Mikel Arteta has become accustomed to disappointment during his brief and eventful time as Arsenal manager. The Gunners finished his first full season in charge in their lowest position since 1995, only eighth. Arsenal have spent a quarter of a century playing European football every season. Now one of their most southerly journeys this season will be to Brentford on Friday.
Arteta goes there with an incomplete squad, with Arsenal’s business half done. The breakdown of a move for Sheffield United goalkeeper Aaron Ramsdale leaves them looking dangerously short of alternatives to Bernd Leno. Some mooted transfer targets, whether James Maddison or Tammy Abraham, have not arrived. Arteta admitted it has been tough.
“We are talking about the most difficult transfer market in this industry over the last years, for sure, and we are trying to adapt,” he said. But with Joe Willock’s move to Newcastle not completed, Roma unable to afford Granit Xhaka and a host of players who Arsenal might have been willing to sell not attracting sufficient offers, funds are limited.
“It is [the same] for every club at the moment,” said Arteta. “We have ownership that they are willing to invest in the team and they want to get the team better with bigger aims. But at the same time we need to be careful because we want to be in a financial position that is sustainable for the club.”
Arsenal’s owners, the Kroenke family, have felt parsimonious in the past but they authorised a £50 million ($69m) deal for Ben White, making him the most expensive defender in the club’s history. “He is a player we have looked at for a long time,” Arteta said. “He fitted the profile of exactly what we wanted.”
Nuno Tavares has also arrived to understudy Kieran Tierney at left-back while Albert Sambi Lokonga, who seemed a youthful addition to the midfield ranks, may be parachuted into the team as Thomas Partey is out until September's international break, as are Eddie Nketiah and Gabriel Martinelli. “The difficulty with him is how long he has been injured,” said Arteta of the oft-sidelined Partey.
There may be a makeshift look to the midfield. Arsenal feel in limbo. “In this first period of the transfer window I think we’ve done a few things we wanted to do,” added Arteta, but he has encountered frustration since then.
“There are a lot of question marks still to be resolved. Anything is possible and there is still a lot of things to be done and a lot of clubs involved. But I am willing to work with the players I have at the moment.”
One of those is Pierre-Emerick Aubameyang. The captain turned 32 in the summer and had his worst season, with just 10 league goals, since 2010-11 last year. Arsenal could do with seeing the Aubameyang of old.
“Since he came back he looked in the right mindset and he’s trying to put last season, which was difficult for everybody and not just for him, for many different reasons, and go back to the level that he can achieve,” Arteta said.
Arsenal finished the campaign with five straight wins but still unfulfilled. As rivals have spent, they risk being left behind. This season has to be better than last. “Our goal is to get the best version consistently that is going to bring us closer to winning football matches,” Arteta said. “That’s what I want from the team. [Fans] need to be excited and they need to see a team that is capable of competing with those teams because our history is related to that. Nobody can deny that. That's the aim and that should be the objective.”
Five players Arsenal should look to sign this transfer window
First Person
Richard Flanagan
Chatto & Windus
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
COMPANY%20PROFILE
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MATCH INFO
Manchester City 3 (Silva 8' &15, Foden 33')
Birmginahm City 0
Man of the match Bernado Silva (Manchester City)
UAE%20SQUAD
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MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
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.”
UAE currency: the story behind the money in your pockets
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GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
Company name: Farmin
Date started: March 2019
Founder: Dr Ali Al Hammadi
Based: Abu Dhabi
Sector: AgriTech
Initial investment: None to date
Partners/Incubators: UAE Space Agency/Krypto Labs
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
The%20Iron%20Claw
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'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press
MATCH INFO
Newcastle United 2 (Willems 25', Shelvey 88')
Manchester City 2 (Sterling 22', De Bruyne 82')
Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
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.
The five new places of worship
Church of South Indian Parish
St Andrew's Church Mussaffah branch
St Andrew's Church Al Ain branch
St John's Baptist Church, Ruwais
Church of the Virgin Mary and St Paul the Apostle, Ruwais
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
COMPANY%20PROFILE
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CHELSEA SQUAD
Arrizabalaga, Bettinelli, Rudiger, Christensen, Silva, Chalobah, Sarr, Azpilicueta, James, Kenedy, Alonso, Jorginho, Kante, Kovacic, Saul, Barkley, Ziyech, Pulisic, Mount, Hudson-Odoi, Werner, Havertz, Lukaku.
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THE BIO
Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old
Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai
Favourite Book: The Alchemist
Favourite quote: Failing to prepare is preparing to fail
Favourite place to Travel to: Vienna
Favourite cuisine: Italian food
Favourite Movie : Scent of a Woman