For Italian fans in the UAE, ‘the ball is round’



ABU DHABI // Fernando Stile considers himself lucky — he is, after all, Italian.
His country's national team lies behind only Brazil in terms of World Cup wins, with the Azzurri having four tournament triumphs in 1934, 1938, 1982 and 2006.
"In Italy, we are just sick [for] football," he said.
Mr Stile, who has worked as a factory manager in Abu Dhabi Industrial City for three years, also plays the game recreationally himself, three times per week.
This year is a far cry from 2010, when Italy finished last its group, behind Paraguay, Slovakia and even New Zealand.
In Brazil, the team is a favourite to progress through the first stage in 2014, despite being drawn in a tough group with Uruguay, Costa Rica and England. Although beating England 2-1 put them off to a good start.
"We will at least make the semi-final round," said Mr Stile, 36. "I'm optimistic."
But even he, like other Italians, admits a World Cup victory is unlikely for the team this year, with the likes of Spain, Argentina, Germany and, especially with their home advantage, Brazil to beat.
"The Brazilians will be very excited to win their seventh cup," he said. "So let's see."
Corrado Sommariva, from Genoa, said he hopes this year will prove better than Italy's previous showing because of its new coach, Cesare Prandelli. Mr Prandelli is humble, unlike his predecessor Marcello Lippi.
"To do worse than what we did in 2010 is really difficult. But we have a challenging initial group," said Mr Sommariva, 52, who manages a consultancy company in Abu Dhabi, where he has lived for the past 20 years.
The new coach has brought harmony back to the team, he said.
"We have a lot of good players, but a few primadonnas," said Mr Sommariva.
Mr Stile favours players from Naples, where he is from, such as 22-year-old winger Lorenzo Insigne, who plays his club football for Napoli.
Another fan, Giuseppe Izzo, sees star players such as midfielder Andrea Pirlo and striker Mario Balotelli as the team's likely match winners. But he believes Italy will probably fall short against the other big names.
"I don't think that we are on par with other nations like Spain, Brazil or even Argentina, who are a little bit better, even on an individual level," said Mr Izzo, 50, a manager at a communications company who has lived in the UAE seven years with his family.
His whole family loves football — he took his three sons, ages 4, 8 and 12, to the Al Ain–Manchester City friendly in May.
Although Italy may be somewhat unfavoured, Izzo believes the team performs better when they are less burdened by expectations.
"The last two times we won, 1982 and 2006, we were not among the top-ranked teams," he said.
If the team get through the first round, they could be returning home with their fifth trophy in hand, said Mr Izzo. "It all depends on how we start."
The Italians typically favour defence, focussing on the counter-attacks and saving their energy in the beginning.
"Germany are always attacking, attacking, attacking," said Mr Izzo. "You have to be very careful when using your energy."
The beauty of football is that a single player can make a huge difference with a moment of magic, he said.
"In Italy, we say the ball is round — a little bit of luck, the motivation of the team, and the whole scenario can change," said Mr Izzo.
lcarroll@thenational.ae

Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
  • Stay invested: Time in the market, not timing the market, is critical to long-term gains.
  • Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
  • Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
 
 
Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

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 avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
The Africa Institute 101

Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction. 

%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months
THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now