Khabib Nurmagomedov at the weigh-in for UFC 254. Courtesy UFC
Khabib Nurmagomedov at the weigh-in for UFC 254. Courtesy UFC
Khabib Nurmagomedov at the weigh-in for UFC 254. Courtesy UFC
Khabib Nurmagomedov at the weigh-in for UFC 254. Courtesy UFC

UFC 254: Khabib Nurmagomedov, a 'crazy' destroyer from the very first special day


John McAuley
  • English
  • Arabic

Javier Mendez knew he was witnessing something special almost from the moment he saw him.

“The very first day he came into my gym. He destroyed everybody. He just smashed everybody,” the American Kickboxing Academy (AKA) founder says, recounting the day, back in San Jose in 2012, when Khabib Nurmagomedov walked through his door.

“He didn't really understand any English whatsoever. The funniest thing is that people would ask, ‘How good is Khabib?’ I'd go, ‘Man, that guy's unbelievable. I just wish he'd listen. Because every time I tell him relax, relax, the guy goes crazy on me’.

“Well, later he comes back and goes, ‘Coach, I don't understand. I thought that meant go harder. So I used to go harder’."

Not that Nurmagomedov was particularly equipped for that - literally. At one point, some time in the early days, a fellow student brought to Mendez’s attention that Nurmagomedov didn’t wear a mouthpiece. The coach insisted always upon the use of protective gear, so the Russian resolved to add it. The same went for headgear.

“He didn't used to wear headgear, so I said, ‘You're a professional; you’ve got to wear this’. I gave him an Everlast one. Now he won't get rid of it. He won’t spar with anything but that.

“That’s going to retire with him. And I believe I’m probably correct when I say that headgear's worth a couple million dollars. But he won't sell it.”

At AKA, everyone bought into Nurmagomedov from the outset. Daniel Cormier remembers seeing him on that first day, impressed immediately by his desire for self-improvement. Like Mendez, he knew right away he was watching an extraordinary talent.

“He was just a really nice kid, by himself, that was there to learn,” Cormier says. “He was a sponge. He didn’t speak much English, but you could always tell he was processing and trying to understand and get better, and he had work to do.

Javier Mendez, Khabib Nurmagomedov's coach. Courtesy UFC
Javier Mendez, Khabib Nurmagomedov's coach. Courtesy UFC

“Now he has it so completely locked in and well trained that it makes him one of the best fighters in the world. He doesn’t take shortcuts. He is 100 per cent committed to everything he does.”

That much was evident from the early sparring sessions at AKA. Nurmagomedov was already a fighter of some repute – he had amassed an 18-0 run through the professional ranks - but he was intent on soaking up the knowledge and the cage know-how passed down from the likes of Cormier, Luke Rockhold and Cain Velasquez. All three became UFC champions; Cormier at two different weights.

Even as the new kid on the block, Nurmagomedov held his own. It has sustained until now, as the still-undefeated Dagestani, 28-0, gets set to defend his lightweight crown against Justin Gaethje at UFC 254 in Abu Dhabi.

“He’s never lost a sparring session,” Mendez says. “Never been choked out. He came close a couple of times. One of my guys, Kyle Crutchmer, who is a Division-One wrestler, almost had him choked.

“I was running to get my camera, thinking, ‘Man, I got to film this’, but he got out. I couldn't believe it. And Kyle was so upset.

“People don’t really understand when I tell him I’ve never seen him lose a sparring session. Everybody loses sparring sessions. Not him. You might win a round or so. I've had that happen, but they don't win the session. Either he'll tap them out later, or he'll dominate them to the point where he's a winner. That's unbelievable.

“That's why I always say, ‘If you can't stop the ground game, you're not beating this man’. I don't care who you are. You're done.”

And so it has proved. Through his UFC career; through the 12 fights and the 10 since he first stepped foot in AKA; through the challenges presented by Rafael dos Anjos, Michael Johnson, Edson Barboza, Al Iaquinta, Conor McGregor and Dustin Poirier.

