The names vying for contention at the top of the Slync.io Dubai Desert Classic leaderboard read like a who’s who of the DP World Tour’s top golfers.
So high is the calibre of the field that even those just beyond striking distance of Justin Harding who leads the tournament on 12-under par - Rory McIlroy and Tommy Fleetwood - are major celebs.
Major winners Collin Morikawa and Adam Scott, level in 20th place on 4-under par after Round 3, will go off together at 10.35am in Sunday’s final round.
In the match just in front of them will be Shane Lowry, an Open champion, European Ryder Cup player and multiple winner on tour.
In the Irishman’s three-ball will be the only remaining amateur in the field, a teenager born and raised in Dubai who is playing in just his fourth DP World Tour event.
You might expect 17-year-old Josh Hill to feel intimidated by the stardust floating around him. But he is feeling not one bit of it. The Rolex Series? It feels more like a club championship, he said.
“There’s not much to think about,” Hill said, after carding a relatively stress-free 69 in Round 3.
“It is just another round. Just go play golf and see what happens. I feel like I normally do at a normal tournament, just with some bigger names around me.
“I haven’t let it affect me. I’m just playing like I would in a normal amateur tournament. [Thinking like] this is the club champs.”
Hill made history by becoming the first UAE-born player to make the cut in an Abu Dhabi HSBC Championship, when he did so around Yas Links last week.
He will be heading to the Saudi International next week, so he is getting well used to sharing space on the driving range, as well as the tee-box, with the sport’s great and good.
Even though, the poise with which he had approached this week at the Classic has been startling. Ahead of the final round, his 3-under par total has him sharing 23rd.
His 69 on Saturday included, for the third day running, a shot dropped at the ninth – Friday’s concession at that hole was actually worse, a double-bogey.
It speaks much of Hill’s on-course equilibrium that he never threatened a Tyrrell Hatton-style strop about the difficulty of the par-4. Play better, and you will be rewarded, he said.
“I think it is the hardest hole on the course, but I think it is a fair hole, and if you hit a good shot you are going to get rewarded as well,” Hill said.
“I wouldn’t say I want to bomb it [as Hatton did at Yas a week earlier about the 18th – a hole he birdied on two of the days].
“I do think it is the hardest hole on the course, but I think it is still fair. Of course, I’d like to take it off my scorecard. Unfortunately that’s not possible.”
That bogey at the ninth was the prelude to three successive birdies after the turn. He made five across the round, with just the one further drop at 16.
“I hit it a lot better today than I did [in Round 2],” Hill said.
“I had the same amount of control of the ball as I did in the first round. The front-nine is a tough nine.
“Even though I three-putted nine and bogeyed it, I said to my caddie we could get it back on the back nine. I birdied three in a row, which was nice. Overall, I am pretty pleased with how I played. I made two silly mistakes but 3-under is 3-under.”
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
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.”
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
