Zlatko Dalic's Croatia contract was to run until after Euro 2020 but after the tournament was postponed until 2021, he is set to extend for another year. Getty Images
Zlatko Dalic's Croatia contract was to run until after Euro 2020 but after the tournament was postponed until 2021, he is set to extend for another year. Getty Images
Zlatko Dalic's Croatia contract was to run until after Euro 2020 but after the tournament was postponed until 2021, he is set to extend for another year. Getty Images
Zlatko Dalic's Croatia contract was to run until after Euro 2020 but after the tournament was postponed until 2021, he is set to extend for another year. Getty Images

Zlatko Dalic set to be ruled out of UAE contention by agreeing Croatia extension


John McAuley
  • English
  • Arabic

Zlatko Dalic has ruled himself out of becoming UAE manager by agreeing to extend his contract with Croatia, according to reports in his homeland.

The former Al Ain manager, 53, was said to be among the early favourites to succeed Ivan Jovanovic, who was dismissed last week four months into his six-month contract. The Football Association had told The National on Wednesday that it was yet to contact any potential candidates.

Dalic’s deal with Croatia was initially to run until this summer’s Euro 2020, however, with the competition postponed for 12 months because of the coronavirus crisis, it appears he will now sign an extension through to next year’s tournament.

Reports in Croatia on Thursday said Dalic would meet with Davor Suker, the president of the Croatian Football Federation, in the very near future to sign off on a new contract.

Two years ago, Dalic guided Croatia to their first World Cup final, where they were beaten by France. Croatia qualified for the Euros last November by finishing top of their group.

Dalic's stock remains high in the UAE given what he achieved with Al Ain during a three-year stint from 2014. He won the President’s Cup at the end of his first season, before leading the Garden City club to the Arabian Gulf League title in the following campaign.

In 2016, Al Ain reached a first Asian Champions League final in 11 years, although they were defeated 3-2 on aggregate by South Korea's Jeonbuk Hyundai Motors. Dalic departed two months later.

The UAE are in the market for a manager following the decision to dispense with Jovanovic, which came as a relative shock. Appointed in December, the Serbian was given the remit of guiding the UAE through their final four qualifiers in the second round of qualification for the 2022 World Cup.

However, the fixtures were postponed because of the coronavirus, meaning Jovanovic’s contract was terminated before he had taken charge of a match. The rescheduled qualifiers are expected to take place in October and November.

At present, the UAE sit fourth in their group, five points off leaders Vietnam, although they do have a game in hand over all of their rivals. Only the top team are guaranteed to advance to the third phase.

A number of managers have been linked with the vacant position this past week, including former Saudi Arabia manager Juan Antonio Pizzi and Zoran Mamic, Dalic's successor at Al Ain. Mamic is currently sporting director at Dinamo Zagreb. Sources close to Pizzi confirmed to The National that he would be interested in the job.

Aayan%E2%80%99s%20records
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War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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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.”

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

Results

6pm: Dubai Trophy – Conditions (TB) $100,000 (Turf) 1,200m 

Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer) 

6.35pm: Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m 

Winner: Island Falcon, Frankie Dettori, Saeed bin Suroor 

7.10pm: UAE 2000 Guineas Trial – Conditions (TB) $60,000 (Dirt)
1,400m 

Winner: Rawy, Mickael Barzalona, Salem bin Ghadayer 

7.45pm: Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m 

Winner: Desert Fire, Hector Crouch, Saeed bin Suroor 

8.20pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m 

Winner: Naval Crown, William Buick, Charlie Appleby 

8.55pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m 

Winner: Al Tariq, Pat Dobbs, Doug Watsons 

9.30pm: Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m 

Winner: Dubai Icon, Patrick Cosgrave, Saeed bin Suroor  

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