Rafael Nadal, the former world No 1 and 14-time major winner, will return for the eighth edition of the Mubadala World Tennis Championship (MWTC) in Abu Dhabi, organisers confirmed.
MWTC, which will be held at Zayed Sports City from December 31, 2015 to January 2, 2016, will welcome six of the world’s best tennis players for the three-day tournament.
Nadal, a two-time MWTC winner, has confirmed his place at the event and is looking to use it as a springboard for a successful 2016 season. The current year has seen the Spaniard dip below his usual high standards, resulting in just two titles and a drop to No 10 in the world rankings as he struggled to regain his top form after an injury-disrupted start to the season.
“A new season is a new opportunity for success and I am looking forward to getting started in Abu Dhabi on December 31st,” Nadal said. “The Mubadala World Tennis Championship is an event I always enjoy and it’s great to be returning to action with the world’s top players in the UAE capital.
“I’m happy to see new faces entering the tournament this year which shows it continues to grow and offer a new challenge for us players. I’m looking forward to spending time with the local crowds, they are always very supportive.”
One of the new faces Nadal may be referring to is world No 9 Milos Raonic, who has also confirmed his place at MWTC.
The big-serving Canadian will be making his first appearance at MWTC where he will compete for the US$250,000 (Dh918,000) winning prize.
“I’m really looking forward to it that’s for sure,” Raonic said. “The line-up for the Mubadala World Tennis Championship is always extremely strong and I’ve heard nothing but good things from the guys on the tour who have been there before.
“For me it will be my first time in Abu Dhabi so it’s going to be a new experience and I’ll be on the lookout for the Canadian flags in the stands for support.
“It will be very exciting to start my year in Abu Dhabi and I’m looking forward to bringing my best tennis. The result of that will hopefully be thrilling tennis for the Abu Dhabi crowds.”
Tickets for MWTC go on sale at 12pm on Monday, September 28 and are available to buy at all Virgin Megastores across the UAE and at www.ticketmaster.ae.
TICKET PRICES AND INFORMATION
Premier:
Day 1 (Dh1,400), Day 2 (Dh1,800), Day 3 (Dh2,200)
Category 1:
Adult Day 1 (300), Day 2 (Dh450), Day 3 (Dh650)
Child Day 1 (Dh200), Day 2 (Dh350), Day 3 (Dh450)
3 Day Package (Dh1,300)
Category 2:
Adult Day 1 (100), Day 2 (Dh250), Day 3 (350)
Child Day 1 (50,) Day 2 (Dh150), Day 3 (Dh200)
3 Day Package (Dh700)
Family Pack of 4 Day 1 only (Dh250)
FOLLOW US ON TWITTER @NatSportUAE
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
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.”
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Match info
What: Fifa Club World Cup play-off
Who: Al Ain v Team Wellington
Where: Hazza bin Zayed Stadium, Al Ain
When: Wednesday, kick off 7.30pm
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Company%20profile%20
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EYodawy%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Egypt%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EKarim%20Khashaba%2C%20Sherief%20El-Feky%20and%20Yasser%20AbdelGawad%3Cstrong%3E%3Cbr%3ESector%3A%20%3C%2Fstrong%3EHealthTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3E%2424.5%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EAlgebra%20Ventures%2C%20Global%20Ventures%2C%20MEVP%20and%20Delivery%20Hero%20Ventures%2C%20among%20others%3Cstrong%3E%3Cbr%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20500%3Cbr%3E%3C%2Fp%3E%0A
