Vera Zvonareva was slow off the mark against Tsvetana Pironkova yesterday, but got going in the second set and never looked like succumbing to her surprise semi-final opponent.
Vera Zvonareva was slow off the mark against Tsvetana Pironkova yesterday, but got going in the second set and never looked like succumbing to her surprise semi-final opponent.

Zvonareva sets sights on Serena in tussle for title



LONDON // Tsvetana Pironkova was unable yesterday to capitalise on the magnificent job she carried out in stunning Venus Williams in the quarter-finals. In the end she could do little to prevent the more experienced Vera Zvonareva from reaching her first grand slam final. Zvonareva, who held an elitist position among the world's leading five players barely a year ago but has since slipped alarmingly out of the top 20 after a series of injuries, will now be hoping to continue her resurgence by upsetting Serena Williams, the defending champion, in tomorrow's final.

Guaranteed a return to the top 10 after her battling 3-6, 6-3, 6-2 victory, Zvonareva, promised that she will not be overawed against Serena, despite losing five of their six previous engagements. "It's going to be tough, for sure," she said. "But I always believe in myself and we'll just have to wait and see what happens. I will have to stay aggressive against her and not let her dominate because when Serena dominates she is very difficult to play against.

As in her more surprising quarter-final win over Kim Clijsters, Zvonareva was slow off the mark against Pironkova, but once she got going in the second set she never looked like succumbing to one of the brightest new prospects in her sport. The turning point was a break of the Pironkova serve in the sixth game of the second set and Zvonareva never looked back after that as she controlled the deciding set, breaking twice more to ease her way across the finishing line.

Pironkova, 22, who was disappointed to miss the chance to make history by becoming the first unseeded player to reach the Wimbledon final, maintained that she would benefit enormously from her Centre Court debut. "It has been a huge experience for me," she said. "It was a dream to get to the semi-finals and I will learn a lot from it. "I will know next time that I have to try to be a bit more relaxed, yet still fight hard for every point."

She will console herself with becoming the first Bulgarian woman to reach a grand slam semi-final and the fact that she did so by eliminating one of Wimbledon's greatest champions in five-time winner Venus. "It has been top news back home," she said. "I am very pleased that I have made my people so happy. "This is a great success for tennis in my country. Zvonareva will relax in front of the television before the biggest day of her career tomorrow.

She revealed that he had formed a kindred spirit with Robin van Persie, the Holland striker, while they were both in rehabilitation from ankle surgery at an Amsterdam clinic. She will watch him and his Dutch teammates try to overcome Brazil in this afternoon's World Cup quarter-final. "It was a pleasure to have a fellow international athlete working alongside you trying to get fit," she said. "We exchange good luck messages. He sent me 'Congratulations' and I wish him the best at the World Cup." wjohnson@thenational.ae

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Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

PFA Premier League team of 2018-19

Allison (Liverpool)

Trent Alexander-Arnold (Liverpool)

Virgil van Dijk (Liverpool)

Aymeric Laporte (Manchester City)

Andrew Robertson (Liverpool)

Paul Pogba (Manchester United)

Fernandinho (Manchester City)

Bernardo Silva (Manchester City)

Raheem Sterling (Manchester City)

Sergio Aguero (Manchester City)

Sadio Mane (Liverpool)

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From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Profile of VoucherSkout

Date of launch: November 2016

Founder: David Tobias

Based: Jumeirah Lake Towers

Sector: Technology

Size: 18 employees

Stage: Embarking on a Series A round to raise $5 million in the first quarter of 2019 with a 20 per cent stake

Investors: Seed round was self-funded with “millions of dollars” 

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.

UAE currency: the story behind the money in your pockets
COMPANY PROFILE
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

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.”

Business Insights
  • Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
  • The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
  • US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
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.
What is a Ponzi scheme?

A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

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The Buckingham Murders

Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

Rating: 4 / 5

The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 


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