Another week, another new Lotus. Thankfully though, this time it's a real car - with an engine, an interior and petrol in the tank. After so many grand (plenty would say ridiculous) plans, it feels good to be making the trip towards Norwich, UK, to drive a genuine, fully working car that's been developed by the masters of all things handling.
The situation is made all the more poignant because, firstly, the new Exige S was never meant to be part of the company's grand plan, and has been something of an engineers' pet project within Lotus. And secondly, because in the period between me driving the car and you reading this, controversial CEO Dany Bahar will have left the building in something of a hurry, due to, as Lotus calls it, "misappropriation of funds." But he's said to have started legal proceedings against the company, so that drama is just beginning.
Where this motoring soap opera will end it's hard to say, but surely anyone who loves cars and driving hopes that Lotus finds stability and the right management to allow them to continue to make great cars. Great cars, frankly, like this new Exige S. Although this new Exige continues with the same name and is based upon the current Elise/Exige Mk2 aluminium tub, it really is a very different animal, whether viewed as a technical object or subjectively, from behind the wheel.
It's quite a bit bigger for a start, with redesigned bodywork clothing an additional 70mm in the wheelbase and wider front and rear tracks of 25mm/38mm respectively. The reason is down to the muscle-bound 3.5L Toyota V6 mounted amidships: remember, up until now the Exige - whether Mk1 with Rover power or Mk2 with Toyota engines - have been powered by 1.8L, four-cylinder engines. The V6 is essentially the same as the one found in the Evora S, meaning it also benefits from the Eaton type Harrop supercharger. It develops 350hp and 400Nm - outputs that clearly chart the new Exige into fresh waters and into the paths of new rivals.
Developing the Exige's chassis to effectively deploy this kind of performance obviously meant meeting some significant challenges, but it also brought with it an opportunity. Working with next-to-no money, the engineers nevertheless managed to attend to a weakness in the then-current car they were well aware of: a lack of torsional stiffness in the rear chassis/suspension area. So, with a completely new rear subframe and new suspension components such as wishbones, bushes and retuned springs and dampers, the team was able to radically alter the way in which the Exige handles. For the first time, an Exige features a rear anti-roll bar, too, and there's a formidable new braking set-up.
The front suspension was also given a radical overhaul, the overall goal with the chassis being to retain the legendary agility and purity, but to calm the behaviour of the car on the limit for a safer, and more satisfying experience - and a faster one.
Even so, Lotus has called upon the dark art of chassis electronics like never before to complement the new mechanical changes. Working closely with German electronics company Bosch, the Exige S features an advanced traction control system that incorporates Electronic Brake Distribution, Electronic Stability Control and Understeer Recognition among the nerdy acronyms. It has four operating modes: Touring, Sport, Race and Off.
However, all is not as it seems, because each mode doesn't simply strip away more electronic intervention than the last. Touring, granted, is for wet, windy nights when you just want to get home. Sport - that's where you'll leave the switch on the dashboard for most of the time, as it sharpens up the Exige's responses and opens the exhaust valve for more noise. Race, however, actually learns the grip levels of the circuit in the space of a lap or two, and then does everything in its power to make your lap as smooth and fast as is possible, much like the technology deployed in F1 a few years back. "Off", well, that's just you and the car.
You still have to do the Lotus "twist and shimmy" dance to get into the Exige S, because the sills are still wide and the cabin as intimate and purposeful as ever. There have been a few minor strides in quality and features, but it's still all about the small steering wheel in front of you and the three pedals, not so much the switchgear.
Fire up the Exige S and immediately the deep, resonant blast of the V6 takes centre stage, but that's nothing compared with its impact when you're on the move. Sure, 350hp in a car as lithe as this (OK, at 1,170kg it's no longer the sub-ton flyweight, but then it's a bigger, different sort of car) is formidable, but what's really changed is the torque, and how it's delivered. In short, if you jump on the throttle at low to medium revs, the Exige now leaps forward as if rear-ended by a runaway artic. No Exige ever punched like this; ripping out of tight, second gear corners, or executing a nonchalant low speed overtake using fourth gear alone. You squeeze the throttle; the Exige S simply flies (0-to-100kph takes just 3.8 seconds).
And yet, it's still the chassis that leaves you slightly incredulous. Like the rethought steering, that strikes the perfect balance between feel and accuracy - so good that it's like placing your palms on the road surface itself as it passes beneath the car. That deft agility is still there, but there's a newfound confidence and maturity to the way the Exige drives, particularly at speed on the racing circuit, that means you spend less time hanging on to it, and more time probing your limits, as well as those of the car. Reserves of grip are huge, and yet it's surprisingly comfortable on the road - even with the optional Race Pack and its Pirelli Trofeo track-biased tyres.
So good is the chassis that, if anything, it's the new power train that still doesn't quite match it for lustre. It now has the performance to compete with serious supercars, but in its responses and soundtrack it doesn't possess that last percentage of sparkle and polish that defines a great Porsche flat-six or a Maserati V8. It's from humble stock, and it shows - just - and the six-speed gearbox, as with the Evora, has a remote, occasionally awkward character that can baulk if rushed.
The new Exige S is a truly exciting car. That e-word cannot be overemphasised here, as it is something of a rarity nowadays in a new car market obsessed with numbers, Nürburgring lap times and marketing. There are faster cars, more expensive cars - the Exige S starts at £52,000 (Dh300,000) - and much more showy cars than this Lotus, but there are very few that offer the same thrill - that classic Lotus quality of bonding man and machine together in direct, efficient, enthralling harmony. Try to think of a rival and it's a struggle: you'd need a car that's fun on the road, that can be thrashed on a circuit successfully all day long, and then be driven home in the same state with which it begun the day. A Porsche 997 GT3 is perhaps the only obvious rival, but then it cost twice the price of the Lotus and is no longer in production (for now).
