Saudi scare for Ibrahim


Amith Passela
  • English
  • Arabic

MUSCAT // Nasser al Johar did it again - he skipped another press conference. And what's more, there was no sign of Hassan al Rahib or Nayef Hazaazi either. Al Johar, Saudi Arabia's incorrigible coach who keeps giving the media the slip, had promised to unveil two "exciting, young strikers" ahead of their semi-final clash against Kuwait at the Sultan Qaboos Sports Complex. But that did not happen.

His Brazilian assistant Luis Innara, said: "We still have a training session before the Kuwait match. And with all the players in the squad available, the line-up won't be decided until then." True. And with the form the Saudis are in, it would be hard to imagine a winning combination without their captain Yasser al Qahtani and Malik Moad - so dangerous in attack and both with two goals each from the three games.

"We are heading for another strong match and we do not consider Kuwait any weaker than the rest of the teams in the competition," Innara said. "Everyone's started to pick Saudi Arabia as the favourites, but I believe in the old adage you don't count your chicken before they hatch." But the Saudis have been impressive so far - even in their goalless draw against Qatar - before they went on a rampage in the next two games, drubbing Yemen 6-0 and tearing the UAE apart 3-0. So it comes has no surprise when the Kuwait coach Mohammed Ibrahim says they were up against a better team.

"It would take a very good performance and plenty of good fortune to beat this Saudi side," Ibrahim said. "But I am hopeful of an upset. "We never expected to come this far and who knows. My players can raise the bar on the night and the Saudis can have a poor game." Ibrahim did not rule out the possibility of the game veering towards penalities. "That is one of our options but a hard one because they have scored with their forwards, midfielders and the defenders," he said.

But he has reasons to believe his team can win, however hard it may be. "We have played to our strengths and have been quite successful," Ibrahim said. "The UAE, Oman, Bahrain and Iraq are by no means weak and we have conceded just one goal in the last game with Iraq. It has been a pretty decent run." The former Kuwait international has no injury problems in his squad and hopes to have his best line-up for the game.

He also feels it is an achievement for two homegrown coaches to come this far with one sure to make it to the final. "With all due respect to the Saudis, I hope it's Kuwait," he said. @Email:apassela@thenational.ae

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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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.”

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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.

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The stats

Ship name: MSC Bellissima

Ship class: Meraviglia Class

Delivery date: February 27, 2019

Gross tonnage: 171,598 GT

Passenger capacity: 5,686

Crew members: 1,536

Number of cabins: 2,217

Length: 315.3 metres

Maximum speed: 22.7 knots (42kph)

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