• Novak Djokovic takes a selfie with fans after winning his first round match against France's Constant Lestienne at the ATP Adelaide International on January 3, 2023. AFP
    Novak Djokovic takes a selfie with fans after winning his first round match against France's Constant Lestienne at the ATP Adelaide International on January 3, 2023. AFP
  • Novak Djokovic of Serbia celebrates winning his match against Constant Lestienne of France. Getty Images
    Novak Djokovic of Serbia celebrates winning his match against Constant Lestienne of France. Getty Images
  • Serbian tennis player Novak Djokovic takes a selfie with fans after winning his first round match against France's Constant Lestienne at the ATP Adelaide International. AFP
    Serbian tennis player Novak Djokovic takes a selfie with fans after winning his first round match against France's Constant Lestienne at the ATP Adelaide International. AFP
  • Novak Djokovic signs autographs. AFP
    Novak Djokovic signs autographs. AFP
  • Novak Djokovic of Serbia celebrates winning his match against Constant Lestienne of France. Getty Images
    Novak Djokovic of Serbia celebrates winning his match against Constant Lestienne of France. Getty Images
  • Serbia's Novak Djokovic at the net with France's Constant Lestienne. AP Photo
    Serbia's Novak Djokovic at the net with France's Constant Lestienne. AP Photo
  • Serbia's Novak Djokovic signs autographs. AP Photo
    Serbia's Novak Djokovic signs autographs. AP Photo
  • Serbia's Novak Djokovic plays a backhand return to France's Constant Lestienne. AP Photo
    Serbia's Novak Djokovic plays a backhand return to France's Constant Lestienne. AP Photo
  • Supporters of Novak Djokovic hold up a Serbia flag. Getty Images
    Supporters of Novak Djokovic hold up a Serbia flag. Getty Images
  • Serbian tennis player Novak Djokovic serves during his first round match against France's Constant Lestienne. AFP
    Serbian tennis player Novak Djokovic serves during his first round match against France's Constant Lestienne. AFP

'No grudges' for Novak Djokovic as he thanks Australia for the 'love'


Steve Luckings
  • English
  • Arabic

Novak Djokovic said he holds "no grudges" and thanked fans for coming out to see him play in Adelaide as he ramps up preparations for this month's Australian Open.

The Serb was given a warm welcome during Monday's doubles match at the Adelaide International and received similar treatment on a packed centre court as he beat Frenchman Constant Lestienne 6-3, 6-2 on Tuesday in singles action.

Djokovic, 35, is back in Australia a year after being kicked out on the eve of the 2022 Australian Open for not being vaccinated against Covid-19.

He was barred from returning for three years, but the government has since lifted the ban and Djokovic is now free to chase a 10th Australian Open title and a 22nd Grand Slam overall.

"It's great to be back. To see the packed house for my first match was definitely a very pleasant surprise. Lots of support, lots of love," he said at a press conference.

"That obviously motivated me and allowed me to express myself in the best possible way on the court with my game."

"A lot of Serbia flags, I know the Serbian community here in Adelaide is big but I didn't think so many would come and I thank them very much."

Djokovic given a hero's welcome in Adelaide

  • Serbia's Novak Djokovic, centre, poses for a selfie with a fan after his doubles match at the Adelaide International Tennis tournament in Adelaide, Australia, Monday, January 2, 2023. AP Photo
    Serbia's Novak Djokovic, centre, poses for a selfie with a fan after his doubles match at the Adelaide International Tennis tournament in Adelaide, Australia, Monday, January 2, 2023. AP Photo
  • Novak Djokovic poses for a selfie with a fan after his first round doubles match with Canada's Vasek Pospisil at the ATP Adelaide International. AFP
    Novak Djokovic poses for a selfie with a fan after his first round doubles match with Canada's Vasek Pospisil at the ATP Adelaide International. AFP
  • Serbia's Novak Djokovic with fans after losing his first round doubles match with Canada's Vasek Pospisil against Bosnia's Tomislav Brkic and Ecuador's Gonzalo Escobar. Reuters
    Serbia's Novak Djokovic with fans after losing his first round doubles match with Canada's Vasek Pospisil against Bosnia's Tomislav Brkic and Ecuador's Gonzalo Escobar. Reuters
  • Novak Djokovic of Serbia and Vasek Pospisil of Canada compete against against Tomislav Brkic of Bosnia and Herzegovina and Gonzalo Escobar of Ecuador. Getty Images
    Novak Djokovic of Serbia and Vasek Pospisil of Canada compete against against Tomislav Brkic of Bosnia and Herzegovina and Gonzalo Escobar of Ecuador. Getty Images
  • Novak Djokovic in action during his first round doubles match with Canada's Vasek Pospisil against Bosnia's Tomislav Brkic and Ecuador's Gonzalo Escobar. Reuters
    Novak Djokovic in action during his first round doubles match with Canada's Vasek Pospisil against Bosnia's Tomislav Brkic and Ecuador's Gonzalo Escobar. Reuters
  • A fan watches through a fence the first round doubles match between Serbia's Novak Djokovic and Canada's Vasek Pospisil against Bosnia's Tomislav Brkic and Ecuador's Gonzalo Escobar. Reuters
    A fan watches through a fence the first round doubles match between Serbia's Novak Djokovic and Canada's Vasek Pospisil against Bosnia's Tomislav Brkic and Ecuador's Gonzalo Escobar. Reuters
  • Novak Djokovic of Serbia in action. EPA
    Novak Djokovic of Serbia in action. EPA
  • Novak Djokovic of Serbia signs autographs for fans. EPA
    Novak Djokovic of Serbia signs autographs for fans. EPA
  • Fans watch Serbia's Novak Djokovic in action during his first round doubles match with Canada's Vasek Pospisil against Bosnia's Tomislav Brkic and Ecuador's Gonzalo Escobar. Reuters
    Fans watch Serbia's Novak Djokovic in action during his first round doubles match with Canada's Vasek Pospisil against Bosnia's Tomislav Brkic and Ecuador's Gonzalo Escobar. Reuters
  • Serbian tennis player Novak Djokovic hits a return during his first round doubles match with Canadian Vasek Pospisil. AFP
    Serbian tennis player Novak Djokovic hits a return during his first round doubles match with Canadian Vasek Pospisil. AFP
  • Novak Djokovic hits a return. AFP
    Novak Djokovic hits a return. AFP
  • Novak Djokovic reacts to winning a point. AFP
    Novak Djokovic reacts to winning a point. AFP
  • Novak Djokovic and Vasek Pospisil talk tactics. AFP
    Novak Djokovic and Vasek Pospisil talk tactics. AFP
  • Novak Djokovic plays a return shot during his doubles match against Bosnia's Tomislav Brkic and Ecuador's Gonzalo Escobar at the Adelaide International Tennis tournament. AP Photo
    Novak Djokovic plays a return shot during his doubles match against Bosnia's Tomislav Brkic and Ecuador's Gonzalo Escobar at the Adelaide International Tennis tournament. AP Photo
  • Novak Djokovic poses for a selfie with a young fan. AP Photo
    Novak Djokovic poses for a selfie with a young fan. AP Photo
  • Fans of Novak Djokovic hold a sign during the doubles match at the Adelaide International Tennis tournament. AP Photo
    Fans of Novak Djokovic hold a sign during the doubles match at the Adelaide International Tennis tournament. AP Photo
  • Serbia's Novak Djokovic reacts during his doubles match against Tomislav Brkic of Bosnia and Ecuador's Gonzalo Escobar. AP Photo
    Serbia's Novak Djokovic reacts during his doubles match against Tomislav Brkic of Bosnia and Ecuador's Gonzalo Escobar. AP Photo
  • Canada's Vasek Pospisil and Serbia's Novak Djokovic talk tactics. AP Photo
    Canada's Vasek Pospisil and Serbia's Novak Djokovic talk tactics. AP Photo
  • Novak Djokovic plays a return shot. AP Photo
    Novak Djokovic plays a return shot. AP Photo
  • Serbia's Novak Djokovic reacts with Canada's Vasek Pospisil. AP Photo
    Serbia's Novak Djokovic reacts with Canada's Vasek Pospisil. AP Photo

