The Tottenham captain Jonathan Woodgate has a word with the under-fire referee Steve Tanner during the match at the Hawthorns.
The Tottenham captain Jonathan Woodgate has a word with the under-fire referee Steve Tanner during the match at the Hawthorns.

Redknapp's fury at referee



LONDON // The Tottenham manager Harry Redknapp is likely to hear from the Football Association over the coming days after his scathing comments about the referee Steve Tanner. A furious Redknapp laid into the East Sussex official after his 10-man side's late 2-0 defeat at West Brom, their fourth successive Premier League match without a win. The Spurs boss felt Roman Bednar's 83rd-minute headed opener should have been disallowed for a push on Michael Dawson by the striker. Craig Beattie added the second in injury time.

He was also incensed some of the treatment received by Darren Bent did not warrant greater punishment and he laid the blame firmly at Tanner's door. "I couldn't even put into words what I thought of his performance," said Redknapp. "When I walked into the referees' room before the game and saw who was in charge of the game I knew what was coming. "I expected that [performance] and it didn't surprise me at all. I've had him many times before and I know what he is like ? he really isn't good enough. "He is just a poor referee, unfortunately, and I've seen him make a mess of so many games before. "I saw him when I was in the Championship and I thought to myself then 'Where has he come from?'. "I never walk in after games and complain about a referee but this guy is scary. "What can you do? Someone thinks he is good enough but he is definitely not."

Oddly, Redknapp thought the referee was right to dismiss Benoit Assou-Ekotto for an over-the-top tackle on Gianni Zuiverloon in the 35th minute. "I thought it was a sending off. I thought he turned his back, he put his foot in and I could see why he sent him off," he added. The West Brom manager Tony Mowbray was, understandably, reluctant to criticise the official after his side's victory. "I have no comment on the referee. Some games as a coach you sit there and have thoughts but I've not been as brave as Harry and said anything," he said. "We agree with some decisions, we don't agree with others. Some of them are crucial decisions and some are niggly little fouls. "The bottom line is you hope to get the big ones right. I was very surprised when a red card was given but the referee saw it was and you have to live with that. "But if I thought there was a push [on Dawson] I would be sitting here saying I thought we got away with it but I didn't see any push." *PA Sport

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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.”

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Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Checks continue

A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.

Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.

Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.