• Real Madrid forward Lucas Vazquez, right, celebrates with teammates after scoring the opening goal in their 2-0 La Liga win against Celta Vigo at the Alfredo Di Stefano Stadium on January 2. AFP
    Real Madrid forward Lucas Vazquez, right, celebrates with teammates after scoring the opening goal in their 2-0 La Liga win against Celta Vigo at the Alfredo Di Stefano Stadium on January 2. AFP
  • Real Madrid manager Zinedine Zidane shakes hands with Celta Vigo counterpart Eduardo Coudet after the match. Reuters
    Real Madrid manager Zinedine Zidane shakes hands with Celta Vigo counterpart Eduardo Coudet after the match. Reuters
  • Real midfielder Luka Modric watched by Celta's midfielder Renato Tapia. EPA
    Real midfielder Luka Modric watched by Celta's midfielder Renato Tapia. EPA
  • Real Madrid's Spanish midfielder Marco Asensio celebrates after scoring the second. AFP
    Real Madrid's Spanish midfielder Marco Asensio celebrates after scoring the second. AFP
  • Real Madrid attacker Karim Benzema, left, wins a header over Celta Vigo's Iago Aspas. AP
    Real Madrid attacker Karim Benzema, left, wins a header over Celta Vigo's Iago Aspas. AP
  • Real Madrid goalkeeper Thibaut Courtois attempts to punch clear. AP
    Real Madrid goalkeeper Thibaut Courtois attempts to punch clear. AP
  • Asensio, left, celebrates with teammate Lucas Vazquez . AP
    Asensio, left, celebrates with teammate Lucas Vazquez . AP
  • Real's Marco Asensio scores their second goal. Reuters
    Real's Marco Asensio scores their second goal. Reuters
  • Real Madrid midfielder Casemiro heads the ball. AFP
    Real Madrid midfielder Casemiro heads the ball. AFP
  • Real Madrid manager Zinedine Zidane. Reuters
    Real Madrid manager Zinedine Zidane. Reuters
  • Real Madrid's Lucas Vazquez scores their first goal. Reuters
    Real Madrid's Lucas Vazquez scores their first goal. Reuters
  • Lucas Vazquez celebrates scoring. AFP
    Lucas Vazquez celebrates scoring. AFP

'A complete performance' Zinedine Zidane thrilled as Real Madrid go top of La Liga - in pictures


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Real Madrid head coach Zinedine Zidane hailed the "complete" performance of his side after they beat in-form Celta Vigo 2-0 to move top of La Liga.

Lucas Vazquez broke the deadlock after five minutes at the Alfredo Di Stefano stadium, with Marco Asensio doubling the lead early in the second half.

Los Blancos move one point clear of Atletico Madrid, although their city rivals have three games in hand and could return to the summit on Sunday when they take on Alaves.

"It was a complete performance from us today, from the first minute to the last," the Real Madrid coach said.

"We know we always have to win and it's not easy but the players are doing it and I'm thrilled for them.

"We're going in the right direction, doing a good job and we have to keep it up. It's all about the team, the group, when we play like that from the off.

"We were very disciplined in attack and defence, with and without the ball. We're all pleased but there's still a long way to go."

Zidane also praised Asensio's recent form and the "reliable" Vasquez as they combined for both of Real's goals.

"I'm happy for Asensio. He's had a big injury and he's a lot better now and improving every game," Spanish outlet Marca quoted Zidane as saying after the match.

"I'm happy for him and it's like that with everyone else too. We played a very serious game. I'm happy for everyone."

Zidane added: "It's not the fact that I like him so much, it's that he's doing very well. He's very reliable, very committed and I'm happy with what he's doing.

"Saying that, it's always about the team. We played very well today. It's always about picking up points and that's not easy."

The only concern for the defending champions was the injury picked up by full-back Dani Carvajal, who was substituted with five minutes remaining, although he would miss next weekend's trip to Osasuna after collecting his fifth yellow card of the campaign.

"Carvajal had a slight knock," Zidane said. "I don't think it's serious but we preferred not to take any chances."

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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.”

Most sought after workplace benefits in the UAE
  • Flexible work arrangements
  • Pension support
  • Mental well-being assistance
  • Insurance coverage for optical, dental, alternative medicine, cancer screening
  • Financial well-being incentives 
The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

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Fight card

1. Bantamweight: Victor Nunes (BRA) v Siyovush Gulmamadov (TJK)

2. Featherweight: Hussein Salim (IRQ) v Shakhriyor Juraev (UZB)

3. Catchweight 80kg: Rashed Dawood (UAE) v Khamza Yamadaev (RUS)

4. Lightweight: Ho Taek-oh (KOR) v Ronald Girones (CUB)

5. Lightweight: Arthur Zaynukov (RUS) v Damien Lapilus (FRA)

6. Bantamweight: Vinicius de Oliveira (BRA) v Furkatbek Yokubov (RUS)

7. Featherweight: Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)

8. Flyweight: Shannon Ross (TUR) v Donovon Freelow (USA)

9. Lightweight: Mohammad Yahya (UAE) v Dan Collins (GBR)

10. Catchweight 73kg: Islam Mamedov (RUS) v Martun Mezhulmyan (ARM)

11. Bantamweight World title: Jaures Dea (CAM) v Xavier Alaoui (MAR)

12. Flyweight World title: Manon Fiorot (FRA) v Gabriela Campo (ARG)

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.