Kalba's head coach Ze Mario.
Kalba's head coach Ze Mario.
Kalba's head coach Ze Mario.
Kalba's head coach Ze Mario.

Kalba are up for a Pro League relegation scrap


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DUBAI // Ze Mario will not give up hope that Kalba can avoid relegation until it is mathematically impossible.

With four games to play, Kalba are at the bottom of the Pro League with 10 points, with Dibba Al Fujairah four points above them and Al Shaab on 18.

Ze Mario's men will be playing three of those matches at home, and the Brazilian is hoping his team can make the most of that advantage, starting with a win over Al Wasl.

"We are in an unenviable position," the coach said. "There is no option ahead of us, but to win each of our remaining four matches. Any other result would mean the club heading back to Division One. So while the task for us is really difficult, we will cling to our slim hopes and fight till the final minutes, because nothing is impossible in football.

"Mathematically, we still have a chance and we need to come together as one - the players, the management and the fans - and seize this opportunity.

"I have great confident in my team and their ability to fight. Plus, we will be playing at home, with the fans backing us. So I hope we can finally get a win, because it is essential to our hopes of surviving in the Pro League for next season."

Kalba have only three wins in 22 league matches this season, the last of which came against Al Nasr in February. Earlier in the first half, they had defeated Dibba and Al Dhafra and split points with Dubai.

However, the Wasl manager, Eid Baroot, has warned his players against taking their opponents lightly.

"We should win this game and improve our position on the points table," Baroot said.

"But we should be careful and not make the mistake of taking our opponents lightly.

"If you look at our matches this season, we have lost to Dibba and Al Dhafra, and won against the higher-ranked teams.

"This means we have a mentality problem and the players need to take every game seriously and play at the same level all the time, no matter which team we are playing."

The visitors will be missing four players for the game. Saud Saeed, Cameroonian midfielder Achille Emana and goalkeeper Ahmed Mahmoud are injured, while Fahd Hadeed is suspended.

In their absence, Rashid Ali will don the gloves and Maher Jassem, Hassan Ali and Mohammed Jamal could get a start.

arizvi@thenational.ae

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How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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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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