David Silva has signed a new five-year contract with Manchester City and he he has lofty goals on reaching the Uefa Champions League while playing for the English Premier League champions. AFP PHOTO / IAN KINGTON
David Silva has signed a new five-year contract with Manchester City and he he has lofty goals on reaching the Uefa Champions League while playing for the English Premier League champions. AFP PHOTO / IAN KINGTON
David Silva has signed a new five-year contract with Manchester City and he he has lofty goals on reaching the Uefa Champions League while playing for the English Premier League champions. AFP PHOTO / IAN KINGTON
David Silva has signed a new five-year contract with Manchester City and he he has lofty goals on reaching the Uefa Champions League while playing for the English Premier League champions. AFP PHOTO /

Transfer talk: Liverpool land Alberto Moreno in deal with Sevilla; David Silva has lofty goals at Man City


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Liverpool announced late on Tuesday that they have reached an agreement to sign Spanish left-back Alberto Moreno from Europa League champions Sevilla.

The 22-year-old was absent from the Sevilla squad for their 2-0 loss to Real Madrid in the UEFA Super Cup in Cardiff and Liverpool subsequently revealed that they have struck a deal to bring him to Anfield.

“Liverpool can confirm they have reached an agreement with Sevilla for the transfer of Spain international full-back Alberto Moreno,” Liverpool said in a brief statement on their website.

“The Reds will proceed with the formalities of finalising the deal for the 22-year-old over the coming days and will make no further announcement until it is complete.”

Liverpool did not confirm how much they have agreed to pay for Moreno, but British press reports put the transfer fee at around £12 million ($20.2 million, 15.1 million euros).

Speaking after his side’s loss to Madrid at the Cardiff City Stadium, Sevilla coach Unai Emery said that Moreno would leave with the club’s blessing.

“We didn’t have any clear expectation (about the transfer being completed), but it was in our minds,” he said.

“This has been in the offing for a month and a half or two. We were aware of the need to take him out of the squad.

“And we were in England and close to the teams who are interested in Alberto. Maybe decisions are speeding up because we are getting towards the end of the transfer window (on August 31).

“We want to wish all the best to Alberto Moreno and we need to continue with our path. He’s a player we can no longer count on.”

Seville-born Moreno graduated from Sevilla’s youth academy and made his first-team debut in April 2012. He has won three caps for Spain.

AC Milan

AC Milan on Wednesday announced the signing of Colombia full-back Pablo Armero on loan from Italian rivals Udinese.

Armero, who spent the second half of last season on loan at West Ham United in England, joins Milan on a new loan deal, although the Rossoneri have the option to eventually make the move permanent.

“I spoke to (new Milan coach Filippo) Inzaghi, who as a player loved to win and will want to do the same as a coach,” Armero told the Milan Channel before undergoing a medical.

The 27-year-old left-back played in all of Colombia’s games during their run to the World Cup quarter-finals last month and scored in their opening 3-0 win against Greece.

His arrival will help Milan in a position where they have seen Dutchman Urby Emanuelson and Guinea’s Kevin Constant depart this summer for Roma and Trabzonspor respectively.

He is the second new signing at the San Siro in as many days after goalkeeper Diego Lopez joined from Real Madrid on a four-year deal on Tuesday.

Milan have been busy in the transfer market this summer, with French centre-back Adil Rami, winger Jeremy Menez and Brazilian defender Alex already having been snapped up.

Everton

Everton manager Roberto Martinez expects to complete the signing of Chelsea’s Christian Atsu on Thursday.

The Ghana winger has been widely expected to sign on a season-long loan, following striker Romelu Lukaku from Stamford Bridge to Goodison Park, and Martinez revealed a deal has been agreed.

Speaking at the Premier League’s season launch event, the Spaniard told Sky Sports News: “We’re very close to announcing a new signing, I think it’s been an open secret in the last few days.

“We’re expecting Christian Atsu to join us tomorrow, the deal is done with Chelsea.

“After the season that we had, it was important that we faced Europe and all the demands this season with the strong backbone that we have, and new blood to bring something a little bit different.”

Manchester City

David Silva has set his sights firmly on Champions League glory after signing a new five-year contract with Manchester City.

The Spanish playmaker has won two Premier League titles and two domestic cups since joining City four years ago but has no doubt more trophies lie in store.

Such is his conviction that he has committed to the club until 2019 and he is determined to help them conquer Europe.

Asked what trophies he could see City winning in that period, the 28-year-old said: “The Champions League, definitely. It’s a title I really want to win. I think we are on a good path and hopefully we can win it some day.

“It’s a good challenge for this year. We also want to win other titles. We want to fight for every trophy.”

Silva joined City in a £26million transfer from Valencia in 2010.

His signing was a statement of ambition by the club - one of several - as they looked to establish themselves among the elite of the English game.

City are now much further along in their journey but the ambitions remain undimmed and Silva insists he was never tempted to leave.

He said: “On and off the pitch, I feel incredibly content and fulfilled professionally and personally, so why wouldn’t I want to stay and keep winning trophies with this fantastic team?

“Over the last four years, we have achieved so much together, establishing City as a dominating force in England and now, when I look around this dressing room, I can see no reason why we won’t become one of the top teams in the world.

“It was a straightforward decision to extend my stay here and spend my peak years at Manchester City, a club with unbelievable fans who have always supported me.”

Marseille

French-born Moroccan international midfielder Abdelaziz Barrada on Wednesday finalised his transfer to Ligue 1 club Marseille from Al Jazira in the United Arab Emirates.

Marseille confirmed that Barrada had turned down a move to Portuguese giants Porto in favour of signing a four-year deal at the Stade Velodrome.

“I see my long-term future at the club. I want to help OM to finish on the podium. That is where this club deserves to be,” said Barrada, who started out at Paris Saint-Germain before making his name in Spain with Getafe.

Barrada, 25, scored 15 goals in 34 appearances for Al Jazira last season. He joins as Brazilian defender Lucas Mendes moves to the Gulf, signing for El Jaish in Qatar.

Barrada is Marseille’s third signing of the transfer window after the arrival of winger Romain Alessandrini from Rennes and young Belgian striker Michy Batshuayi from Standard Liege.

Tottenham

FIFA has received a complaint from Michel Vorm’s former club FC Utrecht in relation to the Dutch goalkeeper’s transfer to Tottenham from Swansea.

Vorm moved from the Liberty Stadium to White Hart Lane last month for an undisclosed fee, with Utrecht claiming they have not received 30 per cent of Vorm’s transfer fee, which they allege was part of a sell-on agreement between them and the Swans when he moved to Wales for £1.5million in 2011.

A FIFA spokesperson said: “We can confirm that we’ve received a complaint from the club FC Utrecht against the club Swansea City in connection with the transfer of the player Michel Vorm.

“At this stage we cannot make any further comment.”

Swansea last week issued a statement to say the transfer was “conducted and concluded correctly under Premier League rules”.

A Swansea spokesman said: “It was approved by the Premier League and also FIFA via their TMS (Transfer Matching) system.

“While we have been in contact with Utrecht as a matter of courtesy, we will continue to conduct our business in the best interest of our football club and our supporters, and not based on the views of other clubs.”

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Griselda
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Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez

SPECS
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PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Kamindu Mendis bio

Full name: Pasqual Handi Kamindu Dilanka Mendis

Born: September 30, 1998

Age: 20 years and 26 days

Nationality: Sri Lankan

Major teams Sri Lanka's Under 19 team

Batting style: Left-hander

Bowling style: Right-arm off-spin and slow left-arm orthodox (that's right!)

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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While you're here
Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

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Famous left-handers

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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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