Terence Chim of Hong Kong, left, shoots the puck during his side's 11-0 win over Macau at Zayed Sports City.
Terence Chim of Hong Kong, left, shoots the puck during his side's 11-0 win over Macau at Zayed Sports City.

Hong Kong overwhelm neighbours



ABU DHABI // The South China Sea derby came to the ice of the capital yesterday as Macau and Hong Kong faced off in the Challenge Cup of Asia at Zayed Sports City. However, while the two Special Administrative Regions of China are just a short ferry ride apart, there remains a gulf between the two nations on the ice.

As Chi To Scott Yang, the Hong Kong netminder for their 1-1 draw against Singapore on Sunday, said before the game: "Macau is a team we are supposed to beat. They understand we always beat them. It's more of a friendly reunion." Macau were pointless in the 2008 Challenge Cup of Asia and started this year's tournament with a 7-0 defeat against the UAE. Macau have never vanquished Hong Kong on the ice and it was a situation that they never looked like rectifying.

Danny Chiu opened the scoring for the Hong Kongers with just 35 seconds on the clock and two minutes later Wai Yuen Chu doubled the lead. The period ended 3-0 and the game continued in a similar vein as Hong Kong put pressure on the overworked Macau netminder Telin Chu. The Hong Kongers were effective in generating traffic in front of Chu and the next periods both yielded four goals for Hong Kong as their netminder King Chi King Ho remained largely a spectator.

"I expected the win but didn't expect this score," said Yang, after watching his team's 11-0 victory from the bench. "It was an improvement from the Singapore game and we needed to run up the score in case goal differential comes into play. We did what we had to do." Apart from Macau and the tournament debutants India, the other nations in Abu Dhabi still harbour championship hopes. But more importantly, the Challenge Cup of Asia is seen as an opportunity for the long-term growth of the sport in unlikely locales, including the UAE.

While ice hockey and the UAE might seem unusual, even incongruous, bedfellows, the metaphorical playing field at the tournament is more even than it appears. A lack of full-size rinks and a lack of affordable ice time are common complaints among the competitor nations. Perhaps nowhere is this more stark than with Mongolia, who opened the day's action with a 10-0 victory over India. "We don't have an indoor ice rink," said Enkhbayar Shinebayar, the head coach.

"We can play outside only between December and February. During that time we can play on the natural ice but in the middle of February the ice is gone and we then do off-ice training," he added. Shinebayar was impressed with his opponents but felt his team should have done better against an Indian side, who occasionally displayed some tactical naivety. "I am happy with the game today, but I think we could have scored more. India showed spirit. They are like where we were a few years ago."

In another one-sided encounter yesterday, Thailand defeated Malaysia 8-2. In a feisty game, the scoreboard was untroubled until the Thais took the lead with eight minutes left in the first period. Led by their captain and man-of-the-match Tewin Chartsuwan, the Thais then put away seven more goals, and with two minutes left looked on course for a shut-out before the battling Malaysians scored two consolation strikes.

To add to Malaysia's woes, their influential forward Loke Ban Kin - the tournament's best player in 2008 - left the ice injured. @Email:pchayney@thenational.ae

Smart words at Make Smart Cool

Make Smart Cool is not your usual festival. Dubbed “edutainment” by organisers Najahi Events, Make Smart Cool aims to inspire its youthful target audience through a mix of interactive presentation by social media influencers and a concert finale featuring Example with DJ Wire. Here are some of the speakers sharing their inspiration and experiences on the night.
Prince Ea
With his social media videos accumulating more half a billion views, the American motivational speaker is hot on the college circuit in the US, with talks that focus on the many ways to generate passion and motivation when it comes to learning.
Khalid Al Ameri
The Emirati columnist and presenter is much loved by local youth, with writings and presentations about education, entrepreneurship and family balance. His lectures on career and personal development are sought after by the education and business sector.
Ben Ouattara
Born to an Ivorian father and German mother, the Dubai-based fitness instructor and motivational speaker is all about conquering fears and insecurities. His talk focuses on the need to gain emotional and physical fitness when facing life’s challenges. As well managing his film production company, Ouattara is one of the official ambassadors of Dubai Expo2020.

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Uefa Champions League semi-final, second leg result:

Ajax 2-3 Tottenham

Tottenham advance on away goals rule after tie ends 3-3 on aggregate

Final: June 1, Madrid

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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.”

Cricket World Cup League Two

Oman, UAE, Namibia

Al Amerat, Muscat

 

Results

Oman beat UAE by five wickets

UAE beat Namibia by eight runs

 

Fixtures

Wednesday January 8 –Oman v Namibia

Thursday January 9 – Oman v UAE

Saturday January 11 – UAE v Namibia

Sunday January 12 – Oman v Namibia


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