The Exige S shows what Lotus' engineers can do on the sort of budget that a major car corporation sets aside for boardroom pencils. For that reason alone, the company deserves to survive and prosper. With Bahar gone and a nasty taste left in everyone's mouths, undoubtedly it's time for Lotus to take stock, get real and gradually build on the strengths it possesses. Any company that can make a car like the Exige S needs to be taken very seriously indeed.
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.”
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
Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%0D%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%0D%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%0D%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%0D%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%0D%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%0D%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%0D%3C%2Fp%3E%0A
88 Video's most popular rentals
Avengers 3: Infinity War: an American superhero film released in 2018 and based on the Marvel Comics story.
Sholay: a 1975 Indian action-adventure film. It follows the adventures of two criminals hired by police to catch a vagabond. The film was panned on release but is now considered a classic.
Lucifer: is a 2019 Malayalam-language action film. It dives into the gritty world of Kerala’s politics and has become one of the highest-grossing Malayalam films of all time.
Sustainable Development Goals
1. End poverty in all its forms everywhere
2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture
3. Ensure healthy lives and promote well-being for all at all ages
4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
5. Achieve gender equality and empower all women and girls
6. Ensure availability and sustainable management of water and sanitation for all
7. Ensure access to affordable, reliable, sustainable and modern energy for all
8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
10. Reduce inequality within and among countries
11. Make cities and human settlements inclusive, safe, resilient and sustainable
12. Ensure sustainable consumption and production patterns
13. Take urgent action to combat climate change and its effects
14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development
15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
17. Strengthen the means of implementation and revitalise the global partnership for sustainable development
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
UAE currency: the story behind the money in your pockets
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
JOKE'S%20ON%20YOU
%3Cp%3EGoogle%20wasn't%20new%20to%20busting%20out%20April%20Fool's%20jokes%3A%20before%20the%20Gmail%20%22prank%22%2C%20it%20tricked%20users%20with%20%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fmentalplex%2F%22%20target%3D%22_blank%22%3Emind-reading%20MentalPlex%20responses%3C%2Fa%3E%20and%20said%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fpigeonrank%2F%22%20target%3D%22_blank%22%3E%20well-fed%20pigeons%20were%20running%20its%20search%20engine%20operations%3C%2Fa%3E%20.%3C%2Fp%3E%0A%3Cp%3EIn%20subsequent%20years%2C%20they%20announced%20home%20internet%20services%20through%20your%20toilet%20with%20its%20%22%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Ftisp%2Finstall.html%22%20target%3D%22_blank%22%3Epatented%20GFlush%20system%3C%2Fa%3E%22%2C%20made%20us%20believe%20the%20Moon's%20surface%20was%20made%20of%20cheese%20and%20unveiled%20a%20dating%20service%20in%20which%20they%20called%20founders%20Sergey%20Brin%20and%20Larry%20Page%20%22%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fromance%2Fpress.html%22%20target%3D%22_blank%22%3EStanford%20PhD%20wannabes%3C%2Fa%3E%20%22.%3C%2Fp%3E%0A%3Cp%3EBut%20Gmail%20was%20all%20too%20real%2C%20purportedly%20inspired%20by%20one%20%E2%80%93%20a%20single%20%E2%80%93%20Google%20user%20complaining%20about%20the%20%22poor%20quality%20of%20existing%20email%20services%22%20and%20born%20%22%3Ca%20href%3D%22https%3A%2F%2Fgooglepress.blogspot.com%2F2004%2F04%2Fgoogle-gets-message-launches-gmail.html%22%20target%3D%22_blank%22%3Emillions%20of%20M%26amp%3BMs%20later%3C%2Fa%3E%22.%3C%2Fp%3E%0A
Company profile
Company name: Dharma
Date started: 2018
Founders: Charaf El Mansouri, Nisma Benani, Leah Howe
Based: Abu Dhabi
Sector: TravelTech
Funding stage: Pre-series A
Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
Five hymns the crowds can join in
Papal Mass will begin at 10.30am at the Zayed Sports City Stadium on Tuesday
Some 17 hymns will be sung by a 120-strong UAE choir
Five hymns will be rehearsed with crowds on Tuesday morning before the Pope arrives at stadium
‘Christ be our Light’ as the entrance song
‘All that I am’ for the offertory or during the symbolic offering of gifts at the altar
‘Make me a Channel of your Peace’ and ‘Soul of my Saviour’ for the communion
‘Tell out my Soul’ as the final hymn after the blessings from the Pope
The choir will also sing the hymn ‘Legions of Heaven’ in Arabic as ‘Assakiroo Sama’
There are 15 Arabic speakers from Syria, Lebanon and Jordan in the choir that comprises residents from the Philippines, India, France, Italy, America, Netherlands, Armenia and Indonesia
The choir will be accompanied by a brass ensemble and an organ
They will practice for the first time at the stadium on the eve of the public mass on Monday evening
LIVERPOOL SQUAD
Alisson Becker, Virgil van Dijk, Georginio Wijnaldum, James Milner, Naby Keita, Roberto Firmino, Sadio Mane, Mohamed Salah, Joe Gomez, Adrian, Jordan Henderson, Alex Oxlade-Chamberlain, Adam Lallana, Andy Lonergan, Xherdan Shaqiri, Andy Robertson, Divock Origi, Curtis Jones, Trent Alexander-Arnold, Neco Williams
