Before the end of last season, Manchester United identified Harry Kane as the number one striker that Erik ten Hag wanted to bring to the club.
The logic was simple: he’s a proven, consistent, goalscorer in the Premier League. Though all his staff rated Kane, some thought there were other younger prospects out there who would be better signings for United.
It was money, complying with Financial Fair Play rules and the limited likelihood of getting Kane from Tottenham Hotspur that saw United cool on Kane. The club also wanted to avoid a repeat of the Frenkie de Jong saga last summer, which went on for months and led to no signing.
Attentions switched to signing Chelsea midfielder Mason Mount and a new goalkeeper, Andre Onana from Internazionale. United still want a striker and are actively interested in Randal Kolo Muani, 24, from Eintracht Frankfurt.
Muani, a former winger, is rated by United for his quick feet, ability to beat players as well as score. He also has the height that would be useful when defending set pieces.
Rasmus Hojlund, the 20-year-old Danish striker at Atalanta and Mohammed Kudus, the 22-year-old Ghanian striker who Ten Hag also managed at Ajax, are also of firm interest to United.
All will be expensive, though United think one of them would be a more realistic options than Kane. United are also not interested in Kylian Mbappe and have had no contact with PSG about him.
Marcus Rashford was the standout striker last season and was delighted to sign a new contract last week. Jadon Sancho, who scored a fine goal against Arsenal in front of 82,282 at New Jersey’s MetLife Stadium on Saturday and is playing well pre-season would only be allowed to leave if there was a considerable offer for him.
Manchester United salaries 2023/24 – in pictures
The same applies to talented but injury-prone forward Antony Martial. United need to sell players to bring money in, but there could be some movement with the existing forward players at the club.
Facundo Pellistri is another of the club’s forwards. The 21-year-old Uruguayan showed promise last season, usually from the bench. He only played 280 minutes all season though and wants to play more. The National spoke to him after the win against Arsenal.
“I’m feeling great,” he said. “Now it’s pre-season and we have to work, work and work.”
Asked what he’s hoping for this season, he replied: “To play. In my position and at my age, what you want is to play. We are looking forward to find the best solution to do that. I may stay or go on loan. It has not been decided.
“I have spoken to the manager and we are working together to find the best club, the best way, the best option. I am happy with that way because we are all in the same position. I felt amazing whenever I played for Manchester United. I want more of that.”
Pellistri, whose former manager Diego Forlan was with United in New York, feels settled and supported by the other players at United.
“The ones who speak Spanish, I’m naturally closer to them, but I find help from all the players,” he said.
“It’s a good team here and the new players have settled and this team is improving. We are Man United. Every player wants to come here, the best players in the world. In that way we are improving the squad, the tactics that the manager wants. We are improving.”
A young United side will play Wrexham in a sell-out game in San Diego on Tuesday, before the first team plays Real Madrid in Houston on Wednesday and Borussia Dortmund in Las Vegas on Sunday.
UAE currency: the story behind the money in your pockets
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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.”
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
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- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
'Manmarziyaan' (Colour Yellow Productions, Phantom Films)
Director: Anurag Kashyap
Cast: Abhishek Bachchan, Taapsee Pannu, Vicky Kaushal
Rating: 3.5/5