Follow the latest news on the 2024 Paris Olympics
Moroccan football has enjoyed an upwards trajectory since a stunning run to the World Cup semi-finals in Qatar almost two years ago.
The Atlas Lions became the first African or Arab nation to secure a berth in the last four of the global finals, eventually succumbing to France 2-0.
Though there was a notable, and almost inevitable, blip at the rescheduled 2023 Africa Cup of Nations earlier this year, Morocco have established themselves as one of the dark horses in the men's Olympic football tournament in Paris.
A 2-1 win over Argentina amid farcical circumstances last week was followed up with a defeat to Ukraine by the same scoreline. Tuesday's 3-0 victory over Iraq, however, saw them pip Argentina as winners of Group B to secure a quarter-final showdown against USA.
Their guiding light during the group phase was a notable absence from both their historic World Cup run and their insipid Afcon campaign. Soufiane Rahimi, one of the four over-aged players in Issame Charai's squad has registered goals in all three matches so far and will once again spearhead an attack that looks as good as any at these Paris Olympics.
Rahimi's form will come as no surprise to UAE fans. The wispy winger was Al Ain's lodestar in their run to the Asian Champions League final. Rahimi scored three goals across two quarter-final legs against a Cristiano Ronaldo-led Al Nassr where he also converted from the penalty spot in the 3-1 shoot-out win.
A hat-trick against Saudi giants Al Hilal, a side on a record 34-match win streak, put Al Ain firmly in control of the semi-final first leg with the Garden City club advancing to the final 5-4 on aggregate.
A two-legged final against Japan's Yokohama F Marinos was their reward but a 2-1 defeat in Tokyo meant Al Ain had it all to do in the second leg.
But cometh the hour, cometh the man. Within eight minutes Rahimi had levelled the tie and by the end of it he had added a second and had a hand in another as Al Ain ran out 6-3 winners overall to be crowned continental champions for only a second time.
Rahimi finished as top scorer in that competition with 13 goals and he is out on his own in Paris with four strikes.
Two goals either side of half time saw Morocco secure a memorable win over Argentina, although the match will be best remembered for the chaotic scenes that saw fans invade the pitch and objects thrown at the South American players, which resulted in the game being halted.
The final few minutes were played out in front of an empty stadium in Saint Etienne almost four hours after the match kicked off.
Only a late winner denied Morocco a point against 10-man Ukraine after Rahimi had equalised from the penalty spot. He was then Iraq's tormentor-in-chief in their final group game, scoring the second of Morocco's first-half goals, though he was ultimately upstaged by Abde Ezzalzouli's superb strike for the third.
They take on an American side that finished second in Group A behind tournament favourites France thanks to wins over New Zealand and Guinea.
A front three of Griffin Yow, Paxten Aaronson and Kevin Paredes looked particularly sharp in the 3-0 win over Guinea but it is in defence where the Americans have looked vulnerable.
Special attention will need to afforded to Rahimi, the winger who took Asia by storm now looking to do the same in Paris.
Morocco are joined in the last eight by North African neighbours Egypt, who face Paraguay for a place in the semi-finals.
Egypt pulled off a shock 2-1 win over Spain in their final Group C encounter to secure their place in the knockout rounds as group winners.
Rogerio Micale's side got their campaign off to an inauspicious start with a goalless draw against unfancied Dominican Republic but bounced back with a 1-0 win over Uzbekistan before victory over Spain.
Their opponents, Paraguay, have been involved in the two highest scoring matches of the men's tournament so far.
The South Americans were hammered 5-0 in their opener by eventual group winners Japan before rebounding in a 4-2 win over Israel. A 1-0 win over Mali saw them through as runners-up.
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.”
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
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Thursday, February 8 v Kenya; Friday, February 9 v Canada; Sunday, February 11 v Nepal; Monday, February 12 v Oman; Wednesday, February 14 v Namibia; Thursday, February 15 final
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- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
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Second leg: May 1, Santiago Bernabeu, Madrid
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