This is a computer generated image showing what the Bloodhound speed record car will look like. The Bloodhound is a British supercar designed to break the world land speed record has been unveiled and if it succeeds, the driver  Andy Green will be the first to drive through the 1000 mph barrier.
This is a computer generated image showing what the Bloodhound speed record car will look like. The Bloodhound is a British supercar designed to break the world land speed record has been unveiled andShow more

The percentage game



Impossible does not seem to register in the vocabulary of Britain's Richard Noble. Between 1983 and 1997, he held the world land speed record, hitting a top speed of 633mph (1,013kph) during those years. Then he silenced the doubters further by heading a project to go supersonic for the first time. And the goal was duly achieved with Wing Commander Andy Green in the cockpit, with Green registering a top speed of 763mph (1,227kph) in Nevada in the United States 12 years ago.

This time, Noble and Green are teaming up once again to hit the 1,000mph mark. And to bring that speed into context - it is the equivalent of the car, Bloodhound SSC, travelling faster than a bullet fired from a handgun. Powering the car will be the engine from the Eurojet fighter with a rocket bolted on top for an extra boost. And what makes the immensely dangerous record attempt even more remarkable is that it all came about by accident.

Noble explained: "I had a meeting with Lord Drayson [the science minister in Britain] while he was working at the Ministry of Defence. He had heard about plans by the late American explorer Steve Fossett to break our land speed record. So we all thought we better get a defence together. "We went to Lord Drayson with the idea of trying to get the use of the Eurojet 200 engine as we'd heard one could soon be available at the end of its testing runs.

"We thought we'd done our best to persuade him but he completely turned things around. He said he was growing increasingly worried about the state of engineering in the UK. He said we needed a truly iconic project so he said let's go for the 1,000mph mark as a once-in-a-lifetime opportunity." And so 18 months ago the project was born. By March, the design of the car is set to be fully signed off, the building will begin in May and the team hope to get the car out on the UK runways at the start of 2010.

First there are plans to go for the current land speed record with an attempt at 800mph, then 900mph before the final stab at the 1,000mph mark in 2011. "Well, that's the plan but who knows whether it will happen in that timeline," he said. "These projects can be notoriously difficult, traumatic in fact." Part of the problem is that it is a completely private project that needs as much as £10 million (Dh 52.7 million) to fund it, money you would have thought was relatively impossible to raise in the current financial climate.

But Noble, an eternal optimist, believes a recession is the very best time to get such a project off the ground. "We have to grow 400 per cent this year and I'm confident we'll do it," he said. "Actually during the good times it's a nightmare as nobody wants to change what they're backing. In fact, Britain's reluctant for change. But in times like this, it's actually more beneficial for us. Places have more capacity for us to use their facilities plus there tend to be more designers available with time we can use."

As project leader, Noble makes all the decisions over the task and has a 35-strong team working on it but he readily admits it is second best to the role being undertaken by Green. "I'd love to drive it but the reality is that you can't always do these things," he said. "It's a big mistake to do all these things yourself. I really wanted to drive Thrust [the car in which Green broke the land-speed record] but I realised that the British establishment wasn't going to support that at my age or at least it was going to be enormously difficult to raise the funds.

"But while driving is the best thing, this is the next best. It can be enormously inspiring. "You're trying to get a team working at the same time as getting funding by telling people you're going to be as big as The Beatles, or something like that." The project is operated from the team's headquarters in Bristol at the former home of Concorde. All the team's plans are available to see on their website (www.bloodhoundssc.com) from the preparation to the record attempt and the doors are open for visitors to see the project in action on a daily basis.

A supporters' club is well under way and already 1,000 members have signed up in the opening few weeks. But interest in the land speed record is nothing new. The Thrust attempt got 3.5 million people visiting the website, quite an achievement 12 years ago, and Noble expects millions more this time around. But what is the lure for the public exactly? "Part of it's because they probably think we're bonkers, but we think the rest of the world is bonkers," he added. "But I think the big appeal is that most people have a car and basically all we're doing is driving a car in a straight line ... very fast. And most members of the public think they could do that.

"It's not the same with going into space for example and most people don't think they could end up being an astronaut. But they feel this is something they could do and I think that's the key to why people love it. And in addition to all that, we have no limitations like they do in all parts of motorsport like F1. We just aim to go faster and faster and faster - that's it." Noble laughs and adds that it is not exactly rocket science but therein lies the key to the record. A potent rocket will be strapped onto the back of the car in the Nevada desert.

And to break the record, the car has to travel in both directions at top speed - the record is taken from the average speed of the two runs - and that involves changing the rocket on top at the turnaround which, at 800 lb, is not exactly simplistic. "That's an issue we have to work on, but it's achievable," he said. The other major obstacle is safety and one that Noble, as a former driver and with Green's life in his hands, will not take lightly.

