Mark Webber, front right, moves up behind Red Bull teammate Sebastian Vettel, front left, at the start the Malaysian Grand Prix.
Mark Webber, front right, moves up behind Red Bull teammate Sebastian Vettel, front left, at the start the Malaysian Grand Prix.

Vettel turns the corner in Malaysia



It was a case of third time lucky for Sebastian Vettel as he finally got his first victory on the board of the season with a dominant triumph in yesterday's Malaysian Grand Prix. After the frustration of a spark plug problem that slowed him down and dropped him from first to fourth in Bahrain before the agony of a mysterious brake problem caused him to spin out of the lead in Australia, finally in Sepang came the race the German had desperately craved: a problem free one.

It was a masterclass of smooth driving from the 22-year-old, with a ruthless manoeuvre on Mark Webber, his teammate, at the first corner deciding the race in his favour. Webber made a sluggish start and Vettel, starting directly behind him in third, seized the opportunity. He got into Webber's slipstream and bravely dived down the inside into the first right-hander. Slightly compromised on the exit of turn two, Webber had a run back at Vettel.

But Vettel stayed focused, calmly forced Webber to the outside and braked late to keep the position. From there on it was only ever going to be a technical gremlin that would prevent him tasting that winning feeling for the first time since the Abu Dhabi Grand Prix in November. With none of the forecast rain arriving, the way was clear for the Red Bulls to drive serenely on to a one-two finish and the sixth win of Vettel's career.

Webber's only hope of leapfrogging his teammate came in the pit-stops, but a problem with the front right tyre change slowed his stop and the Australian actually lost ground to Vettel rather than gaining anything. It was as much relief as joy that Vettel celebrated a result that has fired him back into championship contention just seven days after his hopes appeared to be wilting. "A very good result for us and for myself after two races where I didn't finish where I wanted to," he said. "It was crucial for the team not to panic. It is a long season but this is the best result we could get and on top of that Mark getting second place is a big plus for the team and a lot of points."

Having been seventh in the standings prior to the race, Vettel is now joint second, two points behind leader Felipe Massa and suddenly everything is looking good again for Red Bull. Nico Rosberg's Mercedes GP car was quick, but not in the class of the Red Bulls, and the German had a lonely run to third spot, ahead of the Renault of Robert Kubica. In all likelihood the Red Bulls would have won anyway, but they were given a hand by their chief rivals McLaren-Mercedes and Ferrari. Thanks to their misjudgement of the weather in qualifying they had started at the back and put themselves out of contention.

Lewis Hamilton did the best of the four, as he started from 20th in his McLaren and made a scintillating start. He was up to 13th by the end of the first lap, and in the top 10 by lap five. The Briton was fortunate to get away with weaving on lap eight to keep Vitaly Petrov's Renault behind him and he received a warning from the stewards for his actions. Hamilton's charge came to a grinding halt after his pit-stop as he was unable to get past Adrian Sutil's Force India and had to settle for sixth behind the German.

Massa enjoyed a race-long duel with world champion Jenson Button's McLaren in his Ferrari, before taking take seventh by passing the Briton 12 laps from the end. Button was harried by Massa's teammate Fernando Alonso in the closing laps. But just as he looked to have passed Button, he ran wide and then his engine expired, ending his chances of retaining the championship lead. Alguersuari was a fine ninth for Toro Rosso-Ferrari to score his first ever championship points, while Nico Hulkenberg got his first top 10 finish in tenth spot in the Williams-Toyota.

Seven-times world champion Michael Schumacher's tough return to the sport continued as a wheel nut came loose and the car lost drive. * Compiled by Graham Caygill, with agencies

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

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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%3Cp%3E%0D%3Cstrong%3E9pm%3C%2Fstrong%3E%20Maiden%20(PA)%20Dh70%2C000%20(Dirt)%202%2C000m%0D%3Cbr%3E%3Cstrong%3E9.30pm%3C%2Fstrong%3E%20Handicap%20(TB)%20Dh70%2C000%20(D)%202%2C000m%0D%3Cbr%3E%3Cstrong%3E10pm%3C%2Fstrong%3E%20Al%20Ain%20Cup%20%E2%80%93%20Prestige%20(PA)%20Dh100%2C000%20(D)%202%2C000m%0D%3Cbr%3E%3Cstrong%3E10.30pm%3C%2Fstrong%3E%20Maiden%20(PA)%20Dh70%2C000%20(D)%201%2C800m%0D%3Cbr%3E%3Cstrong%3E11pm%20%3C%2Fstrong%3EWathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(D)%201%2C600m%0D%3Cbr%3E%3Cstrong%3E11.30pm%3C%2Fstrong%3E%20Maiden%20(PA)%20Dh70%2C000%20(D)%201%2C400m%0D%3Cbr%3E%3Cstrong%3E12am%3C%2Fstrong%3E%20Maiden%20(PA)%20Dh70%2C000%20(D)%201%2C400m%3C%2Fp%3E%0A
The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800

The Two Popes

Director: Fernando Meirelles

Stars: Anthony Hopkins, Jonathan Pryce 

Four out of five stars

Other ways to buy used products in the UAE

UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.

Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.

Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.

For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.

Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.

At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.

The 12 Syrian entities delisted by UK 

Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV

Profile of Udrive

Date started: March 2016

Founder: Hasib Khan

Based: Dubai

Employees: 40

Amount raised (to date): $3.25m – $750,000 seed funding in 2017 and a Seed round of $2.5m last year. Raised $1.3m from Eureeca investors in January 2021 as part of a Series A round with a $5m target.

Banthology: Stories from Unwanted Nations
Edited by Sarah Cleave, Comma Press

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

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  • Deliveroo will team up with Pineapple Express to offer customers near JLT a special treat: free banana caramel dessert with all orders on January 26
  • Jones the Grocer will have their limited edition Australia Day menu available until the end of the month (January 31)
  • Australian Vet in Abu Dhabi (with locations in Khalifa City A and Reem Island) will have a 15 per cent off all store items (excluding medications)