Ranked: Khabib's top fights

  • UFC 160 (May 2013) – Following his commanding stoppage of Thiago Tavares, Nurmagomedov took on another guy on the up in Abel Trujillo. The Brazilian was expected to offer a stern examination of his opponent’s fabled skills, but could muster barely anything: in the 15 minutes, Nurmagomedov threw around the octagon the heavier Trujillo, completing a barely believable 21 takedowns from 27 attempts. With the decision win, he set a UFC record for takedowns in a single match and secured his position as the promotion’s undisputed best wrestler. Zuffa LLC via Getty Images
    UFC 160 (May 2013) – Following his commanding stoppage of Thiago Tavares, Nurmagomedov took on another guy on the up in Abel Trujillo. The Brazilian was expected to offer a stern examination of his opponent’s fabled skills, but could muster barely anything: in the 15 minutes, Nurmagomedov threw around the octagon the heavier Trujillo, completing a barely believable 21 takedowns from 27 attempts. With the decision win, he set a UFC record for takedowns in a single match and secured his position as the promotion’s undisputed best wrestler. Zuffa LLC via Getty Images
  • UFC 165 (September 2013) – Undoubtedly Nurmagomedov’s toughest test until that point, the Russian was up against robust veteran Pat Healy, who was coming off a huge victory and on a seven-fight win streak. However, the American could barely withstand Nurmagomedov’s aggression or talent on the mat. He outpaced Healy – a rarity at the time – and outclassed him, earning a decision victory and moving to 5-0 in the UFC. He had come through in fine fashion. Commanding and conclusive, Nurmagomedov had given his first signature triumph. Zuffa LLC via Getty Images
    UFC 165 (September 2013) – Undoubtedly Nurmagomedov’s toughest test until that point, the Russian was up against robust veteran Pat Healy, who was coming off a huge victory and on a seven-fight win streak. However, the American could barely withstand Nurmagomedov’s aggression or talent on the mat. He outpaced Healy – a rarity at the time – and outclassed him, earning a decision victory and moving to 5-0 in the UFC. He had come through in fine fashion. Commanding and conclusive, Nurmagomedov had given his first signature triumph. Zuffa LLC via Getty Images
  • UFC Fox 11 (April 2014) – After a contract dispute between top contender Gilbert Melendez and the UFC put pay to a much-anticipated clash, Nurmagomedov took on instead fast-rising star Rafael Dos Anjos (RDA) – another significantly daunting opponent. Yet he paid no attention to pre-fight predictions, mauling RDA comprehensively. Nurmagomedov ragdolled a future UFC lightweight champion who had never before let that happen. It was 15 minutes of total domination. Despite the points defeat, RDA went on to capture the belt, but many viewed Nurmagomedov as the division’s de-facto champion. Zuffa LLC via Getty Images
    UFC Fox 11 (April 2014) – After a contract dispute between top contender Gilbert Melendez and the UFC put pay to a much-anticipated clash, Nurmagomedov took on instead fast-rising star Rafael Dos Anjos (RDA) – another significantly daunting opponent. Yet he paid no attention to pre-fight predictions, mauling RDA comprehensively. Nurmagomedov ragdolled a future UFC lightweight champion who had never before let that happen. It was 15 minutes of total domination. Despite the points defeat, RDA went on to capture the belt, but many viewed Nurmagomedov as the division’s de-facto champion. Zuffa LLC via Getty Images
  • UFC 205 (November 2016) – Having returned earlier that year following two years of injury and inaction, Nurmagomedov had been expected to fight champion Eddie Alvarez. Much to his annoyance, though, the UFC handed that bout to Conor McGregor. Remaining on the card, Nurmagomedov met the in-from Michael Johnson and, having survived an early onslaught, mauled the American to claim the submission win. Between rounds - sometimes between shots - Nurmagomedov screamed at UFC president Dana White to give him a title shot. “Give me your son,” he declared. “I want McGregor.” Zuffa LLC via Getty Images
    UFC 205 (November 2016) – Having returned earlier that year following two years of injury and inaction, Nurmagomedov had been expected to fight champion Eddie Alvarez. Much to his annoyance, though, the UFC handed that bout to Conor McGregor. Remaining on the card, Nurmagomedov met the in-from Michael Johnson and, having survived an early onslaught, mauled the American to claim the submission win. Between rounds - sometimes between shots - Nurmagomedov screamed at UFC president Dana White to give him a title shot. “Give me your son,” he declared. “I want McGregor.” Zuffa LLC via Getty Images
  • UFC 219 (December 2017) – With his title match against Tony Ferguson scuppered by a bad weight cut, Nurmagomedov returned after another lengthy lay-off – 13 months – to meet the dangerous Edson Barboza. True to form, Nurmagomedov dominated his rival on the ground, punishing the Brazilian with punches and elbows so vicious that at the end of Round 1 Barboza struggled to stand. The huge blows continued, with Nurmagomedov taking the victory convincingly on points. Many proclaimed it Nurmagomedov’s best performance in UFC. He landed the lightweight title in his next bout. Zuffa LLC via Getty Images
    UFC 219 (December 2017) – With his title match against Tony Ferguson scuppered by a bad weight cut, Nurmagomedov returned after another lengthy lay-off – 13 months – to meet the dangerous Edson Barboza. True to form, Nurmagomedov dominated his rival on the ground, punishing the Brazilian with punches and elbows so vicious that at the end of Round 1 Barboza struggled to stand. The huge blows continued, with Nurmagomedov taking the victory convincingly on points. Many proclaimed it Nurmagomedov’s best performance in UFC. He landed the lightweight title in his next bout. Zuffa LLC via Getty Images
  • UFC 229 (October 2018) – The highly anticipated scrap with Conor McGregor was fuelled by an altercation ahead of UFC 223, when the Irishman attacked a bus containing various members of Nurmagomedov’s team. Months later, the two rivals met in Las Vegas, where Nurmagomedov made the first defence of his belt, dominating McGregor before sealing a fourth-round submission. After the contest, Nurmagomedov scaled the octagon to attack McGregor’s corner, resulting in a mass brawl. He was later fined $500,000 and banned for nine months. Los Angeles Daily News via Getty Images
    UFC 229 (October 2018) – The highly anticipated scrap with Conor McGregor was fuelled by an altercation ahead of UFC 223, when the Irishman attacked a bus containing various members of Nurmagomedov’s team. Months later, the two rivals met in Las Vegas, where Nurmagomedov made the first defence of his belt, dominating McGregor before sealing a fourth-round submission. After the contest, Nurmagomedov scaled the octagon to attack McGregor’s corner, resulting in a mass brawl. He was later fined $500,000 and banned for nine months. Los Angeles Daily News via Getty Images
  • UFC 242 (September 2019) – Abu Dhabi marked the setting for Nurmagomedov’s return from suspension, with the fighter’s father Abdulmanap able to corner his son for the first time in his career. At a packed The Arena on Yas Island, the champion saw off interim champion Dustin Poirier by third-round submission, even escaping what at the time seemed a tight guillotine choke from the American. The venue erupted, and Nurmagomedov reciprocated, saying later: “I love these people; these people love me. I want to come back here, maybe next year. Why not?” He held true to his promise. Chris Whiteoak / The National
    UFC 242 (September 2019) – Abu Dhabi marked the setting for Nurmagomedov’s return from suspension, with the fighter’s father Abdulmanap able to corner his son for the first time in his career. At a packed The Arena on Yas Island, the champion saw off interim champion Dustin Poirier by third-round submission, even escaping what at the time seemed a tight guillotine choke from the American. The venue erupted, and Nurmagomedov reciprocated, saying later: “I love these people; these people love me. I want to come back here, maybe next year. Why not?” He held true to his promise. Chris Whiteoak / The National

