Race winner Davide Valsecchi (ITA) iSport International celebrates at the end of the race.
GP2 Asia Series, Rd 1, Race 1, Yas Marina Circuit, Abu Dhabi, UAE, Saturday 31 October 2009.

© Sutton Motorsport Images
Davide Valsecchi winning the GP2 Asia race for iSport at the Yas Marina Circuit yesterday.

Valsecchi roars back for victory



ABU DHABI // Davide Valsecchi, the iSport driver, twice battled back to reclaim the lead he held from pole position, and then insisted he was "never worried" during his victory in the GP2 Asia Series' first race yesterday at the Yas Marina Circuit. The Italian, making his debut for iSport in the Asian series after joining the team from Barwa Addax earlier this year, eventually finished a comfortable 5.6 seconds ahead of his compatriot Luca Filippi of Meritus. Super Nova's James Jakes was in third.

Valsecchi said he could not have imagined a better start to the partnership. "I feel fantastic. This is the perfect start of the season: pole, win and fastest lap time. "Had somebody told me this would happen two weeks ago, I would have thought that they were crazy," said the 22-year-old. "I knew if I was given the chance to drive a competitive car I could do good things. And with iSport, things are going extremely well. This win is a fantastic result for me and for them."

Valsecchi faced problems off the grid and was overtaken by the British rookie Sam Bird. By the time the iSport debutant had regained his lead, he had Filippi gaining on him. Valsecchi opted to make his compulsory pit stop, letting the Meritus driver take the lead and Filippi pushed hard to make the most of it. But it was not enough, and Valsecchi expertly outmanoeuvred him on the 19th lap to retake first place, and ultimately the top step on the podium.

"It wasn't the best of starts, but to be honest, I was never worried. I lost just one place," said Valsecchi. "I was quite confident that the car was quick enough to overtake at some point and it happened early enough. We got the lead after that and it was good. I managed to pull a good gap." Filippi had no complaints about either the result or the admittedly risky manoeuvre that saw him overtaken by Valsecchi, and said he was just happy to finish on the podium in his maiden race with Malaysia-based Meritus.

"I am so pleased for the team - you can't believe. To be on the podium for our first race shows how competitive we are. It is just magnificent," said Filippi. "I like everything here and did the best I could with a really good car. It is a good result for the start, and the right result for the team after so much hard work on their side in the winter and after the tests last week where we were strong.

"I have not had a fantastic start, but overtook two competitors right away in the first laps and I had a very good team strategy for the race and the right pit stop. After [Valsecchi made his pit stop] I was leading the race and thought we had a chance to win. I pulled away a little bit, but then his pace was much better. I tried to defend my position, but then he made a good move, a bit risky, but nice. It was fair from both sides. Valsecchi had more power in the end."

In the Porsche Supercup, Khalid Al Qubaisi of Abu Dhabi Race Team saw his international race debut end prematurely when his Porsche 911 GT3 Cup careered off the track. The Emirati driver said he felt bittersweet emotions after representing his country in front of a home crowd. "I was pleased with my qualifying and to be here competing is still a dream come true," he said. "My target was to significantly improve my time [from practice] and to reduce the gap between me and the fastest. I was amazed how quick the others were, however, I just wanted to focus on the finer points of my driving.

"Of course I am disappointed about retiring early, especially as I made a really strong start and actually moved up the grid. It was an unfortunate incident, however that's racing. I'm just eager to get back out and do my best." The race was won by the German Rene Rast, who beat off competition from Nick Tandy and Jeroen Bleekemolen. Meanwhile, Bahrain's Salman Al Khalifa, soaked in sweat and rosewater, became the first man to stand atop a podium at Yas Marina Circuit after winning the Chevrolet Supercars Middle East Challenge ahead of the 2008 Championship winner Fahad al Musalam and Saudi's Prince Khalid al Faisal.

