Sport

Round-up: Chelsea score modest 2-0 win over Stoke

Blues win as Lampard needs hernia surgery, Wigan shock Spurs and Blackpool stop losing streak with respectable draw.

Chelsea could not quite match its previous goalscoring feats but still cantered to a 2-0 victory against Stoke in the Premier League on Saturday. Carlo Ancelotti's defending champions made sure they will be top of the Premier League heading into the international break after maintaining their 100 percent record for the season. Chelsea has scored 31 goals in its last six league games stretching back into last season, and conceded none. Having handed West Brom and Wigan 6-0 thrashings in its first two games of the season, Chelsea looked on course for another handsome win when Ryan Shawcross fouled Didier Drogba to concede a penalty. However, Stoke 'keeper Thomas Sorensen easily saved Frank Lampard's weak spot-kick and the hosts had to wait until the 32nd to take the lead, Florent Malouda latching onto John Terry's pass and slotting in his fourth goal of the season. Stoke, unlike Wigan and West Brom, refused to cave in and might even have scored an unlikely equaliser when Glenn Whelan hammered a 25-yard shot onto the bar. The visitors' resistance was finally broken in the 77th minute when Drogba scored from the spot after Sorensen had brought down Nicolas Anelka. Lampard, Chelsea's regular penalty taker, had been substituted by that time, and it emerged after the game that the England midfielder requires hernia surgery. He will miss England's Euro 2012 qualifiers against Bulgaria and Switzerland, Chelsea manager Carlo Ancelotti said. "He will need surgery this week, Tuesday or Wednesday. He will not be able to play for England. We have told England," the Italian told reporters. "In one or two weeks he will be back. It's very easy surgery. He needs to do it because he was starting to feel pain."

Hugo Rodallega scored late in Wigan's 1-0 win at Tottenham in a setback to Spurs' bid to finish in the top four of the Premier League for a second consecutive season. Two days after being drawn to meet defending Champions League winner Inter Milan in Europe, Spurs lost to a team that had been beaten 4-0 by promoted Blackpool and 6-0 to Chelsea in its opening two home games. Rodallega hit the winner when Spurs goalkeeper Carlo Cudicini, making his first start since being involved in a serious motorcycle accident last season, let the ball squirm past him in the 80th minute. Last season, Tottenham had thrashed Wigan 9-1 at White Hart Lane.

Blackpool had to settle for a 2-2 draw with Fulham in its first home game in the English topflight since 1971 after Dickson Etuhu struck a superb late equaliser for the London side. Bobby Zamora had put Fulham in front in the 35th minute, only for an own goal by John Pantsil to bring the teams level in the 71st. Luke Varney, making his debut a day after signing a season-long loan deal from Derby, then looked to have capped a rousing fightback in Blackpool's first Premier League game at a revamped Bloomfield Road with a 76th minute strike. But the hopes of victory celebrations were dashed when Etuhu sent a delicate lob over keeper Matthew Gilks after being released by Belgian striker Moussa Dembele with three minutes left on the clock.

Andy Carroll scored his fourth goal in two games to rescue a point for Newcastle in a feisty game at Wolverhampton Wanderers. Referee Stuart Attwell handed out 11 yellow cards as the tackles flew in at Molineux. Newcastle, fresh from a 6-0 thrashing of Aston Villa last weekend, made the better start and Kevin Nolan miscued a shot in the 18th minute when he probably should have put the Magpies in front. Carroll was guilty of a worse miss in the 42nd, scooping the ball over the bar from eight yards after being set up Nolan. Just a minute later, the visitors were made to pay for their wastefulness when Sylvan Ebanks-Blake, who earlier headed a good chance against the post, controlled the ball brilliantly with his chest and fired in low past Steve Harper for his second goal in as many games. But Carroll, who scored a hat trick against Aston Villa, powered in a header from Joey Barton's free kick in the 62nd to make it 1-1. Newcastle manager Chris Hughton praised the composure shown by midfielder Joey Barton who appeared to be singled out by Karl Henry, the Wolves captain, for some robust tackles. He said: "Did Barton do well to keep his cool? Yes. It was a competitive game, which is one you expect when you come here. These are a good honest team and it was a real tough game for us."

School uniforms report

Rashid & Rajab

Director: Mohammed Saeed Harib

Stars: Shadi Alfons,  Marwan Abdullah, Doaa Mostafa Ragab 

Two stars out of five 

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.”

The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

More from Mohammed Alardhi
Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

The specs

Engine: 4-litre twin-turbo V8

Transmission: eight-speed PDK

Power: 630bhp

Torque: 820Nm

Price: Dh683,200

On sale: now

Student Of The Year 2

Director: Punit Malhotra

Stars: Tiger Shroff, Tara Sutaria, Ananya Pandey, Aditya Seal 

1.5 stars

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Zayed Sustainability Prize

Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5

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On Women's Day
Killing of Qassem Suleimani
How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

Points classification after Stage 4

1. Arnaud Demare (France / FDJ) 124

2. Marcel Kittel (Germany / Quick-Step) 81

3. Michael Matthews (Australia / Sunweb) 66

4. Andre Greipel (Germany / Lotto) 63

5. Alexander Kristoff (Norway / Katusha) 43

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On Women's Day
While you're here
UAE currency: the story behind the money in your pockets
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