To this point, Nurmagomedov has surrendered a solitary round in the promotion: the third against McGregor in their ill-tempered clash in October 2018. Even then, Mendez says Nurmagomedov went toe-to-toe with the Irishman simply to prove his stand-up, much underrated, could rival the best.

Cormier attended that night at the T-Mobile Arena with his son, unable to sit down, screaming and yelling throughout as Nurmagomedov railed against the notoriously contentious build-up to submit the Notorious in the fourth round. It exists still as the biggest bout in UFC history.

The event, though, was marred by a post-fight brawl, incited when Nurmagomedov scaled the cage and crashed down in the middle of McGregor’s team. Both camps became embroiled in the melee, with two of Nurmagomedov’s group, fellow fighters Abubakar Nurmagomedov and Zubaira Tukhugov, later suspended for a year. Nurmagomedov, meanwhile, was banned for nine months and fined $500,000.

For Cormier, Nurmagomedov’s reaction to his teammates’ punishment says everything about him.

“There’s a story out there about Khabib that the whole world has, and we need to focus on that,” he says. “Because it truly identifies who he is. I believe it’s in the bad is how you measure a man.

Khabib Nurmagomedov came in at 155lbs for his UFC 254 lightweight title bout against Justin Gaethje at Flash Forum in Abu Dhabi. Courtesy UFC
Khabib Nurmagomedov came in at 155lbs for his UFC 254 lightweight title bout against Justin Gaethje at Flash Forum in Abu Dhabi. Courtesy UFC

"When Zubaira and all these guys who got suspended and fined, they were acting in Khabib’s defence. They just wanted to protect their brother.

