Having not long collected another Saudi Pro League player of the month award, Cristiano Ronaldo racked up one more milestone to go with it.
The Al Nassr captain swept home his side’s fourth in the 5-1 victory at Al Hazem on Saturday, the goal not so much majorly impacting the match as embroidering it.
Yet, for Ronaldo, it signified a fresh mark hit. The five-time Ballon d’Or winner struck the 850th goal of an already prodigious professional career, this final-phase Ronaldo, now 38, showing little sign of slowing down.
“[Eight-hundred and 50] career goals and still counting!” read the last line of his post-match post on social media, Ronaldo never one to miss a personal beat.
To be fair, he had already paid homage to his resurgent team.
“Another great performance! We keep improving,” the same message began.
Nassr seem to be doing just that. After a stuttering start to the 2023/24 Saudi Pro League (SPL) season, last year’s runners-up have rebounded in spectacular fashion. Saturday’s win made it three on the bounce, those opening twin defeats swiftly consigned to memory. The trio of victories have brought 14 goals, with only one conceded.
Ronaldo, as is his MO, has been integral to the turnaround. The Portuguese forward, who missed through injury the league opener at Al Ettifaq, has six goals in those three games, vaulting to the top of the division’s scoring charts. What’s more, he sits at the summit for assists, too, alongside ever-improving teammate Abdulrahman Ghareeb, on four.
It speaks to Ronaldo’s all-round contribution thus far. On Saturday, he surged forward to play in Ghareeb to break the deadlock; for Nassr’s third, he ran onto a Marcelo Brozovic pass and squared to Otavio for his compatriot to score the simplest of first goals for the club.
Clearly, Ronaldo is thriving in a new-look Nassr. After failing to fire the Riyadh team to last season’s title – signed in late December, he still struck 14 goals in 16 matches – Ronaldo called for major reinforcement of the squad.
So Nassr, since June one of four teams majority controlled by the Public Investment Fund, were among the most active in the summer market. With Brozovic on board, they added Lens captain Seko Fofana, Manchester United full-back Alex Telles, African player of the year Sadio Mane, Manchester City treble winner Aymeric Laporte and Portugal international winger Otavio. With the latter two arriving late, Nassr have finally hit their stride.
Working behind the scenes, Ronaldo is understood to have been key to the identification of suitable signings. Nassr, and the collaboration that involves the SPL and other entities, have delivered.
The feeling is, whereas last season Ronaldo bemoaned privately what he perceived a dearth in quality within the side, he has been buoyed by the business completed.
Of course, rivals have strengthened significantly also – primarily champions Al Ittihad, Al Hilal and Al Ahli – but Ronaldo no longer carries the burden in totality for Nassr. And, patently, he is enjoying the release, even if some matches have been marked by outbursts, whether at officials or opposition.
Ronaldo's delight at winning a first trophy with Nassr at last month’s King Salman Club Cup was evident, and no doubt he will be aiming for Asian Champions League success following recent qualification for the group stage.
The domestic league, though, forms his focus. A serial title winner with Manchester United, Real Madrid and Juventus, Ronaldo will recognise the challenge ahead in the revamped SPL, a landscape he has gone some way to moulding.
In rude health – he finished top scorer in the King Salman Club Cup, with six goals – Ronaldo will hope the international break does not stymie Nassr’s progress; his neither: in 11 appearances in all for club this campaign, he has 12 goals and five assists.
In his apparent twilight, but aided considerably by Nassr’s summer splurge, for the moment Ronaldo appears right where he wants to be: the leading light in a league now full of them.
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PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
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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.”
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
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What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
'Nope'
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Specs
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Sholto Byrnes on Myanmar politics