Cristiano Ronaldo, right, Anderson, centre, and Nani, left, in training at Manchester United yesterday.
Cristiano Ronaldo, right, Anderson, centre, and Nani, left, in training at Manchester United yesterday.

Sport

Celtic need the spirit of 2006 against United

Celtic must summon up the spirit of 2006 if they are to repeat a famous victory over Manchester United in the Champions League.

Mitch Phillips

November 04, 2008

LONDON // Celtic must summon up the spirit of 2006 if they are to repeat a famous victory over Manchester United tonight in the Champions League. Two years ago Shunsuke Nakamura's late free kick gave Celtic a 1-0 Parkhead win over United that helped them into the knockout phase for the first time but this year the Scots, with one point from three games, are hanging on by their fingertips.

They were swept aside 3-0 at Old Trafford last month as two goals from Dimitar Berbatov and one from Wayne Rooney capped an impressive display by United. Another win would send them into the last 16 with two games to spare if AaB Alborg fail to beat Villarreal in Denmark, while a draw would be enough if the Spaniards win. Celtic have lost only one of their last 11 home Champions League games but they have yet to score in three matches this season and United have yet to concede.

United's defence was given a wake-up call at the weekend, however, when Hull scored three times at Old Trafford, leaving Alex Ferguson's team hanging on for a 4-3 victory having led 4-1. "We got a warning on Saturday, we have to make sure we finish teams off," goalkeeper Edwin van der Sar said. "We must not stop halfway through the second half and start thinking about the next game." Celtic warmed up with a 2-0 win at Hearts that took them back to the top of the Scottish Premier League and manager Gordon Strachan dismissed suggestions that there was a big gap between the two British leagues.

"We didn't play as well as would have liked [at Old Trafford] but Man United are probably the best team in the world," he said. "Roma went there and got beat 7-0 but no-one said there was a big gulf between Italian football and English football. "West Ham went to Old Trafford last week and it was 2-0, it could have been six, West Brom went there and lost 4-0. "Everyone who goes there, who has spent more money than us, has got a right tonking.

"We got beaten 3-0 but two of the goals were offside so it's not as bad as people have been making out." Wes Brown seems unlikely to figure for United. He has missed United's last two games with an ankle injury. It means Gary Neville and Rafael Da Silva will contest the right-back slot in a United squad that is also missing injured midfield pair Owen Hargreaves and Paul Scholes. Angolan striker Manucho was also expected to miss the trip but the reserve team captain James Chester, 19, has been drafted into Ferguson's squad.

* Reuters

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On Women's Day
Dr Afridi's warning signs of digital addiction

Spending an excessive amount of time on the phone.

Neglecting personal, social, or academic responsibilities.

Losing interest in other activities or hobbies that were once enjoyed.

Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.

Experiencing sleep disturbances or changes in sleep patterns.

What are the guidelines?

Under 18 months: Avoid screen time altogether, except for video chatting with family.

Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.

Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.

Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.

Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.

Source: American Paediatric Association

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.”