The summer transfer window closes at 11pm UK time on Friday in England. At Manchester United, the club feel that they did their incoming business early in signing midfielder Mason Mount, goalkeeper Andre Onana and forward Rasmus Hojlund, who is expected to feature in games from now on having arrived with a back injury.
United spent £163 million ($205 million) before add-ons on that trio and the club are happy with where they are in the window. Experienced defender Jonny Evans, 35, is expected to sign a one-year deal.
It’s a long way from a decade ago when United chased players all summer and didn’t sign one until Marouane Fellaini completed a move from Everton minutes before the deadline. Then, United were champions. Now, United haven’t won the league since 2013.
There will be more activity this week. Goalkeeper Dean Henderson will join Crystal Palace. It was thought he would stay at United after a move to Nottingham Forest didn’t materialise by the start of August; United will replace Henderson with Altay Bayindir from Fenerbahce for a fee of €5 million ($5.4 million).
Injuries to the first and second-choice left backs, Luke Shaw and Tyrell Malacia, have given Erik ten Hag and his staff a dilemma.
United are deciding whether the solution is an internal one with Diogo Dalot switching flanks, as he did against Nottingham Forest on Saturday. The other option is to use Alvaro Fernandez, a 20-year-old Spaniard, who impressed on loan at Championship side Preston North End last season and featured in the first team pre-season.
There has been no shortage of agents willing to link their left-backs with United. Sources at Barcelona said they would be extremely surprised if Marcos Alonso left the club to join United on loan.
Several players have left, through, either their contract expiring (David de Gea, Phil Jones, Axel Tuanzebe, Charlie Wellens, Di’Shon Bernard), a sale (Antony Elanga, Fred, Matej Kovar, Alex Telles, Zidane Iqbal, Ethan Laird, Charlie Savage, Nathan Bishop, Noam Emeran) or loan (Brandon Williams, Will Fish). In the case of Williams, United will heavily subsidise his wages.
United have brought in around £38 million (before add-ons) from the sales of Elanga, Fred, Telles and Kovar. Henderson, 26, will bring in another £15 million, plus £5 million in appearance related add-ons.
United and West Ham did agree a figure of £30 million for defender Harry Maguire earlier in the month, but personal terms were never agreed between the player and the London club. West Ham don’t have a player on close to Maguire’s wages and a settlement would have been needed between United and the defender. Maguire never spoke to West Ham manager David Moyes.
The Hammers have since been told that Maguire is staying at United and it’s understood that Ten Hag, who is the main driver in this transfer window, wants him to stay. He has always said Maguire is an important part of the squad. United have also blocked a loan move for Maguire to West Ham.
Everton also recently tried to take Maguire on loan and Fulham have shown interest, but United are not interested in letting the defender leave on a temporary basis. Maguire, like many others at United, is on a wage that only the top Premier League clubs can afford.
Though they have financial fair play issues, one of the clubs who could afford him is Newcastle United. The Magpies suffered an injury to central defender Sven Botman on Sunday, and Dan Ashworth, Newcastle’s sporting director, has long rated Maguire from the England set up. That said, there has been no approach for the defender from Newcastle.
More players may still depart. Scott McTominay is a player United could receive considerable funds for and West Ham were interested at the start of August, yet he’s also valued at United. He’s not started any of their opening three league games, playing just two minutes against Wolves and seven against Nottingham Forest. Yet injuries to Mason Mount and Kobbie Mainoo mean United are light in midfield.
Whether Uruguayan forward Facundo Pellistri goes on loan remains in the balance. United know the 21-year-old needs matches, but he’s also been exciting in his fleeting performances for Ten Hag’s side, and the pair have been in constant communication for months. Other younger players including Hannibal Mejbri and Teden Mengi could be considered for loan moves.
United are looking for solutions for Mason Greenwood, while Donny van de Beek and Eric Bailly would also be allowed to go. The problem, as ever, is their high wages. United would rather sell players than loan them out, especially if they have to subsidise their salaries, though they know a player’s value will increase if he’s playing regularly in a top league. That doesn’t always work out, as United experienced when Antony Martial went to Sevilla last year.
United are constrained by the Premier League profit and sustainability standards but if there are more departures, they would go back into the market and try to sign a midfielder, but there have been no offers for any midfield players so far.
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The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
MATCH INFO
Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai
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.”
UAE currency: the story behind the money in your pockets
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Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Simran
Director Hansal Mehta
Stars: Kangana Ranaut, Soham Shah, Esha Tiwari Pandey
Three stars
ULTRA PROCESSED FOODS
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars
- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes
- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Matches 68; Wins 35; Draws 19; Losses 14; Goals For 133; Goals Against 82
- Eighth place in Premier League in 2015/16
- Runners-up in Europa League in 2016
- Runners-up in League Cup in 2016
- Fourth place in Premier League in 2016/17
The specs
Engine: 4.0-litre, twin-turbocharged V8
Transmission: nine-speed automatic
Power: 630bhp
Torque: 900Nm
Price: Dh810,000
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
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Jetour T1 specs
Engine: 2-litre turbocharged
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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
