Imagine buying a state-of-the-art (and very expensive) set of carbon fibre golf clubs, thinking if you're going to take up the sport, you might as well get the best set. It will only help your game as you teach yourself, right? The problem is, if you don't know how to play, you'll never know why this set is so good. And you'd have wasted your money. And probably broken one or two clubs as you beat the ground in frustration.
The same goes with cars. If you buy a brand-new Porsche, you want to be able to enjoy it for what it really is - one of the best sports cars on the market. The problem is, again, that if you don't know how to use it, you're just cheating yourself.
And Porsche knows this. That's why the German car maker has developed a series of driving schools to allow Porsche owners to find out for themselves what their cars are capable of; as an added benefit, the owners get to find out what they're capable of, too. That's part of the fun.
The lessons are offered all around the world, and Porsche says more than 70,000 people a year take part. But the headquarters of the Porsche Sport Driving School is here in Leipzig, Germany, beside the factory that produces the Cayenne and Panamera. It's a natural, grassy setting - Porsche boasts it has wild ponies and rare cattle that help take care of the grounds. But the landscape I'm more interested in is covered in asphalt - the track was designed to incorporate some of the most famous aspects of racing circuits in the world. There is the Bus Stop chicane, from Circuit de Spa-Francorchamps in Belgium; the Parabolica from Monza; Lowes hairpin from the Monaco circuit; and my favourite, the stomach-churning Corkscrew of Laguna Seca.
As a novice, I'll be starting off in the Warm-Up training, an introduction to what Porsche's iconic sports car, the 911, can really do. But before our group hits the track, we hit the classroom for a chat about the technical aspects of driving, held in a grand building known as "The Diamond". The meat of the talk is about tyre friction and balance, the key components to driving: understeer, oversteer and how to both avoid and control the two characteristics. It's all very technical, but very necessary.
But seeing it in a graphic on a large screen and actually experiencing it are two different things altogether, so it's time to get in the car.
Imagine coming out of your flat and getting to choose which 911 you want to drive; there was the Cabriolet S, the Carrera 4, the 4S Targa and the GTS, all in a line, all waiting for a driver. Ranging from 345hp to 408hp, it's hard to choose poorly. Besides, we'll end up driving all of them by the end of the day.
I'm in the Cabriolet S for the first braking lesson; with a temperature hovering around 0 Celsius, I decide to leave the top up. But the action on the track is hot enough, with higher-speed emergency stops that teaches the limits of braking, the effects of the ABS and how to judge the braking distance. You can't really do this on a road without attracting the attention of the local constabulary.
Nor can you really do anything here on a public road, and that's the whole point. With large runoff areas off the track and trained instructors to guide you, Porsche puts a premium on the safety of its students while ensuring that they can do things they normally wouldn't even think of. It's exciting, and it's also quite, well, liberating.
It's on to an emergency obstacle avoidance manoeuvre, with a twist - we get to experience it with the Porsche Stability Management, or traction control, turned off. Rare is the time that a car maker will allow the press to turn off the traction control at a sanctioned event, but it's intrinsic to seeing how the system actually works. And though it does work well, I was pleasantly surprised to see how well the car handles with it off, especially with the engine and a considerable amount of weight at the back of the car - the oversteer in the emergency turns with no throttle was actually fairly easy to control. Depending on the speed, of course; at one point I had to scrub the grass and mud off the wheels after an appalling attempt at spin recovery.
We move to a wet skid pad that accentuates the understeer/oversteer effects, and are invited to try to drift the rear end around a circle in the rear-wheel-drive 911s. I think this is where the instructors get a sneaky satisfaction from doing something no one else can, but the difficulty in the lesson is telling in how the car wants to be driven properly.
In between the lessons - in which many pylons were maimed or killed - there are hot laps on the track behind an instructor. Following the proper racing line, you get a feel for how balanced the 911 really is, in any variation. And having the braking lessons to start off the day is brilliant; it's the most important aspect of driving correctly on the track, and allows a driver the confidence to tackle even the tightest of hairpins.
At the end of the day, you'll feel like a better driver, guaranteed. Until, of course, you climb into the passenger side of a GT3 RS for a couple hot laps with an instructor; that's when you realise how much better you can really get. The drive starts off appallingly fast, with immaculate braking into a turn and hard throttle at the perfect exit, reaching speeds far beyond what the classes have you do. Then, just to show another level, the track is done drifting through the turns at high speeds, the rear end of the car hanging out and the tyres screeching their disapproval.
The bad part about the whole experience? You'll want to throw away that set of clubs when you get home; golf will just get in the way of your newfound addiction to the track.
A one-day Warm-Up training without free driving is €790 (Dh4,000); a two-day Precision course with free driving is €1,190 (Dh6,000).
Engine: 5.6-litre V8
Transmission: seven-speed automatic
Power: 400hp
Torque: 560Nm
Price: Dh234,000 - Dh329,000
On sale: now
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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
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Ronaldo's record at Man Utd
Seasons 2003/04 - 2008/09
Appearances 230
Goals 115
Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Brief scores:
Manchester United 4
Young 13', Mata 28', Lukaku 42', Rashford 82'
Fulham 1
Kamara 67' (pen),
Red card: Anguissa (68')
Man of the match: Juan Mata (Man Utd)
Spare
Profile
Company name: Spare
Started: March 2018
Co-founders: Dalal Alrayes and Saurabh Shah
Based: UAE
Sector: FinTech
Investment: Own savings. Going for first round of fund-raising in March 2019
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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 specs: 2018 Maserati Levante S
Price, base / as tested: Dh409,000 / Dh467,000
Engine: 3.0-litre V6
Transmission: Eight-speed automatic
Power: 430hp @ 5,750rpm
Torque: 580Nm @ 4,500rpm
Fuel economy, combined: 10.9L / 100km
Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
AGL AWARDS
Golden Ball - best Emirati player: Khalfan Mubarak (Al Jazira)
Golden Ball - best foreign player: Igor Coronado (Sharjah)
Golden Glove - best goalkeeper: Adel Al Hosani (Sharjah)
Best Coach - the leader: Abdulaziz Al Anbari (Sharjah)
Fans' Player of the Year: Driss Fetouhi (Dibba)
Golden Boy - best young player: Ali Saleh (Al Wasl)
Best Fans of the Year: Sharjah
Goal of the Year: Michael Ortega (Baniyas)
Men's football draw
Group A: UAE, Spain, South Africa, Jamaica
Group B: Bangladesh, Serbia, Korea
Group C: Bharat, Denmark, Kenya, USA
Group D: Oman, Austria, Rwanda
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
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What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
ZAYED SUSTAINABILITY PRIZE
Mohammed bin Zayed Majlis
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
MATCH INFO
Manchester City 3 (Silva 8' &15, Foden 33')
Birmginahm City 0
Man of the match Bernado Silva (Manchester City)
