Stan Wawrinka lost his first-round match at the French Open. Miguel Medina / AFP
Stan Wawrinka lost his first-round match at the French Open. Miguel Medina / AFP
Stan Wawrinka lost his first-round match at the French Open. Miguel Medina / AFP
Stan Wawrinka lost his first-round match at the French Open. Miguel Medina / AFP

Federer tells Wawrinka ‘little by little’ he will fix issues


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Roger Federer and Novak Djokovic say they share the pain of Australian Open champion Stan Wawrinka who is battling to keep his head above water as a Grand Slam title winner.

Wawrinka claimed his first major at the age of 28 when he knocked out Djokovic and then defeated Rafael Nadal in the Melbourne final in January.

But the world No 3 slumped listlessly out of the French Open at the hands of Spanish journeyman Guillermo Garcia Lopez in the first round.

Wawrinka admitted that he was struggling to “put the puzzle back together”.

That’s a sentiment his Davis Cup teammate and close friend Federer knows all too well.

When he sensationally defeated Pete Sampras at Wimbledon in 2001 on a run to the quarter-finals, his return to the All England Club 12 months later ended in a humbling first round loss to Mario Ancic as the hype overcame him.

“With Stan, I understand where he is, because I was in such a position at a moment in my career, and it’s not even the pressure itself. I think it’s how you look at yourself and at your game,” said Federer after reaching the third round on Wednesday with a 6-3, 6-4, 6-4 win over Argentine qualifier Diego Schwartzman.

“Without changing everything, this is what he’s got to work on and solve this, fix this. Little by little. It will not happen overnight.

“But with Australia, with the Monte Carlo Masters, it’s in his pocket already. Nobody can take this from him. It will give him time.”

Djokovic also recognises the pitfalls of fame – after winning the first of his six majors at the 2008 Australian Open, he had to wait three more years for his second.

“I understand what Wawrinka is going through. In 2008 when I won my first Grand Slam, I know how that period went after that,” said world No 2 Djokovic.

“It’s the first time that you have to encounter pressure or expectations of being a favourite in Grand Slams.

“I think it’s a new experience, and it’s something that is going to be with him for the rest of his career, because he’s a Grand Slam winner now, so he’s going to be favourite in most of the events where he plays.”

In his lean Grand Slam spell, Djokovic also only reached one final – at the 2010 US Open – before taking the second of what has since become four Australian Opens.

Djokovic, who reached the Roland Garros third round with a 6-1, 6-4, 6-2 win over Frenchman Jeremy Chardy on Wednesday, even sees a mirror image of himself in Wawrinka.

“I can identify myself with Stan. What he’s saying is that from the mental perspective, the expectations and the pressure and suddenly all the attention is directed to you,” he said.

“Before that, you had really not much pressure or you were just going out there and playing the tennis and swinging through and not really thinking too much about the things off?court.

“And suddenly you have to start thinking about everything else. But it’s all part of the sport, part of what we do. With great success comes great responsibility.

“Over the years I realised that the pressure is a privilege.”

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World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

MATCH INFO

Uefa Champions League, last-16. first leg

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

The National in Davos

We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.

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.”

Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

SNAPSHOT

While Huawei did launch the first smartphone with a 50MP image sensor in its P40 series in 2020, Oppo in 2014 introduced the Find 7, which was capable of taking 50MP images: this was done using a combination of a 13MP sensor and software that resulted in shots seemingly taken from a 50MP camera.

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Results

Ashraf Ghani 50.64 per cent

Abdullah Abdullah 39.52 per cent

Gulbuddin Hekmatyar 3.85 per cent

Rahmatullah Nabil 1.8 per cent

THE%20SPECS
%3Cp%3EBattery%3A%2060kW%20lithium-ion%20phosphate%3Cbr%3EPower%3A%20Up%20to%20201bhp%3Cbr%3E0%20to%20100kph%3A%207.3%20seconds%3Cbr%3ERange%3A%20418km%3Cbr%3EPrice%3A%20From%20Dh149%2C900%3Cbr%3EAvailable%3A%20Now%3C%2Fp%3E%0A
Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

MATCH INFO

Manchester United 1 (Rashford 36')

Liverpool 1 (Lallana 84')

Man of the match: Marcus Rashford (Manchester United)