• Light shines inside the Notre-Dame cathedral in the aftermath of the blaze. EPA
    Light shines inside the Notre-Dame cathedral in the aftermath of the blaze. EPA
  • The Paris fire service announced that the last remnants of the blaze were extinguished on April 16. AFP
    The Paris fire service announced that the last remnants of the blaze were extinguished on April 16. AFP
  • A staff member walks inside the Notre-Dame in the aftermath of a fire that devastated the cathedral. EPA
    A staff member walks inside the Notre-Dame in the aftermath of a fire that devastated the cathedral. EPA
  • Men work on a statue at Notre-Dame Cathedral after a massive fire devastated large parts of the gothic structure in Paris. Reuters
    Men work on a statue at Notre-Dame Cathedral after a massive fire devastated large parts of the gothic structure in Paris. Reuters
  • Inspectors are seen on the roof of the landmark Notre-Dame Cathedral in central Paris on April 16, 2019, the day after a fire ripped through its main roof. AFP
    Inspectors are seen on the roof of the landmark Notre-Dame Cathedral in central Paris on April 16, 2019, the day after a fire ripped through its main roof. AFP
  • The landmark Notre-Dame Cathedral in Paris the day after a fire destroyed its spire, April 16, 2019. AFP
    The landmark Notre-Dame Cathedral in Paris the day after a fire destroyed its spire, April 16, 2019. AFP
  • Smoke billows as flames burn through the roof of the Notre-Dame Cathedral on April 15, 2019. AFP Photo
    Smoke billows as flames burn through the roof of the Notre-Dame Cathedral on April 15, 2019. AFP Photo
  • Smoke rises around the altar in front of the cross inside the Notre-Dame Cathedral as the fire continues to burn outside. Reuters
    Smoke rises around the altar in front of the cross inside the Notre-Dame Cathedral as the fire continues to burn outside. Reuters
  • Flames and smoke are seen billowing from the roof. Getty Images
    Flames and smoke are seen billowing from the roof. Getty Images
  • Firefighters work to put out the blaze on Tuesday morning. AFP Photo
    Firefighters work to put out the blaze on Tuesday morning. AFP Photo
  • A couple looks on as firefighters race to save Notre-Dam. AFP
    A couple looks on as firefighters race to save Notre-Dam. AFP
  • Flames on the roof of the Notre-Dame Cathedral in Paris, France, 15 April 2019. EPA
    Flames on the roof of the Notre-Dame Cathedral in Paris, France, 15 April 2019. EPA
  • Smoke and flames rise during a fire at the landmark Notre-Dame Cathedral in central Paris on April 15, 2019, AFP
    Smoke and flames rise during a fire at the landmark Notre-Dame Cathedral in central Paris on April 15, 2019, AFP
  • Smoke and flames rise during a fire at the landmark Notre-Dame Cathedral in central Paris on April 15, 2019. EPA
    Smoke and flames rise during a fire at the landmark Notre-Dame Cathedral in central Paris on April 15, 2019. EPA
  • Smoke billows as flames destroy the roof of the landmark Notre-Dame Cathedral in central Paris on April 15, 2019. AFP
    Smoke billows as flames destroy the roof of the landmark Notre-Dame Cathedral in central Paris on April 15, 2019. AFP
  • Flames and smoke billow around the gargoyles decorating the roof. AFP
    Flames and smoke billow around the gargoyles decorating the roof. AFP
  • Firefighters spray water to extinguish the flames. EPA
    Firefighters spray water to extinguish the flames. EPA
  • Firefighters spray water to extinguish the flames. EPA
    Firefighters spray water to extinguish the flames. EPA
  • Smoke and flames rise from Notre Dame Cathedral in central Paris on April 15, 2019. AFP
    Smoke and flames rise from Notre Dame Cathedral in central Paris on April 15, 2019. AFP

Football

Kylian Mbappe, Neymar and Paul Pogba share their pain after Notre-Dame Cathedral fire

French footballers took to social media to express their sadness after the blaze engulfed the 850-year-old landmark

Ian Oxborrow
Ian Oxborrow

April 16, 2019

  • English
  • Arabic

Paris Saint-Germain stars Kylian Mbappe and Neymar were among the footballers to take to social media to voice their shock after a huge fire gutted the historic Notre-Dame Cathedral in Paris.

Although the cathedral’s spire collapsed in the flames, firefighters saved the shell of the building which dates back 850 years and attracts more than 13 million visitors a year as the most visited tourist site in the French capital.

As the stunning scenes played out, world leaders posted tributes online and were joined by the biggest names in French football.

Mbappe, 20, posted an image of the fire taking hold of the cathedral and added a crying emoji in the caption.

Former PSG midfielder and England captain David Beckham responded to Mbappe's post with three praying emojis.

Brazilian superstar Neymar, who joined PSG in 2017, shared with his 113 million followers an image of the fictional character Quasimodo, the Hunchback of Notre-Dame, carrying the cathedral with pain etched across his face.

He accompanied the image with a caption saying: "Pray for France".

French World Cup winner Paul Pogba, who is in Barcelona for Manchester United's Champions League quarter-final second leg, shared an image of the cathedral before the fire, but with a broken heart added to it and an emoji of himself weeping.

Another Manchester-based player, City's Benjamin Mendy, wrote on his Instagram: "Une pensée pour Notre-Dame ce soir" which translates as "a thought for our lady tonight", next to the following image.

Arsenal's Alexandre Lacazette, a seasoned French international but now plying his trade in England's Premier League, also shared an image of the fire with emotional emojis displayed, while PSG's German midfielder Julian Draxler and teammate Angel Di Maria did likewise.

The cause of the fire is not yet known and authorities are continuing their investigation into how it started, the French junior interior minister, Laurent Nunez, said on Tuesday morning.

The fire was under control but not totally extinguished.

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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Dhadak

Director: Shashank Khaitan

Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana

Stars: 3

Last 10 NBA champions

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2013: Miami bt San Antonio 4-3
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What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

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