“After, he paid all their fines. And he sat on the sideline for as long they would sit on the sideline. They all got into that issue together, which was a bad situation. But he sat it out with them even when he didn’t need to. That pretty much exemplifies who he is. He’s that person to everybody who’s important to him.”

Speak to Cormier, or Mendez, or manager Ali Abdelaziz, and they all describe Nurmagomedov in the same way: fiercely loyal, unwaveringly protective, but with a kindness to everyone around him. He is a devout Muslim.

“Khabib is such a beautiful person,” Mendez says. “The things he does for all his guys; it's unbelievable how he takes care of all the fighters on his team, his family. You'll never meet another person that's as generous as him with his family. And he looks for jobs for them. He puts them on the payroll.

Javier Mendez, long time coach to Khabib Nurmagomedov, at the Meydan Hotel in Dubai. (Pawan Singh / The National)
Javier Mendez, long time coach to Khabib Nurmagomedov, at the Meydan Hotel in Dubai. (Pawan Singh / The National)

“He's never just about himself. For me, when you look at a Muslim man, the definition of what they stand for, look at Khabib. And it’s real."

Cormier sees that inherent good, as well.

“He’s a loyal guy,” he says. “He loves his family, very devout in his religion. All the boxes that you’d want checked in a person you want to be a friend with. He’s just one of those guys that you can look up to.

“Our relationship hasn’t changed. He came into AKA kind of like the little brother, man. Like the little brother that we all just loved: our little Russian brother. It’s the same now. I appreciate him. He’s a real good guy.”

That likeability extends to the top of the UFC.

“He’s a really nice kid,” Dana White, the promotion’s president, says. “I’ve never had a problem with Khabib. Ever. There’s never been any type of situation, business-wise or any of that. He’s just always been a real good guy and easy to deal with.”

It helps, of course, when you’ve grown into one of the UFC's most marketable athletes. Nurmagomedov has more than 23 million followers across Instagram and Twitter, while his net worth is estimated to fall somewhere in the vastly broad range between $30m and $100m.

Not that fame and fortune necessarily sits easy.

“When he blew up and became a huge superstar it was hard on him at first,” White recalls. “He couldn’t go anywhere, he couldn’t do anything.

“Even in the States, when he would show up in San Jose, there’d be so many people waiting outside the gym for him that it would take him 35-40 minutes just to get inside.

“Everybody thinks being famous is awesome, but it can be a huge pain in the ass too. Especially when you’re trying to live your life and do the things you like to do.”

Mendez has seen first-hand the clamour, both in San Jose and in Nurmagomedov’s native Dagestan. The former kickboxing champion has travelled there on numerous occasions, each time observing more the celebrity that has attached itself to the home hope made great.

“It's tough in Dagestan because he's so famous,” Mendez says. “Let's put it this way: I'm very famous there. If I walk down the street, I'm getting flagged down. People will stop their cars, come up, and take a photo with me. That's how popular I am, because of him.

“So imagine him. He's the national hero of all Russia, and then Dagestan, he's their beloved everything. He can't go anywhere.

“I talked to him, asked him how he deals with it, and he says it's hard. Khabib just likes having his people around; he doesn't thrive off the attention.”

Daniel Cormier, left, has described Justin Gaethje as the most exciting fighter in all combat sports but still expects Khabib Nurmagomedov to win their bout at UFC 254. Jeff Bottari / Zuffa LLC
Daniel Cormier, left, has described Justin Gaethje as the most exciting fighter in all combat sports but still expects Khabib Nurmagomedov to win their bout at UFC 254. Jeff Bottari / Zuffa LLC

With the success and the superstardom, the scrutiny has grown. Now 32, Nurmagomedov stands currently as the UFC's No 2 pound-for-pound fighter and, should he defeat interim-champion Gaethje on Saturday night at Flash Forum, White believes he will ascend the summit.

For the company’s chief, retaining that unblemished record, and the pressure that undoubtedly brings, says as much about Nurmagomedov’s mettle as it does his might inside the octagon.

“One hundred per cent,” White says. “Just like Jon Jones, if you look at what he’s done. They’re two of the greatest ever. What happened is Khabib's gone undefeated so long and at the level he’s been fighting at.

“Obviously beating a superstar like Conor the way that he beat him doesn’t hurt either. If you look at the lead-up to the Conor fight, the way the fight went down, the [stuff] that happened after, all that helped turn him into a huge superstar. It’s the same way Conor was built.”

