Arsenal manager Mikel Arteta has urged his players to look after themselves while away on international duty before returning for the Premier League run-in. AP Photo
Arsenal manager Mikel Arteta has urged his players to look after themselves while away on international duty before returning for the Premier League run-in. AP Photo
Arsenal manager Mikel Arteta has urged his players to look after themselves while away on international duty before returning for the Premier League run-in. AP Photo
Arsenal manager Mikel Arteta has urged his players to look after themselves while away on international duty before returning for the Premier League run-in. AP Photo

Mikel Arteta urges Arsenal players to return from international break with same 'hunger'


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Mikel Arteta has urged his Arsenal players to "look after themselves" and return from the international break fit and hungry to continue their Premier League title bid.

A 4-1 victory over managerless Crystal Palace at home on Sunday sent the Gunners eight points clear in the title race.

One of Arteta's players sure to feature for his country is winger Bukayo Saka, who has been called up for England's upcoming Euro 2024 qualifiers against Italy and Ukraine.

Saka once again starred as he scored twice and set up the opener for Gabriel Martinelli, becoming the first Premier League player this season to reach double figures for both goals and assists.

“I want to think positively. Touch wood, but I want to think positive,” Arteta said. “They’re going to have to play games, they have to do it in the way that they do it here or possibly even better with their country.

“We are in contact with all of them, they know how to look after them and hopefully it will all work out.

“[My message is] that they really look after themselves in this period. We will look after the players that are with us here.

“That they come back with the same mindset and hunger from before to go into Leeds which is the only important game right now. We know it.”

Saka himself admitted the team will continue to give everything they can as they got back to winning ways despite crashing out of the Europa League after a shoot-out loss to Sporting Lisbon three days earlier.

“Of course we are humans and we get tired,” he said. “It is difficult sometimes but the prize at the end is worth giving everything, giving all our energy for.

“Today sometimes you can feel and see the tiredness in our bodies after playing 120 minutes and then you have to come again three days later to play here.

  • Bukayo Saka (L) celebrates with teammates after scoring Arsenal's fourth goal in the 4-1 Premier League win against Crystal Palace at Emirates stadium on March 19, 2023. AP
    Bukayo Saka (L) celebrates with teammates after scoring Arsenal's fourth goal in the 4-1 Premier League win against Crystal Palace at Emirates stadium on March 19, 2023. AP
  • Bukayo Saka scores Arsenal's fourth goal. Reuters
    Bukayo Saka scores Arsenal's fourth goal. Reuters
  • Granit Xhaka celebrates scoring Arsenal's third goal. Reuters
    Granit Xhaka celebrates scoring Arsenal's third goal. Reuters
  • Granit Xhaka celebrates scoring their third goal with Bukayo Saka, Gabriel Martinelli and Leandro Trossard. Reuters
    Granit Xhaka celebrates scoring their third goal with Bukayo Saka, Gabriel Martinelli and Leandro Trossard. Reuters
  • Jeffrey Schlupp pulls a goal back for Palace. PA
    Jeffrey Schlupp pulls a goal back for Palace. PA
  • Bukayo Saka celebrates after scoring Arsenal's second goal. AFP
    Bukayo Saka celebrates after scoring Arsenal's second goal. AFP
  • Bukayo Saka celebrates after scoring the second goal. EPA
    Bukayo Saka celebrates after scoring the second goal. EPA
  • Bukayo Saka celebrates scoring Arsenal's second goal. Action Images
    Bukayo Saka celebrates scoring Arsenal's second goal. Action Images
  • Bukayo Saka celebrates after scoring. AP
    Bukayo Saka celebrates after scoring. AP
  • Arsenal manager Mikel Arteta gives instructions from the touchline. AP
    Arsenal manager Mikel Arteta gives instructions from the touchline. AP
  • Gabriel Martinelli (c) celebrates after scoring Arsenal's opening goal. AP
    Gabriel Martinelli (c) celebrates after scoring Arsenal's opening goal. AP
  • Gabriel Martinelli scores the first. AP
    Gabriel Martinelli scores the first. AP
  • Martinelli celebrates scoring with teammates. Action Images
    Martinelli celebrates scoring with teammates. Action Images

“But we have the belief and the desire that we want to do this this year and nothing can stop us. Especially not us being tired.”

