• UAE's Caio Canedo, centre, fights for the ball during the Arabian Gulf Cup match against Qatar at the Al Minaa Olympic Stadium in Basra, Iraq, on Friday, January 13, 2023. AP
    UAE's Caio Canedo, centre, fights for the ball during the Arabian Gulf Cup match against Qatar at the Al Minaa Olympic Stadium in Basra, Iraq, on Friday, January 13, 2023. AP
  • UAE's Fabio Lima celebrates scoring their first goal. Reuters
    UAE's Fabio Lima celebrates scoring their first goal. Reuters
  • UAE manager Rodolfo Arruabarrena in Basra. Reuters
    UAE manager Rodolfo Arruabarrena in Basra. Reuters
  • UAE's Majid Rashid fights for the ball on Friday. Reuters
    UAE's Majid Rashid fights for the ball on Friday. Reuters
  • UAE's Yahya Al Ghassani, right, and Qatar's Ismail Mohammed, left, fight for the ball in Basra, Iraq. AP
    UAE's Yahya Al Ghassani, right, and Qatar's Ismail Mohammed, left, fight for the ball in Basra, Iraq. AP
  • UAE drew their game against Qatar at the Arabian Gulf Cup on Friday. Photo: UAE FA
    UAE drew their game against Qatar at the Arabian Gulf Cup on Friday. Photo: UAE FA
  • UAE exited the Arabian Gulf Cup from the group stage after a draw against Qatar. Photo: UAE FA
    UAE exited the Arabian Gulf Cup from the group stage after a draw against Qatar. Photo: UAE FA
  • UAE's Caio Canedo during the match against Qatar. Photo: UAE FA
    UAE's Caio Canedo during the match against Qatar. Photo: UAE FA
  • UAE's Walid Abbas fights for the ball against Qatar. Photo: UAE FA
    UAE's Walid Abbas fights for the ball against Qatar. Photo: UAE FA
  • Qatar's Tameem Mansour Al Abdullah celebrates with teammates after scoring against the UAE. AP
    Qatar's Tameem Mansour Al Abdullah celebrates with teammates after scoring against the UAE. AP
  • UAE drew their game against Qatar on Friday. Photo: UAE FA
    UAE drew their game against Qatar on Friday. Photo: UAE FA

UAE manager Arruabarrena expects to remain in charge despite Arabian Gulf Cup exit


John McAuley
  • English
  • Arabic

Rodolfo Arruabarrena said he expects to remain as UAE manager despite his side’s exit from the Arabian Gulf Cup at the group stage.

The national team, who entered the tournament in Iraq with designs of winning a third regional crown, drew 1-1 with Qatar on Friday night to finish bottom of Group B.

Champions in 2007 and 2013, the UAE began the Gulf Cup with successive defeats, meaning they took a solitary point from three matches in Basra.

Speaking immediately following the disappointment at Al Minaa Olympic Stadium, Arruabarrena said: “We didn't show up at the level we hoped for, and we were not lucky in the tournament.

“I have a continuous contract with the Football Association, and I have spared no effort in developing the national team and highlighting talents in the team. I have my targets and missions to accomplish, and the Football Association knows about these.”

Appointed in February, Arruabarrena has overseen a period of transition, with a number of younger players brought into the set-up. Again on Friday, he defended his decision not to select in the squad Ali Mabkhout, reiterating that he omitted the UAE’s all-time leading goalscorer for “technical and tactical reasons”.

Argentine Arruabarrena, who accepted responsibility for the UAE’s poor campaign, signed a contract initially through until the 2023 Arabian Gulf Cup. That tournament, originally scheduled for China this summer, has been moved to Qatar next January.

On Friday night, the UAE also needed Bahrain to defeat Kuwait to stand any chance of advancing to the semi-finals, although that match also finished 1-1. Against Qatar, the UAE took a deserved lead 14 minutes from time only for their rivals to equalise with two minutes remaining.

“Qualifying for the semi-finals was not in our hands because it was linked to the outcome of another match, and we were the closest to winning,” Arruabarrena said.

“We entered the match with the desire and ambition to win. In general, our level was not good in the tournament This is an appropriate moment to send messages to the fans that we were not good during the tournament and we aspired to appear at a better level.

“We need only to work to develop talents in the national team.”

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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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David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

EA Sports FC 25

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.”

 

 

Updated: January 14, 2023, 11:18 AM