Chelsea striker Didier Drogba, right, limped off the football pitch with what looked like a recurrence of an old ankle injury.
Chelsea striker Didier Drogba, right, limped off the football pitch with what looked like a recurrence of an old ankle injury.
Chelsea striker Didier Drogba, right, limped off the football pitch with what looked like a recurrence of an old ankle injury.
Chelsea striker Didier Drogba, right, limped off the football pitch with what looked like a recurrence of an old ankle injury.

Essien goal gives City the blues


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LONDON // Rejuvenated Chelsea further opened up the title race in England by beating Manchester City 1-0 but saw Didier Drogba limp off to mar their afternoon. A goal off Michael Essien's right shin secured all three points for Guus Hiddink's side, enough to move them up to second in the table ahead of Liverpool on goal difference and only four points adrift of leaders United. Sir Alex Ferguson's side do have a game in hand, but after they were surprisingly beaten 4-1 at home by Liverpool on Saturday the title race is heading for a fascinating three-way finale just when critics had claimed it was already over. Whether Chelsea can take full advantage of United's blipremains to be seen, however. They laboured and toiled to victory against City in a match that failed to catch fire despite being billed as the battle of the billionaires - Chelsea owner Roman Abramovich more than matched by City's new owner Sheikh Mansour bin Zayed. In truth, City looked a long way off being title contenders and it was Essien - playing only his second match since returning from a knee injury that kept him out for six months - who won it for Hiddink's side. The Ghanaian's remarkable drive and energy has been sorely missed and he gave Chelsea fans a reminder of his qualities when he opened the scoring, half-volleying a shot on the turn off his shin from a low and flat Frank Lampard free-kick after just 18 minutes.

There were plenty of opportunities to extend the lead, including a Belletti shot that hit a post in the second half, a Malouda effort cleared off the line by Dunne and a penalty shout that really should have been given when Anelka was held back. But Chelsea couldn't quite find third gear and their afternoon was soured when Drogba, the key to their recent revival, limped off with what looked like a recurrence of an old ankle problem. With midfielder Deco also leaving the field early because of injury, manager Hiddink is beginning to realise why managing Chelsea has proved such a difficult job in recent times. The secret of his success so far - this match made it six wins in seven games since his arrival - has been his man-management of Drogba who had fallen out so badly with Scolari that he was made to train with the youth team. But if the prognosis on the striker's ankle is bad then the old problem of scoring the number of goals their possession deserves could come back to haunt the Blues. Certainly they ran out of ideas against City in the second half, although, in fairness, thereturn from injury of Ricardo Carvalho at the back meant Chelsea never looked in serious danger of losing their lead. The much-vaunted battle with Robinho failed to spark to life as the little No 10 was kept quiet and eventually substituted.

sports@thenational.ae

White hydrogen: Naturally occurring hydrogenChromite: Hard, metallic mineral containing iron oxide and chromium oxideUltramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica contentOphiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on landOlivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour

Grand slam winners since July 2003

Who has won major titles since Wimbledon 2003 when Roger Federer won his first grand slam

Roger Federer 19 (8 Wimbledon, 5 Australian Open, 5 US Open, 1 French Open)

Rafael Nadal 16 (10 French Open, 3 US Open, 2 Wimbledon, 1 Australian Open)

Novak Djokovic 12 (6 Australian Open, 3 Wimbledon, 2 US Open, 1 French Open)

Andy Murray 3 (2 Wimbledon, 1 US Open)

Stan Wawrinka 3 (1 Australian Open, 1 French Open, 1 US Open)

Andy Roddick 1 (1 US Open) 

Gaston Gaudio 1 (1 French Open)

Marat Safin 1 (1 Australian Open)

Juan Martin del Potro 1 (1 US Open)

Marin Cilic 1 (1 US Open)

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How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

MATCH INFO

Inter Milan 1 (Martinez 18' pen)

Juventus 2 (Dybala 4', Higuain 80')

Results

6.30pm: The Madjani Stakes (PA) Group 3 Dh175,000 (Dirt) 1,900m

Winner: Aatebat Al Khalediah, Fernando Jara (jockey), Ali Rashid Al Raihe (trainer).

7.05pm: Maiden (TB) Dh165,000 (D) 1,400m

Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer.

7.40pm: Maiden (TB) Dh165,000 (D) 1,600m

Winner: Dubai Avenue, Fernando Jara, Ali Rashid Al Raihe.

8.15pm: Handicap (TB) Dh190,000 (D) 1,200m

Winner: My Catch, Pat Dobbs, Doug Watson.

8.50pm: Dubai Creek Mile (TB) Listed Dh265,000 (D) 1,600m

Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar.

9.25pm: Handicap (TB) Dh190,000 (D) 1,600m

Winner: Golden Goal, Pat Dobbs, Doug Watson.

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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.”

Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar

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