From polling booth to pit stop, Turkmenistan's leader is always a winner



Despite deciding to enter only at the last minute, Gurbanguly Berdimuhamedow, the president of Turkmenistan, has emerged as the victor in his country's first car race.

President Berdimuhamedow, 54, made an impromptu decision to enter the time trial after arriving to watch the race in the capital Ashgabat in his personal green Bugatti.

However the president, who won re-election in February with 97 per cent of the vote, chose to race instead in a Turkish built Volkicar and emerged as the fastest man on the track.

After the race, authorities said that the winning car would be given pride of place in Turkmenistan's national sports museum.

Twitter twits

Twitter users have expressed surprise at the news that the sinking of the passenger liner Titanic actually happened and was not just a movie.

With James Cameron releasing a 3D version of his Oscar winning blockbuster to coincide with the 100th anniversary of the sinking, Twitter feeds have been buzzing with the revelation that the RMS Titanic was a real ship that sank with massive loss of life in April 1912.

One user of the social networking site tweeted: "I never knew the titanic (sic) was real:/thought it was just another movie I haven't seen yet."

Another wrote: "Is it bad that I didn't know the titanic was real? Always thought it was just a film."

A user called "Mr Dragon Slayer" tweeted: "I'm never going on a cruise again."

Detective novel

Police forensic experts have saved the "lost" manuscript of a novel written by a blind woman.

Trish Vickers had written the book in longhand, but was shattered when told that the last 26 pages were blank because her pen had run out of ink without her knowing.

Forensic officers in Dorset, England, gave up lunch breaks for five months to restore the lost words by studying the indentations on the paper. Ms Vickers, 59, is now able to send the manuscript to her publisher and said:"I have always been interested in writing, I have one of those strange imaginations that runs riot. The police were brilliant and I can't thank them enough."

Welcome to Springfield

One of the greatest mysteries in television has been solved with the revelation that the hometown of the Simpsons' family is in Oregon. Matt Groening, the creator of The Simpsons, had never divulged the location of the series, and with 38 locations called Springfield in the USA, it had always been the subject of speculation.

Now Groening has admitted it was called after Springfield, Oregon, next door to his hometown of Portland.

In an interview with Smithsonian magazine, he also revealed that he grew up in Evergreen Terrace, the same street as the family home of Homer, Marge, Bart, Lisa and Maggie.

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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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MATCH INFO

Uefa Champions League, last 16, first leg

Tottenham Hotspur v Borussia Dortmund, midnight (Thursday), BeIN Sports

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Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
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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.”

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5