ABU DHABI // After months of preparations, the Fifa Club World Cup kicks off in the capital tonight as the UAE Pro League champions, Al Ahli, take on Auckland City, from New Zealand.
Having successfully staged the Abu Dhabi Grand Prix, which was viewed by a huge international audience last month, the eyes of the world will once more be on Abu Dhabi as the football tournament begins at 8pm at Mohammed bin Zayed Stadium. The games will be broadcast in 180 countries across six continents. The 11-day, eight-match, seven-team tournament features six continental champions as well as Al Ahli.
At stake for the clubs is a US$5 million (Dh18m) top prize. Abu Dhabi, meanwhile, can reaffirm its reputation as a friendly and efficient site for major Fifa competitions. The 2003 World Youth Championship was successfully staged in the capital, and another well-run tournament could bring it the confidence to bid for more big competitions, said Mohammed Khalfan al Rumaithi, the president of the UAE Football Association.
Those tuning in to the Al Jazeera Sports channel for tonight's first match should see a near-capacity crowd. Organisers said only a few tickets remained unsold for the match, which also features the tournament's opening ceremony, with 250 performers. Sections of the stands are expected to be filled by expatriate New Zealanders, along with about 20 fans who braved a 19-hour journey from Auckland, via Hong Kong.
Around 5,000 regular Al Ahli supporters will be there. They expect to be augmented by hundreds of fans from other UAE Pro League clubs who have pledged their support to the UAE's representative. The final and semi-finals were already sold out, said Mr al Rumaithi. The slogan of FIFA's marketing campaign for the tournament has been "Make some noise", and it would seem the sound stage is set. "All the stadiums and the sites for the tournament are ready and waiting, particularly the Mohammed bin Zayed Stadium," said Mr al Rumaithi.
Although all tickets to the final and semi-finals were gone, he said "a number of tickets" were available to some of the early matches. Abu Dhabi has been readying itself to host Fifa's Club World Cup intended to identify the best club team on the planet since it was awarded the competition in May 2008. Major renovations to the Mohammed bin Zayed Stadium and Zayed Sports City have been chief among the improvements, including freshly laid pitches.
The excitement for the event began to build in May when Barcelona defeated Manchester United in the Champions League final, booking their place in the tournament as Europe's best club. Barcelona could win a record-breaking six trophies for the year with a championship in Abu Dhabi and are arriving with a full squad featuring elite players, such as Lionel Messi and Zlatan Ibrahimovic. Meanwhile, supporters of the clubs have begun arriving in the capital ahead of the matches.
The excitement and nerves were already settling in yesterday for Colin Cook, the secretary of the Auckland City supporters club. He said a victory for Auckland could bring further respect to New Zealand football, which is still basking in the glow of its national team qualifying last month for the 2010 World Cup finals in South Africa. "We were down at the stadium today and you can feel it - trepidation and anticipation," he said.
"We want to win for the whole area. Oceania is struggling for credibility, but slowly but surely we are getting some. If we were to get a win here I think people would start to take Oceania football seriously." Most of the Auckland fans arrived in Dubai last Friday and have booked their return flights for tomorrow. Should the club defeat Al Ahli, some plan to stay. Nado Yugovich, the head of the supporters club, joked that he would be desperately trying to fly back should they get the chance to meet Barcelona in the semi-finals by defeating Al Ahli and then Atlante of Mexico.
"If we beat the Mexicans I think we'll be flying back for the game against Barcelona. There'll be money being scraped around everywhere for that one." In addition to Auckland, the African club champions TP Mazembe from Congo and Asian champions Pohang Steelers from South Korea have arrived ahead of their match on Friday. Kim Tae-Yung, a spokesman for the Pohang Steelers, said no fans had travelled with the club from Korea but he hoped for support from about 2,000 Korean expatriates living in the capital.
However, more than 2,000 supporters of Estudiantes de la Plata from Argentina are expected to travel with the club when they arrive to prepare for their semi-final next Tuesday, said Diego Raimundo, a spokesman for the club. Elisa Labori, the president of the FC Barcelona Fan Club of the UAE, said she was not sure how many supporters were coming to the capital from Barcelona. She said about 150 people had signed up for a charter flight through the club but others had bought tickets and made their own travel arrangements.
Her club had arranged a bus from Dubai for about 300 people, she said.
mchung@thenational.ae
Dubai World Cup Carnival card
6.30pm: Al Maktoum Challenge Round-2 Group 1 (PA) US$75,000 (Dirt) 1,900m
7.05pm: Al Rashidiya Group 2 (TB) $250,000 (Turf) 1,800m
7.40pm: Meydan Cup Listed Handicap (TB) $175,000 (T) 2,810m
8.15pm: Handicap (TB) $175,000 (D) 1,600m
8.50pm: Handicap (TB) $135,000 (T) 1,600m
9.25pm: Al Shindagha Sprint Group 3 (TB) $200,000 (D) 1,200m
10pm: Handicap (TB) $135,000 (T) 2,000m
The National selections:
6.30pm - Ziyadd; 7.05pm - Barney Roy; 7.40pm - Dee Ex Bee; 8.15pm - Dubai Legacy; 8.50pm - Good Fortune; 9.25pm - Drafted; 10pm - Simsir
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
READ MORE ABOUT CORONAVIRUS
Company Profile
Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000
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.