"That is absolutely paramount and it's not always easy," he said. "Sure, this is very dangerous as it's never been done before and we're going into the unknown. "And there will be times when there will be pressure from the media and the sponsors to just go for it. But if the car and the conditions aren't spot on, I'll happily pack everything up and we'll go back to the drawing board. You can't mess about with safety."

However, despite describing the project as the "most exciting thing on earth", Noble insists breaking the 1,000mph is only the tertiary target of the entire project. "It's bigger than that," he explained. "The number one goal is to create a generation of engineers, number two is to provide an iconic project for students [Bloodhound is working closely with schools across the UK], number three is the 1,000mph mark and number four is pure and simple publicity.

"We're bidding to save engineering which is dying in this country. It was massive in the 1960s and 1970s but it's dying with a shortage of iconic projects. But the recession's a time when the industry can come flying back." However, Noble and his team have other obstacles to overcome, most notably their rivals for the land-speed record. The car Fossett planned to break the record in, Spirit of America, is now up for sale, then there's North American Eagle, which looks capable of the 800mph mark at the very least and then there's Jetblack, an Australian team bidding for the 1,000mph mark.

"Jetblack looks the most serious opposition but it's great to have rivals," said Noble. "It drives me and the team forward and sharpens us even more in what we're doing." The goal is simple - to raise the speed record by 31 per cent, the greatest hike in the history of land-speed records and something which Noble points out "has never been done before". With his very positive outlook, you cannot help but buy into it what he is doing. It remains to be seen whether 2011 will be his and Bloodhound's year. mmajendie@thenational.ae

The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

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.”

Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

The biog

Name: Abeer Al Bah

Born: 1972

Husband: Emirati lawyer Salem Bin Sahoo, since 1992

Children: Soud, born 1993, lawyer; Obaid, born 1994, deceased; four other boys and one girl, three months old

Education: BA in Elementary Education, worked for five years in a Dubai school

 

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%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%203.0-litre%20twin-turbo%20V6%20and%20electric%20motor%3Cbr%3E%3Cstrong%3EMax%20power%3A%3C%2Fstrong%3E%20700hp%20at%207%2C500rpm%3Cbr%3E%3Cstrong%3EMax%20torque%3A%3C%2Fstrong%3E%20720Nm%20at%202%2C250rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20Eight-speed%20dual-clutch%20auto%3Cbr%3E%3Cstrong%3E0-100km%2Fh%3A%3C%2Fstrong%3E%203.0sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%20%3C%2Fstrong%3E330kph%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh1.14%20million%20(%24311%2C000)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A

Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes. 
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com

INFO
Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
RESULTS

Catchweight 82kg
Piotr Kuberski (POL) beat Ahmed Saeb (IRQ) by decision.

Women’s bantamweight
Corinne Laframboise (CAN) beat Cornelia Holm (SWE) by unanimous decision.

Welterweight
Omar Hussein (PAL) beat Vitalii Stoian (UKR) by unanimous decision.

Welterweight
Josh Togo (LEB) beat Ali Dyusenov (UZB) by unanimous decision.

Flyweight
Isaac Pimentel (BRA) beat Delfin Nawen (PHI) TKO round-3.

Catchweight 80kg​​​​​​​
Seb Eubank (GBR) beat Emad Hanbali (SYR) KO round 1.

Lightweight
Mohammad Yahya (UAE) beat Ramadan Noaman (EGY) TKO round 2.

Lightweight
Alan Omer (GER) beat Reydon Romero (PHI) submission 1.

Welterweight
Juho Valamaa (FIN) beat Ahmed Labban (LEB) by unanimous decision.

Featherweight
Elias Boudegzdame (ALG) beat Austin Arnett (USA) by unanimous decision.

Super heavyweight
Maciej Sosnowski (POL) beat Ibrahim El Sawi (EGY) by submission round 1.

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
'Gold'

Director:Anthony Hayes

Stars:Zaf Efron, Anthony Hayes

Rating:3/5

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EPurpl%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EKarl%20Naim%2C%20Wissam%20Ghorra%2C%20Jean-Marie%20Khoueir%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EHub71%20in%20Abu%20Dhabi%20and%20Beirut%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2021%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E12%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%242%20million%26nbsp%3B%3C%2Fp%3E%0A
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The specs

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

Company profile

Company name: Dharma

Date started: 2018

Founders: Charaf El Mansouri, Nisma Benani, Leah Howe

Based: Abu Dhabi

Sector: TravelTech

Funding stage: Pre-series A 

Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
​​​​​​​

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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