HAMILTON, NEW ZEALAND // Brazil survived their second-straight penalty shootout, beating Portugal 3-1 on Sunday to advance to the semi-finals of the Fifa Under-20 World Cup.
After beating Uruguay 5-4 in a shootout in the Round of 16, five-time champions Brazil again showed their aptitude from the spot and will now face either Senegal or Uzbekistan on Wednesday.
In another thriller, Serbia advanced to their first semi-final on Sunday with a 6-5 win on penalties over the United States.
That match needed 18 penalties to decide a victor after it finished 0-0 at full time, and in the end it was Serbia who advanced after a marathon shootout.
Serbia’s defence restricted the United States to two shots on target, as Serbia maintained their impressive defensive record which has seen them concede just two goals throughout the tournament.
For the United States, the chance to match their best effort at the tournament since 1989 was dashed despite the efforts of goalkeeper Zackary Steffen.
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Against Brazil, Portugal had been by far the better team in normal time, repeatedly stretching the Brazil defence through Gelson Martins, Rafa and Nuno Santos. But Brazil held on to force the match into extra time, then into a shootout.
“Portugal created more in front of goal than we did and deserved to win today,” Brazil coach Rogerio Micale said. “They were better than us but, that being said, I don’t think anyone can say that we didn’t deserve to go through.”
Manchester United signing Andreas Pereira scored for Brazil and Manchester City’s Rony Lopes replied for Portugal to start the shootout. Then Raphael Guzzo, Andre Slva and Santos all missed for Portugal while captain Danilo and Gabriel Jesus scored to send Brazil through.
Portugal were by far the more creative and more threatening side in a match which failed to live-up to expectations as a clash of bitter rivals and football superpowers.
Brazil seemed lethargic at times, possibly a result of their extra-time clash with Uruguay but also a sign of the wariness which seems to have infected them throughout the tournament. Their clash with Uruguay was also locked at 0-0 after extra time.
“We knew it was going to be tough and that’s how it turned out,” Micale said. “We were tired after playing extra time against Uruguay and we suffered a bit.
“Everyone saw what happened, but in the end we were able to celebrate in the penalty shootout.”
Portugal made the running from the outset and Nunos had the first real chance after only three minutes, pushing his shot wide of the posts. Martins provided an outstanding left-wing cross from Lopes in the 10th minute but Lopes’ header was wide.
The talented Martins was again the provider for Silva in the 14th minute but Silva headed wide with just the keeper to beat.
Fullback Rafa put a slanted shot across the face of goal in the 28th minute, which inched wide of the far post. Among all those chances and against the run of play, Danilo seemed to have put Brazil ahead, rising to head the ball into the back of the net but the whistle had already sounded for a free kick.
Portugal peppered the Brazil goal throughout the second half. Martin’s long range shot in the 72nd mintue was deflected and Silva brought the crowd to its feet when his powerful shot hit the inside of the post and bounced back into play.
Portugal had perhaps the best chance of the match at the end of the first period of extra-time when Santos made a long run out of defence and put the ball perfectly at the feet of Martins who, in a one-on-one with the goalkeeper, shot wide.
Brazil’s Lucao was the first to miss in the penalty shootout, pushing his shot wide of goal. That was immediately negated when Guzzo shot straight at the keeper.
Danilo and Gabriel stepped up to score for Brazil while Silva shot wide and Santos put the crucial kick over the crossbar.
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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.
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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.
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