Thousands welcome home Kylian Mbappe and the France World Cup squad - in pictures

Kylian Mbappe and the France football squad were greeted by thousands of fans after arriving back in Paris on Monday from the World Cup in Qatar.

France were beaten in a penalty shoot-out by Argentina on Sunday night in one of the all-time great World Cup finals and the team looked in a sombre mood after landing at Charles de Gaulle Airport from Doha.

Despite it being a drab and chilly December evening, though, several thousand had congregated at Paris' Place de la Concorde.

Fans let off fireworks, waved French tricolore flags and chanted "Allez Les Bleus" and the French national anthem as the team appeared on the balcony of the Hotel de Crillon.

Manager Didier Deschamps and team captain Hugo Lloris waved to the crowds from the balcony. They were later joined by the rest of the squad and Mbappe, who drew a huge roar from the crowd.

"Frankly, it's magnificent, it warms the heart, it's a great pleasure to see that we were able to make so many French people proud and happy," forward Marcus Thuram told TF1 TV.

"We wanted to see them [the fans] on our return from Doha because I think it's the least we can do to come and see them and thank them for their support," he added.

World Cup final gallery

Goalkeeper and captain Hugo Lloris told TF1 that it was a chance to "greet them (the fans), to thank them for their support and, after yesterday's pain, to seek their consolation."

France lost on penalties on Sunday after the match ended 3-3 following extra time, but French commentators still heaped praise on the defeated side, while highlighting the crucial role of Argentinian captain Lionel Messi.

"Invited to the coronation of Lionel Messi, Les Bleus were heroic," said L'Equipe sports newspaper.

The match was dominated by Argentina for the first 80 minutes before a quickfire double by Mbappe ignited France. Mbappe went on to score a third goal, becoming only the second player in history to grab a hat-trick in a World Cup final.

You can see a gallery of the scenes in Paris in the gallery above. To view the next image, just swipe.

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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.”

Sinopharm vaccine explained

The Sinopharm vaccine was created using techniques that have been around for decades.

“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.

"What is left is a skeleton of the virus so it looks like a virus, but it is not live."

This is then injected into the body.

"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.

"You have to be exposed more than one time to what we call the antigen."

The vaccine should offer protection for at least months, but no one knows how long beyond that.

Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.

“Since it is inactivated, it will not last forever," she said.