Back in the summer, a short clip of Marcus Berg’s young son Leonel’s emotional response to seeing his dad play at the World Cup in Russia was widely viewed in cyberspace.
A few months on, and at another version of a World Cup, he was unwittingly afforded more air time. At half-time in the opening round match between Al Ain and Team Wellington on Wednesday night, the TV cameras zoomed in on the youngster in the stands at the Hazza bin Zayed Stadium, proudly wearing his Al Ain shirt.
He had again been moved to tears, this time as the team were facing almost certain exit, trailing as they were 3-1 to a team of players performing feats far beyond their amateur status.
And father Marcus had not even made it onto the field yet. The Sweden striker was a conspicuous absentee when the starting XIs were announced, given he is Al Ain’s most productive source for goals.
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Read more
Marcus Berg confident of being back to full health for Al Ain's Fifa Club World Cup clash with Esperance
Khalid Essa: Al Ain did not 'underestimate' Team Wellington after staging great escape
Al Ain beat Team Wellington on penalties at Fifa Club World Cup after coming back from three goals down
Lowdown: All you need to know about the Fifa Club World Cup in Abu Dhabi
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He had, however, been laid low for a day or so by a virus. Zoran Mamic, the Al Ain manager, had toyed with the idea of starting his attacking star and seeing how much he could extract from his weary body, but feared he might only manage 30 minutes.
Better, the manager felt, to save whatever game time Berg could manage, till the business end of the fixture.
The ploy might have appeared entirely flawed when Team Wellington went 3-0 up, via a sensational strike from distance by Mario Barcia – “an unbelievable goal, bravo,” Mamic said after – then further goals from Aaron Clapham and Mario Ilich.
After Tsukata Shiotani and Tong Doumbia had reduced the arrears to 3-2, Mamic risked Berg with 12 minutes left. The man whose goals fired Al Ain to the Arabian Gulf League title last season, and thus a place in this competition, needed two sighters – as he headed wide – before levelling and taking the game to extra-time.
A little over half an hour later, Berg actually missed his penalty in the shoot-out, firing over the bar. But he had done his bit by getting off his sick bed and giving his side their lifeline.
And Al Ain won 4-3 on penalties, anyway, so all is well that ends well for the home representatives at the Club World Cup.
Quite what effect the great escape against Wellington will have on the host team when they line up for their second match against Esperance de Tunis on Saturday evening remains to be seen.
There is certain to be availability issues. Mohammed Abdulrahman was shown a red card for a tired lunge late in extra-time on Werdnesday, so the midfielder will definitely be absent against Esperance.
And a three-day turnaround is a short recovery period for a set of players who played an emotional 120 minutes on Wednesday.
Even Berg will be feeling it, despite his appearance only really being a cameo. Mamic had wanted to try his striker for 15 minutes. In the end, given the additional time, he played 45.
But it also stands to reason Al Ain’s players will also feel emboldened by the way they returned from the brink on opening night. Al Jazira, their AGL rivals, showed few ill-effects from a similar workload when they played in the competition last year, and rose to the occasion instead.
Mamic, the Croatian in charge of the host team, said the manner of the comeback shows the resilience of his side, and he is hopeful ahead of the game against the African champions from Tunisia.
“It means there is big, big character in my team, and big confidence in my team,” Mamic said.
“You cannot say every day that you will comeback from 3-0 down, but it is a great thing. It is great for our next game, but the next game will of course be different.
“We have to use these three days for good recovery, to make a plan for this game, and to try to play a good match, to try to get into the next round. Everything is possible.
“We believe. We believed in the second half [against Wellington] we could come back, and we did. Bravo to the team.”
Fixtures
Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs
Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms
Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles
Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon
Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon
States of Passion by Nihad Sirees,
Pushkin Press
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.”
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.
Fixtures:
Wed Aug 29 – Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore
Thu Aug 30 - UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman
Sat Sep 1 - UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal
Sun Sep 2 – Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore
Tue Sep 4 - Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong
Thu Sep 6 – Final
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
More from Neighbourhood Watch:
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
