• Serena Williams during a training session at the All England Lawn Tennis and Croquet Club ahead of Wimbledon on June 25, 2022. Getty
    Serena Williams during a training session at the All England Lawn Tennis and Croquet Club ahead of Wimbledon on June 25, 2022. Getty
  • Serena Williams is all smiles ahead of Wimbledon. Reuters
    Serena Williams is all smiles ahead of Wimbledon. Reuters
  • United States' Serena Williams during training session ahead of Wimbledon. Getty
    United States' Serena Williams during training session ahead of Wimbledon. Getty
  • Serena Williams, a 23-time Grand Slam champion, during practice ahead of Wimbledon. Getty
    Serena Williams, a 23-time Grand Slam champion, during practice ahead of Wimbledon. Getty
  • Serena Williams heads to the practice courts ahead of Wimbledon. PA
    Serena Williams heads to the practice courts ahead of Wimbledon. PA
  • British hope Emma Raducanu during a practice session ahead of Wimbledon on Saturday, June 25, 2022. PA
    British hope Emma Raducanu during a practice session ahead of Wimbledon on Saturday, June 25, 2022. PA
  • Emma Raducanu serves during training. Getty
    Emma Raducanu serves during training. Getty
  • Emma Raducanu heads back to the locker rooms after training. Getty
    Emma Raducanu heads back to the locker rooms after training. Getty
  • Emma Raducanu serves during training. Getty
    Emma Raducanu serves during training. Getty
  • Emma Raducanu during her practice session ahead of Wimbledon. PA
    Emma Raducanu during her practice session ahead of Wimbledon. PA
  • Current World Number One Iga Swiatek during a practice session on Friday, June 24. Getty
    Current World Number One Iga Swiatek during a practice session on Friday, June 24. Getty
  • Iga Swiatek of Poland during a practice session ahead of Wimbledon. Getty
    Iga Swiatek of Poland during a practice session ahead of Wimbledon. Getty
  • Iga Swiatek during training ahead of Wimbledon. Getty
    Iga Swiatek during training ahead of Wimbledon. Getty
  • Iga Swiatek trains on Centre Court. Getty
    Iga Swiatek trains on Centre Court. Getty
  • Iga Swiatek plays a forehand during training. Getty
    Iga Swiatek plays a forehand during training. Getty

Serena Williams: 'I didn't retire, I just didn't know how I would come back'


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Serena Williams said thoughts of retirement had not been on her agenda during her year-long absence.

The American, 40, returns to singles action at Wimbledon next week for the first time since her tearful exit from the All England Club in the first round in 2021.

The seven-time Wimbledon champion is chasing a record-equalling 24th Grand Slam title.

"I didn't retire. I just needed to heal physically, mentally. I had no plans. I just didn't know when I would come back. I didn't know how I would come back," Williams said.

Williams, who spent a joint-record 186 weeks as world No 1, has seen her world ranking plummet to 1,204th and she needed a wildcard to play Wimbledon this year.

Her last appearance at the All England Club ended after just six games when she was forced to quit her Centre Court opener against Aliaksandra Sasnovich.

Having made her debut in 1998, Williams said that she didn't want that heartbreaking exit to be her last memory of Wimbledon.

"It was a lot of motivation, to be honest. It was always something since the match ended that was always on my mind.

"Wimbledon was tough last year. I felt like I was injured for most of the year. Then I ripped my hamstring."

Serena Williams and Ons Jabeur in doubles action - in pictures

  • USA's Serena Williams and Ons Jabeur of Tunisia celebrate their victory over Marie Bouzkova of Czech Republic and Sara Sorribes Tormo of Spain in the women's doubles match at Eastbourne on Tuesday, June 21, 2022. Getty
    USA's Serena Williams and Ons Jabeur of Tunisia celebrate their victory over Marie Bouzkova of Czech Republic and Sara Sorribes Tormo of Spain in the women's doubles match at Eastbourne on Tuesday, June 21, 2022. Getty
  • Serena Williams made a winning comeback after her injury last year. Getty
    Serena Williams made a winning comeback after her injury last year. Getty
  • Serena Williams embraces Ons Jabeur of Tunisia after her doubles win in Eastbourne. Getty
    Serena Williams embraces Ons Jabeur of Tunisia after her doubles win in Eastbourne. Getty
  • Serena Williams during her round of 16 doubles match with Tunisia's Ons Jabeur against Spain's Sara Sorribes Tormo and Czech Republic's Marie Bouzkova. Reuters
    Serena Williams during her round of 16 doubles match with Tunisia's Ons Jabeur against Spain's Sara Sorribes Tormo and Czech Republic's Marie Bouzkova. Reuters
  • Ons Jabeur during her round of 16 doubles match with Serena Williams at Devonshire Park, Eastbourne. PA
    Ons Jabeur during her round of 16 doubles match with Serena Williams at Devonshire Park, Eastbourne. PA
  • Serena Williams celebrates winning a point in her round of 16 doubles match with Ons Jabeur. PA
    Serena Williams celebrates winning a point in her round of 16 doubles match with Ons Jabeur. PA
  • Serena Williams made a winning comeback at Eastbourne. PA
    Serena Williams made a winning comeback at Eastbourne. PA
  • Serena Williams at Devonshire Park, Eastbourne. PA
    Serena Williams at Devonshire Park, Eastbourne. PA
  • Ons Jabeur reacts in her round of 16 doubles match with Serena Williams. PA
    Ons Jabeur reacts in her round of 16 doubles match with Serena Williams. PA
  • Serena Williams shakes hands with Marie Bouzkova. PA
    Serena Williams shakes hands with Marie Bouzkova. PA
  • Serena Williams during her women's doubles match at Eastbourne. AFP
    Serena Williams during her women's doubles match at Eastbourne. AFP

In a change to tradition, and with a nod to the gravity of Williams' injury last year which was caused by her slipping and falling, organisers have allowed practice sessions on Centre Court.

The aim is to bed in the grass so that players can enjoy immediate grip on the world's most famous patch of grass.

"On the one hand it's amazing, but on the other hand it's like, we have to preserve Centre Court," said Williams.

"Obviously I was super happy to be out there and have that opportunity, and it was also good for me to get that out of my system because the last moment I had on Centre Court was probably not my best moment."

Williams was coy on her long-term future in the sport and whether or not this is her last Wimbledon.

"I can only tell you that I'm here. Who knows where I'll pop up next," said the American who turns 41 in September.

