GUANGZHOU, China // Cosmin Olaroiu backed his Al Ahli side to come back stronger after narrowly losing the Asian Champions League final to Guangzhou Evergrande.
The Dubai club, contesting the knockout stages for the first time, were beaten 1-0 on aggregate by their Chinese rivals following yesterday’s single-goal defeat in the second leg at Tianhe Stadium. Elkeson, Guangzhou’s Brazilian forward, scored the decisive goal in the 52nd minute.
Ahli finished the match with 10 men when Salmeen Khamis was shown a straight red card on 66 minutes for an apparent stamp on Zheng Long.
Khamis was found wanting for the goal, too. Elkeson swivelled in the Ahli area, let the ball run through Khamis and slotted past Ahmed Dida in the visiting goal to leave the majority of the 42,499 fans in the Tianhe celebrating at the final whistle.
However, Olaroiu praised his players in the immediate aftermath, saying Ahli can bounce back from the disappointment to ensure they return a better team in the future. “Even with 10 men we tried to play, we tried to score,” he said. “We fought until the end, until the last second, and this makes me very, very proud of my players.
“They have done a fantastic job. Even if they don’t win the trophy, they make a very good image for UAE football. They deserve to be here and they deserve what they get.
“Of course, it’s not easy to lose in the final. But it’s a point from where we have to start.
“We see some limits today, we see some problems. Only these kinds of games show us how strong we are. It’s not the end of the journey. It’s the point from where we have to start to fix the problems.”
[Guangzhou v Al Ahli — Asian Champions League final second leg as it happened]
Olaroiu said he did not have a clear view of the incident that prompted Khamis’s sending off, given he was contesting another decision with the fourth official. The defender then refused to leave the pitch and had to be restrained by substitute goalkeeper Majed Naser and members of the Ahli back room staff. From there, Ahli had some opportunities to score with Rodrigo Lima spurning their best chance with 13 minutes remaining.
A goal for the visitors would have sealed the title on the away-goals rule. “It’s difficult with 10 men and we didn’t have the solution,” Olaroiu said.
“It shouldn’t happen because it’s a very strong team — we should have known that they are superior in this moment.
“Our job was then much more difficult.
“But we tried, we pushed, we did everything possible to come back and score.
“If we scored from the chances we had after, it would be difficult for Guangzhou to then score two, but unfortunately we couldn’t do it.”
Ahli were seeking to become only the second UAE club to win the Champions League, after Al Ain in 2003.
They had never progressed beyond the group stages in five previous attempts, in contrast to Guangzhou, who two years ago captured the continental trophy. Late last month, the Chinese side were crowned domestic champions for the fifth season in a row.
“As I told you, in the beginning nobody believed we could achieve this,” Olaroiu said.
“With hard work and with a lot of sacrifices, we made it. Now we show some limits and from here we have to start to build.
“In this kind of game you can see many things, and a few of them I noticed.
“And also, Guangzhou have built a team that for five consecutive years reached the title, two times the Champions League. We have to see, to take a lesson, to learn and to improve for the future.”
jmcauley@thenational.ae
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UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
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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2010 - Mark Webber (Red Bull Racing)
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- Solo riders only, no passengers allowed
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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
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Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
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The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
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