McGregor and Nurmagomedov, forever entwined by that infamous match-up two years ago, appear polar opposites in personality. Yet they live together as the sport's two most high-profile athletes.

“It takes all different types,” White says. “If everybody acted like Conor, Conor wouldn’t be special, right? I think the appeal of Khabib is that he’s such a nice guy, he’s so respectful, and his relationship with his father.”

A father to his son

The connection with his father has been a constant narrative during Nurmagomedov’s rise. Abdulmanap Nurmagomedov was parent and coach, honing his son from an early age, instilling the discipline and determination that carried Khabib to the pinnacle. A revered trainer, Abdulmanap is responsible for a succession of Dagestani fighters graduating to the UFC.

The importance of that relationship with his son has only accentuated ahead of Gaethje, after Abdulmanap died in July from heart complications made worse by contracting Covid-19. He was 57.

How Nurmagomedov responds to the personal tragedy provides another intriguing subplot to Saturday.

Khabib hugs his dad at UFC 242 in Abu Dhabi in September 2019. Chris Whiteoak / The National
Khabib hugs his dad at UFC 242 in Abu Dhabi in September 2019. Chris Whiteoak / The National

“I think he's keeping a lot of that bottled inside,” Mendez says. “We didn't really talk about his father, but his father's in him, and his father's wishes are in him and all of us.

“I wish he was still here. He trained so many great up-and-coming guys who will become names in the world. He deserves to be in that scenario. He was way too young.”

In his father’s absence, Khabib has stepped up, taking a more prominent role in training.

“I would say almost everything Khabib is, he got from his father,” Mendez says. ‘His father was a disciplinarian; he was loyal; he had compassion for everybody; he always looked to help people.

“He was always building projects, and Khabib's doing the same thing. So he's following in his father's footsteps, carrying the legacy of what his father represented.”

Cormier sees that also.

Khabib Nurmagomedov and Justin Gaethje traded respect instead of insults during their pre-fight face-off at Yas Beach ahead of UFC 254
Khabib Nurmagomedov and Justin Gaethje traded respect instead of insults during their pre-fight face-off at Yas Beach ahead of UFC 254

“Khabib’s dad was the pillar of their household, obviously, but the entire Dagestan region,” he says. “He was almost like a godfather of that region. And him being gone will thrust Khabib into a different role, for sure in the house, but all the lessons he took from his dad will carry him through and on to being the same type of person.

“Khabib’s got a lot to give back, especially to the region: building his gym and being who he is and using that platform to help and uplift other people.

“I think that’s going to be his purpose. We do things as athletes and we try to leave our mark on the world, but I believe it’s what you do after, when the lights aren’t as bright. And I believe Khabib will elevate so many people from the Dagestan region, just as his dad started to.”

The conclusion to that career has crept more into view following his father’s passing. He and Nurmagomedov spoke often about reaching 30-0, culminating in a “legacy fight” with Georges St-Pierre. For his part, Nurmagomedov has remained largely non-committal as to what the future may hold. Gaethje, he says, forms his sole focus.

Cormier spent time with Nurmagomedov this week in Abu Dhabi – “he seems very ready to fight” - and concedes he will have a difficult time on Saturday, when in his role as ESPN’s colour commentator, he calls his close friend’s fight for the first time.

Khabib Nurmagomedov and his father Abdulmanap Nurmagomedov in Moscow in 2018. (Photo by Kirill KUDRYAVTSEV / AFP)
Khabib Nurmagomedov and his father Abdulmanap Nurmagomedov in Moscow in 2018. (Photo by Kirill KUDRYAVTSEV / AFP)

Instead, Cormier plans to celebrate with Nurmagomedov once he has climbed closer to that hallowed 30-mark.

If Nurmagomedov does eventually get there, perhaps next April against “GSP”, and then in fact calls it a day, Cormier believes he will be sorely missed. Even, that he could slip almost completely from view.

“I think that, if Khabib leaves when he says he’s going to leave, at 30-0, it’ll be like a whirlwind, like a tornado came and flipped the world up on its axis, and then just went away,” Cormier says. “That’s kind of the way it is with these guys from Dagestan.

“I know a lot of wrestlers who became Olympic champs and then just kind of disappeared. I think he would be with us, flip the world upside down and then be gone.

“It’s unsure times. You don’t want him to leave, but when he does he’ll leave with fond memories from all around the world.”

