ABU DHABI // A sold-out crowd at Sunday’s Formula One Abu Dhabi Grand Prix watched German Nico Rosberg win his third consecutive race of the year, capping off the 2015 season.
The race followed days of festivities, for F1 fans and residents, which included events scattered across the capital and featured a blockbuster entertainment programme.
“It’s exhilarating,” said Muhaimin Fadzail, 16, from Dubai, as the race got under way.
“It’s a once-a-year event for Abu Dhabi. I came here for the atmosphere, the sounds, the vibrations.”
Despite the race’s limited importance in terms of competition – British racer Lewis Hamilton, Rosberg’s Mercedes-GP teammate had already claimed the F1 championship on points at the United States Grand Prix last month – spectators still came out expecting to see a battle for the chequered flag.
With Rosberg starting the race from the pole position, Hamilton – the clear fans’ favourite – was cheered on by the masses in the grandstands, which were dominated with the flags of England and the Union Flag.
“We already know who’s won the championship, but we want to see them fight each other,” said Abu Dhabi resident Riduan Aziz, 32, as he snapped photos of the cars tearing down the straight on the 5.5-kilometre Yas Marina Circuit with the sun setting in background.
“I’m cheering for Hamilton. Even though he’s already won, it’s exciting,” said Ibraheem Mustafa, 14, from Dubai. “It’s all about the competition between him and Rosberg.”
Dubai resident Delicia Murugan, 26, a self-described long-time fan of Hamilton, said she was in town for the entire weekend and was hoping the two-time Abu Dhabi Grand Prix champion and last year’s winner would not disappoint.
“I was here four years ago when he won,” she said. “It’s fun to be here. It sounds like a jet engine.”
In the end, Hamilton was unable to overtake Rosberg, who won with a comfortable 8.2-second gap and ahead of Finn Kimi Raikkonen, who took third place.
An annual event since 2009, the Abu Dhabi Grand Prix has steadily been increasing in popularity since its inception.
Organisers said the event this year was a sellout, with 60,000 spectators expected to have been at the circuit.
Travelling from London, F1 fans Anne and James Hassall took in the race while visiting the UAE for a holiday.
“It’s fantastic, it’s modern, it’s glamorous,” said Ms Hassall, describing the racetrack at Yas Island, which she said was the best they had seen.
Abu Dhabi residents Ali Al Thumari, 27, and Mohamed Ali, 30, said the annual event was a great boost to the capital.
“It’s good to see a lot of people here from all kinds of different countries,” said Mr Al Thumari, who has yet to miss an F1 race at Yas.
“This even is making Abu Dhabi famous,” Mr Ali said.
After the race, fans took in a performance by leading Britpop act Blur.
The concert brought the weekend’s packed entertainment schedule to a close after performances by UK band Florence and the Machine and Spanish pop star Enrique Iglesias.
esamoglou@thenational.ae
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Results
2pm Handicap (PA) Dh85,000 1,800m
Winner AF Al Baher, Tadhg O’Shea (jockey), Ernst Oertel (trainer).
2.30pm Maiden (TB) Dh75,000 1,400m
Winner Alla Mahlak, Fabrice Veron, Rashed Bouresly.
3pm Handicap (TB) Dh80,000 1,400m
Winner Davy Lamp, Adrie de Vries, Rashed Bouresly.
3.30pm Handicap (TB) Dh105,000 1,400m
Winner Ode To Autumn, Richard Mullen, Satish Seemar.
4pm Handicap (TB) Dh80,000 1,950m
Winner Arch Gold, Pat Dobbs, Doug Watson.
4.30pm Maiden (TB) Dh75,000 1,800m
Winner Meqdam, Pat Dobbs, Doug Watson.
5pm Handicap (TB) Dh90,000 1,800m
Winner Native Appeal, Sam Hitchcott, Doug Watson.
5.30pm Maiden (TB) Dh75,000 1,400m
Winner Amani Pico, Tadhg O’Shea, Satish Seemar
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Killing of Qassem Suleimani
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
Indian origin executives leading top technology firms
Sundar Pichai
Chief executive, Google and Alphabet
Satya Nadella
Chief executive, Microsoft
Ajaypal Singh Banga
President and chief executive, Mastercard
Shantanu Narayen
Chief executive, chairman, and president, Adobe
Indra Nooyi
Board of directors, Amazon and former chief executive, PepsiCo
Points about the fast fashion industry Celine Hajjar wants everyone to know
- Fast fashion is responsible for up to 10 per cent of global carbon emissions
- Fast fashion is responsible for 24 per cent of the world's insecticides
- Synthetic fibres that make up the average garment can take hundreds of years to biodegrade
- Fast fashion labour workers make 80 per cent less than the required salary to live
- 27 million fast fashion workers worldwide suffer from work-related illnesses and diseases
- Hundreds of thousands of fast fashion labourers work without rights or protection and 80 per cent of them are women
PROFILE OF CURE.FIT
Started: July 2016
Founders: Mukesh Bansal and Ankit Nagori
Based: Bangalore, India
Sector: Health & wellness
Size: 500 employees
Investment: $250 million
Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)
Top goalscorers in Europe
34 goals - Robert Lewandowski (68 points)
34 - Ciro Immobile (68)
31 - Cristiano Ronaldo (62)
28 - Timo Werner (56)
25 - Lionel Messi (50)
*29 - Erling Haaland (50)
23 - Romelu Lukaku (46)
23 - Jamie Vardy (46)
*NOTE: Haaland's goals for Salzburg count for 1.5 points per goal. Goals for Dortmund count for two points per goal.
'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
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What is a black hole?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Oppenheimer
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
BLACK%20ADAM
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One-off T20 International: UAE v Australia
When: Monday, October 22, 2pm start
Where: Abu Dhabi Cricket, Oval 1
Tickets: Admission is free
Australia squad: Aaron Finch (captain), Mitch Marsh, Alex Carey, Ashton Agar, Nathan Coulter-Nile, Chris Lynn, Nathan Lyon, Glenn Maxwell, Ben McDermott, Darcy Short, Billy Stanlake, Mitchell Starc, Andrew Tye, Adam Zampa, Peter Siddle
Killing of Qassem Suleimani
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.”
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
