UAE FA chief Mohammed al Rumaithi will tie up with federations from all continents to develop the game in the country.
UAE FA chief Mohammed al Rumaithi will tie up with federations from all continents to develop the game in the country.

Al Rumaithi all for exchanges



DUBAI // Mohammed Khalfan al Rumaithi, president of the UAE Football Association (UAE FA), has little doubt that tie-ups with other national associations will enhance the game of football in the country. The UAE FA have signed co-operation deals with the German and Tunisian federations, as well as a twinning agreement with the Egyptian federation.

Ivan Hasek, the former Al Ahli coach who is now the president of the Czech Republic's football association, has also proposed a partnership. "We want enhanced relationships with other federations in all continents. "It is in the interest of the UAE FA to exchange experiences," said al Rumaithi. "We started with the Germans and now we are about to form a committee from our side to activate the agreement we have from January.

"We have done the same with Egypt. With Tunisia, we have called for a delegation to come from their side and sit with our people to see the areas where we could co-operate. "The Tunisians are very good as far as regulations are concerned. I believe they are the most advanced among Arab countries. They have doping control and arbitration centres. "They will come here and we will see the areas where we can co-operate in, not necessarily helping with the referees and coaching, or exchanging camps and all that.

"We will see what we need. We took what we need from the Germans and the Egyptians. "As far as the UAE FA is concerned, we can also help. We have our own experiences and we can share it with others." Hasek, who guided Ahli to the league title last season before leaving for home to contest elections for the presidency of the Czech association, is keen to maintain his association with the Emirates. "Hasek has proposed a partnership agreement. If we go with them, I think we will concentrate on maybe playing a friendly match every year," said al Rumaithi.

"Our agreement with Manchester City is also limited to playing the friendly match. There are no other obligations. "The match, however, will be very important for our new national team coach Srecko Katanec. It will be, I think, his third friendly match and will help him in getting a good idea about the team." Katanec's first official game will be the second leg of the 2011 Asian Cup qualifier against Malaysia at home on Jan 6.

"If we beat Malaysia we are in the finals of the Asian Cup in Doha," added al Rumaithi. "We will be left with Uzbekistan and I think we can take care of them, take our revenge by beating them in their own country." arizvi@thenational.ae

Results

5.30pm: Maiden (TB) Dh82,500 (Turf) 1,400m; Winner: Mcmanaman, Sam Hitchcock (jockey), Doug Watson (trainer)

6.05pm: Handicap (TB) Dh87,500 (T) 1,400m; Winner: Bawaasil, Sam Hitchcott, Doug Watson

6.40pm: Handicap (TB) Dh105,000 (Dirt) 1,400m; Winner: Bochart, Fabrice Veron, Satish Seemar

7.15pm: Handicap (TB) Dh105,000 (T) 1,200m; Winner: Mutaraffa, Antonio Fresu, Musabah Al Muhairi

7.50pm: Longines Stakes – Conditions (TB) Dh120,00 (D) 1,900m; Winner: Rare Ninja, Royston Ffrench, Salem bin Ghadayer

8.25pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m; Winner: Alfareeq, Antonio Fresu, Musabah Al Muhairi

9pm: Handicap (TB) Dh105,000 (T) 2,410m; Winner: Good Tidings, Antonio Fresu, Musabah Al Muhairi

9.35pm: Handicap (TB) Dh92,500 (T) 2,000m; Winner: Zorion, Abdul Aziz Al Balushi, Helal Al Alawi

 

CHINESE GRAND PRIX STARTING GRID

1st row
Sebastian Vettel (Ferrari)
Kimi Raikkonen (Ferrari)

2nd row
Valtteri Bottas (Mercedes-GP)
Lewis Hamilton (Mercedes-GP)

3rd row
Max Verstappen (Red Bull Racing)
Daniel Ricciardo (Red Bull Racing)

4th row
Nico Hulkenberg (Renault)
Sergio Perez (Force India)

5th row
Carlos Sainz Jr (Renault)
Romain Grosjean (Haas)

6th row
Kevin Magnussen (Haas)
Esteban Ocon (Force India)

7th row
Fernando Alonso (McLaren)
Stoffel Vandoorne (McLaren)

8th row
Brendon Hartley (Toro Rosso)
Sergey Sirotkin (Williams)

9th row
Pierre Gasly (Toro Rosso)
Lance Stroll (Williams)

10th row
Charles Leclerc (Sauber)
arcus Ericsson (Sauber)

RESULTS

1.45pm: Maiden Dh75,000 1,200m
Winner: Lady Parma, Richard Mullen (jockey), Satish Seemar (trainer).
2.15pm: Maiden Dh75,000 1,200m
Winner: Tabernas, Connor Beasley, Ahmed bin Harmash.
2.45pm: Handicap Dh95,000 1,200m
Winner: Night Castle, Connor Beasley, Satish Seemar.
3.15pm: Handicap Dh120,000 1,400m
Winner: Mystique Moon, Sam Hitchcott, Doug Watson.
3.45pm: Handicap Dh80,000 1,400m
Winner: Mutawakked, Szczepan Mazur, Musabah Al Muhairi.
4.15pm: Handicap Dh90,000 1,800m
Winner: Tafaakhor, Sandro Paiva, Ali Rashid Al Raihe.
4.45pm: Handicap Dh80,000 1,950m
Winner: Cranesbill, Fabrice Veron, Erwan Charpy.

COMPANY PROFILE

Company name: Co Chocolat

Started: 2017

Founders: Iman and Luchie Suguitan

Based: Dubai, UAE

Industry: Food

Funding: $1 million-plus

Investors: Fahad bin Juma, self-funding, family and friends

MATCH INFO

Watford 1 (Deulofeu 80' p)

Chelsea 2 (Abraham 5', Pulisic 55')

The specs

Price, base / as tested Dh960,000
Engine 3.9L twin-turbo V8
Transmission Seven-speed dual-clutch automatic
Power 661hp @8,000rpm
Torque 760Nm @ 3,000rpm
Fuel economy, combined 11.4L / 100k

EXPATS

Director: Lulu Wang

Stars: Nicole Kidman, Sarayu Blue, Ji-young Yoo, Brian Tee, Jack Huston

Rating: 4/5

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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