Last year's Australian Open was overshadowed by Djokovic being put on a plane on the eve of the contest after a high-stakes legal battle over his visa status.

It left a bitter taste, but he held "no grudges" and had moved on.

"It was different coming to Australia this year than any other year basically because of the events of 12 months ago," he said.

"But at the same time, 12 months is also a long time ago, already it is behind me, I've moved on and looking forward.

"There's no reason to focus on ... what you focus on is what you become, if you focus on the negatives that is what you'll become, so I don't want to do that.

"I don't hold a grudge, I'm here to play tennis, to enjoy sports and spread good energy."

The Australian Open is the first Grand Slam of the year and kicks off at Melbourne Park from January 16.

Djokovic made light work of his match against Lestienne, completing his routine victory in 74 minutes, breaking once in the first set and twice in the second.

"For the first match I can't complain, I played very well," Djokovic said. "I thought the first probably six games were very competitive.

"I've never faced him before today's match. He's a counter-puncher. He doesn't make too many mistakes and he kind of absorbs the pace from his opponent, kind of tricky serve, hits his spots.

"But once I made that break at 3-2 first set I felt like I stepped it up one or two levels and played really good tennis the rest of the match."

The biogs

Name: Zinah Madi

Occupation: Co-founder of Dots and links

Nationality: Syrian

Family: Married, Mother of Tala, 18, Sharif, 14, Kareem, 2

Favourite Quote: “There is only one way to succeed in anything, and that is to give it everything.”

 

Name: Razan Nabulsi

Occupation: Co-founder of Dots and Links

Nationality: Jordanian

Family: Married, Mother of Yahya, 3.5

Favourite Quote: A Chinese proverb that says: “Be not afraid of moving slowly, be afraid only of standing still.”

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Company Profile 

Founder: Omar Onsi

Launched: 2018

Employees: 35

Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

More from Armen Sarkissian
INDIA SQUAD

Rohit Sharma (captain), Shikhar Dhawan (vice-captain), KL Rahul, Suresh Raina, Manish Pandey, Dinesh Karthik (wicketkeeper), Deepak Hooda, Washington Sundar, Yuzvendra Chahal, Axar Patel, Vijay Shankar, Shardul Thakur, Jaydev Unadkat, Mohammad Siraj and Rishabh Pant (wicketkeeper)

THE DRAFT

The final phase of player recruitment for the T10 League has taken place, with UAE and Indian players being drafted to each of the eight teams.