gmeenaghan@thenational.ae

UAE medallists at Asian Games 2023

Gold
Magomedomar Magomedomarov – Judo – Men’s +100kg
Khaled Al Shehi – Jiu-jitsu – Men’s -62kg
Faisal Al Ketbi – Jiu-jitsu – Men’s -85kg
Asma Al Hosani – Jiu-jitsu – Women’s -52kg
Shamma Al Kalbani – Jiu-jitsu – Women’s -63kg
Silver
Omar Al Marzooqi – Equestrian – Individual showjumping
Bishrelt Khorloodoi – Judo – Women’s -52kg
Khalid Al Blooshi – Jiu-jitsu – Men’s -62kg
Mohamed Al Suwaidi – Jiu-jitsu – Men’s -69kg
Balqees Abdulla – Jiu-jitsu – Women’s -48kg
Bronze
Hawraa Alajmi – Karate – Women’s kumite -50kg
Ahmed Al Mansoori – Cycling – Men’s omnium
Abdullah Al Marri – Equestrian – Individual showjumping
Team UAE – Equestrian – Team showjumping
Dzhafar Kostoev – Judo – Men’s -100kg
Narmandakh Bayanmunkh – Judo – Men’s -66kg
Grigorian Aram – Judo – Men’s -90kg
Mahdi Al Awlaqi – Jiu-jitsu – Men’s -77kg
Saeed Al Kubaisi – Jiu-jitsu – Men’s -85kg
Shamsa Al Ameri – Jiu-jitsu – Women’s -57kg

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

Results

Stage 2:
1. Soudal–Quick-Step - 18’11”
2. EF Education – EasyPost - 1"
3. Ineos Grenadiers - 3"
General classification:
1. Lucas Plapp (AUS) Ineos Grenadiers
2. Remco Evenepoel (BEL) Soudal–Quick-Step - ST
3. Nikias Arndt (GER) Bahrain Victorious - 3"

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

Director: Paul Weitz
Stars: Kevin Hart
3/5 stars

ASHES FIXTURES

1st Test: Brisbane, Nov 23-27 
2nd Test: Adelaide, Dec 2-6
3rd Test: Perth, Dec 14-18
4th Test: Melbourne, Dec 26-30
5th Test: Sydney, Jan 4-8

Race card

6.30pm: Handicap (TB) $68,000 (Dirt) 1,200m

7.05pm: Meydan Cup – Listed Handicap (TB) $88,000 (Turf) 2,810m

7.40pm: UAE 2000 Guineas – Group 3 (TB) $125,000 (D) 1,600m

8.15pm: Firebreak Stakes – Group 3 (TB) $130,000 (D) 1,600m

9.50pm: Meydan Classic – Conditions (TB) $$50,000 (T) 1,400m

9.25pm: Dubai Sprint – Listed Handicap (TB) $88,000 (T) 1,200m

MATCH INFO

Manchester City 6 Huddersfield Town 1
Man City: Agüero (25', 35', 75'), Jesus (31'), Silva (48'), Kongolo (84' og)
Huddersfield: Stankovic (43')

Mrs Chatterjee Vs Norway

Director: Ashima Chibber 

Stars: Rani Mukerji, Anirban Bhattacharya and Jim Sarbh 

Rating: 2/5

UAE SQUAD

Ali Khaseif, Mohammed Al Shamsi, Fahad Al Dhanhani, Khalid Essa, Bandar Al Ahbabi, Salem Rashid, Shaheen Abdulrahman, Khalifa Al Hammadi, Mohammed Al Attas, Walid Abbas, Hassan Al Mahrami, Mahmoud Khamis, Alhassan Saleh, Ali Salmeen, Yahia Nader, Abdullah Ramadan, Majed Hassan, Abdullah Al Naqbi, Fabio De Lima, Khalil Al Hammadi, Khalfan Mubarak, Tahnoun Al Zaabi, Muhammed Jumah, Yahya Al Ghassani, Caio Canedo, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

The Sandman

Creators: Neil Gaiman, David Goyer, Allan Heinberg

Stars: Tom Sturridge, Boyd Holbrook, Jenna Coleman and Gwendoline Christie

Rating: 4/5

The specs

BMW M8 Competition Coupe

Engine 4.4-litre twin-turbo V8

Power 625hp at 6,000rpm

Torque 750Nm from 1,800-5,800rpm

Gearbox Eight-speed paddleshift auto

Acceleration 0-100kph in 3.2 sec

Top speed 305kph

Fuel economy, combined 10.6L / 100km

Price from Dh700,000 (estimate)

On sale Jan/Feb 2020
 

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

Tips to keep your car cool
  • Place a sun reflector in your windshield when not driving
  • Park in shaded or covered areas
  • Add tint to windows
  • Wrap your car to change the exterior colour
  • Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
  • Avoid leather interiors as these absorb more heat
COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

UAE set for Scotland series

The UAE will host Scotland for a three-match T20I series at the Dubai International Stadium next month.
The two sides will start their Cricket World Cup League 2 campaigns with a tri-series also involving Canada, starting on January 29.
That series will be followed by a bilateral T20 series on March 11, 13 and 14.