Nico Rosberg's pole at Bahrain is the fifth of his career to equal the total his father, Keke, a former F1 champion, had in his career. Mark Thompson / Getty Images
Nico Rosberg's pole at Bahrain is the fifth of his career to equal the total his father, Keke, a former F1 champion, had in his career. Mark Thompson / Getty Images

Nico Rosberg pips Lewis Hamilton for Bahrain pole



Nico Rosberg planted his Mercedes-GP on pole position for Sunday's floodlit Bahrain Grand Prix after a last-lap error cost teammate Lewis Hamilton his chance of a pole position treble.

Rosberg, the Formula One championship leader, had been in Hamilton’s shadow throughout practice but struck when it mattered to secure his first pole since Monaco last May with a best lap of 1 minute, 33.185 seconds.

Hamilton, who won in Malaysia last weekend, had to settle for second on the Sakhir circuit grid.

“I have good memories of this track, winning the GP2 championship and starting my first race in F1. I enjoy coming here and again today, it’s suited me,” said Rosberg, who won the season-opener in Australia. “It’s a different challenge awaiting us for the race. Tyre degradation may be the main problem and difficulty, but I’m confident. I had some good runs yesterday on high fuel so I’m confident that I can stay ahead.”

Hamilton was trailing his teammate and ran wide on his final lap.

“You can’t always get it right and congratulations to Nico,” said the 2008 world champion. “He did a great job this weekend, he’s been improving and picking up his pace. He had a really good lap at the end. I made a mistake on my last lap, locked up and went straight on but generally I’m happy. I’m really proud of the team, for us to continue to keep moving forward and progressing as we are.”

Australian Daniel Ricciardo was third fastest for Red Bull Racing but carries a 10-place grid penalty from Malaysia, which moves up Finland’s Valtteri Bottas to take the slot for Williams.

“I’m really pleased with the performance. At the moment it’s the best anyone else can do,” said Ricciardo.

Mexican Sergio Perez, who did not start in Malaysia because of a software glitch, will join him on the second row in his Mercedes-powered Force India.

Red Bull’s world champion Sebastian Vettel qualified 11th, but will start 10th, after failing to make the final phase of qualifying for the second time in three races and complaining about the gear shifts.

“They [Mercedes] are out of reach. This track suits them here,” the German said. “Hopefully we can do a good job and rescue some points this weekend.

“Things are going on in the background which haven’t helped and we haven’t done many laps here.”

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Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

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.”

Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months
German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

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UEFA CHAMPIONS LEAGUE FIXTURES

All kick-off times 10.45pm UAE ( 4 GMT) unless stated

Tuesday
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Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
  • Stay invested: Time in the market, not timing the market, is critical to long-term gains.
  • Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
  • Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
 
 
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.