Bengal Tigers
UAE players: Chirag Suri, Mohammed Usman
Indian: Zaheer Khan

Karachians
UAE players: Ahmed Raza, Ghulam Shabber
Indian: Pravin Tambe

Kerala Kings
UAE players: Mohammed Naveed, Abdul Shakoor
Indian: RS Sodhi

Maratha Arabians
UAE players: Zahoor Khan, Amir Hayat
Indian: S Badrinath

Northern Warriors
UAE players: Imran Haider, Rahul Bhatia
Indian: Amitoze Singh

Pakhtoons
UAE players: Hafiz Kaleem, Sheer Walli
Indian: RP Singh

Punjabi Legends
UAE players: Shaiman Anwar, Sandy Singh
Indian: Praveen Kumar

Rajputs
UAE players: Rohan Mustafa, Ashfaq Ahmed
Indian: Munaf Patel

HUNGARIAN GRAND PRIX RESULT

1. Sebastian Vettel, Ferrari 1:39:46.713
2. Kimi Raikkonen, Ferrari 00:00.908
3. Valtteri Bottas, Mercedes-GP 00:12.462
4. Lewis Hamilton, Mercedes-GP 00:12.885
5. Max Verstappen, Red Bull Racing 00:13.276
6. Fernando Alonso, McLaren 01:11.223
7. Carlos Sainz Jr, Toro Rosso 1 lap
8. Sergio Perez, Force India 1 lap
9. Esteban Ocon, Force India  1 lap
10. Stoffel Vandoorne, McLaren 1 lap
11. Daniil Kvyat, Toro Rosso 1 lap
12. Jolyon Palmer, Renault 1 lap
13. Kevin Magnussen, Haas 1 lap
14. Lance Stroll, Williams 1 lap
15. Pascal Wehrlein, Sauber 2 laps
16. Marcus Ericsson, Sauber 2 laps
17r. Nico Huelkenberg, Renault 3 laps
r. Paul Di Resta, Williams 10 laps
r. Romain Grosjean, Haas 50 laps
r. Daniel Ricciardo, Red Bull Racing 70 laps

THE BIO

Ms Al Ameri likes the variety of her job, and the daily environmental challenges she is presented with.

Regular contact with wildlife is the most appealing part of her role at the Environment Agency Abu Dhabi.

She loves to explore new destinations and lives by her motto of being a voice in the world, and not an echo.

She is the youngest of three children, and has a brother and sister.

Her favourite book, Moby Dick by Herman Melville helped inspire her towards a career exploring  the natural world.

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Ogram%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Karim%20Kouatly%20and%20Shafiq%20Khartabil%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20On-demand%20staffing%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2050%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3EMore%20than%20%244%20million%3Cbr%3E%3Cstrong%3EFunding%20round%3A%3C%2Fstrong%3E%20Series%20A%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%2C%20Aditum%20and%20Oraseya%20Capital%3Cbr%3E%3C%2Fp%3E%0A
The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

From Europe to the Middle East, economic success brings wealth - and lifestyle diseases

A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.

One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait,  Qatar and Oman – and second on the list in Bahrain.

In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.

The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.

And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.

 

Tightening the screw on rogue recruiters

The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.

 Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.

A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.

The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.

The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.

Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.

Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment

But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.

Kanye%20West
%3Cp%3EYe%20%E2%80%94%20the%20rapper%20formerly%20known%20as%20Kanye%20West%20%E2%80%94%20has%20seen%20his%20net%20worth%20fall%20to%20%24400%20million%20in%20recent%20weeks.%20That%E2%80%99s%20a%20precipitous%20drop%20from%20Bloomberg%E2%80%99s%20estimates%20of%20%246.8%20billion%20at%20the%20end%20of%202021.%3Cbr%3EYe%E2%80%99s%20wealth%20plunged%20after%20business%20partners%2C%20including%20Adidas%2C%20severed%20ties%20with%20him%20on%20the%20back%20of%20anti-Semitic%20remarks%20earlier%20this%20year.%3Cbr%3EWest%E2%80%99s%20present%20net%20worth%20derives%20from%20cash%2C%20his%20music%2C%20real%20estate%20and%20a%20stake%20in%20former%20wife%20Kim%20Kardashian%E2%80%99s%20shapewear%20firm%2C%20Skims.%3C%2Fp%3E%0A
The team

Videographer: Jear Velasquez 

Photography: Romeo Perez 

Fashion director: Sarah Maisey 

Make-up: Gulum Erzincan at Art Factory 

Models: Meti and Clinton at MMG 

Video assistant: Zanong Maget 

Social media: Fatima Al Mahmoud  

Results

6.30pm Madjani Stakes Rated Conditions (PA) I Dh160,000 1,900m I Winner: Mawahib, Tadhg O’Shea (jockey), Eric Lemartinel (trainer)

