Max Verstappen dominant again as world champion wins Austrian GP


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Max Verstappen maintained his tight grip on the drivers' championship after winning the Austraian Grand Prix in Spielberg on Sunday.

The Dutch driver – who won Saturday's sprint race, started the GP in pole position and dominated the entire weekend at the Red Bull Ring – secured his 42nd career win in style as he powers towards a third title in a row.

Ferrari's Charles Leclerc finished second to split the Red Bulls at their home circuit with Sergio Perez completing the podium. It was Red Bull's 10th successive victory and ninth in nine races this season.

Verstappen stretched his lead over Mexican teammate Sergio Perez to 81 points but was made to work for his fifth win in a row and seventh of the campaign after he passed Leclerc and Carlos Sainz.

But after manoeuvring himself ahead of both Ferrari drivers, Verstappen raced off into the distance to the delight of his 70,000-strong travelling army from Netherlands.

Leclerc crossed the line five seconds behind Verstappen, with Sergio Perez recovering from his lowly grid slot of 15th to finish third. The Mexican fought his way past Sainz with 10 laps remaining following a nip-and-tuck duel.

Sainz took fourth after he served five-second penalty for exceeding track limits.

“I think most important to me was of course lap one to stay in front after that we could do our own race,” Verstappen said.

“Of course we opted not to box during the virtual safety car and just follow our normal strategy and I think that worked out really well. The tyre life was not that high around here and I think our stints were perfect so a great day, I enjoyed it a lot.”

Asked about his world championship lead, the 25-year-old added: “I don’t like to think about that yet I’m just enjoying the moment driving this car, working with the team, I think the whole weekend we have done a really good job, the sprint weekend is always very hectic and a lot of things can go wrong and luckily a lot of things went right for us this weekend.”

For Leclerc, it was relief to be back on the podium for only the second time this season and the first since finishing third at the Azerbaijan GP on April 30.

“Yeah I think Friday and today, we maximised what we had. It was more yesterday that I was off pace but its good to be back on the podium,” said the Monegasque.

“The upgrades we brought made me feel better. It's looking good for future. The team did an excellent job to bring the upgrades earlier. Obviously there's still a lot to do, Max and Checo have a lot of pace.

“Together with Austria and the British Grand Prix, these are my favourite two tracks. At Silverstone we always have great results so hopefully we can take advantage of the upgrades on the car and challenge the Red Bulls.”

Mercedes' Lewis Hamilton finished an underwhelming seventh, while Lando Norris ended the day in fifth to record his best result of a difficult season for his underperforming McLaren team. Aston Martin's Fernando Alonso finished between Norris and Hamilton.

Hamilton's teammate George Russell made up three places from his starting spot of 11th to finish eighth.

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UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WallyGPT%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2014%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESaeid%20and%20Sami%20Hejazi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%20%3C%2Fstrong%3E%247.1%20million%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%20round%3C%2Fp%3E%0A

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.”

Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

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5 Amancio Ortega $67.9 billion
6 Mark Zuckerberg $67.3 billion
7 Larry Page $56.8 billion
8 Larry Ellison $56.1 billion
9 Sergey Brin $55.2 billion
10 Carlos Slim $55.2 billion

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List of alleged parties

 May 15 2020: PM and Carrie attend 'work meeting' with at
least 17 staff members

May 20 2020: PM and Carrie attend 'bring your own booze'
party

Nov 27 2020: PM gives speech at leaving do for his staff

Dec 10 2020: Staff party held by then-education secretary
Gavin Williamson

Dec 13 2020: PM and Carrie throw a flat party

Dec 14 2020: London mayor candidate Shaun Bailey holds staff party at Conservative
Party headquarters

Dec 15 2020: PM takes part in a staff quiz

Dec 18 2020: Downing Street Christmas party

Updated: July 02, 2023, 3:30 PM