Palace remain in a relegation fight as Paddy McCarthy took charge of the Eagles for the first time following Patrick Vieira’s sacking on Friday morning.

They are without a league win in 2023 and Jeffrey Schlupp’s goal ended a run of nearly seven hours without a goal.

“It was hectic,” admitted McCarthy.

“You get called into action and you have two days. The boys gave it their all and I can’t fault their effort. They’re a great group of lads, they are great people and I definitely believe they have more than enough to get themselves out of this situation.”

Ratings

  • ARSENAL RATINGS: Aaron Ramsdale 6: Beaten by Zaha’s shot in the first half and was lucky to see the ball come off the post, onto his back and just wide. Picked out Saka with a brilliant pass in 88th minute. AFP
    ARSENAL RATINGS: Aaron Ramsdale 6: Beaten by Zaha’s shot in the first half and was lucky to see the ball come off the post, onto his back and just wide. Picked out Saka with a brilliant pass in 88th minute. AFP
  • Ben White 9: Created Arsenal’s second goal with a well-disguised pass to Saka. One of Arsenal’s best players. PA
    Ben White 9: Created Arsenal’s second goal with a well-disguised pass to Saka. One of Arsenal’s best players. PA
  • Rob Holding 8: Won almost every aerial ball he challenged for in first half. Dealt well with threat of Zaha. AP
    Rob Holding 8: Won almost every aerial ball he challenged for in first half. Dealt well with threat of Zaha. AP
  • Gabriel 8: Another game, another commanding performance from Gabriel in the centre of Arsenal's defence. He hardly put a foot wrong and kept Edouard quiet. Getty
    Gabriel 8: Another game, another commanding performance from Gabriel in the centre of Arsenal's defence. He hardly put a foot wrong and kept Edouard quiet. Getty
  • Oleksandr Zinchenko 7: His aggressiveness put Olise off his game in the first half. Almost played as a fourth midfielder for Gunners. AP
    Oleksandr Zinchenko 7: His aggressiveness put Olise off his game in the first half. Almost played as a fourth midfielder for Gunners. AP
  • Thomas Partey 7: Played a well-disguised pass to put Saka through on goal in the 13th minute. Offered good protection for Arsenal’s backline. AP
    Thomas Partey 7: Played a well-disguised pass to put Saka through on goal in the 13th minute. Offered good protection for Arsenal’s backline. AP
  • Granit Xhaka 8: Was having quiet game until he popped up to put Arsenal three up with a little chip in the 55th minute. Worked hard to help the Gunners win the midfield battle. Getty
    Granit Xhaka 8: Was having quiet game until he popped up to put Arsenal three up with a little chip in the 55th minute. Worked hard to help the Gunners win the midfield battle. Getty
  • Martin Odegaard 7: Went close with a left-footed shot in 18th minute. Should have got his name on the scoresheet with a shot that went agonisingly wide just before break. AP
    Martin Odegaard 7: Went close with a left-footed shot in 18th minute. Should have got his name on the scoresheet with a shot that went agonisingly wide just before break. AP
  • Bukayo Saka 9: Good cross to find Martinelli for first goal. Showed awareness to stay onside and beat the keeper to put Arsenal two goals up before the break. Scored his second of the day with a first-time shot into the bottom corner. AFP
    Bukayo Saka 9: Good cross to find Martinelli for first goal. Showed awareness to stay onside and beat the keeper to put Arsenal two goals up before the break. Scored his second of the day with a first-time shot into the bottom corner. AFP
  • Gabriel Martinelli 8: Opened scoring with beautiful left-footed shot into the right-hand corner. Combined well with Gabriel Jesus in the second half. EPA
    Gabriel Martinelli 8: Opened scoring with beautiful left-footed shot into the right-hand corner. Combined well with Gabriel Jesus in the second half. EPA
  • Leandro Trossard 7: Often frustrated in the first half but started the second well by putting Saka through on goal to score Arsenal’s third goal. AP
    Leandro Trossard 7: Often frustrated in the first half but started the second well by putting Saka through on goal to score Arsenal’s third goal. AP
  • SUBS: Kieran Tierney (On for Zinchenko 65') 8: Assisted Saka’s second goal of the game with a simple cross to the edge of the penalty area. Used his pace to skip past Olise and deny him opportunity to run through on goal in 80th minute. Reuters
    SUBS: Kieran Tierney (On for Zinchenko 65') 8: Assisted Saka’s second goal of the game with a simple cross to the edge of the penalty area. Used his pace to skip past Olise and deny him opportunity to run through on goal in 80th minute. Reuters
  • Gabriel Jesus (On for Trossard 65') 7: Looked very lively after coming and had two half chances to score his first goal since returning from injury. AP
    Gabriel Jesus (On for Trossard 65') 7: Looked very lively after coming and had two half chances to score his first goal since returning from injury. AP
  • Jorginho (On for White 83') N/A. Reuters Emile Smith Rowe (On for Martinelli 83') N.A
