ESPN in Brazil have, for reasons best known to themselves, been publicising Saturday’s meeting between Liverpool and Chelsea as “the English clasico”, a term that nobody in Britain has heard of and that makes little historical sense.
The clubs have never enjoyed periods of success at the same time and there is no geographical or socio-political reason for a major rivalry.
Yet, nonsensical as that marketing may be, it is true that there is a strange animosity between the clubs these days.
Its roots probably lie in the 2005 Champions League semi-final and the infamous “ghost goal” that won it for Liverpool – although Jose Mourinho’s bitterness at the incident continues to ignore the fact that if the goal had not been given to Luis Garcia, for a shot that probably did not cross the line, the outcome would have been a penalty to Liverpool and a red card for Petr Cech.
There followed an intense spell of personal sniping between Rafa Benitez and Mourinho, in the course of which Benitez made the comment about Chelsea’s plastic flags that led to the general antipathy when he took over as interim manager at Stamford Bridge the season before last.
Recent events have done little to ease tensions, despite the fact that Brendan Rodgers is a Mourinho protege.
It was Chelsea who effectively ended Liverpool’s hopes of winning the title in this fixture last season, capitalising on the home side’s naivetes.
A 0-0 draw would have suited Liverpool, but when Chelsea began wasting time early in the game, rather than going along with it, they allowed themselves to become riled.
Chelsea waited for a mistake, which came when Steven Gerrard slipped just before half-time, allowing Demba Ba in to score. Willian then added the killer second on the break in injury time.
Rodgers was clearly frustrated by that, suggesting that any side could set up to defend, although it is something his team continues to find hard to do.
In his recently released autobiography, Luis Suarez reignited the issue of Chelsea’s approach, suggesting that at least one Chelsea player was “embarrassed” by their spoiling tactics.
Chelsea have responded, with Mourinho making a not particularly veiled criticism of Rodgers’s decision to change his team radically for Tuesday’s Champions League game against Real Madrid, while players defended the way they set up at Anfield last season.
“In that game we showed we had quality,” Chelsea midfielder Nemanja Matic said. “Nobody is happy when you lose and they were not happy after the game.
“Now it is a different story. We will play in a different way. But many teams tried to park the bus in front of the goal against us and we managed to win. It is not easy. If you defend, you have to know how to defend.”
Matic’s Serbia teammate Branislav Ivanovic was equally scathing of Liverpool’s performance last season.
“It was three games to go,” he said. “They were fighting for the title and they wanted to win. They struggled in a must win.
“Now it is different. We are top of the table and it is difficult at Anfield, but our team knows how to win there. We know what we have to do to be successful.”
There is a strange feeling about this season, almost as though Chelsea have reached the run-in already.
Not only are they unbeaten and four points clear of Southampton and six clear of Manchester City at the top of the table, but they already have played both Manchester clubs and Everton away from home.
In that sense, the Liverpool game stands as the greatest remaining hurdle between them and the title.
Recent games – the edgy wins over Shrewsbury in the League Cup, and Queens Park Rangers in the league, followed by the 1-1 draw away to Maribor in the Champions league – have dulled the sense of remorselessness, a little.
Mourinho accepted responsibility for his players’ complacency.
“Many times surprises happen when people are not fully focused, when they believe the game can’t be a difficult one,” he said. “I was conscious of it, but I was not successful in passing over that message.
“If I cannot convince the players that the game is difficult and you have to play from minute one, obviously it’s my responsibility.”
Convincing the players that the Liverpool game is an important one should not be an issue.
It is only November, but already it feels as though they are only a couple of tricky fixtures from sealing the title.
Mourinho always wins the championship in his second season at a club and it feels an awful lot like he is about to do it again.
sports@thenational.ae
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
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%206-cylinder%203-litre%2C%20with%20petrol%20and%20diesel%20variants%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20automatic%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20286hp%20(petrol)%2C%20249hp%20(diesel)%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E450Nm%20(petrol)%2C%20550Nm%20(diesel)%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EStarting%20at%20%2469%2C800%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
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.”
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
More from our Neighbourhood series:
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills