BARCELONA // Lionel Messi produced an inspired performance as Barcelona progressed to the quarter-finals of the Champions League, beating AC Milan 4-0 to overturn a 2-0 first-leg defeat.
Messi's form had been questioned by some after Barcelona were knocked out of the Copa del Rey by Real Madrid and looked demoralised in going down to Milan at the San Siro, but the criticism seemed to spur him on as he tore the Italians apart from the start.
He scored at the beginning and end of the first half, while David Villa hit a special goal for himself 10 minutes into the second period after a long run of bad luck with injury and form.
That put the Catalans ahead in the tie for the first time, before Jordi Alba netted in injury-time to seal a 4-2 aggregate win and a place in Friday's quarter-final draw.
On a personal level, Messi's brace saw him reach yet another landmark in an incredible career.
He now has 58 Champions League goals, two more than Ruud van Nistelrooy, and his target now is Raul's all-time best of 71.
"If there was anyone not sure about Messi then this was the perfect response as he took charge of the game with two goals and showed again that he is an extraordinary player, out of this world," said Barca assistant coach Jordi Roura.
"Before we weren't so poor and now we are not so great and I wouldn't describe ourselves as favourites for the competition.
"At any stage of the game until the final goal we could have gone out if we had conceded and I would have said the same that we played well and were composed."
A deflated Massimiliano Allegri accepted Milan were beaten by an exceptional side.
"We didn't play as well as in the first leg but a lot of the merit for this goes to Barcelona as they didn't let us play, particularly in the first half. Barca are the best team in the world," explained the Milan coach.
Even with a two-goal advantage from the first leg, Milan knew they would be in for a tough night but they would have hoped to withstand the Barca pressure for longer than they did.
The home side surged forward from the start and Milan could do nothing when Messi exchanged passes with Xavi Hernandez before stroking a beautiful finish into the top corner from the edge of the area after six minutes.
Milan were not comfortable at the back and Christian Abbiati could only palm an Andres Iniesta shot onto the crossbar. Messi was quickest to the rebound but, from a tight angle, headed into the side-netting.
The tempo was considerably quicker from Barca than in recent matches but they had to be wary of Milan on the counter-attack, even if the visitors were without the injured Giampaolo Pazzini as well as the cup-tied Mario Balotelli.
The near-95,000 crowd could see Barca's Champions League hopes fading in the 38th minute when last-man Javier Mascherano, stretching, could only head the ball to M'Baye Niang.
The youngster bore down on goal, only to see his shot rebound off the far post to safety.
Seconds later, Iniesta fed Messi, who fired in Barcelona's second through the legs of Philippe Mexes from 20 yards.
The Argentine maintained the same drive after the break, firing a volley over the crossbar and tormenting the Italian defence.
But it was the turn of Villa, who had had a quiet night, to get the third as he controlled a Xavi pass and slotted home clinically.
Barca sat back on their lead and, perhaps because of their patchy recent results, got more and more anxious knowing a goal for Milan would still send the Italians through.
Alba made a crucial block to deny substitute Robinho, before the left-back finally eased the tension when he got the fourth goal two minutes into stoppage time.
Alexis Sanchez played in the Spanish international, who kept his cool to knock the ball in.
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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.”
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
Indoor Cricket World Cup
Venue Insportz, Dubai, September 16-23
UAE squad Saqib Nazir (captain), Aaqib Malik, Fahad Al Hashmi, Isuru Umesh, Nadir Hussain, Sachin Talwar, Nashwan Nasir, Prashath Kumara, Ramveer Rai, Sameer Nayyak, Umar Shah, Vikrant Shetty
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
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Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Changing visa rules
For decades the UAE has granted two and three year visas to foreign workers, tied to their current employer. Now that's changing.
Last year, the UAE cabinet also approved providing 10-year visas to foreigners with investments in the UAE of at least Dh10 million, if non-real estate assets account for at least 60 per cent of the total. Investors can bring their spouses and children into the country.
It also approved five-year residency to owners of UAE real estate worth at least 5 million dirhams.
The government also said that leading academics, medical doctors, scientists, engineers and star students would be eligible for similar long-term visas, without the need for financial investments in the country.
The first batch - 20 finalists for the Mohammed bin Rashid Medal for Scientific Distinction.- were awarded in January and more are expected to follow.
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Prophets of Rage
(Fantasy Records)
