South Korea's Jang Sel-gi celebrates her goal during a match between North and South Korea in Pyongyang. Yonhap via REUTERS
South Korea's Jang Sel-gi celebrates her goal during a match between North and South Korea in Pyongyang. Yonhap via REUTERS
South Korea's Jang Sel-gi celebrates her goal during a match between North and South Korea in Pyongyang. Yonhap via REUTERS
South Korea's Jang Sel-gi celebrates her goal during a match between North and South Korea in Pyongyang. Yonhap via REUTERS

Sports no path to peace as the two Koreas face off in Pyongyang football match


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PYONGYANG // So you believe sport is a path to peace? If so, Pyongyang was the wrong place to be on Friday, as the two Koreas — technically at war for nearly 70 years — faced off in a rare football match.

On the field, Korean women fought to a 1-1 draw. But in the stands, more than 40,000 fans made clear the game did not reflect a thaw in deeply troubled Korean relations.

There was the sound of tens of thousands of voices singing in praise of the North Korean fatherland. There were Pyongyang university students shouting slogans in near-perfect unison. There was a low rumble of discontent any time a South Korean player touched the ball.

And from the South Korean fans? Well, if there were any in Kim Il Sung stadium they were keeping very quiet.

Amid global nervousness that North Korea may be about to test its sixth nuclear device, and as more than 200,000 South Korean and American soldiers held their annual joint military exercises, a football match in Pyongyang — along with an inter-Korean ice hockey game held the same day in South Korea — was not bringing brotherhood any time soon to the Korean Peninsula.

In Pyongyang, the underdog South Korean players jumped with joy and hugged when the match ended, thrilled not to lose. The North Korean players lined up on the field to half-heartedly shake hands with their opponents, while tens of thousands of disappointed fans quietly filed out.

“Our players showed their strength, and their ability to attack the South Koreans,” university student Pak Yong Jin said as he left the stadium, carrying his briefcase in one hand and a cardboard bullhorn he had used to shout encouragement in the other. Asked if he thought a tie may have been the best result, given so many decades of enmity, he politely made clear he thought the question was foolish.

“I have no feelings about the South Korean players,” he said. “I only wish our players had scored more goals.”

The game, the first-ever official football face off in Pyongyang between the two Koreas, was one in a series of women’s Asian Football Confederation qualifying matches being held here in April.

In better days, there was fairly regular contact between the two Koreas — sporting events, academic discussions, talks about business and investment. But Seoul has suspended almost all civilian exchanges since a nuclear test by Pyongyang in January 2016, and amid a flurry of missile tests.

Neither the football nor the hockey match received much attention in South Korea, with news reports mostly limited to short dry stories.

Yang Moo-jin, a professor at Seoul’s University of North Korean Studies, said the South’s indifference was a wasted opportunity to use sports as a diplomatic tool, even just to resume basic communications.

*Associated Press

If you go

The flights

Fly direct to London from the UAE with Etihad, Emirates, British Airways or Virgin Atlantic from about Dh2,500 return including taxes. 

The hotel

Rooms at the convenient and art-conscious Andaz London Liverpool Street cost from £167 (Dh800) per night including taxes.

The tour

The Shoreditch Street Art Tour costs from £15 (Dh73) per person for approximately three hours. 

The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

If you go

The flights

There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.

The trip

Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.

The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.

 

THE APPRENTICE

Director: Ali Abbasi

Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong

Rating: 3/5

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Results for Stage 2

Stage 2 Yas Island to Abu Dhabi, 184 km, Road race

Overall leader: Primoz Roglic SLO (Team Jumbo - Visma)

Stage winners: 1. Fernando Gaviria COL (UAE Team Emirates) 2. Elia Viviani ITA (Deceuninck - Quick-Step) 3. Caleb Ewan AUS (Lotto - Soudal)

Company profile

Name: Tharb

Started: December 2016

Founder: Eisa Alsubousi

Based: Abu Dhabi

Sector: Luxury leather goods

Initial investment: Dh150,000 from personal savings

 

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models
The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

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.”

Dolittle

Director: Stephen Gaghan

Stars: Robert Downey Jr, Michael Sheen

One-and-a-half out of five stars

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5