Jese Rodriguez on the ground after getting injured against Schalke on Tuesday night. Kiko Huesca / EPA / March 19, 2014
Jese Rodriguez on the ground after getting injured against Schalke on Tuesday night. Kiko Huesca / EPA / March 19, 2014
Jese Rodriguez on the ground after getting injured against Schalke on Tuesday night. Kiko Huesca / EPA / March 19, 2014
Jese Rodriguez on the ground after getting injured against Schalke on Tuesday night. Kiko Huesca / EPA / March 19, 2014

Ronaldo scores twice, but Real lose Jese in polishing off Schalke


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Cristiano Ronaldo scored twice as Real Madrid cruised into the quarter-finals of the Champions League with a 9-2 aggregate victory over Schalke thanks to a 3-1 win at the Santiago Bernabeu on Tuesday.

Ronaldo put Real ahead on the night when he swept home Gareth Bale’s low cross on 21 minutes, but Tim Hoogland’s deflected effort brought the visitors level before half-time.

It took until 16 minutes from time for Ronaldo to put Madrid back in front as he collected a loose ball from Bale and stormed forward to drill low into the net for his 13th Champions League goal of the season.

Bale was the creator once more for his side’s third moments later when he squared for Alvaro Morata to fire home after Ronaldo had struck the bar.

However, victory came at a cost for Madrid as promising forward Jese Rodriguez suffered cruciate ligament injury in his right knee early on in the game.

“I think it is confirmed he has ruptured cruciate ligament,” said Real boss Carlo Ancelotti.

“He has had bad luck and it is bad luck for Real Madrid because we are going to lose a very important, young player who has done very well this season and surprised everyone.”

Schalke boss Jens Keller lamented a few individual mistakes that cost his side, but was proud of how his inexperienced reacted to their 6-1 thrashing in the first leg and had particularly praise for goalkeeper Ralf Fahrmann.

“Real Madrid have the quality to turn a chance into a goal in a second. The tough thing is that due to two specific mistakes they scored two goals,” he said.

“I think the team reacted well and even the 19-year-old players we had out today performed well, whilst Farmann proved again that he can be a world class goalkeeper.

“I am a bit sad at the result, but I am pleased with the performance.”

Ancelotti had named a weakened side with one eye on Sunday’s crucial La Liga clash against Barcelona.

However, the Italian was forced to introduce Bale inside the first 10 minutes when Jese had to be stretchered off after appearing to suffer a serious knee injury as he challenged for the ball with Sead Kolasinac on the right.

Bale replaced the Spanish under-21 international and injected plenty of pace into Madrid’s play for the rest of the half.

The Welshman teed up Ronaldo for the opener as he received Morata’s pass and squared for the Portuguese to tap into an empty net.

Morata should have doubled his side’s advantage six minutes later after a wonderful run and cross by Bale, but he skewed horribly wide with just Fahrmann to beat.

Against the run of play, Schalke were back on level terms just after the half hour mark when Hoogland wandered forward from right-back and saw his shot deflect off Sergio Ramos and past the flat-footed Iker Casillas.

Fahrmann then made a hat-trick of saves to keep his side from going in behind at the break as he denied Isco, Morata and Nacho.

And the Bundesliga side could even have been in front at the break as former Real striker Klaas-Jan Huntelaar slotted the ball inches past the far post from Max Meyer’s through ball.

Fahrmann was a busy man in the second period too as he made a fantastic save to turn a Ronaldo header over before denying Isco from close range.

Ronaldo did finally put the hosts back in front as he drove at the Schalke defence before firing low past the helpless Fahrmann.

And Morata got the confidence boast he needed two minutes later when Bale unselfishly squared after Ronaldo had struck the bar.

Ronaldo came within inches of his hat-trick and equalling Lionel Messi’s record of 14 Champions League goals in a season again seven minutes from time, but he had to settle for just a double on the night as his low left-footed effort came back off the post and rebounded to safety.

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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.”

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Directed by: Craig Gillespie

Starring: Emma Stone, Emma Thompson, Joel Fry

4/5

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Biography

Favourite drink: Must have karak chai and Chinese tea every day

Favourite non-Chinese food: Arabic sweets and Indian puri, small round bread of wheat flour

Favourite Chinese dish: Spicy boiled fish or anything cooked by her mother because of its flavour

Best vacation: Returning home to China

Music interests: Enjoys playing the zheng, a string musical instrument

Enjoys reading: Chinese novels, romantic comedies, reading up on business trends, government policy changes

Favourite book: Chairman Mao Zedong’s poems

LA LIGA FIXTURES

Friday

Granada v Real Betis (9.30pm)

Valencia v Levante (midnight)

Saturday

Espanyol v Alaves (4pm)

Celta Vigo v Villarreal (7pm)

Leganes v Real Valladolid (9.30pm)

Mallorca v Barcelona (midnight)

Sunday

Atletic Bilbao v Atletico Madrid (4pm)

Real Madrid v Eibar (9.30pm)

Real Sociedad v Osasuna (midnight)

RESULTS

5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
Winner: M'A Yaromoon, Jesus Rosales (jockey), Khalifa Al Neydai (trainer)

5.30pm: Khor Al Baghal – Conditions (PA) Dh80,000 (T) 1,600m
Winner: No Riesgo Al Maury, Antonio Fresu, Ibrahim Al Hadhrami

6pm: Khor Faridah – Handicap (PA) Dh80,000 (T) 1,600m
Winner: JAP Almahfuz, Royston Ffrench, Irfan Ellahi

6.30pm: Abu Dhabi Fillies Classic – Prestige (PA) Dh110,000 (T) 1,400m
Winner: Mahmouda, Pat Cosgrave, Abdallah Al Hammadi

7pm: Abu Dhabi Colts Classic – Prestige (PA) Dh110,000 (T) 1,400m
Winner: AS Jezan, George Buckell, Ahmed Al Mehairbi

7.30pm: Khor Laffam – Handicap (TB) Dh80,000 (T) 2,200m
Winner: Dolman, Antonio Fresu, Bhupath Seemar

EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
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Brief scoreline:

Liverpool 2

Mane 51', Salah 53'

Chelsea 0

Man of the Match: Mohamed Salah (Liverpool)

The specs

Engine: 3.8-litre V6

Power: 295hp at 6,000rpm

Torque: 355Nm at 5,200rpm

Transmission: 8-speed auto

Fuel consumption: 10.7L/100km

Price: Dh179,999-plus

On sale: now 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE