick tyres. I was not in the fastest car in the field in the Sauber that year, but I was able to finish fourth ahead of Jacques Villeneuve, who would go on to be world champion that year in the Williams. However, it did not always go my way when it rained in Belgium.

In 1998 there was a huge crash shortly after the start as the drivers struggled to see in the poor visibility caused by the spray that was being thrown up by the cars as they exited the first turn, the tight La Source hairpin. I was in the middle of the pack in the Stewart I was driving and thought I had managed to avoid it by being careful, and slowly moving around the debris that was going on around me.

But one of the wheels broke off David Coulthard's McLaren ahead of me, bounced up and landed on to my rear wing. The impact broke the wing and the rear suspension and I was forced to get out of the car, although the race was stopped anyway. You do need some fortune at Spa when it is like that and that year it did not go for me. Mixed weather is forecast for this weekend, particularly for qualifying, and it will be fascinating to see how the new generation of drivers handle it.

In the past confident drivers like Ayrton Senna, Michael Schumacher and Kimi Raikkonen have normally done well here, winning at Spa multiple times, and Mika Hakkinen also went well there. While the Red Bull-Renaults of Mark Webber and Sebastian Vettel will be competitive, I think Lewis Hamilton and Fernando Alonso will be the two who will have the ability to push the hardest and get the most out of their car.

They are the two most confident drivers and you need a lot of belief in yourself at Spa. Johnny Herbert is a former Formula One driver who completed in 161 races, winning three times sports@thenational.ae

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

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Price, base: Dh1,731,672

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Gearbox: Seven-speed automatic

Power: 770hp @ 8,500rpm

Torque: 720Nm @ 6,750rpm

Fuel economy: 19.6L / 100km

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Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now

The specs

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Financial considerations before buying a property

Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.

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Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier. 

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Company name: Namara
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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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MATCH INFO:

Second Test

Pakistan v Australia, Tuesday-Saturday, 10am​​ daily​​​​​ at Zayed Cricket Stadium, Abu Dhabi

Entrance is free

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

About Krews

Founder: Ahmed Al Qubaisi

Based: Abu Dhabi

Founded: January 2019

Number of employees: 10

Sector: Technology/Social media 

Funding to date: Estimated $300,000 from Hub71 in-kind support

 

The specs

Engine: 2.0-litre four-cylinder turbo

Power: 178hp at 5,500rpm

Torque: 280Nm at 1,350-4,200rpm

Transmission: seven-speed dual-clutch auto

Price: from Dh209,000 

On sale: now

The specs: 2019 BMW i8 Roadster

Price, base: Dh708,750

Engine: 1.5L three-cylinder petrol, plus 11.6 kWh lithium-ion battery

Transmission: Six-speed automatic

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Torque: 570Nm (total)

Fuel economy, combined: 2.0L / 100km

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Hydrogen: Market potential

Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.

"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.

Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.

The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)