• Novak Djokovic celebrates after winning the 2020 Dubai Duty Free Tennis Championships final against Stefanos Tsitsipas on Saturday, 29 February, 2020. EPA
    Novak Djokovic celebrates after winning the 2020 Dubai Duty Free Tennis Championships final against Stefanos Tsitsipas on Saturday, 29 February, 2020. EPA
  • Novak Djokovic of Serbia celebrates after winning his final match against Stefanos Tsitsipas of Greece at the 2020 Dubai Duty Free Tennis Championships. EPA
    Novak Djokovic of Serbia celebrates after winning his final match against Stefanos Tsitsipas of Greece at the 2020 Dubai Duty Free Tennis Championships. EPA
  • Novak Djokovic during the final against Stefanos Tsitsipas at the 2020 Dubai Duty Free Tennis Championships. EPA
    Novak Djokovic during the final against Stefanos Tsitsipas at the 2020 Dubai Duty Free Tennis Championships. EPA
  • Novak Djokovic extended his season record to 18-0 with his win in the 2020 Dubai Duty Free Tennis Championships. Reuters
    Novak Djokovic extended his season record to 18-0 with his win in the 2020 Dubai Duty Free Tennis Championships. Reuters
  • Novak Djokovic defeated Stefanos Tsitsipas in straight sets. Reuters
    Novak Djokovic defeated Stefanos Tsitsipas in straight sets. Reuters
  • Novak Djokovic embraces Stefanos Tsitsipas after winning the final. Reuters
    Novak Djokovic embraces Stefanos Tsitsipas after winning the final. Reuters
  • Novak Djokovic was awarded UAE's golden card visa after the final on Saturday. EPA
    Novak Djokovic was awarded UAE's golden card visa after the final on Saturday. EPA
  • Novak Djokovic during the final against Stefanos Tsitsipas. Reuters
    Novak Djokovic during the final against Stefanos Tsitsipas. Reuters
  • Stefanos Tsitsipas plays a forehand against Novak Djokovic. Getty Images
    Stefanos Tsitsipas plays a forehand against Novak Djokovic. Getty Images
  • Stefanos Tsitsipas during the final against Novak Djokovic. Getty Images
    Stefanos Tsitsipas during the final against Novak Djokovic. Getty Images
  • General view of the final between Stefanos Tsitsipas and Novak Djokovic. Reuters
    General view of the final between Stefanos Tsitsipas and Novak Djokovic. Reuters

Novak Djokovic to play US Open: 'I am ready to adapt to new conditions'


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World No 1 Novak Djokovic confirmed on Thursday that he will take part in September's US Open, ending speculation regarding his involvement in the first Grand Slam tournament to be held during the coronavirus pandemic.

Djokovic, a three-time winner of the US Open, had previously cast doubts over whether he would participate in New York, claiming back in June the "extreme" measures required to safely stage the event made it "impossible" to commit.

However, the 33-year-old Serb released a statement saying he will be competing at Flushing Meadows and at the Cincinnati Masters the week prior.

“I am happy to confirm that I will participate at the Western & Southern Open and US Open this year," Djokovic said.

"It was not an easy decision to make with all the obstacles and challenges on many sides, but the prospect of competing again makes me really excited.

"I am aware that this time around it will be very different with all the protocols and safety measures that are put in place to protect players and people of [New York].

"Nevertheless, I have trained hard with my team and got my body in shape so I am ready to adapt to new conditions. I’ve done all the check-ups to make sure I am fully recovered and I am ready to get back on court fully committed to playing my best tennis."

Djokovic's presence is a welcome boost for US Open organisers, who have had to contend with a spate of high-profile withdrawals.

Reigning men's champion Rafael Nadal announced earlier this month that he would not be defending his title, because "Covid-19 cases are increasing, it looks like we still don't have control of it".

The Spaniard's withdrawal came days after Australia's Ashleigh Barty, the women's world No 1, and her compatriot Nick Kyrgios confirmed that they would miss the tournament.

Other top players to rule themselves out include men's world No 9 Gael Monfils and two more top-10 women: fifth-ranked Elina Svitolina and Kiki Bertens (7). World No 2 Simona Halep said she would make a judgement call after her involvement in this week's Prague Open.

Swiss great and five-time US Open champion Roger Federer, meanwhile, will be absent after undergoing further surgery on the knee injury that had kept him sidelined during the early part of the season.

All players to withdraw have cited similar safety concerns about hosting a major sporting event in a region severely affected by the Covid-19 crisis.

