Bruce Raymond on Warren Hill, watching his horses go through their paces with David Simock, one of 19 trainers employed by Rabbah Bloodstock.
Bruce Raymond on Warren Hill, watching his horses go through their paces with David Simock, one of 19 trainers employed by Rabbah Bloodstock.

Taking care of the UAE business



Bruce Raymond has never heard of Malcolm Gladwell, the American writer who, in his 2005 book Blink, put forward the theory of "thin-slicing". The irony is thick because during Raymond's 48-year career in racing as a top jockey and, now, racing manager, he has virtually lived by the thin-slicing principle: the theory that the human mind can size up a situation by skimming the unconscious for information that is necessary to make an instantaneous and correct decision.

It is 6.30am, and we are standing on Warren Hill, one of the prime gallops in Newmarket, the headquarters of British thoroughbred racing. Strings of racehorses queue up in the morning sunlight to be put through their paces up the punishing hill that has built up thoroughbred muscle for hundreds of years. As each horse flashes by, onlookers cannot help but consider that, without a famous jockey on board, racing silks and a race card number to guide us, they all look the same: brown.

"It's like being a teacher," Raymond said. "You spend so much time with them that you get to know them. You work on feeling with racehorses. It's like looking at your class and knowing that one of them has a snotty nose, or being a husband who thinks his wife's hair looks a bit dry. You can just tell these things." Raymond's small stature and his ability to size up a situation at speed were the perfect blend for becoming a jockey. Although in 1962, aged 19, he became a champion apprentice with 13 winners, he never quite reached the top bracket, reserved for the likes of Lester Piggott, Pat Eddery and Walter Swinburn. It meant that he was forever locked in a struggle for the best mounts, and often had to study the lesser cards to unearth the best opportunities.

"For a jockey, racing is a constant fight," Raymond said. "You are never able to sit on your laurels because there is always someone chasing your rides. A trainer is always going to give his best horses to the best jockeys." Raymond's riding career continued into his 50s, and in 1993 he rode his best Derby at Epsom to finish second aboard Blue Judge, a rank outsider owned by Sheikh Maktoum bin Rashid Al Maktoum, the former Vice President and Prime Minister of the UAE and Ruler of Dubai. A year later, however, his riding career was over. After a horrific fall in Germany, where he broke his neck, Raymond retired to become the assistant to another former jockey, Joe Mercer, who was the racing manager at Sheikh Maktoum's Gainsborough stud. Their experience in the saddle proved crucial to understanding how good a horse could be and the best races in the calendar for them - core skills for a racing manager.

Following the death of Sheikh Maktoum in 2006, it was decided by his brother Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and his bloodstock advisor, John Ferguson, that it would be easier to manage the racing and breeding interests of his associates under one management system. Rabbah Bloodstock was born, and now Raymond looks after the racing interests of up to 29 owners, made up of UAE businessmen and friends of Sheikh Mohammed.

"It's completely different to being a jockey, but I do know a little bit about horses and I know a little about diplomacy," he said. "You should know about how to talk to owners by my age and when to say yes and when to say no." Raymond oversees a huge operation comprising around 400 horses in training worldwide. From the moment Rabbah thoroughbreds are foaled or bought, until they are retired to stud or sold, Raymond's job is to manage the career of each horse. He works with trainers and the organisation's bloodstock advisor, Jonathan Mills, on a daily basis, monitoring the progress of each horse and making notes that help create a picture of the perfect racing conditions for each animal.

"I think after three runs you should know how a horse should be ridden and therefore you should be able to give a jockey advice; whether a horse needs to be leading, or needs to be held up. "For me, though, the hardest thing in racing is finding out the right distance for a horse. There are plenty of horses that should stay a trip, but they are slow. So the natural progression is that you put them over further, but it doesn't mean that they will stay further, it just means they are slow."

In Britain, the Rabbah string numbers around 250, and is spread around 19 trainers including Sir Michael Stoute, Mick Channon, Brian Meehan and Michael Jarvis. Raymond's remit also is to discover new training talent, and he has sent horses to rising stars David Simcock and David Lanigan. Lanigan took out a training licence at the end of 2007, having worked as an assistant to Henry Cecil for five years.

