The odds of a Djokovic triumph

In reference to the report Djokovic beats Rublev at Wimbledon to equal Federer's semi-final grand slam record (July 11) Prior to Wimbledon 2023 Novak has played 70 GS tournaments since 2005. He has won 23 GS titles, has 11 runner-up finishes, was a losing semifinalist 11 times, a losing quarterfinalist 9 times and eliminated 16 times before the quarterfinals.

46 semi-final appearances, 23 GS titles won. This means that the moment Novak reaches a GS semi-final he has a 50 per cent probability of going all the way to bag the title.

It gets better when he reaches the final because he has a 23/34 or a 68 per cent probability of winning the title. So the best time to ambush Novak and prevent him from winning is during the semi-finals, where he has an equal probability of winning or losing because once he reaches the championship round the odds are incredibly stacked in his favour.

Now if we drill down specifically to Wimbledon from 2005 to 2022 he has participated 17 times winning 7, losing in the final once, losing in the semi-finals three times, losing in the quarter-final two times and losing before the quarter-final 4 times. This means that the moment Djokovic reaches the semi-finals he has a 7/11 or a 64 per cent chance of winning the title. He is practically unbeatable once he reaches the final. where his odds of lifting the trophy become 11/12 or 92 per cent.

John Paul Pangilinan, Paranaque, Philippines

The surprise of snow in South Africa

With reference to the report People enjoy snow in Johannesburg for first time in more than a decade – in pictures (July 11): Snow is so special for us South Africans who are used to sunny winters (for the most part of the country), and it only falls on non-mountainous areas once in a few decades. Yesterday’s snowfall was much more than what we experienced in 2012, this amount of snow was last seen in Johannesburg in 1981.

Talita Coetzer, Dubai

Do superpowers have boundaries?

In reference to Laura O'Callaghan's report Joe Biden discusses cluster bombs for Ukraine in Downing Street talks with Rishi Sunak (July 10): It is entirely the US's business what they do. They are not answerable to the UK. America is a superpower. UK is a little island.

Judy Craemer, Knysna, Western Cape, South Africa

Good news for India and other countries that have progressed

With regard to Taniya Dutta's report UN praises 'remarkable' progress as 415 million Indians escape poverty (July 11): This was an interesting read and the progress that India has made in 15 years is laudable. It's also good to know that other countries such as China and Indonesia made great progress to reduce their poverty rates, as did Cambodia, Honduras, Morocco, Serbia and Vietnam. The goal should be for no one to ever go hungry.

K Ragavan, Bengaluru, India

LIST OF INVITEES

Shergo Kurdi (am)
Rayhan Thomas
Saud Al Sharee (am)
Min Woo Lee
Todd Clements
Matthew Jordan
AbdulRahman Al Mansour (am)
Matteo Manassero
Alfie Plant
Othman Al Mulla
Shaun Norris

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 PROFILE

Name: Almnssa

Started: August 2020

Founder: Areej Selmi

Based: Gaza

Sectors: Internet, e-commerce

Investments: Grants/private funding

Squid Game season two

Director: Hwang Dong-hyuk

Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

Main report

Ten years on, the UAE's stateless people reflect on how life has improved and on the challenges ahead

How to come clean about financial infidelity

Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.

Carol Glynn, founder of Conscious Finance Coaching