When Juan Martin Del Potro packed his bags and left Wimbledon 15 months ago as a routine second-round loser in the tournament, few outside Argentina knew very much about what was then an emerging teenage talent.
From that point onwards, the fan club of "that man with four names" began growing steadily as four successive tournament victories took him into last year's US Open as one of the hottest players on tour.
Andy Murray halted the South American juggernaut 12 months ago as the British No 1 qualified for his first grand slam final appearance - a losing one because of Roger Federer's domination of the Flushing Meadows scene.
There was no stopping the giant Del Potro this year, though. Not even Federer - his form and confidence sky high after emotional triumphs at Roland Garros and Wimbledon - could deny the gigantic-but-shy figure a glorious arrival among the big boys of the game.
Federer, who had memorably repelled a tough challenge from Andy Roddick at Wimbledon for a record 15th grand slam, was unable to add another when the delayed Open final went into a deciding set in the early hours of yesterday morning.
Del Potro, stubbornly hanging on during the first three hours of a Federer-controlled match, was by far the stronger as another tremendous major final went into the deciding set and a fifth hour.
The Swiss, so often cool and collected in the most demanding situations, was distinctly second best on this occasion.
A resolute Del Potro broke him twice in the final set to clinch an outstanding 3-6, 7-6, 4-6, 7-6, 6-2 victory.
Along with his semi-final conquest of Nadal, he became the first player to beat both of the sport's two leading figures at the same grand slam.
Del Potro's delivery of English is not as impressive as his punishing service which is delivered from high above his imposing 6ft 6in frame but he still got his message across to a stunned New York public after celebrating the highlight of his rise to prominence.
"I just want to live this moment," he said. "Of course I will be in the history of this tournament. That's amazing for me.
"I have new opportunities in the other grand slams to win, because if I beat Nadal, Federer and many good players here, maybe I can do one more time. But of course, [it] will be difficult, because I was so close to lose [losing] today."
Del Potro, 20, revealed that he had lay awake worrying for much of the night before his big day. "The beginning of the match I was so nervous," he said. "I can't sleep last night. I don't take a breakfast today. That's part of the final, you know.
"But Roger start very good. I start little down. Was bad with my serve, and that's important weapon of my game. When I broke his serve for first time, I start to believe in my game."
Federer, though understandably disconsolate at failing to add a record sixth successive title at Flushing Meadows, was gracious after losing a grand slam final for the first time to anybody but Nadal. "You can't have them all," said the world No 1 as he savoured a wonderful year's accomplishments.
The Swiss was philosophical about his 41-match streak coming to an end. "Five [US titles] was great, four was great, too," he said. "Six would have been a dream, too. I've had an amazing summer and a great run. I'm not too disappointed just because I thought I played another wonderful tournament.
"I had chances today to win, but couldn't take them. It was unfortunate."
Federer will be glad he equalled Pete Sampras' grand slam record of 14 at the French Open and then surpassed it at Wimbledon this year because Del Potro looks like he is here to stay.
Unlike Murray in the same Arthur Ashe Stadium a year ago, Del Potro seized his career-defining moment when it came and now has his sights on replacing the British player as the principal threat to Federer and Nadal for world supremacy.
Del Potro's Flushing Meadows success carries him above Roddick to fifth in the world and a future No 1 ranking is by no means beyond him.
wjohnson@thenational.ae
Super heroes
Iron Man
Reduced risk of dementia
Alcohol consumption could be an issue
Hulk
Cardiac disease, stroke and dementia from high heart rate
Spider-Man
Agility reduces risk of falls
Increased risk of obesity and mental health issues
Black Panther
Vegetarian diet reduces obesity
Unknown risks of potion drinking
Black Widow
Childhood traumas increase risk of mental illnesses
Thor
He's a god
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
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.”
25%20Days%20to%20Aden
%3Cp%3EAuthor%3A%20Michael%20Knights%3C%2Fp%3E%0A%3Cp%3EPages%3A%20256%3C%2Fp%3E%0A%3Cp%3EAvailable%3A%20January%2026%3C%2Fp%3E%0A
UAE Falcons
Carly Lewis (captain), Emily Fensome, Kelly Loy, Isabel Affley, Jessica Cronin, Jemma Eley, Jenna Guy, Kate Lewis, Megan Polley, Charlie Preston, Becki Quigley and Sophie Siffre. Deb Jones and Lucia Sdao – coach and assistant coach.
The Sheikh Zayed Future Energy Prize
This year’s winners of the US$4 million Sheikh Zayed Future Energy Prize will be recognised and rewarded in Abu Dhabi on January 15 as part of Abu Dhabi Sustainable Week, which runs in the capital from January 13 to 20.
From solutions to life-changing technologies, the aim is to discover innovative breakthroughs to create a new and sustainable energy future.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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
Mobile phone packages comparison
Armies of Sand
By Kenneth Pollack (Oxford University Press)
<html><head><meta http-equiv="Content-Type" content="text/html" charset="UTF-8" /></head><body><!--PSTYLE=* Labels%3aFH Label 18 Sport--><p>Beach soccer</p><!--PSTYLE=BY Byline--><p>Amith Passela</p><p /></body></html>
BlacKkKlansman
Director: Spike Lee
Starring: John David Washington; Adam Driver
Five stars
