LONDON // Chelsea are making such rapid progress under Carlo Ancelotti that after beating Burnley comprehensively 3-0 at Stamford Bridge the Italian has said he does not need Franck Ribery or any other signings for that matter.
The result, secured by goals from Nicolas Anelka, Michael Ballack and Ashley Cole, means Chelsea have won all four of their opening fixtures in the Premier League, but more importantly their performances are increasing in quality.
On the opening day Chelsea had to come from behind to beat Hull, 2-1, and several of the team looked to be struggling with their manager's diamond formation.
But the way in which Ancelotti's players moved seamlessly around the field against Burnley should have the rest of the "Big Four" looking on nervously.
Chelsea's movement was so quick, incisive and clever that without building up a sweat they could easily have won this match by eight or nine goals.
The home side's performance was so convincing that afterwards Ancelotti ruled out a move for Ribery, who had been the subject of a £45 million (Dh270m) bid from the club earlier in the summer and who is reported to be available after his club Bayern Munich signed Arjen Robben from Real Madrid.
"Will I make a bid? No," said Ancelotti. "I'm looking forward to the end of the transfer market. We will stay very well with these players. We don't want to change and we don't want to take other players."
That decision is hardly surprising considering Chelsea have Joe Cole and Yuri Zhirkov available to add to their squad when they recover from injury.
Ancelotti added: "We are happy. We are two months in, and, at this moment, the play has improved. The confidence of our play has improved. We have a possibility to win the title - we start well, but know the season is very long."
This was certainly a ruthless display from Chelsea. True, they were up against opponents who are still finding their feet at the top level. But don't forget Burnley had made an impressive start to the season by beating Manchester United and Everton at home and were contenders at Stamford Bridge, too, for 45 minutes.
They should, have taken the lead after 10 minutes when Frank Lampard inexplicably gave the ball away to Tyrone Mears who squared for teammate Martin Paterson. The striker was only eight yards from goal, but somehow contrived to send his shot wide of the post.
It was a big miss and one that proved costly.
If it hadn't been for giant goalkeeper Brian Jensen, nicknamed 'The Beast' by Burnley fans, Chelsea would have been five or six ahead by half-time as the Dane saved twice from Lampard and also from Ballack, Deco and John Terry
It was the fact that the breakthrough goal came in first-half injury time that really hurt the visitors, though, and there was an element of luck about it, too.
Michael Essien's threaded pass set Drogba free on the right and his low cross bobbled off defender Clarke Carlisle before hitting Anelka as he slid in at the far post.
From then on there was only going to be one outcome, a fact that was emphasised on 47 minutes when Lampard crossed from the left for Ballack to score with a stooping header.
It was 3-0 by the 52nd minute, Cole volleying home spectacularly following a clever one-two with Lampard.
Poor Burnley. They needed 'The Beast' to make further saves, notably from Essien and Ballack, to keep the score respectable.
But if Ancelotti's team continue their current rate of progress it is going to take a very good side to finish above them.
sports@thenational.ae
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
COMPANY%20PROFILE%20
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Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
Feeding the thousands for iftar
Six industrial scale vats of 500litres each are used to cook the kanji or broth
Each vat contains kanji or porridge to feed 1,000 people
The rice porridge is poured into a 500ml plastic box
350 plastic tubs are placed in one container trolley
Each aluminium container trolley weighing 300kg is unloaded by a small crane fitted on a truck
'The worst thing you can eat'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
COMPANY%20PROFILE
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FROM%20THE%20ASHES
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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
The%20specs
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Killing of Qassem Suleimani
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA
Company%20Profile
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RESULTS
5pm: Maiden | Dh80,000 | 1,600m
Winner: AF Al Moreeb, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
5.30pm: Handicap | Dh80,000 | 1,600m
Winner: AF Makerah, Adrie de Vries, Ernst Oertel
6pm: Handicap | Dh80,000 | 2,200m
Winner: Hazeme, Richard Mullen, Jean de Roualle
6.30pm: Handicap | Dh85,000 | 2,200m
Winner: AF Yatroq, Brett Doyle, Ernst Oertel
7pm: Shadwell Farm for Private Owners Handicap | Dh70,000 | 2,200m
Winner: Nawwaf KB, Patrick Cosgrave, Helal Al Alawi
7.30pm: Handicap (TB) | Dh100,000 | 1,600m
Winner: Treasured Times, Bernardo Pinheiro, Rashed Bouresly
Sour%20Grapes
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Teams in the EHL
White Bears, Al Ain Theebs, Dubai Mighty Camels, Abu Dhabi Storms, Abu Dhabi Scorpions and Vipers
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
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Profile of Whizkey
Date founded: 04 November 2017
Founders: Abdulaziz AlBlooshi and Harsh Hirani
Based: Dubai, UAE
Number of employees: 10
Sector: AI, software
Cashflow: Dh2.5 Million
Funding stage: Series A
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.”