Two North Koreans fail doping tests at women's world cup



BERLIN // Two North Korean players have been provisionally suspended after failing doping tests at the women's World Cup, soccer's world governing body Fifa said.

Fifa named the players as Jong Sun Song and Sim Pok Jong and said the ban took effect before Wednesday's match against Colombia.

Fifa said it had received the results of the tests, taken after the team's previous games, on Wednesday morning.

Fifa added that under anti-doping regulations, the whole North Korea team was subjected to a doping test after Wednesday's game which ended 0-0.

"The target testing of the entire North Korea team was coordinated with (world anti-doping agency) WADA," soccer's governing body said in a statement.

On Tuesday, Fifa announced that Colombia goalkeeper Yineth Varon had been suspended after failing an out-of-competition doping test conducted in Leverkusen on June 25.

Colombia and North Korea failed to score a goal between them as they went out in the first round.

Fifa said neither North Korea nor the players had requested analysis of the 'B' samples from their tests, although this would be conducted in any case.

"Fifa would like to emphasise once again its determination to keep football free of doping," it said.

"It is Fifa's duty and will to protect players from harm and ensure that footballers can compete on an even playing field.

"Fifa's anti-doping strategy relies on education and prevention, as well as on respect for the dignity and privacy of each player who is subject to testing."

The statement added: "Fifa bases any decisions related to its anti-doping programme on the specifics of the game, scientific evidence and analysis of validated doping statistics.

"Fifa's determination to fight doping is demonstrated by stringent doping control regulations, ongoing data collection and the support of evidence-based research."

Germany, Japan, Sweden, Australia, Brazil, the United States, England and France have qualified for the women's World Cup quarter-finals.

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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
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Middleweight:
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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.”