Sebastian Vettel and Fernando Alonso have lot of points to discuss for the new season even with rival teams Red Bull and Ferrari. Hans Klaus / EPA
Sebastian Vettel and Fernando Alonso have lot of points to discuss for the new season even with rival teams Red Bull and Ferrari. Hans Klaus / EPA
Sebastian Vettel and Fernando Alonso have lot of points to discuss for the new season even with rival teams Red Bull and Ferrari. Hans Klaus / EPA
Sebastian Vettel and Fernando Alonso have lot of points to discuss for the new season even with rival teams Red Bull and Ferrari. Hans Klaus / EPA

Seeking answers to what lies ahead for teams in the 2014 Formula One season


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Q. Are Sebastian Vettel and Red Bull really as far behind on their preparations as they appear?

A. With the exception of Marussia and Lotus, the latter of which missed the first test, no team completed fewer laps than Red Bull Racing this preseason. Vettel and teammate Daniel Ricciardo had persistent issues with their Renault engine, as well as front-end mechanical problems as the four-time constructors' champions struggled to get ready for this weekend's season-opening race in Melbourne.

On the penultimate day of testing in Bahrain earlier this month, Vettel managed just four corners and a stretch of pit-lane; the following day, his car failed him and he spun off after 44 laps. While the German is a master of downplaying his chances, there seems a sense of genuine concern when he says success in Australia will simply be “getting to the finish line”.

With Renault copping much of the blame, Helmut Marko, the Red Bull adviser, said his marque are “at least two months” behind schedule. Christian Horner downgraded the alarm bells with a more optimistic evaluation of being “10 days behind”.

Ricciardo did at one stage show the car can be competitive pace-wise, but if the reliability is not there by Sunday, any hopes of collecting points let alone a podium will be a distant dream. Yet with the genius of Adrian Newey operating from the garage and the sport’s youngest four-time champion behind the wheel, Red Bull can never be discounted.

Interactive: the new rule changes

Q. What now for Lotus?

A. Lotus have taken 24 podiums in the past two seasons, but having lost their technical director, their lead driver and their team principal in quick succession, this year promises to be make or break for the Oxford-based marque.

First, Romain Grosjean must step up as lead driver following the departure of Kimi Raikkonen to Ferrari. Gerard Lopez, the team owner and man who replaced Eric Boullier as team principal, rates Grosjean as one of the best drivers in the paddock. But while he performed well at the tail end of last season, the Frenchman has yet to win a grand prix. Pastor Maldonado, the team’s new recruit from Williams, must also iron out his moments of madness.

The loss of Raikkonen will hurt, but arguably more disappointing will be the departure of Boullier, the French team principal who defected to McLaren-Mercedes. Boullier, an unflappable and calm presence in the paddock, was building Lotus into a real challenger and was expected to continue this season. Does his departure set the entire project back? Lopez, together with new technical director Nick Chester, will hope not.

With Lotus – like Red Bull – reliant on Renault engines, Chester acknowledges it could take his team a couple of races to catch up with the likes of Mercedes, the early favourites. If things have not clicked by the time the F1 circus arrives in Bahrain in April, it could be a long season for the black and gold.

Q. Is this the year of Williams' renaissance?

A. Williams have won just one race in nine years and not claimed the constructors’ championship since 1997. The past three seasons have been largely forgettable save for Maldonado’s surprise victory at the 2012 Spanish Grand Prix, and the marque reached its nadir when, approaching the end of the worst season in the team’s history, their Venezuelan driver accused his team of sabotage.

Yet this could be the season when Williams return to the limelight. Maldonado has gone, replaced by Felipe Massa, the Brazilian who came within a lap of the 2008 world championship. The team have also signed an engine partnership with Mercedes, who appear to have the best power unit of the sport’s three suppliers. Add to that Pat Symonds, the chief technical officer who arrived last summer, and Felipe Nasr who has joined as reserve driver and helped attract more sponsors, and Williams are well placed to, initially at least, to return to the front end of the grid.

Massa and teammate Valtteri Bottas clocked up more than 4,800 kilometres during pre-season testing, with Massa finishing top of the time sheets during the final test in Bahrain. With a tight budget, they are likely to find their rival teams outspending them as the season evolves, but if they can carry their preseason form into Melbourne at least, Williams could be set to grab some early headlines.

Q. Can Raikkonen and Alonso maintain harmony for the greater good at Ferrari?

A. Fernando Alonso has had everything his own way since moving to Ferrari in 2010. As the Italian marque’s lead driver, Alonso has been the sole focus of car development and benefited repeatedly from team orders. It has yet to bring him a third title, but he has finished second behind Vettel in three of the past four years.

Second-best is not good enough for a team such as Ferrari. When Stefano Domenicali, the team principal, announced the recruitment of 2007 champion Raikkonen, it showed ambition but it also immediately sparked questions as to whether the two lead drivers could coexist in such a competitive environment.

All those inside Maranello insist it will not be an issue, but the teammates have yet to lock horns in the white heat of battle. When Alonso raced alongside a competitive Lewis Hamilton at McLaren, the relationship ended acrimoniously. The Spaniard is older and wiser now and he will know that in Raikkonen he has a teammate deserving of respect.

The two drivers share three world drivers’ championships between them, though only Raikkonen has won with Ferrari. There is no doubt they are the strongest driver pairing in the sport. How each reacts to being beaten by their teammate – and how much they are willing to sacrifice for the benefit of the team – could determine whether Ferrari end their five-year barren spell without a title.

Q. Will Force India prove a dark horse and gallop up the field?

A. With Nico Hulkenberg and Sergio Perez recruited in the off-season, Force India boast arguably the strongest driver line-up not to include a world champion. The team have enjoyed a fruitful preseason where reliability has proved solid and they managed to accumulate the second highest number of laps during the final test in Bahrain.

Powered by Mercedes, Force India should have the engine to muscle their way further up the grid and could even fight for race wins at the start of the season should the likes of Red Bull and Lotus fail to get their acts together. For a team whose best result in six years is fourth, this could be the season when they take a giant leap in the right direction.

gmeenaghan@thenational.ae

Follow us on Twitter at SprtNationalUAE

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

How it works

A $10 hand-powered LED light and battery bank

Device is operated by hand cranking it at any time during the day or night 

The charge is stored inside a battery

The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode

A full hand wound charge is of 16.5minutes 

This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode

When more light is needed, it can be recharged by winding again

The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge

No limit on how many times you can charge

 

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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.”

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