France are “ready for everything” Wednesday’s World Cup semi-final against Morocco will throw at them, including an anticipated hostile atmosphere, according to captain Hugo Lloris.
The world champions sit two matches from becoming the first team in 60 years to successfully defend the trophy, but must first get past a spirited Moroccan side who have continued to make history in Qatar.
The North Africans are the first from their continent to reach a World Cup semi-final, and the only Arab country to do so. Also, they are unbeaten in the tournament in five matches, with impressive wins against Belgium, Spain – on penalties – and Portugal.
On Wednesday, at Al Bayt Stadium, Morocco are expected to have at least 20,000 fans there to support them – something Lloris says France will be well prepared for.
“They have beaten Belgium, Spain and Portugal and finished first in a very tough group – that tells you they are a quality side and will be tough opponents,” Lloris told reporters in Doha on Tuesday. “It will be a hostile atmosphere inside the stadium, but we are ready for anything.
“We have to show we are ready to raise the level and step up to the plate. We will need to be at the top of our game.”
Lloris, who in the 2-1 quarter-final victory against England became his country’s all-time leading appearance maker (143 caps), knows the pressure is on France to reach a second successive global final.
“In the preparation you need to remain calm and focused,” the goalkeeper said. “But there are no secrets. We are going to have to perform. That comes from working hard together, being mentally strong and scoring more goals than your opponents. That is what football comes down to.
“It is going to be a raucous atmosphere, tough to concentrate, but we have to remain focused and be very precise in terms of our tactical discussions before and during the match.
“We are all very excited and looking forward to representing our country as well as we can. We need to ensure we are patient, but at the same time go for it and try to break them down as early as possible in the match, while staying balanced to avoid being hit on the counter-attack.”
On the threat posed by a defiant Morocco side, Lloris added: “It is a unique opportunity for both sides to get to the final. Obviously, it is already a success for Morocco, but believe me, they won't want to stop here. They want to become even more of a hero for their country.
“We prepare to respond to the demands of a semi-final of a World Cup – it doesn't matter the opponent. We try to put all our strength into this game to make sure we do not have any regrets.”
England 1 France 2: Player ratings
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Saudi Arabia Al Muwallad 63’
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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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Day 3, Dubai Test: At a glance
Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.
Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.
The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
LAST-16 FIXTURES
Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi
Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi
Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi