Carlo Ancelotti said he is relishing bidding for Real Madrid’s tenth European title after their historic 4-0 win over Bayern Munich in the Champions League semi-final, second-leg.
Real blasted their way into the final 5-0 on aggregate and will face either neighbours Atletico Madrid or Jose Mourinho’s Chelsea on May 24 in Lisbon as Bayern suffered their heaviest European home defeat on Tuesday.
Real centre-back Sergio Ramos produced two early bullet headers to put the visitors 2-0 up after 20 minutes before Cristiano Ronaldo scored twice to complete the rout.
His brace left Ronaldo with a record 16 Champions League goals this season to eclipse the previous best tally of 14 in a season set by Barcelona’s Lionel Messi in 2011/12 and Jose Altafini of AC Milan in 1962/63.
Real, who last reached the European final in 2002, are now one game away from ‘La Decima’ - their 10th European title - and Ancelotti is through to his fourth Champions League final as a coach, equalling the record.
“To reach the final after 12 years, that is a fantastic objective to have reached,” said the 54-year-old Ancelotti, who replaced Mourinho as Real coach at the start of the season.
“When I came to Madrid, there was a special atmosphere and you can feel the desire to win ‘La Decima’.
“The players were fantastic and we have to keep the same attitude for the final.
“This is one victory here and nothing else.
“We’re happy to beat the defending champions, we managed to prevent them from scoring in either leg and controlled both matches very well, so we deserved the win.”
Having won the Champions League title in 2003 and 2007 with AC Milan, Ancelotti could face his former club Chelsea in the final after they host Atletico in Wednesday’s other semi-final.
“Chelsea are really strong and have a lot of confidence, but it doesn’t really matter who we’ll face, just that we are there,” he said having coached Chelsea from 2009-11.
The only downside to Real’s stunning win in Germany was the loss of Xabi Alonso for the final after he picked up his third booking of the campaign for a first-half foul.
“We’re sad to lose Xabi Alonso, not just for tactical reasons, but he’s also a big loss as a personality. We’re sad for him,” added Ancelotti.
Goal-scorer Ramos said it was a dream to reach the final.
“Today, Madrid went to a level that will be recognised across the world and to score two goals is a dream,” he said.
“The final in Lisbon is a dream. It has been a long time coming and we need to thank all our fans.
“I hope everyone at home is enjoying tonight.”
Having beaten Barcelona in the Copa del Rey final, Real can claim more silverware this season.
“There are still more games to come, but we want to just enjoy the moment, the expectations are now huge in Madrid,” said Real’s Welsh star Gareth Bale.
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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.
“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.”
Tailors and retailers miss out on back-to-school rush
Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”
A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.
“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”
Credits
Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5
Bert van Marwijk factfile
Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder
Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia
Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands
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Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press
Hotel Data Cloud profile
Date started: June 2016
Founders: Gregor Amon and Kevin Czok
Based: Dubai
Sector: Travel Tech
Size: 10 employees
Funding: $350,000 (Dh1.3 million)
Investors: five angel investors (undisclosed except for Amar Shubar)
The specs
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Engine: 5-litre V8
Transmission: Eight-speed auto
Power: 520hp
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Fuel economy, combined: 12.8L/100km
The biog
Fatima Al Darmaki is an Emirati widow with three children
She has received 46 certificates of appreciation and excellence throughout her career
She won the 'ideal mother' category at the Minister of Interior Awards for Excellence
Her favourite food is Harees, a slow-cooked porridge-like dish made from boiled wheat berries mixed with chicken
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Transmission: eight-speed automatic
Power: 715bhp
Torque: 900Nm
Price: Dh1,289,376
On sale: now
The specs
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Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
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