Tomas Berdych of Czech Republic returns the ball to Sergiy Stakhovsky of Ukraine at the Dubai Tennis Championships on Wednesday, February 26, 2014. Saleh Salem / Reuters
Tomas Berdych of Czech Republic returns the ball to Sergiy Stakhovsky of Ukraine at the Dubai Tennis Championships on Wednesday, February 26, 2014. Saleh Salem / Reuters

Tomas Berdych closes in on missing glory as top 10 player



DUBAI // Tomas Berdych's determined journey into the quarter-finals of the Dubai Duty Free Tennis Championships has enhanced his chances of reaching the final for a second successive year - but he has a clear target in mind.

The world No 6 from the Czech Republic is the only top 10 player not to have won a title last year, although an overwhelming 6-2, 6-1 victory over Sergiy Stakhovsky hinted how his chances of remedying that early this year are improving.

Berdych has lost only 10 games in four sets in Dubai, his steep serve and fierce forehands from many positions almost always imposing, and the win was his 13th in 14 matches.

Although Stakhovsky, conqueror of Roger Federer at Wimbledon, attempted to mix things up with occasional drops and increasingly frequent serve-volleys, he did not get the ingredients in the right proportions and appeared increasingly fatalistic about the outcome.

The Ukrainian’s only glimpse of success came with a surprising break-back to 2-3 when Berdych seemed to suffer from bizarrely negative visualisation after a Hawkeye appeal.

Even though that proved successful – showing that a forehand drive called out had comfortably caught the line – Berdych unaccountably missed with his next two forehands when he was not under undue pressure.

However, he dismissed most of Stakhovsky’s attempts to disrupt his rhythm, and with the disappearance of the second-seeded Juan Martin Del Potro from his half of the draw, he undoubtedly hopes to survive until Saturday’s showdown again.

But Berdych was far from satisfied.

“I am glad I am keeping a high level, as consistency was always the quality I wanted to bring to my game,” he said. “But the question of my first serve stats – I am not afraid to call it a disaster.”

This self-critical response to the congratulations offered for his losing only five points on his first serves so far this tournament, omitted the fact that only 37 percent of them in this match had actually landed in.

“It’s not a nice number,” Berdych said bluntly. “That will be my focus for the next match.”

That will be against Jo-Wilfried Tsonga, the fifth-seeded Frenchman, who rushed from contesting the final in Marseille on Sunday to be here, and was therefore particularly pleased to have received a day's rest, because Nikolay Davydenko, the former world No 3 from Russia, withdrew with a rib injury.

Racecard
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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 
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A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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
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
The specs

Engine: Four electric motors, one at each wheel

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RESULTS
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Profile

Company name: Marefa Digital

Based: Dubai Multi Commodities Centre

Number of employees: seven

Sector: e-learning

Funding stage: Pre-seed funding of Dh1.5m in 2017 and an initial seed round of Dh2m in 2019

Investors: Friends and family 

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

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.”

The specs

Engine: 3-litre twin-turbo V6

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