A report published on Monday night in German outlet Sport1 says Granit Xhaka "has probably found his new employer" and that it is Arsenal.
The German-language report says, roughly, "for months now there have been all sorts of rumours" regarding the future of the Borussia Monchengladbach midfielder. Under a headline that reads "Xhaka to Arsenal already fixed?" and a line reading "Granit Xhaka is probably changing to Arsenal from England" Sport1 say they have learned he is imminently headed for "a switch to Arsenal".
The report posits that rumours have died down surrounding Xhaka in recent weeks because his future may be “already settled”.
Gladbach, who thanks to goal difference effectively have fourth place locked up in the Bundesliga with one match to play, will be playing in the Champions League play-off round next season with a chance to return to the group stage. Xhaka, a Kosovo-born Switzerland international, made 27 league starts for the club, and another five in their Champions League campaign.
• Read more: Forget Leicester – what about the topsy-turvy seasons for Arsenal and the rest?
• Also see: The National's Transfer Talk page
A talented defensive midfielder, the 23-year-old would be a natural reinforcement to an Arsenal side who have long lacked depth at the position. Until this year, with the emergence of Francis Coquelin, Arsene Wenger rarely even had a single natural fill for the role.
The Sport1 report says Xhaka has a release clause in his contract that is expected to cost €30-40 million (Dh125.5-167.4m). His contract runs until 2019.
Asked recently by Kicker magazine about his future, Xhaka reportedly said, "the decision is not solely to me," referencing his contract situation.
At €30-40 million (£ 23.7-31.6m) Xhaka would rival some of Arsenal's most pricey recent transfers, including the July 2014 purchase of Alexis Sanchez (£30m) from Barcelona and the September 2013 outlay for Mesut Ozil (£42.5m) from Real Madrid.
It remains to be seen whether Wenger will even have a future at the club to dictate, with discontent swirling among supporters after a season that has seen them come up well short in a title bid and looks likely to even produce rivals’ Spurs first finish above Arsenal in over 20 years.
The German report couched its certainty multiple times, however, punctuating with question marks and tweeting out a graphic that merely said, “Xhaka and Gunners agreed?”
Xhaka has been a mainstay in Monchengladbach since his move from FC Basel prior to the 2012/13 season, and he helped them climb from eighth that year to fifth the next and into the Champions League places the past two years. He also helped Switzerland reach the 2014 World Cup and will figure prominently into the Swiss Euro 2016 effort.
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Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
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Al Bateen beach
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Dubai
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Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
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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COMPANY PROFILE
Name: Mamo
Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua
Based: Dubai, UAE
Number of employees: 28
Sector: Financial services
Investment: $9.5m
Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors.