Manny Pacquiao, left, and Amir Khan, right, are edging closer to a fight, expected to take place in the UAE. Steve Marcus / Reuters
Manny Pacquiao, left, and Amir Khan, right, are edging closer to a fight, expected to take place in the UAE. Steve Marcus / Reuters

Amir Khan agrees to date change for UAE super-fight with Manny Pacquiao



A fight in the UAE between Manny Pacquiao and Amir Khan has moved a step closer after the British boxer agreed to change the bout to May 20.

The two boxers announced this week on their respective Twitter accounts that they would meet on April 23, and although no venue to stage the event was confirmed, the UAE was understood to be the frontrunner. Pacquiao's adviser, Michael Koncz, later told The National the fight would take place in the Emirates next month.

However, on Wednesday, Koncz said he was instead working towards May 20 following a meeting with promoter Bob Arum, the founder and CEO of Top Rank, and that he would seek approval from both Pacquiao and Khan. Khan's camp then confirmed to The National late on Wednesday that the two-time world champion had agreed to the revised date.

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Read more

■ Steve Luckings: Until punches are exchanged, let's remain cautious

■ Podcast: Pacquiao v Khan the biggest sporting event in UAE history

■ Michael Koncz: UAE fight agreed for May 20 – if both boxers approve

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It now appears the UAE – and more specifically Dubai - is set to host the fight between Pacquiao, an eight-division champion, and Khan, his former training partner.

Speaking earlier in the day, Koncz told Yahoo Sports: “We decided to move it to ... May 20 in the United [Arab] Emirates so we’d have time to promote it properly and make it a huge success.

“I have to talk to both fighters [on Wednesday] to get them to approve going in May instead of in April. I don’t think that will be any problem.”

Koncz also addressed the logistics of putting on a fight in the UAE where not only the time difference — 12 hours ahead of Las Vegas — will play a part, but the fact Sunday morning represents the first day of the work week, meaning a bout that would be broadcast on the traditional Saturday evening slot would be impractical.

“We just want to do the best and the biggest fight we can, and this makes a lot of sense for so many reasons,” Koncz said. “We’ll be able to properly promote it and while it will be a Friday in the US, it will be a Saturday there.

“We were going to do it originally on a Sunday there, but that’s the start of their work week and we didn’t feel at the end of the day that would make as much sense. Their weekends are Friday-Saturday and putting the fight on Sunday when everyone was going back to work seemed like it might be a problem.

“Friday is a different night [than most PPV cards are held in the US], but remember how big the Friday Night Fights used to be? We have the time now to promote it properly and I think we have the right fight, so I think it will do well.”

Pacquiao, 38, acts as a senator in the Philippines House of Representatives, but returned to the ring last November, sealing a unanimous-decision victory against Jessie Vargas following a short retirement to pursue his career in politics. His record stands at 59-6-2.

Khan, meanwhile, last fought last May, when he suffered a sixth-round knockout to Saul Canelo Alvarez. The Englishman, 30, has 31 victories and four defeats.

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RESULTS

Bantamweight

Victor Nunes (BRA) beat Siyovush Gulmamadov (TJK)

(Split decision)

Featherweight

Hussein Salim (IRQ) beat Shakhriyor Juraev (UZB)

(Round 1 submission, armbar)

Catchweight 80kg

Rashed Dawood (UAE) beat Otabek Kadirov (UZB)

(Round-1 submission, rear naked choke)

Lightweight

Ho Taek-oh (KOR) beat Ronald Girones (CUB)

(Round 3 submission, triangle choke)

Lightweight

Arthur Zaynukov (RUS) beat Damien Lapilus (FRA)

(Unanimous points)

Bantamweight

Vinicius de Oliveira (BRA) beat Furkatbek Yokubov (RUS)

(Round 1 TKO)

Featherweight

Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)

(Round 1 rear naked choke)

Flyweight

Shannon Ross (TUR) beat Donovon Freelow (USA)

(Unanimous decision)

Lightweight

Dan Collins (GBR) beat Mohammad Yahya (UAE)

(Round 2 submission D’arce choke)

Catchweight 73kg

Martun Mezhulmyan (ARM) beat Islam Mamedov (RUS)

(Round 3 submission, kneebar)

Bantamweight world title

Xavier Alaoui (MAR) beat Jaures Dea (CAM)

(Unanimous points 48-46, 49-45, 49-45)

Flyweight world title

Manon Fiorot (FRA) v Gabriela Campo (ARG)

(Round 1 RSC)

UJDA CHAMAN

Produced: Panorama Studios International

Directed: Abhishek Pathak

Cast: Sunny Singh, Maanvi Gagroo, Grusha Kapoor, Saurabh Shukla

Rating: 3.5 /5 stars

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.”

Take Me Apart

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(Warp)

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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Election pledges on migration

CDU: "Now is the time to control the German borders and enforce strict border rejections" 

SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom" 

Results:

Men’s wheelchair 200m T34: 1. Walid Ktila (TUN) 27.14; 2. Mohammed Al Hammadi (UAE) 27.81; 3. Rheed McCracken (AUS) 27.81.

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Plan to boost public schools

A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.

It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.

Aspects of the school model will be extended to international private schools, the education minister has previously suggested.

Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.

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Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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