Serena Williams' style evolution - in pictures

  • Venus and Serena Williams, wearing a green T-shirt, with former president Ronald Reagan at a tennis camp in Florida in 1990. AFP
    Venus and Serena Williams, wearing a green T-shirt, with former president Ronald Reagan at a tennis camp in Florida in 1990. AFP
  • Serena Williams, in black shorts and a green check swimsuit, in Key Biscayne, Florida in March 1998. Getty Images
    Serena Williams, in black shorts and a green check swimsuit, in Key Biscayne, Florida in March 1998. Getty Images
  • Serena Williams, wearing a grey coat, during the Chase Championships in New York City, New York on November 16, 1998. Allsport
    Serena Williams, wearing a grey coat, during the Chase Championships in New York City, New York on November 16, 1998. Allsport
  • Serena Williams, in a silver dress, and Venus Williams arrive to attend the Laureus World Sports Awards in Monte Carlo, Monaco on May 25, 2000. Reuters
    Serena Williams, in a silver dress, and Venus Williams arrive to attend the Laureus World Sports Awards in Monte Carlo, Monaco on May 25, 2000. Reuters
  • Serena Williams, in a pink dress of her own design, attends the 2003 ESPY Awards at the Kodak Theatre July 16, 2003 in Hollywood, California. AFP
    Serena Williams, in a pink dress of her own design, attends the 2003 ESPY Awards at the Kodak Theatre July 16, 2003 in Hollywood, California. AFP
  • Venus Williams and Serena Williams, in a black dress, attend the 2003 MTV Video Music Awards at Radio City Music Hall on August 28, 2003 in New York City. AFP
    Venus Williams and Serena Williams, in a black dress, attend the 2003 MTV Video Music Awards at Radio City Music Hall on August 28, 2003 in New York City. AFP
  • Serena Williams, in a purple satin gown, attends the 2004 Met Gala in New York City on April 26, 2004. AFP
    Serena Williams, in a purple satin gown, attends the 2004 Met Gala in New York City on April 26, 2004. AFP
  • Serena Williams, in an orange mini dress, attends the 12th Annual ESPY Awards held at the Kodak Theatre on July 14, 2004 in Hollywood, California. AFP
    Serena Williams, in an orange mini dress, attends the 12th Annual ESPY Awards held at the Kodak Theatre on July 14, 2004 in Hollywood, California. AFP
  • Serena Williams, in a pink patterned dress, attends the 'Catwoman' premiere at the ArcLight Theatre on July 19, 2004 in Hollywood, California. AFP
    Serena Williams, in a pink patterned dress, attends the 'Catwoman' premiere at the ArcLight Theatre on July 19, 2004 in Hollywood, California. AFP
  • Serena Williams, in a white dress with floral detail, attends the Coty 100th Anniversary Party at the American Museum of Natural History on September 12, 2004, in New York City. AFP
    Serena Williams, in a white dress with floral detail, attends the Coty 100th Anniversary Party at the American Museum of Natural History on September 12, 2004, in New York City. AFP
  • Serena Williams, in a blush pink dress, attends the 'After The Sunset' premiere at Grauman's Chinese Theatre on November 4, 2004 in Hollywood, California. AFP
    Serena Williams, in a blush pink dress, attends the 'After The Sunset' premiere at Grauman's Chinese Theatre on November 4, 2004 in Hollywood, California. AFP
  • Serena Williams, in a pink halterneck dress, attends a preview gala dinner for the Metropolitan Museum's Wild: Fashion Untamed exhibition at the Metropolitan Museum of Art on December 6, 2004, in New York City. AFP
    Serena Williams, in a pink halterneck dress, attends a preview gala dinner for the Metropolitan Museum's Wild: Fashion Untamed exhibition at the Metropolitan Museum of Art on December 6, 2004, in New York City. AFP
  • Serena Williams, in a white floral prom dress, attends the White House Correspondents dinner at the Washington Hilton Hotel on April 30, 2005, in Washington, DC. AFP
    Serena Williams, in a white floral prom dress, attends the White House Correspondents dinner at the Washington Hilton Hotel on April 30, 2005, in Washington, DC. AFP
  • Serena Williams, in a yellow blouse, arrives at the 'Sky High' premiere at the El Capitan Theatre on July 24, 2005 in Hollywood, California. AFP
    Serena Williams, in a yellow blouse, arrives at the 'Sky High' premiere at the El Capitan Theatre on July 24, 2005 in Hollywood, California. AFP
  • Serena Williams, in a belted white shirt, attends the 'ATL' premiere at Grauman's Chinese Theatre on March 30, 2006 in Hollywood, California. AFP
