MELBOURNE // Kim Clijsters finally won her first Australian Open title and the fourth major of her career, wiping tears from her eyes after she beat Li Na 3-6, 6-3, 6-3 in the Australian Open final.
The result ended the outstanding run of Li, who became the first Chinese player to reach a grand slam singles final.
Li appeared to become upset with some of the Chinese spectators in the crowd in the third set, and asked the chair umpire to intervene. She later complained about the flashes from photographers at center court.
US Open champion Clijsters' win came in what is likely her last appearance at Melbourne Park - she said that 2011 could be her last full year on the tour.
After the match, though, she appeared to qualify that - maybe "full" year means a restricted schedule for next year.
Asked by a television interviewer if she would be back to defend her Australian Open title, she replied: "Yes, I would like to."
Clijsters, who has three US Open titles, lost the 2004 Australian Open final to Justine Henin and has been reached the semifinals four other times.
"I finally feel like you guys can call me Aussie Kim because I won the title," Clijsters said at the trophy presentations, referring to her crowd favoritism that came from her former relationship with Australian No. 1 Lleyton Hewitt.
"Even when things weren't going good, you guys were really supportive of me and I really appreciate it."
Looking at Li, Clijsters said: "I think we'll have a lot more tough battles to come, hopefully a few more Grand Slam finals would be nice."
It was the first night match for Li at Rod Laver Arena, where the cooler temperatures after the sun sets usually makes the hard court slower. But Melbourne warmed up late Saturday, making even the night conditions similar to what Li would have experienced in cooler day matches earlier in the tournament.
Li, with her courtside humor and bubbly personality, endeared herself to the fans here and around the world. Back home, she was a huge hit.
"The Chinese fans were prepared to express their feelings and shed their tears of excitement. We were just one step from victory," China Central Television announcer Tong Kexin said Saturday. CCTV predicted that about 15 million people watched the match live on its sports channel.
Li was at her joking best after her loss. "I think I played great tennis, but she played better than me," Li said "After the match, back to the locker room, I make joke, tennis should only play one set."
Clijsters led 4-2 in head-to-head matches before the match, but Li beat Clijsters in the Sydney International final two weeks ago after the Belgian player had led 5-0 in the opening set.
Li and Clijsters weren't into any mind games before the match, seen outside the dressing room doors joking and smiling with each other. Li seemed uncharacteristically nervous in her pre-match TV interview, though, and that translated on to the court.
Clijsters opened the match with an ace, winning the first game on four straight points, then breaking Li the same way for a 2-0 lead after just a few minutes.
But Li found her range and seemed to lose her nervousness in the third game, breaking Clijsters and then holding for 2-2.
The turnaround continued when Li saved two big break points, then broke Clijsters in the final game of the set. She set up two set points with a stinging forehand that Clijsters didn't bother to run for, then two points later stunned Clijsters with a crosscourt forehand to close out the first set in 38 minutes.
There were four straight service breaks to open the second set before Li held to lead 3-2. Then Clijsters held for the first time in four games to level the set at 3-3. Clijsters, with a backhand winner to the open court, broke Li in the next game to lead 4-3.
After that service break, Li went up to chair umpire Alison Lang of Britain and asked: "Can you tell the Chinese don't teach me how to play tennis." That was in reference to some people in the crowd yelling out - apparently exhorting her to "finish her," and "beat her," and later "calm down" in Chinese that seemed to be bothering Li
Li also snapped at her husband and coach, "stop shouting at me."
Clijsters, who dropped serve in four straight games from the end the first set, staged a remarkable turnaround, holding serve to open the deciding set and breaking Li's service to take a 2-0 lead, just as she had in the opening set.
The Belgian player went up 3-1 when Li again lost her service for the seventh time in the match, then held in the next to go up 4-1.
Serving for the match at 5-3, Clijsters finished as she started it, taking four points in a row and winning the title when Li's last forehand landed wide.
After walking back to her chair, Clijsters buried her head in a towel. Li also had tears in her eyes on the other side of the court.
Andy Murray will try to become the first British man in almost 75 years to win a Grand Slam singles title when he plays 2008 champion Novak Djokovic in the men's final Sunday.
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DUBAI WORLD CUP RACE CARD
6.30pm Meydan Classic Trial US$100,000 (Turf) 1,400m
7.05pm Handicap $135,000 (T) 1,400m
7.40pm UAE 2000 Guineas Group Three $250,000 (Dirt) 1,600m
8.15pm Dubai Sprint Listed Handicap $175,000 (T) 1,200m
8.50pm Al Maktoum Challenge Round-2 Group Two $450,000 (D) 1,900m
9.25pm Handicap $135,000 (T) 1,800m
10pm Handicap $135,000 (T) 1,400m
The National selections
6.30pm Well Of Wisdom
7.05pm Summrghand
7.40pm Laser Show
8.15pm Angel Alexander
8.50pm Benbatl
9.25pm Art Du Val
10pm: Beyond Reason
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books
If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).
Panipat
Director Ashutosh Gowariker
Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment
Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman
Rating 3 /5 stars
Key facilities
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- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
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- Disruption Lab and Research Centre for developing entrepreneurial skills
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Company Profile
Name: JustClean
Based: Kuwait with offices in other GCC countries
Launch year: 2016
Number of employees: 130
Sector: online laundry service
Funding: $12.9m from Kuwait-based Faith Capital Holding
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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Engine: 4.0-litre flat-six
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The specs
AT4 Ultimate, as tested
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Jordan cabinet changes
In
- Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
- Dr Bassam Samir Al Talhouni, Minister of Justice
- Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
- Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
- Falah Abdalla Al Ammoush, Minister of Public Works and Housing
- Basma Moussa Ishakat, Minister of Social Development
- Dr Ghazi Monawar Al Zein, Minister of Health
- Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
- Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth
Out
- Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
- Hala Noaman “Basiso Lattouf”, Minister of Social Development
- Dr Mahmud Yassin Al Sheyab, Minister of Health
- Yahya Moussa Kasbi, Minister of Public Works and Housing
- Nayef Hamidi Al Fayez, Minister of Environment
- Majd Mohamed Shoueika, Minister of Public Sector Development
- Khalid Moussa Al Huneifat, Minister of Agriculture
- Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
- Mounir Moussa Ouwais, Minister of Water and Agriculture
- Dr Azmi Mahmud Mohafaza, Minister of Education
- Mokarram Mustafa Al Kaysi, Minister of Youth
- Basma Mohamed Al Nousour, Minister of Culture
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
More from Neighbourhood Watch:
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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Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
