Paris Saint-Germain attend a training session ahead of the French Championship Trophy match against Guingamp, at the Workers Stadium in Beijing oin July 31, 2014. The Trophee des Champions is scheduled to played at the stadium on August 2 as Ligue 1 attempts to tap into the huge China market. Jason Lee / Reuters
Paris Saint-Germain attend a training session ahead of the French Championship Trophy match against Guingamp, at the Workers Stadium in Beijing oin July 31, 2014. The Trophee des Champions is scheduled to played at the stadium on August 2 as Ligue 1 attempts to tap into the huge China market. Jason Lee / Reuters
Paris Saint-Germain attend a training session ahead of the French Championship Trophy match against Guingamp, at the Workers Stadium in Beijing oin July 31, 2014. The Trophee des Champions is scheduled to played at the stadium on August 2 as Ligue 1 attempts to tap into the huge China market. Jason Lee / Reuters
Paris Saint-Germain attend a training session ahead of the French Championship Trophy match against Guingamp, at the Workers Stadium in Beijing oin July 31, 2014. The Trophee des Champions is schedule

China to get a fleeting taste of French flair with Ligue 1’s Champions Trophy match in Bejing


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With Paris Saint-Germain at the forefront, French football steps up its attempt to win over the lucrative Asian market as the Ligue 1 title-holders meet Guingamp in the season-opening Champions Trophy in Beijing on Saturday.

For the sixth year running, the traditional curtain-raiser to the French season between the champions and cup holders is being played outside Europe.

After three visits to Africa, including last year’s game in Gabon when PSG beat Bordeaux 2-1, and two trips to North America, French football’s authorities are stepping up their efforts to gain notoriety in Asia.

“It is an exceptional opportunity for France and we want to become known in Asia and China,” said Frederic Thiriez, the president of the French league, who is hoping the presence of PSG in today’s game will maximise local interest at Beijing’s Workers’ Stadium.

“Ligue 1’s international profile has made a considerable leap forward thanks to the development of PSG and Monaco. It is among the most watched leagues, behind the English Premier League but at a reasonable level.

“This game will be watched by at least 50 million people in China and will also be shown in 70 countries worldwide.”

International television rights for Ligue 1 increased from €32.5 million (Dh160m) per year to an annual €80m for the period 2018 to 2024 after a contract was signed with Qatar-owned channel beIN Sports this year.

That is still a long way away from the money generated by Europe’s other major championships for similar deals. PSG, last season’s league and League Cup double winners, who claim to have 120 million fans in Asia with 25 million in China alone, have been on tour on the continent and beat local side Kitchee 6-2 in a friendly in Hong Kong on Tuesday, with Zlatan Ibrahimovic scoring three goals.

“A good match, a great training session against good opponents. It was what we needed before the Champions Trophy,” was how Ibrahimovic summed up the game before PSG arrived in the Chinese capital, where only about 50 people turned out to welcome them at their hotel.

For the match, PSG coach Laurent Blanc will be without those players who were involved in the latter stages of the World Cup.

France midfielders Blaise Matuidi and Yohan Cabaye have just returned to training in Paris, while none of Brazilian trio Thiago Silva, David Luiz and Maxwell, or Argentina’s Ezequiel Lavezzi, will be ­involved.

The Ivorian full-back Serge Aurier, signed on loan from Toulouse, is available, as is Uruguay striker Edinson Cavani, 27, who returned to training with his teammates on Monday after a post-World Cup break and has already had to play down speculation that he will leave PSG this summer amid interest from elsewhere.

Of Guingamp, from a town in Brittany with a population under 10,000, little is known in China.

But the modest club are looking to build on an outstanding last season, which saw them win the French Cup and survive in their first Ligue 1 campaign in nine years. Coach Jocelyn Gourvennec has kept together the majority of his squad since then and added several new faces, including three Danish recruits and the midfielder Sylvain Marveaux, signed on loan from Newcastle United, as they prepare to compete in the Europa League.

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Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EDirect%20Debit%20System%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20Sept%202017%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20with%20a%20subsidiary%20in%20the%20UK%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Undisclosed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Elaine%20Jones%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
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  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

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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.”

SERIE A FIXTURES

Saturday (All UAE kick-off times)

Cagliari v AC Milan (6pm)

Lazio v Napoli (9pm)

Inter Milan v Atalanta (11.45pm)

Sunday

Udinese v Sassuolo (3.30pm)

Sampdoria v Brescia (6pm)

Fiorentina v SPAL (6pm)

Torino v Bologna (6pm)

Verona v Genoa (9pm)

Roma V Juventus (11.45pm)

Parma v Lecce (11.45pm)

 

 

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
The specs: 2018 BMW R nineT Scrambler

Price, base / as tested Dh57,000

Engine 1,170cc air/oil-cooled flat twin four-stroke engine

Transmission Six-speed gearbox

Power 110hp) @ 7,750rpm

Torque 116Nm @ 6,000rpm

Fuel economy, combined 5.3L / 100km

UAE currency: the story behind the money in your pockets
ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5