    Serena Williams, in a belted white shirt, attends the 'ATL' premiere at Grauman's Chinese Theatre on March 30, 2006 in Hollywood, California. AFP
  • Serena Williams, in a taupe blouse, attends the Sony Ericsson players party at Opium nightclub March 26, 2008 in Miami Beach, Florida. AFP
    Serena Williams, in a taupe blouse, attends the Sony Ericsson players party at Opium nightclub March 26, 2008 in Miami Beach, Florida. AFP
  • Serena Williams, in white Calvin Klein, attends the label's spring/summer 2009 show during Mercedes-Benz Fashion Week on September 11, 2008 in New York City. AFP
    Serena Williams, in white Calvin Klein, attends the label's spring/summer 2009 show during Mercedes-Benz Fashion Week on September 11, 2008 in New York City. AFP
  • Serena Williams, in a leopard print dress, arrives at the players kick-off party at Liv club, Miami on March 25, 2009. AFP
    Serena Williams, in a leopard print dress, arrives at the players kick-off party at Liv club, Miami on March 25, 2009. AFP
  • Serena Williams, in a teal Roberto Cavalli gown, arrives at the 2009 ESPY Awards held at Nokia Theatre LA Live on July 15, 2009 in Los Angeles, California. AFP
    Serena Williams, in a teal Roberto Cavalli gown, arrives at the 2009 ESPY Awards held at Nokia Theatre LA Live on July 15, 2009 in Los Angeles, California. AFP
  • Serena Williams, in a red one-shouldered gown, attends the Glamour Magazine 2009 Women of The Year event at Carnegie Hall on November 9, 2009 in New York City. AFP
    Serena Williams, in a red one-shouldered gown, attends the Glamour Magazine 2009 Women of The Year event at Carnegie Hall on November 9, 2009 in New York City. AFP
  • Serena Williams, in a black dress, attends the 18th Annual Elton John Aids Foundation Academy Award Party at Pacific Design Centre on March 7, 2010 in West Hollywood, California. AFP
    Serena Williams, in a black dress, attends the 18th Annual Elton John Aids Foundation Academy Award Party at Pacific Design Centre on March 7, 2010 in West Hollywood, California. AFP
  • Serena Williams, in a nude Burberry dress, arrives at the Burberry Body event on October 26, 2011 in Beverly Hills, California. AFP
    Serena Williams, in a nude Burberry dress, arrives at the Burberry Body event on October 26, 2011 in Beverly Hills, California. AFP
  • Serena Williams, in a pink belted dress, arrives at Nickelodeon's 2011 TeenNick Halo Awards held at the Hollywood Palladium on October 26, 2011 in Hollywood, California. AFP
    Serena Williams, in a pink belted dress, arrives at Nickelodeon's 2011 TeenNick Halo Awards held at the Hollywood Palladium on October 26, 2011 in Hollywood, California. AFP
  • Serena Williams, in a blue and black dress, attends 'Think Like A Man' premiere in Hollywood, California on February 9, 2012. AFP
    Serena Williams, in a blue and black dress, attends 'Think Like A Man' premiere in Hollywood, California on February 9, 2012. AFP
  • Serena Williams, in red trousers with a white top and black cardigan, attends the 13th Annual BNP Paribas Taste of Tennis benefit at the W New York Hotel on August 23, 2012 in New York City. AFP
    Serena Williams, in red trousers with a white top and black cardigan, attends the 13th Annual BNP Paribas Taste of Tennis benefit at the W New York Hotel on August 23, 2012 in New York City. AFP
  • Serena Williams, in a blue dress, attends the 14th Annual BNP Paribas Taste Of Tennis at W New York Hotel on August 22, 2013 in New York City. AFP
    Serena Williams, in a blue dress, attends the 14th Annual BNP Paribas Taste Of Tennis at W New York Hotel on August 22, 2013 in New York City. AFP
  • Serena Williams, in a navy blue gown, attends the 11th annual CFDA Vogue Fashion Fund Awards at Spring Studios on November 3, 2014 in New York City. AFP
    Serena Williams, in a navy blue gown, attends the 11th annual CFDA Vogue Fashion Fund Awards at Spring Studios on November 3, 2014 in New York City. AFP
  • Serena Williams, in a red Ines Di Santo gown, arrives for the Vanity Fair Oscar After-Party following the 87th annual Academy Awards ceremony in Hollywood, California on February 22, 2015. EPA
    Serena Williams, in a red Ines Di Santo gown, arrives for the Vanity Fair Oscar After-Party following the 87th annual Academy Awards ceremony in Hollywood, California on February 22, 2015. EPA
  • Serena Williams, in off-white Galia Lahav, arrives for the Vanity Fair Oscars After-Party following the 88th annual Academy Awards ceremony in Hollywood, California on February 28, 2016. EPA
