France captain Hugo Lloris said the conclusion of the 2022 World Cup would represent the beginning of a new generation within the national team, with Kylian Mbappe at its head.
The 2018 champions were beaten 4-2 on penalties by Argentina at Lusail Stadium on Sunday night in one of the most thrilling finals in tournament history.
Mbappe scored a hat-trick on the night, with two goals in 97 seconds from the 80th minute wiping out Argentina’s two-goal advantage and sending the game into extra-time.
The Paris Saint-Germain forward, 23, struck again in the additional period to make it 3-3, becoming only the second player to register a hat-trick in a World Cup final. England’s Geoff Hurst is the other, for England in 1966.
Mbappe, who starred for France en route to the 2018 title, finished the tournament as top scorer, with eight goals.
Speaking after the defeat, Lloris said the tournament was “a passing of the baton between one generation coming to the final stage of their careers to a new generation led by Kylian”.
“He showed strong leadership in this tournament and even more so in this final," added Lloris. "We must keep this France team at the top.”
Lloris, 36, was bidding to become the first captain to lift two World Cups. The Tottenham goalkeeper is his country’s all-time leading appearance-maker, passing the mark in Qatar. As it stands, he has 145 caps for France.
Asked about the final, Lloris said: “It was like a boxing match: we went blow for blow. We didn't give up. We needed a winner, and it was decided on penalties. That's always cruel. We are empty.
Argentina beat France in World Cup final: Player ratings
“We could have let it slip at 2-0, but we continued to believe that we could turn the game around. We must congratulate Argentina who played a great tournament and a great final.
“There were a lot of great players in both sides. But it’s true that Leo Messi and Kylian Mbappe are very special and I think they were top [in the final], they were top for their team … when you are on the wrong side, it’s always difficult to find the words, it is always painful.”
However, Lloris would not comment too extensively on his international future, saying only: “I need, like everyone, to take a step back, to gain perspective on things.
“We'll see in a few weeks. We're leaving a tournament like this one drained and even more so after what happened tonight. We don't have much strength left. We just want to be back with our families.”
Didier Deschamps also revealed that he will take his time before deciding on whether he will stay on as France manager after his team's heartbreaking defeat.
The 54-year-old, in charge since 2012, is now out of contract but French Football Federation President Noel Le Graet had said Deschamps would be offered new terms if he reached the semi-finals.
Asked whether the result of the final would influence a decision on his future, Deschamps said: “Even with a different result I would not have given an answer today.”
“Obviously I am very sad. I will have a meeting with the president at the start of the new year and you will know after that,” he added.
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.”
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
UAE players with central contracts
Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.
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%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Amit%20Joshi%20and%20Aradhana%20Sah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECast%3A%3C%2Fstrong%3E%20Shahid%20Kapoor%2C%20Kriti%20Sanon%2C%20Dharmendra%2C%20Dimple%20Kapadia%2C%20Rakesh%20Bedi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
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