Floyd Mayweather Jr, right, beat Shane Mosley in a WBA welterweight bout on points.
Floyd Mayweather Jr, right, beat Shane Mosley in a WBA welterweight bout on points.

Mayweather wants 'Pac Man'



A convincing and unanimous points decision over "Sugar" Shane Mosley yesterday morning has inevitably led to calls for Floyd Mayweather Jr to sit down with his promoters to try and revive a proposed super bout with Manny Pacquiao. The fight that every boxing fan is calling out for was scrapped earlier this year after Pacquiao refused to bow to Mayweather's demands to Olympic-style drug testing, which examine blood samples, nearer to the fight instead of the mandatory 30 days as it is at present. Mayweather, 33, insisted in the ring after the fight that he was prepared to meet Pacquiao, but said he and his camp will stick to their guns on the issue of blood testing. "If Manny Pacquiao wants to fight, it's not hard to find me," he said. "If Manny will take the blood and urine tests, we can make the fight happen for all the fans." Whether the Filipino fight king is prepared to accept the Olympic-style testing, something both Mayweather and Mosley agreed to, is another matter. Currently occupied with a run at a congressional seat in the Philippines' House of Representatives on May 10, the "Pac Man" may find he no longer has the time to dedicate himself to months-long training camps, something he would undoubtedly have to do to face Mayweather in this sort of form.

Mosley retained his WBA welterweight title despite suffering the sixth defeat of his career at the MGM Grand hotel in Las Vegas after Mayweather refused to pay the organisation's sanctioning fee for the bout. The 38-year-old became the 41st entry on the Mayweather win column as the judges had him ahead in all but one of the rounds. Mayweather showed more bite and aggression than in any of his previous encounters. Apart from clinging on after a callous straight right from Mosley midway through round two, Mayweather was at his imperious best against his fellow American. Mayweather seemed comfortable enough in the opening three minutes but Mosley rocked him with a right in round two, and another quick combination left the five-weight champion teetering again and close to the first knockdown of his professional career. After that, though, the performance was classic Mayweather the jab executed to perfection behind a peek-a-boo defence and an awesome display of the speed and power that arguably puts him above Pacquiao as the world's best fighter, pound-for-pound. Mosley looked increasingly tired as Mayweather's lightning raids helped him get comfortably on top. Mosley was hammered hard by a right in the eighth round when he appeared to be discussing a brief stoppage with his corner. Punches were raining down on Mosley by round 10 as Mayweather pressed for the knockout. A left in the 11th rocked Mosley's head back but his corner still opted to send him out for the last round despite the punishment he was taking.

Mosley had a decent showing in the final round but there was very little surprise when the contest went Mayweather's way on points. Mayweather said: "I gave the fans what they wanted to see. They wanted to see me moving, and coming forward and that's what I did tonight. "We should have pressed the attack a lot earlier and we could have got the knockout, but Shane Mosley is a tough customer and he is one hell of a fighter." Asked about the brief period in round two where Mosley appeared to get on top, Mayweather added: "That's all with the territory of boxing only the strongest survive. This is a contact sport, some time you are going to get hit with big shots. You just suck it up and keep fighting hard like a warrior."

* Compiled by Steve Luckings, with agencies

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
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

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.”

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 
NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3C%2Fstrong%3E%3A%20ASI%20(formerly%20DigestAI)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Quddus%20Pativada%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Artificial%20intelligence%2C%20education%20technology%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%243%20million-plus%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GSV%20Ventures%2C%20Character%2C%20Mark%20Cuban%3C%2Fp%3E%0A
Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

THE BIO

BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.

Famous left-handers

- Marie Curie

- Jimi Hendrix

- Leonardo Di Vinci

- David Bowie

- Paul McCartney

- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

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 

If you go…

Emirates launched a new daily service to Mexico City this week, flying via Barcelona from Dh3,995.

Emirati citizens are among 67 nationalities who do not require a visa to Mexico. Entry is granted on arrival for stays of up to 180 days. 

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

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