Al Jazira's Sultan al Menhali battles two Al Ahli players in Champions League action.
Al Jazira's Sultan al Menhali battles two Al Ahli players in Champions League action.
Al Jazira's Sultan al Menhali battles two Al Ahli players in Champions League action.
Al Jazira's Sultan al Menhali battles two Al Ahli players in Champions League action.

Sport

Braga seeks cup comfort

Abel Braga, the Al Jazira coach, is desperate for a consolation prize having failed to win any silverware in his two years in the UAE.

Amith Passela
Amith Passela

May 21, 2010

  • English
  • Arabic

ABU DHABI // Abel Braga, the Al Jazira coach, is desperate for a consolation prize having failed to win any silverware in his two years in the UAE. His club were runners-up in the Pro League, made a semi-final exit in the President's Cup and failed to go beyond the group stage of the Asian Champions League (ACL). Winning tonight's Etisalat Cup final would be some comfort for his efforts with the Abu Dhabi club, who have never won a major trophy.

Braga admitted the expectations among the team's supporters were naturally high as they are the favourites to win the match against relegated Ajman at Al Nasr Club's Al Maktoum Stadium in Dubai. "Everybody thinks we have already won the final," said the Brazilian. "Of course we are the favourites, but in football anything is possible. We must not take anything for granted. And don't forget, Emirate [the other relegated club this season] won the President's Cup against Al Shabab.

"It has been another frustrating season for us and this cup will be some consolation after we failed to win a trophy in the two domestic competitions and the ACL. Indeed we want to win this trophy for our fans and end the season on a high." Jazira's campaign was marred by injuries to Braga's two most expensive signings. Ricardo Oliveira, the Pro League's costliest player at Dh85 million, missed the entire second half of the season, and Rafael Sobis, the Dh62m buy last season, only returned from a serious injury for the second half of their campaign.

"Injuries are part of the game and we can't use that as an excuse," added Braga. "I am happy with the whole squad and their contributions whenever required. We will play the best line-up and I am happy Tony [the Ivorian striker] is back having recovered fully from a leg injury. "Ajman have been a bit of hindrance to us. I won't forget, it was them who ruined our chances last season with a 1-1 home draw and this year they did the same when they played out another 1-1 draw for their first league point in 10 games.

"So we have a score to settle with them. Sometimes I wonder why it's only against us [that they achieve good results]. It's not easy to take a point away from a team like Jazira and therefore we need to compliment them for coming up with such good performances." Ajman will certainly draw inspiration from their neighbours Emirate, from Ras Al Khaimah. They have done some serious preparation by holding a three-day camp in Qatar.

"The camp was to get the team together and I would like to think it has been greatly beneficial," said Ghazi Gharriri, the Tunisian coach, who took charge of Ajman midway thought the season. "This game is the most important for us as we won't have another opportunity until we return to the Pro League. We had a very poor start [to the season] losing the first nine league games, but we did pretty well towards latter stages, losing most of the games by narrow margins.

"We have a pretty good record against Jazira, having drawn the first game and losing the away game 2-1 after leading at the break. So we are hopeful and maybe third time lucky against them." apassela@thenational.ae

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Arabian Gulf League fixtures:

Friday:

  • Emirates v Hatta, 5.15pm
  • Al Wahda v Al Dhafra, 5.25pm
  • Al Ain v Shabab Al Ahli Dubai, 8.15pm

Saturday:

  • Dibba v Ajman, 5.15pm
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5pm: Mohamed Yousuf Naghi Motors Cup (Turf), 5.35pm: 1351 Cup (T), 6.10pm: Longines Turf Handicap (T), 6.45pm: Obaiya Arabian Classic for Purebred Arabians (Dirt), 7.30pm: Jockey Club Handicap (D), 8.10pm: Samba Saudi Derby (D), 8.50pm: Saudia Sprint (D), 9.40pm: Saudi Cup (D)

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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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Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.

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