Switzerland's Roger Federer arrives for the Swiss team press conference on Tuesday in Lille ahead of the Davis Cup final, beginning Friday. Michael Spingler / AP / November 18, 2014
Switzerland's Roger Federer arrives for the Swiss team press conference on Tuesday in Lille ahead of the Davis Cup final, beginning Friday. Michael Spingler / AP / November 18, 2014
Switzerland's Roger Federer arrives for the Swiss team press conference on Tuesday in Lille ahead of the Davis Cup final, beginning Friday. Michael Spingler / AP / November 18, 2014
Switzerland's Roger Federer arrives for the Swiss team press conference on Tuesday in Lille ahead of the Davis Cup final, beginning Friday. Michael Spingler / AP / November 18, 2014

Roger Federer’s status up in the air for Davis Cup title tie: ‘I’m hopeful’


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Roger Federer was at the top of his game in London last week, sweeping past opponents as if his age were not an issue. A back injury over the weekend changed everything, casting serious doubts over his chances of winning the Davis Cup, or even playing against France in the final.

The 17-time grand slam champion picked up the injury in a hard-fought win over Swiss teammate Stan Wawrinka at the ATP Finals, forcing him to retire ahead of the title match against Novak Djokovic.

One statistic speaks volumes about the seriousness of the 33-year-old Federer’s injury: His walkover at the season finale marked only the third time in his career that he withdrew before a match, each time due to back problems.

As if Federer’s injury concerns were not enough, the Swiss are also worried about Wawrinka’s morale as the country bids for its first Davis Cup victory. After wasting four match points against Federer in London, the Australian Open champion said he “can either be destroyed or bounce back” from such a tough loss.

Following the match, two men are also said to have been involved in a heated spat after Wawrinka complained about noise coming from Federer’s box in between serves toward the end of the third set. Federer defused the tensions by posting a picture on Twitter of a united Switzerland team, with Wawrinka making bunny ears behind his teammate, and both players insisted on their friendship on Tuesday.

“We had a conversation after the match. Everything’s totally relaxed about the situation. We’re old enough,” Federer said. “I just wanted to see if there were any hard feelings because it was probably one of the loudest moments of the match. Clearly a lot of noise. Like I said, there is no hard feeling whatsoever. We’re having a good time here. We are friends, not enemies.”

Federer traveled to the northern French city of Lille by private jet on Monday, hoping to recover in time before the best-of-five series beginning Friday with two singles matches, followed by doubles on Saturday and reverse singles on Sunday.

“It was definitely not good enough to practice yesterday,” Federer told reporters Tuesday. “I wish progress would be faster, but we’re trying hard. We’re heading in that direction. I feel it’s definitely a little bit better than it was on Saturday night and Sunday and also Monday. Baby steps, I guess. I’m hopeful.”

Federer had been in tremendous form this season, playing a more offensive game and bagging five titles while staying injury-free after back problems damaged his 2013 campaign.

Chasing the only major title still eluding him, Federer also showed his commitment to the Davis Cup this year, joining the Swiss team immediately after his loss in the US Open semi-finals to take part to their semi-final against Italy in September.

For years, Federer did not regard the Davis Cup as a main priority. The emergence of Wawrinka as a top player changed the equation and convinced him they had a good chance of winning the event. But without Federer, the Swiss have won just one of the 10 ties they have played in the World Group since his debut in the competition in 1999.

If Federer can’t play, Swiss captain Severin Luthi will have to do either with the 212th-ranked Marco Chiudinelli or No 508 Michael Lammer.

“For the time being, we are not thinking that Roger Federer will not play on Friday,” France captain Arnaud Clement said. “We have been preparing for 10 days, and we are prepared to play the Swiss team with Federer and Wawrinka. But what we are going to play is not Federer’s team, it is the Swiss team. They have good players.”

Unlike its opponents, France is at full strength with Jo-Wilfried Tsonga, Gael Monfils, Julien Benneteau and Richard Gasquet having traveled to Lille after a training camp in Bordeaux. Clement also summoned Gilles Simon as a reserve player.

Both Tsonga and Gasquet, who won their singles matches and teamed up in doubles in the victory over the Czech Republic in the semi-finals, said they are not getting distracted by the Swiss team’s struggles.

France are looking to win the trophy for the 10th time.

“I think for this weekend, the important thing for us is to stay focused on ourselves, on our team,” Tsonga said. “What we need is to have a perfect performance. What we can do is just play tennis. Anything else is not really our business.”

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Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

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.”

The biog

Name: Sari Al Zubaidi

Occupation: co-founder of Cafe di Rosati

Age: 42

Marital status: single

Favourite drink: drip coffee V60

Favourite destination: Bali, Indonesia 

Favourite book: 100 Years of Solitude 

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

ENGLAND SQUAD

Team: 15 Mike Brown, 14 Anthony Watson, 13 Ben Te'o, 12 Owen Farrell, 11 Jonny May, 10 George Ford, 9 Ben Youngs, 1 Mako Vunipola, 2 Dylan Hartley, 3 Dan Cole, 4 Joe Launchbury, 5 Maro Itoje, 6 Courtney Lawes, 7 Chris Robshaw, 8 Sam Simmonds

Replacements 16 Jamie George, 17 Alec Hepburn, 18 Harry Williams, 19 George Kruis, 20 Sam Underhill, 21 Danny Care, 22 Jonathan Joseph, 23 Jack Nowell

Key Points
  • Protests against President Omar Al Bashir enter their sixth day
  • Reports of President Bashir's resignation and arrests of senior government officials
While you're here

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
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Abandon
Sangeeta Bandyopadhyay
Translated by Arunava Sinha
Tilted Axis Press 

RESULTS

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Winner: Obeyaan, Adrie de Vries, Mujeeb Rehman

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Winner: Shanaghai City, Fabrice Veron, Rashed Bouresly.

Tonight's Chat on The National

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Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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Movie: Saheb, Biwi aur Gangster 3

Producer: JAR Films

Director: Tigmanshu Dhulia

Cast: Sanjay Dutt, Jimmy Sheirgill, Mahie Gill, Chitrangda Singh, Kabir Bedi

Rating: 3 star