Xavi Hernandez made a winning start as Barcelona coach on Saturday as a dubious Memphis Depay penalty was enough to defeat local rivals Espanyol 1-0 in La Liga.
Depay's strike at the start of the second half ensured Xavi's homecoming at Camp Nou ended in victory, but a nervy one that will have left him under no illusions about the difficulty of the task ahead.
Raul de Tomas twice struck the post late on as Espanyol spurned a flurry of late chances that really should have seen them take a draw from a game Barca dominated for an hour and then almost let slip from their grasp.
Results, though, must come quickly and this one lifts Xavi's team from ninth in the table to sixth, six points behind Atletico Madrid, who earlier needed a late Felipe header to win 1-0 at home to Osasuna after Sevilla were held to a 2-2 draw by Alaves.
There was also an undeniable uplift in mood at Camp Nou, with the 74,418 attendance almost double the 37,278 that watched Barca draw here against Alaves two weeks ago.
At his unveiling last week, Xavi had emphasised the need for “rules” and even before kick-off there were signs of a shift. The players rolled into Camp Nou under a plume of red smoke, with the squad arriving all together on the team bus.
Barcelona's XI boasted eight La Masia graduates, including Ilias Akhomach, who was handed his debut. Ilias was the second 17-year-old in Xavi's first starting line-up along with Gavi and when he was replaced at half-time, on came the 19-year-old Abde Ezzalzouli.
In the warm-up, there was a more intense exercise of attack against defence and when Depay scored it was perhaps not just relief that saw all 10 outfield players celebrating together in the corner.
The football was faster and more fun. Barcelona's players seemed liberated in the final third, where passes were flicked, scooped and back-heeled. The best of them, by Gavi, led to Depay winning the penalty.
They started in a 4-3-3 with both Gavi and Ilias hugging the touchlines and stretching Espanyol's defence out wide.
As well as the additional width, there was a clear intention to hunt the ball higher up the pitch. Barca were happy to leave defenders one against one at the back if it meant more players pressing Espanyol in their own half.
Nico almost scored when he stepped into to steal a pass from goalkeeper Diego Lopez but he looked, unsuccessfully, for a penalty instead of finishing.
There were 11 shots in the first 45 minutes and plenty of chances as Depay failed to catch an early volley before Ilias blazed over from close range.
The best spell of pressure came around the half-hour mark as Nico looked certain to score from Jordi Alba's cutback but was denied and Depay was put through but his smashed shot was blocked by the chest of Lopez at the near post.
Espanyol had glimpses of their own, De Tomas the main threat on the break. He almost punished some lethargic defending by Oscar Mingueza but the deflected finish was tipped over.
Ilias was replaced by Abde at half-time and less than a minute into the second half, Barcelona had a penalty, Depay going over after superb, heeled pass by Gavi. Leandro Cabrera clearly touched the ball but the decision stood and Depay made no mistake.
Abde almost scored a brilliant second after darting between two Espanyol defenders but without the cushion, Espanyol were always in the game and a flurry of chances followed.
A quick free-kick over the top again caught out Mingueza but De Tomas fired wide, before three openings came in five minutes.
De Tomas' free-kick drew gasps when it shaved the outside of the post. Fran Merida was free three yards out but somehow headed wide. De Tomas headed towards goal, leaving goalkeeper Marc-Andre ter Stegen rooted, but again the ball hit the post.
Xavi threw on central defender Ronald Araujo for extra solidity. In the 96th minute, Wu Lei threw one last foot at a loose ball in the area but Ter Stegen, and Barca, held on.
Mohammed bin Zayed Majlis
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
360Vuz PROFILE
Date started: January 2017
Founder: Khaled Zaatarah
Based: Dubai and Los Angeles
Sector: Technology
Size: 21 employees
Funding: $7 million
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin
PROVISIONAL FIXTURE LIST
Premier League
Wednesday, June 17 (Kick-offs uae times) Aston Villa v Sheffield United 9pm; Manchester City v Arsenal 11pm
Friday, June 19 Norwich v Southampton 9pm; Tottenham v Manchester United 11pm
Saturday, June 20 Watford v Leicester 3.30pm; Brighton v Arsenal 6pm; West Ham v Wolves 8.30pm; Bournemouth v Crystal Palace 10.45pm
Sunday, June 21 Newcastle v Sheffield United 2pm; Aston Villa v Chelsea 7.30pm; Everton v Liverpool 10pm
Monday, June 22 Manchester City v Burnley 11pm (Sky)
Tuesday, June 23 Southampton v Arsenal 9pm; Tottenham v West Ham 11.15pm
Wednesday, June 24 Manchester United v Sheffield United 9pm; Newcastle v Aston Villa 9pm; Norwich v Everton 9pm; Liverpool v Crystal Palace 11.15pm
Thursday, June 25 Burnley v Watford 9pm; Leicester v Brighton 9pm; Chelsea v Manchester City 11.15pm; Wolves v Bournemouth 11.15pm
Sunday June 28 Aston Villa vs Wolves 3pm; Watford vs Southampton 7.30pm
Monday June 29 Crystal Palace vs Burnley 11pm
Tuesday June 30 Brighton vs Manchester United 9pm; Sheffield United vs Tottenham 11.15pm
Wednesday July 1 Bournemouth vs Newcastle 9pm; Everton vs Leicester 9pm; West Ham vs Chelsea 11.15pm
Thursday July 2 Arsenal vs Norwich 9pm; Manchester City vs Liverpool 11.15pm
'C'mon C'mon'
Director:Mike Mills
Stars:Joaquin Phoenix, Gaby Hoffmann, Woody Norman
Rating: 4/5
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
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Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.
6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m
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7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m
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7.30pm: Maiden (TB) Dh80,000 1,600m
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TO A LAND UNKNOWN
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Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
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2pm: Al Sahel Contracting Company – Maiden (PA) Dh50,000 (Dirt) 1,200m; Winner: AF Mutakafel, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
2.30pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,200m; Winner: El Baareq, Antonio Fresu, Rashed Bouresly
3pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,950m; Winner: Lost Eden, Andrea Atzeni, Doug Watson
3.30pm: Keeneland – Handicap (TB) Dh84,000 (D) 1,000m; Winner: Alkaraama, Dane O’Neill, Musabah Al Muhairi
4pm: Keeneland – Handicap (TB) Dh76,000 (D) 1,800m; Winner: Lady Snazz, Saif Al Balushi, Bhupat Seemar
4.30pm: Hive – Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer
5pm: Dubai Real Estate Centre – (TB) Handicap Dh64,000 (D) 1,600m; Winner: Lahmoom, Royston Ffrench, Salem bin Ghadayer
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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The specs: 2018 Nissan 370Z Nismo
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Price, base / as tested: Dh182,178
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Transmission: Seven-speed automatic
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Ousmane Dembélé (Paris Saint-Germain / France)
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Kopa Trophy (Best player under 21 – Men’s)
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Yashin Trophy (Best Goalkeeper – Men’s)
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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.”