Gary Ablett is being tempted by the new Gold Coast club which is due to launch next year.
Gary Ablett is being tempted by the new Gold Coast club which is due to launch next year.

Cats face mounting woes off the park



A team starting their campaign to win back-to-back premierships in the AFL, starting today, could well do without the distractions Geelong face this year. The loss of Tom Harley, their inspiring captain and rugged defender, after the Cats took last year's flag was probably expected by teammates, and was a lot less troublesome than other issues.

For starters, the reigning Brownlow Medallist and accepted league champion Gary Ablett Jr has a fair bit on his mind. The midfielder Ablett, 25, has an unsigned dance card after this season, and his brother Nathan and an annual cheque for an estimated A$1.5 million (Dh5m) are waiting at the new Gold Coast club due to launch next year. The champion's focus on the team game and the responses of his teammates are sure to be under intense scrutiny this year, adding pressure to an already large enough task.

Then there is the sad tale of the forward Mathew Stokes in an off-season that was more like a gossip column. Stokes pulled out of the Cats' preliminary final meeting with the Western Bulldogs last year due to a groin injury. He could not force his way back in for the Grand Final. Early last month, Stokes was given bail after appearing on charges of possessing and trafficking cocaine. He has been stood down from the club until further notice and is due in court again next month.

The Cats begin their campaign for a fourth consecutive Grand Final appearance tomorrow against Essendon. The season begins today when Carlton - who have had their own share of disappointing news in the off season, including a riverboat ride that ended up with an impromptu underwear show in the lobby of a swank Melbourne Hotel - meet Richmond, who finished last year second from the bottom and have named Ben Cousins on the bench.

The Blues, without Chris Judd, their captain who is serving a three-week suspension carried over from last season, will hope for big things from Brock McLean, the former Melbourne midfielder, who is making his debut in the navy blue. St Kilda players have been lining up throughout the season to tell what they have learned from their disappointment at losing last year's Grand Final. The highly-favoured Sainters, last year's minor premier, begin their campaign for a second flag - the last being in 1966 - on Saturday against Sydney.

The Swans have snapped up veteran Brisbane spearhead Daniel Bradshaw and welcome back Tadhg Kennelly, the Irish def-ender who has fulfilled his dream of following his father in winning an All-Ireland Gaelic football title with Kerry. Also today Brisbane, who have picked up the troubled Blue forward Brendan Fevola to share the attack with their captain Jonathan Brown, take on West Coast at the Gabba.

@Email:pstafford@thenational.ae

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

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The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

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.”

Terminator: Dark Fate

Director: Tim Miller

Starring: Arnold Schwarzenegger, Linda Hamilton, Mackenzie Davis 

Rating: 3/5

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Under 19 World Cup

Group A: India, Japan, New Zealand, Sri Lanka

Group B: Australia, England, Nigeria, West Indies

Group C: Bangladesh, Pakistan, Scotland, Zimbabwe

Group D: Afghanistan, Canada, South Africa, UAE

 

UAE fixtures

Saturday, January 18, v Canada

Wednesday, January 22, v Afghanistan

Saturday, January 25, v South Africa

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Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5