Arsenal manager Arsene Wenger shown during his team's draw with Crystal Palace on Sunday in the Premier League. Paul Gilham / Getty Images / April 17, 2016
Arsenal manager Arsene Wenger shown during his team's draw with Crystal Palace on Sunday in the Premier League. Paul Gilham / Getty Images / April 17, 2016

Arsenal’s Arsene Wenger: ‘I’m not in that kind of mood to dream about the championship’



Arsenal manager Arsene Wenger wants his side to repair the "mental damage" of a 1-1 draw against Crystal Palace when they face West Bromwich Albion in the Premier League on Thursday.

Wenger's men blew a chance to take a major step towards securing Champions League qualification for a remarkable 19th successive season after being held at home by London rivals Palace at the Emirates Stadium on Sunday.

Arsenal led via Alexis Sanchez’s header in first-half stoppage time and dominated throughout before Yannick Bolasie’s equaliser in the 81st minute ensured the home side were greeted with a chorus of boos come the final whistle.

Wenger's men are still fourth in the table, occupying the last of the automatic Champions League places on offer to English clubs, but Manchester United are just four points behind in fifth with five games remaining.

• Read more: Arsenal in a different kind of fight now – Arsene Wenger's underachievement continues

• Also see: Alexis Sanchez on target but Arsenal disappoint against Crystal Palace – in pictures

Sunday’s result ended Arsenal’s already-slim hopes of winning the title and veteran Arsenal manager Wenger said: “We are too disappointed to think about the league, we have to think about the Champions League and fight to be in the Champions League.

“I’m not in that kind of mood to dream about the championship but I need to repair mental damage and prepare for the next game to come against West Brom on Thursday,” the Frenchman added. “You have to do that rather than look behind us.

“Everyone playing is winning games. It could be a fight in the end to stay and get a place in the top four.”

Against Palace, it was a familiarly depressing story for Arsenal, who dominated but still dropped two points.

Sanchez headed home Danny Welbeck’s pass on the strike of half-time against a Palace side content to sit back and defend deep.

But chances went begging for Arsenal before Bolasie hit the hosts on the break nine minutes from time.

“We usually create a high number of chances. We lacked a change of pace, sharpness and they defended well,” Wenger said.

“You have to sometime win 1-0 and this is one of those days. We are a team that likes to take the initiative. With that you expect goals and you accept the risk where taking the game to an opponent.

“I’m responsible and I’m frustrated. We will see where we stand at the end of the season so we must stick together.”

Palace are all but safe from the threat of relegation and manager Alan Pardew now hopes his players give him a selection dilemma at Manchester United on Wednesday before Saturday's FA Cup semi-final with Watford.

“There will be changes,” Pardew said. “I want to give people the chance to play in that semi-final.

“I don’t think (losing focus) will be a problem at Old Trafford. There’s more energy in the team and a defensive focus. They are a great bunch of players to manage. We are an honest team.

“That period before our recent game with West Ham and I think the Cup run was affecting our focus, work rate, commitment – and that’s what Palace is about.

“We have renewed confidence in our defence and goalkeeper (Wayne Hennessey). We need momentum to go to big game likes Old Trafford and Wembley.”

Pardew added: “We are a mid-table team and we need to prove that. We need to get ourselves up there and there’s this big game for the club and our fans at Wembley.”

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WEST ASIA RUGBY 2017/18 SEASON ROLL OF HONOUR

Western Clubs Champions League
Winners: Abu Dhabi Harlequins
Runners up: Bahrain

Dubai Rugby Sevens
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West Asia Premiership
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UAE Premiership Cup
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UAE Premiership
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Jebel Ali Dragons 26 Bahrain 23

Dragons
Tries: Hayes, Richards, Cooper
Cons: Love
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Bahrain
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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.

Innotech Profile

Date started: 2013

Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

Stage: Seed stage and seeking Series A round of financing 

Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now. 

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