Peter Sampson of the Abu Dhabi Harlequins (then the Bats) dives for the ball during a match against the Dubai Hurricanes at the Palm Sports Resort in Al Ain in April.
Peter Sampson of the Abu Dhabi Harlequins (then the Bats) dives for the ball during a match against the Dubai Hurricanes at the Palm Sports Resort in Al Ain in April.

All rosy in Quins garden



ABU DHABI // Although many will see the Harlequins deal as the brightest flower in Abu Dhabi's rugby garden, the club have been busy planting seeds that will see many others blossom next season, according to the club's chairman. Richard Harris has been associated with Abu Dhabi's premier rugby club, formerly known as the Bats, for the last six years, where he was captain for two in his playing days and is about to mark his second season in the job as the club's chairman. Mr Harris was at the helm when the club's main sponsors, Etihad - the Abu Dhabi airline company ? helped set up the Harlequins deal, as they also sponsor the English Guinness Premiership club. Although he accepts how much the deal has done for the club's profile, Mr Harris believes the deal represents good exposure for the English Guinness Premiership side as well and that the club hope to groom players, including Emiratis, capable of representing the famous English side. "Yes we're very fortunate to have our name associated with a club as big and as famous as Harlequins," says Harris. "But they're getting something out of the deal too. They're getting a lot of exposure in an area of huge sovereign wealth. "Our profile is getting bigger and bigger and that's helping us attract a better calibre of player, as well as getting young kids more interested in the game. "Next season we'll have a few players who've played representative rugby and also a young lad who was with the Saracens (another Guinness Premiership side) academy. "We're also speaking with the Abu Dhabi Sports Council to try and bring them on board with helping the development of both the club and young Emirati players to get more of them playing the game. "That's just one of our focuses. We want to see more Emirati players at this club. We know Harlequins have a wealth of talent to choose from in the UK but if this deal develops how we believe it will we hope to produce players who they'll want to take a closer look at. "We want players and coaches who, should they decide to leave us, be comfortable at the same level at any club they go to." The first team will be challenging on three fronts next term having won the Arabian Cup last season. More recruits have finally given the team the confidence to field a second string side next season in the Emirates League. Mr Harris admits the number of players to call upon is a far cry from when he first joined the club with the team sometimes struggling to find enough players for a starting XV. Etihad will sponsor a host of junior tournaments next season and Harris says he sees the labours of his work to get more players involved at all levels of the game starting to bear fruit. "When I first joined the club we had no numbers," Mr Harris said. "We literally had to scrape around to find enough people to put a first 15 out, let alone worry about a second team. "Last year we had 570 registered players and we're hoping to top that this season. "The future is looking bright for the sport in Abu Dhabi. We've got 350 juniors on the books and 40 coaches dedicated to their development. "This year we're hoping to see all our hard work over the last few years pay off. All the structures have been put in place for us to succeed this year and beyond. We had a few teams in finals last year but this year we're looking to improve at all age levels and win as many trophies as possible." Part of Mr Harris' vision of seeing the club go professional by 2013 involves them finding their own home. The Al Ghazal Golf Club has long been home for the municipality side but part of the club's five-year plan will see them welcoming visiting teams to their very own ground. "They (Al Ghazal) have told us we can build our own clubhouse if we want too," said Mr Harris. "Al Ghazal have been good to us, but we generate a lot of income for them and they need us a bit more. "But having our own home would be our own income generator. That's something we've got to be looking at by 2013. We've spoken to Zayed Sports City about the possibility of playing our home games there, but we'll have to see what develops," he added. Although not everyone at the club was happy to see the team lose their traditional Bats name, it is hard to argue against the point that the deal has opened more doors in terms of commercial opportunities with the likes of the insurance firm Nexus and car giant Audi coming on board or increasing their sponsorship deals with the club. The club chairman wants to see the Abu Dhabi Harlequins model used as a template for the International Rugby Board (IRB) should it prove successful, taking the game to lesser rugby playing nations such as Thailand and other South East Asian countries.

sluckings@thenational.ae

RESULT

Argentina 0 Croatia 3
Croatia: 
Rebic (53'), Modric (80'), Rakitic (90' 1)

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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.”

JOKE'S%20ON%20YOU
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How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

Without Remorse

Directed by: Stefano Sollima

Starring: Michael B Jordan

4/5

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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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Business Insights
  • Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
  • The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
  • US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
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