• Valencia's Spanish midfielder Carlos Soler celebrates after scoring his third penalty in the 4-1 thrashing of Real Madrid. AFP
    Valencia's Spanish midfielder Carlos Soler celebrates after scoring his third penalty in the 4-1 thrashing of Real Madrid. AFP
  • Real Madrid's French forward Karim Benzema opens the scoring. AFP
    Real Madrid's French forward Karim Benzema opens the scoring. AFP
  • Benzema (R) celebrates with teammates. EPA
    Benzema (R) celebrates with teammates. EPA
  • Carlos Soler of Valencia scores his team's first goal from the penalty spot. Getty
    Carlos Soler of Valencia scores his team's first goal from the penalty spot. Getty
  • Valencia's midfielder Carlos Soler (3-L) celebrates with teammates after levelling the scores. EPA
    Valencia's midfielder Carlos Soler (3-L) celebrates with teammates after levelling the scores. EPA
  • Real Madrid's Raphael Varane, right, scores an own goal past goalkeeper Thibaut Courtois to put Valencia ahead. AP
    Real Madrid's Raphael Varane, right, scores an own goal past goalkeeper Thibaut Courtois to put Valencia ahead. AP
  • Real Madrid coach Zinedine Zidane gestures during the thrashing at Valencia. AP
    Real Madrid coach Zinedine Zidane gestures during the thrashing at Valencia. AP
  • Soler (C) celebrates with teammates after scoring the third. EPA
    Soler (C) celebrates with teammates after scoring the third. EPA
  • Sergio Ramos can't believe it as Carlos Soler prepares to take another penalty. Getty
    Sergio Ramos can't believe it as Carlos Soler prepares to take another penalty. Getty
  • Soler scores his third penalty. Getty
    Soler scores his third penalty. Getty
  • Soler celebrates with teammate Uroc Racic after scoring his team's fourth goal. Getty
    Soler celebrates with teammate Uroc Racic after scoring his team's fourth goal. Getty

'I don't like it' - Zidane Zidane fuming after Real Madrid concede record three penalties in thrashing at Valencia - in pictures


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Coach Zinedine Zidane said Real Madrid could not hide behind the referee's decisions or their injury and illness woes after they stumbled to a 4-1 defeat at Valencia on Sunday.

Real conceded three penalties for the first time in their history, all of which were scored by Valencia's Carlos Soler, while Raphael Varane also scored an own goal, after Karim Benzema had given the champions the lead.

Zidane had to make do without a total of six players for Sunday's match after midfield anchor Casemiro and record signing Eden Hazard tested positive for Covid-19, but the coach said nothing excused their performance.

"We can look for one thousand excuses and everyone can find any reason they want to explain this," Zidane said.

"But we should not be looking for excuses, everyone in this squad is a Real Madrid player."

The coach criticised his side for reacting so badly to Soler cancelling out Benzema's opener.

"We played well in the first half an hour but the game changed completely after they equalised. This has happened to us a number of times and I don't like it," he said.

"We need to really analyse what is going wrong because any little thing can cause us lots of difficulties. Once we conceded the first goal we couldn't get back into the game. A lot of things went against us today."

Real goalkeeper Thibaut Courtois, however, felt his side were unlucky.

"We were very motivated to turn the game around at halftime but I had to make a save as soon as the second half started and then we conceded two penalties," he said.

"I think (Valencia striker) Maxi Gomez fouled Marcelo but Maxi shouted louder and they gave a penalty. There was also a foul on Asensio, we were talking about that in the dressing room but you can't change anything in the dressing room.

"I don't know how to explain it, they didn't create too many chances but we had three penalties go against us and their second goal was very bad luck."

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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Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

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Boulder shooting victims

• Denny Strong, 20
• Neven Stanisic, 23
• Rikki Olds, 25
• Tralona Bartkowiak, 49
• Suzanne Fountain, 59
• Teri Leiker, 51
• Eric Talley, 51
• Kevin Mahoney, 61
• Lynn Murray, 62
• Jody Waters, 65

TEACHERS' PAY - WHAT YOU NEED TO KNOW

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

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SCORES

Yorkshire Vikings 144-1 in 12.5 overs
(Tom Kohler 72 not out, Harry Broook 42 not out)
bt Hobart Hurricanes 140-7 in 20 overs
(Caleb Jewell 38, Sean Willis 35, Karl Carver 2-29, Josh Shaw 2-39)

MEFCC information

Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5