Former UAE manager Mahdi Ali has emerged as a strong candidate to reprise his role with the national team, with the Football Association expected to press forward with their search this weekend.
The Emirati, who managed the UAE senior side with distinction from 2012 to 2017, is among the names being considered to replace Jorge Luis Pinto, who left two weeks ago having been appointed only in the summer.
Rodolfo Arruabarrena, the former Al Wasl manager, was reported to be one of three names the FA was to consider this weekend, although The National understands the Argentine, who recently became manager of Egyptian side Pyramids FC, has not been approached.
Henk ten Cate, previously manager of Al Jazira and Al Wahda, has been linked also, while former Al Ain manager Zoran Mamaic this week ruled himself out of the running.
It was believed the Croat, currently in charge of Dinamo Zagreb in his homeland, was the front-runner for the role. However, on Wednesday Mamic confirmed he would be staying at Zagreb despite receiving an offer from the Football Association.
The FA met at their Dubai headquarters on Thursday to discuss the search for Pinto’s replacement among a number of other issues, with an announcement anticipated to be made at the beginning of next week.
It appears now that Mahdi Ali is well placed to once again take charge of the national team, as the UAE look to rescue their World Cup 2022 qualification campaign.
The former manager, 55, enjoyed significant success in his first stint within the national set-up, initially as manager of various age-group sides. In 2012, he guided the Under-23s to a first ever Olympic Games, with the team then impressing in London with their style of play.
Mahdi Ali was promptly promoted to the senior side, where he went on to mastermind the UAE's Gulf Cup success in 2013 and then third place at the Asian Cup two years later. It marked the country’s best result in the competition on foreign soil.
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UAE 1 Bahrain 3: Pinto's last stand
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Mahdi Ali resigned in March 2017 immediately following the UAE’s crunch defeat to Australia in the final stage of qualification for the 2018 World Cup. His tenure had lasted four and a half years.
Since then, the UAE have had five different managers: Edgardo Bauza, Alberto Zaccheroni, Bert van Marwijk, Ivan Jovanovic and Pinto. The latter trio were all employed during the 13 months, with neither Jovanovic nor Pinto taking charge of a competitive match.
On Wednesday, speaking at a press conference ahead of Zagreb’s Europa League match against CSKA Moscow, Mamic was asked about interest from the UAE, saying: “Yes, my staff and I have made a lot of good results in the UAE. There are always inquiries from that part of the world, even now for the national team job.
“I am proud of that and privileged, but we are not leaving. Until when? Until Dinamo plays well and until we have good results.”
Meanwhile, Ten Cate said of the links to the national team: 'I've said for a long time that managing the UAE would be an honour for me. I know the players very well, & have continued to follow them. There's so much potential in the national team.”
Ten Cate enjoyed considerable success in the UAE during spells with Jazira and Wahda. In 2016, he won the President’s Cup with Jazira before guiding them to the Arabian Gulf League title the following season. It was only the club’s second top-flight crown.
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.”
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
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What are the regulations?
- Fly it within visual line of sight
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- Should have a live feed of the drone flight
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Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
The specs: 2018 Jeep Compass
Price, base: Dh100,000 (estimate)
Engine: 2.4L four-cylinder
Transmission: Nine-speed automatic
Power: 184bhp at 6,400rpm
Torque: 237Nm at 3,900rpm
Fuel economy, combined: 9.4L / 100km
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