MONTE CARLO // Sebastian Vettel, after finishing on pole position on Saturday, described the Monaco Grand Prix as “a bit of a casino with a lot of things going on”.
Yesterday, after risking it all in a quest to secure his fifth win from six races this season, he lucked in and won the jackpot.
Red Bull Racing’s reigning world champion finished 1.1 seconds ahead of Ferrari’s Fernando Alonso with Jenson Button of McLaren-Mercedes another 1.2secs behind.
But he needed more than his fair share of fortune on the streets of Monte Carlo. First, a safety car helped him eradicate Jenson Button’s 15-second lead. Then, with just six laps remaining and employing a high-risk one-stop strategy, a red flag allowed him to change his worn tyres without sacrificing his position at the front of the field to the prowling Alonso.
“I am extremely happy,” Vettel said. “The victory at times seemed far away, but like I said before, Monaco is a crazy place.
“I think the roulette wheel spun a lot [in qualifying] and kept on spinning throughout this race, so I’m really happy. It’s a fantastic result.”
The race was poised for a grandstand finish with Vettel, Alonso and Button all separated by less than a second and the 23-year-old German being forced to defend brilliantly on old tyres to ward off the growing threat of an aggressive Alonso.
But with six laps remaining, Alonso was poised to attack when the trio of front-runners found traffic from the back of the field and a multi-car collision involving Adrian Sutil, Jaime Alguersuari, Lewis Hamilton and Vitaly Petrov.
This resulted in the race being suspended while an ambulance arrived to take Petrov to hospital after he had made heavy contact with the barriers.
The Russian, who drives for Lotus Renault, was later discharged with his team reporting that he had suffered no broken bones or serious injury in the incident.
When action resumed 23 minutes later, Vettel had fresh tyres, fresh impetus and was able to close out his first win at Circuit de Monaco without too much trouble as he built up a one-second lead over Alonso which he was able to maintain.
With McLaren’s Hamilton finishing sixth, Vettel now leads the world championship by 58 points.
“As expected, it was not a normal Monaco Grand Prix,” he said. “We took the risk and in the end we got the reward.”
Speaking of his decision to employ a one-stop strategy, Vettel said he had overruled his team, who had ordered him to the pits.
“I got the call to box, but I said ‘No, I want to stay out’,” he said.
“It was the only way I was going to win the race. [Alonso] was getting closer and closer, then with six laps to go they had to suspend the race.
“Obviously, I was struggling with the tyres, but I think we could have held on.”
Alonso said he and Vettel were fortunate the safety car was deployed earlier in the race following an accident involving his teammate Felipe Massa, who was forced to retire.
“We we very lucky because Jenson was on his way to victory,” Alonso said.
Button, however, was philosophical about missing out on a second success in Monte Carlo to go with his 2009 triumph.
“I don’t know if you can call it unlucky,” said the Briton. “On lap 16 of the race, we thought [three stops] was the right strategy. To be pulling such a lead, even through traffic, was great and the car felt good, but the safety car mixed things up a little bit.
“It just didn’t go our way. It’s disappointing because we didn’t put a foot wrong, but these things happen in Monaco.
“It was good fun to watch these guys tussle. I was waiting for the move to see if it came off or to see if they ended up in the barriers.”
Vettel was able to avoid the barriers, but he had no intention of avoiding the Red Bull swimming pool, which he gleefully leapt into following his memorable win.
