Tennis fans turn out in their droves in Dubai


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DUBAI // The Serbians came first, in bright red T-shirts and carrying their flags. The Cypriots, Indians and Russians followed, filling the vacant seats that became increasingly rare with every serve and passing shot.

By the time the Swiss contingent arrived, centre court was packed. It seemed a global village, with the young and the old jostling for space; men and women were out in equal numbers, all dressed in their national colours.

They cheered on their favourites, but almost all were waiting for the Swiss maestro. The anticipation was palpable and the fans rose in unison to welcome Roger Federer, who had been missing from the tournament for the past two years.

A roar erupted as he walked out, waving his hand and adjusting his bandanna. With every seat taken, hundreds who arrived late were left standing.

"Very busy," said Murad Qassemov from Uzbekistan. "And all this for just one man."

Last week, the women's championship was struggling to get a fraction of this number at the turnstiles for the opening rounds. "This is the real tennis," said a cheeky German fan.

Of course, his comments were not just idle male chauvinism. The women's tournaments had most of the top-ranked players, but was lacking in star quotient. There was no Kim Clijsters, and Maria Sharapova and Venus Williams had withdrawn; Serena Williams is yet to return from her foot injury.

The men's tournament is also missing big names. There is no Rafael Nadal and Andy Murray pulled out last week. But Djokovic is here and, of course, Federer is back. These two are enough to keep the box office buzzing anywhere in the world.

"I am here to enjoy and have fun," said David Kalunde from Uganda. "Of course, I am also here to watch the top guys, especially Federer and Djokovic.

"I have tickets for the final too and I hope both of them make it. It would be perfect … to see them playing against each other, two of the world's best players."

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Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

Company profile

Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

Sector: Online gaming industry

Funding: $1.2m from a UAE angel investor

The biog

Name: Fareed Lafta

Age: 40

From: Baghdad, Iraq

Mission: Promote world peace

Favourite poet: Al Mutanabbi

Role models: His parents 

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1. Featherweight 66kg: Ben Lucas (AUS) v Ibrahim Kendil (EGY)

2. Lightweight 70kg: Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)

3. Welterweight 77kg:Marcos Costa (BRA) v Abdelhakim Wahid (MAR)

4. Lightweight 70kg: Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)

5. Featherweight 66kg: Ahmed Al Darmaki (UAE) v Kagimu Kigga (UGA)

6. Catchweight 85kg: Ibrahim El Sawi (EGY) v Iuri Fraga (BRA)

7. Featherweight 66kg: Yousef Al Husani (UAE) v Mohamed Allam (EGY)

8. Catchweight 73kg: Mostafa Radi (PAL) v Ahmed Abdelraouf of Egypt (EGY)

9.  Featherweight 66kg: Jaures Dea (CMR) v Andre Pinheiro (BRA)

10. Catchweight 90kg: Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)

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FIXTURES

New Zealand v France, second Test
Saturday, 12.35pm (UAE)
Auckland, New Zealand

South Africa v Wales
Sunday, 12.40am (UAE), San Juan, Argentina

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

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.”

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Schedule:

Pakistan v Sri Lanka:
28 Sep-2 Oct, 1st Test, Abu Dhabi
6-10 Oct, 2nd Test (day-night), Dubai
13 Oct, 1st ODI, Dubai
16 Oct, 2nd ODI, Abu Dhabi
18 Oct, 3rd ODI, Abu Dhabi
20 Oct, 4th ODI, Sharjah
23 Oct, 5th ODI, Sharjah
26 Oct, 1st T20I, Abu Dhabi
27 Oct, 2nd T20I, Abu Dhabi
29 Oct, 3rd T20I, Lahore