Lewis Hamilton makes the Wakanda salute at the Belgian GP after Chadwick Boseman - the actor who played the lead role in the 'Black Panther' superhero movie - died on Saturday. Getty
Lewis Hamilton makes the Wakanda salute at the Belgian GP after Chadwick Boseman - the actor who played the lead role in the 'Black Panther' superhero movie - died on Saturday. Getty
Lewis Hamilton makes the Wakanda salute at the Belgian GP after Chadwick Boseman - the actor who played the lead role in the 'Black Panther' superhero movie - died on Saturday. Getty
Lewis Hamilton makes the Wakanda salute at the Belgian GP after Chadwick Boseman - the actor who played the lead role in the 'Black Panther' superhero movie - died on Saturday. Getty

Formula One: Lewis Hamilton pays tribute to Chadwick Boseman after securing pole position at Belgian Grand Prix


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Lewis Hamilton continued his dominance of the Formula One season by putting his Mercedes on pole position for the Belgian Grand Prix.

Hamilton, who holds a 37-point championship lead over Red Bull's Max Verstappen, beat teammate Valtteri Bottas to top spot with a new track record at Spa-Francorchamps.

The world champion saw off Bottas's challenge around the iconic 7 kilometre venue in the Ardennes by a mighty half a second. Verstappen lines up in third ahead of Renault's Daniel Ricciardo.

"That one was for Chadwick [Boseman]," said Hamilton, in reference to the Hollywood star who died on Saturday. "Rest in peace, mate."

After Sebastian Vettel finished rooted to the foot of the timings in final practice, Ferrari had been staring at one of the most humiliating afternoons in the Italian team's long history.

However, very much against the odds, both scarlet cars avoided the embarrassment of being knocked out in Q1.

Instead, Leclerc, who won from pole here last year, will start 13th – one spot ahead of teammate Vettel in what is proving to be a season to forget for the Scuderia.

"There's not much more I can do," said a despondent Leclerc on the radio.

British driver Hamilton, though, remains firmly on course to match Michael Schumacher's record seven championships.

The pack had appeared closer to the all-black machines heading into qualifying.

But Mercedes, and in particular its star driver, proved their class by locking out the front row for a sixth time in seven rounds.

They have taken pole at all of the races this year, with Hamilton claiming his fifth pole of 2020 and sixth at Spa.

"It is a really important pole because I woke up to the saddest news of Chadwick passing away," Hamilton said.

"It has been such a heavy year for all of us, and that news just broke me so it was not easy to get back into focus with that in my heart. But I wanted to drive to perfection for what he has done for our people and how he has shown young kids what is possible."

Ferrari have led the challenge to Mercedes in recent seasons but they have suffered after an FIA investigation into the engine they used last year.

Indeed, it shows how far the sport's most successful team has fallen that locking out the seventh row of the grid will be considered something of a decent result.

Further questions will continue to be asked of Ferrari and the team's beleaguered boss Mattia Binotto at their home race in Monza and their 1,000th Grand Prix at Mugello a week later.

British driver Lando Norris finished 10th in his McLaren while George Russell out-qualified his Williams teammate Nicholas Latifi for a seventh time in as many rounds. The young Briton lines up in 15th, just behind the Ferrari pair.

Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes. 
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com

Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

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.”

Seven tips from Emirates NBD

1. Never respond to e-mails, calls or messages asking for account, card or internet banking details

2. Never store a card PIN (personal identification number) in your mobile or in your wallet

3. Ensure online shopping websites are secure and verified before providing card details

4. Change passwords periodically as a precautionary measure

5. Never share authentication data such as passwords, card PINs and OTPs  (one-time passwords) with third parties

6. Track bank notifications regarding transaction discrepancies

7. Report lost or stolen debit and credit cards immediately

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

'Spies in Disguise'

Director: Nick Bruno and Troy Quane

Stars: Will Smith, Tom Holland, Karen Gillan and Roshida Jones 

Rating: 4 out of 5 stars

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m