• Daniil Medvedev poses with the winner's trophy after his 4-6, 7-6, 6-4 win over Dominic Thiem in the final of the ATP Finals at the O2 Arena in London. AFP
    Daniil Medvedev poses with the winner's trophy after his 4-6, 7-6, 6-4 win over Dominic Thiem in the final of the ATP Finals at the O2 Arena in London. AFP
  • Daniil Medvedev poses with the winner's trophy after his win over Dominic Thiem in the final match of the ATP Finals. AFP
    Daniil Medvedev poses with the winner's trophy after his win over Dominic Thiem in the final match of the ATP Finals. AFP
  • Daniil Medvedev poses with the ATP Finals trophy with ball boys and girls. EPA
    Daniil Medvedev poses with the ATP Finals trophy with ball boys and girls. EPA
  • Daniil Medvedev lifts the ATP Finals trophy while Dominic Thiem holds the runners-up plate. Getty Images
    Daniil Medvedev lifts the ATP Finals trophy while Dominic Thiem holds the runners-up plate. Getty Images
  • Daniil Medvedev poses with the ATP Finals trophy with ball boys and girls. Getty Images
    Daniil Medvedev poses with the ATP Finals trophy with ball boys and girls. Getty Images
  • Daniil Medvedev and ball kids throw their arms in the air to celebrate his ATP Finals victory. Getty Images
    Daniil Medvedev and ball kids throw their arms in the air to celebrate his ATP Finals victory. Getty Images
  • Daniil Medvedev lifts the ATP Finals trophy. Getty Images
    Daniil Medvedev lifts the ATP Finals trophy. Getty Images
  • Daniil Medvedev poses with the ATP Finals trophy. Getty Images
    Daniil Medvedev poses with the ATP Finals trophy. Getty Images
  • Daniil Medvedev kisses the ATP Finals trophy. EPA
    Daniil Medvedev kisses the ATP Finals trophy. EPA
  • Daniil Medvedev lifts the ATP Finals trophy as he celebrates after winning the final against Dominic Thiem. Reuters
    Daniil Medvedev lifts the ATP Finals trophy as he celebrates after winning the final against Dominic Thiem. Reuters

Daniil Medvedev and Dominic Thiem show at ATP Finals that Big Three's reign is finally being challenged


Reem Abulleil
  • English
  • Arabic

The ATP Finals’ 12-year residency at London’s O2 Arena came to a close on Sunday with a high-quality three-set victory for Russia’s Daniil Medvedev over reigning US Open champion Dominic Thiem.

The O2 has played a perfect host for the prestigious season finale since 2009. And while the tournament’s relocation to Turin next year is definitely the end of an era, last week’s action that culminated with Medvedev’s crowning moment, to many, signalled the start of a new one.

Both Medvedev and Thiem claimed wins over Novak Djokovic and Rafael Nadal en route to the final and the Russian is actually the first player in the tournament’s history to topple each of the world’s top three on his way to clinching the trophy.

The fourth-ranked Muscovite concluded his 2020 season by winning 10 matches in a row through his back-to-back title runs in Paris and London, while Thiem walked away with the runner-up trophy for a second consecutive year at the ATP Finals but is surely still brimming with confidence from his maiden Grand Slam success in New York in September.

Moments after the trophy ceremony at the O2 on Sunday, both finalists were fielding questions about whether their latest achievements signify a changing of the guard in men’s tennis. Is the ‘Big Three’ dynasty of Djokovic, Nadal and Roger Federer under a serious threat?

“We proved that we can play with the legends, that we can also beat them, that we can also win the biggest tournaments,” Thiem said. “I think for tennis some exciting times are coming ahead.”

For nearly 15 years, Federer, Nadal and Djokovic have been at the top of the game, dominating the biggest tournaments and amassing 57 grand slams and 99 Masters 1000 titles between them.

At ages 33 and 34, Djokovic and Nadal are still the top two in the world rankings and the 39-year-old Federer is close behind in the No 5 spot. They’ve scooped 14 of the last 15 majors, including two this season, and 17 of the last 30 Masters 1000 crowns.

That doesn’t really sound like a struggling trio by any measure.

Last week wasn’t the first time a player from the younger generation has reigned supreme in the ATP Finals during the ‘Big Three’ era.