7.05pm Maiden Dh150,000 1,400m I Winner One Season, Antonio Fresu, Satish Seemar

7.40pm: Maiden Dh150,000 2,000m I Winner Street Of Dreams, Pat Dobbs, Doug Watson

8.15pm Dubai Creek Listed Dh250,000 1,600m I Winner Heavy Metal, Royston Ffrench, Salem bin Ghadayer

8.50pm The Entisar Listed Dh250,000 2,000m I Winner Etijaah, Dane O’Neill, Doug Watson

9.25pm The Garhoud Listed Dh250,000 1,200m Winner Muarrab, Dane O’Neill, Ali Rashid Al Raihe

10pm Handicap Dh160,000 1,600m Winner Sea Skimmer, Patrick Cosgrave, Helal Al Alawi

Racecard

5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,600m

5.30pm: Wathba Stallions Cup – Maiden (PA) Dh70,000 (T) 1,600m

6pm: Emirates Fillies Classic – Prestige (PA) Dh100,000 (T) 1,600m

6.30pm: Emirates Colts Classic – Prestige (PA) Dh100,000 (T) 1,600m

7pm: The President’s Cup – Group 1 (PA) Dh2,500,000 (T) 2,200m

7.30pm: The President’s Cup – Listed (TB) Dh380,000 (T) 1,400m

TWISTERS

Director: Lee Isaac Chung

Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos

Rating: 2.5/5

RESULTS

Catchweight 82kg
Piotr Kuberski (POL) beat Ahmed Saeb (IRQ) by decision.

Women’s bantamweight
Corinne Laframboise (CAN) beat Cornelia Holm (SWE) by unanimous decision.

Welterweight
Omar Hussein (PAL) beat Vitalii Stoian (UKR) by unanimous decision.

Welterweight
Josh Togo (LEB) beat Ali Dyusenov (UZB) by unanimous decision.

Flyweight
Isaac Pimentel (BRA) beat Delfin Nawen (PHI) TKO round-3.

Catchweight 80kg​​​​​​​
Seb Eubank (GBR) beat Emad Hanbali (SYR) KO round 1.

Lightweight
Mohammad Yahya (UAE) beat Ramadan Noaman (EGY) TKO round 2.

Lightweight
Alan Omer (GER) beat Reydon Romero (PHI) submission 1.

Welterweight
Juho Valamaa (FIN) beat Ahmed Labban (LEB) by unanimous decision.

Featherweight
Elias Boudegzdame (ALG) beat Austin Arnett (USA) by unanimous decision.

Super heavyweight
Maciej Sosnowski (POL) beat Ibrahim El Sawi (EGY) by submission round 1.

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

UAE currency: the story behind the money in your pockets

In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff

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.”

UAE currency: the story behind the money in your pockets

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

Specs

Engine: 2-litre

Transmission: Eight-speed automatic

Power: 255hp

Torque: 273Nm

Price: Dh240,000

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
Five personal finance podcasts from The National

 

To help you get started, tune into these Pocketful of Dirham episodes 

·

Balance is essential to happiness, health and wealth 

·

What is a portfolio stress test? 

·

What are NFTs and why are auction houses interested? 

·

How gamers are getting rich by earning cryptocurrencies 

·

Should you buy or rent a home in the UAE?  

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FIGHT%20CARD
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Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Belong%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Michael%20Askew%20and%20Matthew%20Gaziano%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Technology%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20%243.5%20million%20from%20crowd%20funding%20and%20angel%20investors%3Cstrong%3E%3Cbr%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3C%2Fp%3E%0A
'The Lost Daughter'

Director: Maggie Gyllenhaal

Starring: Olivia Colman, Jessie Buckley, Dakota Johnson

Rating: 4/5

Zidane's managerial achievements

La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017

South and West: From a Notebook
Joan Didion
Fourth Estate 

Updated: January 03, 2023, 8:42 AM