Evander Holyfield will aim to follow in George Foreman's steps by being a heavyweight champion at the age of 46.
Evander Holyfield will aim to follow in George Foreman's steps by being a heavyweight champion at the age of 46.

Holyfield to meet Valuev for WBA title



GENEVA // Evander Holyfield, at the age of 46, will seek to win back a major heavyweight title when he fights Russian giant Nikolai Valuev for the WBA crown next month. The fight will take place Dec 20 in the Hallenstadion in Zurich, Switzerland, arena management announced. Holyfield has not fought since losing an unanimous decision to the then WBO champ Sultan Ibragimov a year ago. The fighter from Atlanta known as the Real Deal has a 49-9-2 (win/lose/draw) career record and insists he wants to keep fighting until he regains the title again.

He also has been suffering from financial problems. Holyfield agreed in October to give his 10-year-old son a $100,000 college fund while facing the threat of possible jail time and an auction on his home. In the summer he failed to make three straight $3,000 monthly child-support payments. Holyfield last held a major heavyweight title after winning a decision over John Ruiz for the WBA belt in 2000, subsequently losing and then drawing a bout against the same opponent in further title fights in 2001.

He challenged Chris Byrd for the vacant IBF belt in 2002, losing a unanimous decision. The 7-foot, 330-pound Valuev once referred to as the Beast from the East but now preferring The Russian Giant won a unanimous decision over Ruiz in August to claim the vacant WBA crown. He told the Zurich tabloid Blick that he was excited to face Holyfield. "I'm taking this fight very seriously, said the fighter with 49-1 record and 34 knockouts. Holyfield is a strong opponent. Ten years ago I would not have dreamed of getting into the ring with this champion."

The fight will be the biggest in Zurich since 1971, when Muhammad Ali knocked out Juergen Blin of Germany in the 7th round. Holyfield's late bid for the title is not unprecedented. George Foreman was also aged 46 when he last defended the IBF heavyweight title in 1995. *AP

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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

Honeymoonish
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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.”

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Engine 4.0-litre twin-turbo V8

Transmission Seven-speed automatic

Power 510hp @ 5,500rpm

Torque 700Nm @ 1,750rpm

Fuel economy, combined 9.2L / 100km

The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

Company%20Profile
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List of alleged parties

 May 15 2020: PM and Carrie attend 'work meeting' with at
least 17 staff members

May 20 2020: PM and Carrie attend 'bring your own booze'
party

Nov 27 2020: PM gives speech at leaving do for his staff

Dec 10 2020: Staff party held by then-education secretary
Gavin Williamson

Dec 13 2020: PM and Carrie throw a flat party

Dec 14 2020: London mayor candidate Shaun Bailey holds staff party at Conservative
Party headquarters

Dec 15 2020: PM takes part in a staff quiz

Dec 18 2020: Downing Street Christmas party

Poacher
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