Medvedev is the third consecutive 24-and-under player to lift the trophy at the O2, following in the footsteps of Alexander Zverev and Stefanos Tsitsipas, who won the title in 2018 and 2019, respectively, aged 21.

Premature changing of the guard statements came to the fore after each of those aforementioned victories by Next Gen stars, mostly because of tennis’ desperate need for fresh talent to rise and secure the sport’s future. Many have jumped at the opportunity to hype up the younger generation, only for the ‘Big Three’ to hold on even tighter the following season.

______________________________________________________________________

Gallery: Nadal wins 13th French Open title

  • Rafael Nadal won the French Open title for the 13th time after his win over Novak Djokovic in the final on October 11, 2020. EPA
    Rafael Nadal won the French Open title for the 13th time after his win over Novak Djokovic in the final on October 11, 2020. EPA
  • Rafael Nadal of Spain equalled Roger Federer's tally of 20 Grand Slam titles. EPOA
    Rafael Nadal of Spain equalled Roger Federer's tally of 20 Grand Slam titles. EPOA
  • Rafael Nadal won the French Open title after a straight sets win over Novak Djokovic. EPA
    Rafael Nadal won the French Open title after a straight sets win over Novak Djokovic. EPA
  • Serbia's Novak Djokovic, second left, and Spain's Rafael Nadal. AFP
    Serbia's Novak Djokovic, second left, and Spain's Rafael Nadal. AFP
  • Spain's Rafael Nadal celebrates winning the final against Serbia's Novak Djokovic. AP
    Spain's Rafael Nadal celebrates winning the final against Serbia's Novak Djokovic. AP
  • Serbia's Novak Djokovic congratulates Spain's Rafael Nadal. AFP
    Serbia's Novak Djokovic congratulates Spain's Rafael Nadal. AFP
  • Spain's Rafael Nadal celebrates after winning the French Open final against against Serbia's Novak Djokovic. AFP
    Spain's Rafael Nadal celebrates after winning the French Open final against against Serbia's Novak Djokovic. AFP
  • Spain's Rafael Nadal won the French Open title without dropping a set. AP
    Spain's Rafael Nadal won the French Open title without dropping a set. AP
  • Novak Djokovic serves against Rafael Nadal on Sunday. AFP
    Novak Djokovic serves against Rafael Nadal on Sunday. AFP
  • Spain's Rafael Nadal slides to play a shot against Serbia's Novak Djokovic. AP
    Spain's Rafael Nadal slides to play a shot against Serbia's Novak Djokovic. AP
  • Novak Djokovic of Serbia questions a line call. Getty
    Novak Djokovic of Serbia questions a line call. Getty

______________________________________________________________________

Which begs the question: Is there reason to believe this year’s developments will usher in a significant shake-up at the top in 2021?

The younger crew has certainly made its strongest case yet.

For starters, Thiem’s US Open triumph snapped a 13-slam winning streak for the Big Three. He is currently the only player under the age of 30 to have a singles major trophy on his resume. His breakthrough has no doubt instilled a great sense of belief among the younger challengers like Medvedev, Tsitsipas and Zverev, who have all reached at least two grand slam semi-finals.

Their head-to-head records against the devastating trio are also encouraging.

The 27-year-old Thiem owns a combined 16-18 win-loss record against Djokovic, Nadal and Federer (he is 5-2 against the latter). Medvedev is 4-10, Tsitsipas is 5-12, while Zverev is 8-12.

These are all players who grew up watching Federer and Co on television and have dreamt of one day facing them on court. Now that they know they can beat them – more than once – they can start to truly unlock their potential.

Medvedev and Thiem have spoken about the responsibility they feel towards stepping up, attracting new fans to the sport, and finally disrupting the ‘Big Three’ establishment. That awareness is only fuelling their hunger even more.

“Hopefully, all of us young guys will keep pushing and we’ll have some great rivalries. Hopefully we can be there for a long time, pushing the other generations back, because that's how we can be close to the ‘Big Three’, because they probably went through two, three generations without dropping their level, which is not easy,” said Medvedev.

