The biggest rivalry of the Formula One season might be found on the same team, with former world champions Fernando Alonso and Kimi Raikkonen racing with and against each other for Ferrari.
Both have pledged to work together, although their competitive instincts may take over sooner rather than later.
Raikkonen’s return to Ferrari surprised many observers. He quit the team on bad terms after the 2009 season, despite winning the F1 title two years earlier. He can match Alonso in terms of driving ability, but Alonso has been Ferrari’s No 1 since Raikkonen left.
“There is a lot of talk outside about problems, but inside the team we have a very good feeling,” Raikkonen said. “It doesn’t matter who is your teammate. But for sure we have respect for each other and obviously we will both try to come out on top.”
Alonso, the 2005 and 06 champion, has won 32 races, compared to 20 for the 34-year-old Raikkonen, and he insists he is committed to the greater cause of knocking Red Bull Racing driver Sebastian Vettel off his perch.
“We will follow wherever the team priorities lie and try to do our best to win both championships,” said the 32-year-old Alonso, who has finished second to Vettel in three of the past four championships. “We need to work in perfect harmony and follow what the team priority is.”
It remains to be seen what would happen if they get team orders and one is asked to let the other pass.
And with Vettel only 26 as he bids for a fifth straight title, time is running out for the others to clinch another one.
One of the key questions is, if Raikkonen starts better in the first few races – the Finnish driver won the season-opening Australian Grand Prix last year – how will Alonso, and Ferrari, respond?
Former teammate Felipe Massa was always in Alonso’s shadow. Not so now, and it should be remembered that the Spanish driver also has raw wounds.
His relationship with Ferrari was tense last year, and he was forced to publicly declare his commitment to the team before the Belgian Grand Prix following an internal rift. It stemmed from sarcastic comments he made about Ferrari’s underperforming car after the Hungarian Grand Prix, leading to a stern rebuke from team principal Stefano Domenicalli.
Ferrari’s terrible inconsistency last season didn’t help matters. Despite making a bright start, during which he won two of the first five GPs, Alonso failed to qualify higher than third for the whole campaign – and managed to do that only four times.
“Everyone is expecting a lot,” Alonso said. “We need to deliver.”
There was some good to come out of Vettel’s total dominance, however.
With the last few races relatively meaningless since Vettel was already out of sight, Ferrari could focus on developing this year’s car and thus gained some valuable time over its rivals.
“Our start on this year’s car was perhaps later than others,” Red Bull team principal Christian Horner said recently.
Rule changes this season have introduced new 1.6-liter V6 turbo hybrid engines with extensive energy-recovery systems. That could hurt Red Bull, which struggled badly in pre-season testing, much to Horner's frustration.
“We have to be optimistic,” Raikkonen said. “We’re in a changeable time now and we have many things coming in F1 with a big regulations change, but I think we are quite well prepared.”
Melbourne will be the first indicator of whether this unexpected partnership will revive the team’s fortunes.
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Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
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.
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
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.”
Awar Qalb
Director: Jamal Salem
Starring: Abdulla Zaid, Joma Ali, Neven Madi and Khadija Sleiman
Two stars
GRAN%20TURISMO
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LA LIGA FIXTURES
Friday (UAE kick-off times)
Real Sociedad v Leganes (midnight)
Saturday
Alaves v Real Valladolid (4pm)
Valencia v Granada (7pm)
Eibar v Real Madrid (9.30pm)
Barcelona v Celta Vigo (midnight)
Sunday
Real Mallorca v Villarreal (3pm)
Athletic Bilbao v Levante (5pm)
Atletico Madrid v Espanyol (7pm)
Getafe v Osasuna (9.30pm)
Real Betis v Sevilla (midnight)
The biog
Name: Fareed Lafta
Age: 40
From: Baghdad, Iraq
Mission: Promote world peace
Favourite poet: Al Mutanabbi
Role models: His parents
BACK%20TO%20ALEXANDRIA
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A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2)
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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%20specs
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million