Jorge Lorenzo never looked back after taking the lead on the first lap as he won the Czech Republic Grand Prix in Brno yesterday.
Jorge Lorenzo never looked back after taking the lead on the first lap as he won the Czech Republic Grand Prix in Brno yesterday.

Lorenzo makes it seven



Jorge Lorenzo continued his domination of the MotoGP season yesterday as he raced to his seventh win of the campaign in the Czech Republic Grand Prix. The Spaniard - who in an unusual celebration on his slowing down lap got off his bike and walked on to a neighbouring golf course to take a putt which he needed two to hole - beat compatriot and pole sitter Dani Pedrosa on a Honda while Casey Stoner, Australia's former world champion, was third.

"I couldn't put the ball in the hole but at least I could win the race," Lorenzo, who equalled the record of Michael Doohan and Giacomo Agostino by finishing first or second in the first 10 races of the season, said of his post race golfing exploits. "It was a very difficult day as I had crashed in qualifying so my confidence was not so high. The wind made it difficult for the riders but for me it is a fantastic win," the 23-year-old said.

Pedrosa confessed he had been unable to stick with Lorenzo as he consistently lapped faster times, but he saw a silver lining to the race result despite falling further adrift of his countryman in the points standings . "After crashing in the last race [the American Grand Prix in Laguna Seca] to be back on the podium is a happy moment for me," said the 24-year-old, who is 77 points behind Lorenzo.

Stoner, the 2007 world champion, said that he had not fancied his chances of winning as the Ducati team had employed a new set-up for his bike on the morning of the race. "I had to wait a while to really get a proper rhythm in the race," said the 24-year-old. "I was maybe trying to push too hard but then everyone of the riders is riding so well at the moment it is a constant battle to compete at this level."

Lorenzo took the lead from pole sitter Pedrosa on the first of the 22 laps as five riders battled for the top three in the opening exchanges, while Valentino Rossi, the nine-time champion, made a poor start as he slipped to eighth. Andrea Dovizioso was the first of the front five to crack as the Honda rider came to grief in the middle of the track on the fourth lap and was extremely fortunate not to suffer a serious injury by being hit by one of the oncoming bikes.

The Italian resumed the race, but tailed off in last place and eventually gave up and pulled into his stable. Stoner enjoyed a good tussle with Ben Spies, the American rider on the Tech 3 Yamaha bike in the early laps, but passed him with 11 laps to go to take the final spot on the podium, while Rossi had to be content with a distant fifth in the end. * Agency France-Presse

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
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Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh132,000 (Countryman)
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Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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MATCH INFO

Barcelona 2
Suarez (10'), Messi (52')

Real Madrid 2
Ronaldo (14'), Bale (72')

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

The specs

Engine: 3.9-litre twin-turbo V8

Transmission: seven-speed

Power: 620bhp

Torque: 760Nm

Price: Dh898,000

On sale: now

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

Profile

Name: Carzaty

Founders: Marwan Chaar and Hassan Jaffar

Launched: 2017

Employees: 22

Based: Dubai and Muscat

Sector: Automobile retail

Funding to date: $5.5 million

A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars

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.”

Results

6.30pm: Maiden Dh165,000 (Dirt) 1,200m

Winner: Barack Beach, Richard Mullen (jockey), Satish Seemar (trainer).

7.05pm: Handicap Dh170,000 (D) 1,200m

Winner: Way Of Wisdom, Connor Beasley, Satish Seemar.

7.40pm: Maiden Dh165,000 (D) 1,900m

Winner: Woodditton, Connor Beasley, Ahmad bin Harmash.

8.15pm: Handicap Dh185,000 (D) 2,000m

Winner: Secret Trade, Sandro Paiva, Ali Rashid Al Raihe.

8.50pm: Handicap Dh185,000 (D) 1,600m

Winner: Mark Of Approval, Antonio Fresu, Mahmood Hussain.

9.25pm: Handicap Dh165,000 (D) 2,000m

Winner: Tradesman, Pat Dobbs, Doug Watson.

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