City keen to lay the ghost of '81 to rest



When Manchester City host Tottenham tonight in their crucial Premier League game, many will no doubt recall 1981 for their last showdown of epic proportions. Wembley's famous old ground provided the backdrop and the FA Cup, in its centenary year, was the prize at stake. It took a replay to produce a winner and a goal that will live long in the memory.

Ricky Villa, Tottenham's Argentine midfielder, dribbled his way around the City defence before slotting the ball past Joe Corrigan, the City goalkeeper, to seal a dramatic 3-2 victory. Corrigan is constantly reminded of that magical moment, but will not be alone in hoping Carlos Tevez, City's own Argentine hero, can help produce a happier memory this time. "It will be nice to put that ghost to rest," said Corrigan, who spent 16 years at City after his debut in 1967. "It was a special goal to beat us, but I think Steve MacKenzie's goal for us was the best of the final. I was so disappointed for the fans because they had supported us through thick and thin that year.

"We had a bad start and John Bond took over as manager and we got to the semi-final of the League Cup and then the cup final. "But I thought the FA made a rick by having the replay at Wembley for the first time. For me, the cup final should be done and dusted on the day, with extra-time and penalties like now. The replay didn't have the same feeling. There were nearly twice as many Spurs fans there as it was difficult for ours to come back to London.

"I hope it will be a different outcome tonight. The fans deserve something good after so long." City are a point behind Spurs in the table with two games left and victory could arguably provide a greater reward than in 1981, with a place in the Champions League now seen as more prestigious than winning the FA Cup. Corrigan, 61, agreed as he added: "It's such an important competition to be in for any club. I was with Liverpool as a goalkeeping coach for 10 years and the times we got into the Champions League was phenomenal.

"You are then playing against the best teams in the world and best players. This game against Tottenham is massive and bigger than a cup final because it will be a step forward to so much more." Corrigan said the 3-1 win against Aston Villa on Saturday showed how much City wanted the coveted fourth spot. "They showed desire," he said. "For me, they have to take the bull by the horns and get at Tottenham. When they are flowing at their best, they are some team to watch. With Tevez, Craig Bellamy and Emmanuel Adebayor, City look strong up front and Adam Johnson has been a revelation since he joined the club."

Marton Fulop will be another key figure to help stop Tottenham. Having signed on an emergency loan from Sunderland last week, the keeper had a tough debut against Villa. But Corrigan said: "I didn't envy the lad. He came in for a massive game and had one or two nervous moments. But we all do and I think he will be OK." @Email:akhan@thenational.ae Man City v Tottenham, 11pm, Showsports 1 & 2

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.”

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 
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Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
STAY%2C%20DAUGHTER
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Russia's Muslim Heartlands

Dominic Rubin, Oxford

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
The stats: 2017 Jaguar XJ

Price, base / as tested Dh326,700 / Dh342,700

Engine 3.0L V6

Transmission Eight-speed automatic

Power 340hp @ 6,000pm

Torque 450Nm @ 3,500rpm

Fuel economy, combined 9.1L / 100km

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5