Cesc Fabregas has fitted in well at Barcelona and has struck up a very potent understanding with Lionel Messi.
Cesc Fabregas has fitted in well at Barcelona and has struck up a very potent understanding with Lionel Messi.

Cesc Fabregas rescues a point for Barcelona against Valencia



BARCELONA // A clinical Cesc Fabregas strike rescued a point for the Primera Liga champions Barcelona to secure them a 2-2 draw away to top of the table Valencia.

After the first weekend of fixtures there were complaints that the league had turned into a two horse race as both Barca and Real Madrid won by large margins but since then it has not gone their way and Valencia lead the way with ten points.

Indeed Real dropped further points as they followed up their shock defeat to Levante last weekend by being held 0-0 by modest Racing Santander.

Barcelona started at the Mestalla without the injured Andres Iniesta and Gerard Pique while David Villa was rested in attack against his former club.

The home side went ahead after just eleven minutes when Eric Abidal put a Jeremy Mathieu cross into his own net but just two minutes later Pedro equalised after an interchange between Fabregas and Lionel Messi.

It was far from a typical display from Barcelona though as Valencia enjoyed plenty of possession in the middle of the pitch and they went ahead again via a Mathieu cross with Pablo Hernandez slotting the ball home unmarked at the far post.

Then before half time Roberto Soldado missed in front of an empty goal.

It was not until the final stages of the match that Barca asserted themselves on the game and it was once again a Messi and Fabregas combination which has worked so well this season that made the difference.

The Argentine found the former Arsenal captain, who kept his head and placed the ball past the keeper.

In injury time Valencia defender Jordi Alba was given a straight red card for a comment he made to the referee.

Real coach Jose Mourinho rang the changes after the 1-0 defeat by Levante at the weekend which included Jose Callejon and Lassana Diarra coming into the side but it was another ineffective performance.

Cristiano Ronaldo had a header well saved by keeper Tono Rodriguez before the break and in the second half the introduction of Angel Di Maria did make some difference but he was unable to change the course of the match.

In the closing stages Real were reduced to pumping the ball forward hopefully and Racing were able to hang on. The draw leaves Real Madrid on seven points, three adrift of Valencia.

"This was a different match to that against Levante as here it felt as though there was only one side looking to win the game," said Mourinho.

"It is a worrying situation as we have now lost five points from two games away from home.

"It would be wrong to say one player hasn't scored or another one has failed but as a team we weren't at our best although we tried."

Elsewhere last night, Atletico Madrid recorded their second successive 4-0 win as they beat pointless Sporting Gijon with Colombian striker Falcao scoring a double following on from his hat-trick at the weekend.

A second half strike from Santi Cazorla gave the Qatar-owned Malaga victory over Athletic Bilbao and Levante's good form continued with a 2-1 win away at Rayo Vallecano.

Today, Real Betis, another side with a 100 per cent record, face Real Zaragoza.

In Italy, Juventus's new signing Mirko Vucinic scored and then got sent off before half time as Juventus were held 1-1 at home by Bologna to drop their first points in Serie A this season.

The Montenegro striker, signed from AS Roma for €15 million (Dh74.6m) in the close season, turned in a free kick on 30 minutes as Bologna were caught off guard only to be dismissed for two senseless yellow cards just before the half-time whistle.

Daniele Portanova levelled for the visitors after the break.

Champions AC Milan remain without a win as they were held 1-1 at home by Udinese with Antonio di Natale, last season's league top scorer, netting for the third straight game for the visitors.

Napoli, who beat Milan 3-1 on Sunday, came down to earth with a bump as they lost 1-0 at Chievo, Davide Moscardelli scoring the winner midway through the second half.

Germany striker Miroslav Klose notched the winner for Lazio as they secured a 2-1 victory on Cesena's artificial pitch and Atalanta won by the same score at Lecce to remain unbeaten.

Promoted Atalanta moved up to one point, having started the season with a six-point deduction for their involvement in a match-fixing scandal in Serie B.

Argentine striker German Denis scored both their goals, including a penalty, taking his tally to three.

Cagliari, who won their first two games along with Juventus, Napoli and Udinese, were beaten 3-2 at Palermo.

Juventus, Udinese and Genoa are level on seven points from three games at the top, Genoa beating visitors Catania 3-0 with two goals from Argentine striker Rodrigo Palacio.

"It's disappointing not to win but I'm satisfied for the effort today and in general for the three matches so far," the Juventus coach Antonio Conte said.

"We know where we have to improve, especially in the matter of self-belief after two seasons which were not easy."

Juventus, a disappointing seventh last season, made a confident start and deservedly went ahead in the 27th minute.

Andrea Pirlo took a quick free kick in midfield while the Bologna players still had their backs turned and with the ball still moving.

His pass found Vucinic unmarked in the penalty area and he turned the ball past Jean-Francois Gillet with the visitors wondering what had happened.

Vucinic had already been booked for dissent and could have been sent off for pulling a cardboard box over his head in the celebrations.

But there was no let-off in first half stoppage time when he caught Archimede Morleo with a late tackle deep in the opposition half and was dismissed amid angry Juve protests.

Bologna levelled seven minutes after the break when Portanova rose above the defence at a corner to head past Gianluigi Buffon, who stayed rooted to his line.

Pirlo and Giorgio Chiellini had chances to put Juventus back in front but Gillet kept the hosts at bay.

Christian Abbiati, the Milan goalkeeper, was less fortunate as he fumbled a cross and allowed Di Natale the simple task of giving Udinese a 27th minute lead at the San Siro.

Substitute Stephan El Shaarawy, who replaced the injured Alexandre Pato, levelled with a clinical finish in the 64th to leave Milan in 14th place with two points from three games.

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.”

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.