Managers will meet on Monday to discuss the Covid-19 crisis engulfing the Premier League, with Newcastle's Eddie Howe saying the top flight’s integrity is on a knife edge.
Five of this weekend’s 10 scheduled matches have already been postponed due to positive Covid tests, and Aston Villa's Steven Gerrard revealed a meeting was being organised to tackle the managers' “concerns and unanswered questions”, in particular around the criteria used by the Premier League board to grant approval to a postponement.
Newcastle boss Howe is worried the incomplete fixture list makes the league “disjointed” and fears if more games are called off in the coming days, there could be questions around the competition’s integrity.
“I don’t think we want half the games played and half not played,” he said.
“The league really loses something if it becomes disjointed in terms of games played. When you start losing players to Covid then the worry is the competition becomes slightly unfair and I don’t think anyone wants to see that.
“A decision needs to be made to ensure integrity is maintained in the competition. I think it is on a knife edge.
“People want to see a fair league and not disparity in games and players missing.
“I’m desperate to continue the programme myself but the welfare of the players and supporters has to come first.”
Howe’s side are due to face champions Manchester City on Sunday.
City boss Pep Guardiola has been cleared to travel with his team after testing negative for Covid. He had to cancel his pre-match press conference earlier on Friday after returning an inconclusive result which necessitated a follow-up test.
Liverpool manager Jurgen Klopp is not against calling a brief halt to the Premier League amid mounting Covid cases but said: “I just don’t see 100 per cent the benefit of it.
“Stopping the league means we stop now for one to two weeks, it means (missing) five to six games. So when do you want to play them?”
His Villa counterpart Gerrard revealed managers and top-flight captains would have the chance to discuss the criteria for postponement after a number of bosses called for clarity.
“On the back of what a lot of managers have said, we want the same thing which is for the game to continue. There are obviously a lot of concerns and a lot of unanswered questions,” he said.
Arsenal boss Mikel Arteta echoed the call for clarity, after his side’s request to have their opening match of the season at Brentford postponed was rejected.
“We have been here on the other side of the table (at the start of the season) where we had all the arguments in the world to not play a football match and we ended up playing it,” the Spaniard said.
The rules governing Covid-19 postponements were voted on by the clubs, including Arsenal, and are set out in Appendix 17 of the Premier League’s 2021-22 handbook.
Each decision is taken on a case-by-case basis, but clubs are guided that if 14 or more players are available then permission will not be granted to postpone.
Clubs will be expected to utilise under-21 players with suitable experience in the Premier League, the EFL or overseas.
However the board do also consider medical advice from clubs on whether it is deemed to be an uncontrollable outbreak, in which case it is seen as unsafe to bring players together.
Tottenham’s match against Brighton last Sunday was the first to be called off for Covid-19 reasons after an outbreak at Spurs.
They are now set to play against Liverpool this weekend, and their manager Antonio Conte said: “We are ready to follow the rules and I think it’s the most important thing. If there are rules, then for sure the rules have to be the same for all the teams.”
EA Sports FC 25
Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
Rating: 3.5/5
Pad Man
Dir: R Balki
Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte
Three-and-a-half stars
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Day 2, stumps
Pakistan 482
Australia 30/0 (13 ov)
Australia trail by 452 runs with 10 wickets remaining in the innings
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.”
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THE SPECS
Engine: 4.4-litre V8
Transmission: eight-speed automatic
Power: 523hp
Torque: 750Nm
Price: Dh469,000
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Match info
Deccan Gladiators 87-8
Asif Khan 25, Dwayne Bravo 2-16
Maratha Arabians 89-2
Chadwick Walton 51 not out
Arabians won the final by eight wickets
Zayed Sustainability Prize