Swiss teen Belinda Bencic outlasted Simona Halep to win Sunday’s WTA Canadian Open final when the Romanian second seed retired trailing 7-6 (7/5), 6-7 (4/7), 3-0.
Bencic, who upset world No 1 Serena Williams in the semi-finals, broke twice to open the third set before the effort of battling in extreme heat and humidity proved more than Halep could take.
The Swiss 18-year-old has won 21 of her last 25 matches and defeated four top-10 foes this week, improving to 6-1 this year against such high-ranked rivals.
“I don’t think I’m so good at speeches yet,” Bencic said. “But first I want to congratulate Simona on a great week, and my mom, my dad and my team.
“Even if I lost today it would’ve been an amazing experience.”
It was the second career WTA crown for Bencic, whose first came in June at Eastbourne, and it capped an impressive week in which she defeated six grand slam finalists – Eugenie Bouchard, Caroline Wozniacki, Sabine Lisicki, Ana Ivanovic, Halep and Williams, winner of the past four grand slam events in a row.
Bencic will jump to 12th in the world rankings after starting the week 20th, improving her position for the US Open, the year’s final grand slam event that starts August 31 in New York.
Halep and Bencic exchanged breaks over the first five games of the match before Bencic held for a 4-2 edge.
The 18-year-old double faulted to surrender an equalising break in the eighth game as the two battled into the tie-breaker.
Halep, who had her left leg treated in the final changeover before the tie-breaker, seized a 4-1 lead but Bencic fought back to win six of the last seven points to claim the first set, the last when Halep netted a forehand.
After an early exchange of breaks in the second set, Bencic broke for a 4-2 lead and Halep, taking treatment for the extreme heat at humidity, seemed near the end.
But she broke back to 4-3 and answered when Bencic broke for a 5-3 edge, breaking back again at love when the Swiss was serving for the match to pull within 5-4.
Halep held and broke again for a 6-5 lead and then it was her turn to serve for the set, but Bencic broke back to force the second tie-breaker.
Winning six points of seven, Halep seized a 6-2 edge and rallied from a weak stretch for the third match in a row to level matters.
But Halep, who beat Bencic in straight sets at Wimbledon a year ago in their only prior meeting, did not have a second wind and Bencic dominated her twice in service games before Halep called it quits, only her fourth loss in 32 hardcourt starts in 2015.
“Sorry I couldn’t finish, I fought as hard as I could,” Halep said.
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Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Suggested picnic spots
Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes
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The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
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Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
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.”
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