Tunisia's Nater Houcine, right, and Senegal's Dame Ndoye vie for the ball during the 2015 African Cup of Nations qualifying football match on October 10, 2014 in Dakar. AFP PHOTO / AZIZE BATHILY
Tunisia's Nater Houcine, right, and Senegal's Dame Ndoye vie for the ball during the 2015 African Cup of Nations qualifying football match on October 10, 2014 in Dakar. AFP PHOTO / AZIZE BATHILY

Because of Ebola fears, Morocco want 2015 Africa Cup of Nations postponed



JOHANNESBURG // Hosts Morocco called Friday for the 2015 Africa Cup of Nations finals to be postponed over the Ebola crisis.

The Moroccan health ministry want the January 17-February 8 African football showpiece delayed “to avoid events which would involve countries affected by the Ebola virus”, the national MAP news agency reported.

MAP said a demand to postpone the Cup of Nations had been lodged with the organisers, the Cairo-based Confederation of African Football (CAF).

More than 4,000 people have died from the Ebola epidemic -- most of them in west African countries Guinea, Liberia and Sierra Leone -- since the beginning of the year.

Guinea and Sierra Leone are involved in ongoing group qualifiers while Liberia were eliminated in the preliminary knockout phase.

Despite the Moroccan government’s demands, the qualifying competition continued on Friday with Egypt grabbing a key 2-0 win against Botswana.

Midfielder Mohamed El Nenny ended the stalemate by unleashing a 35-metre drive on 55 minutes that flew high into the corner of the net over goalkeeper Kabelo Dambe.

Chelsea striker Mohamed Salah added a second six minutes later with a low curling shot from just outside the penalty area.

It was a must-win Group G matchday 3 clash for the Pharaohs after losses away to Senegal and at home to Tunisia during September.

Senegal and Tunisia fought a dour 0-0 draw in Dakar to continue sharing the group lead with seven points each, Egypt have three and pointless Botswana appear out of contention.

The top two teams in each of the seven groups qualify and there will also be a place in Morocco for the best third-place country.

A deserved Egyptian success on a poor National Stadium pitch in the Botswana capital brought some relief to coach Shawky Gharib.

National football association president Gamal Allam this week told Gharib that he would be sacked if Egypt fail to reach the 2015 Cup of Nations.

The Pharaohs won a record three consecutive African titles between 2006 and 2010, then failed to qualify for the next two tournaments.

A near-capacity crowd at the 60,000-seat Stade Leopold Senghor in Dakar was subdued during a slow first half of many niggling fouls and barely any scoring chances.

Senegal striker Moussa Sow had the ball in the net after five minutes, but was correctly ruled offside.

Defender Hamza Mathlouthi later intervened to prevent Sow having a clear shot at goal and unmarked Sadio Mane misconnected with a cross to the annoyance of Senegalese supporters.

Tunisia were so intent on protecting their goal that when striker Fakhreddine Ben Youssef broke clear no team-mate was around to challenge for his cross.

In-form Newcastle striker Papiss Cisse came off the bench for the second half to replace Sow, but the well-organised Carthage Eagles continued frustrating the Terenga Lions.

Lesotho and Angola drew 0-0 in a mediocre Maseru match -- a result that did the Group C chances of both teams little good.

Burkina Faso, runners-up to Nigeria in the 2013 Cup of Nations, top the table with six points followed by Gabon with four, Lesotho two and Angola one.

Gabon host Burkina Faso in Libreville Saturday and they are the countries looking likely to qualify.

The Angolan Black Antelopes created more chances on a cool, windy night at Setsoto Stadium, but the Lesotho Crocodiles came close to snatching a stoppage-time winner off a corner.

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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.”

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

The five pillars of Islam

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2. Prayer

3. Hajj

4. Shahada

5. Zakat 

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