Quarter-finals: Wales v Belgium, Friday, 11pm (UAE time)
Toulouse // Kevin de Bruyne wants Belgium's Euro 2016 quarter-final clash with Wales to be like a home game – the Lille stadium is just 100 kilometres from the Belgian border.
A wave of Belgians is expected to cross the frontier to invade the French city to watch their country take on opponents that De Bruyne called “a technically and defensively astute side.”
Belgium are on a high after their 4-0 rout of Hungary on Sunday that saw Chelsea forward Eden Hazard produce an inspirational display as captain. De Bruyne is counting on the side to produce more of the same.
“I can’t wait for this match, which will be like a home match for us because it’s right on the Belgian border. We’re expecting a lot of fans. We hope we can go all the way in this tournament.”
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The one-sided performance against Hungary in Toulouse has encouraged Belgian hopes that they can emulate their 1980 feat of reaching the final, when they lost to West Germany.
As plaudits poured down on Belgium afteer the dazzling display, manager Marc Wilmots was quick to send a word of caution.
“We’re into the quarter-finals, but we’ve done nothing yet,” said Wilmots, who will be without defender Thomas Vermaelen after he picked up a yellow card to trigger a one-match suspension.
But Belgium head to Lille as favourites – and Wales manager Chris Coleman is happy about that after his side laboured to a 1-0 win over Northern Ireland when they were favourites.
“We were edgy going into the Northern Ireland game as we were expected to win and we work better as the underdog,” Coleman said.
“We have proved that – and people will expect Belgium to win. They had some criticism coming into the tournament and they lost the first game [against Italy].
“But if you have a squad with that quality then any team you play against, apart from maybe two or three, Belgium are favourites.”
But after some topping their group ahead of England, and beating Russia 3-0, Wales will fancy their chances, and Belgian star Yannick Carrasco agrees.
Belgium, who played Wales both in the 2014 World Cup and Euro 2016 qualifying, failed to win any of their last three meetings against the British side.
Wales also held Belgium twice in Brussels and won 1-0 in Cardiff just over a year ago when Gareth Bale hit the winner.
As a striker with Atletico Madrid, Carrasco knows Real Madrid forward Bale well.
Carrasco said: “Every match is different. Against the Welsh, we have to produce the same performance. They’re a compact and well-drilled side. They’re not going to give us a lot of space. And of course, they have Bale.”
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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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From: Gujranwala, Pakistan
Arrived in the UAE: 1976
Favourite clothes to make: Suit
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German intelligence warnings
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FOOTBALL TEST
Team X 1 Team Y 0
Scorers
Red card
Man of the Match
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Corporate Leadership: Carl Bistany (Lebanon)
Cultural Excellence: Hoor Al Qasimi (UAE)
Environmental Development and Sustainability: Bkerzay (Lebanon)
Environmental Development and Sustainability: Raya Ani (Iraq)
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Humanitarian and Civic Services: Osamah Al Thini (Libya)
Excellence in Education: World Innovation Summit for Education (WISE) (Qatar)
Outstanding Arab Woman: Balghis Badri (Sudan)
Scientific and Technological Achievement: Mohamed Slim Alouini (KSA)
Young Entrepreneur: Omar Itani (Lebanon)
Lifetime Achievement: Suad Al Amiry (Palestine)
MATCH INFO
Uefa Champions League, semi-final result:
Liverpool 4-0 Barcelona
Liverpool win 4-3 on aggregate
Champions Legaue final: June 1, Madrid
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