"I was very fortunate to be introduced to Saif Ali and Saeed al Tayer," Lanigan said in his cramped office at Revida Place between morning gallops. "It's been very good for us here in the sense that there are a limited amount of owners in England, and the economy is going through a difficult time. Rabbah has been a real kick-start for me." Al Tayer is the chairman of Meydan racecourse, and along with Ali, an owner who has also trained camels, the pair sent Lanigan horses in 2008. Wannabe King won on his second start, and that led to a fruitful association which resulted in Lanigan sending out Meeznah to finish second in the Oaks at Epsom and fourth in the Irish Oaks last weekend, both times behind Snow Fairy.

"Meeznah is better than she ran in Ireland," Lanigan said. "I'm convinced she'll win a group race this year. There's lots of options because she stays so well. Perhaps the Park Hill at Doncaster, or even the Lillie Langtry at Goodwood next week ?" In the first exhibition of how the manager-trainer relationship works, Raymond said: "I'd imagine the Yorkshire Oaks or the St Leger to take on Snow Fairy again would be her best target. That filly might get a puncture or something!"

Raymond later explained the delicate balance he maintains between himself, the trainers and the owners. "I talk about the plans with the trainers, then I discuss it with the owners. My owners are usually open to suggestions, but the ultimate decision is with them - after all, it's their horse. "Of course there are owners that will say: 'I want my horse to run on a Saturday on an uphill track because my wife and aunt are coming over,' but mine are thankfully not like that."

Although Ali has invested in juvenile stock recently, Saeed Manana, Saeed Suhail, Mohammed Obaida and Jaber Abdullah are the owners better known for having Raymond train their horses. Unlike Godolphin, or Aidan O'Brien's Ballydoyle stable, however, Raymond tries very hard to keep the Rabbah horses apart at the races. "One trainer might come and say to me 'I want my horse to run in this race,' but I'm in the position to tell him that Rabbah has a better one with another trainer, so they won't win."

In his four years at the helm, Raymond has delivered a greater return of winners every season. Last year Rabbah recorded 131 victories, and so it is with a raised eyebrow that the Newmarket rumour mill has suggested that Rabbah may be wound down due to the economic climate in Dubai. For the record, Raymond believes that the operation is "far too big to be closed". But the rumour underlines that Britain's racing industry relies far too heavily on the power of UAE money. In 2004, Sheikh Mohammed bought Dalham Hall, the Grade II listed property that goes with the stud of the same name that he purchased in 1981. The 3,300 acres of farmland, as well as the 39 cottages, cost him £45 million (Dh252.9m). Along with the stud, estimates price the Dalham Hall holding to be worth more than £100m.

"Without Sheikh Mohammed, Newmarket would collapse," Raymond said. "It would recover without the Dubai owners, but it would take two generations to do it and it wouldn't be the same. All the foreign labour would have to go home because there would be no employment for them. "Sure, Russians or other Middle Eastern families could afford such prices, but the Russians don't do it with as much style as the UAE families, and after them there is no one else to invest at such levels, is there?

"I think people take Sheikh Mohammed for granted now. There's talk of a statue of King Charles II going up in the town centre, but I think that they should consider a statue of Sheikh Mohammed, he's done so much." Whatever the future holds for Raymond, he has settled into Newmarket for good. When he arrived as a teenager, there were 1,500 horses in training. There are double that number now. "I'm not a celebrity, but I can go into a shop and people know who I am. It has its uses, because if I forget my money they know me well enough that I can arrange to pay them the next time I go in there." Even the shopkeepers in this sleepy, racing-obsessed Suffolk town work to Gladwell's theory of "thin-slicing". They can judge instantly a modest and likeable man when they see one. @Email:sports@thenational.ae

Some of the more prominent Rabbah owners and their most famous horses: Saeed Manana The biggest owner under the Rabbah umbrella, Manana famously had a winner at the Cheltenham Festival over jumps in 1992 (Thetford Forest). Best horse was Luso, who won the Hong Kong international in 1996 and 1997, as well as the globe-trotting Warrsan, who doubled up in the Coronation Cup in 2004. Zaidan, who is trained by Clive Brittain and won at Royal Ascot in June, is his flag-bearer this season. Saeed Suhail The most successful owner in terms of prestigious races won to ratio of runners, Suhail won the Derby at Epsom with Kris Kin in 2003 and the 2,000 Guineas with King's Best in 2000. Has horses with Jeremy Noseda and Sir Michael Stoute. Mohamed Obaida Owned Sayyedati, who won the 1,000 Guineas, the Prix Jacques le Marois and who successfully took on the colts when winning the Sussex Stakes in 1995. Watch out this season for his Electra Star, a Shamardal filly trained by Willie Haggas. Jaber Abdullah Has had great success with fillies, having owned Queen's Logic, who won the Group 1 Cheveley Park Stakes in 2001, as well as Majestic Roi, Lady Of The Desert and Music Show, who won the Falmouth Stakes earlier this month. Owns Youmzain, who contests the Group 1 King George and Queen Elizabeth Stakes at Ascot this afternoon. Saif Ali and Saeed al Tayer Both owners have runners in their own colours, but the pair have been most successful with Meeznah, who placed in the Oaks at Epsom and finished fourth in the Irish Oaks at the Curragh. Meeznah could also contest the Yorkshire Oaks next month.

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In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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THE BIO

Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.

Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.

Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.

Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.

 

 

Bio

Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro

If you go

Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.

Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com

A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com

Citadel: Honey Bunny first episode

Directors: Raj & DK

Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

Rating: 4/5

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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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.
COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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The Buckingham Murders

Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

Rating: 4 / 5

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

Abdul Jabar Qahraman was meeting supporters in his campaign office in the southern Afghan province of Helmand when a bomb hidden under a sofa exploded on Wednesday.

The blast in the provincial capital Lashkar Gah killed the Afghan election candidate and at least another three people, Interior Minister Wais Ahmad Barmak told reporters. Another three were wounded, while three suspects were detained, he said.

The Taliban – which controls much of Helmand and has vowed to disrupt the October 20 parliamentary elections – claimed responsibility for the attack.

Mr Qahraman was at least the 10th candidate killed so far during the campaign season, and the second from Lashkar Gah this month. Another candidate, Saleh Mohammad Asikzai, was among eight people killed in a suicide attack last week. Most of the slain candidates were murdered in targeted assassinations, including Avtar Singh Khalsa, the first Afghan Sikh to run for the lower house of the parliament.

The same week the Taliban warned candidates to withdraw from the elections. On Wednesday the group issued fresh warnings, calling on educational workers to stop schools from being used as polling centres.

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What%20is%20cystic%20fibrosis%3F
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the pledge

I pledge to uphold the duty of tolerance

I pledge to take a first stand against hate and injustice

I pledge to respect and accept people whose abilities, beliefs and culture are different from my own

I pledge to wish for others what I wish for myself

I pledge to live in harmony with my community

I pledge to always be open to dialogue and forgiveness

I pledge to do my part to create peace for all

I pledge to exercise benevolence and choose kindness in all my dealings with my community

I pledge to always stand up for these values: Zayed's values for tolerance and human fraternity

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.”

Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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The specs

Engine: 4-litre twin-turbo V8

Transmission: eight-speed PDK

Power: 630bhp

Torque: 820Nm

Price: Dh683,200

On sale: now

Score

New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs 

New Zealand win by 47 runs

New Zealand lead three-match ODI series 1-0

Next match: Zayed Cricket Stadium, Abu Dhabi, Friday

The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

On sale: Now

The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
No%20Windmills%20in%20Basra
%3Cp%3EAuthor%3A%20Diaa%20Jubaili%3C%2Fp%3E%0A%3Cp%3EPages%3A%20180%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%20Deep%20Vellum%20Publishing%C2%A0%3C%2Fp%3E%0A
Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
Company%20Profile
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Company%20Profile
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