It was barely 24 hours before the opening of the winter transfer window.
Marseille, still the best supported club in France by their own estimation, were thinking about their strategy.
At consideration was good-value signings who might give them the extra push needed for what was a genuine tilt at the Ligue 1 title at that stage.
That was almost exactly a year ago. One of the players under discussion within Marseille was the Algeria international winger, Riyad Mahrez, then 23.
He had made a good impression with Leicester City, who he had joined a year earlier in time to help them to promotion to the Premier League.
Although his name prompted only a faint recognition in France where he had grown up, his name was put before Marseille with enthusiastic recommendations.
None apparently, sounded strong enough for the Marseille president Vincent Labrune.
“Do you really think a player from Leicester could have a place at Marseille with the project we are currently involved in?” Labrune emailed an associate, a line of correspondence that came into the hands of the magazine France Football earlier this month.
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“Don’t take this message the wrong way,” added Labrune, “but I don’t really like being thought gullible.”
Twelve months on, and hindsight casts Labrune’s instincts and his indignation in a particularly harsh light.
Granted, his Marseille were top of the Ligue 1 table last December when he snootily looked down on Leicester City, who were then facing a long, arduous struggle against relegation from the Premier League.
Today, Marseille sit mid-table in France while Leicester just displaced from the top perch by Arsenal in England.
Mahrez has emerged as a figurehead of their upstart courage, confidence and attractiveness as a team.
He ended his marvellous 2015 with a brilliant piece of skill last Tuesday night; a dexterous turn to bewilder the Manchester City player Kevin de Bruyne, a manoeuvre evoking the so-called ‘Cruyff turn’, a pirouette named after one of the game’s greats.
Leicester’s 0-0 draw with City represented another endorsement of their legitimacy at the summit of English football. It also showcased the repertoire of Mahrez, eager to take on the costliest and the toughest of opponents, creator of some of the best scoring opportunities of the night.
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Mahrez has contributed to more than half of Leicester’s 37 goals in the league so far. His 13 goals make him the division’s third-highest scorer. He would be further up that ladder had his colleague Jamie Vardy not benefited so much from Mahrez’s passes for the striker’s 15 goals. The winger has seven assists.
Suffice to say, this month’s transfer window would regard him far more highly than Marseille’s boss did in the last, although encouragingly for Leicester, he told Canal+: “It would be stupid for me to move away, with Leicester where we are now.”
The midlands club bought him for less than half a million euros in January 2014.
The sellers were Le Havre, of Ligue 2. He had never played top-flight football in France and had, in his teens and early 20s, been overlooked by scouts from major clubs partly, he says, because they thought him too physically frail.
Le Havre saw a toughness in him despite of his spindly frame, but a need to adapt his game. As he said of himself: “I play as if I am still on the streets.”
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Those formative streets were in Sarcelles, a suburb to the north of Paris, where he was born, the son of an Algerian father and a Moroccan mother.
He qualifies to play for three countries, but chose Algeria, where he regularly holidayed and was called up by the Desert Foxes for the 2014 World Cup.
He was part of an impressive side who lost narrowly at the last 16 stage to eventual winners Germany. At the time, he had yet to play in either the Premier League or Ligue 1.
Six months later, the fact that he had sparkled from time to time in a team struggling with the demands of England’s leading league not enough of audition to convince Marseille.
Now, he is not within reach, not by a distance. “He is priceless,” said Leicester head coach Claudio Ranieri.
“He is improving all the time here, so why would he want to go anywhere else?”
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
UAE currency: the story behind the money in your pockets
Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Nancy 9 (Hassa Beek)
Nancy Ajram
(In2Musica)
The five pillars of Islam
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
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.”
On racial profiling at airports
Results:
6.30pm: Maiden Dh165,000 2,000m - Winner: Powderhouse, Sam Hitchcott (jockey), Doug Watson (trainer)
7.05pm: Handicap Dh165,000 2,200m - Winner: Heraldic, Richard Mullen, Satish Seemar
7.40pm: Conditions Dh240,000 1,600m - Winner: Walking Thunder, Connor Beasley, Ahmed bin Harmash
8.15pm: Handicap Dh190,000 2,000m - Winner: Key Bid, Fernando Jara, Ali Rashid Al Raihe
8.50pm: The Garhoud Sprint Listed Dh265,000 1,200m - Winner: Drafted, Sam Hitchcott, Doug Watson
9.25pm: Handicap Dh170,000 1,600m - Winner: Cachao, Tadhg O’Shea, Satish Seemar
10pm: Handicap Dh190,000 1,400m - Winner: Rodaini, Connor Beasley, Ahmed bin Harmash
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Company%C2%A0profile
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Top New Zealand cop on policing the virtual world
New Zealand police began closer scrutiny of social media and online communities after the attacks on two mosques in March, the country's top officer said.
The killing of 51 people in Christchurch and wounding of more than 40 others shocked the world. Brenton Tarrant, a suspected white supremacist, was accused of the killings. His trial is ongoing and he denies the charges.
Mike Bush, commissioner of New Zealand Police, said officers looked closely at how they monitored social media in the wake of the tragedy to see if lessons could be learned.
“We decided that it was fit for purpose but we need to deepen it in terms of community relationships, extending them not only with the traditional community but the virtual one as well," he told The National.
"We want to get ahead of attacks like we suffered in New Zealand so we have to challenge ourselves to be better."
ANATOMY%20OF%20A%20FALL
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJustine%20Triet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ESandra%20Huller%2C%20Swann%20Arlaud%2C%20Milo%20Machado-Graner%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A
Zombieland: Double Tap
Director: Ruben Fleischer
Stars: Woody Harrelson, Jesse Eisenberg, Emma Stone
Four out of five stars
COMPANY%20PROFILE
%3Cp%3EFounder%3A%20Hani%20Abu%20Ghazaleh%3Cbr%3EBased%3A%20Abu%20Dhabi%2C%20with%20an%20office%20in%20Montreal%3Cbr%3EFounded%3A%202018%3Cbr%3ESector%3A%20Virtual%20Reality%3Cbr%3EInvestment%20raised%3A%20%241.2%20million%2C%20and%20nearing%20close%20of%20%245%20million%20new%20funding%20round%3Cbr%3ENumber%20of%20employees%3A%2012%3C%2Fp%3E%0A
MATCH INFO
What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae