Jubilant Moroccan fans are dreaming of another World Cup miracle as their national side prepares to face defending champions France for a place in the tournament final.
The formidable Atlas Lions have already etched their names in the record books by overcoming international heavyweights Belgium, Spain and Portugal to become the first team from the Arab world to reach the semi-final stage.
They are looking for another ― but not their last ― giant-killing act as they aim to slay France and book a date with destiny in Doha with Lionel Messi's Argentina.
Morocco can 'make everyone happy'
Abdelilah El Amrani, a Moroccan fan who travelled to Qatar four days ago, believes his team can upset the odds again.
“It’s like a dream coming true. France is a tough team and they want to defend the title, but Morocco is an organised team in all matches. Morocco will make everyone happy tonight,” he said.
“The coach has put in place brilliant tactics and game strategy by changing the shape of the team. It’s like a miracle.”
He believes Morocco can put Africa and the Arab world on the footballing map by not only overcoming France, but becoming world champions on Sunday.
“We represent Arab and African nations. We want the title to put Africa's name beside the Europeans and South American nations who have won it.
Dubai resident Hicham Hansali, 48, has also flown to Qatar to soak up the carnival atmosphere.
“It is a legendary time for us. I wanted to play against France from day one of the tournament because they played attack and control the midfield, while our advantage is in the strong line of defence, which will reduce the danger coming from [Kylian] Mbappe," he said.
“Remember we only conceded one goal in all matches, which is impressive.”
French fans confident of success
Mohammed Moazim, 33, said Morocco hold no fears for Les Bleus, who are aiming to emulate the achievements of Pele's heralded Brazil of 1958 and 1962 by retaining the trophy.
“France are the champions and nobody can defeat us. I’m not afraid of Morocco and all eyes are on the final match against Argentina,” Mr Moazim said.
“Morocco is a good team but the champions shouldn’t be worried about any team [they] face in the knockout stage. We will win the title for the third time because we have a strong team.”
Adrien Roux, 34, is less assured of a France victory, but feels Didier Deschamps' men will reach the showpiece final again.
“It will be a difficult match. Morocco have the strongest defence and great players, but two of their players are out and we have a strong attack and midfield,” he said.
He believes France will face a tough task against an Argentina team backed by tens of thousands of supporters in Qatar if they do get past Morocco.
“We have a couple of thousand French fans here in Qatar while Argentina fans are everywhere,” he said.
Samuel Bakri, 40, feels the resilient Moroccans may push the French superstars all the way.
“Morocco have played very well and I think it will be either 2-2 or 3-3 and France will win on penalties,” he said.
“At the end it will be a strong and beautiful match to enjoy. If Morocco win then it would be good thing to me because they play beautiful soccer and defeated big teams. They play not only defensive as they have their own tactics.”
The crunch World Cup semi-final kicks off at 11pm, UAE time.
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.”
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday, February 8 v Kenya; Friday, February 9 v Canada; Sunday, February 11 v Nepal; Monday, February 12 v Oman; Wednesday, February 14 v Namibia; Thursday, February 15 final
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Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
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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
Director: Paul Weitz
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