Red Bull driver Sebastian Vettel of Germany, left, talks to Red Bull team principal Christian Horner in the team's garage during qualifying for the Singapore Grand Prix on Saturday. Pablo Sanchez / Reuters
Red Bull driver Sebastian Vettel of Germany, left, talks to Red Bull team principal Christian Horner in the team's garage during qualifying for the Singapore Grand Prix on Saturday. Pablo Sanchez / ReShow more

Red Bull’s Sebastian Vettel claims pole position at Singapore Grand Prix



Such has been the speed of Sebastian Vettel and Red Bull Racing that they had to engineer their own drama during Saturday’s qualifying session for Sunday’s Singapore Grand Prix.

Fastest in practice on Friday and quickest in final practice Saturday afternoon, the question appeared to be by what margin the German would take pole position, rather than if he would grab it.

True to form, the defending world champion charged to the top of the timesheets in the final part of qualifying with a lap of 1 minute, 42.841 seconds around the Marina Bay track on the first of his two planned runs.

All well and good as he was six-tenths quicker than second-place Nico Rosberg. But as the other cars in the top 10 headed out for their final run, Vettel got out of his car.

The three-time champion took his helmet off and became a spectator, watching Rosberg, Red Bull teammate Mark Webber and Ferrari’s Fernando Alonso all aim to improve on their time.

Red Bull and Vettel’s gamble was all to do with strengthening their race prospects even further.

Current F1 regulations dictate that in a dry qualifying session, the top 10 must start the actual race on the same set of tyres used for qualifying. By running only three laps, Vettel will have considerably fresher Pirellis on his car today for the race start than his rivals.

Now, all he had to do was wait and see if the qualifying mark would hold up.

The German had a fright as Webber was quicker initially in the second Red Bull, while Rosberg was faster in the first two sectors of the lap.

But neither driver was able to maintain their speed in the final twists and turns, and Vettel held on, though Rosberg’s deficit of just 0.091 seconds was a little close for comfort.

Of the experience, Vettel said: “I was watching the sectors times closely. Mark started with a purple [fastest] sector and Nico and Romain then had a purple sector, but fortunately my last sector was strong enough.

“It was a great feeing, I’m very happy with the result. The car has been phenomenal all weekend.”

Such is the speed advantage of the Red Bull in Vettel’s hands that it was a risk they alone could take.

Track position is critical in Singapore. Overtaking is possible on the track, but is not easy, so being out front is a big advantage.

Pole position gives Vettel the chance to repeat his dominant wins in Belgium and Italy, but the team were ready to risk possibly being overhauled to give themselves the optimum race strategy.

They felt they had done enough to take pole, but were confident enough that they could still win, even if they were overhauled.

Rosberg was disappointed not to have caught the triple world champion on his final flying lap, but still delighted with his overall performance.

“It was very close and it was a pity because one-tenth more and it would have been possible, but second is still a good result and gives us a good position to start the race tomorrow,” the German said.

“We are confident about our race pace, so I think a great result is possible.”

Like Red Bull and Mercedes, Lotus have a car that suits the rigours of high-downforce tracks like Singapore, and despite teammate Kimi Raikkonen nursing a bad back and managing only 13th on the grid, Romain Grosjean caused a surprise by qualifying third, demoting Webber a spot in the final seconds of the session.

“The car has been OK today and if we look at the number of laps we have done this weekend, it is not too bad,” the Frenchman said.

“The team made a good decision for the strategy and it is good to be in the front for this grand prix.”

Webber, who has been beaten by Vettel in every qualifying session this season, said he was not surprised to have been beaten by his teammate again.

“I didn’t think I was going to challenge him for pole,” the Australian said. “Seb’s pretty much owned the last sector on the options [soft tyres] the whole weekend. He’s been very, very strong.”

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THE SPECS

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Transmission: Constant Variable (CVT)

Power: 141bhp 

Torque: 250Nm 

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KEY DATES IN AMAZON'S HISTORY

July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon

1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024

1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

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SPECS: Polestar 3

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0-100km/h: 4.7sec
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Abu Dhabi GP schedule

Friday: First practice - 1pm; Second practice - 5pm

Saturday: Final practice - 2pm; Qualifying - 5pm

Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm

Essentials

The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes. 
 

Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes. 


In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes. 
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.

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If symptoms occur, they usually last for two-seven days

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Rating: 2/5

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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Price, base: Dh359,200

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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)

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

The biog

Name: Marie Byrne

Nationality: Irish

Favourite film: The Shawshank Redemption

Book: Seagull by Jonathan Livingston

Life lesson: A person is not old until regret takes the place of their dreams

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

Profile

Name: Carzaty

Founders: Marwan Chaar and Hassan Jaffar

Launched: 2017

Employees: 22

Based: Dubai and Muscat

Sector: Automobile retail

Funding to date: $5.5 million


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