New York state has been one of the worst-hit areas in the United States, with more than 450,000 total cases and over 32,000 deaths. According to the latest statistics, New York has more than 72,000 active coronavirus cases.

"I respect and appreciate everyone taking time, effort, and energy to organise these two events for the tennis players to be able to go back to their working field," Djokovic continued in his statement.

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US Open 2019 men's final - in pictures

  • Rafael Nadal of Spain, right, holds the US Open trophy, next to Australian tennis great Rod Laver, centre, after his win over Daniil Medvedev. AFP
    Rafael Nadal of Spain, right, holds the US Open trophy, next to Australian tennis great Rod Laver, centre, after his win over Daniil Medvedev. AFP
  • Daniil Medvedev of Russia wipes his face while playing Rafael Nadal of Spain during the men's US Open final. AFP
    Daniil Medvedev of Russia wipes his face while playing Rafael Nadal of Spain during the men's US Open final. AFP
  • Rafael Nadal of Spain celebrates his win over Daniil Medvedev of Russia. AFP
    Rafael Nadal of Spain celebrates his win over Daniil Medvedev of Russia. AFP
  • Rafael Nadal celebrates his victory over Daniil Medvedev. AFP
    Rafael Nadal celebrates his victory over Daniil Medvedev. AFP
  • Rafael Nadal of Spain celebrates his victory over Daniil Medvedev. AFP
    Rafael Nadal of Spain celebrates his victory over Daniil Medvedev. AFP
  • Rafael Nadal of Spain embraces his opponent Daniil Medvedev after the match. AFP
    Rafael Nadal of Spain embraces his opponent Daniil Medvedev after the match. AFP
  • Rafael Nadal of Spain embraces his opponent Daniil Medvedev after the match. AFP
    Rafael Nadal of Spain embraces his opponent Daniil Medvedev after the match. AFP
  • Rafael Nadal Holds the trophy after his 7-5, 6-3, 5-7, 4-6, 6-4 win over Daniil Medvedev. AFP
    Rafael Nadal Holds the trophy after his 7-5, 6-3, 5-7, 4-6, 6-4 win over Daniil Medvedev. AFP
  • Rafael Nadal of Spain and the ball people pose with the trophy. AFP
    Rafael Nadal of Spain and the ball people pose with the trophy. AFP
  • Rafael Nadal of Spain reacts after defeating Daniil Medvedev of Russia. AFP
    Rafael Nadal of Spain reacts after defeating Daniil Medvedev of Russia. AFP

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"Unfortunately for the players and the game itself, the current situation is not allowing everyone to travel and compete at the same level of risk, and I hope the situation will change soon and we will all be back to doing what we love and do best.”

Professional tennis went into lockdown in March as the threat of the coronavirus grew. In its absence, Djokovic spearheaded the Adria Tour – an exhibition series held in the Balkan region involving a number of top male players.

However, the series descended into chaos after Bulgarian player Grigor Dimitrov tested positive for the coronavirus before other players and officials also returned positive results.

Soon after the remainder of the series was cancelled, Djokovic and his wife Jelena also tested positive for Covid-19.

As the face of the tour, Djokovic received widespread criticism for not only staging the event, but for the apparent casual attitude towards the threat of the virus.

Matches were played in front of packed crowds, kids coaching clinics were held, and players were filmed partying at a busy nightclub, although no rules were broken after Serbia and Croatia - two locations for the series - relaxed coronavirus guidelines.

With the Adria Tour saga behind him, Djokovic, who will arrive in New York on Saturday, will be the strong favourite to win his fourth US Open title. His other victories came in 2011, 2015, and 2018.

Djokovic's long-time rival Andy Murray, who beat the Serb in the 2012 US Open final for his first major title, is also expected to participate in this year's tournament.

The Scot, a former world No 1, has been working to overcome fitness setbacks caused by the career-saving hip surgery he underwent in January 2019.

The coronavirus shutdown delayed his latest return but he boarded a plane bound for New York on Wednesday with the expectation he will be play the US Open.

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SERIE A FIXTURES

Saturday

AC Milan v Sampdoria (2.30pm kick-off UAE)

Atalanta v Udinese (5pm)

Benevento v Parma (5pm)

Cagliari v Hellas Verona (5pm)

Genoa v Fiorentina (5pm)

Lazio v Spezia (5pm)

Napoli v Crotone (5pm)

Sassuolo v Roma (5pm)

Torino v Juventus (8pm)

Bologna v Inter Milan (10.45pm)

RESULT

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Third Test

Result: India won by 203 runs

Series: England lead five-match series 2-1

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.”