Serey Die fights back tears during the national anthem of Ivory Coast prior to their game against Colombia on Thursday at the 2014 World Cup. Ueslei Marcelino / Reuters / June 19, 2014
Serey Die fights back tears during the national anthem of Ivory Coast prior to their game against Colombia on Thursday at the 2014 World Cup. Ueslei Marcelino / Reuters / June 19, 2014

Serey Die’s tears explained, Suarez’s brilliance and super-sized seats



Ivory Coast
Sobbing uncontrollably throughout his national anthem on Thursday night, Ivory Coast midfielder Serey Die provided one of the evocative images of the World Cup, though few understood the back story regarding his torrent of tears. Die never thought he would play for his country, never mind on world football's biggest stage, and it overwhelmed him. "My life has always been difficult," Die said. "It's true, I thought about my father, who died in 2004. I also thought about my tough life – I didn't think that one day, I would be here, playing. I fought [the tears], but I couldn't." Teammate Kolo Toure said: "He really loves his country – we don't see that in football."
Fifa
A total of 4,676 super-sized seats at the 12 World Cup stadiums have been reserved for obese people. The seats can accommodate a spectator weighing up to 250 kilograms and are twice the size of normal seats. The seats are for fans whose body-mass index is above 30, Fifa said. An index greater than 25 is considered overweight, while above 30 is considered obese. "They were put in place in accordance with Brazilian building regulations and also in line with efforts by Fifa to combat all forms of discrimination and make football accessible to all," a Fifa spokesman said.
Uruguay
Diego Lugano might be the captain of the Uruguay team, but if there was any doubt about who drives the team bus, it was answered in a 2-1 win over England, when Liverpool star Luis Suarez scored two goals in his first game since undergoing knee surgery a month ago. "Our team really revolves around him," Lugano told Fifa's website. "We'd love to have 10 players of his ability ... But we've got a few guys who can make a difference, like he does with his brilliance, and the rest of us are all grafters."
Iran
When Iran qualified for the World Cup last year, there was dancing in the streets, with millions gathering to celebrate a rare sporting achievement. It was a rare sight in the Islamic republic to see both sexes mixing so freely. Indeed, police elected to stand by and let the fun flow for a few hours. However, now that Iran is competing in Brazil, authorities in Tehran do not want a similarly spontaneous reaction. The message is simple: stay home to watch the games. Restaurants and other businesses have been warned not to show matches publicly.
Brazil
An exhibition of football jerseys that includes a Nazi-era shirt and one from Mussolini's fascist regime is raising eyebrows among visitors to a busy shopping mall in Salvador. The exhibition includes more than 100 replicas and originals from different nations, dating back to the first World Cup in 1930.
When visitor Rolf Zettel saw a football shirt with a Nazi swastika on it, he said, "Is this a joke or what? Germany, 1934, a despicable time." The owner of the collection said the display was sanctioned by the Brazilian World Cup organising committee.
Colombia
Dutch actress Nicolette van Dam resigned as a Unicef global ambassador on Thursday, a move prompted by her tweet of a doctored photo appearing to depict Colombian players Radamel Falcao and James Rodriguez snorting cocaine. One of the world's largest charities, Unicef offered its "most sincere apologies" to the Colombian footballers for "the shameful and offensive post" from Van Dam.
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Dust and sand storms compared

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Dust storm

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UAE currency: the story behind the money in your pockets
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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.”