David Wallis of the UAE Falcons tries to offload the ball to a teammate during Friday's game against the Saddleworth Rangers in Dubai.
David Wallis of the UAE Falcons tries to offload the ball to a teammate during Friday's game against the Saddleworth Rangers in Dubai.
David Wallis of the UAE Falcons tries to offload the ball to a teammate during Friday's game against the Saddleworth Rangers in Dubai.
David Wallis of the UAE Falcons tries to offload the ball to a teammate during Friday's game against the Saddleworth Rangers in Dubai.

Falcons coach happy with late fight back


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DUBAI // The UAE Falcons took a long time taking flight against English amateur rugby league side Saddleworth Rangers. The visitors had already raced to a 48-0 lead before they scored their first points. The hosts, however, redeemed themselves somewhat with a late flourish to finish the game 20-64 at the Emirates Sevens on Friday night.

Elie Nehme, making his debut, scored the first points for the Falcons after 60 minutes, dragging five Rangers across the line. Dave Bolmer, player-coach Dougall Harvison and Wayne McDonald added to the score with three tries in the final quarter. It was the first defeat for the Falcons this season after two victories over Lebanese team Liban Espoir and the head coach Harvison was not exactly distraught. "We are a team who have come together just recently," said the former Australian National Rugby League player. "They [Rangers] are seasoned campaigners, coming here after finishing fourth in their league. These guys are coming off a 20-week season, so they should be fit.

"We are still developing, still learning. We could have rolled over at the end and it could have been a really big score. But I think, to our credit, we came back and scored three tries in the second-half. So I was happy with that, with the commitment from the guys." The visiting coach Keith Brennan was also impressed with the changes in UAE rugby league over the past year. He had brought his team down last season for the first official league game on UAE soil.

"They have come on leaps and bounds I think," said Brennan. "It just shows that all the training they are doing is actually working and paying off for them. "Technically they are a lot better than last year. It seems they got twice as many young lads as last year. So it is catching on." The Falcons did boast of a good attendance for the game, with nine reserves ready for a go on the sidelines. Brenman was happy to see the growing numbers and said: "There are some Australian lads in there who are bringing the local lads on, which is good to see. It just seems they are a close-knit unit. I was really impressed with them."

Despite the riches in numbers, the Falcons did miss the services of their leading players, Luke Sinclair and Joshua Sherrin. With the team thin in attack, coach Harvison decided to put himself on the frontline. "We were just a little light on our forwards and I wanted just a bit more direction out there," he explained. "I am not saying that I am the only person who could give direction, but just a little bit of a level head that has played at a pretty senior level.

"So I just wanted to go out there and sort of lead by example." arizvi@thenational.ae

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Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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(In2Musica)

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The Programme

Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
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Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
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Roll of honour

Who has won what so far in the West Asia Premiership season?

Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain

Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons

West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins

UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles

West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles

West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles

Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens

Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins

 

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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.”

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.