______________________________________________________________________

Gallery: Thiem wins US Open

  • Dominic Thiem after beating Alexander Zverev 2-6, 4-6, 6-4, 6-3, 7-6 to win the 2020 US Open final.
    Dominic Thiem after beating Alexander Zverev 2-6, 4-6, 6-4, 6-3, 7-6 to win the 2020 US Open final.
  • Dominic Thiem on his way to victory over Alexander Zverev in New York.
    Dominic Thiem on his way to victory over Alexander Zverev in New York.
  • Dominic Thiem of Austria hits a return to Germany's Alexander Zverev at Flushing Meadows.
    Dominic Thiem of Austria hits a return to Germany's Alexander Zverev at Flushing Meadows.
  • Dominic Thiem returns the ball in the fifth set.
    Dominic Thiem returns the ball in the fifth set.
  • Alexander Zverev hits a return to Dominic Thiem.
    Alexander Zverev hits a return to Dominic Thiem.
  • Dominic Thiem serves to Alexander Zverev.
    Dominic Thiem serves to Alexander Zverev.
  • Dominic Thiem celebrates his victory in New York.
    Dominic Thiem celebrates his victory in New York.
  • Dominic Thiem celebrates his victory in New York.
    Dominic Thiem celebrates his victory in New York.
  • Alexander Zverev embraces Dominic Thiem after the match.
    Alexander Zverev embraces Dominic Thiem after the match.
  • Dominic Thiem after winning the US Open final.
    Dominic Thiem after winning the US Open final.

______________________________________________________________________

“But what is definitely good from us, from Dominic, from me, especially if we talk just about this tournament, we managed both to beat Rafa and Novak, which is an amazing accomplishment.”

Thiem knows there are big shoes to fill moving forward but feels he’s up for the challenge.

“I think it's super important for the sport, because like Roger, Rafa, Nole and also Andy [Murray], they did so much for the sport. I think they brought so many new fans to tennis. There is going to be a time when they are not around anymore, and then it's going to be so important to keep all the tennis fans, to keep them with this great sport,” said the Austrian.

“I think that's our challenge, that we perform well, that we play great in big tournaments, that we become huge stars ourselves. That’s our challenge to keep all those people with tennis and to maybe continue their story.”

A great deal of uncertainty still lies ahead for 2021 as tennis continues to figure out a way to operate during the coronavirus pandemic. But amidst all the uncertainty, there is little doubt we’ll witness more breakthroughs from the younger generation next season.

The specs: 2018 Range Rover Velar R-Dynamic HSE

Price, base / as tested: Dh263,235 / Dh420,000

Engine: 3.0-litre supercharged V6

Power 375hp @ 6,500rpm

Torque: 450Nm @ 3,500rpm

Transmission: Eight-speed automatic

Fuel consumption, combined: 9.4L / 100kms

Common%20symptoms%20of%20MS
%3Cul%3E%0A%3Cli%3EFatigue%3C%2Fli%3E%0A%3Cli%3Enumbness%20and%20tingling%3C%2Fli%3E%0A%3Cli%3ELoss%20of%20balance%20and%20dizziness%3C%2Fli%3E%0A%3Cli%3EStiffness%20or%20spasms%3C%2Fli%3E%0A%3Cli%3ETremor%3C%2Fli%3E%0A%3Cli%3EPain%3C%2Fli%3E%0A%3Cli%3EBladder%20problems%3C%2Fli%3E%0A%3Cli%3EBowel%20trouble%3C%2Fli%3E%0A%3Cli%3EVision%20problems%3C%2Fli%3E%0A%3Cli%3EProblems%20with%20memory%20and%20thinking%3C%2Fli%3E%0A%3C%2Ful%3E%0A
UAE currency: the story behind the money in your pockets
It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

Nick's journey in numbers

Countries so far: 85

Flights: 149

Steps: 3.78 million

Calories: 220,000

Floors climbed: 2,000

Donations: GPB37,300

Prostate checks: 5

Blisters: 15

Bumps on the head: 2

Dog bites: 1

Superpower%20
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ESean%20Penn%2C%20Aaron%20Kaufman%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%0D%3Cbr%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EClara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPatrick%20Rogers%2C%20Lee%20McMahon%2C%20Arthur%20Guest%2C%20Ahmed%20Arif%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ELegalTech%0D%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%244%20million%20of%20seed%20financing%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EWamda%20Capital%2C%20Shorooq%20Partners%2C%20Techstars%2C%20500%20Global%2C%20OTF%2C%20Venture%20Souq%2C%20Knuru%20Capital%2C%20Plug%20and%20Play%20and%20The%20LegalTech%20Fund%3C%2Fp%3E%0A
RESULTS

