Scything across the ribbon of tarmac that carves through rocky mountainous terrain between Huwaylat and Hatta, the Lotus Exige 410 Sport instils a feeling best described as high-velocity nirvana. The last remaining sportster without power steering or an automated sequential gearbox, the Exige demands a lot from its driver, and herein lies the reward. The driving pleasure it affords doesn’t come gift-wrapped; you have to earn it.
This isn’t merely a run-of-the mill Exige 410 Sport (not that there’re many of those, anyway). This is the 20th anniversary edition, which chalks up two decades of the Exige – a glorious yet flawed pocket rocket and the last of the purely analogue supercars. It’s the embodiment of Lotus founder Colin Chapman’s oft-quoted mantra: “Adding power makes you faster on the straights. Subtracting weight makes you faster everywhere.”
Bare necessities
You won’t find anything in the Exige that doesn’t contribute to the function of driving, unless you count the laughable DAB radio that looks as though it’s time-travelled from the 1980s. Inside are just the basics – a small plastic-cowled instrument cluster with a speedo and tachometer, plus three twist knobs for air-con and heating.
THE SPECS
Engine: 3.5-litre supercharged V6
Power: 416hp at 7,000rpm
Torque: 410Nm at 3,500rpm
Transmission: 6-speed manual
Fuel consumption: 10.2 l/100km
Price: Dh375,000
On sale: now
A lengthy aluminium gear lever sprouts from an aperture in the centre console, and behind this sits a pull-up handbrake. The Exige is as raw and basic as it gets.
You need to stick the key in the ignition before you can fire up the Toyota-sourced 3.5-litre supercharged V6. This motor ekes out 416hp and 410Nm, which might not sound mind-blowing, but the key point to note is that the Exige weighs only 1,110 kilograms (thanks Chapman).
This litheness enables it to sprint from 0 to 100 kilometres per hour in 3.4 seconds and hit 280kph flat out. But straight-line performance isn’t really what this car’s about.
Pootling around town, you may wonder why you’d spend Dh375,000 on a car with such a bare-bones interior.
Worse still, it’s flimsy, rattly and squeaky. Getting in and out is no cakewalk either because the extra-wide doorsill and super-low seating position necessitate some gymnastics. No power-assist means steering effort is high at parking speeds. What’s more, the V6 drones noisily on the highway, especially because it’s situated just behind your ears, with not much insulation separating you from it.
Back-road blaster
It all begins to make sense when you get the lightweight Lotus out on roads that resemble strands of spaghetti, with more twists and turns than straights. Suddenly, all the Exige’s many annoyances seem to evaporate. The non-assisted steering makes your fingertips feel hard-wired to the front wheels, and the Lotus dances with every input you make.
Its razor-sharp agility is complemented by well-modulated AP Racing brakes, a slick gearbox and whip-crack throttle response, bringing to mind the often misappropriated “race car for the road” cliche. It fits here.
If there’s a disappointment, it’s the agricultural soundtrack belted out by the Toyota V6. The only saving grace aurally is the supercharger whine, which evokes Mad Max imagery, but, other than that, there’s nothing sweet-sounding about it. On the plus side, the supercharged V6 thumps out decent mid-range torque and it revs cleanly to 7,000rpm.
The Exige’s sublime balance, compactness and tactility add up to a formidable back-road blaster or track car, so in this context it begins to seem like a bargain at Dh375k. In terms of raw pace or pure driver engagement on challenging roads, there’s not much that comes close, apart from Porsche’s 718 Cayman GT4 and 911 GT3, or an offering from the Ferrari/Lamborghini/McLaren portfolio. Needless to say, all barring the Cayman GT4 cost multiples of what the Exige will set you back.
Over all that, the Exige 410 Sport 20th Anniversary – which features decals, a dashboard plaque and embroidery on the seats commemorating the model’s two-decade heritage – is literally the last of its generation because Exige production has now been terminated. A new era for Lotus – featuring cars such as the more cosseting Emira and fully electrified Evija – lies ahead, but driving purists will lament the demise of the uncompromising Exige, the likes of which we’ll probably never see again.
The specs
Engine: 8.0-litre, quad-turbo 16-cylinder
Transmission: 7-speed auto
0-100kmh 2.3 seconds
0-200kmh 5.5 seconds
0-300kmh 11.6 seconds
Power: 1500hp
Torque: 1600Nm
Price: Dh13,400,000
On sale: now
UAE currency: the story behind the money in your pockets
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.”
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
Know your cyber adversaries
Cryptojacking: Compromises a device or network to mine cryptocurrencies without an organisation's knowledge.
Distributed denial-of-service: Floods systems, servers or networks with information, effectively blocking them.
Man-in-the-middle attack: Intercepts two-way communication to obtain information, spy on participants or alter the outcome.
Malware: Installs itself in a network when a user clicks on a compromised link or email attachment.
Phishing: Aims to secure personal information, such as passwords and credit card numbers.
Ransomware: Encrypts user data, denying access and demands a payment to decrypt it.
Spyware: Collects information without the user's knowledge, which is then passed on to bad actors.
Trojans: Create a backdoor into systems, which becomes a point of entry for an attack.
Viruses: Infect applications in a system and replicate themselves as they go, just like their biological counterparts.
Worms: Send copies of themselves to other users or contacts. They don't attack the system, but they overload it.
Zero-day exploit: Exploits a vulnerability in software before a fix is found.
THE SPECS
Engine: 3.5-litre supercharged V6
Power: 416hp at 7,000rpm
Torque: 410Nm at 3,500rpm
Transmission: 6-speed manual
Fuel consumption: 10.2 l/100km
Price: Dh375,000
On sale: now