According to the most partisan supporters of Olympique Marseille, the club where the much-travelled Andre Villas-Boas now finds himself is the biggest he has managed. Bigger than Porto, because the wide reach of its support-base. Bigger, they would venture, than Tottenham Hotspur by dint of OM having won the European Cup, and more storied than Chelsea: Marseille have, after all, won their domestic league 10 times.
But what the most optimistic Marseille fan is obliged to acknowledge about an institution of faded glories is that Villas-Boas, 41, is at probably the most hard-up club he has managed since he started his senior coaching career, so precociously, at Academica de Coimbra a decade ago. “We have no money,” Villas-Boas reminded OM’s supporters last week, adding sharply, “some people find it hard to get that into their heads.”
Villas-Boas is two matches into his return to European club football, after a three-year gap and a brief adventure in Chinese football, and he is yet to record a win. He has just under a week to go until the close of the transfer window and is more concerned about departures from Marseille - the midfielder Luiz Gustavo is interesting Fenerbahce - than hopeful of a late recruit that might lift spirits. The budget he deals with is austere, and while AVB says he was clear about that when taking the job, the first 11 days of the season have provided plenty of evidence of the many areas of his squad that could use some investment.
On Wednesday, Villas-Boas confronts a significant derby, at Nice, whose maximum yield of Ligue 1 points so far puts them five clear of Marseille and looking very much like the top club on France’s Mediterranean coast. It’s an intriguing meeting of two young coaches, Patrick Vieira, 43, and Villas-Boas, and, premature or not, it will inform judgements about how the AVB-OM partnership is progressing.
Above all, a first goal of their partnership would be welcome. Marseille are the only team in Ligue 1 yet to register one, and their best chance of breaking the new season duck was squandered at the weekend at Nantes, when OM fluffed a penalty in the 0-0 draw. Dario Benedetto, the striker on whom Marseille committed a large chunk of their slender transfer resources - some €14m to Boca Juniors - was the luckless spot-kicker, launching his attempt wildly high of the crossbar.
After the opening weekend’s 2-0 home defeat against Reims, this was not a scenario the new manager needed, or had asked for. Benedetto is not the club’s designated taker of spot-kicks, but was offered the chance by Dimitri Payet in a gesture intended to help the new signing, to ease him towards his first Marseille goal. Villas-Boas did not approve. “That’s the first time and the last time that happens,” he said.
What is it with young managers and off-the-cuff penalty-taking decisions? Rather as Ole Gunnar Solskjaer at Manchester United has weathered suggestions that his authority as a manager has been diminished by recent on-field debates between Paul Pogba and Marcus Rashford over who should take United's spot-kicks (both have missed one this season already), so Villas-Boas was plunged into an unwanted controversy by Payet's generous act towards a colleague. No one emerged well from it: Not the new manager, who had approved Payet, not Benedetto, as his penalty-kicker. Not Payet, whose act of supposed leadership was then questioned by AVB. Not Benedetto, deflated by a bad miss that showed every symptom of anxiety and was hardly excused by the explanation the striker offered to Argentina media: that the ball used in Ligue 1 seems lighter than balls he is accustomed to.
All Marseille centre-forwards carry a heavy burden of expectation, and Benedetto feels it already. He will be relieved once he can count on the service up front of both Payet and Florian Thauvin, the latter provider of 26 assists over the last two seasons but still gingerly making his way back from an ankle injury he picked up in pre-season.
“We have had to be patient with Thauvin,” said Villas-Boas, “and there is a small chance he can play a part against Nice.” As for Benedetto, the coach urges patience from fans. “After the international break [next month] he will be nearer his best rhythm.”
AVB’s immediate aim is that, by the international break, Marseille will have heaved themselves up the table. These are early days, but, right now, they are a "big" club squatting just one place above the relegation zone.
The biog
Favourite book: Animal Farm by George Orwell
Favourite music: Classical
Hobbies: Reading and writing
UAE currency: the story behind the money in your pockets
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Favourite book: ‘The Art of Learning’ by Josh Waitzkin
Favourite film: Marvel movies
Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence
Mohammed bin Zayed Majlis
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
WITHIN%20SAND
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If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).
Sholto Byrnes on Myanmar politics
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%20PROFILE%20
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MATCH INFO
Uefa Champions League semi-final, second leg
Real Madrid (2) v Bayern Munich (1)
Where: Santiago Bernabeu, Madrid
When: 10.45pm, Tuesday
Watch Live: beIN Sports HD
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Zayed Sustainability Prize
The specs
Engine: 2.3-litre, turbo four-cylinder
Transmission: 10-speed auto
Power: 300hp
Torque: 420Nm
Price: Dh189,900
On sale: now
More from Aya Iskandarani
UAE currency: the story behind the money in your pockets
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Married Malala
Malala Yousafzai is enjoying married life, her father said.
The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.
Ziauddin Yousafzai told The National his daughter was ‘very happy’ with her husband.
What is a calorie?
A food calorie, or kilocalorie, is a measure of nutritional energy generated from what is consumed.
One calorie, is the amount of heat needed to raise the temperature of 1 kilogram of water by 1°C.
A kilocalorie represents a 1,000 true calories of energy.
Energy density figures are often quoted as calories per serving, with one gram of fat in food containing nine calories, and a gram of protein or carbohydrate providing about four.
Alcohol contains about seven calories a gram.
Indika
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Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
Play-off fixtures
Two-legged ties to be played November 9-11 and November 12-14
- Northern Ireland v Switzerland
- Croatia v Greece
- Denmark v Ireland
- Sweden v Italy
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Company%C2%A0profile
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
The five pillars of Islam
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million