Face it. We may possibly be the most spoilt and entitled generation of sports-watchers ever in the history of sports-watching.
In our lifetimes, we have seen the greatest men’s tennis player of all time (take your pick from three actually) and the greatest female tennis player of all time (no picks, just one name). We have seen men run the 100 metres faster than ever before. We have seen the two greatest footballers strive season after season to prove they are the better than the other. We have seen some of the most evolved football teams known to man.
We take all their successes – especially the overwhelming and recurring nature of it, of grand slam title after grand slam title, of goal after gazillionth goal, of 9.58 seconds for 100m – for granted.
Maybe that is the only way to deal with the enormity of what they are accomplishing, to become almost inured to it. Athletes, we begin to think, are machines not humans, designed and calibrated to produce success wherever and however they may be.
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We hold them to ridiculous, exacting standards – Usain Bolt will win three successive Olympic golds in the 100m and if he does not, then he may not be a failure but we will question his GOAT quotient.
If Novak Djokovic or Serena Williams do not complete the Grand Slam, or had they not won each one of the four to complete a career Grand Slam, they might not have been considered the finest of all time.
Big football clubs that do not win trebles have to find someone to blame and fire. An NBA side puts together the best regular-season record ever but because it loses in the final, somehow the regular-season record loses a little sheen.
This kind of excellence has conversely devalued, almost belittled success – which is probably the main reason why the Olympics still continue to hold relevance in this climate and not just that, but a certain, unmatched resonance as well.
Here, in Rio, in London, in Beijing, in Athens and beyond, every four years, we are reminded that success is not inevitable, that it cannot be taken for granted and that the multiplicity of it is unusual in the extreme, certainly not the norm.
Even and, perhaps, especially when, the success is one, fleeting moment of glory, we begin to understand how much success really means.
On Tuesday, the UAE's Sergiu Toma won the bronze medal in the men's judo -81kg division, beating Italy's Matteo Marconcini with a quick takedown to put himself on the podium. He was not far from going further, having lost to eventual gold-medallist Khasan Khalmurzaev in the semi-finals in a "golden score" takedown.
Now you could look at some of the athletes around in these Games, and because you are spoilt, think sure, a bronze is great but a gold is something else. Soon after Toma, in fact, Michael Phelps picked up his 20th and 21st Olympic gold medals, a feat that would, if he were a country, place him 39th on the list of all-time Olympic golds.
Now we are likely to be pretty nonchalant about it because it has happened so often – of course he won, he is Michael Phelps. He was bound to. It was helpful of Phelps, then, to prick our bubble. “That’s a lot of medals, it’s just insane. It’s mind-blowing.”
Even winning the one medal is mind-blowing, as Toma and the UAE will appreciate (and neither Djokovic or Williams go home with one from here). It hardly matters that it was bronze and not gold. How much can the distinction matter to a country for whom this was only the second medal at the Games, following Sheikh Ahmed bin Hasher's gold in shooting at Athens 2004?
To a relatively smaller sporting country like the UAE, these individual successes have the potential to have as great an impact on that sport as Phelps might on young swimmers in the US.
A return of a bronze for the funding that goes into judo will suddenly mean that more funding will come into the sport, that it can and should be taken to more schools. Above all, it means, in Toma, there is a role model to latch on to, to rally around and aspire to.
Nearly 30 years ago in Seoul, Hussain Shah won a bronze medal for Pakistan in boxing. It was only the country’s second individual medal at the Games. They had a fairly established tradition of boxing in the country but Shah’s success sparked two decades of regional and international success for Pakistan that would otherwise have never occurred.
Pakistani boxing, like so many other sports, is dead now, in the main from maladministration. The UAE, however, is inestimably better placed to look upon that little boom, inspired by a solitary medal, and build itself a far sturdier, richer legacy.
osamiuddin@thenational.ae
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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.”
Killing of Qassem Suleimani
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Profile box
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)
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
UAE currency: the story behind the money in your pockets
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Match info:
Real Betis v Sevilla, 10.45pm (UAE)
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
The specs: 2019 Jeep Wrangler
Price, base: Dh132,000
Engine: 3.6-litre V6
Gearbox: Eight-speed automatic
Power: 285hp @ 6,400rpm
Torque: 347Nm @ 4,100rpm
Fuel economy, combined: 9.6L to 10.3L / 100km
UAE SQUAD
Mohammed Naveed (captain), Mohamed Usman (vice captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan