Tough assignment for City



If Roberto Mancini was not already aware of just how hard it is to achieve sustained success in the Premier League, then Saturday's 2-1 defeat away to struggling Hull City will have made it abundantly clear. The Manchester City manager's cool persona was replaced by fire and brimstone as his side suffered their second league defeat since he replaced Mark Hughes at the end of December.

This is a period of the season where matches will only get tougher and the aspirations of teams at the top and bottom of the table will be realised. With two games in hand on Liverpool - who currently occupy fourth spot - and three points to make up, a Champions League place is still within City's grasp. But Mancini knows they cannot afford any more slip-ups, especially on their travels. Last season they won just twice away from home, something the Italian is keen to address. "We want to change this mentality. But at Wolves, the game was like Hull and we played hard and we won," said Mancini. "This month is a crucial moment. We have games against Bolton, Stoke, Liverpool, Chelsea and then Tottenham.

"We have a good chance to finish in the top four, but if we want to arrive at our target, we must win away." There will be home comfort tonight as Bolton head to Eastlands, but Owen Coyle's side will be prepared to take the fight to City just like Hull. They are only a point clear of the relegation places and the City midfielder Nigel de Jong said his teammates must adopt the same mentality as teams struggling at the wrong end.

"We are a scalp for teams now and we didn't contend with that well enough at Hull," said the Dutch international. "We always try to play football, but sometimes you have to win the battle first. "We know teams at the bottom are going to fight for everything and we have to do the same." Patrick Vieira could provide that as he prepares for a home debut. The Frenchman came off the bench for his first appearance since his move from Inter Milan last month.

A calf injury has hampered him, but Mancini said: "Vieira's an important player and has a good mentality. "On Saturday when he came on the pitch, he changed the situation for us. I think all the players can improve and Patrick can help them." With Craig Bellamy's knee problem causing concern, Adam Johnson should start on the left wing and Joleon Lescott and Roque Santa Cruz are available after returning from injuries.

Their height and presence could be useful against the set-piece threat posed by the Bolton striker Kevin Davies. Physical and fearless, he will cause problems for a City defence that could not cope with the Hull pairing of Jan Vennegoor of Hesselink and Jozy Altidore, who are of similar ilk to Davies. But, significantly, Bolton will be without Gary Cahill at the back. The defender has been influential this term, but a blood clot on his arm could end the defender's season - and hopes of making England's World Cup squad.

His manager Coyle said: "As disappointed as we are, at 24, Gary has a marvellous career ahead of him. "I believe he would have made the World Cup for the summer, but we have to make sure first of all he recovers from this blood clot. "He will have other opportunities, England being the power they are, and play in major championships. "I believe he can play for anybody in the Premier League. He has pace and power, everything you want in a defender."

@Email:akhan@thenational.ae Man City v Bolton, Midnight, Showports 1 & 2

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

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.”

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
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
UAE currency: the story behind the money in your pockets
Sheer grandeur

The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.

A clear distinction between the residences and the Raffles hotel with the amenities operated separately.

Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5