Jari-Matti Latvala , who had been slowed earlier by food poisoning, speeding into  third place yesterday in the Rally Finland.
Jari-Matti Latvala , who had been slowed earlier by food poisoning, speeding into third place yesterday in the Rally Finland.

Hirvonen poised for home glory



JYVASKYLA, FINLAND // A string of scintillating stage times in yesterday's second leg of the Rally Finland have put the championship leader, Mikko Hirvonen, on the verge of winning his home rally for the first time in his career. The BP Ford Abu Dhabi driver has a 32-second lead over the Citroen of Sebastien Loeb to take into today's final four stages of the event.

The Finn, who will extend his lead in the world championship by at least two points if he triumphs today, had a strong start to yesterday's action, plus a puncture for Loeb on stage 15, to thank for allowing him to create a sizeable advantage. But despite having some breathing space, Hirvonen is not taking anything for granted going in today's action. "His puncture has taken the pressure off a little, but the lead isn't enough for me to relax," he said.

The Finn had led Loeb by only 3.3secs going into yesterday's nine stages and a titanic struggle between the top two in the championship, who were separated by just one point going into the event, had looked likely. But Hirvonen dominated from the start as he set the quickest time on the first five stages of the day to effectively end Loeb's challenge for his second successive victory in Finland. The reigning world champion had fallen 12.5secs behind Hirvonen after stage 14, but then lost 13.5secs on stage 15 as he suffered a puncture when his car hit a pot hole.

Having lost so much time to his rival, the Frenchman effectively held up the white flag as he admitted he was driving for second place to minimise the damage to his hopes of winning a sixth successive championship. "We lost too much time with the tyre," he said. "Mikko is too fast. We're driving to get to the finish now." While the fight for victory looks to be all over barring mechanical problems for Hirvonen, the fight for the final place on the podium looks likely to go down to the wire.

The second BP Ford Abu Dhabi car of Jari-Matti Latvala holds a slender 10.5secs advantage over Dani Sordo's Citroen. The Finn had struggled early on as he recovered from food poisoning, but he soon was back up to speed and the fastest time on stage 16 saw him take seven seconds out of Sordo to leapfrog the Spaniard and into third place. Latvala said: "In my mind I was counting on fighting back when I felt better, and now I do. It's been a big fight with Dani so far and I know he'll fight back - now we have to keep the position."

Meanwhile, the Formula One driver Kimi Raikkonen continued to make an impressive World Rally Championship debut, as he finished the day in 15th place. The Ferrari driver has impressed with his speed, but he is suffering from an engine problem as well as minor suspension damage in his Fiat, which is threatening to curtail his involvement before today's climax. gcaygill@thenational.ae

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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 

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

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The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Match info

Bournemouth 0
Liverpool 4
(Salah 25', 48', 76', Cook 68' OG)

Man of the match: Andrew Robertson (Liverpool)

Key findings
  • Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
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  • People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”. 
  • Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better. 
  • But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.

Employment lawyer Meriel Schindler of Withers Worldwide shares her tips on achieving equal pay
 
Do your homework
Make sure that you are being offered a fair salary. There is lots of industry data available, and you can always talk to people who have come out of the organisation. Where I see people coming a cropper is where they haven’t done their homework.
 
Don’t be afraid to negotiate

It’s quite standard to negotiate if you think an offer is on the low side. The job is unlikely to be withdrawn if you ask for money, and if that did happen I’d question whether you want to work for an employer who is so hypersensitive.
 
Know your worth
Women tend to be a bit more reticent to talk about their achievements. In my experience they need to have more confidence in their own abilities – men will big up what they’ve done to get a pay rise, and to compete women need to turn up the volume.
 
Work together
If you suspect men in your organisation are being paid more, look your boss in the eye and say, “I want you to assure me that I’m paid equivalent to my peers”. If you’re not getting a straight answer, talk to your peer group and consider taking direct action to fix inequality.

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.”