• Soccer Football - Saudi Pro League - Al Nassr v Al Okhdood - Al-Awwal Park, Riyadh, Saudi Arabia - November 24, 2023 Al Nassr's Cristiano Ronaldo and teammates applaud fans after the match REUTERS / Ahmed Yosri
    Soccer Football - Saudi Pro League - Al Nassr v Al Okhdood - Al-Awwal Park, Riyadh, Saudi Arabia - November 24, 2023 Al Nassr's Cristiano Ronaldo and teammates applaud fans after the match REUTERS / Ahmed Yosri
  • Al Nassr's Cristiano Ronaldo scored twice in a 3-0 win on Friday. Reuters
    Al Nassr's Cristiano Ronaldo scored twice in a 3-0 win on Friday. Reuters
  • Al Nassr's Cristiano Ronaldo greets Al Okhdood goalkeeper Paulo Vitor after the match. Reuters
    Al Nassr's Cristiano Ronaldo greets Al Okhdood goalkeeper Paulo Vitor after the match. Reuters
  • Cristiano Ronaldo scored two sublime goals against Al Okhdood in Riyadh's Al Awal Park Stadium. AFP
    Cristiano Ronaldo scored two sublime goals against Al Okhdood in Riyadh's Al Awal Park Stadium. AFP
  • Al Nassr's Cristiano Ronaldo fights for the ball with Al Okhdood's Hussain Al Zabdani. AFP
    Al Nassr's Cristiano Ronaldo fights for the ball with Al Okhdood's Hussain Al Zabdani. AFP
  • Al Nassr's Cristiano Ronaldo has been in fine form in the Saudi Pro League. Reuters
    Al Nassr's Cristiano Ronaldo has been in fine form in the Saudi Pro League. Reuters

'Everything is possible' for Cristiano Ronaldo after stunning brace for Al Nassr


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Al Nassr manager Luis Castro said Cristiano Ronaldo and goals are a perfect match after the forward's stunning double against Al Okhdood took his tally to 15 goals in 13 Saudi Pro League games this season.

Five-time Ballon d’Or winner Ronaldo, the top scorer in SPL, netted twice in the 77th and 80th minutes to seal Al Nassr’s 3-0 victory at Al Awwal Park in Riyadh on Friday night.

Ronaldo’s first goal saw him power home a right-footed shot at the near post from an acute angle. It was his second goal, however, that stole the show.

Seizing on a ricochet from opposition goalkeeper Paulo Vitor’s tackle outside his box, Ronaldo intercepted the ball 40 yards out before side-footing a sublime lob over the head of the keeper.

Castro said: “Goals and Cristiano are a perfect mix (locking his fingers). The second goal, Cristiano shows perfect vision. It’s very difficult to do this, but Cristiano is different. When you are number one in the world, everything is possible.

“Cristiano is a fantastic player. Cristiano has had fantastic moments this season and it’s just natural for him. He is a pleasure to work with in training and playing.”

Sami Al Najei had earlier put his team in front against Al Okhdood after 13 minutes. The result took Al Nassr to 34 points from 14 SPL games. Second-placed Al Nassr now sit one point behind Riyadh rivals and table toppers Al Hilal. The two clubs meet in a much-anticipated Riyadh derby on Friday.

Al Okhdood's Slovakian manager Martin Sevela, who was appointed at the beginning of the month, said the match was a good learning experience for his players.

Sevela said: “Al Nassr’s players are high quality. The first goal, it’s a good first touch by Ronaldo and good strike. The second it was high quality from Ronaldo. He only needed one touch and to score that goal is difficult. He is high quality. He is 38 years old, but he is top level.”

Al Okhdood are 16th in the 18-team league. Their next match is at home to Steven Gerrard’s Al Ettifaq next Saturday.

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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.”

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Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Updated: November 25, 2023, 12:03 PM