Gareth Southgate is three-quarters of the way into an audition that not only has he already passed, but everyone knows it. It helps that this is a job interview where no one else is being interviewed. It helps, too, that there is a paucity of other candidates for his prospective — and indeed current — employers to consider.
The England job, it seems, is Southgate’s to lose and in such a way that even a respectable defeat on Tuesday night would probably not cost him it. That may be just as well: England normally lose to Spain, usually failing to score. Since Sven-Goran Eriksson’s reign began with a 3-0 win against the Spanish, England have lost four of five subsequent meetings, usually seeing their technical deficiencies exposed by superior passers.
The Swede’s bow came 15 years ago, although Southgate probably didn’t have that in mind when he said England are 15 years behind Spain.
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• Africa round-up: Chelsea pair Victor Moses and John Obi Mikel on target in Nigeria victory
• Richard Jolly: Lucky to beat Luxembourg, Blind's Netherlands in need of vision, identity and a core
Eriksson, expensive, foreign and with a trophy-winning pedigree, heralded an altogether different approach to Southgate. Then the England job held rather more allure than it does now. Then the England Football Association were willing to scour the world. Now they appear to have focused on a diminished English market. If Southgate is the outstanding candidate, it is partly just because of a process of elimination.
Sam Allardyce has come and gone rather ignominiously. Alan Pardew has 24 points from his last 32 league games. Eddie Howe has the judgment to recognise he is better off at Bournemouth. Little wonder Southgate is sufficiently confident that he has called upon the FA to make a decision.
That choice may show that England are 15 years — and one World Cup and two European Championships — behind Spain in one respect, but only a few months behind in another. His counterpart on Sunday night, Julen Lopetegui, has followed a similar career path. He has managed Spain’s age-group teams, winning both the European Under 19 and Under 21 Championships, while Southgate excelled in this summer’s Toulon Tournament.
Both have selected squads that feature healthy contingents of players they have helped develop. As the international game lacks the primacy and the allure of the lucrative club game, it makes more sense to select a manager who knows the players. Spain are blessed with a distinct style of play. England’s search for an identity is compounded by the lack of one, so promoting from within is the closest they get to forging one.
The difference lies in the scrutiny. Managers can rotate with the U21s and comparatively few notice. Every choice with the senior side is put under the microscope. Southgate has already shown himself unafraid to drop his captain, Wayne Rooney, and promote a protégé, in Jesse Lingard, but has had the same core to the side for his three competitive games. A friendly brings a first chance to experiment, but that may be mitigated by the need to avoid the sort of setback that might bring renewed questions if Southgate, the man who oversaw Middlesbrough’s 2009 relegation, is really the man to take charge on a permanent basis.
So he has a balancing act. He is denied Harry Kane, who has returned to Tottenham Hotspur to work on his fitness after injury. He may bring in Jack Wilshere for his first appearance since a disastrous Euro 2016. Jamie Vardy could start while Marcus Rashford perhaps should. Yet the reality is that the majority of Southgate’s starting XI are comparatively inexperienced in their country’s colours so there are reasons to believe that players such as John Stones, Danny Rose, Eric Dier and Raheem Sterling would benefit from facing elite opposition.
For the acting manager, it will be a first chance to test himself against one of the best, but probably not the last.
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Recent winners
2002 Giselle Khoury (Colombia)
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2005 Catherine Abboud (Oceania)
2007 Grace Bijjani (Mexico)
2008 Carina El-Keddissi (Brazil)
2009 Sara Mansour (Brazil)
2010 Daniella Rahme (Australia)
2011 Maria Farah (Canada)
2012 Cynthia Moukarzel (Kuwait)
2013 Layla Yarak (Australia)
2014 Lia Saad (UAE)
2015 Cynthia Farah (Australia)
2016 Yosmely Massaad (Venezuela)
2017 Dima Safi (Ivory Coast)
2018 Rachel Younan (Australia)
Company%20profile
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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.”
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RESULTS
5pm: Watha Stallions Cup Handicap (PA) Dh 70,000 (Dirt) 2,000m
Winner: Dalil De Carrere, Bernardo Pinheiro (jockey), Mohamed Daggash (trainer)
5.30pm: Maiden (TB) Dh 70,000 (D) 2,000m
Winner: Miracle Maker, Xavier Ziani, Salem bin Ghadayer
6pm: Maiden (PA) Dh 70,000 (D) 1,600m
Winner: Pharitz Al Denari, Bernardo Pinheiro, Mahmood Hussain
6.30pm: Maiden (PA) Dh 70,000 (D) 1,600m
Winner: Oss, Jesus Rosales, Abdallah Al Hammadi
7pm: Handicap (PA) Dh 70,000 (D) 1,400m
Winner: ES Nahawand, Fernando Jara, Mohamed Daggash
7.30pm: Maiden (PA) Dh 70,000 (D) 1,000m
Winner: AF Almajhaz, Abdul Aziz Al Balushi, Khalifa Al Neyadi
8pm: Maiden (PA) Dh 70,000 (D) 1,000m
Winner: AF Lewaa, Bernardo Pinheiro, Qaiss Aboud.
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.”
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BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5