Chelsea's John Terry and Manchester United's Michael Owen challenge for the ball during their Community Shield match at Wembley Stadium.
Chelsea's John Terry and Manchester United's Michael Owen challenge for the ball during their Community Shield match at Wembley Stadium.
Chelsea's John Terry and Manchester United's Michael Owen challenge for the ball during their Community Shield match at Wembley Stadium.
Chelsea's John Terry and Manchester United's Michael Owen challenge for the ball during their Community Shield match at Wembley Stadium.

Established guard for the Community Shield


Richard Jolly
  • English
  • Arabic

By its very definition, a new season implies an element of novelty. Not in this instance. As Chelsea and Manchester United, the two dominant teams of the past six years, staged the official welcome to the forthcoming campaign, in many respects it was as though they never went away. There are plenty at either club who have reason to wish the World Cup had not happened; for 90 minutes at Wembley, it was as though it hadn't.

At times, this was seamless. For all the inevitable talk about signings, Carlo Ancelotti and Sir Alex Ferguson each named a starting XI comprised of men who were already at the club. Continuity was the theme supplied by a plethora of players. Paul Scholes, for instance, both offered a timeless exhibition of passing and maintained his form from last season. It was Scholes, typically, who was guilty of the first reckless lunge, a scythe that somehow didn't result in a caution. It was Scholes, more laudably, who spread play with inch-perfect precision; his glorious ball from the edge of the centre circle resulted in the opening goal.

It was met by Wayne Rooney, supplying Antonio Valencia with a delightful cross. The Rooney of Rustenburg, Cape Town and Bloemfontein, in an instant, was consigned to the past; this was Old Trafford's force of nature restored to his natural setting. For a player with a mere 45 minutes of pre-season action behind him, he seemed strangely sharp but, chasing back in a bid to regain possession, an appetite for the fray appeared to have returned.

United's most inventive midfielder and most potent striker had pressed the fast-forward button to bypass the summer months. That Florent Malouda drilled a shot narrowly wide and that the substitute Didier Drogba's pass almost sent his close friend in on goal indicated their Chelsea counterparts could be similarly catalytic figures. Other less encouraging trends from last season were extended. Sir Alex Ferguson's tendency to be economical with the truth was evident again when Michael Carrick, ruled out for a fortnight by his manager two days ago, started and appeared untroubled in his 79 minutes on the pitch (even a bemused Fabio Capello was seen to say "I thought you were injured").

Meanwhile Michael Owen, another granted a place in the first half, was so anonymous that a missing person report may be filed. There were few signs of an understanding with Rooney. For Chelsea, there were further hints of fallibility from their captain. John Terry took the dangerous decision to play offside which almost allowed Javier Hernandez to steer a pass through the Chelsea defence to Dimitar Berbatov. Not for the first time, Terry's judgment appeared faulty.

With Ashley Cole, rather more unusually, out of sorts, a defence that seemed the weaker half of the team was breached three times. But, eventually, there was the hint of originality. While two arrivals made comparatively quiet competitive debuts, in Yossi Benayoun and Chris Smalling, two strikers brought an injection of energy. One is a newcomer, the other a comparatively recent addition. Hernandez's bow was marked by an utterly improbable goal, the Mexican losing his footing as he shot to somehow head the ball in. Promise was nevertheless confirmed along with a sense that "Chicharito" is a player with a fondness for the big stage.

Chelsea's second-half revival, meanwhile, came courtesy of a galvanising cameo from Daniel Sturridge. Limited to two league starts in his first season at Stamford Bridge, the 20-year-old nevertheless provided the definition of an impact substitute. So, of course, did Hernandez and the great enigma. Berbatov's lovely lob ended the Chelsea fightback. For a player long criticised for failing to deliver in the major matches, it was a rare strike against elite opposition.

Yet whether this is a case of 'new season, new Berba' or another indication of his ability to decorate unimportant fixtures depends upon interpretations of the Community Shield's standing. It does, though, have a new home. In Manchester. @Email:sports@thenational.ae

Tearful appearance

Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday. 

Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow. 

She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.

A spokesman said her upset demeanour was due to a personal matter.

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

How to apply for a drone permit
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What are the regulations?
  • Fly it within visual line of sight
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  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
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The Gandhi Murder
  • 71 - Years since the death of MK Gandhi, also christened India's Father of the Nation
  • 34 - Nationalities featured in the film The Gandhi Murder
  • 7 - million dollars, the film's budget 
Mane points for safe home colouring
  • Natural and grey hair takes colour differently than chemically treated hair
  • Taking hair from a dark to a light colour should involve a slow transition through warmer stages of colour
  • When choosing a colour (especially a lighter tone), allow for a natural lift of warmth
  • Most modern hair colours are technique-based, in that they require a confident hand and taught skills
  • If you decide to be brave and go for it, seek professional advice and use a semi-permanent colour

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ETerra%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Hussam%20Zammar%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Mobility%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-seed%20funding%20of%20%241%20million%3Cbr%3E%3C%2Fp%3E%0A

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.”