• Inter's Alexis Sanchez celebrates after giving his team an early lead in their 3-0 Serie A win at Sassuolo on Saturday, November 28. EPA
    Inter's Alexis Sanchez celebrates after giving his team an early lead in their 3-0 Serie A win at Sassuolo on Saturday, November 28. EPA
  • Inter players celebrate after Vlad Chiriches' own goal. EPA
    Inter players celebrate after Vlad Chiriches' own goal. EPA
  • Inter Milan manager Antonio Conte. Reuters
    Inter Milan manager Antonio Conte. Reuters
  • Inter Milan's Arturo Vidal battles for possession with with Jeremie Boga of Sassuolo. Reuters
    Inter Milan's Arturo Vidal battles for possession with with Jeremie Boga of Sassuolo. Reuters
  • Inter Milan's Roberto Gagliardini celebrates scoring their third goal with Arturo Vidal. Reuters
    Inter Milan's Roberto Gagliardini celebrates scoring their third goal with Arturo Vidal. Reuters
  • Vlad Chiriches' own goal pouts Inter 2-0 up. EPA
    Vlad Chiriches' own goal pouts Inter 2-0 up. EPA
  • Inter's Arturo Vidal celebrates after his shot was turned into his own goal by Sassuolo's Vlad Chiriches. AP
    Inter's Arturo Vidal celebrates after his shot was turned into his own goal by Sassuolo's Vlad Chiriches. AP
  • Inter Milan's Arturo Vidal fires in the shot that was turned into his own net by Vlad Chiriches of Sassuolo. Reuters
    Inter Milan's Arturo Vidal fires in the shot that was turned into his own net by Vlad Chiriches of Sassuolo. Reuters
  • Inter Milan's Lautaro Martinez tries to finish past Sassuolo goalkeeper Andrea Consigli. Reuters
    Inter Milan's Lautaro Martinez tries to finish past Sassuolo goalkeeper Andrea Consigli. Reuters
  • Inter's Alexis Sanchez opens the scoring. EPA
    Inter's Alexis Sanchez opens the scoring. EPA
  • Inter Milan's Alexis Sanchez celebrates with Lautaro Martinez and Niccolo Barella after scoring Inter's opener. AP
    Inter Milan's Alexis Sanchez celebrates with Lautaro Martinez and Niccolo Barella after scoring Inter's opener. AP

Inter Milan pick themselves up from Real Madrid loss by ending Sassuolo's unbeaten record in Serie A


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Inter Milan powered back from their midweek Champions League defeat by Real Madrid to sweep aside Sassuolo 3-0 and move second in Serie A on Saturday.

Antonio Conte's side are on the brink of elimination from European football's premier competition after they were outclassed 2-0 by Real at the San Siro.

But they secured a morale-boosting victory back on the domestic front by inflicting a first defeat this season on high-flying Sassuolo at the Mapei Stadium.

"We always play great games, but we still lack something in the finishing," said Chilean Alexis Sanchez, who scored after just four minutes, as Inter dominated from start to finish.

"Against Real Madrid we made a lot of mistakes and we were timid coming onto the pitch. But I have faith in my teammates and we have to do well against both the big and the small teams."

Top Inter scorer Romelu Lukaku started on the bench along with Ashley Young, with Sassuolo without their number one scorer Francesco Caputo.

Sanchez scored the first minutes into the game following good work from Lautaro Martinez and poor defending from Sassuolo's Vlad Chiriches.

It was a nightmare match for Chiriches who then accidently turned a powerful Arturo Vidal centre into his own net, with the Romanian later limping off with a muscular problem.

Filip Djuricic missed a chance to pull the hosts back into the game, rattling the woodwork after 21 minutes.

Roberto Gagliardini added a third after an hour, sealing a win to boost Inter before next week's European trip to Borussia Monchengladbach.

Lukaku and Young came on in place of Lautaro and Sanchez for the final 10 minutes, with the Belgian forward having a goal ruled offside.

Conte also brought on Christian Eriksen, who looks set to leave Inter in January after just one year. The Danish midfielder came on for Ivan Perisic for the final five minutes.

"In January, if the player [Eriksen] has not taken part in some matches, he will be the first to ask to be transferred," Inter's chief executive Giuseppe Marotta had said before the game. "But we will have to do it without controversy."

Inter move second ahead of Sassuolo, with both teams on 18 points after nine games, two points behind AC Milan who host Fiorentina on Sunday.

A minute's silence was observed before the game for Diego Maradona with a photo of the former Argentina and Napoli star also projected on giant screens in the 10th minute of all matches in Italy.

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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.”

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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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.

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