Abdullah has set his sights on gold



Marwan Abdullah was not very fond of karate when he was growing up. He just could not share his father's enthusiasm for the sport and was a reluctant beginner, bowing to parental pressure. As he progressed through the basics of the sport, the youngster gradually got hooked and is one of the country's brightest prospects today. A late starter, the 17-year-old has won two gold medals in kata (a series of specified moves) at the Gulf championships since he started competing three years ago and is now looking forward to his first foray at the Asian level later this month.

Abdullah is part of the 16-member UAE team that will be taking part in the ninth Asian Senior Karate Championship in Guangzhou, China, later this month. The challenge will be difficult but Abdullah is hoping to script another success story at the biennial event that is held between the Olympics and the Asian Games. "This is the first time I will be participating outside the Gulf region," said the class 12 student, who plans to join the American University of Dubai next year.

"It is going to be a very tough championship, especially since it's my first. I will also be competing in the men's category, which makes it all the more difficult. There will not be many people from my age group; most of them will be over 21. "Still, I hope to well. I know it is going to be difficult, but I want to get the gold medal; that is my goal and dream." Abdullah's optimism stems from his gold-winning performance in the men's kata at last month's Armed Forces Officers Club's Ramadan Games in Abu Dhabi.

He overshadowed Egypt's Mustafa Ibrahim, a kata individual gold medal- winner at last year's World Junior Championship in Turkey, for the title. "The win over Ibrahim gives me the confidence that I can do well at the Asian Championship," said Abdullah, after winning a second gold medal in a week at the Super Tiffany Taekwondo and Karate Championship on Friday. The tournament was organised as a preparatory event for the Asian championship and Abdullah believes the event served its purpose.

"These competitions we are having between ourselves reduces a bit of the stress and gets us ready for China," he said. "Of course, I am also very happy that I am doing well every time and winning, and I hope I can continue this progress. We are getting better with every competition. "I think I am ready for Asia. I just need a bit more training, more time. I am new to karate. I have been in the sport for just three years. All my friends have been competing for 10 or 15 years."

In three years, Abdullah has achieved more than his compatriots, winning the gold medal at the Gulf championships in 2006 and repeating that success earlier this year in Bahrain. "I am really glad about the success I have had. I love what I am doing and the results have only served to encourage me," he said. Abdullah thanks his father for all the success: if he had not kept pushing his son, he would have never taken the sport seriously. "My father used to do a bit of karate when he was in the United States, so he pushed us to take part," he said.

"We did not like it at the beginning, but after a few years we started to enjoy it. So all the credit goes to him. I would not be here without his support and encouragement. "He is happy with what I have achieved and I want to make him really proud by winning the Asian title; if not this time, then some day soon." arizvi@thenational.ae

How England have scored their set-piece goals in Russia

Three Penalties

v Panama, Group Stage (Harry Kane)

v Panama, Group Stage (Kane)

v Colombia, Last 16 (Kane)

Four Corners

v Tunisia, Group Stage (Kane, via John Stones header, from Ashley Young corner)

v Tunisia, Group Stage (Kane, via Harry Maguire header, from Kieran Trippier corner)

v Panama, Group Stage (Stones, header, from Trippier corner)

v Sweden, Quarter-Final (Maguire, header, from Young corner)

One Free-Kick

v Panama, Group Stage (Stones, via Jordan Henderson, Kane header, and Raheem Sterling, from Tripper free-kick)

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.”

Calls

Directed by: Fede Alvarez

Starring: Pedro Pascal, Karen Gillian, Aaron Taylor-Johnson

4/5

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
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  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
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  • Disruption Lab and Research Centre for developing entrepreneurial skills
COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5