THE SWIMMERS
Director: Sally El-Hosaini
Stars: Nathalie Issa, Manal Issa, Ahmed Malek and Ali Suliman
Rating: 4/5
Bharatanatyam
A ancient classical dance from the southern Indian state of Tamil Nadu. Intricate footwork and expressions are used to denote spiritual stories and ideas.
COMPANY PROFILE
Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends
The Cairo Statement
1: Commit to countering all types of terrorism and extremism in all their manifestations
2: Denounce violence and the rhetoric of hatred
3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC
4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.
5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.
6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security
Opening weekend Premier League fixtures
Weekend of August 10-13
Arsenal v Manchester City
Bournemouth v Cardiff City
Fulham v Crystal Palace
Huddersfield Town v Chelsea
Liverpool v West Ham United
Manchester United v Leicester City
Newcastle United v Tottenham Hotspur
Southampton v Burnley
Watford v Brighton & Hove Albion
Wolverhampton Wanderers v Everton
The specs
Engine: 2.3-litre, turbo four-cylinder
Transmission: 10-speed auto
Power: 300hp
Torque: 420Nm
Price: Dh189,900
On sale: now
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SPECS
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Match info:
Leicester City 1
Ghezzal (63')
Liverpool 2
Mane (10'), Firmino (45')
Company Profile
Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed
TV (UAE time);
OSN Sports: from 10am
The specs
Engine: 4.0-litre twin-turbo V8
Power: 666hp at 6,000rpm
Torque: 850Nm at 2,300-4,500rpm
Transmission: 8-speed auto
On sale: Q1 2023
Price: from Dh1.15 million (estimate)
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.
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.”
Employment lawyer Meriel Schindler of Withers Worldwide shares her tips on achieving equal pay
Do your homework
Make sure that you are being offered a fair salary. There is lots of industry data available, and you can always talk to people who have come out of the organisation. Where I see people coming a cropper is where they haven’t done their homework.
Don’t be afraid to negotiate
It’s quite standard to negotiate if you think an offer is on the low side. The job is unlikely to be withdrawn if you ask for money, and if that did happen I’d question whether you want to work for an employer who is so hypersensitive.
Know your worth
Women tend to be a bit more reticent to talk about their achievements. In my experience they need to have more confidence in their own abilities – men will big up what they’ve done to get a pay rise, and to compete women need to turn up the volume.
Work together
If you suspect men in your organisation are being paid more, look your boss in the eye and say, “I want you to assure me that I’m paid equivalent to my peers”. If you’re not getting a straight answer, talk to your peer group and consider taking direct action to fix inequality.
Notable groups (UAE time)
Jordan Spieth, Si Woo Kim, Henrik Stenson (12.47pm)
Justin Thomas, Justin Rose, Louis Oosthuizen (12.58pm)
Hideki Matsuyama, Brooks Koepka, Tommy Fleetwood (1.09pm)
Sergio Garcia, Jason Day, Zach Johnson (4.04pm)
Rickie Fowler, Paul Casey, Adam Scott (4.26pm)
Dustin Johnson, Charl Schwartzel, Rory McIlroy (5.48pm)
The Specs
Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now
if you go
Getting there
Etihad (Etihad.com), Emirates (emirates.com) and Air France (www.airfrance.com) fly to Paris’ Charles de Gaulle Airport, from Abu Dhabi and Dubai respectively. Return flights cost from around Dh3,785. It takes about 40 minutes to get from Paris to Compiègne by train, with return tickets costing €19. The Glade of the Armistice is 6.6km east of the railway station.
Staying there
On a handsome, tree-lined street near the Chateau’s park, La Parenthèse du Rond Royal (laparenthesedurondroyal.com) offers spacious b&b accommodation with thoughtful design touches. Lots of natural woods, old fashioned travelling trunks as decoration and multi-nozzle showers are part of the look, while there are free bikes for those who want to cycle to the glade. Prices start at €120 a night.
More information: musee-armistice-14-18.fr ; compiegne-tourisme.fr; uk.france.fr
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 7-speed dual-clutch auto
Fuel consumption: 10.5L/100km
On sale: Now
Price: From Dh129,999 (VX Luxury); from Dh149,999 (VX Black Gold)
About Tenderd
Started: May 2018
Founder: Arjun Mohan
Based: Dubai
Size: 23 employees
Funding: Raised $5.8m in a seed fund round in December 2018. Backers include Y Combinator, Beco Capital, Venturesouq, Paul Graham, Peter Thiel, Paul Buchheit, Justin Mateen, Matt Mickiewicz, SOMA, Dynamo and Global Founders Capital
COMPANY PROFILE
Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures
Company Profile
Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices
