Belinda Bencic of Switzerland celebrates after winning gold at the Tokyo Olympics. EPA
Belinda Bencic of Switzerland celebrates after winning gold at the Tokyo Olympics. EPA
Belinda Bencic of Switzerland celebrates after winning gold at the Tokyo Olympics. EPA
Belinda Bencic of Switzerland celebrates after winning gold at the Tokyo Olympics. EPA

Belinda Bencic to face Emma Raducanu at the Mubadala World Tennis Championship


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Olympic champion Belinda Bencic has been announced as US Open winner Emma Raducanu's opponent at the Mubadala World Tennis Championship in Abu Dhabi in December.

Former world No 4 Bencic produced some stunning form to win gold in the singles and silver in the doubles in Tokyo this summer.

Her showdown with Raducanu at the Zayed Sports City on Thursday, December 16, will also be a rematch of their US Open quarter-final at Flushing Meadows, which Raducanu won before going on to win the first major of her career.

“Since we introduced the women’s match in 2017, we have welcomed some of the biggest names in the game to compete in Abu Dhabi," said John Lickrish, CEO of organisers Flash Entertainment.

"With that legacy in place, the goal for the Mubadala World Tennis Championship is to keep evolving to ensure we bring our knowledgeable fans the best, unrivalled experiences. With Emma and Belinda confirmed, this year’s match is set to be the most intriguing women’s match in the championship’s history. This is not one to miss."

Belinda Bencic will take on US Open champion Emma Raducanu on Day 1 of the Mubadala World Tennis Championship.
Belinda Bencic will take on US Open champion Emma Raducanu on Day 1 of the Mubadala World Tennis Championship.

Bencic, 24, is looking forward to continuing her career journey, experiencing the game in a new country, and is eager to show her defeat against Raducanu at the US Open was a one-off.

“When I was offered the opportunity to come and explore Abu Dhabi and all the championship has to offer, I was very excited and happy to do it," said the Swiss star.

"It’s great to travel to new places. I’m looking forward to coming, to immerse myself in the many cultures there and interact with all the fans. Emma and I played a great match in New York and I am looking forward to another great battle, this time in Abu Dhabi.”

Tickets are available from ticketmaster.ae and Virgin Megastores across the UAE. In line with current health and safety protocols, social distancing measures will be in place within the stadium and throughout the Tennis Village.

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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.”

2018 ICC World Twenty20 Asian Western Regional Qualifier

Saturday results
Qatar beat Kuwait by 26 runs
Bahrain beat Maldives by six wickets
UAE beat Saudi Arabia by seven wickets

Monday fixtures
Maldives v Qatar
Saudi Arabia v Kuwait
Bahrain v UAE

* The top three teams progress to the Asia Qualifier

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Updated: October 13, 2021, 7:33 AM