Arsenal have not given up hope of reaching the quarter-finals of the Champions League.
Arsenal have not given up hope of reaching the quarter-finals of the Champions League.
Arsenal have not given up hope of reaching the quarter-finals of the Champions League.
Arsenal have not given up hope of reaching the quarter-finals of the Champions League.

Arsene Wenger maintains positive approach to AC Milan task


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Arsene Wengercalled on his Arsenal team to believe they can rewrite the record books and overturn AC Milan's 4-0 lead tonight to qualify for the quarter-finals of the Champions League.

The Gunners manager was left crestfallen in the San Siro two weeks ago, having witnessed his side taken apart by the Rossoneri, as a stunning opener from the former Tottenham midfielder Kevin-Prince Boateng was followed by a brace by the ex-Manchester City striker Robinho before a late penalty by Zlatan Ibrahimovic effectively ended the tie as a contest.

The Frenchman said: "I said I don't live in a dream world - that means I know we have not created an easy situation, but when you are a top-level competitor, even if statistically we have a five per cent chance, what is important is that we believe that we can be in this five per cent chance. That is what is at stake for us - to show that we have the quality to believe we can do it, even if it is only five per cent.

"Let us make sure that we do not miss our chance because we did not believe in it."

Only three clubs have recovered from such a first-leg deficit in the history of European competitions, but those were back in the mid-1980s.

Milan, though, somehow managed to go out to Deportivo La Coruna in the 2003/04 quarter-finals having won 4-1 at home, losing the second leg in Spain 4-0.

Arsenal are short of options in midfield, with their Czech playmaker Tomas Rosicky facing a late fitness test on a groin problem and Mikel Arteta needing to rest for a week after suffering a blow to the head in a collision with Jordan Henderson during Saturday's 2-1 Premier League win at Liverpool.

Wenger said: "We lost 4-0 at Milan, but they had five shots on target and we had 55 per cent possession there and we didn't play well at all. If they can score four we can as well, why not?

"It is important that we believe we can do it. Your belief is stronger when your recent results have been good."

Djamal Mesbah, the AC Milan left-back, expects the Serie A league leaders should comfortably secure their last eight spot.

"We have a good lead and we're confident," he said. "Arsenal can be devastating at home but if we play like we can we can make it without problems."

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iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229

iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649

iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179

Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.

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1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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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UAE SQUAD

Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Shaiman Anwar, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Ahmed Raza, Sultan Ahmed, Imran Haider, Qadeer Ahmed, Chirag Suri , Zahoor Khan

What is Bitcoin?

Bitcoin is the most popular virtual currency in the world. It was created in 2009 as a new way of paying for things that would not be subject to central banks that are capable of devaluing currency. A Bitcoin itself is essentially a line of computer code. It's signed digitally when it goes from one owner to another. There are sustainability concerns around the cryptocurrency, which stem from the process of "mining" that is central to its existence.

The "miners" use computers to make complex calculations that verify transactions in Bitcoin. This uses a tremendous amount of energy via computers and server farms all over the world, which has given rise to concerns about the amount of fossil fuel-dependent electricity used to power the computers. 

MATCH INFO

Uefa Champions League semi-final, second leg
Real Madrid (2) v Bayern Munich (1)

Where: Santiago Bernabeu, Madrid
When: 10.45pm, Tuesday
Watch Live: beIN Sports HD

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