Sheikh Mohammed bin Rashid, the Vice President of the UAE and the Ruler of Dubai, will decide if Dubai Prince will be entered in the Champion Stakes next month after victory in his comeback event, according to Godolphin's racing manager.
The Dubai operation's one-time Classic hope made an encouraging return to the track from a pelvic injury when taking the Dubai Duty Free Conditions Stakes by two and a half lengths at Newbury, England on Friday.
Asked about the Champion Stakes, Simon Crisford said: "He's got an entry, but we'll see what Sheikh Mohammed wants to do. We were very pleased, and he came back great after a hairline fracture to his pelvis."
The Godolphin founder will also be charting a path for Mighty Ambition, who opened her account at the first attempt at Newbury yesterday.
A host of big stables were represented in the Maiden Stakes but Mahmood Al Zarooni's filly, out of Michael Jarvis's Group-class mare New Morning, finished the strongest to win by three-quarters of a length.
"It's not a complete surprise but that's very good - she has a good pedigree and plenty of promise," Crisford said.
"She's not in any big races yet, but she will be."
Also making a return was Casamento, the three-year-old Shamardal colt, who ran on strongly for a cosy last-to-first success in the Group 3 Prix du Prince d'Orange over 2,000 metres at Longchamp, France yesterday.
Making his first start since coming home ninth in a Group 1 race in France in June 5, Casamento broke well, and was soon taken to the rear of the seven runners by Mickael Barzalona. He was still last as the field entered the straight and was switched out to deliver his challenge entering the final quarter-mile.
Casamento quickened well inside the final furlong to take the lead near the line and score comfortably by a length over Barocci.
"I am really pleased that Casamento has come back like this," Al Zarooni, the Emirati trainer, said.
"He briefly looked like he didn't want to pass the rest of the field, which was probably a result of his two previous runs, but he did it nicely in the end.
"We will see how he comes out of the race before making any plans for him but we will look to step him back up in class now."
Meanwhile, just seven horses have been confirmed for the Nayef Joel Stakes at Newmarket on Friday - and two of those could be wearing the blue silks of Godolphin. Poet's Voice and Emerald Commander, both of whom are trained by Saeed bin Suroor, have been declared.
Elsewhere, there was a fitting one-two in the Dubai Duty Free Handicap yesterday for members of the Dubai Royal family.
Taqleed, owned by Sheikh Hamdan bin Rashid, saw off Naqshabban, the horse owned by his cousin, Sheikh Mohammed Obaid, in a tight finish at Newbury, England.
The winner, trained by John Gosden, came with a surging run down the outside of the field and was persuaded by jockey Tadgh O'Shea to put his head in-front 50 yards from the line.
Naqshabban held every chance but just could not match the winner at the end of their protracted duel.
"I had him in the Leger until the last minute and he lost his way a bit in a dry spring," Gosden said:
"He likes the trip and doesn't have to be ridden like that - he came from last to first."
Sheikh Mohammed Obaid is not a prolific owner but did shoot to fame in 1998 when he won the English Derby with his homebred High-Rise.
He manages the racing interests of Sheikh Ahmed bin Rashid at the racecourse and training centre at Jebel Ali.
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Sun jukebox
Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)
This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.
Elvis Presley, Mystery Train (1955)
The B-side of Presley’s final single for Sun bops with a drummer-less groove.
Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)
Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.
Carl Perkins, Blue Suede Shoes (1956)
Within a month of Sun’s February release Elvis had his version out on RCA.
Roy Orbison, Ooby Dooby (1956)
An essential piece of irreverent juvenilia from Orbison.
Jerry Lee Lewis, Great Balls of Fire (1957)
Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
UAE currency: the story behind the money in your pockets
THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
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 banned).
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.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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The%20specs%3A%202024%20Mercedes%20E200
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FA CUP FINAL
Chelsea 1
Hazard (22' pen)
Manchester United 0
Man of the match: Eden Hazard (Chelsea)
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
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.”
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
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket