Jazira's Braga mocks rumours of move to Brazil



Our colleague Amith Passela reports on the rumours at Al Jazira ...

Abel Braga, the Al Jazira coach, has rubbished reports from the Brazilian media of a move to Santos, the Brazilian club, who is under caretaker coach after firing Dorival Junior following their 3-1 defeat to Vasco Da Gama in the Serie A on Wednesday.

"They are fabricated stories," Braga said. "I have a contract with Jazira until June 2011 and I want to respect that. My relationship with Jazira is built on respect and trust, so I don't intend of any moves, unless the club want me to go."

According to Braga, 17 coaches have been fired from the Brazilian league. "The speculations are rife and they drag every name as replacements. But there has been no offer for me from Santos, and even if there was one, my answer would be a clear no.

"I am not looking at the money anymore. I want to be with a club where I can contribute in their development and progress. I find that at Jazira. I am willing to even work free for them. That's the kind of respect I have built with Jazira."

Dorival was fired after he refused to recall the suspended 18-year-old star striker Neymar.

The club, often remembered as the home of Pele, have appointed Marcelo Martelote as caretaker coach and Braga's name was linked as one of the candidates by the Brazilian media.

"Of course there are no guarantees to a football manager's job," Braga said. "Laszlo Boloni (the Al Wahda coach) was terminated after two league matches. For the time being, my future of staying at Jazira is in their hands. But I have no intentions to leave unless they want me to."

Braga has an exemplary record with the Abu Dhabi club, having seen them finish second in his two years in charge, and rounding off the last season winning the Etisalat Cup.
They have lost just once in 26 league games from last season and meet Baniyas at the Mohammed bin Zayed Stadium tonight at 8.

"Baniyas is one of the most dangerous teams and they play attacking game," said Braga. "Jazira also play the same offensive style and I expect it to be a very open and entertaining game."

Sami Rabea, the Al Wasl defender and captain, who crossed over to Jazira on the last day of the transfer window 11 days ago, is set to get his first start for his new club. His place in the lineup is not one of choice but out of necessity, as replacement for Jumaa Abdullah, who is serving a one-match ban for three bookings.

Braga admitted his defense will be tested by Andre Senghor, the leading scorer with six goals after four rounds, and the youthful Baniyas midfielders  -- Mohammed Fawzi, Theyab Awana, Amer Abdulrahman, and Habboush Saleh, all from the UAE Olympic team.

"They work well from the middle and feed Senghor with good balls," said Braga. "We are also strong in the middle with Ibrahim Diaky, Matias (Delgado) and Subait (Khater), so I would expect the attack to come from the two flanks.

"I have a lot of respect for Baniyas but I am not afraid of them. We want to win this game after the two draws against Al Wahda and Al Ahli. Jazira is at a very good level and I am very hopeful of keeping that intact."

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Nazanin Zaghari-Ratcliffe was born and raised in Tehran and studied English literature before working as a translator in the relief effort for the Japanese International Co-operation Agency in 2003.

She moved to the International Federation of Red Cross and Red Crescent Societies before moving to the World Health Organisation as a communications officer.

She came to the UK in 2007 after securing a scholarship at London Metropolitan University to study a master's in communication management and met her future husband through mutual friends a month later.

The couple were married in August 2009 in Winchester and their daughter was born in June 2014.

She was held in her native country a year later.

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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.”

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