    Jorginho (On for White 83') N/A. Reuters Emile Smith Rowe (On for Martinelli 83') N.A
  • Jakub Kiwior (On for Gabriel 86') N/A. Getty
    Jakub Kiwior (On for Gabriel 86') N/A. Getty
  • CRYSTAL PALACE RATINGS: Joe Whitworth 6: Made good save to deny Odegaard from the edge of the box in first half. Excellent decision to punch come off his line and punch away Saka cross and deny Xhaka a tap-in just after the restart. Getty
    CRYSTAL PALACE RATINGS: Joe Whitworth 6: Made good save to deny Odegaard from the edge of the box in first half. Excellent decision to punch come off his line and punch away Saka cross and deny Xhaka a tap-in just after the restart. Getty
  • Joel Ward 4: Struggled badly against Martinelli in the first half, giving him time and space to open the scoring. AP
    Joel Ward 4: Struggled badly against Martinelli in the first half, giving him time and space to open the scoring. AP
  • James Tomkins 5: Allowed Xhaka too much time to lay the ball off to Trossard, run past him and chip Whitworth for Arsenal’s third. Smartly shielded Jesus off the ball in the 78th minute. Getty
    James Tomkins 5: Allowed Xhaka too much time to lay the ball off to Trossard, run past him and chip Whitworth for Arsenal’s third. Smartly shielded Jesus off the ball in the 78th minute. Getty
  • Marc Guehi 6: Made brave last-ditch sliding tackle to stop Saka from running through in goal in the 15th minute. Got caught ball watching as Trossard played the ball through to Saka for Arsenal’s third. AFP
    Marc Guehi 6: Made brave last-ditch sliding tackle to stop Saka from running through in goal in the 15th minute. Got caught ball watching as Trossard played the ball through to Saka for Arsenal’s third. AFP
  • Tyrick Mitchell 5: Failed to close down White quickly and allowed him enough space on ball to play a goal-creating pass to Saka. Arsenal's quick attackers left him bamboozled a number of times. PA
    Tyrick Mitchell 5: Failed to close down White quickly and allowed him enough space on ball to play a goal-creating pass to Saka. Arsenal's quick attackers left him bamboozled a number of times. PA
  • Luka Milivojevic 4: Struggled alongside Doucoure at the base of midfield as Arsenal dominated centre of park. AFP
    Luka Milivojevic 4: Struggled alongside Doucoure at the base of midfield as Arsenal dominated centre of park. AFP
  • Cheick Doucoure 4: Provided very little security for backline all through the game. AP
    Cheick Doucoure 4: Provided very little security for backline all through the game. AP
  • Michael Olise 4: Looked very lethargic in the first half. Should have gambled by making a run and tapping home Zaha’s cross-cum shot ball in 70th minute. AFP
    Michael Olise 4: Looked very lethargic in the first half. Should have gambled by making a run and tapping home Zaha’s cross-cum shot ball in 70th minute. AFP
  • Jeffrey Schlupp 8: Great pass to find Zaha for Palace's only real threat in the first half. Showed great Stamina to fight off Holding and score for Palace. AP
    Jeffrey Schlupp 8: Great pass to find Zaha for Palace's only real threat in the first half. Showed great Stamina to fight off Holding and score for Palace. AP
  • Wilfried Zaha 6: Almost gave Palace the lead with a shot that came off the crossbar in first half. Beaten far too easily by Saka in the build-up to Arsenal’s second goal. Tested Ramsdale with a shot from a tight angle after the restart. Reuters
    Wilfried Zaha 6: Almost gave Palace the lead with a shot that came off the crossbar in first half. Beaten far too easily by Saka in the build-up to Arsenal’s second goal. Tested Ramsdale with a shot from a tight angle after the restart. Reuters
  • Odsonne Edouard 5: The offside flag spared his blushes after he failed to beat Ramsdale when he was played through in goal. Kept quiet by Gabriel in Arsenal’s defence. Reuters
    Odsonne Edouard 5: The offside flag spared his blushes after he failed to beat Ramsdale when he was played through in goal. Kept quiet by Gabriel in Arsenal’s defence. Reuters
  • SUBS: Will Hughes (On for Milivojevic 65') 5: Worked hard but failed to offer much going forward. Reuters
    SUBS: Will Hughes (On for Milivojevic 65') 5: Worked hard but failed to offer much going forward. Reuters
  • Jordan Ayew (On for Edouard 65') 5: A willing runner but hardly had a sniff after coming on. Getty
    Jordan Ayew (On for Edouard 65') 5: A willing runner but hardly had a sniff after coming on. Getty
  • Eberechi Eze (On for Olise 82') N/A. Getty Naouirou Ahamada (On for Schlupp 82') N/A.
    Eberechi Eze (On for Olise 82') N/A. Getty Naouirou Ahamada (On for Schlupp 82') N/A.
Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
  •  14 kilometres is the length of LED lights used on the facade
  •  1,024 individual pieces make up the exterior 
  •  7 floors in all, with one for administrative offices
  •  2,400 diagonally intersecting steel members frame the torus shape
  •  100 species of trees and plants dot the gardens
  •  Dh145 is the price of a ticket
Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

SPEC%20SHEET%3A%20APPLE%20TV%204K%20(THIRD%20GENERATION)
%3Cp%3E%3Cstrong%3ECPU%3A%3C%2Fstrong%3E%20Apple%20A15%20Bionic%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%2064GB%2C%20Wi-Fi%20only%3B%20128GB%2C%20Wi-Fi%20%2B%20ethernet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206%2C%20Bluetooth%205.0%2C%20ethernet%20(Wi-Fi%20%2B%20ethernet%20model%20only)%2C%20IR%20receiver%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20HDMI%2C%20ethernet%20(128GB%20model%20only)%3B%20Siri%20remote%20(charging%20via%20USB-C)%3B%20accessibility%20features%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20SDR%2FDolby%20Vision%2FHDR10%2B%20up%20to%202160p%20%40%2060fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPeripherals%3A%3C%2Fstrong%3E%20Compatible%20with%20HD%2FUHD%20TVs%20via%20HDMI%2C%20Bluetooth%20keyboards%2C%20AirPods%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPhoto%3A%3C%2Fstrong%3E%20GIF%2C%20HEIF%2C%20JPEG%2C%20TIFF%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColour%3A%3C%2Fstrong%3E%20Black%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20TV%204K%2C%20Siri%20remote%2C%20power%20cord%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Dh529%2C%20Wi-Fi%20only%3B%20Dh599%2C%20Wi-Fi%20%2B%20ethernet%3C%2Fp%3E%0A
Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Why seagrass matters
  • Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
  • Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
  • Biodiversity: Support species like sea turtles, dugongs, and seabirds
  • Coastal protection: Reduce erosion and improve water quality

