Bayern Munich's Arjen Robben, centre, celebrates with teammates after Franck Ribery scored his side's seventh goal during their German Bundesliga match against Hamburger in the Allianz Arena in Munich, Germany, Saturday, Feb. 14, 2015. (AP Photo/Matthias Schrader)
Bayern Munich's Arjen Robben, centre, celebrates with teammates after Franck Ribery scored his side's seventh goal during their German Bundesliga match against Hamburger in the Allianz Arena in MunichShow more

Nervous Bayern Munich head east to war-torn Ukraine for Shakhtar Donetsk clash



Lviv, Ukraine // Arjen Robben admits Bayern Munich have a few nerves as they head to the war-torn Ukraine for Tuesday’s Uefa Champions League last 16, first-leg, clash away to Shakhtar Donetsk.

Due to fighting in east Ukraine between government forces and pro-Russian rebels, Shakhtar host their home league games in Kiev, but have opted to play their Champions League matches in Lviv, near the Poland border.

They will host Bayern at Arena Lviv, some 1000 kilometres from their own Donbass Stadium in Donetsk, which is being used to distribute humanitarian aid and whose facade has been damaged by shelling.

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Pep Guardiola’s star-studded Bayern squad head east fully aware it’s far from a typical away match, just days after romping to a record 8-0 rout of Hamburg on Saturday.

“Of course you are aware of the situation, it affects us all,” said Robben, who scored twice against Hamburg.

“You can’t just go there and ignore what is going on.”

Bayern fly to Lviv from Munich at 1445 local time on Monday and are scheduled to head back at 0030 on Wednesday morning.

Less than 36 hours on Ukraine soil means the German champions want to spend as little time there as possible and they have cancelled their usual post-match banquet.

Guardiola has admitted he is “concerned about the situation in Ukraine”, while chairman Karl-Heinz Rummenigge said the ceasefire over the weekend “has made the whole thing a bit more relaxed for us”.

European football’s governing body UEFA insist there is nothing to worry about.

“The safety of all participants is guaranteed,” a UEFA spokeswoman told SID, an AFP subsidiary.

Bayern warmed-up by hammering Hamburg in Munich as Robben, Thomas Mueller and Mario Geotze each scored a brace.

It was the visitors’ heaviest league defeat and the league’s biggest victory for 30 years.

Bayern rested Spain midfielder Xabi Alonso, who had a leg injury, and were also without suspended Germany defender Jerome Boateng against Hamburg, but both are expected to face Donetsk.

With the Ukraine Premier League still in a winter break, Shakhtar will come into the game short of competitive match practice and having only played friendlies in Brazil and Spain during recent training camps.

Their last competitive game was a 1-1 draw at Porto on December 10 in their final Champions League group game.

They are second in the Ukraine Premier League table, five points behind leaders Dynamo Kiev, and in danger of missing out on a sixth straight league title.

While Bayern won their group with two matches to spare, Donetsk finished second behind Porto in their pool, but still managed to make Champions League history.

They posted a 7-0 away win at BATE Borisov when Brazil striker Luiz Adriano, their top scorer for the last five seasons, finished with five goals.

He has scored nine goals from just 11 attempts in the group stages.

The result made Champions League history as Shakhtar became the first team to romp to a 6-0 half-time lead.

“Bayern are still in a different rhythm of the game. They play matches every three to four days, whereas we played several friendly matches during a month-and-half,” Adriano told Shakhtar’s official website.

Donetsk will be without midfielder Taras Stepanenko, who is serving a one-match suspension having been booked three times in the group stage.

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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.

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“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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Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

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The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

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.

Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes. 
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com

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1am – Early prelims

2am – Prelims

4am-7am – Main card

7:30am-9am – press cons