The 2020 Ryder Cup will be postponed for a year because of the coronavirus pandemic. AFP
The 2020 Ryder Cup will be postponed for a year because of the coronavirus pandemic. AFP
The 2020 Ryder Cup will be postponed for a year because of the coronavirus pandemic. AFP
The 2020 Ryder Cup will be postponed for a year because of the coronavirus pandemic. AFP

Ryder Cup postponed due to coronavirus


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This year's Ryder Cup, which was scheduled to be held in late September in Wisconsin, has been postponed until 2021 due to the Covid-19 pandemic, organisers said on Wednesday.

The hotly-contested biennial team competition between the United States and Europe, known for its raucous, partisan crowds, was originally scheduled for September 25-27 at Whistling Straits. It will now be held September 24-26, 2021.

The Presidents Cup, which pits a 12-man team from the US against international players from outside Europe, was also postponed a year and will played September 22-25, 2022 at Quail Hollow Club in North Carolina, organisers said.

Organisers said medical experts and public authorities in Wisconsin were not able to provide certainty that conducting an event responsibly with thousands of spectators in September would be possible.

"As disappointing as this is, our mandate to do all we can to safeguard public health is what matters most," PGA of America chief executive Seth Waugh said in a statement.

"The spectators who support both the US and European sides are what make the Ryder Cup such a unique and compelling event and playing without them was not a realistic option."

The Ryder Cup and Presidents Cup are the latest events on a ravaged golf calendar to be hit by the coronavirus outbreak, which already forced three of the sport's four majors to be postponed while the British Open was cancelled.

"These two premier international team events are lifted by the spirit of the fans," said PGA Tour Commissioner Jay Monahan.

"With the uncertainty of the current climate, we fully support the Ryder Cup's decision to delay a year in order to ensure fans could be a part of the incredible atmosphere in Wisconsin, and the delay of next year's Presidents Cup was the right decision in order to allow for that option."

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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
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

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.”

BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

Calls

Directed by: Fede Alvarez

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

4/5

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

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Available: Now

UAE currency: the story behind the money in your pockets
Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
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Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
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UAE currency: the story behind the money in your pockets
West Indies v India - Third ODI

India 251-4 (50 overs)
Dhoni (78*), Rahane (72), Jadhav (40)
Cummins (2-56), Bishoo (1-38)
West Indies 158 (38.1 overs)
Mohammed (40), Powell (30), Hope (24)
Ashwin (3-28), Yadav (3-41), Pandya (2-32)

India won by 93 runs

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Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

The specs: 2018 Bentley Bentayga V8

Price, base: Dh853,226

Engine: 4.0-litre twin-turbo V8

Transmission: Eight-speed automatic

Power: 550hp @ 6,000pm

Torque: 770Nm @ 1,960rpm

Fuel economy, combined: 11.4L / 100km