TOKYO // Tokyo braced itself for the ominously named Typhoon Lionrock on Tuesday, but in the end it never came, instead drifting north of the country and back off towards Russia.
That seemed especially apt given the UAE national team prepared to hit the Japanese capital too, the first stop of this extended journey they hope will eventually reach the same final destination in June 2018.
Weather forecasters had dominated the local news, predicting 120-mph gusts as the typhoon, already past its peak power, made landfall through the afternoon, bringing with it torrential rain and an all-too-familiar feeling. This was to be the third tropical storm to buffet Japan in the past nine days.
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As it was, Tokyo carried on as usual for the most part, this turbulent and tempting metropolis still buzzing with everyday life. There was hum of anticipation for the impending 2018 World Cup qualifying clash between Japan and the UAE, which takes place in nearby Saitama on Thursday.
The hosts have arrived, their collection of European-based stars finally here, so children donned Japan scarves, while a local eatery close to the Tokyo Dome, home of the country’s great sporting passion, baseball, advertised tables for those unfortunate enough not to own a ticket.
In a city of 13.5 million inhabitants, plenty will miss out. Football fans were informed as much early in the day by the Japanese Football Association, who used social media to declare the match, staged at the 63,700-capacity Saitama Stadium 2002, a sell-out.
The UAE will no doubt play their part. A technical fault with their plane delayed their arrival from Shanghai, where they spent 12 days training, but they still took to the pitch at the Japanese Sports Council to blow off any cobwebs. The evening consisted of running and stretching - ball-work was minimal - in full view of the ever-eager Japanese press.
The Emiratis appeared somewhat subdued, but it was more intense focus than big-game tension.
They will hope to bring their own storm when the road to Russia resumes in two days’ time.
jmcauley@thenational.ae
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Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
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- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
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Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
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Tottenham 1
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Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
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Delhi Daredevils 174-4 (20 ovs)
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Delhi won the match by 11 runs
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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THE LOWDOWN
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Produced by: Poetic License Motion Pictures; RSVP Movies
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Tailors and retailers miss out on back-to-school rush
Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”
A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.
“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”
German intelligence warnings
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- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
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Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)
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New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
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New Zealand 74 (2) beat England 55 (2)
Syria squad
Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
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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.”