The withering look when I ask Michael Schumacher what his hopes and dreams are for Formula One suddenly bridges a gap of 19 years. This is the second time I have posed such a question. The previous occasion was in 1991 when we were sitting in Eddie Jordan's motorhome before Schumacher's F1 debut in the Belgian Grand Prix.
Then the German was a penniless hopeful, only a kart and junior class racer, but talented enough to earn Jordan's interest and his chance for a crack at the the big time. This time around, in Barcelona for a test session ahead of his return to F1 after a three-year lay-off, it is his comeback and the cold-eyed stare is identical to the one that had held me nearly two decades ago. The terse answer is, too. "I don't deal in hopes or dreams - only in realities," he says.
His Bahrain Grand Prix opener tomorrow, and the 18 Grands Prix to follow, may be electrifying for race fans but to their 41-year-old hero it is just a stepping stone back to business. Schumacher is no longer the hard-up kid in a homemade kart. He has nearly Dh5 billion in the bank, a beautiful wife, Corinna, and two children, Gina-Maria, 12, and nine-year-old Mick, all living in splendour on the banks of a Swiss lake.
"I don't want for anything," he says, "except to be a winner and world champion again. That's why I decided to come back to F1. I should never have left it when I did. But I had grown bored. There seemed to be nothing left for me to achieve. My batteries had run flat." His numbers game, fashioned from a redoubtable skill and courage around Formula One's concrete cauldrons sped him into the record books as the most successful Grand Prix driver of all time.
The day he turned his back on his career he had amassed 91 wins, 43 seconds, 20 third places, 68 pole positions, 76 fastest laps and seven world titles in 249 outings with Jordan, Benetton and then Ferrari. The consensus is that his spell on the sidelines, watching the action from the pit lane, and operating as an ambassador for Ferrari, only served to fire up his eagerness to get back behind the wheel.
He has honed himself with day-long sessions in the gym to a peak of fitness, back to his race days weight, and recovered from a frightening neck injury sustained in a motorbike race crash early last year. He offered so much promise as a motorcycle racer, showing enough ability to be given testing outings on James Toseland's Honda and Ducati and Yamaha factory superbikes, that Carlo Fiorani, the Honda-Europe boss, tried to tempt him to take up the sport full time.
With £2 million (Dh11m) offered for his services, why he didn't has never been disclosed. He simply said: "No thanks, I am counting myself out." Whether Corinna had a say, especially after he hurt himself badly in a crash that would scupper his first bid at an F1 comeback with Ferrari last season, is a moot point. Schumacher is hailed and harangued in equal measure as a hero and a villain because of his unyielding ferocity on the track. But he does not care and harbours no desire to change his attitude.
"I race the way I race," is his response to critics. "If people don't like it there is nothing I can do. Or would want to. My need is, and always has been, to be a winner and a champion. Nothing has changed. I know I am going to be given a hard time by the likes of Jenson Button, Lewis Hamilton, Fernando Alonso, Sebastien Vettel and even my own teammate Nico Rosberg. But that will only serve to make me more motivated."
The memories of just how ruthless he is prepared to be are borne as mental scars by two victims of his determination to be a winner or to never let the other guy through. Among fans of F1, Schumacher has often been seen as a pantomime villain. Among his peers, feelings have sometimes run stronger. Perhaps most famously, there was the incident during the 1994 Australian Grand Prix, when Schumacher was forced to retire after clipping his car on a side wall. As he steered from the track he collided with Damon Hill's Williams, ending the British driver's race. As a result, neither driver scored, and Schumacher became world champion.
Hill wrote later in his autobiography: "There are two things that set Michael apart from the rest of the drivers in Formula One. His sheer talent and his attitude. I am full of admiration for the former, but the latter leaves me cold." Three years later, Schumacher was caught in a reprise of the incident at the European Grand Prix, only with Jacques Villeneuve. This time the move backfired - Schumacher was left stranded in the gravel and Villeneuve completed the race. An investigation saw the German stripped of his second place in the driver's championship.
At Spa in 1998, it was David Coulthard in the firing line when Schumacher accused the Scotsman of trying to kill him. To underline his ruthlessness, Schumacher's brother Ralf, also a driver, was left with the choice of crashing or dropping back when his sibling blocked him as he tried to overtake him in the 2001 European Grand Prix. Add to that his win-at-all-costs stance when in Monaco, the year he quit, he deliberately dumped his Ferrari on the racing line on a crucial corner in qualifying to block his challengers and wreck their timed runs.
But then Schumacher has always pushed himself to pole position. He was born in Hürth, a city in northern Germany, and his father Rolf, a bricklayer, first modified the four-year-old Michael's pedal car with a small petrol engine. After he crashed it into a lamppost, his parents decided he would be better served at the local karting club, with his father building the first kart from spare parts. When a German regulation requiring kart drivers to be at least 14 years old threatened to halt his budding career, the 12-year-old Schumacher applied to Luxembourg where the legal age was lower.
