What comes to mind when you hear the name Volvo? Depending on where you hail from, you might be visualising a boxy 240 GL wagon with its battering-ram front and rear bumpers. Behind the wheel would be a hat-wearing pensioner puffing on a pipe while dressed in a tweed jacket with elbow patches.
But times have moved on since then – Volvo is no longer associated solely with fuddy-duddy drivers who have been enticed by the cars’ vault-like occupant protection levels. The Swedish marque now has an element of stylishness – and, dare I say it, even funkiness – about it. And despite the fact that China’s Geely has owned the company since 2010, its products still have a distinctly Scandinavian flavour.
But the Volvo I’m sampling today is a little extra-special. It’s the S60 Polestar, which is the fastest road car to date from the Gothenburg-based manufacturer.
Who or what is Polestar, I hear you ask? The quick answer is that it’s a motorsport specialist that has prepared all of Volvo’s race cars since 1996 (Volvo is highly active in motor racing across the globe).
The two firms extended their partnership from 2009 onwards as Polestar started carrying out engine optimisations on Volvo road cars, and the relationship was further strengthened in 2013 with the launch of the S60 Polestar – a go-faster offering that’s been given the full treatment. It has a tricked-up engine, suspension, brakes, wheels/tyres and interior.
So is Polestar Volvo’s answer to Mercedes-AMG and BMW’s M Division? Volvo and Polestar execs are quick to pour cold water on this notion, saying their offering was conceived to unleash its full performance envelope – which is sizeable – in all weather conditions. This was obviously a key criterion, given the climate in its home country.
The good news for us – and I promise you it is good news – is the S60 Polestar will launch in the Middle East in September, priced at a remarkably competitive Dh220,000, and that’s with all the trimmings.
So what do you get for the money? For starters, the 3.0L, six-cylinder turbo engine has been upgraded to eke out 344bhp and 500Nm, with a deep, throaty soundtrack provided by a pair of 3.5-inch tailpipes. The S60 Polestar isn’t bullet-fast, but 0 to 100kph in 4.9 seconds is pretty darn quick all the same, especially for a Volvo.
But it’s not just the magnitude of performance that counts, it’s the ease with which it can be laid down, even on a damp Ring Knutstorp, a twisty, gnarly little racetrack in the south of Sweden. Although only just over two kilometres long, there’s numerous elevation changes, blind crests and off-camber corners. Just the sort of place where a car with flaccid dynamics would be sorely exposed.
I expect the S60 Polestar to not fare particularly well here, especially as it weighs a lardy 1.8 tonnes and is derived from a donor car that’s hardly a class leader in terms of chassis excellence. But a hat tip is due to the Polestar crew here, because what they’ve achieved is little short of magic.
The addition of 80 per cent stiffer springs, race-derived Öhlins shock absorbers and 20-inch Polestar wheels has transformed the chassis into something that’s unrecognisable from the original. Chasing down the multiple Scandinavian touring car champion Thed Björk (who is piloting an identical car), I’m frankly quite alarmed at how resolutely the Polestar sticks to the damp tarmac, and how quickly we manage to circulate the perilous little track.
The S60 feels beautifully tied down, and the generous torque quota means there’s enough punch to scoot out of tight corners, with the Haldex all-wheel-drive system providing ample traction to ensure there isn’t any wheelspin or excessive stability-control intervention (I turned it off in any case).
Repeatedly hauling up the 1.8-tonne beast isn’t an issue either, because the six-piston Brembo callipers clamp down hard on the 371-millimetre ventilated discs, even after sustained hot laps.
Among the other tweaks the Polestar gets are a bespoke front spoiler/splitter, along with a new rear spoiler and diffuser, all designed to help the car stay planted at high speed.
All told, the S60 Polestar is a far more capable car than I imagined. And the price tag seems almost impossibly cheap for a vehicle with this level of performance, not to mention its generous interior space.
The only real gripes are an interior that looks a tad low-rent, and an annoyingly fiddly and time-consuming interface for controlling the infotainment system and car settings.
However, the biggest problem the company’s Middle East suits will encounter is getting the message out that this is a Volvo with the ability to put a sizeable grin on your face – if you take the opportunity to actually get behind the wheel and give it the beans. I suggest you do exactly that.
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Political flags or banners
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Bikes, skateboards or scooters
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
About Okadoc
Date started: Okadoc, 2018
Founder/CEO: Fodhil Benturquia
Based: Dubai, UAE
Sector: Healthcare
Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth
Funding stage: Series B fundraising round to conclude in February
Investors: Undisclosed
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
The%20specs
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The specs
Engine: 4.0-litre flat-six
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
Sweet%20Tooth
%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3EJim%20Mickle%3Cbr%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EChristian%20Convery%2C%20Nonso%20Anozie%2C%20Adeel%20Akhtar%2C%20Stefania%20LaVie%20Owen%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
Results
2pm: Maiden (PA) Dh 40,000 (Dirt) 1,200m, Winner: AF Thayer, Tadhg O’Shea (jockey), Ernst Oertel (trainer).
2.30pm: Maiden (PA) Dh 40,000 (D) 1,200m, Winner: AF Sahwa, Nathan Crosse, Mohamed Ramadan.
3pm: Handicap (PA) Dh 40,000 (D) 1,000m, Winner: AF Thobor, Szczepan Mazur, Ernst Oertel.
3.30pm: Handicap (PA) Dh 40,000 (D) 2,000m, Winner: AF Mezmar, Szczepan Mazur, Ernst Oertel.
4pm: Sheikh Hamdan bin Rashid Al Maktoum Cup presented by Longines (TB) Dh 200,000 (D) 1,700m, Winner: Galvanize, Nathan Cross, Doug Watson.
4.30pm: Handicap (PA) Dh 40,000 (D) 1,700m, Winner: Ajaj, Bernardo Pinheiro, Mohamed Daggash.
MATCH INFO
Al Jazira 3 (O Abdulrahman 43', Kenno 82', Mabkhout 90 4')
Al Ain 1 (Laba 39')
Red cards: Bandar Al Ahbabi (Al Ain)
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
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.”
More from Rashmee Roshan Lall
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
MATCH INFO
Borussia Dortmund 0
Bayern Munich 1 (Kimmich 43')
Man of the match: Joshua Kimmich (Bayern Munich)
HOW DO SIM CARD SCAMS WORK?
Sim swap frauds are a form of identity theft.
They involve criminals conning mobile phone operators into issuing them with replacement Sim cards, often by claiming their phone has been lost or stolen
They use the victim's personal details - obtained through criminal methods - to convince such companies of their identity.
The criminal can then access any online service that requires security codes to be sent to a user's mobile phone, such as banking services.