Edin Dzeko, right, scored twice for Manchester City on Tuesday. Peter Powell / EPA / March 25, 2014
Edin Dzeko, right, scored twice for Manchester City on Tuesday. Peter Powell / EPA / March 25, 2014

‘We know we can score lots’ says Pellegrini after City rout United



Edin Dzeko scored twice as Manchester City heaped more misery on Manchester United with a 3-0 victory on Tuesday to move to within three points of Premier League leaders Chelsea with two games in hand.

Dzeko needed just 43 seconds to give City the lead in a Manchester derby at United’s Old Trafford ground.

Rafael’s last-ditch tackle blocked David Silva’s run into the box but Samir Nasri hit the post and Dzeko followed up to side-foot in the rebound.

The Bosnian striker was on target again in the 56th minute when he dropped marker Rio Ferdinand to volley in Nasri’s corner,

Yaya Toure rubbed salt into United’s wounds with a third goal in the 90th minute as Manuel Pellegrini’s men, now second in the table, completed a derby double following a 4-1 win over United at Eastlands in September.

It was yet another night to forget for United boss David Moyes, in his first season in charge of the fading English champions following the retirement of Sir Alex Ferguson, British football’s most successful manager.

This result left United 12 points off the top four and effectively needing to win this season’s Champions League, where they face holders Bayern Munich in the quarter-finals, in order to qualify for a place among Europe’s elite next term.

“We didn’t start the game well,” Moyes told Sky Sports. “They were very good but we grew into the game and up into the second goal we had a fighting chance.

“I think we have played a very good side, playing at the sort of level we are aspiring to. We need to come up a couple of levels ourselves because at the moment we are not there.”

By contrast, City manager Pellegrini said: “We know we can score lots of goals. We were very compact and worked completely in attacking and defending.

“We are a very balanced team at the moment.”

Arsenal, fresh from the humiliation of being thrashed 6-0 by Chelsea in manager Arsene Wenger’s 1,000th game in charge last weekend, were held to a 2-2 draw by struggling Swansea at the Emirates Stadium.

Wilfried Bony headed in Neil Taylor’s cross to give the Swans an 11th minute lead in north London.

But two goals in as many many minutes midway through the second half turned the match on its head.

Kieran Gibbs, cleared to pay after being incorrectly sent off in place of Alex Oxlade-Chamberlain against Chelsea, provided the cross from which Lukas Podolski’s volley drew Arsenal level in the 73rd minute.

And from the kick-off the onrushing Podolski turned provider, his cross turned in by Olivier Giroud to the delight of the Arsenal faithful.

But there was a twist in the tale when, in the final minute of normal time, Leon Britton’s shot ricocheted off Wojciech Szczesny and rebounded off Mathieu Flamini for a comical own-goal equaliser.

“It’s difficult to swallow because the team gave absolutely everything tonight, their spirit was great,” Wenger said.

Tuesday’s other top-flight clash saw Everton continue their push for European football next season with a 3-0 win away to Newcastle as they leapfrogged Tottenham into fifth spot and closed to within six points of fourth-placed Arsenal with a game in hand.

Ross Barkley put the Merseysiders ahead in the 22nd minute at St James’ Park when he ran unchallenged from inside his own half and into the Newcastle box before beating Fabricio Coloccini and blasting the ball into the top corner.

They went up 2-0 up when Romelu Lukaku, found by Gerard Deulofeu, finished from close range in the 52nd minute.

Leon Osman sealed victory for Roberto Martinez’s men three minutes from time.

Liverpool will move to within a point of Chelsea, having also played 31 games, if they win at home to Sunderland on Wednesday while West Ham and Hull meet at Upton Park.

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RESULTS
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Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

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UAE squad

Men's draw: Victor Scvortov and Khalifa Al Hosani, (both 73 kilograms), Sergiu Toma and Mihail Marchitan (90kg), Ivan Remarenco (100kg), Ahmed Al Naqbi (60kg), Musabah Al Shamsi and Ahmed Al Hosani (66kg)

Women’s draw: Maitha Al Neyadi (57kg)

 

 

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.”

Where can I submit a sample?

Volunteers can now submit DNA samples at a number of centres across Abu Dhabi. The programme is open to all ages.

Collection centres in Abu Dhabi include:

  • Abu Dhabi National Exhibition Centre (ADNEC)
  • Biogenix Labs in Masdar City
  • Al Towayya in Al Ain
  • NMC Royal Hospital in Khalifa City
  • Bareen International Hospital
  • NMC Specialty Hospital, Al Ain
  • NMC Royal Medical Centre - Abu Dhabi
  • NMC Royal Women’s Hospital.

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