Arsenal manager Mikel Arteta was "very disappointed" that his dream of retaining the FA Cup was ended with a fourth-round exit at Southampton.
The Gunners have lifted the trophy a record 14 times but were deservedly beaten on the south coast as a Gabriel own goal saw Saints advance with a 1-0 victory.
Arteta made seven changes to his side and was without captain Pierre-Emerick Aubameyang for personal reasons.
Those who came into the side struggled to make an impact, leaving the Spaniard unhappy to be bowing out at such an early stage of their FA Cup defence.
"I'm very disappointed because we wanted to continue in the competition, we had a dream to do it again like last year and the dream today is over," he said.
"I am as well disappointed with the way we conceded the goal in an area where we know we shouldn't be doing that.
"At the same time I cannot fault the effort of the players, how they tried and how they went to get a goal in the second half."
Club-record signing Nicolas Pepe and summer arrival Willian came into the team having failed to impress so far this season.
Neither could take the game by the scruff of the neck but Areta defended the pair. "What I am saying is they try to give their best," said Arteta. "You could see how hard they are trying, with more or less quality, but the intention is there and the willingness is there.
"This is what we demand them to do. And after the decision making, the final pass, the final goal, the opportunities they have, it is the end product and that's the hardest thing in football.
"We are going to keep supporting them as much as we possible can, as a coaching staff and as a club because that is what they need.
"They need to keep working hard and try to improve their performances."
Arsenal return to St Mary's in the Premier League on Tuesday and Arteta revealed he is unsure whether Aubameyang will be available, having left the team hotel hours before kick-off.
"I don't know," he replied when asked about Aubameyang's potential involvement. "He needs to address that issue, we'll see how it evolves.
"We're here and we have to support him and he needs to take the time that is needed because that is a priority at the moment."
For Southampton, this was a first FA Cup win over Arsenal and sets up a fifth-round trip to face Premier League rivals Wolves.
They should have won the game by more but manager Ralph Hasenhuttl was pleased to see his side advance.
"First half we were very good I think, after a few problems in the beginning with the pressing and we had to adjust it a little bit," he said.
"With the ball we had a few good moments and the decision making wasn't always the best, otherwise we could have scored a little more.
"This is the FA Cup and this season we are in a better place in the table, we are not in a relegation battle, so we don't have to rest any players. The league is on Tuesday and this was the FA Cup.
"For the fans at home it is always good for them to see that we take it seriously and we wanted to go through to the next round, we are there and we will try everything."
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.”
MATCH INFO
Bayern Munich 2 Borussia Monchengladbach 1
Bayern: Zirkzee (26'), Goretzka (86')
Gladbach: Pavard (37' og)
Man of the Match: Breel Embolo (Borussia Monchengladbach)
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Match info
Who: India v Afghanistan
What: One-off Test match, Bengaluru
When: June 14 to 18
TV: OSN Sports Cricket HD, 8am starts
Online: OSN Play (subscribers only)