gmeenaghan@thenational.ae
Monaco GP race results
1 Vettel, Red Bull 2h09m.38.373s
2 Alonso, Ferrari +1.138
3 Button, McLaren +2.378
4 Webber, Red Bull +23.100
5 Kobayashi, Sauber +26.900
6 Hamilton, McLaren +27.200
7 Sutil, Force India +1 lap
8 Heidfeld, Renault +1 lap
9 Barrichello, Williams + 1 lap
10 Buemi, Toro Rosso + 1 lap
11 Rosberg, Mercedes + 1 lap
12 Di Resta, Force India + 2 laps
13 Trulli, Lotus + 2 laps
14 Kovalainen, Lotus +2 laps
15 D'Ambrosio, Virgin + 2 laps
16 Liuzzi, HRT + 3 laps
17 Karthikeyan, HRT + 3 laps
18 Maldonado, Williams + 5 laps
Retired
19 Petrov, Renault 68 laps
20 Alguersuairi, Toro Rosso 68 laps
21 Massa, Ferrari 33 laps
22 Schumacher, Mercedes 33 laps
23 Glock, Virgin 31 laps
24 Perez, Sauber did not start
Drivers’ championship
1 Sebastian Vettel, Germany 143
2 Lewis Hamilton, Great Britain 85
3 Mark Webber, Australia 79
4 Jenson Button, Great Britain 76
5 Fernando Alonso, Spain 69
6 Nick Heidfeld, Germany 29
7 Nico Rosberg, Germany 26
8 Felipe Massa, Brazil 24
9 Vitaly Petrov, Germany 21
10 Kamui Kobayashi, Japan 19
11 Michael Schumacher, Germany 14
12 Adrian Sutil, Germany 8
13 Sebastien Buemi, Switzerland 2
14 Paul Di Resta, Great Britain 2
15 Sergio Perez, Mexico 2
16 Rubens Barrichello, Brazil 2
17 Jarno Trulli, Italy 0
18 Jerome d'Ambrosio, Belgium 0
19 Heikki Kovalainen, Finland 0
20 Jaime Alguersuari, Spain 0
21 Pastor Maldonado, Venezuela 0
22 Narain Karthikeyan, India 0
23 Timo Glock, Germany 0
24 Vitantonio Liuzzi, Italy 0
Constructors’ championship
1 Red Bull Racing 222 pts
2 McLaren-Mercedes 161
3 Ferrari 93
4 Renault 50
5 Mercedes GP 40
6 Sauber-Ferrari 21
7 Force India-Mercedes 10
8 Toro Rosso-Ferrari 7
9 Williams-Cosworth 2
10 Team Lotus-Cosworth 0
11 Virgin-Cosworth 0
12 HRT-Cosworth 0
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ETwin-turbo%2C%20V8%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20automatic%20and%20manual%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E503%20bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E513Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh646%2C800%20(%24176%2C095)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Monster
Directed by: Anthony Mandler
Starring: Kelvin Harrison Jr., John David Washington
3/5
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
England v South Africa schedule
- First Test: Starts Thursday, Lord's, 2pm (UAE)
- Second Test: July 14-18, Trent Bridge, Nottingham, 2pm
- Third Test: The Oval, London, July 27-31, 2pm
- Fourth Test: Old Trafford, Manchester, August 4-8
Five expert hiking tips
- Always check the weather forecast before setting off
- Make sure you have plenty of water
- Set off early to avoid sudden weather changes in the afternoon
- Wear appropriate clothing and footwear
- Take your litter home with you
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.”
if you go
The flights
Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
When to visit
March-May and September-November
Visas
Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
UAE currency: the story behind the money in your pockets
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Du Football Champions
The fourth season of du Football Champions was launched at Gitex on Wednesday alongside the Middle East’s first sports-tech scouting platform.“du Talents”, which enables aspiring footballers to upload their profiles and highlights reels and communicate directly with coaches, is designed to extend the reach of the programme, which has already attracted more than 21,500 players in its first three years.
CONFIRMED%20LINE-UP
%3Cp%3EElena%20Rybakina%20(Kazakhstan)%0D%3Cbr%3EOns%20Jabeur%20(Tunisia)%0D%3Cbr%3EMaria%20Sakkari%20(Greece)%0D%3Cbr%3EBarbora%20Krej%C4%8D%C3%ADkov%C3%A1%20(Czech%20Republic)%0D%3Cbr%3EBeatriz%20Haddad%20Maia%20(Brazil)%0D%3Cbr%3EJe%C4%BCena%20Ostapenko%20(Latvia)%0D%3Cbr%3ELiudmila%20Samsonova%0D%3Cbr%3EDaria%20Kasatkina%E2%80%AF%0D%3Cbr%3EVeronika%20Kudermetova%E2%80%AF%0D%3Cbr%3ECaroline%20Garcia%20(France)%E2%80%AF%0D%3Cbr%3EMagda%20Linette%20(Poland)%E2%80%AF%0D%3Cbr%3ESorana%20C%C3%AErstea%20(Romania)%E2%80%AF%0D%3Cbr%3EAnastasia%20Potapova%E2%80%AF%0D%3Cbr%3EAnhelina%20Kalinina%20(Ukraine)%E2%80%AF%E2%80%AF%0D%3Cbr%3EJasmine%20Paolini%20(Italy)%E2%80%AF%0D%3Cbr%3EEmma%20Navarro%20(USA)%E2%80%AF%0D%3Cbr%3ELesia%20Tsurenko%20(Ukraine)%0D%3Cbr%3ENaomi%20Osaka%20(Japan)%20-%20wildcard%0D%3Cbr%3EEmma%20Raducanu%20(Great%20Britain)%20-%20wildcard%3Cbr%3EAlexandra%20Eala%20(Philippines)%20-%20wildcard%3C%2Fp%3E%0A
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
The biog
Name: Timothy Husband
Nationality: New Zealand
Education: Degree in zoology at The University of Sydney
Favourite book: Lemurs of Madagascar by Russell A Mittermeier
Favourite music: Billy Joel
Weekends and holidays: Talking about animals or visiting his farm in Australia
UAE currency: the story behind the money in your pockets