Three points imperative for both Arsenal and Wigan

For Arsenal, failure to defeat Wigan Athletic would leave their hopes of a 16th season in the Uefa Champions League in severe jeopardy.

For Wigan Athletic, anything other than a win would quickly sour the taste of a memorable FA Cup final shock.

As end-of-season fixtures go, the clash at Emirates Stadium could hardly have more importance to the two sides involved.

Arsene Wenger, the Arsenal manager, said: "Both teams will go for it, it's a huge game for both of us."

Arsenal slipped out of the top four on Sunday as neighbours Tottenham Hotspur came from a goal down to beat Stoke City 2-1 in their penultimate match of the season.

Tottenham, who missed out on the Champions League despite a fourth-place finish last season because Chelsea won the competition, have 69 points to Arsenal's 67, and Spurs entertain Sunderland on the final day of the season.

Victory against Wigan and then at Newcastle United on Sunday would guarantee Wenger's side finish at least fourth.

"We are on a remarkable run and have been hugely consistent and our destiny is in our hands," said Wenger. "Two months ago, our destiny was not in our own hands. Today it is. So let's finish the job."

Wigan know a defeat will consign them to relegation and a draw will effectively seal the same fate, given their poor goal difference to Sunderland, the only side they can catch if they drew.

A victory would leave survival in their own hands on Sunday, knowing that if they defeat Aston Villa, they would be safe.

"I think we are fortunate in terms of results, because if you are relying on other people to do your job, that doesn't work in football," said Roberto Martinez, the Wigan manager. "We are very fortunate in that we are third from bottom, but if we win the six points we don't have to rely on anyone.

"We need six points and we don't have to look elsewhere.

"It is important that, mentally, the mindset is right and it is right because of what is happening within the town and what happened at the weekend."

Wigan would become the first team to ever win the FA Cup and be relegated in the same season, and on-loan defender Paul Scarner said the match against Arsenal is just as important as Saturday's final.

"We need to win our last two games," he said. "We need to treat this like two more FA Cup finals."

* Agencies

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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

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.”

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Three points imperative for both Arsenal and Wigan

For Arsenal, failure to defeat Wigan Athletic would leave their hopes of a 16th season in the Uefa Champions League in severe jeopardy, while a loss for the FA Cup winners would condemn them to relegation.

Groom and Two Brides

Timeline

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