Albert Riera fights for the ball during Liverpool's 3-1 Champions League win against PSV Eindhoven.
Albert Riera fights for the ball during Liverpool's 3-1 Champions League win against PSV Eindhoven.
Albert Riera fights for the ball during Liverpool's 3-1 Champions League win against PSV Eindhoven.
Albert Riera fights for the ball during Liverpool's 3-1 Champions League win against PSV Eindhoven.

Riera now tougher and wiser


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Two years ago Albert Riera had his first taste of English football, but it wasn't quite as sweet as he had hoped, as a five-month loan spell at Manchester City came to nothing. A derby win against Manchester United capped a memorable debut, but just glimpses of his quality and one goal - against Newcastle - in 15 league games meant Stuart Pearce, the then manager, was not prepared to spend the little money he had available.

The Spaniard admitted he returned to Espanyol a wiser player for the experience, more aware of how to tackle rather than be tackled. The fortunes of Riera and City have certainly changed since then as the left winger returns to Eastlands today in Liverpool colours after a summer move. Riera, 26, aims to show the City faithful just how much he has improved. "It will be a little bit of a special match for me," he said. "I enjoyed my time there of course, but in football these things happen.

"If I had stayed at City then I wouldn't have come here to Liverpool. City is in the past and the most important thing for me is the present. I'm not thinking now of City, the three points are the most important thing." Riera could also line-up directly against his friend and former Espanyol teammate Pablo Zabaleta, who has added some bite to the right side of City's defence. But the Liverpool player added: "It is great Pablo is here and we speak all the time. But once on the pitch there are no friends. I will do my best against City and I have it in my mind to score against them. I want to make progress at Liverpool, to put in good performances and win something. I feel I'm getting better all the time."

City can also do better after their recent patchy form. After successive defeats against Brighton and Wigan, Mark Hughes was relieved by Thursday's 2-1 Uefa Cup win over Omonia Nicosia which saw his side reach the group stage. Liverpool will pose a stiffer test than the Cypriots, however, and show City just what they have to do to break into the league's top four. Hughes admitted the Merseyside club are a team to emulate. "Liverpool have been a top-four side for a number of years now," he said. "I sense that this season they will have a real go at trying to win the Premier League. They look confident, strong and assured. They will run the top teams very close. It is a big test for us as they are playing exceptionally well at the moment."

West Ham had some disappointing news ahead of today's game at Upton Park against Bolton when it was revealed that striker Dean Ashton will not play again until next year after undergoing surgery on an injured ankle. West Ham are short of options up front and are weighing up whether to sign out-of-contract Spanish striker Diego Tristan. The Former Deportivo La Coruna and Mallorca forward Tristan, 32, has been capped 15 times by his country.

The Bolton manager Gary Megson has hailed Zola as the finest foreign import to grace the Premier League. Megson rates the former Chelsea favourite's feats at Stamford Bridge above the achievements of Eric Cantona, Dennis Bergkamp and Thierry Henry since the formation of the breakaway league in 1992. And he believes the Italian can transmit his success as a player to the managerial dug-out. "If Zola is anywhere near as good a manager as he was a player then he's going to be a class act," said Megson. "He's a good bloke and as a footballer I think he was one of the top three imports that came into the Premier League. You had Bergkamp, Ruud Gullit and Jurgen Klinsmann, who all raised the standard, but I think the top one was Gianfranco Zola."

David Moyes insists there is no crisis at Everton - and is pointing at the table to prove it. Everton have failed to keep a clean sheet so far this term but Moyes says he will not be panicking about the scenario and is using mathematics to back up his argument. He has noted that if Everton beat Newcastle at Goodison Park today, they will have an identical played seven, won three, drawn one and lost three record as this time last term, a season where they finished fifth in the league in what was hailed as a "successful" year.

Newcastle midfielder Danny Guthrie will be back in the Newcastle squad after missing the last three games through suspension after being sent off for kicking out at Hull's Craig Fagan last month. Aston Villa captain Martin Laursen, whose team travel to Chelsea today, said that the Londoners' long unbeaten league record "has to end sometime". Chelsea have not suffered a league defeat at Stamford Bridge for more than four years but Laursen said: "There is just no arguing with the fact that they are immense on home soil - but that unbeaten record has to end sometime and we will go to Stamford Bridge in a positive mood."

* With agencies

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.”

What is graphene?

Graphene is extracted from graphite and is made up of pure carbon.

It is 200 times more resistant than steel and five times lighter than aluminum.

It conducts electricity better than any other material at room temperature.

It is thought that graphene could boost the useful life of batteries by 10 per cent.

Graphene can also detect cancer cells in the early stages of the disease.

The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.

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If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
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The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

UK’s AI plan
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  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
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OPENING FIXTURES

Saturday September 12

Crystal Palace v Southampton

Fulham v Arsenal

Liverpool v Leeds United

Tottenham v Everton

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Monday  September 14

Brighton v Chelsea

Sheffield United v Wolves

To be rescheduled

Burnley v Manchester United

Manchester City v Aston Villa

Super Rugby play-offs

Quarter-finals

  • Hurricanes 35, ACT 16
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Semi-finals

Saturday, July 29

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Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

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Yahya Al Ghassani's bio

Date of birth: April 18, 1998

Playing position: Winger

Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE