Eight-time European Tour title-winner Sergio Garcia is hoping to work his way into the top five in the world rankings this year.
Eight-time European Tour title-winner Sergio Garcia is hoping to work his way into the top five in the world rankings this year.

Garcia playing the waiting game



Sergio Garcia, the Spanish golfer who celebrated his 30th birthday earlier this month, has plenty of time on his side. His patience, he says, is something he is continuing to improve. The young man from Castellon turned professional in 1999 and showed no signs of waiting in his pursuit of prestige, picking up two titles in his maiden year on the European Tour and pushing Tiger Woods all the way at the PGA Championship in Illinois. His performance at Medinah Country Club resulted in him being labelled "golf's newest phenom" by Sports Illustrated.

Likewise last season, with the first Race to Dubai getting under way in China, it was Garcia who impatiently ploughed his way to the top of the rebranded Order or Merit money list with victory at the HSBC Champions in Shanghai. His desire to emulate last season's strong start has seen him arrive in the UAE for this weekend's Abu Dhabi Championship nursing an injury. The Spaniard sprained his right wrist during the Dubai World Championship in November and has been out of action since. He said, with no bones broken, he was happy to wait, but soon, again, impatience took hold.

"We all thought that three or four weeks and we would be good to go, but it's taken quite a bit longer," he said. "I've only been able to practise for the last week or so, but it's a lot better. "In a way having such a long rest was a good thing, but I'd have liked to not be away from the game for quite so long. When it gets to six weeks and you've only got six or seven days to practice until the season starts, it gets a bit rushed."

Following his success in Shanghai, the eight-time European Tour title-winner found himself at a career-high world No 2. However, a poor 2009 saw him card just one further top-five finish from 16 events and he finished the year ranked 13th in the world rankings. Garcia is aiming to curb the slide this season, although appreciates Tiger's top spot is unrealistic, despite the American's "indefinite break".

"No 1 is always the goal, but hopefully, if my game gets in shape and we have a good year, we will be in the top five or six," he said. Woods could miss a large part of the season because of his self-imposed exile following revelations regarding his private life. Garcia, however, says he hopes the 14-time major winner returns soon. "Hopefully, he'll not be away for too long," he said. "I'm sure he will come back this year. And he'll come back stronger. Only he knows when he'll return, but I think he'll be back before the Masters starts [in April]. Last time he was away, we knew what was going on, this time we don't, so we need to wait and see. But the most important thing is to concentrate on our own game and do the best we can."

In other words: be patient and see what happens - advice perhaps the ruthlessly ambitious Garcia would have been reluctant to take on board as an eager and hungry 19-year-old. "I don't think I am too different to how I was in 1999," he said. "Obviously, I am 11 years older so I am a bit more mature. I have gone through things in life that make you, hopefully, a better person. "My patience now is definitely better than it was when I was 19, but it's always a learning process and I am still working on improving. But, you know, the excitement is still there. The play is still the same; it's just a matter of keep enjoying what you are doing and loving every bit of it."

American author Lyman Abbott once asserted that "patience is passion tamed". Garcia is determined to disprove such beliefs. @Email:gmeenaghan@thenational.ae Showsports 3 from 12pm

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

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.”

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

The specs

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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

About Housecall

Date started: July 2020

Founders: Omar and Humaid Alzaabi

Based: Abu Dhabi

Sector: HealthTech

# of staff: 10

Funding to date: Self-funded