Abdullah Aljneibi, bottom, of the Al Jazira Jiu-Jitsu club, checks the remaining time while keeping a tight hold on his opponent from UAE JJF Training Center, during their match in the first leg of the inaugural President's Cup, an open competition for clubs. The event was held at the Ipic Arena at Zayed Sports City in Abu Dhabi on Saturday, August 27, 2016. Aljneibi won the match. Delores Johnson / The National
Abdullah Aljneibi, bottom, of the Al Jazira Jiu-Jitsu club, checks the remaining time while keeping a tight hold on his opponent from UAE JJF Training Center, during their match in the first leg of thShow more

UAE jiu-jitsu chief confident team ‘will demonstrate a very high skill level’ at Abu Dhabi Grand Slam Los Angeles



With the UAE jiu-jitsu first team preparing for the fifth Asian Beach Games in Vietnam in three weeks' time, the second stringers have been provided with the opportunity to compete at the Abu Dhabi Grand Slam in Los Angeles.

The UAE will be represented by an 11-member squad in a competition that has drawn nearly 1,000 entries from across the world at the LA Convention Centre on Saturday and Sunday.

See more on jiu-jitsu from Amith Passela:

• President's Cup: Al Ain begin UAE jiu-jitsu season on a high

• Pictures: President's Cup kicks off the UAE jiu-jitsu season at Ipic Arena

• Asian Beach Games: President's Cup will give UAE national team a good warm-up

The UAE returned with a haul of eight gold, two silver and two bronze medals from the Grand Slam Los Angeles last year and would be hoping for a similar return this year despite travelling with a second-string team.

Abdulmunam Al Hashemi, chairman of the UAE Jiu-Jitsu Federation, is confident of a good showing but said even if the medal tally is down on last year the experience gained by the UAE contingent would be invaluable.

“We are extremely proud of our national team who have put in extensive work and dedication to raise the bar of the local jiu-jitsu scene in a global arena,” he said.

“Today, the Grand Slam proves to be the most prestigious jiu-jitsu championship series in the world and is an ideal platform for the UAE team to evolve and secure a commendable position in the global ranking.

“We are confident that our national team will demonstrate a very high skill level and supreme professionalism underscoring Abu Dhabi’s aim to become the jiu-jitsu capital in the world.”

The first leg of the Grand Slam has a prize purse of over US$100,000 (Dh367,270). The black belt adult winners will also receive complimentary flight tickets to the Grand Slam Abu Dhabi in January 2017.

The winner in the respective weight categories of the Abu Dhabi Grand Slam will receive 200 points with the runner up 160 and the third-place 120. The player with the highest ranking points at the end of the season will be the world No 1.

The UAE national team:

Adults Team (blue belt)

• Naser Al Braiki [69kg]

• Saeed Al Shamsi [69kg]

• Saif Al Qubaisi [77kg]

Juvenile team (blue belt)

• Mohammed Abdulla Al Darmaki [46kg]

• Hamad Mohammed Ali Nawad [50kg]

• Khaled Eskander [55kg]

• Omar Al Fadhli [55kg]

• Humaid Yasser Al Kaabi [66kg]

• Khalifa Saeed Hasan [50kg]

• Ahmed Bader Al Rajaibi [60kg]

Purple belt

• Ibrahim Al Hosani [69kg]

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Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

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Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

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Where: du Arena, Abu Dhabi

When: Saturday November 24

Rating: 4/5

Friday's schedule in Madrid

Men's quarter-finals

Novak Djokivic (1) v Marin Cilic (9) from 2pm UAE time

Roger Federer (4) v Dominic Thiem (5) from 7pm

Stefanos Tsitsipas (8) v Alexander Zverev (3) from 9.30pm

Stan Wawrinka v Rafael Nadal (2) from 11.30pm

Women's semi-finals

Belinda Bencic v Simona Halep (3) from 4.30pm

Sloane Stephens (8) v Kiki Bertens (7) from 10pm

TOURNAMENT INFO

2018 ICC World Twenty20 Asian Western Regional Qualifier
The top three teams progress to the Asia Qualifier

Thursday results
UAE beat Kuwait by 86 runs
Qatar beat Bahrain by five wickets
Saudi Arabia beat Maldives by 35 runs

Friday fixtures
10am, third-place playoff – Saudi Arabia v Kuwait
3pm, final – UAE v Qatar

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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Started: March 2018
Founders: Mohamed Khashaba, Mohamed Abdallah, Mohamed Adel Wafiq and Ayman Taha
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Investors: Self, family and friends

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2 Valtteri Bottas, Mercedes, 4 wins, 314 points

3 Max Verstappen, Red Bull, 3 wins, 260 points

4 Charles Leclerc, Ferrari, 2 wins, 249 points

5 Sebastian Vettel, Ferrari, 1 win, 230 points

Director: Nag Ashwin

Starring: Prabhas, Saswata Chatterjee, Deepika Padukone, Amitabh Bachchan, Shobhana

Rating: ★★★★

MATCH INFO

Real Madrid 2 (Benzema 13', Kroos 28')
Barcelona 1 (Mingueza 60')

Red card: Casemiro (Real Madrid)

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