• Francis Ngannou celebrates after his victory over Ciryl Gane at UFC 270 at Honda Center, where he retained his UFC heavyweight title. USA TODAY Sports
    Francis Ngannou celebrates after his victory over Ciryl Gane at UFC 270 at Honda Center, where he retained his UFC heavyweight title. USA TODAY Sports
  • Francis Ngannou celebrates his win over Ciryl Gane at UFC 270. USA TODAY Sports
    Francis Ngannou celebrates his win over Ciryl Gane at UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane grapple on the canvas during UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane grapple on the canvas during UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane (attempt to lock each other during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane (attempt to lock each other during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane compete during UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane compete during UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane compete during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane compete during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou lands a body shot on Ciryl Gane during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou lands a body shot on Ciryl Gane during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane grapple on the canvas during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane grapple on the canvas during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane grapple on the canvas during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane grapple on the canvas during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane trade blows during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane trade blows during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane fight during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane fight during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane fight during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane fight during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou throws a punch at Ciryl Gane during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou throws a punch at Ciryl Gane during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou throws a punch at Ciryl Gane during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou throws a punch at Ciryl Gane during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane trade kicks during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane trade kicks during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Ciryl Gane lands a punch on Francis Ngannou during their heavyweight title bout at UFC 270. USA TODAY Sports
    Ciryl Gane lands a punch on Francis Ngannou during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Ciryl Gane lands a jab on Francis Ngannou during their heavyweight title bout at UFC 270. USA TODAY Sports
    Ciryl Gane lands a jab on Francis Ngannou during their heavyweight title bout at UFC 270. USA TODAY Sports
  • Francis Ngannou and Ciryl Gane fight during their heavyweight title bout at UFC 270. USA TODAY Sports
    Francis Ngannou and Ciryl Gane fight during their heavyweight title bout at UFC 270. USA TODAY Sports

Francis Ngannou won't sign new UFC deal - unless Tyson Fury bout is part of agreement


John McAuley
  • English
  • Arabic

UFC heavyweight champion Francis Ngannou says any new contract with the promotion must include an option to fight boxing star Tyson Fury in a crossover bout.

The Cameroonian, currently recovering from knee surgery, has been involved in an often public dispute with the UFC having fought out his most recent deal with victory against Ciryl Gane at UFC 270 in January. Since he is champion, he can become a free agent only in December.

Speaking on Monday night on The MMA Hour, Ngannou told host Ariel Helwani that he had had clear-the-air talks with the UFC over dinner since the Gane win and then again last week with UFC chief business officer Hunter Campbell, although he did add that “as far as business, we haven’t really moved on”.

“There is a lot of work to do here,” Ngannou said.

However, in terms of a new deal with the UFC, Ngannou stated unequivocally that he wants the opportunity to take on Fury. The two heavyweight champions of their respective sports met in the ring following Fury’s successful WBC title defence against Dillian Whyte at London’s Wembley Stadium on Saturday, with both reiterating their desire to go head-to-head in a crossover fight.

After defeating Whyte by sixth-round knockout, the undefeated Fury (32-0-1) said he was retiring from professional boxing.

On Monday, Ngannou told The MMA Hour: “The Tyson Fury fight has to be part of the discussion. That’s not an option. It has to be part of the discussion, because if that’s not part of the discussion now, it will never be.

"If I sign another contract now, and basically the same model of a contract, I’m screwed. It’s not happening ever. So we have to figure out a way to implement this into a contract.”

Ngannou added: “My contract situation is not a roadblock because either way, my contract situation will not stop me from fighting. So I think it’s pretty easy. Tyson Fury’s contract situation as well is coming up soon, therefore, there’s nothing that can hold us from doing it.”

Ngannou, 35, is 17-3 in pro MMA having put together a six-fight win streak following successive losses in 2018. He won the heavyweight belt in March last year, with a second-round knockout of then-champion Stipe Miocic, then came through his first defence in dominant fashion against No 1-ranked contender Gane.

