Mohammed Al Shateri enjoyed working with the Australian Grand Prix marshals in Melbourne.
Mohammed Al Shateri enjoyed working with the Australian Grand Prix marshals in Melbourne.

The drive to continue the progress of the Abu Dhabi Grand Prix



Long before Jenson Button and the rest of the Formula One field positioned their cars on the grid ahead of the Australian Grand Prix yesterday, a Holden Commodore had caught the eye while circumnavigating Albert Park during the V8 Supercar Challenge.

The car, driven by the Australian Michael Patrizi, has for the past four days competed in Melbourne with "F1 + V8 Supercars, Abu Dhabi 4th Nov" running in bold face lettering down its side.

According to Peter Baumgartner, the chief commercial officer of Etihad Airways, which also features prominent branding on the car, the signage is a means of "accelerating momentum" for the UAE capital's race weekend later this year.

This season, Abu Dhabi will host its fourth grand prix event and for the first time the race programme will feature V8 Supercars as a support event. The touring car series has held rounds in the capital before, but never on the same weekend as F1.

It will also be the first time championship points are on offer at a V8 race that shares a bill with a grand prix - the race at Albert Park is a non-Championship event - so organisers atYas Marina Circuit are understandably intent on ensuring everything runs flawlessly.

Richard Cregan, the chief executive officer at Yas, has been in Melbourne holding discussions and meetings with V8 officials, while a five-person delegation from the Emirates' Automobile and Touring Club (ATCUAE) has travelled to observe how the V8s and F1 coexist on the same race programme.

"Last year, the Confederation of Australian Motorsport (Cams) sent a four-man delegation to the Abu Dhabi Grand Prix as part of a working relationship between ourselves and Cams," said Matthew Norman, the motorsport manager of the ATCUAE, the sport's governing body in the Emirates.

"It is effectively a marshal exchange programme and the whole idea was, as V8s were running this weekend and we will also have V8s at our grand prix, to come here and see how everything runs. That was the basis of our mission."

The four men who joined Norman on his quest in Australia were Chris Carruthers, Sean Bradley, Alan Rooke and Mohammed Al Shateri.

"Chris is our communications chief, Sean works with me looking over the support pits and Alan is our chief of recovery," Norman said. "Mohammed is a post chief at the Abu Dhabi Grand Prix and, as well as being one of the main Emiratis involved with us, is very pro-active and will hopefully help us get more locals involved in UAE motorsport."

Cregan said the ATCUAE's presence in Melbourne this weekend can only be positive for Yas Marina.

"It's super to see," he said. "They are clearly taking it very seriously if they are willing to send people all the way down here to look at how the V8s and the Formula One work together."

Bradley, the support pit chief, feels the experience had been "fantastic".

"It's great to be involved and lovely to be able to fly the flag of our adopted homeland," the Englishman said. "Hopefully, the experience we get here and the relationships we build will help make the grands prix in Abu Dhabi even better."

Al Shateri's first taste of working with Formula One came at the 2010 race in the UAE and it proved an experience he enjoyed so much he has since dedicated many hours to race meetings and briefings.

He has long-term ambitions of becoming Yas Marina's Clerk of the Course, the highest level of circuit safety official, and hopes to attend "as many races as I can" this season.

"I was always watching the F1 on TV and thinking 'marshalling, marshalling, what's it all about?" he said, dressed in his orange marshal suit.

"When I entered the world of marshalling and worked at a race it was like a different planet. You are actually affecting the race because you are guiding the drivers and ensuring their safety in the race. It's a very important job and it's tiring, but it is very enjoyable."

His first deployment this weekend saw him accompany an Albert Park post chief to Turn 13 for Formula Ford practice on Friday morning. Heavy rains threatened to wash out the day's many other practice sessions, but the 24 year old helped clear the water from the track and then observed the V8s, touring cars, Porsche Carrera Cup and, finally, Formula One in action.

"Wow, the rain was heavy," Al Shateri said, laughing. "Working in the wet was a new experience for me. Obviously rain makes for a very difficult situation for racing, so it was tough, but very interesting. I feel I learnt a lot."

Like a fireman or a police officer, one would imagine a race marshal would hope for quiet, boring afternoons, but Al Shateri refutes such claims.

"You know, as a marshal you never get bored because it's the rules that you must always be aware of exactly what is going on: who is first, who is last, everything," he said.

"But I would rather have a busy day with lots of cars spinning and sliding; I think every marshal would say the same. We don't want anyone to get hurt, but we want to be involved."

The civil engineer got his wish on Saturday when he was positioned at Turn 2 and Fernando Alonso slid into the nearby gravel trap during F1 qualifying. Ferrari's Spaniard wanted the race marshals to help move the stricken car back on to the asphalt, but, as Al Shateri explained, "the car is too hot and Race Control ordered us not to".

Instead, Alonso left the incident irate on the back of a motorbike.

"Everything is a learning experience," Al Shateri said. "You learn from these situations. The international experience offers a very different challenge, like the weather, like communication. You learn so much in terms of managing a race. Now I look forward to putting what I have learnt into action when I get back to the UAE."

@ For more on the AUSTRALIAN GRAND PRIX visit thenational.ae/topics

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.”

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Astra%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202022%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAbdallah%20Abu%20Sheikh%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20technology%20investment%20and%20development%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%24500m%3C%2Fp%3E%0A
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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

The specs

Engine: 2.0-litre 4-cyl

Power: 153hp at 6,000rpm

Torque: 200Nm at 4,000rpm

Transmission: 6-speed auto

Price: Dh99,000

On sale: now

MATCH INFO

England 241-3 (20 ovs)

Malan 130 no, Morgan 91

New Zealand 165 all out (16.5ovs)

Southee 39, Parkinson 4-47

England win by 76 runs

Series level at 2-2

MATCH INFO

Barcelona 2
Suarez (10'), Messi (52')

Real Madrid 2
Ronaldo (14'), Bale (72')

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
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Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

Small%20Things%20Like%20These
%3Cp%3EDirector%3A%20Tim%20Mielants%3Cbr%3ECast%3A%20Cillian%20Murphy%2C%20Emily%20Watson%2C%20Eileen%20Walsh%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800

SPECS

Nissan 370z Nismo

Engine: 3.7-litre V6

Transmission: seven-speed automatic

Power: 363hp

Torque: 560Nm

Price: Dh184,500

The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

The bio

Job: Coder, website designer and chief executive, Trinet solutions

School: Year 8 pupil at Elite English School in Abu Hail, Deira

Role Models: Mark Zuckerberg and Elon Musk

Dream City: San Francisco

Hometown: Dubai

City of birth: Thiruvilla, Kerala

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

The BIO:

He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal

He ascended Mount Everest the next year from the more treacherous north Tibetan side

By 2015, he had completed the Explorers Grand Slam

Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border

He carries dried camel meat, dried dates and a wheat mixture for the final summit push

His new goal is to climb 14 peaks that are more than 8,000 metres above sea level

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.8-litre%204-cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E190hp%20at%205%2C200rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%20from%201%2C800-5%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%206.7L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh111%2C195%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A