Al Ahli's Salmeen Khamis, left, and Al Shabab's Essa Obaid put their heads to some use in the 1-1 UAE League Cup match at the Rashid Stadium in Dubai on March 3, 2014. Satish Kumar / The National
Al Ahli's Salmeen Khamis, left, and Al Shabab's Essa Obaid put their heads to some use in the 1-1 UAE League Cup match at the Rashid Stadium in Dubai on March 3, 2014. Satish Kumar / The National
Al Ahli's Salmeen Khamis, left, and Al Shabab's Essa Obaid put their heads to some use in the 1-1 UAE League Cup match at the Rashid Stadium in Dubai on March 3, 2014. Satish Kumar / The National
Al Ahli's Salmeen Khamis, left, and Al Shabab's Essa Obaid put their heads to some use in the 1-1 UAE League Cup match at the Rashid Stadium in Dubai on March 3, 2014. Satish Kumar / The National

Ciel saves Al Ahli’s lethargic play against Al Shabab in UAE League Cup


John McAuley
  • English
  • Arabic

AL AHLI 1 AL SHABAB 1

Al Ahli - Ciel 90'

Al Shabab - Omar Ali 48'

Man of the match - Omar Ali (Al Shabab)

DUBAI // Although Al Ahli remain on course for an unprecedented domestic treble, their safe negotiation of the League Cup group stages did not provide much reason for encouragement.

The Rashid Stadium side Monday night entertained Al Shabab in what was effectively a dead rubber in Group B, as the only outcome not yet decided was where the hosts would finish in their pool.

By dint of a largely lethargic 1-1 draw, and Al Dhafra's 4-0 victory against Emirates, Ahli progress as runners-up to the semi-finals on March 15, where they will face a tricky tie at Sharjah.

That the runaway leaders of the Arabian Gulf League and the finalists for May's President's Cup showpiece maintain aspirations of lifting all three trophies this term seemed to offer little cheer.

Ahli’s players appeared as if this derby against Shabab was little more than an unnecessary inconvenience.

Coach Cosmin Olaroiu might have sent out what was mainly his second string, but the endeavour and application was still a long way from last week’s fine 2-2 draw at Al Hilal in the Asian Champions League.

“We’re not happy with what we saw on the pitch,” said Catalin Raducan, the Ahli assistant coach, after he had watched Ciel drill home a late equaliser to cancel out Omar Ali’s 48th-minute opener. “I can understand maybe it’s difficult to motivate the players after the Champions League, when they played in front of 40,000 fans.

“But when you give chances to players who don’t usually play you expect them to be motivated, to play for the Ahli shirt.

“We’re not angry because they made mistakes, but because they didn’t show the fight or the spirit that the other team did. They must understand here is Al Ahli club and when you put on the shirt you have only one option: to win the game and give 100 per cent for the team.”

Ahli did not do either.

Yet they emerged with that three-pronged ambition intact, while Shabab must content themselves with an unlikely tilt at the league title.

For a shadow Shabab side, the result against their closest rivals said much about the depth of talent at the club.

“We have given chances to those who haven’t participated much to the team and tonight they proved that they are part of the group and deserve to be here,” said Jose Esdras, the Al Shabab assistant coach. “We take care of the second team just as we do the first.”

jmcauley@thenational.ae

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EMIRATES 0 AL DHAFRA 4

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Al Dhafra secured a home semi-final in the UAE League Cup against Al Jazira after topping Group B. Hamad Raqea scored two goals before the break and Makhete Diop (55th minute) and Abdelrahim Hussain (74th) added two second-half goals for Dhafra.

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AL WASL 2 AL NASR 3

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Al Nasr had to hang on at the finish against Al Wasl before securing bragging rights in the Bur Dubai derby. Nasr led through goals from Ibrahima Toure, Khaleefa Mubarak and Ali Al Ameri before a second-half Saeed Al Kathiri double gave the scoreline respectability.

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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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