“I think the UFC is a great promotion and I want to keep fighting,” Ngannou said. “Tyson Fury is not my last fight. I want to keep fighting after Tyson Fury. There’s still a lot of fights out there.

“There’s Jon Jones, there’s a trilogy with Stipe [they first fought in January 2018, with Miocic the victor], there’s big fights I can do in the UFC, so I would really like that to happen. I would really like also to get to a common point.

"Yes, I can do Tyson Fury on my own, but what next? I would like to keep fighting. I would like for us to come to an agreement, but for that they have to have a good understanding of the situation.”

Fury stops Whyte to retain WBC title

  • Tyson Fury celebrates with his belts after beating Dillian Whyte by sixth-round stoppage. AP
    Tyson Fury celebrates with his belts after beating Dillian Whyte by sixth-round stoppage. AP
  • Tyson Fury celebrates his knockout win over Dillian Whyte to retain his WBC heavyweight title at Wembley Stadium on Saturday, April 23, 2022 as referee Mark Lyson supports Whyte on the ropes. Reuters
    Tyson Fury celebrates his knockout win over Dillian Whyte to retain his WBC heavyweight title at Wembley Stadium on Saturday, April 23, 2022 as referee Mark Lyson supports Whyte on the ropes. Reuters
  • Tyson Fury celebrates with his wife Paris, right, and trainer SugarHill Steward. AP
    Tyson Fury celebrates with his wife Paris, right, and trainer SugarHill Steward. AP
  • Tyson Fury knocks down Dillian Whyte during their WBC heavyweight title fight. AP
    Tyson Fury knocks down Dillian Whyte during their WBC heavyweight title fight. AP
  • Tyson Fury celebrates after knocking down Dillian Whyte during their WBC heavyweight title fight. PA
    Tyson Fury celebrates after knocking down Dillian Whyte during their WBC heavyweight title fight. PA
  • Dillian Whyte is surrounded by his team after his defeat to Tyson Fury at Wembley Stadium. PA
    Dillian Whyte is surrounded by his team after his defeat to Tyson Fury at Wembley Stadium. PA
  • Tyson Fury throws a jab at Dillian Whyte. AP
    Tyson Fury throws a jab at Dillian Whyte. AP
  • Tyson Fury lands a right cross on Dillian Whyte during their WBC world heavyweight title fight. Getty
    Tyson Fury lands a right cross on Dillian Whyte during their WBC world heavyweight title fight. Getty
  • Tyson Fury lands a body punch on Dillian Whyte during the WBC world heavyweight title fight. Getty
    Tyson Fury lands a body punch on Dillian Whyte during the WBC world heavyweight title fight. Getty
  • Dillian Whyte lands a reaching cross on Tyson Fury during their WBC world heavyweight title fight. Getty
    Dillian Whyte lands a reaching cross on Tyson Fury during their WBC world heavyweight title fight. Getty
  • Tyson Fury and Dillian Whyte exchange punches during their WBC world heavyweight title fight. Getty
    Tyson Fury and Dillian Whyte exchange punches during their WBC world heavyweight title fight. Getty
  • Tyson Fury during his ring walk ahead of his WBC heavyweight title fight against Dillian Whyte. PA
    Tyson Fury during his ring walk ahead of his WBC heavyweight title fight against Dillian Whyte. PA
  • Fireworks are set off during Tyson Fury's ring walk for his WBC heavyweight title boxing fight against Dillian Whyte. AP
    Fireworks are set off during Tyson Fury's ring walk for his WBC heavyweight title boxing fight against Dillian Whyte. AP
  • Tyson Fury sits on a throne during his ring walk to face Dillian Whyte at Wembley Stadium. Getty
    Tyson Fury sits on a throne during his ring walk to face Dillian Whyte at Wembley Stadium. Getty
  • Tyson Fury pumps his arms to the crowd during his ring walk to fight Dillian Whyte. Getty
    Tyson Fury pumps his arms to the crowd during his ring walk to fight Dillian Whyte. Getty
  • Tyson Fury soaks up the cheers from the crowd during his ring walk ahead of his fight against Dillian Whyte. Reuters
    Tyson Fury soaks up the cheers from the crowd during his ring walk ahead of his fight against Dillian Whyte. Reuters
Sri Lanka squad

