Lionel Messi will return to Barcelona 'after contract with PSG ends'

Lionel Messi has said he will return to live in Barcelona after his contract with Paris Saint-Germain ends and would like to become a technical director when he retires from playing, preferably at his former club.

Messi ended a two-decade era at Barca this summer after the financially-troubled La Liga club were unable to afford his new contract, despite the Argentine agreeing to a 50 per cent pay cut.

The 34-year-old forward soon after agreed terms on a two-year deal with French giants PSG, but in an interview with Spanish outlet Sport, he said he is already targeting a return to his old city for when he hangs up his boots.

"What is almost confirmed ... is that we are going to live in Barcelona again and that our life will be there," said Messi, who is Barca's record scorer with 672 goals and helped the club win 24 major trophies.

"It's what my wife wants and what I want. I don't know when my contract with PSG ends but we'll go back to Barcelona to live.

"I always said that I would love to be able to help the club ... I would love to be a technical director at some point. I don't know if it will be at Barcelona or not.

"If there is a possibility, I would like to contribute again because it's the club that I love and I would love for it to continue doing well, to continue growing and to continue being one of the best in the world."

Barcelona have certainly struggled since Messi left the Camp Nou in the summer. The Catalans are ninth in La Liga, nine points behind leaders Real Sociedad, and have won just four of their 11 league games so far. They are not faring much better in the Champions League and sit third in Group E having edged past bottom side Dynamo Kiev in their last outing following successive 3-0 defeats to Bayern Munich and Benfica.

Barca's disappointing start to the season has resulted in manager Ronald Koeman getting sacked after 14 months in the dugout.

While PSG are in much healthier shape - Maurcio Pochettino's side top both Ligue 1 and their Champions League group - Messi's early months in the French capital have not gone entirely to plan.

The Argentine has struggled with a few injury setbacks and is yet to get off the mark after five Ligue 1 matches, although he has scored three goals in as many games in the Champions League.

Messi limped off injured in PSG's 2-1 win over champions Lille on Friday but Pochettino is hopeful he will be available for this week's Champions League game at RB Leipzig.

Barcelona take on Dynamo on Wednesday as they aim for a second Champions League win.

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Name: Carzaty

Founders: Marwan Chaar and Hassan Jaffar

Launched: 2017

Employees: 22

Based: Dubai and Muscat

Sector: Automobile retail

Funding to date: $5.5 million

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Director: Jon M Chu

Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey

Rating: 4/5

The BIO:

He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal

He ascended Mount Everest the next year from the more treacherous north Tibetan side

By 2015, he had completed the Explorers Grand Slam

Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border

He carries dried camel meat, dried dates and a wheat mixture for the final summit push

His new goal is to climb 14 peaks that are more than 8,000 metres above sea level

Cultural fiesta

What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421, Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day.

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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.”

Other IPL batting records

Most sixes: 292 – Chris Gayle

Most fours: 491 – Gautam Gambhir

Highest individual score: 175 not out – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)

Highest strike-rate: 177.29 – Andre Russell

Highest strike-rate in an innings: 422.22 – Chris Morris (for Delhi Daredevils against Rising Pune Supergiant in 2017)

Highest average: 52.16 – Vijay Shankar

Most centuries: 6 – Chris Gayle

Most fifties: 36 – Gautam Gambhir

Fastest hundred (balls faced): 30 – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)

Fastest fifty (balls faced): 14 – Lokesh Rahul (for Kings XI Punjab against Delhi Daredevils in 2018)

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What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

Lionel Messi will return to Barcelona 'after contract with PSG ends'

Argentine forward says he will move back to live in the city and would like to become a technical director after he retires from playing

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Cultural fiesta

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Other IPL batting records

Infiniti QX80 specs

What are NFTs?