Shafiq Masih during the Mena Golf Tour event at Al Ain Equestrian Shooting and Golf Club. Jaime Puebla / The National
Shafiq Masih during the Mena Golf Tour event at Al Ain Equestrian Shooting and Golf Club. Jaime Puebla / The National

Shafiq Masih hopes local knowledge helps on Mena Tour



Shafiq Masih is hoping that lightning will strike twice as he looks to win the Dirab Golf Championship on the Mena Tour for a second successive year when the three-day event begins on Monday.
The Pakistani golfer prevailed 12 months ago at Dirab Golf and Country Club in Saudi Arabia and he hopes his experience will give him an edge in the fourth of 10 events this year on the Mena calendar.
"I am pretty familiar with the course, where I have been a teaching professional for many years," he said.
"Local knowledge and memories of last year's win makes me feel great coming back to Dirab Golf and Country Club. It will be a lot of fun if I can win here again. Anything can happen in golf, but my confidence is on a high."
Masih does not go into the event in good form, having missed the cut at last week's Dubai Creek Open, which was won by Zane Scotland for his second triumph in three events this year, leaving the Englishman on top of the Order of Merit.
Scotland has been paired with Pakistan's Hamza Amin in Monday's first round.
Prince Khalid bin Saud Al Faisal will lead the home contingent of six players in the 85-man field.
The Saudi royal will compete in the amateur division and Mena chiefs are thrilled to have him in the competition. "We feel proud and privileged to have prince Khalid in the field," said Mohamed Juma Buamaim, the tour chairman.
"His gesture to sign up for the event is a great advertisement for the overall development of the game in the kingdom."
The three-round competition comes to a conclusion on Wednesday.
sports@thenational.ae

Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
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Company: Eighty6 

Date started: October 2021 

Founders: Abdul Kader Saadi and Anwar Nusseibeh 

Based: Dubai, UAE 

Sector: Hospitality 

Size: 25 employees 

Funding stage: Pre-series A 

Investment: $1 million 

Investors: Seed funding, angel investors  

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The Freedom Artist

By Ben Okri (Head of Zeus)

The struggle is on for active managers

David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.

The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.

Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.

Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.

Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.

At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn. 

UAE currency: the story behind the money in your pockets
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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.