Khabib Nurmagomedov, right, defeated Conor McGregor by submission in their October 2018 UFC bout in Las Vegas. Reuters
Khabib Nurmagomedov, right, defeated Conor McGregor by submission in their October 2018 UFC bout in Las Vegas. Reuters

Irrespective of at which juncture Nurmagomedov departs, come through this weekend and then potentially one more test, and White says his place in the pantheon is cemented.

“Khabib needs to beat Gaethje,” he says, glancing through the lightweight rankings. “He’s got a couple more fights here to go; 30 and 0. Maybe he goes 31 and 0 or something.

“If he gets through these fights I’m talking about, he’ll be the greatest lightweight ever and one of the greatest mixed martial artists that’s ever lived.”

Mendez can see the finish line for Nurmagomedov, but only because of the conversations he was privy to between father and son. There were rumours Nurmagomedov considered retirement not long after Abdulmanap died.

“I didn't have concern because to me it's God's will,” Mendez says. “If that's what he wanted to do, I'd just move on. And him and I, doesn't change our relationship. I still love him. Whatever's good for him is good for me.

“But I never thought he would just stop. Because his father wanted him at 30-0. And they would talk about, ideally, the 30th guy being GSP. I look at him as achieving 30-0, then we'll see what happens. Could very well retire - great chance of that happening. "But there's a possibility he might want to prove more because, in all honesty, as a fighter, you impact more people when you're in the spotlight than when you're not.

But first we got to get to 29-0, and Justin Gaethje is an extremely tough opponent.”

Abdulmanap will not be there in person come Saturday night, like he was against Poirier at UFC 242 in Abu Dhabi 13 months ago, but Mendez knows he will be in spirit. And that, he says, promises to push Nurmagomedov towards triumph; to thrust the unassuming guy with no English who walked through his door eight years ago and took away the breath, towards truly legendary status.

“Let me put it to you this way: a father's will, to please your father, can do so much for you,” Mendez says. “It can break you or make you. If I'm Khabib, I'm going to use what my father said to make him more proud of me.

“He’s going to use what his father wanted of him to propel him to victory. I genuinely believe that.”

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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.”

Key recommendations
  • Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
  • Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
  • Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
  • More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
RESULTS

6.30pm: Handicap (rated 95-108) US$125,000 2000m (Dirt).
Winner: Don’t Give Up, Gerald Mosse (jockey), Saeed bin Suroor (trainer).

7.05pm: Handicap (95 ) $160,000 2810m (Turf).
Winner: Los Barbados, Adrie de Vries, Fawzi Nass.

7.40pm: Handicap (80-89) $60,000 1600m (D).
Winner: Claim The Roses, Mickael Barzalona, Salem bin Ghadayer.

8.15pm: UAE 2000 Guineas Trial (Div-1) Conditions $100,000 1,400m (D)
Winner: Gold Town, William Buick, Charlie Appleby.

8.50pm: Cape Verdi Group 2 $200,000 1600m (T).
Winner: Promising Run, Patrick Cosgrave, Saeed bin Suroor.

9.25pm: UAE 2000 Guineas Conditions $100,000 1,400m (D).
Winner: El Chapo, Luke Morris, Fawzi Nass.

Dengue%20fever%20symptoms
%3Cp%3EHigh%20fever%20(40%C2%B0C%2F104%C2%B0F)%3Cbr%3ESevere%20headache%3Cbr%3EPain%20behind%20the%20eyes%3Cbr%3EMuscle%20and%20joint%20pains%3Cbr%3ENausea%3Cbr%3EVomiting%3Cbr%3ESwollen%20glands%3Cbr%3ERash%26nbsp%3B%3C%2Fp%3E%0A
Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%206-cylinder%203-litre%2C%20with%20petrol%20and%20diesel%20variants%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20automatic%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20286hp%20(petrol)%2C%20249hp%20(diesel)%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E450Nm%20(petrol)%2C%20550Nm%20(diesel)%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EStarting%20at%20%2469%2C800%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
THE CLOWN OF GAZA

Director: Abdulrahman Sabbah 

Starring: Alaa Meqdad

Rating: 4/5

UAE%20SQUAD
%3Cp%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Aryan%20Lakra%2C%20Ashwanth%20Valthapa%2C%20Asif%20Khan%2C%20Aryansh%20Sharma%2C%20CP%20Rizwaan%2C%20Hazrat%20Billal%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Rohan%20Mustafa%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%20and%20Zawar%20Farid.%3C%2Fp%3E%0A
Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

Pox that threatens the Middle East's native species

Camelpox

Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.

Falconpox

Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.

Houbarapox

Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.

FFP EXPLAINED

What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate? 
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties? 
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory