Jamaica's Asafa Powell celebrates after his victory in the 100m final.
Jamaica's Asafa Powell celebrates after his victory in the 100m final.

Powell equals second fastest 100m time



LAUSANNE // The Former world record holder Asafa Powell equalled the second fastest time ever over 100 metres when he clocked 9.72 secs at the Lausanne grand prix. The Jamaican, who finished fifth in the Beijing Olympics final, equalled the mark set by compatriot Usain Bolt in New York City this year. Bolt reduced his own mark to 9.69 secs in the Olympic final and also set a world record in the 200 metres. He was a member with Powell of the Jamaican quartet who set a world record in the 4x100 metres relay final.

Bolt cruised to victory in the 200m here with a time of in 19.63 seconds. "After all my problems this year I'm satisfied with my performance," said Powell after racing away from a strong field, comprising all of the Beijing finalists except for Bolt. "It's also great to set a new personal record." Making the fastest start out of the blocks, Powell finished 0.2 of a second clear of the Olympic bronze medallist Walter Dix of the United States with Jamaica's Nesta Carter taking third place, a further 0.06 secs back.

Victory in the 200m was never in doubt for Bolt, who finished more than half a second clear of the runner-up Churandy Martina. While Powell was greeted to rapturous applause by the Lausanne crowd, Bolt heard the rare sound of jeers from the spectators after slowing up in the final metres. "It was a good time," Bolt said after matching Xavier Carter's 2006 Lausanne track record. "But I've made history now so a lot of people are looking to me for big times and great things. I'm always going out to do my best but it's a long season and I trailed off because I want to stay injury-free right the way to the end.

"I'm happy for Asafa tonight. He has always been there, but he's looking pretty good now. "There are a lot of guys to think about in the 100 metres." Powell and Bolt were among six Jamaicans celebrating as the country's athletes won all but two of the sprint events. After dominating the podium in the Olympic women's 100m, Jamaica sealed a one-two finish in Lausanne with Olympic champion Shelly-Ann Fraser again finished in front of the joint Beijing silver medallist Kerron Stewart.

In a thrilling race, Fraser crossed the line in 11.03secs, just 0.03secs ahead of Steward. Melanie Walker, another Jamaican Olympic champion, finished more than a second clear of her rivals in the 400m hurdles, while Shericka Williams won the 400m race in the absence of the British Olympic champion Christine Ohurogu. Delloreen Ennis-London completed Jamaica's strong showing, clinching the 100m hurdles after a late mistake by the Olympic champion Dawn Harper.

The American brought down the final hurdle while leading the race, recovering to cross the line 0.03 secs behind Ennis-London. Bizarrely the same thing then happened in the men's sprint hurdles, with Cuba's Olympic champion and world record holder Dayron Robles also catching the last barrier to finish second behind the American David Oliver. LaShawn Merritt provided the United States with their only other victory in this meet.

In the absence of his main rival Jeremy Wariner, Merritt posted a respectable time of 43.98 secs. Twice an Olympic 400m hurdles champion Angelo Taylor demonstrated his talent on the flat, finishing second behind Merritt in 44.38 secs. * Reuters

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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 

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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Favourite book: Lemurs of Madagascar by Russell A Mittermeier

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