The USA men's basketball team are set to play two exhibition games in Abu Dhabi this summer in the run-up to the 2023 FIBA World Cup.
It was announced on Wednesday that Team USA, Germany and Greece will play in a three-team series following an agreement between USA Basketball and the Department of Culture and Tourism Abu Dhabi.
The Americans will play Greece on August 18 and Germany two days later; while Germany and Greece tip-off on August 19, all ahead of the FIBA World Cup, which begins the following week in Japan, Indonesia and the Philippines.
Team USA will be coached by nine-time NBA champion Steve Kerr, who won five titles as a player (three with Chicago Bulls and two San Antonio Spurs) and four as head coach (with Golden State Warriors).
“USA Basketball is thrilled to work with DCT Abu Dhabi to bring the USA Basketball Showcase to Abu Dhabi,” Jim Tooley, chief executive of USA Basketball, said after an agreement was signed in Berlin on Wednesday.
“This is the first time our Men’s National Team will play in the UAE and we’re excited to engage with fans from across the globe, while also offering our players and coaches memorable on and off-court experiences.
“We are grateful to the national federations of Greece and Germany for their participation as we prepare for the 2023 FIBA World Cup, arguably the toughest international tournament in basketball.”
Abu Dhabi hosted two NBA games between Milwaukee Bucks and Atlanta Hawks at Etihad Arena in October 2022 that marked the beginning of its multi-year partnership with the capital.
Saleh Al Geziry, director general of tourism at DCT Abu Dhabi, said: “It’s set to be an unforgettable summer in Abu Dhabi and it’s an honour to host the first USA Basketball Showcase in the UAE.
“We look forward to welcoming players and fans from the USA, Germany and Greece, to cheer on their national teams and to discover a wide range of experiences in Abu Dhabi that inspire, excite and restore."
The World Cup that follows the Abu Dhabi exhibition games will be the first to be hosted by more than one nation and sees 32 teams taking part. Spain are the defending champions after beating Argentina in 2019.
Ingo Weiss, president of the German Basketball Federation, said: “It's really great for us to be able to play the USA and Greece in Abu Dhabi just before the FIBA World Cup.
“Abu Dhabi is an excellent location for such a top-class basketball event and is developing more and more into a real sports stronghold. The DBB is very much looking forward to our time in the UAE and the great games there."
Vangelis Liolios, president of the Hellenic Basketball Federation, said: “We are excited to be part of such a great celebration of basketball.
“Three continents will meet on the eve of the 2023 World Cup thanks to DCT Abu Dhabi. The Hellenic Basketball Federation accepted the invitation with a mix of joy and excitement for this double encounter with the USA and Germany.
“We are looking forward to an amazing experience on and off the court. Our men’s national team will be ready to enjoy the game, hoping to bring smiles to the fans.”
Tickets will go on sale this spring, but fans can register for updates on https://www.fiba.basketball/basketballworldcup/2023.
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Company Profile
Company name: Yeepeey
Started: Soft launch in November, 2020
Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani
Based: Dubai
Industry: E-grocery
Initial investment: $150,000
Future plan: Raise $1.5m and enter Saudi Arabia next year
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The biog
Name: Abeer Al Shahi
Emirate: Sharjah – Khor Fakkan
Education: Master’s degree in special education, preparing for a PhD in philosophy.
Favourite activities: Bungee jumping
Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.
Cry Macho
Director: Clint Eastwood
Stars: Clint Eastwood, Dwight Yoakam
Rating:**
Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
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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.
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In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
Biography
Favourite Meal: Chicken Caesar salad
Hobbies: Travelling, going to the gym
Inspiration: Father, who was a captain in the UAE army
Favourite read: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter
Favourite film: The Founder, about the establishment of McDonald's
RESULT
Fifth ODI, at Headingley
England 351/9
Pakistan 297
England win by 54 runs (win series 4-0)
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.”
