The temptation after every draw is to ask if it is a point gained or two dropped. Arsene Wenger highlighted the inconclusive nature of Arsenal’s stalemate at Stoke City by arguing it was both. “It’s a positive result. But we missed two points,” he said.
The Frenchman was doubly right. Arsenal avoided defeat at a venue where they usually lose. They did so without four of their first-choice midfield, in Mesut Ozil, Alexis Sanchez, Santi Cazorla and Francis Coquelin. They showed some of the attributes, such as character and resilience, which they have been deemed lacking in past years.
And yet they did not win, just as they did not in Wednesday's rather more action-packed 3-3 draw at Anfield against Liverpool. Two chances to make a statement in the title race have eluded them. Arsenal remain a point ahead of Manchester City whereas they could have been overhauled this week, but they have not produced a result that bears the hallmark of champions on their travels. They demolished Leicester City 5-2 on the road in September, but at a time when most wrongly thought Claudio Ranieri's team were an early season aberration who would fade from contention.
Read more:
Richard Jolly’s EPL team of the week: Cesc Fabregas and Kevin Mirallas spark Chelsea thriller while Bournemouth shine
Steve Luckings: Look out, Arsenal: Bogey team Leicester City refuse to budge from EPL title race
Arsenal have accumulated points without fully imposing their authority on this most closely congested of title races. That is partly a product of the fixture list. Their toughest away games were backloaded, most coming in 2016. They have weathered two this week. They still have to visit Manchester United, Tottenham Hotspur, Everton, West Ham United and Manchester City, in that order. Their chances of winning a first title in 12 years will be determined in those five games.
Take 10 points or more and they will surely be crowned champions. Take five or fewer and it is almost certain they will not. End up with something in between, such as seven or eight, and it could go either way. Whichever, May’s trip to the Etihad Stadium looks pivotal.
The context renders those five fixtures all the more significant. There were many among the Arsenal support who had resigned themselves – albeit, in some cases, amid noisy complaints – that Wenger’s reign would continue with an endless sequence of third- and fourth-place finishes. Previous title tilts, in 2008, 2010, 2014, have nonetheless culminated in familiar surroundings. The 2003/04 Invincibles are unrivalled in history and unmatched by their successors in Arsenal shirts, who have been unable to win the Premier League, with or without losing any games.
Then an extraordinary opportunity has presented itself. It is the product of progress; of finally signing a high-class goalkeeper, in Petr Cech; of belatedly developing the nous to use a defensive midfielder, in Coquelin (when fit); of abandoning the fixation with youth to field a core in their late twenties or early thirties; of a Wenger-esque faith in a flair player, in Ozil, being reward; of individual improvement, whether Hector Bellerin or Olivier Giroud; of a greater resolve on the road, which they began to demonstrate in the second half of last season.
But it is also a chance fashioned by others’ failures. Chelsea’s capitulation has caught everyone by surprise, but they are unlikely to be as abject again. Manchester United are underachievers who will be able to wield a vast budget again in the summer and ought to improve, especially if Louis van Gaal is no longer their manager. City would be a more formidable proposition under Pep Guardiola. Liverpool should benefit from spending longer under Jurgen Klopp and importing more of his preferred players.
The title may be won this season with under 80 points, for the first time this millennium, before the bar is raised again next year. Others have created a void, with their missteps and mistakes. Arsenal could fill it, fundamentally changing the narrative of the second half of Wenger’s career, or they could reinforce his critics’ cases by passing the chance up.
Adversity, in the form of the ever-present injuries, would be a reasonable explanation that some would still brand an excuse. Draws, such as those at Liverpool and Stoke, were respectable but not decisive. And so it seems that Arsenal have five games to decide their destiny.
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GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
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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.”
Blue%20Beetle
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Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
KILLING OF QASSEM SULEIMANI
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Islamic%20Architecture%3A%20A%20World%20History
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Five hymns the crowds can join in
Papal Mass will begin at 10.30am at the Zayed Sports City Stadium on Tuesday
Some 17 hymns will be sung by a 120-strong UAE choir
Five hymns will be rehearsed with crowds on Tuesday morning before the Pope arrives at stadium
‘Christ be our Light’ as the entrance song
‘All that I am’ for the offertory or during the symbolic offering of gifts at the altar
‘Make me a Channel of your Peace’ and ‘Soul of my Saviour’ for the communion
‘Tell out my Soul’ as the final hymn after the blessings from the Pope
The choir will also sing the hymn ‘Legions of Heaven’ in Arabic as ‘Assakiroo Sama’
There are 15 Arabic speakers from Syria, Lebanon and Jordan in the choir that comprises residents from the Philippines, India, France, Italy, America, Netherlands, Armenia and Indonesia
The choir will be accompanied by a brass ensemble and an organ
They will practice for the first time at the stadium on the eve of the public mass on Monday evening
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
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."