Erik ten Hag has called on Manchester United to "stick together" after Wednesday's defeat to Newcastle United in the League Cup fourth round added another disappointment to a difficult season.
United, who beat Newcastle in last season's League Cup final, saw their title defence end in a 3-0 defeat at Old Trafford, with Miguel Almiron, Lewis Hall, and Joe Willock on target for the visitors.
It was the second time in three days United have lost 3-0 at home, having been beaten by the same score by local rivals Manchester City in the Premier League.
United have now lost eight of their last 15 games in all competitions, and five of their first 10 at home for the first time since 1930/31.
They have also lost five of their first 10 Premier League games for the first time, while their hopes of advancing to the Champions League knockout stages hang by a thread after two losses in their first three group games.
"It is not good enough. We know that," United manager Ten Hag said. "We were in the game and in a couple of minutes, we gave the game away. That's below our standards and we know that. We have to take responsibility for this."
Ten Hag said it was vital for his players to regain their confidence as United attempt to rediscover the form that saw them finish third in the Premier League last season, as well as reach both cup finals.
"You only get your confidence when you take responsibility and you fight and you are winning and dictating the crowd," he said. "When you do that, you get results and from there you build your own confidence. Confidence is something that is in your own hands and that is individual but of course, you have to do it as a team. You have to stick together."
Considering the impressive progress United made in Ten Hag's first season, it would have seemed inconceivable that the Dutchman would be under pressure just months into his second campaign, but such has been United's poor form, the manager finds himself under increasing scrutiny.
However, Ten Hag insisted he is the man to reverse the club's fortunes.
Man United v Newcastle player ratings
"I understand that when the results are not there, it is a logical process to question [the manager]. But I am confident I can do it," he said. "With all my clubs I have done it and also last year I did it here as well. In this moment, we are in a bad place. I take responsibility for it. I see it as a challenge."
While United are left to pick up the pieces of their latest setback, Newcastle moved on to the quarter-finals and a clash with Chelsea.
"I think the spirit of the group just showed in the performance, the togetherness, the unity," Newcastle manager Eddie Howe said.
"This is a really tough place to come and to score the goals we did at the times we did and just the manner of the performance really pleased me."
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
THE SPECS
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PROFILE OF STARZPLAY
Date started: 2014
Founders: Maaz Sheikh, Danny Bates
Based: Dubai, UAE
Sector: Entertainment/Streaming Video On Demand
Number of employees: 125
Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners
Turkish Ladies
Various artists, Sony Music Turkey
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
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Brief scores:
Manchester City 3
Aguero 1', 44', 61'
Arsenal 1
Koscielny 11'
Man of the match: Sergio Aguero (Manchester City)
RESULT
Chelsea 2
Willian 13'
Ross Barkley 64'
Liverpool 0
Killing of Qassem Suleimani
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 CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000