Lebanon fans enjoyed the game against UAE with an eye on other results in the group.
Lebanon fans enjoyed the game against UAE with an eye on other results in the group.
Lebanon fans enjoyed the game against UAE with an eye on other results in the group.
Lebanon fans enjoyed the game against UAE with an eye on other results in the group.

Mixed feelings for Lebanon after loss to 'remarkable turnaround'


Amith Passela
  • English
  • Arabic

Hassan Maatouk and Yousef Mohammed, the Lebanese internationals who play in the Pro League, had mixed feelings after their national team's 4-2 defeat to the UAE in their final 2014 World Cup group stage qualifying game

“I am very happy because we have qualified for the next round for the first time ever, and I am sad because we couldn’t deliver the result for our fans,” said Maatouk, who plays for Ajman.

“It was a very entertaining match with six goals scored between the two teams.

“We couldn’t take the momentum of the first half forward but I feel we did very well in the group stage of the qualifier.

“At the beginning of this qualifying round of the competition, nobody expected us to come this far, particularly after the 6-0 defeat in the first game to South Korea. That defeat left us humiliated and we came back as a stronger team.

“We beat the Korean 2-1 in the return match and that was quite a remarkable turnaround. I think we have done extremely well so far and hopefully continue to improve our game and do our best in the play-off.”

Maatouk scored the second equaliser in first-half added time for the two teams to go into the break 2-2.

Mohammed said there was no magic formula for their best ever World Cup qualifying campaign.

“It was sheer hard work all the way,” Mohammed, who plays for the Dubai club Al Ahli, said.

“We have managed to gel as a pretty decent team and we have got a good coach [Theo Bucker] to work with.

“He has made a big difference in the team. He has motivated us and made us think that we can achieve results, which we have done.

“The next stage of the competition is going to be even tougher but that is expected when you move up to another level.”

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Essentials

The flights

Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours. 

The package

Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.

The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

Ferrari
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UAE currency: the story behind the money in your pockets

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.”

Switching%20sides
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Sam Smith

Where: du Arena, Abu Dhabi

When: Saturday November 24

Rating: 4/5