Sometimes the simplest compliments are the most significant. "I like the way he plays the game," said Pep Guardiola of John Stones, his latest and costliest signing. The Manchester City manager does not seem to like the way most centre-backs play. At times, he threatens to render them an endangered species. He has deployed midfielders such as Javier Mascherano, Javi Martinez and even Xabi Alonso in the middle of his defences. Albeit in a friendly and when Vincent Kompany, Nicolas Otamendi and Eliaquim Mangala were absent, he paired midfielder Fernandinho and leftback Aleksandar Kolarov in what tends to be a specialist role in Sunday's 3-2 defeat to Arsenal.
• More: Richard Jolly's Premier League predictions
As Gael Clichy, another leftback, recounted, Guardiola “said something like, ‘If he could play 11 midfielders, he would play them.’” What Stones’ £47.5 million move from Everton indicates is that he is a defender with the skill set of a midfielder.
Because Guardiola makes exceptions for certain centre-backs. He champions them. He improves them. If they have the raw ingredients to ally assurance in possession with defensive instincts, he promotes them. Gerard Pique was an early recruit at Barcelona, a Manchester United reserve Guardiola made a double Champions League winner and one of the world’s top centre-backs. Arguably the best right now is Jerome Boateng, whose pace and power was apparent when Guardiola went to Bayern. “Since he came I think I’ve improved my game, especially technically,” the German said in May. Guardiola recognised his potential.
Stones possesses it in abundance. What he has not demonstrated is the consistency to justify his fee. He had two seasons as a first-team regular at Goodison Park. They were Everton’s two worst, in terms of goals conceded, since 2004. He became an emblem of Roberto Martinez’s cavalier side, gifted but underachieving, neglecting the basics in their ambition, a player of undeniable style whose substance was questioned.
He also became a scapegoat: not inside Everton, but externally. The British suspicion of footballing centre-halves runs deep. Stones’ mistakes were highlighted, and perhaps exaggerated, last season. Given City’s aims, they could come at a greater cost this season. Yet it is worth remembering that Jose Mourinho, who prefers centre-backs with impeccable defensive credentials, submitted three bids for him last summer. The pragmatists value Stones, too.
Should all the add-ons be triggered, he will join Paris Saint-Germain’s £50 million signing David Luiz — no byword for flawless defending himself — as the most expensive centre-back in history. And yet, while City now possess the three costliest central defenders ever bought by English clubs, their concerns are not budgetary. As their defensive record has deteriorated, they can testify that outlay has not bought excellence.
Stones’ arrival is an indictment of past dealings. Nicolas Otamendi is reckless and has a habit of charging out of position. He scarcely represents Guardiola’s ideal stopper but still seems to have a part to play. The cumbersome Mangala, who has been omitted from City’s Champions League squad, surely does not. He is a £42 million mistake.
Each performed better alongside Kompany than without him last season, underlining the captain’s continuing importance. One task for Stones will be to dovetail with the Belgian. A greater one, with Kompany missing the start of the campaign, is to deputise for him and to display the leadership City have often lacked in his absence. Along with the price tag, it places a weight on the 22-year-old’s shoulders. Stones has the youth to be Kompany’s successor as well as his footballing soulmate. It has become ever more apparent that City cannot rely on the 30-year-old remaining fit. It is why Stones and Ilkay Gundogan are Guardiola’s two pivotal acquisitions, the passers who will be the cornerstone of his side.
Stones’ 88.7 per cent pass completion rate last season is an indication few centre-backs use the ball better. Kompany may be among them. It is strange to recall he began his City career as a midfielder. Now Guardiola has a new midfielder at the back; just one who is a specialist centre-back.
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
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The biog
Favourite film: The Notebook
Favourite book: What I know for sure by Oprah Winfrey
Favourite quote: “Social equality is the only basis of human happiness” Nelson Madela. Hometown: Emmen, The Netherlands
Favourite activities: Walking on the beach, eating at restaurants and spending time with friends
Job: Founder and Managing Director of Mawaheb from Beautiful Peopl
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
Squads
India: Kohli (c), Rahul, Shaw, Agarwal, Pujara, Rahane, Vihari, Pant (wk), Ashwin, Jadeja, Kuldeep, Shami, Umesh, Siraj, Thakur
West Indies: Holder (c), Ambris, Bishoo, Brathwaite, Chase, Dowrich (wk), Gabriel, Hamilton, Hetmyer, Hope, Lewis, Paul, Powell, Roach, Warrican, Joseph
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
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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.”
Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
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.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
COMPANY%20PROFILE%20
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THE SPECS
Engine: 1.6-litre turbo
Transmission: six-speed automatic
Power: 165hp
Torque: 240Nm
Price: From Dh89,000 (Enjoy), Dh99,900 (Innovation)
On sale: Now