From right, Serena Williams talks to Brian Earley and Donna Kelso while the line judge looks on.
From right, Serena Williams talks to Brian Earley and Donna Kelso while the line judge looks on.

Serena self-destructs



Serena Williams' grip on the US Open title was dramatically broken at Flushing Meadows by a combination of the outstanding tennis produced by her semi-final opponent Kim Clijsters and the most untimely of interventions by a female baseline judge. Clijsters, who returned to the game only last month after a two-year absence, was on the verge of completing a remarkable straight-sets victory over the world No 2 and any hopes of a comeback ended suddenly as a result of a controversial foot fault call by the official.

It meant Williams, who had already received a code violation warning for racket abuse, moved from 15-30 to 15-40 in the 12th game of the second set to leave a confused Clijsters holding two match points. The Belgian did not need to convert either of them because Serena pressed the self-destruct button and aimed a verbal tirade at the line judge who immediately brought the attack to the attention of chair umpire Louise Engzell.

Engzell, who had cautioned the volatile Williams for smashing her racket at the end of the opening set, knew that any further sanction on the 11-time grand slam champion would have to be a point penalty which would end the match. She consulted referee Brian Earley and the WTA Tour supervisor Donna Kelso before confirming her decision. No "game set and match" announcement was made and the first indication to a half-full Arthur Ashe Stadium crowd was when Williams walked to Clijsters' side of the court to shake hands and concede a 6-4, 7-5 defeat.

Television replays, which suggested the foot fault call may have been harsh, failed to disclose what Serena said to the line judge but when the discussions were taking place with Engzell, the American was heard to protest: "I didn't say I would kill you - are you serious?" Serena was in the press interview room within a few minutes of her outburst but maintained that she could not remember what she had said to the official. "I said something and I guess they gave me a point penalty and unfortunately it was on match point," she said.

As for the "kill you" threat, Serena said: "I've never been in a fight in my whole life so I don't know why she would feel threatened. I'm clearly not happy. All this year I've never, never been foot-faulted and suddenly in this tournament they give me foot faults. I'm not saying I don't foot fault, but it was what it was all about." The referee Earley stressed that he had not disqualified Williams. "It was not a default, it was a point penalty that happened to be given on match point. It was her second code violation for unsportsmanlike conduct."

The controversy took the shine off a fantastic victory for Clijsters who belied all expectations to set up the summit clash with Caroline Wozniacki. The ninth-seeded Dane Wozniacki had ended hopes of an all-Belgian final by defeating Yanina Wickmayer 6-3, 6-3 in the other semi-final. Clijsters, making her first appearance at Flushing Meadows since winning her only previous grand slam title there in 2005, was initially unaware of what was happening. "I was trying to stay focused and was facing the other way," she said. "I saw Serena talking to the linesman, but I was too far way to hear what she was saying so I can't really comment."

The victory left Clijsters on the verge of becoming the first mother to claim a major title since Evonne Goolagong-Cawley won Wimbledon in 1980. She and Wozniacki, who has never gone beyond the fourth round of a grand slam, were due on court late last night after the delayed men's semi-finals. Rafael Nadal's clash with Juan Martin Del Potro was scheduled to open the "Super Sunday" programme with the defending champion and Roger Federer then taking on Novak Djokovic.

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Brief scoreline:

Manchester United 2

Rashford 28', Martial 72'

Watford 1

Doucoure 90'

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.”

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.

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

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Started: 2016

Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel 

Based: Ramallah, Palestine

Sector: Technology, Security

# of staff: 13

Investment: $745,000

Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors

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Director: Stephen Gaghan

Stars: Robert Downey Jr, Michael Sheen

One-and-a-half out of five stars

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The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
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Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5