When you hear the name Lincoln Continental, do you automatically conjure images of vast land yachts with front and rear overhangs that stretch as far as the eye can see? This was pretty much the case for me, but time never stands still, and this is why modern-day Cadillacs bear little resemblance to the gargantuan Fleetwoods and Eldorados of yesteryear.
In Lincoln’s case, the impact of changing times is so profound that the Continental nameplate was quietly shelved in 2002 after an almost unbroken run dating from 1939. The brand as a whole had become a pale reflection of its halcyon days, when its Continental flagship was the default limo for American presidents, including John F Kennedy.
But the storied marque is now attempting to recapture past glories, and its most-telling statement of intent comes via the new 10th-generation Continental. Perhaps you’re reminded of the Jaguar XJ, or even the Bentley Flying Spur, when you look at the image on the right, and I don’t blame you. There clearly are some Jag/Bentley influences there, but the Conti looks stately enough in its own way – it’s certainly more imposing than the nondescript MKS that preceded it.
In terms of dimensions, the Continental is pretty much lineball with the BMW 7 Series and Mercedes S-Class, although its pricing (from Dh189,000 to Dh305,000) puts it more in line with the 5 Series, E-Class and A6. There is a reason for this, because in China, which is a key market for the car, it competes with the long-wheelbase versions of the 5 Series/E-Class/A6 designed specifically for the world’s most-populous country.
So what’s the Continental like? Well, in many ways, the newbie makes a positive impression. There are some nice touches, such as the Lincoln-logoed “welcome mat” that lights up on the ground as you approach the car.
Touch a button on the prominent chrome door handles and the portals unlatch to make for easy entry/exit. The heavy (soft-close) doors make for vault-like solidity, and the cabin too imparts a predominantly premium feel, with its sumptuous leather trim, 30-way electrically adjustable seats, chrome highlights and polished wooden trim. There are lovely knurled aluminium knobs for the heating, ventilation, air conditioning and audio settings, but unfortunately this is offset by some cheap-looking plastic buttons and switches seemingly sourced from the Ford parts bin.
The rear compartment is plush, particularly in my range-topping tester, which comes with reclining rear pews and a control panel for the air-conditioning/heater settings and 19-speaker Revel audio system.
It’s a comfortable place to be, and this is important given the Continental will also be competing for hotel-limo business.
In terms of the driving experience, the Continental flagship’s 3.0L twin-turbo V6 (a Lincoln-specific motor, although it’s derived from the Ford EcoBoost family) serves up bags of grunt, reflected by a 0-to-100kph split of 5.2 seconds – not bad for a two-tonne-plus limo. Ride quality is soft and floaty, as you would expect from a luxury-orientated American car, and there is ample body roll if you heave it into corners. There is a Sport mode activated via a three-step process, but this doesn’t dramatically change the character of the car. In any case, it defaults back to Comfort when you switch off the ignition – non-manic cruising is what the Lincoln’s designed for.
As an overall entity, the Continental is a vast improvement on its predecessors, and an encouraging sign of progress from Lincoln. There’s still some way to go to catch up with the Germans, though.
motoring@thenational.ae
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
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 smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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
FIXTURES
Fixtures for Round 15 (all times UAE)
Friday
Inter Milan v AS Roma (11.45pm)
Saturday
Atalanta v Verona (6pm)
Udinese v Napoli (9pm)
Lazio v Juventus (11.45pm)
Sunday
Lecce v Genoa (3.30pm)
Sassuolo v Cagliari (6pm)
SPAL v Brescia (6pm)
Torino v Fiorentina (6pm)
Sampdoria v Parma (9pm)
Bologna v AC Milan (11.45pm)
