Sebastian Vettel tries to control his damaged car after his collision with Jenson Button during Sunday's Belgian Grand Prix.
Sebastian Vettel tries to control his damaged car after his collision with Jenson Button during Sunday's Belgian Grand Prix.
Sebastian Vettel tries to control his damaged car after his collision with Jenson Button during Sunday's Belgian Grand Prix.
Sebastian Vettel tries to control his damaged car after his collision with Jenson Button during Sunday's Belgian Grand Prix.

Time running out for Vettel


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  • Arabic

Sebastian Vettel is in danger of losing his way in the championship race as his inexperience is starting to show. This year he was seen as a serious contender from the off but he has struggled with the role and the limelight. Two things have gone against the young German. Fortune has not been kind to him, and he has struggled to cope with the improved pace of Mark Webber, his Red Bull teammate, who has really raised his game this year.

Vettel had a miserable race in Belgium, colliding with Jenson Button's McLaren-Mercedes and later with Vitantonio Liuzzi's Force India. It was a case of Vettel trying to force the situation. With a more experienced head on his shoulders, he would have been wiser to show patience and wait to see how the race developed. Instead he threw away the chance of at least 15 points and scored nothing. What we saw on Sunday was a young man trying too hard and possibly over driving.

Vettel has had a strange season. He is in the fastest car in the field, has taken seven pole position, yet is now a distant third in the championship. He has missed out on a lot of points, having won only twice in the 13 races so far. He is still learning and this is a new experience for him, but he is learning the hard way and needs to realise you cannot afford many mistakes if you are to be the world champion.

This is genuinely the first time that he has had to deal with these high expectation and I think that has played a part in how his season has panned out. When he won his first race, back in 2008 in Italy, it was as an underdog with the Toro Rosso team. Last year Red Bull were the upcoming team who surprised everyone with their competitiveness and he was the fastest man in the team. However, it is important to say that it has not all been his fault this time round. He has suffered bad luck with unreliability and lost out on victories in the first two races in Bahrain and Australia because of that. I think still think he can be champion this year, but it is going to be very tough for him.

He had been running third in Belgium when he collided with Button. His attempted pass was clumsy and he said afterwards that he had misjudged where Button was going to brake and changed direction to try and avoid him. Instead he lost control and smacked into the side of the McLaren, forcing Jenson out and putting a serious dent in his dreams of retaining the title. Vettel was very honest about his driving afterwards and we need to remember that he is considerably younger than his rivals, He only 23 and this is just his third full season in the series.

However, this and his other mistakes pushed him back to 15th where he finished out of the points and he is now 31 adrift of Lewis Hamilton in the championship, with six races to go. He still has time to get it back into the title race but he cannot afford to make any more costly errors. He could also be in danger of being asked to assist Webber if he does not improve in the next couple of races. The Australian has on occasions out-raced and out-qualified his younger teammate, and judging by Vettel's mistakes it is not something he has taken well.

It reminds me of the 2007 season when Fernando Alonso cracked when he had Hamilton as his teammate at McLaren. The Spaniard was a double world champion, but he could not handle being beaten by the British rookie, and eventually the partnership fragmented with Alonso forced to return to Renault. If the scenario does open up in two or three races time that Vettle is asked to help Webber's title challenge should the Australian still have a reasonable points advantage over him, then I am sure it will be difficult for him to take.

But I am sure he will do what the team asks and it will be another experience from which he could learn. Webber drove a solid, uneventful race in Belgium, and took advantage of the collision between his teammate and Button to finish second and take 18 points putting him just three points behind Hamilton. Johnny Herbert is a former Formula One driver who completed in 161 races, winning three times

sports@thenational.ae

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.”

The specs: 2018 BMW X2 and X3

Price, as tested: Dh255,150 (X2); Dh383,250 (X3)

Engine: 2.0-litre turbocharged inline four-cylinder (X2); 3.0-litre twin-turbo inline six-cylinder (X3)

Power 192hp @ 5,000rpm (X2); 355hp @ 5,500rpm (X3)

Torque: 280Nm @ 1,350rpm (X2); 500Nm @ 1,520rpm (X3)

Transmission: Seven-speed automatic (X2); Eight-speed automatic (X3)

Fuel consumption, combined: 5.7L / 100km (X2); 8.3L / 100km (X3)

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A new relationship with the old country

Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates

The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:

ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.

ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.

ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.

ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.

IN WITNESS WHEREOF the undersigned have signed this Treaty.

DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.

Signed

Geoffrey Arthur  Sheikh Zayed

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SPECS
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Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5