Russia 1 Slovakia 2
Uefa may not need to throw Russia out of Euro 2016. Their Group B opponents could do that for them.
The threat of expulsion hangs over the Russians after their rioting fans’ misbehaviour in Marseille. Their players’ mediocre showing against Slovakia in Lille left them with a solitary point from two games. Fail to beat Wales on Monday and they may beat a humiliating return home, in disappointment at on-field events rather than in disgrace because of off-field aggression.
Their hooligans do not, but the Russian team punches below its weight. Theirs is a country of 143 million. They lost to Slovakia, which has a mere 5 million inhabitants. Their next opponents, Wales, come from a principality of 3 million.
Photo gallery: Russia undone by brilliant Marek Hamsik as Napoli star scores a gem at Euro 2016
Russia do not possess a player of the potency, pedigree and panache of the magnificent Marek Hamsik, their tormentor in chief, but they nevertheless have a capacity to fail when pitted against those with lesser resources. They were lacklustre at the 2014 World Cup, contrived not to qualify from perhaps the weakest group in Euro 2012 and missed the 2010 World Cup altogether.
The vast amount of money in the Russian game has produced neither outstanding individuals nor a group with a formidable sense of teamwork. There was a sense of spirit when they came from behind to procure a barely deserved point against England and again when they scored a late goal against Slovakia.
This time, however, it was not enough. A late bombardment did not yield a second equaliser and Russia stare into the abyss.
More Euro 2016
Related: Russia coach confident fans will behave; France could rest Pogba and Griezmann
Read also: Russia handed suspended disqualification from Euro 2016 over 'crowd disturbances'
As hosts of the 2018 World Cup, they are one of the few teams who could be forgiven for prioritising another tournament. Yet they are not. Theirs is one of the older groups in France. Their centre-backs’ combined age is touching 70. Their squad features a solitary player under 25. They seem neither a team for the future or for now.
The losses of the injured, pivotal pair of midfielders, Igor Denisov and Alan Dzagoev, are mitigating factors. Their deputies, Roman Neustadter and Aleksandr Golovin, were so ineffectual they were both replaced at half-time.
Winger Aleksandr Kokorin, long touted as Russia’s great talent, flattered to deceive again. Instead, their hopes rested with the enigmatic Artom Dzyuba. He is a giant with a fondness for mazy runs, a winger trapped inside a target man’s body. At least he offered a team lacking inspiration or ideas something different. There is a strange lack of ambition about Russia. They have height – Denis Glushakov scored their second header in as many games – which enables them to go direct in the closing stages but not much speed.
A rare exception was the electric Oleg Shatov. Igor Smolnikov, the raiding right-back, was the other to add dynamism, but he was caught out of position when Vladimir Weiss struck.
The scorer was almost a subplot, however, such was the beauty of the build-up. Slovakia supplied two high-class goals, each illustrating Hamsik’s catalytic qualities. For the opener, the Napoli playmaker dropped deep to pierce the Russian defence with a wonderful diagonal pass. Weiss latched on to it, cut inside and beat Igor Akinfeev. That was Hamsik the creator. The second was Hamsik the scorer, showing the range of his gifts. He collected Weiss’ shot corner, turned on to his right foot and unleashed an unstoppable shot that arrowed in off the far post.
Hamsik was outshone by colleagues in defeat to Wales but this underlined his status as Slovakia’s talisman and great talent. His was among the outstanding individual performances of Euro 2016 so far, ranking alongside those of Dimitri Payet, Toni Kroos, Andres Iniesta and Leonardo Bonucci.
Each plays for one of Europe’s established powers. Hamsik does not, but Slovakia are acquiring a taste for upsetting bigger nations. They beat Spain in qualifying and Germany in a friendly and have now claimed a third major scalp. If Russia rank as a major scalp.
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The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
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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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