Celtic and AS Monaco face testing Champions League missions on Tuesday with their hopes of reaching the money-spinning group stages on a knife-edge.
Ronny Deila’s Celtic take a 3-2 lead to Malmo in the second leg of their play-off while Monaco must turn around a 3-1 deficit when they welcome Spanish side Valencia to the principality.
Swedish champions Malmo struck a second away goal late on through Jo Inge Berget at Celtic Park last week.
“We are very irritated with the last thing that happened in the game. But we have to move on and know that we are ahead and we are going to do this in Malmo,” said Deila.
“We are one goal ahead and they have to beat us in Malmo. It was an okay result, but it could have been a better result.”
Celtic suffered heartache at this stage last season when they were eliminated 2-1 on aggregate by Slovenian side NK Maribor.
But the 1967 winners – the first British club to win the European Cup – believe they have a better chance of progress this time.
“Of course we can beat Malmo away. But they have to beat us, and that is a positive thing,” added Deila.
“They have to attack us and that can suit us.”
Malmo, who are looking to make the group stages for the second successive season, will not be phased by the challenge of overturning the deficit.
They came back from a 2-0 first-leg defeat to advance 3-2 against Red Bull Salzburg in the previous qualifying round.
Leonardo Jardim's Monaco, last season's quarter-finalists, conceded a late third goal in the first leg when Sofiane Feghouli struck for the La Liga side.
Only Jeremy Toulalan, Danijel Subasic and Wallace retained their places for the 1-1 Ligue 1 draw against Toulouse on Saturday with Jardim making eight changes from the defeat at the Mestalla.
Portuguese playmaker Joao Moutinho is still sidelined for Monaco while Helder Costa and Aymen Abdennour are also unavailable, but 2004 runners-up Monaco are otherwise at full strength.
Valencia coach Nuno Espirito Santo also rang the changes for his side’s first game of the Spanish season against Rayo Vallecano on Saturday.
Mathew Ryan, Shkodran Mustafi, Ruben Vezo and Rodrigo de Paul were the only players to have kept their places from the first-leg win over Monaco.
Ukrainian side Shakhtar Donetsk have a 1-0 lead over Austria’s Rapid Vienna ahead of their return leg in Lviv.
Shakhtar are favourites to reach the group stage for a sixth consecutive season after Marlos’s 44th-minute winner in Vienna.
Rapid are looking to make the group stages for the first time since the 2005/06 campaign and overcame four-time champions Ajax in the last round.
Swiss champions FC Basel, who have reached the round of 16 twice in the last four seasons, face an uphill task in Israel after Maccabi Tel Aviv pinched a 2-2 first-leg draw in Switzerland.
Eran Zahavi’s header six minutes into stoppage time means Basel have it all to do in Tel Aviv.
Albanian champions Skenderbeu must win at Dinamo Zagreb after losing 2-1 at home in the first leg.
Josip Pivaric struck in added time for the Croatian champions who are looking to make the group stages for the first time in three years.
Skenderbeu will become the first Albanian side to qualify for the main draw should they advance.
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COMPANY%20PROFILE%20
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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.”
Drivers’ championship standings after Singapore:
1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68
((Disclaimer))
The Liechtensteinische Landesbank AG (“Bank”) assumes no liability or guarantee for the accuracy, balance, or completeness of the information in this publication. The content may change at any time due to given circumstances, and the Liechtensteinische Landesbank AG is under no obligation to update information once it has been published. This publication is intended for information purposes only and does not constitute an offer, a recommendation or an invitation by, or on behalf of, Liechtensteinische Landesbank (DIFC Branch), Liechtensteinische Landesbank AG, or any of its group affiliates to make any investments or obtain services. This publication has not been reviewed, disapproved or approved by the United Arab Emirates (“UAE”) Central Bank, Dubai Financial Services Authority (“DFSA”) or any other relevant licensing authorities in the UAE. It may not be relied upon by or distributed to retail clients. Liechtensteinische Landesbank (DIFC Branch) is regulated by the DFSA and this advertorial is intended for Professional Clients (as defined by the DFSA) who have sufficient financial experience and understanding of financial markets, products or transactions and any associated risks.
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UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
UAE currency: the story behind the money in your pockets
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Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5