Manchester United clinched their first trophy in almost six years on Sunday after defeating Newcastle United 2-0 in the League Cup final at Wembley.
Casemiro opened the scoring when he headed home Luke Shaw's perfect set-piece cross in the 33rd minute and Sven Botman's own goal, deflecting a Marcus Rashford strike over goalkeeper Loris Karius, six minutes later proved the difference.
In lifting the League Cup, United have claimed their first piece of silverware since winning the Europa League in 2017 and provided tangible proof of the progress being made under manager Erik ten Hag since his appointment last summer.The celebrations that accompanied United's sixth League Cup triumph could be the first of many trophy parades on the evidence of Ten Hag's transformative first season.
United remain challengers on three other fronts, sitting third in the Premier League and with an FA Cup fifth round tie against West Ham on Wednesday followed by a Europa League last 16 tie against Real Betis in March.
After 10 years in the wilderness since Alex Ferguson retired having led them to their last Premier League title in 2013, United are finally emerging from one of the darkest periods in the club's illustrious history.
United finished a dismal sixth in the Premier League last season, but Ten Hag has swiftly masterminded their return to relevance. It was fitting that Ten Hag's maiden trophy success with United came after he met Ferguson for dinner recently and with the Scot watching from the Wembley stands.
Ending United's longest trophy drought for 40 years is no guarantee of future success, but the steely Ten Hag appears capable of thriving in the unrelenting Old Trafford spotlight.
Despite failing to win their first major trophy since the 1969 Inter-Cities Fairs Cup, Newcastle can also expect to feature in more showpiece occasions soon.
Newcastle have been revitalised since their takeover by a Saudi-funded consortium in 2021 and they competed gamely in their first cup final for 24 years. Hauled from the relegation zone by manager Eddie Howe last season, they sit fifth in the Premier League, a sleeping giant awaking after decades as the laughing stock of English football.
Newcastle's fanatical 'Toon Army' turned one half of Wembley into a roiling sea of black and white as they belted out songs of praise for their heroes well over an hour before kick-off. But that show of passion proved the highpoint of the day for Newcastle as United spoiled the party in composed style.
Newcastle had feared stand-in keeper Loris Karius might be exposed in his first major occasion since his howlers led to Liverpool's 2018 Champions League final defeat against Real Madrid.
Playing instead of the suspended Nick Pope, Karius might feel he could have done better with United's second goal, but he was not to blame for Newcastle's defeat.
Allan Saint-Maximin had toothless Newcastle's best opportunity to snatch the lead when he skipped past Diogo Dalot for a fierce strike that David De Gea repelled with an out-stretched hand.
It was a crucial save as United went ahead moments later in the 33rd minute. Shaw's free-kick arrowed towards the Newcastle six-yard box and Casemiro timed his run perfectly to glance a clinical header past Karius.
It was just reward for the latest commanding performance from the United midfielder following his move from Real Madrid last year.
United then doubled their lead in the 39th minute. Wout Weghorst's pass found Marcus Rashford inside the area and, with Newcastle's defenders slow to react, he hit a mistimed shot that deflected off Botman and looped over the wrong-footed Karius.
Newcastle laid siege to De Gea's goal in the second half but, showing the desire and organisation demanded by their manager, Ten Hag's men refused to buckle.
If United's last League Cup triumph ended up as fool's gold, this success suggests the Ten Hag era is built on far stronger foundations.
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Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Nancy 9 (Hassa Beek)
Nancy Ajram
(In2Musica)
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The five pillars of Islam
The Programme
Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
Saturday, November 16: ‘Finding Vivian Maier’ (2013) by John Maloof and Charlie Siskel
Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
Saturday, December 7: ‘Timbuktu’ (2014) by Abderrahmane Sissako
Saturday, December 21: ‘Rams’ (2015) by Grimur Hakonarson
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Roll of honour
Who has won what so far in the West Asia Premiership season?
Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain
Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons
West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins
UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles
West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles
West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles
Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens
Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins
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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.”
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5