Al Ain's Emmanuel Emenike, centre, dribbles through Al Jazira defenders during their Arabian Gulf Cup match at Mohammed bin Zayed Stadium in Abu Dhabi on August 28, 2015. Adil Alnaimi / Al Ittihad
Al Ain's Emmanuel Emenike, centre, dribbles through Al Jazira defenders during their Arabian Gulf Cup match at Mohammed bin Zayed Stadium in Abu Dhabi on August 28, 2015. Adil Alnaimi / Al Ittihad
Al Ain's Emmanuel Emenike, centre, dribbles through Al Jazira defenders during their Arabian Gulf Cup match at Mohammed bin Zayed Stadium in Abu Dhabi on August 28, 2015. Adil Alnaimi / Al Ittihad
Al Ain's Emmanuel Emenike, centre, dribbles through Al Jazira defenders during their Arabian Gulf Cup match at Mohammed bin Zayed Stadium in Abu Dhabi on August 28, 2015. Adil Alnaimi / Al Ittihad

Al Jazira and Al Ain share spoils in Arabian Gulf Cup openers while Al Wahda rally for draw


Amith Passela
  • English
  • Arabic

Al Jazira’s defensive woes resurfaced when they gave up a two-goal lead to settle for a 2-2 draw against Al Ain in their Arabian Gulf Cup opener on Friday night at Mohammed bin Zayed Stadium.

Mirko Vucinic and Thiago Neves struck first-half goals for the home side before Ryan Babel and substitute Saeed Al Kathiri scored for the visitors, who were without several first-team players away on national-team duty.

Vucinic beat the offside trap to meet a free kick chest-first on the bounce from Neves for a 25th-minute lead. The Brazilian added the second after exchanging passes with Vucinic in first-half injury time.

Babel was accurate with a penalty in the 65th minute after the Jazira centre-back Juma Abdullah was penalised for pulling Al Kathiri’s shirt in front of goal.

Al Kathiri headed Al Ain’s second when he beat the Jazira defence in the air to knock in Rashed Essa’s cross nine minutes later.

In a game played down the road in the capital earlier Friday, Sebastian Tagliabue had a hat-trick as Al Wahda twice came from behind to salvage a 3-3 draw against Fujairah.

The Argentine was on target with two spot-kicks and rounded off his efforts with a powerful volley in a game that had a player for each team sent off.

Abdulaziz Ismail, the Fujairah centre-back, received a straight red for a clumsy tackle on substitute Sultan Saif on the 68th minute. Salem Sultan, the Wahda defender, received a second yellow three minutes from time.

Hassan Maatouk put the visitors ahead on the seventh minute, smashing home a left-footer after Christophe Mandanne split the defence with a low cross.

Fujairah could have extended the lead further if Patrick Eze’s close effort had not hit the far post after a deflection off the hand of Wahda goalkeeper Fahad Dhanhani.

Tagliabue struck the equaliser from a spot kick awarded when Ismail Matar was brought down by Fujairah defender Waleed Al Yamahi four minutes before the break.

Fujairah regained the lead on the hour through a fine curling shot from Eze. The Nigerian consolidated the lead eight minutes later after exchanging passes with Mandanne.

Tagliabue fired home his second spot kick in the 70th minute, and Wahda capitalised on their numerical advantage to level the score, with Tagliabue completing his hat-trick with his volley on a cross from Saif five minutes later.

In Dubai, Al Wasl got the better of Al Shaab 2-0 at home. Edgar Bruno put them ahead in the eighth minute and Yaser Salem doubled the lead on the 88th minute, shortly after Shaab’s Khalid Mohammed was sent off.

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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.”

Key facilities
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  • 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
Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf

Three stars

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The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
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Brief scores:

QPR 0

Watford 1

Capoue 45' 1

The Cockroach

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Ian McEwan 
 

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