    Serena Williams, in off-white Galia Lahav, arrives for the Vanity Fair Oscars After-Party following the 88th annual Academy Awards ceremony in Hollywood, California on February 28, 2016. EPA
  • Serena Williams, in a metallic LaQuan Smith gown, attends the premiere of 'Serena' on June 13, 2016 in New York City. AFP
    Serena Williams, in a metallic LaQuan Smith gown, attends the premiere of 'Serena' on June 13, 2016 in New York City. AFP
  • Serena Williams, in a white two-piece with a pink bralette, attends the Berlei Sports Bras Launch At Macy's With Serena Williams on August 25, 2016 in New York City. AFP
    Serena Williams, in a white two-piece with a pink bralette, attends the Berlei Sports Bras Launch At Macy's With Serena Williams on August 25, 2016 in New York City. AFP
  • Serena Williams, in a sheer floral gown, attends the Serena Williams Signature Statement Collection By HSN on September 12, 2016, in New York City. AFP
    Serena Williams, in a sheer floral gown, attends the Serena Williams Signature Statement Collection By HSN on September 12, 2016, in New York City. AFP
  • Serena Williams, in a black dress, attends the Charity Gala Dinner for the Novak Djokovic Foundation on September 20, 2016 in Milan. AFP
    Serena Williams, in a black dress, attends the Charity Gala Dinner for the Novak Djokovic Foundation on September 20, 2016 in Milan. AFP
  • Serena Williams, in a white jacket with a feathered skirt, attends an Audemars Piguet event on November 29, 2016 in Miami Beach, Florida. AFP
    Serena Williams, in a white jacket with a feathered skirt, attends an Audemars Piguet event on November 29, 2016 in Miami Beach, Florida. AFP
  • Serena Williams, in an emerald green Versace gown, attends the 2017 Met Gala at the Metropolitan Museum of Art on May 1, 2017 in New York City. AFP
    Serena Williams, in an emerald green Versace gown, attends the 2017 Met Gala at the Metropolitan Museum of Art on May 1, 2017 in New York City. AFP
  • Serena Williams, in a navy lace dress, attends the launch of the Burberry DK88 Bag hosted by Christopher Bailey at Burberry Soho on May 2, 2017 in New York City. AFP
    Serena Williams, in a navy lace dress, attends the launch of the Burberry DK88 Bag hosted by Christopher Bailey at Burberry Soho on May 2, 2017 in New York City. AFP
  • Serena Williams, in a black and gold dress, attends 'Glamour' magazine's 2017 Women of The Year Awards at Kings Theatre on November 13, 2017 in Brooklyn, New York. AFP
    Serena Williams, in a black and gold dress, attends 'Glamour' magazine's 2017 Women of The Year Awards at Kings Theatre on November 13, 2017 in Brooklyn, New York. AFP
  • Serena Williams, in a white Tom Ford dress with sequinned sleeves, attends the premiere of 'Being Serena' at Time Warner Centre on April 25, 2018 in New York City. AFP
    Serena Williams, in a white Tom Ford dress with sequinned sleeves, attends the premiere of 'Being Serena' at Time Warner Centre on April 25, 2018 in New York City. AFP
  • Serena Williams, in a dusky pink Versace dress, and Alexis Ohanian arrive for the royal wedding ceremony of Britain's Prince Harry and Meghan Markle at St George's Chapel in Windsor Castle, in Windsor on May 19, 2018. EPA
    Serena Williams, in a dusky pink Versace dress, and Alexis Ohanian arrive for the royal wedding ceremony of Britain's Prince Harry and Meghan Markle at St George's Chapel in Windsor Castle, in Windsor on May 19, 2018. EPA
  • Serena Williams, in a leopard-print dress, attends the 5th Annual Imagine Ball Honouring Serena Williams at The Peppermint Club on September 23, 2018 in Los Angeles, California. AFP
    Serena Williams, in a leopard-print dress, attends the 5th Annual Imagine Ball Honouring Serena Williams at The Peppermint Club on September 23, 2018 in Los Angeles, California. AFP
  • Serena Williams, in a metallic Vera Wang dress, attends the 2018 Brand Genius Awards at Cipriani 25 Broadway on November 7, 2018 in New York City. AFP
    Serena Williams, in a metallic Vera Wang dress, attends the 2018 Brand Genius Awards at Cipriani 25 Broadway on November 7, 2018 in New York City. AFP
  • Serena Williams, in jeans and a denim jacket, attends the Teen Vogue Summit at 72andSunny on December 1, 2018 in Los Angeles, California. AFP
    Serena Williams, in jeans and a denim jacket, attends the Teen Vogue Summit at 72andSunny on December 1, 2018 in Los Angeles, California. AFP
  • Serena Williams, in a black and red Armani Prive gown, attends the 91st Annual Academy Awards at Hollywood and Highland on February 24, 2019 in Hollywood, California. AFP
    Serena Williams, in a black and red Armani Prive gown, attends the 91st Annual Academy Awards at Hollywood and Highland on February 24, 2019 in Hollywood, California. AFP
  • Serena Williams, in a blue and black Giambattista Valli gown, attends the 2019 Vanity Fair Oscar Party in Beverly Hills on February 24, 2019. AFP
    Serena Williams, in a blue and black Giambattista Valli gown, attends the 2019 Vanity Fair Oscar Party in Beverly Hills on February 24, 2019. AFP
  • Serena Williams, in a yellow floral Versace gown, attends the 2019 Met Gala at the Metropolitan Museum of Art on May 6, 2019 in New York City. AFP
    Serena Williams, in a yellow floral Versace gown, attends the 2019 Met Gala at the Metropolitan Museum of Art on May 6, 2019 in New York City. AFP
  • Serena Williams, in a white top and fawn skirt, attends the Sports Illustrated Fashionable 50 at The Sunset Room on July 18, 2019 in Los Angeles, California. AFP
    Serena Williams, in a white top and fawn skirt, attends the Sports Illustrated Fashionable 50 at The Sunset Room on July 18, 2019 in Los Angeles, California. AFP
  • Serena Williams, in a white slip dress, attends the Game Changers New York premiere at Regal Battery Park 11 on September 9, 2019 in New York City. AFP
    Serena Williams, in a white slip dress, attends the Game Changers New York premiere at Regal Battery Park 11 on September 9, 2019 in New York City. AFP
  • Serena Williams, in an orange dress with a Burberry shawl, attends a charity event at Harriet's Rooftop in West Hollywood on October 3, 2019. AFP
    Serena Williams, in an orange dress with a Burberry shawl, attends a charity event at Harriet's Rooftop in West Hollywood on October 3, 2019. AFP
  • Serena Williams, in a silver one-piece and feathered cape by Gucci, attends the 2021 Met Gala at the Metropolitan Museum of Art in New York City on September 13, 2021. AFP
    Serena Williams, in a silver one-piece and feathered cape by Gucci, attends the 2021 Met Gala at the Metropolitan Museum of Art in New York City on September 13, 2021. AFP
  • Serena Williams, wearing black Gucci, attends the 10th Annual Lacma Art and Film Gala at Los Angeles County Museum of Art on November 06, 2021. AFP
    Serena Williams, wearing black Gucci, attends the 10th Annual Lacma Art and Film Gala at Los Angeles County Museum of Art on November 06, 2021. AFP
  • Serena Williams, in black sportswear, attends Cloud9 Champion's Day on November 9, 2021 in Los Angeles, California. AFP
    Serena Williams, in black sportswear, attends Cloud9 Champion's Day on November 9, 2021 in Los Angeles, California. AFP
  • Serena Williams, in a black embellished David Koma leotard, attends the premiere of 'King Richard' at TCL Chinese Theatre on November 14, 2021 in Hollywood, California. AFP
    Serena Williams, in a black embellished David Koma leotard, attends the premiere of 'King Richard' at TCL Chinese Theatre on November 14, 2021 in Hollywood, California. AFP
PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

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%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Christopher%20McQuarrie%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tom%20Cruise%2C%20Hayley%20Atwell%2C%20Pom%20Klementieff%2C%20Simon%20Pegg%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
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RESULT

Arsenal 2

Sokratis Papastathopoulos 45 4'

Eddie Ntkeiah 51'

Portsmouth 0

 

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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Company%20Profile
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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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.”

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INDIA SQUAD

Rohit Sharma (captain), Shikhar Dhawan (vice-captain), KL Rahul, Suresh Raina, Manish Pandey, Dinesh Karthik (wicketkeeper), Deepak Hooda, Washington Sundar, Yuzvendra Chahal, Axar Patel, Vijay Shankar, Shardul Thakur, Jaydev Unadkat, Mohammad Siraj and Rishabh Pant (wicketkeeper)

The Lost Letters of William Woolf
Helen Cullen, Graydon House 

MATCH INFO

Champions League quarter-final, first leg

Ajax v Juventus, Wednesday, 11pm (UAE)

Match on BeIN Sports

The specs

Engine: 2.3-litre, turbo four-cylinder

Transmission: 10-speed auto

Power: 300hp

Torque: 420Nm

Price: Dh189,900

On sale: now

Updated: June 26, 2022, 6:00 AM