Arsenal were drawn against the seven-time champions AC Milan in the most compelling clash of the Champions League last 16.
The draw, held yesterday in Nyon, Switzerland, set up a another Italy-England clash in Chelsea v Napoli.
The defending champions Barcelona drew Bayer Leverkusen, getting their wish to avoid a long trip to Russia in freezing-cold February temperatures.
That arduous task fell to rival Real Madrid, who will play CSKA Moscow. “For us, the most important thing is not to play in Russia, for the temperatures and the distance,” said Amador Bern, the Barca director.
Emilio Butragueno, the Real director, conceded that weather will be “a key factor”. He added: “The weather and the temperature, we’re not used to that. We have to be very careful.”
Umberto Gandini, the Milan director, recalled that Arsenal eliminated his side from the competition at the same stage in 2008.
“Tie of the round,” he said. “For the quality and the appeal of the two clubs it is a fantastic tie.
“It’s a rematch of Arsenal beating us 2-0 at the San Siro. It will be a great match.”
Arsene Wenger, who was not at the draw, said he has no intention of buying the Cologne striker, Lukas Podolski, in the January transfer window.
His forward line at Arsenal is set to be further depleted when Gervinho and Marouane Chamakh depart for the African Cup of Nations next month, but Wenger expressed no interest in Podolski, the former Bayern Munich player.
However, Wenger did not rule out the possibility of buying a striker. "I don't know yet. That was an honest answer," he said.
Wenger, speaking ahead of tomorrow's Premier League trip to Manchester City, also revealed he would not stop the likes of Jack Wilshere and Aaron Ramsey from competing in a Great Britain side at next year's London Olympics.
Several coaches – most notably Manchester United’s Alex Ferguson – have voiced their disapproval at the prospect of their players being part of the British team, raising fears of burnout.
Chelsea face a stern test to make the quarter-finals after drawing Napoli, conquerors of Manchester City in the groups.
“It will be difficult, having seen Napoli when they were in the same group as Man City,” David Barnard, the Chelsea club secretary said. “Unfortunately City are no longer with us, which reflects the quality of Napoli.”
Bayern Munich have a short journey to Basel on the Swiss-German border. With the final played in Munich on May 19, Bayern are looking to be the first team playing a Champions League or European Cup final in their home stadium since Roma in 1984.
Fixtures
Lyon v Apoel Nicosia
Napoli v Chelsea
AC Milan v Arsenal
Basel v Bayern Munich
Bayer Leverkusen v Barcelona
CSKA Moscow v Real Madrid
Zenit St Petersburg v Benfica
Marseille v Inter Milan
First legs to be played Feb 14/15 and 21/22, second legs
March 6/7 and 13/14
RESULTS
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if you go
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
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UAE squad
Men's draw: Victor Scvortov and Khalifa Al Hosani, (both 73 kilograms), Sergiu Toma and Mihail Marchitan (90kg), Ivan Remarenco (100kg), Ahmed Al Naqbi (60kg), Musabah Al Shamsi and Ahmed Al Hosani (66kg)
Women’s draw: Maitha Al Neyadi (57kg)
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.”
Where can I submit a sample?
Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.
Collection centres in Abu Dhabi include:
- Abu Dhabi National Exhibition Centre (ADNEC)
- Biogenix Labs in Masdar City
- Al Towayya in Al Ain
- NMC Royal Hospital in Khalifa City
- Bareen International Hospital
- NMC Specialty Hospital, Al Ain
- NMC Royal Medical Centre - Abu Dhabi
- NMC Royal Women’s Hospital.
The Way It Was: My Life with Frank Sinatra by Eliot Weisman and Jennifer Valoppi
Hachette Books
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