A four-hour meeting over restarting England's Premier League ended in "no decision" being made on Friday.
The season has been on hold since March 9 due to the coronavirus pandemic.
Despite no date being set on when it could resume, it was decided that the Premier League will consult with club managers and players over Project Restart.
The league held a conference call of 20 top-flight clubs and swapped ideas on the possible plans for resuming training and eventually a return to playing matches.
"No decisions were taken at today’s shareholders’ meeting and clubs exchanged views on the information provided regarding Project Restart," the Premier League said in a statement.
"It was agreed that the PFA (Professional Footballers' Association), LMA (League Managers Association), players and managers are key to this process and will be further consulted.
"The clubs reconfirmed their commitment to finishing the 2019/20 season, maintaining integrity of the competition and welcomed the Government’s support," it added.
"The League and clubs are considering the first tentative moves forward and will only return to training and playing with Government guidance, under expert medical advice and after consultation with players and managers," he said.
The first step for any move forward will be the UK government's review of lockdown restrictions due on May 7.
The cabinet minister responsible for sport, Culture Secretary Oliver Dowden, held the first formal meeting of a cross-sports body on Friday which has been set up to examine the practicalities of resuming professional sport.
"I know (Britons) desperately want sport back on," Dowden wrote on Twitter.
"We just kicked off the first of many detailed meetings to plan for a safe return of elite sport behind closed doors when, and only when, it is safe to do so on the basis of expert medical advice. Lots to consider, but today we step up planning."
English cricket's governing body, the ECB, has been charged with leading the planning effort for all sports and is looking at ways to play sport behind closed-doors in 'bio-secure' venues.
"We held an initial, constructive meeting with medical representatives from a number of professional and elite sports bodies, government and PHE (Public Health England) to step up planning on what may need to be done so that athletes could return to training, when it is deemed safe to do so," a spokesperson for the Departure of Culture Media and Sports said.
"This would be ahead of any return to competitive top-level sport which would only happen when medical experts advise that this can be done safely. Discussions with the sports bodies will continue on this."
The Premier League will have to consider what emergency services want, with the police suggesting neutral venues. One concern, if clubs used their own grounds, would be that fans could congregate outside them, creating a health risk near the stadium, even if it is safe within it.
Football was halted when Arsenal manager Mikel Arteta tested positive for the Covid-19 virus and clubs are likely to seek reassurances over the safety of players and staff.
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%3Cul%3E%0A%3Cli%3ECystic%20fibrosis%20is%20a%20genetic%20disorder%20that%20affects%20the%20lungs%2C%20pancreas%20and%20other%20organs.%3C%2Fli%3E%0A%3Cli%3EIt%20causes%20the%20production%20of%20thick%2C%20sticky%20mucus%20that%20can%20clog%20the%20airways%20and%20lead%20to%20severe%20respiratory%20and%20digestive%20problems.%3C%2Fli%3E%0A%3Cli%3EPatients%20with%20the%20condition%20are%20prone%20to%20lung%20infections%20and%20often%20suffer%20from%20chronic%20coughing%2C%20wheezing%20and%20shortness%20of%20breath.%3C%2Fli%3E%0A%3Cli%3ELife%20expectancy%20for%20sufferers%20of%20cystic%20fibrosis%20is%20now%20around%2050%20years.%3C%2Fli%3E%0A%3C%2Ful%3E%0A
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.”
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
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A list of the animal rescue organisations in the UAE