By the 1980s, he was working his way up the Formula racing circuit, landing his first F1 drive with Jordan-Ford in 1991. "Whatever people think of me, good or bad, is their own business," says Schumacher through that lop-sided smile. "I have always done what is necessary to be a winner. I'll never change. I can't. It is the way I am." Coulthard, now a BBC TV commentator, says: "Some people have accused him of making the sport dirtier - but that territory was already occupied by Ayrton Senna. I guess it doesn't matter what people, drivers and spectators alike, believe about his race ethics, you cannot help but recognise that he has been a truly fantastic champion."
Bernie Ecclestone, the F1 ringmaster, rejoicing in Schumacher's return, told me: "I can't wait - and I'll bet all those other guys on the grid feel the same way. The same goes for the 650 million people worldwide who watch the races. "The drivers will all want to show him who's boss - and Michael will be in no mood to let that happen. He's got a reputation to defend and he is going to give some of those youngsters a lesson they won't forget."
Ross Brawn, now his boss at Mercedes and the mastermind behind all of his titles, has monitored Schumachers's pre-season mood. "He's lost nothing. I reckon he'll be back as if he never left. And just as fast. His fitness is frightening - and he has completely recovered from that motorbike neck injury. "His passion and motivation have always been scary and allied to a fantastic natural ability to get the best out of a car, it makes him one hell of a problem for his rivals.
"Over the past few weeks I have seen it all come back to him. I believe we will see all the qualities of the Schumacher we grew to respect so much. If we can put together a car to match his natural ability, I believe we'll be seeing something special from him." Rumours suggested that "Shuey" only left Ferrari, and his £25m (Dh138m) a year salary, because the team had signed Kimi Raikkonen, fearing Schumacher's career was in its twilight.
"Nonsense. Absolute rubbish" is the unequivocal retort from Jean Todt, his former Ferrari boss. "Anybody who speculated that Michael retired because he was afraid of being beaten by his own teammate is stupid. Michael was not, and is not, afraid of anybody. And we certainly did not force him out to sign Kimi." One subject Schumacher refuses to discuss is his remarkable generosity. The information comes from elsewhere, a close source, that he has donated around US$50 million (Dh183m) to children's charities in Lima, Peru, Senegal and Sarajevo.
Then there was the $10m donation after the 2001 Indian Ocean tsunami killed his bodyguard Burkhard Cramer and Cramer's two young sons. All Schumacher would say was: "It is a privilege to be in a position to help people, especially poor and orphaned kids who, through no fault of their own, find themselves in awful circumstances." So maybe not a bad guy after all? * The National
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
The%20specs%3A%202024%20Mercedes%20E200
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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.”
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UNpaid bills:
Countries with largest unpaid bill for UN budget in 2019
USA – $1.055 billion
Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
Iran – $27 million
Israel – $18 million
Venezuela – $17 million
Korea – $10 million
Countries with largest unpaid bill for UN peacekeeping operations in 2019
USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
UAE currency: the story behind the money in your pockets
Cricket World Cup League 2
UAE results
Lost to Oman by eight runs
Beat Namibia by three wickets
Lost to Oman by 12 runs
Beat Namibia by 43 runs
UAE fixtures
Free admission. All fixtures broadcast live on icc.tv
Tuesday March 15, v PNG at Sharjah Cricket Stadium
Friday March 18, v Nepal at Dubai International Stadium
Saturday March 19, v PNG at Dubai International Stadium
Monday March 21, v Nepal at Dubai International Stadium
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The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Five expert hiking tips
- Always check the weather forecast before setting off
- Make sure you have plenty of water
- Set off early to avoid sudden weather changes in the afternoon
- Wear appropriate clothing and footwear
- Take your litter home with you
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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
UAE currency: the story behind the money in your pockets
Results:
5pm: Maiden (PA) Dh80,000 1,400m | Winner: Eghel De Pine, Pat Cosgrave (jockey), Eric Lemartinel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,400m | Winner: AF Sheaar, Szczepan Mazur, Saeed Al Shamsi
6pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (PA) Group 3 Dh500,000 1,600m | Winner: RB Torch, Fabrice Veron, Eric Lemartinel
6.30pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (TB) Listed Dh380,000 1,600m | Winner: Forjatt, Chris Hayes, Nicholas Bachalard
7pm: Wathba Stallions Cup for Private Owners Handicap (PA) Dh 70,000 1,400m | Winner: Hawafez, Connor Beasley, Ridha ben Attia
7.30pm: Handicap (PA) Dh 80,000 1,600m | Winner: Qader, Richard Mullen, Jean de Roaulle
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India cancels school-leaving examinations