ZURICH // Qatar will host the World Cup in 2022 after being chosen by football's ruling body yesterday as the first Middle Eastern country - and the smallest nation in history - to stage the event.
Amid scenes of great jubilation as the result was announced at a crowded exhibition centre in Zurich, the Gulf state was named ahead of the United States, Japan, Australia and South Korea.
The Qatari achievement was described as "a source of pride to all of us" by Sheikh Khalifa, President of the UAE, in a congratulatory call last night to Emir of Qatar, Sheikh Hamad bin Khalifa Al Thani.
Congratulations were also sent by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, who described Qatar's win as "a win to all Arab countries and to the Arab and Middle Eastern sport in general".
Russia won the bitterly contested battle to present the 2018 tournament, a result that brought deep disappointment to England, which was eliminated in the first round of voting by the 22-man panel of the Fédération Internationale de Football Association (Fifa).
In choosing two countries that had never before staged a World Cup, Fifa demonstrated a clear resolve to spread the game more widely, a desire mirrored in the short but emotional acceptance speech from Sheikh Mohammed bin Hamad Al Thani, president of the Qatar bid.
"Thank you for believing in change," he said. "Thank you for believing the expanding the game.
“Thank you for giving Qatar a chance. We will not let you down. You will be proud of us, proud of the Middle East.”
The winning bid, which won high praise for its professionalism and passion, had the support of influential figures from the international games, including Zinedine Zidane, the son of Algerian immigrants who grew up to captain France.
Qatar obtained the necessary outright majority in a fourth round of voting, securing 14 votes compared with eight cast in favour of the United States, seen as its greatest rival. But in each of the previous rounds, Qatar had also topped the poll, showing consistent support for its submission.
To win Fifa’s confidence, Qatar had to overcome doubts about the ability of a Gulf state to run a successful sporting event in summer.
Members of the executive committee appear to have been impressed by the promise of high-technology solutions to ensure temperatures were limited to 27°C degrees in all 12 stadiums – nine still to be built – and at training facilities.
After the 2002 tournament, some of the structures will be dismantled and reassembled in developing countries to create a lasting legacy.
Qatar was also the target of critics who suggested it had reached a voting pact with Spain and Portugal, bidders for 2018. The allegations have been strenuously denied, though Fifa has acknowledged that holding the two votes on the same day raises the risk of collusion, and will not be repeated.
The importance attached by Qatar to winning the vote was demonstrated by the decision of the Emir, Sheikh Hamad bin Khalifa Al Thani, his wife, Sheikha Mozah, and the prime minister and foreign minister, Sheikh Hamad bin Jassim bin Jabor Al Thani, to fly to Zurich to support the bid team.
By contrast, the striking absence from Switzerland of the Russian prime minister Vladimir Putin, did no harm to his country’s chances.
Some observers had suggested his decision to stay away and to complain about “unscrupulous competition” were signs that he feared his country’s bid was faltering.
In fact, even disheartened members of the England bid team agreed the Russian bid had been outstanding. “Congratulations to Russia – they had a fantastic bid,” said Alan Shearer, the former England captain, now a BBC pundit, though he added: “It’s hard to swallow.”
Some critics had pointed to Russia’s need to start almost from scratch in building infrastructure, but Mr Putin’s government turned this to advantage, emphasising the greater legacy that would be left. For England, the pain of defeat was aggravated by the humiliation of finishing last among the four.
Despite sending its so-called “three lions” – David Cameron, the prime minister; Prince William, second in line to the English throne and David Beckham, the country’s best-known face of football – England obtained the support of only two Fifa executive committee members.
Russia received nine votes in the first round and, with England eliminated, 13 in round two, with Spain/Portugal attracting seven votes and the Netherlands/Belgium two.
England cannot now hope to host a World Cup before 2030 – which would be 64 years since it last did so – and the inquest has already started. Many fans blame the media for running stories alleging corrupt practices within Fifa, and the quality of national football administrators has also been called into question.
But even before the celebrations got under way in Doha and Moscow, one England supporter following events on the BBC website offered – an hour before the announcement – another view: “As much as I’d love to see it here, if Fifa wants to prove this is a global game and have a lasting effect worldwide, Russia and Qatar should be the hosts. It’s the World Cup, let’s take it around the world.”
Also: Emir thanks Fifa for 'believing in change'
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Match info
Huddersfield Town 0
Chelsea 3
Kante (34'), Jorginho (45' pen), Pedro (80')
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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.”
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Kanye%20West
%3Cp%3EYe%20%E2%80%94%20the%20rapper%20formerly%20known%20as%20Kanye%20West%20%E2%80%94%20has%20seen%20his%20net%20worth%20fall%20to%20%24400%20million%20in%20recent%20weeks.%20That%E2%80%99s%20a%20precipitous%20drop%20from%20Bloomberg%E2%80%99s%20estimates%20of%20%246.8%20billion%20at%20the%20end%20of%202021.%3Cbr%3EYe%E2%80%99s%20wealth%20plunged%20after%20business%20partners%2C%20including%20Adidas%2C%20severed%20ties%20with%20him%20on%20the%20back%20of%20anti-Semitic%20remarks%20earlier%20this%20year.%3Cbr%3EWest%E2%80%99s%20present%20net%20worth%20derives%20from%20cash%2C%20his%20music%2C%20real%20estate%20and%20a%20stake%20in%20former%20wife%20Kim%20Kardashian%E2%80%99s%20shapewear%20firm%2C%20Skims.%3C%2Fp%3E%0A
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
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If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).
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Not Dark Yet
Shelby Lynne and Allison Moorer
Four stars
MATCH DETAILS
Liverpool 2
Wijnaldum (14), Oxlade-Chamberlain (52)
Genk 1
Samatta (40)
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Fighter profiles
Gabrieli Pessanha (Brazil)
Reigning Abu Dhabi World Pro champion in the 95kg division, virtually unbeatable in her weight class. Known for her pressure game but also dangerous with her back on the mat.
Nathiely de Jesus, 23, (Brazil)
Two-time World Pro champion renowned for her aggressive game. She is tall and most feared by her opponents for both her triangles and arm-bar attacks.
Thamara Ferreira, 24, (Brazil)
Since her brown belt days, Ferreira has been dominating the 70kg, in both the World Pro and the Grand Slams. With a very aggressive game.
Samantha Cook, 32, (Britain)
One of the biggest talents coming out of Europe in recent times. She is known for a highly technical game and bringing her A game to the table as always.
Kendall Reusing, 22, (USA)
Another young gun ready to explode in the big leagues. The Californian resident is a powerhouse in the -95kg division. Her duels with Pessanha have been highlights in the Grand Slams.
Martina Gramenius, 32, (Sweden)
Already a two-time Grand Slam champion in the current season. Gramenius won golds in the 70kg, in both in Moscow and Tokyo, to earn a spot in the inaugural Queen of Mats.
About RuPay
A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank
RuPay process payments between banks and merchants for purchases made with credit or debit cards
It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.
In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments
The name blends two words rupee and payment
Some advantages of the network include lower processing fees and transaction costs