Portugal 3 Hungary 3
POR: Nani 42’; Ronaldo 50’, 62’
HUN: Gera 19’; Dzsudzsak 47’, 55’
Cristiano Ronaldo scored two trademark brilliant goals Wednesday to go into European Championship history and rescue Portugal in a 3-3 draw that took them into the last 16.
The 31-year-old opened his account in style with a deft backheel flick on 50 minutes, then a bullet header 12 minutes later to twice equalise at the Stade de Lyon.
The result left Hungary on top of Group F. Portugal squeezed through as one of the best third-place finishers but now face a tough match against Croatia.
The Real Madrid ace became the first player to score at four European Championship finals and his 17th match in a Euro tournament was also a record.
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It was his 128th appearance for Portugal, further extending the record he set last Saturday, as he made a record 17th appearance at Euro finals.
Following their draws with Iceland and Austria, Portugal’s captain had been feeling the pressure.
He threw a TV reporter's microphone in a lake on the morning of the game in Lyon.
But he delivered when it mattered as Portugal equalised three times in a topsy-turvy match – not one for the faint-hearted.
Hungary captain Balazs Dzsudzsak matched Ronaldo by netting two second-half goals as the “Mighty Magyars” took first place as Group F winners.
With three draws, Portugal advance as third behind Iceland.
Hungary took the lead in sweltering conditions at the Stade de Lyon when veteran midfielder Zoltan Gera unleashed a thunderbolt.
There was nothing on when Portugal failed to clear a corner.
But the 37-year-old Gera belted a low left-footed drive into the bottom-right corner which gave Portugal goalkeeper Rui Patricio no chance on 19 minutes.
At the other end, a save from Hungary goalkeeper Gabor Kiraly, who has made grey sweatpants the must-have fashion back home, saved a swirling Ronaldo free-kick on 29 minutes.
Nani had the ball in the Hungary net five minutes from the break, but his effort was ruled offside.
The Fenerbahce forward was not to be denied and his crisp finish, after a lovely pass in from Ronaldo, put Portugal level on 42 minutes.
The game burst into life with four goals in the opening 20 minutes of the second-half.
Hungary regained the lead just two minutes after the break when Dzsudzsak’s well-struck free-kick took a slight deflection off the Portugal wall on 47 minutes.
The stage was set for Ronaldo.
The Real superstar made sure he would leave the Stade de Lyon with two records when he flicked his shot past Kiraly on 50 minutes to make it 2-2.
But Portugal’s second equaliser only served to galvanise Hungary’s resolve.
Dzsudzsak drilled a free-kick off the wall, but pounced on the rebound and his left-footed shot deflected off Nani, past Rui Patricio, into the far corner on 55 minutes for a 3-2 lead.
There was, however, no denying Ronaldo.
Just moments after coming on, Ricardo Queresma fired in a corner and Ronaldo drove his header past Kiraly on 62 minutes.
By now it was end-to-end stuff as Hungary’s attacking midfielder Akos Elek hit the woodwork on 64 minutes as it stayed 3-3 at the final whistle.
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Leap of Faith
Michael J Mazarr
Public Affairs
Dh67
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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Villains
Queens of the Stone Age
Matador
UAE currency: the story behind the money in your pockets
Pakistan squad
Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi
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SPECS
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MATCH INFO
Manchester City 1 (Gundogan 56')
Shakhtar Donetsk 1 (Solomon 69')
Short-term let permits explained
Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.
Tenants also require a letter of no objection from their landlord before being allowed to list the property.
There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.
Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.
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The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Founder: Ayman Badawi
Date started: Test product September 2016, paid launch January 2017
Based: Dubai, UAE
Sector: Software
Size: Seven employees
Funding: $170,000 in angel investment
Funders: friends
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
Meydan racecard:
6.30pm: Handicap | US$135,000 (Dirt) | 1,400 metres
7.05pm: Handicap | $135,000 (Turf) | 1,200m
7.40pm: Dubai Millennium Stakes | Group 3 | $200,000 (T) | 2,000m
8.15pm: UAE Oaks | Group 3 | $250,000 (D) | 1,900m
8.50pm: Zabeel Mile | Group 2 | $250,000 (T) | 1,600m
9.20pm: Handicap | $135,000 (T) | 1,600m