Nancy have confirmed they have agreed a deal with Newcastle for defender Massadio Haidara.
The 20-year-old full back, who has made 17 appearances in Ligue 1 this season, is to travel to England for a medical with the English Premier League side.
"After 46 games and two-and-a-half years in the Nancy shirt, Massadio Haidara is leaving his former club for Newcastle United, currently sixteenth in the Premier League," a statement on the club's website read.
"The two clubs have reached an agreement and will finalise the transfer on Tuesday."
Meanwhile the St James Park side are also set to land Mapou Yanga-Mbiwa from Montpellier.
The defender is set to undergo a medical ahead of a £7m (Dh41.1m) move to England.
"This (England) is a country where everybody loves football and I really want to experience this culture," he told Montpellier's website. "It is one of the things you want to discover as a player.
"I feel I have given everything to the maximum while at Montpellier. They have been like my second family and have given me everything. There were hard times and good times but there is a very strong bond that unites us."
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Ashley Cole has signed a one-year extension to his contract with Chelsea.
The England left-back's had been due to expire this summer, putting his future with the club in doubt with a number of top-flight sides linked with a move for the player.
But the the 32-year-old has now extended his deal by another year.
"I wanted to stay at Chelsea because we are always fighting and challenging for trophies," he said."That desire and the will to want to win things have not gone."
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Arsene Wenger insists he was never interested in signing Crystal Palace forward Wilfried Zaha.
Manchester United admit they are pursuing the 20-year-old, with some reports suggesting that the Premier League leaders are close to agreeing a £15million deal for the England international.
Arsenal were also reported to be interested in Zaha, but the Gunners boss today insisted that was never the case.
"We were never in for Zaha," Wenger told a press conference. "I don't know if he will go to Man United. If he goes to Man United, good luck to him."
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Relegation-threatened Hoffenheim have signed David Abraham from Getafe as they seek to reverse their worst ever first half to a Bundesliga season.
The 26-year-old Argentine defender won three Swiss league titles and two Swiss Cups with FC Basel before joining the Spanish team last year.
"David has a lot of experience at the top level for his age and that is very important for us at the moment," coach Marco Kurz said.
"He is quick and good in one-on-one situations. I am happy that we could convince him to join us."
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Liverpool defender Jamie Carragher admits he is open-minded about his future at the club as the clock ticks down on his current contract.
The veteran centre-back turns 35 next Monday and his existing deal only runs until June.
He made only his second Premier League start of the season in Saturday’s 5-0 win over Norwich as manager Brendan Rodgers dropped Martin Skrtel, although he has played regularly in Europe.
Asked whether he could play on beyond this season the former England international said: “That’s up to the manager and the club will make decisions like that.
“I will just chat to the manager. I am open-minded and I am sure the club are as well.
“The most important thing is about the club getting results, not what I am going to do.
“That is something we can sort out one way or another.”
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The Seattle Sounders have completed an agreement to loan forward Fredy Montero to Colombia's Millonarios for the 2013 season, after the 25-year-old signed a contract extension with the MLS side.
Montero has been with Seattle since it started play in 2009 and leads the Sounders with 60 goals and 43 assists in 160 games.
"Fredy has been a fantastic player and pro," Sounders owner Adrian Hanauer said in a statement. "We hope this move helps Fredy's chances of being called up to the Colombian national team."
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Wesley Sneijder has completed his move to Galatasaray from Inter Milan.
The Holland international completed his medical with the Turkish giants earlier today before signing his contract at a ceremony at the club's Turk Telekom Arena.
The 28-year-old, whose transfer fee from Inter is believed to be in the region of 10 million euros (Dh48.8m), has penned a reported three-and-a-half-year deal with the Super Lig leaders.
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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.”
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
