Manchester City defeated Wolves 3-1.
Manchester City defeated Wolves 3-1.

Manchester United grind it out at Everton



Everton 0-1 Manchester United

Manchester United boss Sir Alex Ferguson felt his side came through a stern test at Everton.

The champions were not at their best but did enough to get back to winning ways in the English Premier League after last week's mauling by Manchester City.

Everton had a number of chances to claim a point at Goodison Park but lacked a genuine cutting edge and Javier Hernandez's 19th-minute tap-in proved decisive as United won 1-0.

Ferguson told TV reporters: "It was a hard game and we expected that because every time you come to Everton the crowd get behind them and show great enthusiasm.

"But in the main, in the first half particularly, we did very well and in the second half we defended well and that was the pleasing aspect for me, winning 1-0.

"We decided to play Park (Ji-sung) in a wide position and he did very well for us but we still created the best chances in the game - Park the very first minute.

"Everton put in a lot of crosses but we managed to get them away and [David] De Gea didn't have much to do really."

Swansea 3-1 Bolton

Swansea maintained their unbeaten Premier League home record as three second-half goals saw off Bolton at the Liberty Stadium.

The game was turned decisively in the hosts' favour early in the second half as Bolton had Ricardo Gardner sent off after collecting a second booking and Joe Allen gave Swansea the lead from the resulting free-kick.

Scott Sinclair got the second as he converted his third spot-kick of the season in the 57th minute after Darren Pratley, formerly of Swansea, had fouled Angel Rangel in the area.

Bolton were given a lifeline when Swansea conceded at home for the first time this term as Graham put through his own net, but the club record signing redeemed himself by slotting his fourth goal in four games in added time as Swansea claimed a vital three points ahead of upcoming fixtures against Liverpool and Manchester United.

Manchester City 3-1 Wolves

Manchester City overcame Wolves at the Etihad Stadium despite having Vincent Kompany sent off to restore their five-point advantage at the top of the Premier League.

City went ahead early in the second half when Edin Dzeko converted the loose ball after Sergio Aguero had pounced on some hesitant play by the previously impressive Wayne Hennessey, and the Wanderers goalkeeper then palmed David Silva's shot into the path of Aleksandar Kolarov, who made it 2-0 in the 67th minute.

Stephen Hunt pulled back a goal from the penalty spot with 15 minutes remaining following Kompany's dismissal for bringing down Kevin Doyle, but substitute Adam Johnson wrapped up the victory for the hosts in stoppage time.

It means it is a case of as you were at the Premier League summit after second-placed Manchester United had cut the gap earlier in the day with their 1-0 win at Everton.

Struggling Wolves, meanwhile, are now winless in eight league fixtures.

Sunderland 2-2 Aston Villa

Stephane Sessegnon snatched a point for Sunderland in a storming finish at the Stadium of Light which completely eclipsed the much-publicised return of Darren Bent.

Benin international Sessegnon stooped to nod home a Sebastian Larsson free-kick with one minute left after Richard Dunne had appeared to win it for Villa.

Dunne had risen highest to head the visitors back in front five minutes earlier after Connor Wickham had cancelled out Stilyan Petrov's stunning 20th-minute opener.

Bent, who was booed throughout on his first return to Wearside since his January move south, had missed a fine chance in the 70th minute when he shot straight at substitute keeper Kieran Westwood.

Norwich 3-3 Blackburn

Norwich captain Grant Holt came off the bench to net a stoppage-time penalty as Blackburn were denied a much-needed win in an entertaining 3-3 draw at Carrow Road.

Barclays Premier League's bottom club Rovers, who beat Newcastle to reach the Carling Cup quarter-finals in midweek, took the lead on the stroke of half-time through Junior Hoilett.

Although Wales striker Steve Morison levelled with a well-taken strike on 53 minutes, two quick goals from Ayegbeni Yakubu and captain Christopher Samba looked to have secured a much-needed first away win for under-pressure Steve Kean.

However, the Canaries grabbed a lifeline with eight minutes left through Bradley Johnson's deflected effort.

Substitute Holt, whose scored in last week's battling 1-1 draw at Anfield, earned the never-say-die Canaries a point in stoppage time from the spot after Steven Nzonzi handled at the far post.

Chelsea 3-5 Arsenal

Robin van Persie was delighted with a "big, big win" for Arsenal after his hat-trick helped the Gunners secure a dramatic 5-3 win at Chelsea.

John Terry had looked like ending a bad week on a high after putting Chelsea 2-1 ahead at half-time, but the captain's slip allowed Van Persie to put Arsenal 4-3 up and the Dutchman completed his treble in the closing minutes.

"You could see how happy we are at the end because we fought hard and every one of us showed character," Van Persie said on Sky Sports 2.

"It's a big, big win for us today."

Asked about his second goal, Van Persie added: "I was surprised (when Terry slipped) because it was an easy back pass and I only saw later that he slipped because I was closing him down.

"I suddenly realised I was one on one with [Petr] Cech and a couple of things came to my mind to do, but I did the easiest one."

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.”

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

MATCH INFO

Euro 2020 qualifier

Croatia v Hungary, Thursday, 10.45pm, UAE

TV: Match on BeIN Sports

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