1.45pm: Maiden Dh75,000 1,400m
Winner: Dirilis Ertugrul, Fabrice Veron (jockey), Ismail Mohammed (trainer)
2.15pm: Handicap Dh90,000 1,400m
Winner: Kidd Malibu, Sandro Paiva, Musabah Al Muhairi
2.45pm: Maiden Dh75,000 1,000m
Winner: Raakezz, Tadhg O’Shea, Nicholas Bachalard
3.15pm: Handicap Dh105,000 1,200m
Winner: Au Couer, Sean Kirrane, Satish Seemar
3.45pm: Maiden Dh75,000 1,600m
Winner: Rayig, Pat Dobbs, Doug Watson
4.15pm: Handicap Dh105,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer
4.45pm: Handicap Dh80,000 1,800m
Winner: King’s Shadow, Richard Mullen, Satish Seemar

Everything Now

Arcade Fire

(Columbia Records)

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

HOW TO WATCH

Facebook: TheNationalNews  

Twitter: @thenationalnews  

Instagram: @thenationalnews.com  

TikTok: @thenationalnews 

RESULTS

6.30pm Handicap (TB) US$65,000 (Dirt) 1,400m

Winner Golden Goal, Pat Dobbs (jockey), Doug Watson (trainer)

7.05pm Dubai Racing Club Classic Listed Handicap (TB) $88,000 (Turf) 2,410m

Winner: Walton Street, William Buick, Charlie Appleby.

7.40pm Dubai Stakes Group 3 (TB) $130,000 (D) 1,200m

Winner Switzerland, Tadhg O’Shea, Satish Seemar

8.15pm Singspiel Stakes Group 3 (TB) $163,000 (T) 1,800m

Winner Lord Giltters, Adrie de Vries, David O’Meara

8.50pm Al Maktoum Challenge Round-1 (TB) $228,000 (D) 1,600m

Winner Military Law, Antonio Fresu, Musabah Al Muhairi.

9.25pm Al Fahidi Fort Group 2 (TB) $163,000 (T) 1,400m

Winner Land Of Legends, Frankie Dettori, Saeed bin Suroor

10pm Dubai Dash Listed Handicap (TB) $88,000 (T) 1,000m

Winner Equilateral, Frankie Dettori, Charles Hills.

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
The Africa Institute 101

Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction. 

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

Oppenheimer
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EChristopher%20Nolan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ECillian%20Murphy%2C%20Emily%20Blunt%2C%20Robert%20Downey%20Jr%2C%20Florence%20Pugh%2C%20Matt%20Damon%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E5%2F5%3Cbr%3E%3C%2Fp%3E%0A
FIGHT%20CARD
%3Cp%3E%3Cstrong%3EFeatherweight%204%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EYousuf%20Ali%20(2-0-0)%20(win-loss-draw)%20v%20Alex%20Semugenyi%20(0-1-0)%3Cbr%3E%3Cstrong%3EWelterweight%206%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EBenyamin%20Moradzadeh%20(0-0-0)%20v%20Rohit%20Chaudhary%20(4-0-2)%3Cbr%3E%3Cstrong%3EHeavyweight%204%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EYoussef%20Karrar%20(1-0-0)%20v%20Muhammad%20Muzeei%20(0-0-0)%3Cbr%3E%3Cstrong%3EWelterweight%206%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EMarwan%20Mohamad%20Madboly%20(2-0-0)%20v%20Sheldon%20Schultz%20(4-4-0)%3Cbr%3E%3Cstrong%3ESuper%20featherweight%208%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EBishara%20Sabbar%20(6-0-0)%20v%20Mohammed%20Azahar%20(8-5-1)%3Cbr%3E%3Cstrong%3ECruiseweight%208%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EMohammed%20Bekdash%20(25-0-0)%20v%20Musa%20N%E2%80%99tege%20(8-4-0)%3Cbr%3E%3Cstrong%3ESuper%20flyweight%2010%20rounds%3A%3C%2Fstrong%3E%3Cbr%3ESultan%20Al%20Nuaimi%20(9-0-0)%20v%20Jemsi%20Kibazange%20(18-6-2)%3Cbr%3E%3Cstrong%3ELightweight%2010%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EBader%20Samreen%20(8-0-0)%20v%20Jose%20Paez%20Gonzales%20(16-2-2-)%3C%2Fp%3E%0A
Yemen's Bahais and the charges they often face

The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.

