Mercedes' Lewis Hamilton after qualifying at Silverstone on Saturday. Reuters
Mercedes' Lewis Hamilton after qualifying at Silverstone on Saturday. Reuters
Mercedes' Lewis Hamilton after qualifying at Silverstone on Saturday. Reuters
Mercedes' Lewis Hamilton after qualifying at Silverstone on Saturday. Reuters

Lewis Hamilton sets new track record to grab British Grand Prix pole


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Lewis Hamilton smashed the Silverstone track record to put Mercedes on pole position for his home British Grand Prix on Saturday.

Hamilton delivered a blistering lap of 1 minute 24.303 seconds at the Northamptonshire circuit to secure the 91st pole of his career and cement his status as the pre-race favourite to win at the circuit for a seventh time.

Hamilton saw off team-mate Valtteri Bottas by an impressive 0.313 seconds, with the all-black machines continuing to crush their bewildered opposition.

Red Bull driver Max Verstappen finished third, but the Dutchman was a full second slower than Hamilton. Charles Leclerc was further back in fourth for Ferrari. British driver Lando Norris finished fifth for McLaren.

Hamilton headed into the top-10 shootout at a windy Silverstone having failed to finish fastest in either of the three practice sessions, and with Bottas quickest in Q1 and Q2.

There was also the rare sight of a Hamilton spin, after the six-time world champion lost control of his Mercedes on the exit of Luffield.

Hamilton made it back to the pits as the session was halted for eight minutes to clear up the mess of gravel and stones he had left behind.

Lewis Hamilton drives at a windy Silverstone. Getty
Lewis Hamilton drives at a windy Silverstone. Getty

He recovered to ensure he progressed to the final stage of qualifying and then predictably delivered when it mattered most, to claim pole on his seemingly unstoppable march towards a record-equalling seventh world championship. It also marked his seventh pole at his home race.

"It was real struggle out there," said Hamilton. "We had that spin and qualifying is about confidence.

"I was down in the first sector, too, so I don't know how but I managed to compose myself for Q3.

"Q3 started off the right way, it was a clean first lap and the second one was even better. It never gets old qualifying on pole.

"Normally you have the sirens going off, the flags, the smoke and the atmosphere is buzzing. We miss the fans here but hopefully they are happy with my turnaround watching at home."

Sebastian Vettel finished 10th, an eye-watering two seconds slower than Hamilton while Alexander Albon's rocky campaign continued as he was unable to get his Red Bull through to Q3.

Red Bull are historically ruthless in axing drivers and the London-born Albon, who qualified only 12th, faces a precarious future if his one-lap performances fail to improve.

Albon will line up one place ahead of Nico Hulkenberg. The German is deputising for Sergio Perez this weekend after the Mexican became the first Formula One driver to return a positive Covid-19 test result.

Fixtures:

Wed Aug 29 – Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore
Thu Aug 30 - UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman
Sat Sep 1 - UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal
Sun Sep 2 – Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore
Tue Sep 4 - Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong
Thu Sep 6 – Final

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.

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.”

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Coal Black Mornings

Brett Anderson

Little Brown Book Group 

Company%20profile
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COMPANY PROFILE
Name: Mamo 

 Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua

 Based: Dubai, UAE

 Number of employees: 28

 Sector: Financial services

 Investment: $9.5m

 Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. 

 
Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

Sanju

Produced: Vidhu Vinod Chopra, Rajkumar Hirani

Director: Rajkumar Hirani

Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani

Rating: 3.5 stars

TEAMS

EUROPE:
Justin Rose, Francesco Molinari, Tyrrell Hatton, Tommy Fleetwood, Jon Rahm, Rory McIlroy, Alex Noren, Thorbjorn Olesen, Paul Casey, Sergio Garcia, Ian Poulter, Henrik Stenson

USA:
Brooks Koepka, Justin Thomas, Dustin Johnson, Patrick Reed, Bubba Watson, Jordan Spieth,​​​​​​​ Rickie Fowler, Webb Simpson, Tiger Woods, Phil Mickelson, Bryson DeChambeau ( 1 TBC)

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5