Magical World Cup as Messi and Argentina triumph in Doha final

It was an incredible party that nobody in the Middle East wanted to end.

After a record-breaking 172 goals in 64 games, involving 32 teams across 28 thrilling days, it was time to say a fond farewell to Qatar World Cup 2022 on Sunday.

Lionel Messi wrote a fairytale ending by inspiring Argentina to an enthralling penalty shoot-out win over France, for whom Kylian Mbappe scored a remarkable hat-trick to make it 3-3 after extra time.

But even after the final ball was kicked, and the final two guests had departed, it was clear the memories forged on and off the pitch would last.

A tournament that started tentatively had sprung into life when the Green Falcons of Saudi Arabia brought Argentina crashing to earth in the first round of group stage fixtures.

It was the South American side, of course, who would soar into the final and end up with the World Cup.

It was a football festival with no shortage of drama.

Lionel Messi's quest for World Cup glory, Cristiano Ronaldo's fall from grace and Morocco's magnificent march into the record books were among the stories that made this another engrossing chapter in the history of the World Cup.

As good as the action on the pitch was, it was arguably the fans who stole the show. They turned up their droves, full of passion but in good spirits throughout.

Supporters from all over the world filled the narrow streets of Souq Waqif on match days to rejoice over famous victories and commiserate after heartbreaking defeat.

From the sea of blue and white army representing Argentina, to the rhythmic beat of Senegalese drums, Doha was where nations were united by the power of sport.

That unity was on display during the third-place play-off between Morocco and Croatia, when football fan Souheil Adra, 46, dropped to one knee and delivered a marriage proposal to Nisrine Kawa in the stadium.

She said yes, and the decision did not even need to be reviewed by VAR.

The result of the match, a 2-1 win for Croatia, mattered little to them or the thousands of Morocco fans so proud of their sides historic run to the semi-finals.

Hiba El Adouli, from Morocco, and Jordanian Saad Al Zarb were cheering the Arab team on. Patrick Ryan / The National
Not everyone was supporting the underdogs, including David Rogynian, from Russia who always backs France. Patrick Ryan / The National
Oukaima Laouhidi, another Moroccan in Dubai was hopeful of a spot in the final. Patrick Ryan / The National
Imad Yousef, Syrian, and Noha Kari, from Morocco said the team has taught millions about believing in hope. Patrick Ryan / The National
Matthew Madanat, Jordanian joined the hordes of Morocco supporters during the game against France. Patrick Ryan / The National
Ranim Hamed, is Palestinian, and Naamah Tawil, is Lebanese but on Wednesday night they were both supporting Morocco. Patrick Ryan / The National

“I’m thankful for what Morocco has achieved in the World Cup. We are now part of World Cup history,” said Morocco fan Rachid Bellaziz.

The World Cup showed all that is good about the region as Qatar opened its arms to the world in a show of Arabic hospitality.

The event left its mark in the Emirates, too, with fan zones across Dubai packed with cheering spectators eager to be part of the action.

Large numbers of Argentina fans — who greatly outnumbered the French contingent — had arrived at Lusail Stadium several hours before kick-off on Sunday, waving flags, holding placards and full of song.

They believed it was Messi's destiny in Doha to join Diego Maradona in lifting the World Cup aloft. It was the only trophy to elude him during his glittering career. But now the wait is over.

Many had remarkable tales about the great lengths they had gone to to be in Doha, hoping to be part of history.

Three Argentine friends were still on the hunt for tickets with hours to go until the players lined up, having completed an epic 10,000 kilometre bike ride from Cape Town to follow their heroes in Qatar.

“We started this adventure in May and it was an incredible journey,” said Leandro Pighi, 32, who along with Lucas Ledezma, 35, and Matias Vilaruel 30, had cycled through 15 countries in six months on the ride of a lifetime, arriving in Qatar the day before the competition started.

“We took flights to Cape Town from Argentina and started cycling all the way through Africa and Asia to Qatar. We followed our football passion and chant for the team in all matches,” Mr Pighi said.

French flair was on show as supporters turned up with faces painted in their national colours as they cherished a second consecutive World Cup final.

A spectacular closing ceremony added more glitz and glamour to the occasion before the teams took centre stage.

High-profile figures such as French President Emmanuel Macron and Elon Musk took to their seats as the biggest game in football drew near.

It was Messi and Mbappe that they had all came to see, however.

The master taking on the apprentice, the footballing king and the Paris St Germain teammate who sought to take his crown.

It is now onwards to World Cup 2026, when three countries in the US, Mexico and Canada will aim to replicate the magic of Doha.

It will prove a hard act to follow.

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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, Abu Dhabi Test: At a glance

Moment of the day Just three balls remained in an exhausting day for Sri Lanka’s bowlers when they were afforded some belated cheer. Nuwan Pradeep, unrewarded in 15 overs to that point, let slip a seemingly innocuous delivery down the legside. Babar Azam feathered it behind, and Niroshan Dickwella dived to make a fine catch.

Stat of the day - 2.56 Shan Masood and Sami Aslam are the 16^th opening partnership Pakistan have had in Tests in the past five years. That turnover at the top of the order – a new pair every 2.56 Test matches on average – is by far the fastest rate among the leading Test sides. Masood and Aslam put on 114 in their first alliance in Abu Dhabi.

The verdict Even by the normal standards of Test cricket in the UAE, this has been slow going. Pakistan’s run-rate of 2.38 per over is the lowest they have managed in a Test match in this country. With just 14 wickets having fallen in three days so far, it is difficult to see 26 dropping to bring about a result over the next two.

MATCH INFO

Karnatake Tuskers 114-1 (10 ovs)

Charles 57, Amla 47

Bangla Tigers 117-5 (8.5 ovs)

Fletcher 40, Moores 28 no, Lamichhane 2-9

Bangla Tiger win by five wickets

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THE APPRENTICE

Director: Ali Abbasi

Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong

Rating: 3/5