Company profile

Name: GiftBag.ae

Based: Dubai

Founded: 2011

Number of employees: 4

Sector: E-commerce

Funding: Self-funded to date

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.3-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E299hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E420Nm%20at%202%2C750rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E12.4L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh157%2C395%20(XLS)%3B%20Dh199%2C395%20(Limited)%3C%2Fp%3E%0A
Dubai works towards better air quality by 2021

Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.

The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.

These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.

“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.

“We’re in a good position except for the cases that are out of our hands, such as sandstorms.

“Sandstorms are our main concern because the UAE is just a receiver.

“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”

Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.

There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.

“There are 25 stations in total,” Mr Al Daraji said.

“We added new technology and equipment used for the first time for the detection of heavy metals.

“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”

RESULTS

Men
1 Marius Kipserem (KEN) 2:04:04
2 Abraham Kiptum (KEN) 2:04:16
3 Dejene Debela Gonfra (ETH) 2:07:06
4 Thomas Rono (KEN) 2:07:12
5 Stanley Biwott (KEN) 2:09:18

Women
1 Ababel Yeshaneh (ETH) 2:20:16
2 Eunice Chumba (BRN) 2:20:54
3 Gelete Burka (ETH) 2:24:07
4 Chaltu Tafa (ETH) 2:25:09
5 Caroline Kilel (KEN) 2:29:14

If you go

The flights 

Emirates flies from Dubai to Funchal via Lisbon, with a connecting flight with Air Portugal. Economy class returns cost from Dh3,845 return including taxes.

The trip

The WalkMe app can be downloaded from the usual sources. If you don’t fancy doing the trip yourself, then Explore  offers an eight-day levada trails tour from Dh3,050, not including flights.

The hotel

There isn’t another hotel anywhere in Madeira that matches the history and luxury of the Belmond Reid's Palace in Funchal. Doubles from Dh1,400 per night including taxes.

 

 

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Sam Smith

Where: du Arena, Abu Dhabi

When: Saturday November 24

Rating: 4/5

The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

Name: Brendalle Belaza

From: Crossing Rubber, Philippines

Arrived in the UAE: 2007

Favourite place in Abu Dhabi: NYUAD campus

Favourite photography style: Street photography

Favourite book: Harry Potter

Tips for SMEs to cope
  • Adapt your business model. Make changes that are future-proof to the new normal
  • Make sure you have an online presence
  • Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
  • Open communication with customers to see how they are coping and be flexible about extending terms, etc
    Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
The biog

Name: Shamsa Hassan Safar

Nationality: Emirati

Education: Degree in emergency medical services at Higher Colleges of Technology

Favourite book: Between two hearts- Arabic novels

Favourite music: Mohammed Abdu and modern Arabic songs

Favourite way to spend time off: Family visits and spending time with friends

Need to know

When: October 17 until November 10

Cost: Entry is free but some events require prior registration

Where: Various locations including National Theatre (Abu Dhabi), Abu Dhabi Cultural Center, Zayed University Promenade, Beach Rotana (Abu Dhabi), Vox Cinemas at Yas Mall, Sharjah Youth Center

What: The Korea Festival will feature art exhibitions, a B-boy dance show, a mini K-pop concert, traditional dance and music performances, food tastings, a beauty seminar, and more.

For more information: www.koreafestivaluae.com

FIGHT%20CARD
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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.”

Updated: March 20, 2023, 8:05 AM