Caroline Wozniacki lost to Francesca Schiavone in straight sets yesterday.
Caroline Wozniacki lost to Francesca Schiavone in straight sets yesterday.

Wozniacki's Paris adventure is over



PARIS // Francesca Schiavone became the first Italian woman to reach the semi-finals of the French Open since 1954 by beating Caroline Wozniacki, the No 3 seed, in straight sets yesterday. The 29-year-old Schiavone collapsed facedown on centre court and kissed the clay after sealing a 6-2, 6-3 win in her third major quarter-final appearance.

She had not reached the last eight at Roland Garros since 2001. This time she made the most of her chance and became the first Italian woman to make it into the semi-finals at any grand slam tournament in the Open era, which began in 1968. "It's an honour for me to play here," said Schiavone, who broke serve six times, won 13 of 16 points when she reached the net and enjoyed a 25-10 edge in winners. "I played really well. I'm enjoying it so much."

The 17th seed won with steady, sometimes loopy ground strokes, limiting errors while mixing the pace to keep Wozniacki off-balance. Rallies sometimes became moonball exchanges reminiscent of the wooden-racket era. Schiavone played serve and volley to win the penultimate point and then slammed an overhead winner to clinch victory. Her opponent tomorrow will be Elena Dementieva, the No 5 seed, who defeated Nadia Petrova 2-6, 6-2, 6-0 yesterday.

Dementieva pulled away from her opponent by hitting 11 winners in a final set in which Petrova won only 12 points. Petrova appeared hampered at times by a sore left thigh, which she had rewrapped midway through the first set. Dementieva also received treatment during the 17-minute break, when a trainer taped her right thigh. It is Dementieva's best showing at Roland Garros since 2004, when she was runner-up.

Rafael Nadal plans to knock Nicolas Almagro out of his comfort zone when they meet in the quarter-finals today. Nadal, the four-time champion, beat Thomaz Bellucci in round four to set up a rematch of his 2008 clash with Almagro, his fellow Spaniard. That day witnessed the most one-sided men's quarter-final of the Open era at Roland Garros, Nadal romping to a 6-1, 6-1, 6-1 victory. But his compatriot has taken a set off the world No 2 in each of their last two meetings, including at the Madrid Masters earlier this month, while he was an impressive 6-1, 4-6, 6-1, 6-4 victor over Fernando Verdasco on Monday.

Nadal, who turns 24 tomorrow, said: "It's going to be very difficult, because the way he plays is really excellent. He's managed to maintain the same level here in the tournament. It's going to be complicated, he's going to be very aggressive. "I'll do my best so that he feels a bit uncomfortable." Almagro insists he is better prepared to tackle Nadal than two years ago, despite his opponent having won all of his 19 clay court matches this season.

"As compared to 2008, my physical shape has improved a lot," Almagro said. "From a mental standpoint, I am also much stronger now." The winner will play whoever comes out on top in the last-eight clash between Novak Djokovic and Jurgen Melzer. * AP

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Number of employees: 4
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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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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

England's all-time record goalscorers:
Wayne Rooney 53
Bobby Charlton 49
Gary Lineker 48
Jimmy Greaves 44
Michael Owen 40
Tom Finney 30
Nat Lofthouse 30
Alan Shearer 30
Viv Woodward 29
Frank Lampard 29