He might have just captained Manchester City to one of the most dramatic Premier League triumphs ever, but Vincent Kompany clearly knows on which side his bread is buttered.
"It was one of the best moments of my life," Kompany said of his team's logic-defying, last-gasp win on Sunday, before adding, with a barely concealed chuckle, an obligatory "together with the birth of my child and together with my wedding day".
The men and women of the press corps laughed knowingly. I suspect that they thought, just as I did, that Kompany was lying. Far be it from me to doubt his love for his family, but Kompany's words seemed born out of duty more than real feeling.
It is hard to see how anyone in attendance at Etihad Stadium who witnessed the "miracle at Manchester" on Sunday, as Kompany himself called it, would not consider it to be the greatest day of their lives.
Logically, of course, there is no acceptable explanation for that. It's just 22 players kicking a round ball, the cynics would say. A modern day opiate for the masses. Bread and circuses. Is this real happiness, or merely an illusion of it?
This is best answered with another question: does it matter?
"The goal towards which the pleasure principle impels us - of becoming happy - is not attainable," Sigmund Freud said of the pursuit of happiness. "Yet we may not - nay, cannot - give up the efforts to come nearer to realisation of it by some means or other." So, that's escapism, Sigmund.
Except it's so much more than that. The joy, and let's not forget, misery, that football brings to millions is far closer to spiritualism than escapist entertainment. Enjoying The Avengersis one thing; what City fans, and Kompany, experienced is quite another. Happiness, that day, was very much "attainable".
In his era-defining book about football obsession, Fever Pitch, the usually erudite Nick Hornby struggled in vain to articulate what Arsenal's dramatic league championship win at Anfield in 1989 - the game most closely resembling City's on Sunday - felt like.
He gave up, saying there was no analogy good enough for the euphoria felt after that last-minute winner. No memorable concerts, no personal awards or promotions, not even winning the pools. And of course, not even that old standard: the new baby.
"Childbirth must be extraordinarily moving, but it doesn't have that crucial surprise element," Hornby said, adding: "What else is there that can possibly provide the suddenness?" And there, in a nutshell, lies the glory of sports. Suddenness.
"The Rumble in the Jungle" as Muhammad Ali knocked out George Foreman in Zaire, 1974. "The Miracle on Ice" at the 1980 Winter Olympics, when the amateurs of the US beat the mighty Soviets in Lake Placid. And the Red Sox beating the New York Yankees in seven games to banish the "Curse of the Bambino" on their way to winning their first World Series for 86 years in 2004. All against the odds. All so very sudden.
These City fans had waited 44 years, their comically underachieving club forever in the shadow of absurdly successful and, one would assume, insufferable rivals. If there was a competition for messing up, City would have messed up their application form. There was even a name for it: "Cityitis". In retrospect, it could only be cured the way it was on Sunday; despair before ultimate, sudden redemption.
For United fans, now, the trauma. The sort of trauma their team has inflicted on supporters of other clubs for the last two decades. They'll handle it of course, for they have their own stories, their own miracles. One friend who was lucky enough to be at the fabled 1999 Champions League final win over Bayern Munich once told me that it was the best night of his life.
"This stays between us, but it was better than the birth of my child." Ah, a bit of self-awareness at last. And from a Manchester United fan no less.
It's not right. It just is.
akhaled@thenational.ae
On Twitter: AliKhaled_
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The%20specs
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
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.”
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
UAE%20ILT20
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25-MAN SQUAD
Goalkeepers: Francis Uzoho, Ikechukwu Ezenwa, Daniel Akpeyi
Defenders: Olaoluwa Aina, Abdullahi Shehu, Chidozie Awaziem, William Ekong, Leon Balogun, Kenneth Omeruo, Jamilu Collins, Semi Ajayi
Midfielders: John Obi Mikel, Wilfred Ndidi, Oghenekaro Etebo, John Ogu
Forwards: Ahmed Musa, Victor Osimhen, Moses Simon, Henry Onyekuru, Odion Ighalo, Alexander Iwobi, Samuel Kalu, Paul Onuachu, Kelechi Iheanacho, Samuel Chukwueze
On Standby: Theophilus Afelokhai, Bryan Idowu, Ikouwem Utin, Mikel Agu, Junior Ajayi, Valentine Ozornwafor
The Bio
Ram Buxani earned a salary of 125 rupees per month in 1959
Indian currency was then legal tender in the Trucial States.
He received the wages plus food, accommodation, a haircut and cinema ticket twice a month and actuals for shaving and laundry expenses
Buxani followed in his father’s footsteps when he applied for a job overseas
His father Jivat Ram worked in general merchandize store in Gibraltar and the Canary Islands in the early 1930s
Buxani grew the UAE business over several sectors from retail to financial services but is attached to the original textile business
He talks in detail about natural fibres, the texture of cloth, mirrorwork and embroidery
Buxani lives by a simple philosophy – do good to all
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