MANCHESTER // An injury-depleted Manchester United held crosstown rival Manchester City to an uneventful 0-0 draw yesterday that failed to live up to the hype of the much-anticipated derby.
The result puts both teams further behind Premier League leader Chelsea, which now has a four-point lead over second-place United following a 1-0 win over Fulham. City is fourth, another three points back.
"In the buildup to the game, there was maybe too much tension to be as open a match as many people thought there was going to be," United manager Alex Ferguson said. "I think City are difficult to beat on their own ground. That was obvious from the way they set their stall out in the second half, for us to break them down. They are very powerful and experienced that way. They are obviously going to be difficult to beat on their own ground."
A lackluster first half brought just one clear chance as City's former United striker Carlos Tevez's 39th-minute free kick forced goalkeeper Edwin van der Sar into an acrobatic save.
While both teams are hoping to compete for the Premier League title, there was little attacking ambition from either side and the second half offered even less action inside the goalmouth.
City at least avoided a repeat of last year, when it allowed United to score injury-time winners in both league meetings.
"It's a good point for me. I think we are improving from last year," City manager Roberto Mancini said. "I prefer one point tonight than no points like last year when we scored a few goals and lost. We tried to win because we want to win. When you play every few days the players are tired so I think a point is important. We're getting closer to United and need more time."
Dimitar Berbatov's 56th-minute volley was easily caught by Joe Hart, and apart from a wayward shot from City defender Pablo Zabaleta and a deflected effort from United's Michael Carrick, neither goalkeeper was troubled seriously again.
After a feisty start, United started finding space in which to operate outside the City area. Darren Fletcher laid off the ball for Carrick for United's first attempt of the game, but the quick shot soared high.
Park Ji-sung's neat one-two with Patrice Evra in the 21st sent the French defender into the City area only for him to produce a weak shot which was comfortably stopped by Hart.
Both teams seemed content to engage in a series of niggly fouls to disrupt play, and it was a trip by Paul Scholes on James Milner in that led to Tevez testing van der Sar with a free kick.
United responded as Evra's left-wing cross found Berbatov, but the Bulgarian's half-hit volley only succeeded in bouncing into the turf and presenting Hart with an easy gather.
United substitute Wes Brown sent another cross toward Berbatov early in the second half, but Hart comfortably stopped the attempt.
Ryan Giggs missed the game after a virus swept through the United camp this week, and striker Wayne Rooney is still not fit after an ankle injury.
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PROFILE
Name: Enhance Fitness
Year started: 2018
Based: UAE
Employees: 200
Amount raised: $3m
Investors: Global Ventures and angel investors
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Illegal%20shipments%20intercepted%20in%20Gulf%20region
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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.”
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
Bawaal%20
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What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
'Nope'
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THE%20SPECS
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Specs
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Sholto Byrnes on Myanmar politics
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RECORD%20BREAKER
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What is Genes in Space?
Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.
It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration.
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RESULTS
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