DUBAI // They are ranked the world’s best by FIFA, have won back-to-back European Championships and return to the World Cup as defending champions.
But these accolades may also be Spain’s downfall in Brazil, its most passionate fans concede.
“Spaniards are very proud, we expect a lot, but we understand as well that we are not going to win every tournament, it’s impossible,” said Lucas Aylagas, a 26-year-old Spaniard living in Dubai. “And, the problem is, most of the teams, they already know how Spain plays, so it’s going to be more difficult.”
It didn’t help that La Roja started the tournament right where they left off in 2010, facing off against the runners-up, Holland, now ranked No 15.
“The Netherlands, they want revenge,” said Carlos Sistiaga, a 25-year-old Spaniard living in Dubai. And they certainly got it when they slaughtered Spain 5-1 in their opening game. Getting past the group stage will not be easy for Spain, Mr Aylagas said.
“It’s a quite difficult group,” said Mr Aylagas. “Chile is also a very good team, a good defence. Of course, starting in a group like this is going to be very difficult for Spain. Australia is not so good, but the other two teams are very difficult,” he said.
For Mr Sistiaga, when it comes to Group B, Chile poses a big threat.
“For me, Chile is going to be tougher than the Netherlands,” he said of the No 14-ranked South Americans. “But also I think it’s not bad to start, like, playing against strong teams because from the beginning, you are really focused. You know that you can’t make a mistake.”
This is a lesson Spain learned the hard way.
In the last World Cup, “they started against Switzerland and we thought, of course, we are going to win this match, it will be easy”, Mr Sistiaga said. “And at the end, we have lost it. And maybe it was because we thought, ‘Oh, we won the European cup and we are the favourites against Switzerland and we will win’. And, of course, always the first match is important, but we have seen it is not essential. I feel confidence with my team and I have to trust them.”
The team also has to contend with older players, and must hope they are not mired in the complacency that often comes with being repeat champions.
“Of course, I have confidence in my team,” Mr Sistiaga said. “I mean, it’s not going to be a surprise if Spain wins again the World Cup, but I think the only thing is that we are thinking that we are not as well as four years ago.
“Overall because I think it’s not the same if you have never won a World Cup than if you have won once. Overall it’s the same players that have already won the World Cup. Maybe, we don’t know that they are going to be, like, so hungry to try to win again. But of course all of the Spanish people should trust our national team to prove that they are the best.”
Complacent or not, Spain is still a powerhouse and fans expect an appearance in the quarterfinals, at least.
“If we play half as good as we played last time, we’ll get there easy,” said Nicolas Calonje, 26, a Spaniard living in Dubai. “We’re Spain, everybody fears us.”
The UAE is home to a tightly-knit Spanish community of about 12,000 compatriots. They maintain their national ties through the Spanish Business Council which organizes social and networking events throughout the year. There is also a Facebook group called Españoles en Dubai to keep members connected. There is no official fan zone or gathering spot for Spaniards to cheer on their team. But one popular spot is the newly opened Real Madrid Cafe in JBR.
rpennington@thenational.ae
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
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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.”
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The five pillars of Islam
Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Key fixtures from January 5-7
Watford v Bristol City
Liverpool v Everton
Brighton v Crystal Palace
Bournemouth v AFC Fylde or Wigan
Coventry v Stoke City
Nottingham Forest v Arsenal
Manchester United v Derby
Forest Green or Exeter v West Brom
Tottenham v AFC Wimbledon
Fleetwood or Hereford v Leicester City
Manchester City v Burnley
Shrewsbury v West Ham United
Wolves v Swansea City
Newcastle United v Luton Town
Fulham v Southampton
Norwich City v Chelsea
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.