DOHA // The 2022 World Cup? That will have to take a back seat until later. It is "Game On" here and now in Qatar, as the Asian Cup billboards across the country proudly proclaim.
A spectacular opening ceremony last night must have surely blown away the distant clouds of the 2022 World Cup that seemed to overshadow the countdown to the Asian Cup.
Sepp Blatter, the Fifa president who has encountered plenty of flak for Qatar's winning World Cup bid, must have felt validated as he cast his eyes around the packed stands of the magnificent Khalifa Stadium. A boisterous crowd, more than 35,000 of whom had paid for their tickets, should have put to rest all doubts about fan participation.
And questions over their sporting culture? The traffic snarls leading to the Khalifa Stadium stretched into miles. That must be a sufficient testimony. Performers had lined those choked roads as well, beating on drums and entertaining those caught in the clog. The drivers, of course, added to the din, honking nonstop as they crawled to the stadium.
Many were still struck in their cars when, at 15 minutes past 6pm, the fireworks lit up the skies around the Khalifa Stadium.
The pyrotechnics were simply to announce the arrival of Sheikh Hamad bin Khalifa Al Thani, the Emir of Qatar. He entered the stadium to a standing ovation and stood as the Qatari national anthem followed.
Waving their flag proudly, hands on their chest, Qatari nationals were in an "I was there" moment. The spotlight then moved to an elderly man, standing in the middle of the ground with a young boy in tow.
He recounted the changes that he had witnessed through the years in Qatar, the development of the tiny Gulf state into a modern, big-stage player that will host the planet's greatest sports events, the Fifa World Cup, in 2022.
A kaleidoscopic laser and dance show followed; booming fireworks added to the spectacle. The adjacent Torch Tower, bellowing flames, made for a spectacular view.
As the stirring opening ceremony came to a close and the night breeze blew away the smoke-filled haze, the home fans used their ear-splitting vuvuzelas to announce themselves from the stands.
Those shrill sounds, however, came to a sudden pause seven minutes into the opening game as Uzbekistan launched three attacks in quick succession, the first of which should have finished at the back of the net. Alexander Geynrikh, to the relief of the Qatar supporters, shot into the left post.
The Qatar supporters were again holding their breath in the 18th minute as Jasur Khasanov danced alarmingly around the box, but then he pushed the ball tamely across the face of the goal. The post, in the 39th minute, frustrated the Qataris as well when Fabio Cesar's curling free-kick bounced off the upright.
The Uzbeks, however, seemed determined to break Qatari hearts and Odil Akhmedov did so two minutes short of the hour with a stunning, 30-yard rocket of a shot that flew past Qasem Burhan, the Qatar goalkeeper.
Server Djeparov doubled Qatar's pain in the 77th minute, making full use of a defensive blunder to boot home for 2-0.
The stands turned virtually silent from there. Dejected, the home fans started trooping out, back behind the wheels of their car, back into the traffic snarls, honking through it in frustration. The opening ceremony was a distant memory now.
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Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
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MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
Your Guide to the Home
- Level 1 has a valet service if you choose not to park in the basement level. This level houses all the kitchenware, including covetable brand French Bull, along with a wide array of outdoor furnishings, lamps and lighting solutions, textiles like curtains, towels, cushions and bedding, and plenty of other home accessories.
- Level 2 features curated inspiration zones and solutions for bedrooms, living rooms and dining spaces. This is also where you’d go to customise your sofas and beds, and pick and choose from more than a dozen mattress options.
- Level 3 features The Home’s “man cave” set-up and a display of industrial and rustic furnishings. This level also has a mother’s room, a play area for children with staff to watch over the kids, furniture for nurseries and children’s rooms, and the store’s design studio.
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.”
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MATCH INFO
Quarter-finals
Saturday (all times UAE)
England v Australia, 11.15am
New Zealand v Ireland, 2.15pm
Sunday
Wales v France, 11.15am
Japan v South Africa, 2.15pm
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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Day 4, Abu Dhabi Test: At a glance
Moment of the day Not much was expected – on Sunday or ever – of Hasan Ali as a batsman. And yet he lit up the late overs of the Pakistan innings with a happy cameo of 29 from 25 balls. The highlight was when he launched a six right on top of the netting above the Pakistan players’ viewing area. He was out next ball.
Stat of the day – 1,358 There were 1,358 days between Haris Sohail’s previous first-class match and his Test debut for Pakistan. The lack of practice in the multi-day format did not show, though, as the left-hander made an assured half-century to guide his side through a potentially damaging collapse.
The verdict As is the fashion of Test matches in this country, the draw feels like a dead-cert, before a clatter of wickets on the fourth afternoon puts either side on red alert. With Yasir Shah finding prodigious turn now, Pakistan will be confident of bowling Sri Lanka out. Whether they have enough time to do so and chase the runs required remains to be seen.