Carlos Sastre punches the air as he finishes last night's time-trial with his display all but winning this year's Tour de France.
Carlos Sastre punches the air as he finishes last night's time-trial with his display all but winning this year's Tour de France.

Super Sastre stays in yellow



Carlos Sastre produced the time-trial of his life to ensure he will be crowned the Tour de France champion later today on the Champs-Elysees. The Spaniard finished last night's 53-kilometre stage from Cerilly to Saint-Amand-Montrond in 12th place, but crucially just 29 seconds behind Cadel Evans.

It leaves Sastre going into the final stage in Paris with a one minute five second lead over the Australian, which will not be beaten on the cobblestones of the French capital. The penultimate stage of the Tour had been billed as a head-to-head between Sastre the climber and Evans the time-trial expert, who had beaten his rival by over a minute in the Cholet time-trial in the first week of the race.

But Evans, who had ridden the course in the morning in preparation, looked sluggish from the outset and struggled to find a rhythm. Sastre still clocked the slower time, but he knew as he crossed the finishing line it would put a third Spaniard in as many years on the top spot at the race end, following on from Oscar Pereiro in 2006 and Alberto Contador last year. As he reached the finish Sastre, 33, whose previous best Tour finish was third behind Pereiro in 2006, produced a brief celebration, knowing he had produced a sufficiently strong ride to set up the biggest win of his career.

He said: "Winning the Tour de France is a dream come true. I suffered a lot in this time-trial because it was essential that I rode flat out. "I arrived at the Tour in the best shape of my career and what has happened is really a dream for every professional. I'm pleased to be a part of the history of the sport with this victory." The time-trial itself was once again dominated by Stefan Schumacher. The German, who won the Cholet time-trial, clocked a time of one hour three minutes and 50 seconds to give him a 21 second lead over Sastre's CSC Saxo Bank teammate Fabian Cancellara.

Kim Kirchen was just back in third while Briton David Millar, who had complained of being exhausted before the start, finished in an impressive fifth spot, a minute and a half behind Schumacher's time. But all the attention was off the stage winner and on the battle for overall race glory between Sastre and Evans, which was watched by Evans' mother, Helen Cocks, who had surprised her son by flying over from Australia to watch the stage.

However, the rigours of the mountains and keeping up with Sastre's CSC Saxo Bank team for the last three weeks, plus the pressure of the occasion, looked to get the better of Evans, 31. Bernard Kohl rode well to retain third, while the big loser in the stage was Frank Schleck, who started the stage second, but finished it in sixth. @Email:sports@thenational.ae TV: Dubai Sports, 3.35pm

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

THE BIO

Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.

Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.

Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.

Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.

 

 

'Spies in Disguise'

Director: Nick Bruno and Troy Quane

Stars: Will Smith, Tom Holland, Karen Gillan and Roshida Jones 

Rating: 4 out of 5 stars

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.”

Uefa Nations League: How it Works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.

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