James walks into the interview room to answer questions
James walks into the interview room to answer questions

Unexpected result follows LeBron James after The Decision



LeBron James understands that people hated The Decision, mocked his welcoming party and delighted in his failure in the NBA finals.

He doesn't care. Those aren't the people he aims to please.

"Absolutely not, because at the end of the day, all the people that were rooting on me to fail, they have to wake up tomorrow and have the same life that they had before they woke up today," James said.

"They have the same personal problems they had today. I'm going to continue to live the way I want to live and continue to do the things that I want to do with me and my family and be happy with that.

"They can get a few days or a few months ... on being happy about not only myself, but the Miami Heat not accomplishing their goal. But they have to get back to the real world at some point."

James left Cleveland for Miami this season to win titles, so he would have All-Star help around him and he would not have to carry the team.

In the end, the problem was, the Heat could not carry James.

His disappointing season ended on Sunday night with the Dallas Mavericks' 105-95 victory in Game 6. James started strong and faltered at the finish, just as the Heat did in this series.

James said the loss felt like a "personal failure" but also said "it hurts of course, but I'm not going to hang my head low."

He averaged just 17.8 points in the series, few of them coming in the clutch situations. He tried to console himself by noting that he won two more games this time than he did in his first finals try, when his Cleveland Cavaliers were swept by San Antonio in 2007, and that maybe he could win two more next time.

He will need to. Because until then, the accusations of quitting against Boston in last year's playoffs, of shrinking under the pressure this time, will grow louder.

"That doesn't bother me," James said. "I understand this is a huge stage, and you want to perform well for nobody else besides your teammates. That's ultimately what it's about for me."

Miami simply could not overcome James's poor fourth quarters in most of the series. He had only 11 points in the final periods of the first five games. He had seven points in the final quarter of the last one, but he had gone too long without impacting the game after scoring nine of Miami's first 14 points.

"Sometimes you got it, sometimes you don't, and that was this case in this series," James said. calling Dallas an underrated defensive team that kept him out of the paint.

And while they celebrated in Dallas, there was surely a big bash in Ohio, James's home state. Fans there were stunned when he decided to leave the Cavaliers, and the hurt turned to rage when he opted to do it in a television show called The Decision, which included the announcement that he was taking his talents to South Beach.

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

Russia's Muslim Heartlands

Dominic Rubin, Oxford

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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.

Company profile

Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

Sector: Online gaming industry

Funding: $1.2m from a UAE angel investor

Emergency phone numbers in the UAE

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
MATCH INFO

Uefa Champions League semi-finals, second leg:

Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE

Game is on BeIN Sports

Company profile

Date started: Founded in May 2017 and operational since April 2018

Founders: co-founder and chief executive, Doaa Aref; Dr Rasha Rady, co-founder and chief operating officer.

Based: Cairo, Egypt

Sector: Health-tech

Size: 22 employees

Funding: Seed funding 

Investors: Flat6labs, 500 Falcons, three angel investors

The specs

Engine: 2.0-litre 4-cylturbo

Transmission: seven-speed DSG automatic

Power: 242bhp

Torque: 370Nm

Price: Dh136,814

Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books

Last-16 Europa League fixtures

Wednesday (Kick-offs UAE)

FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm

Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm

Inter Milan v Getafe (one leg only) 11pm

Manchester United (5) v LASK (0) 11pm 

Thursday

Bayer Leverkusen (3) v Rangers (1) 8.55pm

Sevilla v Roma  (one leg only)  8.55pm

FC Basel (3) v Eintracht Frankfurt (0) 11pm 

Wolves (1) Olympiakos (1) 11pm 

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.”