Dinesh Chandimal, Dimuth Karunaratne, Kaushal Silva, Kusal Mendis, Angelo Mathews, Lahiru Thirimanne, Niroshan Dickwella, Sadeera Samarawickrama, Rangana Herath, Suranga Lakmal, Nuwan Pradeep, Lakshan Sandakan, Vishwa Fernando, Lahiru Kumara, Jeffrey Vandersay, Milinda Siriwardana, Roshen Silva, Akila Dananjaya, Charith Asalanka, Shaminda Eranga and Dhammika Prasad.

The specs

Engine: 1.6-litre 4-cyl turbo

Power: 217hp at 5,750rpm

Torque: 300Nm at 1,900rpm

Transmission: eight-speed auto

Price: from Dh130,000

On sale: now

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
Stamp%20duty%20timeline
%3Cp%3E%3Cstrong%3EDecember%202014%3A%3C%2Fstrong%3E%20%20Former%20UK%20chancellor%20of%20the%20Exchequer%20George%20Osborne%20reforms%20stamp%20duty%20land%20tax%20(SDLT)%2C%20replacing%20the%20slab%20system%20with%20a%20blended%20rate%20scheme%2C%20with%20the%20top%20rate%20increasing%20to%2012%20per%20cent%20from%2010%20per%20cent%3A%3C%2Fp%3E%0A%3Cp%3EUp%20to%20%C2%A3125%2C000%20%E2%80%93%200%25%3B%20%C2%A3125%2C000%20to%20%C2%A3250%2C000%20%E2%80%93%202%25%3B%20%C2%A3250%2C000%20to%20%C2%A3925%2C000%20%E2%80%93%205%25%3B%20%C2%A3925%2C000%20to%20%C2%A31.5m%3A%2010%25%3B%20More%20than%20%C2%A31.5m%20%E2%80%93%2012%25%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApril%202016%3A%3C%2Fstrong%3E%20New%203%25%20surcharge%20applied%20to%20any%20buy-to-let%20properties%20or%20additional%20homes%20purchased.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJuly%202020%3A%3C%2Fstrong%3E%20Chancellor%20Rishi%20Sunak%20unveils%20SDLT%20holiday%2C%20with%20no%20tax%20to%20pay%20on%20the%20first%20%C2%A3500%2C000%2C%20with%20buyers%20saving%20up%20to%20%C2%A315%2C000.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMarch%202021%3A%3C%2Fstrong%3E%20Mr%20Sunak%20extends%20the%20SDLT%20holiday%20at%20his%20March%203%20budget%20until%20the%20end%20of%20June.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApril%202021%3A%3C%2Fstrong%3E%202%25%20SDLT%20surcharge%20added%20to%20property%20transactions%20made%20by%20overseas%20buyers.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJune%202021%3A%3C%2Fstrong%3E%20SDLT%20holiday%20on%20transactions%20up%20to%20%C2%A3500%2C000%20expires%20on%20June%2030.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJuly%202021%3A%3C%2Fstrong%3E%20Tax%20break%20on%20transactions%20between%20%C2%A3125%2C000%20to%20%C2%A3250%2C000%20starts%20on%20July%201%20and%20runs%20until%20September%2030.%3C%2Fp%3E%0A
How to increase your savings
  • Have a plan for your savings.
  • Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
  • Decide on a financial goal that is important to you and put your savings to work for you.
  • It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings. 

