Colombia's James Rodriguez has been a form player at the World Cup. Eric Gaillard / Reuters
Colombia's James Rodriguez has been a form player at the World Cup. Eric Gaillard / Reuters

World Cup round-up: Keisuke Honda apologises after Japan exit



Colombia

Jackson Martinez has showered praise on Colombian teammate James Rodriguez after the midfielder’s goal against Japan made him his country’s highest scorer in a World Cup finals tournament. Rodriguez has three goals at the tournament after his strike in the 4-1 win over Japan, that secured top spot in Group C and a match with Uruguay in the second round, on Saturday. The Monaco winger has stepped in on the scoring front in the absence of the injured striker Radamel Falcao, who has missed the tournament. Martinez said: “It’s impressive to see how James has improved. I knew him from FC Porto and I see that now in France he has matured so much. The talent he has is something that cannot be questioned. He is having a great tournament.”

Chile

The goalkeeper Claudio Bravo has signed a four-year deal to join Barcelona from Real Sociedad. Bravo, 31, has captained Chile, who are through to the second round in Brazil. He spent eight years at Sociedad and has started in all three of his country’s Group B matches. A Barcelona club statement said: “Claudio Bravo is noted for his calmness between the posts, his leadership skills, and lots of agility.” Barcelona’s former keeper, Victor Valdes, retired at the end of last season, 12 years after his first-team debut. The side moved to recruit Borussia Monchengladbach’s Marc-Andre ter Stegen during the summer transfer window, before acquiring Bravo.

Japan

Shinji Kagawa slammed Japan’s World Cup elimination as “pathetic” after Tuesday’s 4-1 thrashing by Colombia in their final group game. “It hurts to go out like this,” said the midfielder, who plays for Manchester United. “I don’t have any other words. I feel responsible and deeply sorry. It’s pathetic.” A three-goal blitz by Colombia in the second half ended Japan’s slender hopes of reaching the knockout stage in Brazil after a 2-1 defeat by Ivory Coast and a 0-0 draw with Greece. Keisuke Honda, who had declared defiantly that the Asian champions could win the World Cup, said: “It’s embarrassing. After I’d said Japan would win the tournament, in the end it finished with just empty talk … We simply weren’t good enough at this World Cup. We’ve still got a lot to learn. I’m extremely sorry.”

Spain

Spain internationals Koke and Juanfran have extended their contracts with Atletico Madrid until 2019 and 2018, respectively, the Primera Liga club said yesterday. Midfielder Koke, 22, who made two appearances in Spain’s failed campaign at the World Cup finals, and 29-year-old right back Juanfran last season helped Atletico win a first league title in 18 years and reach the final of the Uefa Champions League. “The two players are key parts of the club’s recent successes,” Atletico said on its website.

Ivory Coast

Sabri Lamouchi resigned as Ivory Coast coach minutes after his side’s hopes of reaching the World Cup second round were dashed by a late penalty giving Greece a 2-1 victory in Fortleza on Tuesday. The Frenchman said he had to draw the consequences of that failure to reach the last 16. “My contract comes to an end at this World Cup and there will be no epilogue and you can understand well as to why,” he said. “It is logical as we did not do well at last year’s Africa Cup of Nations or at the World Cup finals.”

sports@thenational.ae

Follow our sports coverage on Twitter @SprtNationalUAE

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4

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.”

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)