Jan-Lennard Struff of Germany beat Casper Ruud of Norway at the Monte Carlo Masters. EPA
Jan-Lennard Struff of Germany beat Casper Ruud of Norway at the Monte Carlo Masters. EPA
Jan-Lennard Struff of Germany beat Casper Ruud of Norway at the Monte Carlo Masters. EPA
Jan-Lennard Struff of Germany beat Casper Ruud of Norway at the Monte Carlo Masters. EPA

Struff regains his touch to stun Ruud and reach Monte Carlo Masters quarter-finals


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German qualifier Jan-Lennard Struff upset fourth-seeded Casper Ruud 6-1, 7-6 (8-6) to reach the quarter-finals of the Monte Carlo Masters on Thursday.

Ranked 29th in the world, Struff dropped as low as No 168 after sustaining a foot fracture last year in Miami, an injury that left him sidelined for more than two months.

Struff has enjoyed a good start to the season and returned to the top 100 last month but had not beaten anyone in the top 10 since June 2021.

On Thursday, his aggressive style of play resulted in 37 winners and 23 points won at the net against Ruud, who dropped his serve four times and saw his nine-match winning streak on clay come to an end. The 2022 French Open runner-up had won his past two tournaments on the surface, in Gstaad last July and in Estoril last week.

Struff will next be up against 2021 runner-up Andrey Rublev, who beat Karen Khachanov 7-6 (7-4), 6-2.

“We know each other too well," Rublev said. "The first set was only mental. We didn’t show some tennis skills. But it was tough to show skills because the wind was really hard and the court was slippery and it was tough to do something.”

Meanwhile, Jannik Sinner was made to toil by Hubert Hurkacz as the Italian seventh seed saved a match point to seal a 3-6, 7-6 (8-6), 6-1 victory and book his spot in the last eight.

Watched on by sprint great Usain Bolt in the stands, Hurkacz raced to a 3-0 lead before Sinner got on the board and the world No 13 wobbled towards the end of the opening set before wrapping it up with two fiery first serves.

Sinner, a Monaco quarter-finalist last year as well, found himself in more hot water shortly after the second set began but the 21-year-old hit back after dropping serve to grab a break and level at 2-2.

Hurkacz raised his game to force a tiebreak and looked in control but the scrappy Sinner saved a match point and dragged the contest into a decider. The Italian then got his nose in front and held firm to complete the win as Hurkacz faded.

“Playing against him, I knew already from the beginning that it was very tough to get into the rhythm," Sinner said. “I think he served incredible in the first one and a half sets, and when I broke him the first time the momentum changed a little bit.”

Sixth-seeded Holger Rune advanced to the quarter-finals without playing when Matteo Berrettini withdrew due to an injury

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Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

Leap of Faith

Michael J Mazarr

Public Affairs

Dh67
 

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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Most sought after workplace benefits in the UAE
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What is Reform?

Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.

It was founded in 2018 and originally called the Brexit Party.

Many of its members previously belonged to UKIP or the mainstream Conservatives.

After Brexit took place, the party focused on the reformation of British democracy.

Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.

The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.

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PROFILE BOX

Company name: Overwrite.ai

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Funding stage: Seed funding, in talks with angel investors

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

UAE currency: the story behind the money in your pockets
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Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

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Updated: April 14, 2023, 9:13 AM