Stefan Edberg made a winning start in Dubai as he beat Wayne Ferreira in straight sets.
Stefan Edberg made a winning start in Dubai as he beat Wayne Ferreira in straight sets.

Edberg volleys his way through



DUBAI // The lost art of serve and volley was brought back to life by the former world No 1 Stefan Edberg, who deployed the outmoded tactic to make a winning start to his Legends Rock Dubai challenge. Rarely does a top-class player rush the net nowadays and it will probably be a long time before any of the current crop of champions does it as frequently in a two-set victory as the Swede did here in disposing of a younger South African rival Wayne Ferreira.

"I have got to rely on what I have done best throughout my career," said Edberg after a 6-3, 6-2 victory which sets up a group decider tonight against his fellow Swede Anders Jarryd. At his peak, Edberg who won six grand slam titles at three different venues, was reputed to be the best exponent of serve and volley the sport had seen. He is well beyond his peak now at the age of 42 but impressed his opponent Ferreira who reflected: "I can only think of Pat Rafter and perhaps Tim Henman who could be compared with Stefan in terms of their serve and volley skills.

"Pete Sampras used the tactic to telling effect, but it more about his tremendous serve than the quality of his volleying." Ferreira was pretty solid himself at the net in his heyday but confessed to being "too lazy" now that he has reached veteran stage. "Unlike Stefan," he added. "He is still a wonderful athlete and it was a pleasure to be on court with him witnessing what he can still do." Edberg said: "It is a shame that there are no top players nowadays who rely on getting to the net quickly to make a winning volley."

Referring in particular to Roger Federer, the five-times Wimbledon champion who is a natural volleyer, he added: "I have said many times that Roger should volley more when he comes up against [Rafael] Nadal in the big matches. "He is not going to beat Rafa from the back of the court, but perhaps he would unsettle him if he mixed his game up a bit more." Meanwhile, Paul Haarhuis began the defence of his Dubai title on Wednesday night with a convincing win against the Spaniard Sergi Bruguera.

The Dutchman, recognised as one of the fittest on the circuit, put continual pressure on his opponents serve and forced a break in each set to win 7-5, 6-4. wjohnson@thenational.ae tbrooks@thenational.ae

UAE currency: the story behind the money in your pockets

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.”

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

Sanju

Produced: Vidhu Vinod Chopra, Rajkumar Hirani

Director: Rajkumar Hirani

Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani

Rating: 3.5 stars

Graduated from the American University of Sharjah

She is the eldest of three brothers and two sisters

Has helped solve 15 cases of electric shocks

Enjoys travelling, reading and horse riding

 

The specs

Engine: 3.5-litre twin-turbo V6

Power: 380hp at 5,800rpm

Torque: 530Nm at 1,300-4,500rpm

Transmission: Eight-speed auto

Price: From Dh299,000 ($81,415)

On sale: Now

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Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

Top Hundred overseas picks

London Spirit: Kieron Pollard, Riley Meredith 

Welsh Fire: Adam Zampa, David Miller, Naseem Shah 

Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott

Northern Superchargers: Dwayne Bravo, Wahab Riaz

Oval Invincibles: Sunil Narine, Rilee Rossouw

Trent Rockets: Colin Munro

Birmingham Phoenix: Matthew Wade, Kane Richardson

Southern Brave: Quinton de Kock

How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

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Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

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%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Co%20Chocolat%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Iman%20and%20Luchie%20Suguitan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Food%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%241%20million-plus%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Fahad%20bin%20Juma%2C%20self-funding%2C%20family%20and%20friends%3C%2Fp%3E%0A