The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran. 

Today, some 2,000 Baha'is reside in Yemen, according to Insaf. 

"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said. 

Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer. 

The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy. 

 

Six pitfalls to avoid when trading company stocks

Following fashion

Investing is cyclical, buying last year's winners often means holding this year's losers.

Losing your balance

You end up with too much exposure to an individual company or sector that has taken your fancy.

Being over active

If you chop and change your portfolio too often, dealing charges will eat up your gains.

Running your losers

Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.

Selling in a panic

If you sell up when the market drops, you have locked yourself out of the recovery.

Timing the market

Even the best investor in the world cannot consistently call market movements.

Imperial%20Island%3A%20A%20History%20of%20Empire%20in%20Modern%20Britain
%3Cp%3EAuthor%3A%20Charlotte%20Lydia%20Riley%3Cbr%3EPublisher%3A%20Bodley%20Head%3Cbr%3EPages%3A%20384%3C%2Fp%3E%0A
If you go...

Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.

Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50

SHOW COURTS ORDER OF PLAY

Wimbledon order of play on Saturday, July 8
All times UAE ( 4 GMT)

Centre Court (4pm)
Agnieszka Radwanska (9) v Timea Bacsinszky (19)
Ernests Gulbis v Novak Djokovic (2)
Mischa Zverev (27) v Roger Federer (3)

Court 1 (4pm)
Milos Raonic (6) v Albert Ramos-Vinolas (25)
Anett Kontaveit v Caroline Wozniacki (5)
Dominic Thiem (8) v Jared Donaldson

Court 2 (2.30pm)
Sorana Cirstea v Garbine Muguruza (14)
To finish: Sam Querrey (24) leads Jo-Wilfried Tsonga (12) 6-2, 3-6, 7-6, 1-6, 6-5
Angelique Kerber (1) v Shelby Rogers
Sebastian Ofner v Alexander Zverev (10)

Court 3 (2.30pm)
Grigor Dimitrov (13) v Dudi Sela
Alison Riske v Coco Vandeweghe (24)
David Ferrer v Tomas Berdych (11)

Court 12 (2.30pm)
Polona Hercog v Svetlana Kuznetsova (7)
Gael Monfils (15) v Adrian Mannarino

Court 18 (2.30pm)
Magdalena Rybarikova v Lesia Tsurenko
Petra Martic v Zarina Diyas

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

About Tenderd

Started: May 2018

Founder: Arjun Mohan

Based: Dubai

Size: 23 employees 

Funding: Raised $5.8m in a seed fund round in December 2018. Backers include Y Combinator, Beco Capital, Venturesouq, Paul Graham, Peter Thiel, Paul Buchheit, Justin Mateen, Matt Mickiewicz, SOMA, Dynamo and Global Founders Capital

Biog

Mr Kandhari is legally authorised to conduct marriages in the gurdwara

He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada

Father of two sons, grandfather of six

Plays golf once a week

Enjoys trying new holiday destinations with his wife and family

Walks for an hour every morning

Completed a Bachelor of Commerce degree in Loyola College, Chennai, India

2019 is a milestone because he completes 50 years in business

 

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

Louis Tomlinson

3 out of 5 stars

(Syco Music/Arista Records)

Abu Dhabi Card

5pm: Maiden (PA) Dh 80,000 1,400m

National selection: AF Mohanak

5.30pm: Handicap (PA) Dh 90,000 1,400m

National selection: Jayide Al Boraq

6pm: Handicap (TB) Dh 100,000 1,400m

National selection: Rocket Power

6.30pm: Abu Dhabi Championship Listed (PA) Dh 180,000 1,600m

National selection: Ihtesham

7pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 1,600m

National selection: Noof KB

7.30pm: Maiden (PA) Dh 80,000 2.200m

National selection: EL Faust

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MATCH INFO

Uefa Champions League, last-16. first leg

Atletico Madrid v Juventus, midnight (Thursday), BeIN Sports

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.”

NYBL PROFILE

Company name: Nybl 

Date started: November 2018

Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono

Based: Dubai, UAE

Sector: Software Technology / Artificial Intelligence

Initial investment: $500,000

Funding round: Series B (raising $5m)

Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up