In this file photograph taken on July 4, 2010, Italy's Alessandro Petacchi celebrates on the finish line in Brussels at the end of the 203,5 km and first stage of the 2010 Tour de France. The Italian is one of four current and former cyclists to have been provisionally suspended for potential doping violations following information from the Austrian law enforcement authorities, the International Cycling Union (UCI) said on Wednesday. AFP
In this file photograph taken on July 4, 2010, Italy's Alessandro Petacchi celebrates on the finish line in Brussels at the end of the 203,5 km and first stage of the 2010 Tour de France. The Italian Show more

UCI suspend four cyclists for potential anti-doping breach



UAE Team Emirates rider Kristijan Durasek was on Wednesday named as one of four European cyclists provisionally suspended for potential doping violations.

The International Cycling Union (UCI), acting on information from Austrian law enforcement authorities on Wednesday notified current riders Durasek and Kristijan Koren of Team Bahrain Merida, as well as former riders Alessandro Petacchi and Borut Bozic of potential Anti-Doping Rules Violations (ADRV) as part of the "Operation Aderlass" investigation.

The four are under investigation for employing prohibited doping methods between 2012 and 2017.

"The UCI and the Cycling Anti-Doping Foundation [CADF] ... have been in close contact with the sport and state authorities involved in the Aderlass investigation, in particular with the World Anti-Doping Agency [Wada] and the Austrian law enforcement authorities," UCI said in a statement.

UAE Team Emirates have suspended 31-year-old Croatian Durasek, who was riding in the Tour of California, with the bombshell coming 24 hours after the team withdrew Colombian cyclist Juan Sebastian Molano from the ongoing Giro d'Italia after internal tests found "unusual physiological results".

"The Team hopes that Durasek can prove he was not involved in the affair. Should it be proven otherwise, he will be terminated immediately," UAE Team Emirates said in a statement.

Team Bahrain Merida have also provisionally suspended 32-year-old Koren and Bozic, who ended his cycling career last year and is assistant sports director at the team.

"The team strictly advocates zero-tolerance doping policy and has therefore provisionally suspended both members concerned," the Bahrain-based team said in a statement.

"We would like to stress that both cases relate to the 2012 and/or 2013 seasons. The team always carries out thorough medical checks (including biological passport checks) of any new signed rider."

Petacchi, who has won 48 Grand Tour stages, including 22 on the Giro d'Italia, retired in 2015 and has denied the allegations outright.

"I never had a blood transfusion and I have no idea why I'm being connected with this case," the 45-year-old told Italian newspaper Corriere della Sera.

Operation Aderlass is looking into blood doping, a process where athletes have blood transfusions to increase their stamina and performance, a method prohibited under Wada regulations.

The provisional suspension begins on the day of the notice and a UCI Anti-Doping Tribunal will be established to hear the anti-doping rules violations.

UAE currency: the story behind the money in your pockets
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 

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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Du Plessis plans his retirement

South Africa captain Faf du Plessis said on Friday the Twenty20 World Cup in Australia in two years' time will be his last.

Du Plessis, 34, who has led his country in two World T20 campaigns, in 2014 and 2016, is keen to play a third but will then step aside.

"The T20 World Cup in 2020 is something I'm really looking forward to. I think right now that will probably be the last tournament for me," he said in Brisbane ahead of a one-off T20 against Australia on Saturday. 

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MATCH INFO

Inter Milan 2 (Vecino 65', Barella 83')

Verona 1 (Verre 19' pen)

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