The UAE must match last month’s memorable performance against South Korea in their quest to come through the 2022 World Cup play-offs and book a place at the global finals, says team manager Yasser Salem.
The national team, aiming to become only the second Emirati side to qualify for a World Cup, sit two matches from football’s showpiece event, with the first play-off to take place on June 7, against Australia in Doha. Should they win, the UAE will face Peru six days later for a place in the World Cup. That match also takes place in Qatar.
Rodolfo Arruabarrena’s side advanced to the play-offs by finishing third in Group A in the final round, sealing their spot with a 1-0 victory against group leaders South Korea in the finale in Dubai. It represented only Arruabarrena’s second match in charge.
Speaking on Thursday as the UAE set out preparations for the play-offs, Salem said: “We did a good job against South Korea, so we have to build on that performance for the next game. To play with confidence, with fight, with spirit; we don’t make ourselves small against Australia. Because we have a good example already against South Korea.”
The UAE will have two full weeks in training camp for the Australia game, with the squad meeting on May 24 – the day after the conclusion to the 2021/22 Adnoc Pro League season. Any players selected from Sharjah and Al Wahda will join the camp immediately following their clubs contesting the President’s Cup final on May 27.
The UAE also plan to play a friendly for May 30 or 31 – the opponent is expected to be confirmed this weekend – before travelling to Doha on June 1.
Asked how important it is for the players to fully grasp how close they are to qualifying for the World Cup, Salem said: “This is a very important point. We have to prepare the players for this, because we have to concentrate first on Australia only. Because the Australia game is the key for the next game.
“For us [as technical staff], we have prepared for the whole period, but the players have to concentrate on Australia only. You don’t want to make the mistake of Italy [in their World Cup play-off last month]. They thought about playing Portugal [in the decider] and lost the first game against North Macedonia.”
Salem added: “We have a strong game against Australia; we have to be ready for this game. This camp is very important in every way for the coach, and for us as management, in how to prepare the players physiologically. And also the medical team in terms of player recovery, especially because the camp comes at the end of the season, when in May they play lots of matches with pressure.”
Salem said the fact the play-offs are being staged in Qatar should be an advantage for the UAE.
“This good for us because it’s close for our fans, our supporters, to be with us,” he said. “The pitch will, I think, be air-conditioned, but also the weather, this is a good weapon that we have to use for this game.”
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PREMIER LEAGUE TABLE
1 Man City 26 20 3 3 63 17 63
2 Liverpool 25 17 6 2 64 20 57
3 Chelsea 25 14 8 3 49 18 50
4 Man Utd 26 13 7 6 44 34 46
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5 West Ham 26 12 6 8 45 34 42
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6 Arsenal 23 13 3 7 36 26 42
7 Wolves 24 12 4 8 23 18 40
8 Tottenham 23 12 4 8 31 31 39
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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
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.”
