Glasgow awaits a double dose of Usain Bolt after the world’s fastest man confirmed he would run in the heats as well as the final of the 4x100-metres relay at the Commonwealth Games.
The Jamaican landed in Scotland on yesterday to add some much-needed star quality to a Games which have been hit by the withdrawal of high-profile athletes like Mo Farah.
Bolt has yet to race this year after taking time to recover from a foot injury, but said the problem had “completely gone” and he was in “pretty good shape”.
His desire to get races under his belt means he will take to the Hampden Park track next Friday for the relay heats and Saturday for the final – provided, of course, his Jamaican team get the baton around.
“I will be running in the heats. I think I need the runs, really, because this is my first run of the season, so I really need to get it going,” the six-time Olympic champion said.
“I expressed it to my coach and I am happy to be here. I have always wanted to compete in the Games. The first one in Australia [in 2006], I strained my hamstring and in 2010 in India, it was in October, which is a bad time for me.
“I got injured earlier in this season and I didn’t want to take anyone’s spot, so I decided, why not just come in the 4x100?”
“The injury is completely gone. Fitness-wise, I have done a lot of training over this past month.
“I have been really pushing myself. I think I am in pretty good shape, but I’m not in running shape. That’s why I am running the heats, just to get a few runs in.”
Bolt only plans to run four times this year.
“So, for me, I am just taking my time, trying to get myself in running shape, but not push myself too much and then get injured again,” he said.
“I am focused on getting through the season and getting some races in.
On those dropping out in Glasgow, Bolt said: “I don’t think anyone has dropped on purpose. It happens in the Olympics, it happens in the world championships. It’s one of those things.”
Scotland find solace in troubling might All Blacks
Scotland captain Colin Gregor believes New Zealand were running scared of his side at Ibrox as the All Blacks held on for a 17-14 win in rugby sevens.
The four-time Commonwealth champions, who have won every match they have ever played at the Games, surged ahead with three tries in the first-half. But, when the hosts regrouped at the break, the Kiwis resorted to some cynical tactics to ensure they retained their unbeaten record.
At one point, they had just five men on the field after Gillies Kaka and Tim Mikkelson were sent off for blatant fouls, which robbed the Scots of a scoring chance.
Gregor, whose side must now beat Barbados and Canada on Saturday to progress, said: “We have played New Zealand loads of times on the World Series over the years, but that is the closest we have taken them for a while.
“You could tell they were worried about us. The crowd helped us as well, but it’s a frustrating result.”
Earlier on Saturday, Wales smashed Malaysia 52-0 an, in Pool B, England got their campaign under way with an emphatic 57-0 victory over Sri Lanka.
In the triathlon, England's dream team made it a clean sweep of gold medals with a dominant victory in the mixed relay.
Vicky Holland, Jonny Brownlee, Jodie Stimpson and Alistair Brownlee were all individual medallists on Thursday, with the latter two winning gold.
This time, Alistair Brownlee finished 49 seconds ahead of second-place South Africa, with Australia third.
The event, which involves each athlete completing a 250-metre swim, six-kilometre bike and 1.6km run, was making its debut at a major Games.
Holland said he believes the sport should be added to the Olympic programme.
“Just look at the atmosphere it generates,” she said. “The lead changes so often. It’s a great spectator event. Guys and girls in the same race – it’s unique.”
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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.”
Countdown to Zero exhibition will show how disease can be beaten
Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a month before Reaching the Last Mile.
Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.
