Novak Djokovic, fuelled by an emotional Olympic triumph, has new Grand Slam records in his sights at the US Open, where title rival Jannik Sinner hopes to shake off a doping controversy.
Defending champion Djokovic can become the oldest Open era champion at the tournament if he secures a fifth title in New York, a record he would share with Jimmy Connors, Pete Sampras and Roger Federer.
The 37-year-old Serb would also move to 25 Grand Slam trophies, taking him clear of the record 24 he currently shares with Margaret Court.
The final Grand Slam of the year comes at a critical time for Djokovic. This year he was succeeded as Australian Open champion by Sinner who also relieved him of his world No 1 ranking. Carlos Alcaraz took his French Open title with the Spaniard then sweeping Djokovic aside in a one-sided Wimbledon final.
However, Djokovic, returned to the clay courts of Roland Garros to defeat Alcaraz in the Olympic final in what he called "the greatest highlight of my career, winning the gold for Serbia."
Djokovic became just the fifth player to complete a career Golden Slam of all four majors and Olympic gold. The victory also silenced the increasing number of doubters who had written off the Serb as a spent force in a new era where Sinner, 23, and 21-year-old Alcaraz are steadily moving centre stage.
"At 37 I thought, you know, I don't know, could this be the last chance? Maybe. So I had to push more than I have ever done," said Djokovic, who underwent surgery on his knee in June. "Turned out to be one of the best performances I had in years overall throughout the entire tournament.
"Of course in the finals against Carlos, it was kind of a dream scenario really, having my wife and children there, the entire nation watching."
When they hung the gold around his neck and the Serbia anthem played, Djokovic said it was "probably the most intense emotions I have ever had on a tennis court."
Sinner, meanwhile, arrives after an emotionally draining doping investigation, in which he escaped a lengthy ban after officials accepted his explanation that the banned substance entered his system as a result of contamination from a support team member.
The Italian had twice tested positive for clostebol, a banned anabolic agent, back in March. The International Tennis Integrity Agency announced this week he had been cleared of wrongdoing – a day after he won the Cincinnati Masters.
"I'm just happy that it's finally out," said Sinner, who fired his physiotherapist and trainer in the wake of the affair.
But his hopes for "clean air" at the US Open could be dashed as players question why there was never any announcement of a provisional suspension as the investigation proceeded.
"This, I can't really control," Sinner said. "So let's see."
Alcaraz, who won his first major at the US Open in 2022, was badly bruised by his defeat to Djokovic in the Olympic final. He broke down in tears on court and said he felt he had "let Spain down".
He lost his cool in a second-round exit at Cincinnati and tweaked an ankle in practice at Flushing Meadows, but insisted he'd be "100 per cent" for his first-round match on Tuesday.
Defending women's champion Coco Gauff has endured a worrying dip in form in recent weeks, raising doubts over whether she could become the first woman since Serena Williams in 2014 to successfully defend her US Open crown.
A stormy third-round exit from the Olympics was followed by early defeats in Toronto and Cincinnati.
Five-time major winner and world No 1 Iga Swiatek, the 2022 champion, made the Cincinnati semi-finals where she was defeated by Aryna Sabalenka.
Sabalenka, the Australian Open champion and runner-up to Gauff in New York last year, is another contender in a wide-open field that also features Wimbledon winner Barbora Krejcikova and Olympic gold medallist Zheng Qinwen.
But there will be no Ons Jabeur in New York this year. The 2022 finalist has been severely affected by injuries this season; having got her chronic knee problem under control, the Tunisian sustained a shoulder injury this summer, leading to withdrawal from tournaments in Washington DC, Cincinnati, and now the US Open.
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RACECARD
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Essentials
The flights
Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours.
The package
Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.
The specs: 2019 Infiniti QX50
Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)
Ferrari
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UAE currency: the story behind the money in your pockets
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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