Barcelona manager Xavi Hernandez has warned his squad that they cannot use their current injury list as an excuse for failure going into the Champions League last-16 second leg against Naples on Tuesday.
The two sides drew 1-1 at Stadio Diego Armando Maradona in February which saw Robert Lewandowski put Barca into a second-half lead only for Victor Osimhen to salvage a draw for Napoli 15 minutes from time, in what was Francesco Calzona's first game in charge of the Serie A side.
Barcelona are aiming to reach the quarter-finals of the competition they last won in 2015 but will be without three key midfielders in Pedri, Gavi and Frenkie de Jong, as well as attacker Ferran Torres and left-back Alejandro Balde.
The Catalonians defeated Mallorca 1-0 in La Liga on Friday thanks to a sensational goal from 16-year-old Lamine Yamal and are third in the table, one point behind Girona and eight shy of leaders Real Madrid.
And Xavi believes his squad must forget about the missing players and concentrate on reaching the quarter-finals while urging his teenage stars Pau Cubarsi and Yamal to seize the opportunity and demanding a “magic night” at the club's temporary Olympic Stadium.
“It's the moment to be able to reach the quarter-finals, for four years we haven't got to the last eight of the Champions League, I see it as an opportunity,” said the coach ahead of taking on the reigning Italian champions who are seventh in the standings and 31 points adrift of leaders Inter Milan.
“It's true that we have players out, but it's not an excuse. It's an opportunity. To Lamine and Cubarsi, the same, that they enjoy it, that at 16 and 17 years old it is spectacular that they can be there, it is an opportunity to be among the eight best in Europe, that they compete.
“With Barcelona united, with the stadium full, we have to live a magic night. The players have to feel the support of the fans.”
Despite leading Barcelona to the Spanish title last season, Barca are off the pace in third in La Liga, out of the Copa del Rey and were thrashed by Real Madrid in the Spanish Super Cup.
And in January, Xavi announced he would be leaving at the end of the season, saying Barca needed “a change of dynamic” and that he had been worn down by the pressured of leading one of the world's biggest clubs.
And now the Champions League is Xavi's best chance of ending his reign on a high. “I am not the important thing here, the club is the important thing – I have an expiry date,” he insisted.
“It’s a day of being united and I’m going to tell the players not to be afraid, that we have to take a step forward to be in the quarter-finals after four years without.”
After the match last week, Mallorca coach Javier Aguirre gave Yamal, who became the youngest player ever to feature in the Champions League knockout stage when he started in Naples, the ultimate of compliments when he compared him to Barcelona's greatest player, Lionel Messi.
“I saw Messi 21 years ago, when he was a youth,” said the Mexican coach. “They told me to go see him and I had enough in five minutes. He was as fast as a rat. And Lamine is similar. If he continues like this he is going to give many joys to Barcelona.”
With veteran striker Lewandowski playing inconsistently and winger Ousmane Dembele departing for Paris Saint-Germain last summer, Yamal has become a vital source of goals and inspiration for Barcelona.
The forward has netted six goals and provided seven assists in 37 appearances across all competitions this season, many as a substitute.
In recent weeks he has become an essential component for Xavi, starting in nine of his last 10 appearances.
Yamal hit a brace to rescue Barcelona a 3-3 draw against Granada in La Liga in February, coincidentally against the same side he netted in October to become the division's youngest ever goalscorer.
Xavi, though, has been quick to shut down the Messi description. “Comparisons don't help him, because he is totally different, anyone who has been compared with Messi comes out losing,” he said.
“There are moments in which he has flashes of Messi, because he's left footed playing on the right and comes inside, but the comparison with the best player in history is not good, because he will lose.”
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.”
The%20specs
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
RESULTS
5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
Winner: M'A Yaromoon, Jesus Rosales (jockey), Khalifa Al Neydai (trainer)
5.30pm: Khor Al Baghal – Conditions (PA) Dh80,000 (T) 1,600m
Winner: No Riesgo Al Maury, Antonio Fresu, Ibrahim Al Hadhrami
6pm: Khor Faridah – Handicap (PA) Dh80,000 (T) 1,600m
Winner: JAP Almahfuz, Royston Ffrench, Irfan Ellahi
6.30pm: Abu Dhabi Fillies Classic – Prestige (PA) Dh110,000 (T) 1,400m
Winner: Mahmouda, Pat Cosgrave, Abdallah Al Hammadi
7pm: Abu Dhabi Colts Classic – Prestige (PA) Dh110,000 (T) 1,400m
Winner: AS Jezan, George Buckell, Ahmed Al Mehairbi
7.30pm: Khor Laffam – Handicap (TB) Dh80,000 (T) 2,200m
Winner: Dolman, Antonio Fresu, Bhupath Seemar
Griselda
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What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
