Abu Dhabi Harlequins 23 Jebel Ali Dragons 14
ABU DHABI // Abu Dhabi Harlequins stayed on course for a perfect five titles this season after beating Jebel Ali Dragons to reach the West Asia Cup final.
The side from the capital achieved the win the hard way as they played for 55 minutes with only 14 men.
Chris Jones-Griffiths, the UAE prop, was shown a red card for a high tackle in the course of Dragons scoring their second try, in the 25th minute.
When Daniel Bell converted that score by Ryno Fourie, to add to the earlier effort by his namesake Gio Fourie, the away side held a 14-3 lead, as they made the most of a strong wind at their backs.
However, they failed to register a point thereafter, as Harlequins summoned admirable fight in the face of adversity.
Luke Stevenson, playing in a new position of fullback, hit back with a try before half time, as part of an 18-point personal haul.
As a heavy shower struck and lightning flashed nearby, Emosi Vecanuau powered over for a second-half try for Harlequins.
A third Stevenson penalty stretched the lead to nine points, and the home side’s spirit was epitomised by a heroic last-ditch tackle and turnover by captain Ben Bolger, which kept the Dragons at bay.
“Even with just 14 lads, they were still forcing Dragons to make mistakes, and they were just class, one to 22,” Mike McFarlane, the Harlequins coach, said of his side.
Harlequins have already won the Western Clubs Champions League, the Dubai Sevens and the West Asia Premiership so far this season. They can add two more trophies to their haul over the next two weekends.
They will face Bahrain in the West Asia Cup final on Friday, after the side who finished third in the region’s cross-border league shocked Doha in Qatar.
Bahrain won their semi-final 23-22, despite only having a week to organise their exact travel plans, after the draw for the Cup semi-finals was decided on the final weekend of the Premiership season.
They will have to do likewise again now, as they will travel to face Harlequins, who beat them at the same venue last weekend, at Zayed Sports City.
“We were looking forward to playing Doha because we have some unfinished business with them,” McFarlane said of the only side to have beaten his team this season.
“But this will be a great final with two quality sides going head to head.”
Dragons will get the chance to avenge a third loss of the season against Harlequins when the two sides meet again in the final of the UAE Premiership on April 7.
“It is frustrating because, in the first game in Jebel Ali [in November] I thought we deserved to win,” Henry Paul, the Dragons captain said.
“In the second [in February] they taught us how to play, but today I thought it was pretty even. They played the wind and conditions better than us.
“I have to tip my hat to them, and I look forward to seeing them again on Feb 7.”
Harlequins
Tries: Stevenson, Vecanuau
Cons: Stevenson 2
Pens: Stevenson 3
Dragons
Tries: G Fourie, R Fourie
Cons: Bell 2
Man of the match: Ben Bolger (Abu Dhabi Harlequins)
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How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
ROUTE TO TITLE
Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2
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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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
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Based: Dubai
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Investment stage: Seed
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Started: 2021
Founders: Khaled Al Huraimel, Matti Zinder, Amin Al Zarouni
Based: Dubai, UAE
Industry: AI, metaverse, Web3 and blockchain
Funding: Currently in pre-seed round to raise $5 million to $7 million
Investors: Privately funded
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Based: Dubai, UAE
Launch year: 2014
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Sector: FinTech and payments
Funding: nearly $30 million so far
MEDIEVIL (1998)
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