Juan Martin del Potro addresses media at a press conference ahead of his first round match at the Apia Sydney International tournament, where he'll return to tennis after almost a year away with injury. Paul Miller / EPA / January 11, 2015
Juan Martin del Potro addresses media at a press conference ahead of his first round match at the Apia Sydney International tournament, where he'll return to tennis after almost a year away with injurShow more

Tennis bits: ‘It was horrible’ watching grand slam field open up, says returning Juan Martin del Potro



ATP Sydney

Watching tennis on television has been an all too regular way of passing time for Juan Martin del Potro and it does not get any easier for the injury-prone Argentine.

The giant from Tandil is preparing for yet another comeback in Sydney next week at the Apia Sydney International having spent nearly a year on the sidelines with a serious left wrist injury.

It was the right wrist that required surgery in 2010, six months after he won the US Open, and fans of the 26-year-old, and there are many, believe he would have already added to his one grand slam title were it not for injuries.

Olympic bronze medallist Del Potro is just happy to be playing again, even if he is having to grimace through the pain.

“It was horrible to watch all the tournaments on TV and see how open it was in the grand slams,” he said in an interview on the website of the ATP. “It’s good for tennis but it was sad for me because I was ready and prepared.

“All of that is in the past for me now. I am positive now. I know I need to be calm and to be patient, to stay healthy and play as well as I can. It will be a long road to get in good shape and to get to my level.”

Smouldering groundstrokes and a beefy serve are Del Potro’s big weapons and the worry is, with his wrist still causing discomfort, his shots will have lost some of their power.

“(The wrist) hurts a little bit,” he said. “It bothers me sometimes when I hit backhands but I am trying to hit harder because I need to hit harder if I want to play this tournament. Sometimes the pain is high, sometimes it is low.

“It’s much better than (it was) three or four weeks ago and the doctor says that I can’t make it worse by playing at a high level, so I am very positive for that.

“I need to do a lot of treatment every day. I do a long warmup before practice and matches, which takes a lot of time. That is my life at the moment.

“It will be a big challenge to play this tournament and see if I can start the season healthy and play for the whole year.”

Former world No 4 Del Potro’s wrist will get its first test against Ukraine’s Sergiy Stakhovsky.

In opening round action in Sydney on Monday, Pablo Cuevas defeated Nicolas Almagro, Leonardo Mayer beat Benjamin Becker and, later, Marinko Matosevic will face off with Simone Bolleli.

Kooyong Classic

Japan’s Kei Nishikori will hope to use the Kooyong Classic starting Tuesday as final preparation for a run at a possible first grand slam title at the Australian Open.

The Asian ace, who has worked himself up to a record-setting fifth in the world rankings, claimed the Kooyong trophy a year ago over Tomas Berdych.

Nishikori is now a serious threat in every event he enters thanks in large part to a breakthrough 2014 season, sparked by his Kooyong win, in which he reached the US Open final against Marin Cilic.

“Winning might take some time, you need some luck too when you play,” he said in the run-up to Kooyong. “Hopefully it comes and one day I win a grand slam.

“That’s my dream, so hopefully I can do it in a few years.”

Nishikori takes confidence from last week at Brisbane, where he beat American Steve Johnson and Australian Bernard Tomic before falling to eventual finalist Milos Raonic.

The event, whose past champions include Roger Federer, Pete Sampras and Andre Agassi, guarantees players three warm-up matches under identical conditions and surface as they will find at the Australian Open, which begins next week.

ATP Auckland

The Auckland Open began on Monday with Adrian Mannarino defeating Federico Delbonis of Argentina in a 6-1, 6-1 hammering.

World No 44 Mannarino of France advances to meet third-seeed Roberto Bautista-Agut, one of the victims of giant-killing qualifier Aljaz Bedene in Chennai last week. Bedene lost the open in that tournament to Stan Wawrinka on Sunday.

Things will continue in Auckland on Monday with highly-touted world No 39 Dominic Thiem of Austria, 21, facing Jan-Lennard Struff of Germany.

American Steve Johnson also faces Portuguese Joao Sousa.

WTA Hobart

A packed day of Hobart International first round play neared conclusion on Monday, as second-seeded Zarina Diyas cruised while third-seeded Camila Giorgi overcame a stiff challenge.

World No 32 Diyas of Kazakhstan eased by Silvia Soler-Espinosa 6-3, 6-4, while Italian Giorgi, the world No 33, dropped the first set to world No 365 Storm Sanders and needed a tiebreak third set win to 5-7, 6-1, 7-6 (8/6).

Seeds Alison Riske (8) and Roberta Vinci (9) also advanced.

British hopeful Heather Watson continued a strong start to the season as well, comfortably beating world No 48 Magdalena Rybarikova 7-5, 6-1.

WTA Sydney

Spanish rising star Garbine Muguruza defeated world No 14 Sara Errani, who continued a frustrating start to the season at the Apia Sydney International tournament.

World No 20 Muguruza, 21, dominated the Italian 6-0, 7-5. It was the second straight first-round exit in Australian Open warmup tournaments for Errani, after she fell to Daniela Hantuchova in the first round of the Auckland Classic last week.

Muguruza will next faces either Agniezska Radwanska or Alize Cornet in the impressive Sydney tournament that includes a field with world No 3 Simona Halep and Wimbledon winner Petra Kvitova.

In other first-round action of note, world No 21 and local hopeful Sam Stosur edged out world No 15 Lucie Safarova in a tight 7-6 (7/3), 5-7, 6-3 victory. Caroline Wozniacki also retired from her match against Barbora Zahlavova Strycova after losing the first set 4-6.

Other winners in Sydney on Monday included world No 10 Ekaterina Makarova, world No 17 Carla Suarez Navarro, Australian Open finalist Dominika Cibulkova and Chinese No 1 Peng Shuai.

World No 12 Flavia Pennetta was upset by Tsvetana Pironkova 3-6, 6-7 (4/7), as she continues a rough start to her season with compatriot Errani after losing all three of her singles matches at the Hopman Cup last week.

World No 13 Andrea Petkovic also fell, 1-6 , 6-7 (5/7) against world No 70 Jarmila Gajdosova.

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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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Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

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