Germany’s Shkodran Mustafi and Jonas Hector celebrate winning the Confederations Cup while Chile’s Alexis Sanchez looks dejected. Darren Staples / Reuters
Germany’s Shkodran Mustafi and Jonas Hector celebrate winning the Confederations Cup while Chile’s Alexis Sanchez looks dejected. Darren Staples / Reuters

Sanchez's Chile made to pay for mistakes as Germany's 'B team' win Confederations Cup



Chileans brought the noise and effort, Germany brought the nous and efficiency, and defender Marcelo Diaz brought the noose to slip around his own country’s neck.

Germany, just days after winning the European Under 21 Championship, on Sunday night benefited from an avoidable defensive error to triumph 1-0 in a fiery and fervent final to be crowned Confederations Cup winners and exhibit their potential to defend the World Cup next summer.

The South American supporters far outnumbered their German counterparts inside the St Petersburg Stadium and after a rousing extra verse of the Chilean national anthem, their players appeared vastly more motivated. They utterly dominated the opening exchanges – exactly what Joachim Low, the German manager, had warned his young squad to avoid.

Low had spoken of the need for his inexperienced side to start strongly after conceding inside the opening six minutes when the two teams tied 1-1 in the group stage. Alexis Sanchez pressured Leon Goretzka into a mistake after just four minutes that led to an early chance for Charles Aranguiz. Moments later, Eduardo Vargas dispossessed Goretzka again, but his rifled shot was gratefully smothered by Marc-Andre ter Stegen.

Sanchez was proving a furious, Tasmanian Devil-like presence, but he failed to convert from close range in the 20th minute and was made to pay. Perhaps taking a leaf out of the Arsenal forward’s playbook, Timo Werner pounced on sloppy play by Marcelo Diaz inside the Chilean area. With Claudio Bravo rushing out his goal, Werner calmly passed across the goal for Lars Stindl to put his country into the lead and leave Diaz with a face as red as his shirt.

It was completely against the run of play and served only to awaken the world champions, who could have twice doubled their lead through Goretzka. The Schalke midfielder dragged his first effort wide of the far post and on the stroke of half time saw a second chance saved by Bravo.

Diaz was replaced by striker Leonardo Valencia shortly after the restart, but a skirmish between Joshua Kimmich and Vidal, his teammate at Bayern Munich, saw tempers begin to fray as the South Americans threatened to lose focus.

Gonzalo Jara, just minutes after managing a vital touch to steer Julian Draxler’s shot wide, was lucky not to be dismissed for an elbow on Werner. Referee Milorad Mazic, after consulting a video replay, decided to show only a yellow. Then when Sanchez went down in the area, the Chilean bench implored Mazic to review his decision.

A late double substitution by Juan Antonio Pizzi almost immediately paid off as Edson Puch stole the ball ahead from Ter Stegen and found Angelo Sagal, but the Huachipato striker blazed over an open goalmouth.

The victory is further proof of Germany’s strength in depth, but Chile must feel this was a chance gone begging to claim an intercontinental title. For all Vidal’s claims that Low’s squad is here on merit, German media billed the inexperienced squad as “not even the B team” for a reason and Chile, who have not progressed past the round of 16 at a World Cup since finishing third on home soil in 1962, must learn from this defeat if they are to avoid further disappointment next summer.

The German juggernaut, meanwhile, show no signs of slowing.

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Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

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Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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  • 2018: Formal work begins
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  • November 2022: Additional 19 volumes released
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  • November 2024: All 127 volumes completed
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Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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.”

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Short squeeze

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1. Bantamweight: Victor Nunes (BRA) v Siyovush Gulmamadov (TJK)

2. Featherweight: Hussein Salim (IRQ) v Shakhriyor Juraev (UZB)

3. Catchweight 80kg: Rashed Dawood (UAE) v Khamza Yamadaev (RUS)

4. Lightweight: Ho Taek-oh (KOR) v Ronald Girones (CUB)

5. Lightweight: Arthur Zaynukov (RUS) v Damien Lapilus (FRA)

6. Bantamweight: Vinicius de Oliveira (BRA) v Furkatbek Yokubov (RUS)

7. Featherweight: Movlid Khaybulaev (RUS) v Zaka Fatullazade (AZE)

8. Flyweight: Shannon Ross (TUR) v Donovon Freelow (USA)

9. Lightweight: Mohammad Yahya (UAE) v Dan Collins (GBR)

10. Catchweight 73kg: Islam Mamedov (RUS) v Martun Mezhulmyan (ARM)

11. Bantamweight World title: Jaures Dea (CAM) v Xavier Alaoui (MAR)

12. Flyweight World title: Manon Fiorot (FRA) v Gabriela Campo (ARG)

Super Rugby play-offs

Quarter-finals

  • Hurricanes 35, ACT 16
  • Crusaders 17, Highlanders 0
  • Lions 23, Sharks 21
  • Chiefs 17, Stormers 11

Semi-finals

Saturday, July 29

  • Crusaders v Chiefs, 12.35pm (UAE)
  • Lions v Hurricanes, 4.30pm
UAE currency: the story behind the money in your pockets
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

Votes

Total votes: 1.8 million

Ashraf Ghani: 923,592 votes

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Business Insights
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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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