Tendulkar flies the flag



In the week since Sachin Tendulkar waved the chequered flag for Sebastian Vettel at the first Indian Grand Prix, debate has raged over Formula One's place in the Indian sporting firmament.

Several million, including the 95,000 who made the journey to the Buddh International Circuit on the outskirts of New Delhi, are thrilled that the country has finally found a place on the motorsport map.

Others, who decry F1 as an elitist sport, wonder why the two billion rupees (Dh149.7 million) that was spent on the circuit wasn't utilised for something more worthwhile.

If recent events are any guide, though, the F1 race is only the beginning. Motorsport, whether it be cars or bikes, has always sought pastures new.

The developing nations of Asia are fertile ground, with huge captive TV audiences and corporations eager for exposure on the world stage.

In India, the success of Indian Premier League (IPL) cricket has opened many people's eyes to the possibilities that involvement in sport offers.

In just over two months, Abu Dhabi's Yas Marina Circuit will host the first two races of the i1 Super Series, with 18 cars lining up on the grid.

Tendulkar may be in Australia with the Indian cricket team, but his absence at the finish line won't detract from the spectacle. This time, he won't be a fan. He is one of the investors, owning a 26 per cent share in the league, along with Anjana Reddy.

His involvement with the Mumbai Indians in the IPL has seen thousands of blue No 10 jerseys sold, and his backing for this racing endeavour has been enough to convince some of India's rich and famous to put their money into it.

Vijay Mallya, who owns the Force India team that has improved so rapidly on the F1 grid, is a notable absentee, but several others who have also staked some of their fortunes on the IPL will be part of the i1 Super Series.

Given how fans bought into the city-based franchise model for the IPL, motorsport is looking to replicate the same formula. There will be nine teams based in Indian cities, with two cars on each team, and the season that begins on January 8 and ends on February 26 will see 12 races, two on each weekend.

The Buddh circuit will play host twice, with Abu Dhabi, Malaysia, Bahrain and Qatar the other venues. Given the number of expatriate Indians in each of those territories, the series is likely to generate considerable interest.

Organised by Machdar Motorsports, the i1 series will use the Radical SR3 chassis, which weighs 570kg and is an open-top car that can reach a top speed of 250kph. Each team will have three drivers, one of them a non-Indian.

Unlike the IPL, which auctioned off the original eight franchises - the Mumbai Indians were the most expensive at US$111.9m (Dh411m) - these teams, costing around $20m each, have been put together by invitation.

There is no lack of stardust, however, with Shah Rukh Khan, one of the kings of the Bollywood box office and the Kolkata Knight Riders owner, said to be part of the Mumbai franchise.

Mohit Burman, who has a stake in the IPL's Kings XI Punjab, has invested in the Delhi team, while Tony Fernandes, whose sporting involvement includes F1's Team Lotus and Queens Park Rangers in the English Premier League, is one of the backers for the Chennai team.

The cricketing angle isn't restricted to Tendulkar, with Sourav Ganguly said to be involved in the Kolkata franchise and Yuvraj Singh investing in the Chandigarh team. With a broadcast deal already arranged with Ten Sports, the project has no shortage of backing. Tendulkar, who was once gifted a Ferrari when a brand ambassador for Fiat, is central to its success, though. In many people's eyes, his involvement gives the enterprise the sheen of legitimacy, and if he manages to make it to any of the races, it will attract quite a few extra fans.

Most of all, this is a wonderful opportunity for young Indian driving talent to push for the big time. Narain Karthikeyan raced in Delhi last Sunday, but was a backmarker, while Lotus didn't even give Karun Chandhok a ride.

For them, and others like Armaan Ebrahim, rated the best young prospect in India, it's a chance to show off their skills in front of big crowds and a sizeable TV audience.

With World Series Hockey - a city-based competition that will feature more than 100 international stars - also scheduled to start next month, these are exciting times for Indian sport.

The emergence of these alternate activities, after years of shoestring budgets for anything that wasn't cricket, are sure signs that urban India is ready to move on from its one-sport obsession.

The stars will be there in force at Yas Marina. It's now down to India's racers to show that they deserve their moments in the sun.

More motorsport, s12

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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

COMPANY%20PROFILE
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The Gentlemen

Director: Guy Ritchie

Stars: Colin Farrell, Hugh Grant 

Three out of five stars

TO ALL THE BOYS: ALWAYS AND FOREVER

Directed by: Michael Fimognari

Starring: Lana Condor and Noah Centineo

Two stars

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COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

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NATIONAL%20SELECTIONS
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Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

FIXTURES

December 28
Stan Wawrinka v Pablo Carreno Busta, 5pm
Milos Raonic v Dominic Thiem, no earlier then 7pm

December 29 - semi-finals
Rafael Nadal v Stan Wawrinka / Pablo Carreno Busta, 5pm
Novak Djokovic v Milos Raonic / Dominic Thiem, no earlier then 7pm

December 30
3rd/4th place play-off, 5pm
Final, 7pm

Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

UAE%20medallists%20at%20Asian%20Games%202023
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Simran

Director Hansal Mehta

Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey

Three stars

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The%C2%A0specs%20
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Porsche Macan T: The Specs

Engine: 2.0-litre 4-cyl turbo 

Power: 265hp from 5,000-6,500rpm 

Torque: 400Nm from 1,800-4,500rpm 

Transmission: 7-speed dual-clutch auto 

Speed: 0-100kph in 6.2sec 

Top speed: 232kph 

Fuel consumption: 10.7L/100km 

On sale: May or June 

Price: From Dh259,900  

ACL Elite (West) - fixtures

Monday, Sept 30

Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)

Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)

if you go

The flights
Flydubai offers three daily direct flights to Sarajevo and, from June, a daily flight from Thessaloniki from Dubai. A return flight costs from Dhs1,905 including taxes.
The trip 
The Travel Scientists are the organisers of the Balkan Ride and several other rallies around the world. The 2018 running of this particular adventure will take place from August 3-11, once again starting in Sarajevo and ending a week later in Thessaloniki. If you’re driving your own vehicle, then entry start from €880 (Dhs 3,900) per person including all accommodation along the route. Contact the Travel Scientists if you wish to hire one of their vehicles. 

Dr Graham's three goals

Short term

Establish logistics and systems needed to globally deploy vaccines


Intermediate term

Build biomedical workforces in low- and middle-income nations


Long term

A prototype pathogen approach for pandemic preparedness