- Carol Glynn, founder of Conscious Finance Coaching

 

 

Teri%20Baaton%20Mein%20Aisa%20Uljha%20Jiya
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Amit%20Joshi%20and%20Aradhana%20Sah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECast%3A%3C%2Fstrong%3E%20Shahid%20Kapoor%2C%20Kriti%20Sanon%2C%20Dharmendra%2C%20Dimple%20Kapadia%2C%20Rakesh%20Bedi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
The biog

First Job: Abu Dhabi Department of Petroleum in 1974  
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EShaffra%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2023%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDIFC%20Innovation%20Hub%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Emetaverse-as-a-Service%20(MaaS)%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3Ecurrently%20closing%20%241.5%20million%20seed%20round%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-seed%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%20Abu%20Dhabi%20and%20different%20PCs%20and%20angel%20investors%20from%20Saudi%20Arabia%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3Enine%3C%2Fp%3E%0A
Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
  •  14 kilometres is the length of LED lights used on the facade
  •  1,024 individual pieces make up the exterior 
  •  7 floors in all, with one for administrative offices
  •  2,400 diagonally intersecting steel members frame the torus shape
  •  100 species of trees and plants dot the gardens
  •  Dh145 is the price of a ticket
FA CUP FINAL

Manchester City 6
(D Silva 26', Sterling 38', 81', 87', De Bruyne 61', Jesus 68')

Watford 0

Man of the match: Bernardo Silva (Manchester City)

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Inside%20Out%202
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3EKelsey%20Mann%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%C2%A0Amy%20Poehler%2C%20Maya%20Hawke%2C%20Ayo%20Edebiri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4.5%2F5%3C%2Fp%3E%0A
From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

ROUTE%20TO%20TITLE
%3Cp%3E%3Cstrong%3ERound%201%3A%3C%2Fstrong%3E%20Beat%20Leolia%20Jeanjean%206-1%2C%206-2%3Cbr%3E%3Cstrong%3ERound%202%3A%20%3C%2Fstrong%3EBeat%20Naomi%20Osaka%207-6%2C%201-6%2C%207-5%3Cbr%3E%3Cstrong%3ERound%203%3A%20%3C%2Fstrong%3EBeat%20Marie%20Bouzkova%206-4%2C%206-2%3Cbr%3E%3Cstrong%3ERound%204%3A%3C%2Fstrong%3E%20Beat%20Anastasia%20Potapova%206-0%2C%206-0%3Cbr%3E%3Cstrong%3EQuarter-final%3A%20%3C%2Fstrong%3EBeat%20Marketa%20Vondrousova%206-0%2C%206-2%3Cbr%3E%3Cstrong%3ESemi-final%3A%20%3C%2Fstrong%3EBeat%20Coco%20Gauff%206-2%2C%206-4%3Cbr%3E%3Cstrong%3EFinal%3A%3C%2Fstrong%3E%20Beat%20Jasmine%20Paolini%206-2%2C%206-2%3C%2Fp%3E%0A
How Filipinos in the UAE invest

A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.

Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).

Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.

A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed
The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

What is a black hole?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

RESULT

Liverpool 4 Southampton 0
Jota (2', 32')
Thiago (37')
Van Dijk (52')

Man of the match: Diogo Jota (Liverpool)

Scores in brief:

  • New Medical Centre 129-5 in 17 overs bt Zayed Cricket Academy 125-6 in 20 overs.
  • William Hare Abu Dhabi Gymkhana 188-8 in 20 overs bt One Stop Tourism 184-8 in 20 overs
  • Alubond Tigers 138-7 in 20 overs bt United Bank Limited 132-7 in 20 overs
  • Multiplex 142-6 in 17 overs bt Xconcepts Automobili 140 all out in 20 overs
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nag%20Ashwin%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EPrabhas%2C%20Saswata%20Chatterjee%2C%20Deepika%20Padukone%2C%20Amitabh%20Bachchan%2C%20Shobhana%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E%E2%98%85%E2%98%85%E2%98%85%E2%98%85%3C%2Fp%3E%0A
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

Poacher
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERichie%20Mehta%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Nimisha%20Sajayan%2C%20Roshan%20Mathew%2C%20Dibyendu%20Bhattacharya%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Hili 2: Unesco World Heritage site

The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.

THE SPECS

Engine: 1.5-litre turbocharged four-cylinder

Transmission: Constant Variable (CVT)

Power: 141bhp 

Torque: 250Nm 

Price: Dh64,500

On sale: 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.”

Updated: April 26, 2022, 7:11 AM