Borisov captain Hleb has been leading by example.
Borisov captain Hleb has been leading by example.
Borisov captain Hleb has been leading by example.
Borisov captain Hleb has been leading by example.

Hleb is back at the forefront in Champions League


Ian Hawkey
  • English
  • Arabic

Elite football has many ways of bringing a man sharply down to earth. Sometimes it is via the wise advice of colleagues.

When Alexander Hleb secured the dream transfer of his much-travelled career, from Arsenal to Barcelona in the summer of 2008, he was invited with the rest of the squad to select a car from the club's sponsors.

He pointed to the biggest, most bling model. Not a good idea, cautioned a senior Barca player, adding: "If you drive around in that, our fans will think you are flashy and arrogant."

Hleb had an unhappy time at a Barcelona who were about to embark on a phase of unprecedented success.

Injuries eroded his confidence, stalled his momentum and he was slow to adjust to the pass-and-move routines of an attacking midfield which he, with his fine technique and vision, ought to have complemented.

He went out on loan, to Birmingham City, then to Wolfsburg. In English football, with Arsenal, he had earned a reputation as an elegant, creative player; with Stuttgart, in his early teens, he had dazzled the Bundesliga. His second stints in England and Germany would both be less prosperous than his first ones.

Hleb is 31 and has gone back to his roots. The Belarusian joined BATE Borisov last summer, after six months with Krylia Sovetov Samara in Russia and says he feels fit, and happy to be home.

Borisov were his first senior club, although in those days, the late 1990s, a talent like Hleb was bound to look abroad if he wanted to play in the Champions League.

But the Borisov he has returned to are becoming a regular fixture in the competition. This is their third adventure in the group phase, and Hleb was delighted with how it began.

He played an important role, prompting from deep their swift counterattacks in the 3-1 away win at Lille in France.

Bayern Munich, last season's Champions League finalists and the winners against Valencia two weeks ago, are in Belarus tonight to renew acquaintance with a footballer they once coveted.

Bayern showed interest in signing Hleb when he seemed marginalised at Barcelona; so did Inter Milan. There is plenty of respect across the upper echelons of European club football for the blond, wispy Belarus captain.

There is also a growing wariness of what his current team might achieve.

Hleb last month set a target for Borisov of more than two points from the group stage. They have reached that already.

"We want to show we are up to playing at this level," he told reporters. "It is a hard group and although we are top now, we are long way from being favourites to go through."

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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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Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
 

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

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Singapore

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Saudi Arabia

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South Korea

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Schedule:

Pakistan v Sri Lanka:
28 Sep-2 Oct, 1st Test, Abu Dhabi
6-10 Oct, 2nd Test (day-night), Dubai
13 Oct, 1st ODI, Dubai
16 Oct, 2nd ODI, Abu Dhabi
18 Oct, 3rd ODI, Abu Dhabi
20 Oct, 4th ODI, Sharjah
23 Oct, 5th ODI, Sharjah
26 Oct, 1st T20I, Abu Dhabi
27 Oct, 2nd T20I, Abu Dhabi
29 Oct, 3rd T20I, Lahore

MATCH INFO

Uefa Champions League semi-finals, second leg:

Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE

Game is on BeIN Sports

MATCH INFO

Fixture: Thailand v UAE, Tuesday, 4pm (UAE)

TV: Abu Dhabi Sports

MATCH RESULT

Liverpool 4 Brighton and Hove Albion 0
Liverpool: 
Salah (26'), Lovren (40'), Solanke (53'), Robertson (85')    

Day 3 stumps

New Zealand 153 & 249
Pakistan 227 & 37-0 (target 176)

Pakistan require another 139 runs with 10 wickets remaining

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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2. They can be created when massive stars collapse under their own weight

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4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed