BANGKOK, THAILAND // Edgardo Bauza was asked the question, and he gave what appeared to be an honest answer.
“I’ve had 12 days to prepare, when I wanted to spend one month,” the Argentine said at Bangkok’s Rajamangala Stadium on Monday, the eve of his first competitive fixture in charge of the UAE national team.
Twelve days since he first began training with a full squad, with Omar Abdulrahman, Ahmed Khalil and all. Twelve days with the UAE’s best 20-something players, give or take, as they prepare for Tuesday’s must-win World Cup qualifier against Thailand.
No, he has not had enough time to prepare, but he was eager to stress that he was not complaining either. “We are ready,” Bauza repeated. Quite rightly, he would have wanted a month, or in an ideal world more, yet it has been a pretty whirlwind four-and-a-half weeks anyway.
Appointed on May 11, Bauza initially travelled home to Argentina to tie up loose ends, then came back to the UAE, where he took in the President’s Cup final and began an introductory training camp with only a few of his players. The numbers grew steadily and, by May 31, he was off with the squad to Malaysia before finally reaching Thailand last Thursday.
Nevertheless, the hard work has been put in, Bauza emphasised, “every minute, every hour”. Ultimately, he hopes the incessant endeavour leads to Russia next summer.
And there is the rub: Bauza has not been given much time, and the odds seem stacked against him, but World Cup 2018 represents the immediate objective. Three matches to overturn a seven-point deficit and claw back significant ground lost on Australia, Saudi Arabia and Japan – the three teams locked on 16 points above them in Group B.
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McAuley in Bangkok
■ Bauza: UAE are ready for Thailand
■ Rajevac: Thailand hope for surprise
■ Diary: Tepid interest in bustling Bangkok
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Yes, Bauza’s bow has come round incredibly quickly. But, as he suggested, there has been much crammed into those 12 days. Encouragingly, the early feedback have been positive. From both sides.
Bauza is pleased with the players, and they appear impressed with him, too. The language barrier has not been an issue, Abdulrahman confirmed on Sunday, as Bauza converses with the team through Moroccan coach Tarek bin Jaiadeh.
Perhaps the limited time has prompted it, for Bauza is an extremely vocal presence on the training pitch, constantly stopping play, continuously imparting advice to his players. It has been well received, like when defender Mohanad Salem praised the manager for being a “hard-working coach who is focused on teamwork. Everything is under control”.
That extends off the pitch also, where team supervisor Abdullah Saleh has been entrusted by Bauza to keeps spirits high, to repair the psychological damage done by those chastening defeats to Japan and Australia in March. The new management has brought a new voice and a fresh set of eyes. Evidently, it was needed.
The first test of that is Thailand, of course, the initial examination of what Bauza brings to the table, of how he is different to Mahdi Ali. Rather fortunately, he has been afforded a heavily depleted Thailand, bottom of Group B and already out of the running, with their own new manager, Milovan Rajevac.
Maybe it has all worked out as well as it might. Twelve days has not been perfect, but the early signs are that, to answer the reporter’s question to Bauza on Monday, it will actually be enough.
jmcauley@thenational.ae
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MATCH INFO
Rugby World Cup (all times UAE)
Final: England v South Africa, Saturday, 1pm
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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.”
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
THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk
The Lowdown
Us
Director: Jordan Peele
Starring: Lupita Nyong'o, Winston Duke, Shahadi Wright Joseqph, Evan Alex and Elisabeth Moss
Rating: 4/5
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception