Simone Biles, of the United States, reacts after winning the bronze medal.

LPGA Tour star Paula Creamer pays tribute to 'courageous' Simone Biles



Ten-time LPGA Tour winner Paula Creamer has praised Simone Bile’s courage to prioritise her mental health last week at the Olympics, citing the American gymnast’s “remarkable” resolve in taking bronze on the beam on Tuesday.

Biles, one of the most prominent athletes competing in Tokyo, withdrew from last week’s team final after suffering from “twisties” – a type of mental block encountered sometimes by gymnasts. Biles had already performed on the vault, but did not compete on any other apparatus. The 24-year-old later said she pulled out of the event in order to protect her mental health.

The decision attracted a significant amount of support for Biles, but also received some criticism. It soon prompted further debate about mental health.

On Tuesday, Biles returned to the beam on the final day of artistic gymnastics at the Ariake Gymnastics Centre and scored 14.000 to eventually take home bronze. It marked her seventh Olympic medal in total – she already has four golds, one silver and a bronze - lifting her to become the joint-most decorated American gymnast in the history of the Games alongside Shannon Miller.

Creamer, speaking later Tuesday before her debut this week at the Aramco Team Series – Sotogrande, said of her compatriot: “I can’t imagine what she went through with all of that. It was probably one of the hardest decisions in the world to sit out. As an athlete, you think you can do anything, especially someone who is ‘GOAT’, the greatest of all time. That must have taken a lot of courage, and probably time to come to think about that and say, ‘This is what I’m doing’.

“I take my hat off to her for embracing that. And then she went out and took bronze in beam, which is remarkable as well. Going through that, and everybody criticising the decisions, it’s tough. It’s hard.”

Creamer, 34, is in her 16th year on the LPGA Tour. The 2010 US Women’s Open winner returned to the circuit in May to make her first start since October 2019, as she battled back from wrist and thumb injuries. Creamer, who last month announced she is expecting her first child, said the time away allowed her to focus on both the physical and mental side of golf. On Tuesday, she welcomed how the spotlight in elite-level sport is being shone more brightly on mental health.

“With my career I’ve been pretty fortunate that nobody’s ever really sat there and dissected my whole career and my decisions that I have made,” said Creamer, a seven-time United States Solheim Cup star. “But it is a part of it. It’s been a part of every athlete for so long.

“It’s just amazing now that we’re all touching upon it these past several years. It’s obviously very apparent this year. But it has been going on for so long. And it’s amazing that it’s taken this long for people to actually see it.”

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

MATCH INFO

West Ham United 2 (Antonio 73', Ogbonna 90 5')

Tottenham Hotspur 3 (Son 36', Moura 42', Kane 49')

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

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.”

Graduated from the American University of Sharjah

She is the eldest of three brothers and two sisters

Has helped solve 15 cases of electric shocks

Enjoys travelling, reading and horse riding

 

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 
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Updated: August 04, 2021, 3:03 AM