LISBON // Atletico, it turned out, could climb the impossible mountain only once. Clinching the league title last week was an extraordinary achievement, but going one step further – with two of their key players injured – proved beyond them. Yet they came mighty close, leading 1-0 under injury-time when Sergio Ramos headed an equaliser.
That broke them. Exhausted, cramp striking a number of players, Atletico could only play for penalties.
They were 10 minutes from achieving it when Angel Di Maria, probably Real’s best player on the night, cut in from the left and struck a shot that looped off Thibaut Courtois.
Gareth Bale, having missed three great chances, nodded in. A drive from Marcelo and a Cristiano Ronaldo penalty gave the 4-1 scoreline a distinctly flattering aspect – and sealed for Real Madrid their 10th European Cup. It also brought Carlo Ancelotti a third Uefa Champions League as a manager – bringing him level with Bob Paisley's record.
Richard Jolly on Real’s lengthy wait for their 10th crown
The magic of the horse placenta soon wore off. Although Diego Costa was deemed fit enough to start after he suffered a Grade 1 tear of his hamstring last Saturday, he was substituted after nine minutes and replaced by Adrian Lopez.
With Arda Turan, the other injury victim of the draw against Barcelona that won Atletico the title not even on the bench, that left Atletico's resources, already sparse when compared to their city rivals, looking even more meagre.
Yet, while Turan and Costa have been two of Atletico’s best and most consistent players this season, the strength of Simeone’s team has been the spirit of the unit, something that seemed reflected even in the attitude of their fans.
Around the statue of the Marquis de Pombal in the centre of Lisbon, red and white shirts were far more numerous than white, and the sense was that, 40 years after their last final, they had made the six-hour journey west – in a convoy that, it is said, totalled 600 buses and 15,000 cars packed with as many as 90,000 fans of both teams – in a spirit of excitement, grateful simply to be there.
To say Real’s fans came in expectation of success would be stretching it, but it is certainly true that the pressure of winning la decima, the 10th title they had – as Iker Casillas admitted – assumed when they won their ninth title in 2002 would be theirs almost by rights.
Then they had won the Champions League three times in five years and, given their wealth, given the stars in their squad, the prospect of waiting 12 years for their next final was inconceivable.
Casillas, a few days before his 21st birthday, had come off the bench in the second half of that game to replace the injured Cesar, and had given a performance of such maturity that by the next season he was an automatic first choice.
Now just turned 33, it was Casillas's error that handed Atletico the lead nine minutes before half time. The game had been scrappy and shapeless – as Atletico, no doubt, wanted it. They closed and hassled and harried and disrupted Real and then took advantage when Casillas, miscalculating dreadfully, left his line to attempt to claim Juanfran's dink over the defensive line after a corner had been half-cleared, Diego Godin got to the dropping ball first and nodded the ball goalwards. Casillas made a desperate attempt to get back, but couldn't hook it clear.
Atletico sat back and absorbed pressure, and absorbed some more. Real came again and again, and again and again, Atletico repelled them.
Forty years ago, they had led Bayern 1-0 in the final minute when George Schwarzenbeck, a centre-back with no great record of goalscoring, strode forward and belted in an equaliser in the final minute of extra time. This time it was another central defender, Sergio Ramos, who headed in a right-wing corner in injury-time in normal time. And this time, instead of a replay, it was in extra time that their hearts were broken.
sports@thenational.ae
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The specs: 2019 GMC Yukon Denali
Price, base: Dh306,500
Engine: 6.2-litre V8
Transmission: 10-speed automatic
Power: 420hp @ 5,600rpm
Torque: 621Nm @ 4,100rpm
Fuel economy, combined: 12.9L / 100km
MATCH INFO
CAF Champions League semi-finals first-leg fixtures
Tuesday:
Primeiro Agosto (ANG) v Esperance (TUN) (8pm UAE)
Al Ahly (EGY) v Entente Setif (ALG) (11PM)
Second legs:
October 23
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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.”
Kandahar%20
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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh132,000 (Countryman)
The specs
Engine: 2.4-litre 4-cylinder
Transmission: CVT auto
Power: 181bhp
Torque: 244Nm
Price: Dh122,900
ULTRA PROCESSED FOODS
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
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The British in India: Three Centuries of Ambition and Experience
by David Gilmour
Allen Lane
Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
RESULT
Huddersfield Town 1 Manchester City 2
Huddersfield: Otamendi (45' 1 og), van La Parra (red card 90' 6)
Man City: Agüero (47' pen), Sterling (84')
Man of the match: Christopher Schindler (Huddersfield Town)
Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar
Haircare resolutions 2021
From Beirut and Amman to London and now Dubai, hairstylist George Massoud has seen the same mistakes made by customers all over the world. In the chair or at-home hair care, here are the resolutions he wishes his customers would make for the year ahead.
1. 'I will seek consultation from professionals'
You may know what you want, but are you sure it’s going to suit you? Haircare professionals can tell you what will work best with your skin tone, hair texture and lifestyle.
2. 'I will tell my hairdresser when I’m not happy'
Massoud says it’s better to offer constructive criticism to work on in the future. Your hairdresser will learn, and you may discover how to communicate exactly what you want more effectively the next time.
3. ‘I will treat my hair better out of the chair’
Damage control is a big part of most hairstylists’ work right now, but it can be avoided. Steer clear of over-colouring at home, try and pursue one hair brand at a time and never, ever use a straightener on still drying hair, pleads Massoud.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
How Sputnik V works