LIVERPOOL // Jose Mourinho suffered his first defeat in his second coming as Chelsea manager as birthday boy Steven Naismith celebrated his first league start of the season in perfect fashion.
The Scotland international, who scored in the 2-1 defeat at Stamford Bridge on the final day of the season when he was last in a Premier League starting line-up, headed home the winner in first-half added time.
His goal also kick-started the Roberto Martinez era at Goodison Park after three successive draws had left the Spaniard with some convincing still to do. When asked if birthdays came any better, he told Sky Sports: “No, they don’t.
“At the start of the season competition for places is tough and unfortunately for [injured winger] Steven Pienaar it’s given the opportunity to myself and I was able to score and win the game.”
The former Rangers player said little had changed in the dressing room under new boss Roberto Martinez, who replaced David Moyes in the summer. “That’s definitely the same and I think that’s credit to the backroom staff who have shown the new boys what it means to play for Everton, and it carries on through,” he added.
Chelsea have hardly been pulling up trees like they did in Mourinho’s first spell in charge in 2004. Back then he began with four successive wins and did not taste defeat until his ninth outing in the league.
This time around it appears he is not so special with two victories, a draw and now this defeat.
The much-anticipated Premier League debut of Chelsea striker Samuel Eto’o did not go to plan for the 32 year old, who was outshone by Gareth Barry making his first appearance for Everton after his deadline-day loan move from Manchester City.
The England international, out of favour at City, brings a wealth of experience greater and different to that of his fellow 32-year-old, midfield partner Leon Osman.
And it may have been his first outing with his new teammates but Barry’s positioning, reading of the game and general calmness under pressure gives the Everton a first-rate shield in front of the back four.
The key moment in a game of plenty of energy, but fewer attacking chances came with 30 seconds of one added minute remaining when Osman crossed to the far post where Nikica Jelavic managed to keep the ball alive and Naismith, who had previously fired wastefully wide from Kevin Mirallas’ shot, bundled home a header from close range.
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Mark Hughes suggested Manchester City paid the price for taking Stoke too lightly after his side frustrated Manuel Pellegrini’s men at the Britannia Stadium.
Pellegrini was forced to settle for a goalless draw after a City side showing six changes failed to impose themselves.
Stoke even had the better of the game and went closest to scoring when Jonathan Walters headed a good chance wide and Joe Hart produced a good save to prevent a Matija Nastasic own goal.
Hughes, the Stoke manager, said: “I think we are disappointed we haven’t won, so that’s an illustration of how we feel the game went. City have got big games coming up, it is a busy period. Maybe they picked a team they felt could win against us, given the Champions League game in midweek.
“Maybe they prioritised the wrong game. That is the balance you have to make when you have got riches like Man City have. They didn’t quite get that right before the game. That probably helped us, looking at the team sheet.”
Hughes, who managed City between 2008 and 2009, is trying to change perceptions of Stoke as a physical and direct team and his influence was evident as they played the better football.
Hughes said: “In terms of chances created I thought we certainly had the better of those. It was probably the only thing missing from our performance, the ability to covert a chance.”
Pellegrini tried to paint the result in a positive light for City.
Since opening the season with a victory over Newcastle, City have been unconvincing but the Chilean said: “I am not disappointed but we didn’t have many chances to score. When you play away and you can’t win at least you must not lose.
“We have a complete back four out, [David] Silva out and we have the Champions League next Tuesday, so I think it is a good point for us.”
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Meanwhile, in other English Premier League action, Hatem Ben Arfa made the difference for Newcastle United, scoring a goal and creating another at Aston Villa. The winger, whose strike won the game at Fulham two weeks ago, swept home in the 18th minute. Christian Benteke equalised but Newcastle clinched victory when keeper Brad Guzan spilled a fizzing Ben Arfa shot and Yoan Gouffran fired home.
Gareth McAuley scored West Brom’s first goal of the Premier League season in stoppage time to earn a draw at Fulham. The home side had looked like ending a five-match winless streak at Craven Cottage following Steve Sidwell’s first-half strike but now the run is six since the April 1 win over QPR. Twice Dimitar Berbatov netted when offside before McAuley met Chris Brunt’s corner with an emphatic header in the first of six minutes of stoppage time.
Goals in either half from Curtis Davies and Peter Whittingham ensured two of the Premier League’s newcomers shared the spoils at the KC Stadium. It was a replay of the match that ensured Hull promotion on the final day of last season, but there was significantly less drama on show this time around. Davies headed home Tom Huddlestone’s cross in the 40th minute to give Hull their first goal from open play this season, with Whittingham levelling to cap a fine Cardiff move.
UAE currency: the story behind the money in your pockets
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
Naga
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
What went into the film
25 visual effects (VFX) studios
2,150 VFX shots in a film with 2,500 shots
1,000 VFX artists
3,000 technicians
10 Concept artists, 25 3D designers
New sound technology, named 4D SRL
ALRAWABI%20SCHOOL%20FOR%20GIRLS
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Top%2010%20most%20competitive%20economies
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SUZUME
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The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Who is Allegra Stratton?
- Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
- Took up a public relations role for Chancellor Rishi Sunak in April 2020
- In October 2020 she was hired to lead No 10’s planned daily televised press briefings
- The idea was later scrapped and she was appointed spokeswoman for Cop26
- Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
- She has strong connections to the Conservative establishment
- Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
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.”
ICC Awards for 2021
MEN
Cricketer of the Year – Shaheen Afridi (Pakistan)
T20 Cricketer of the Year – Mohammad Rizwan (Pakistan)
ODI Cricketer of the Year – Babar Azam (Pakistan)
Test Cricketer of the Year – Joe Root (England)
WOMEN
Cricketer of the Year – Smriti Mandhana (India)
ODI Cricketer of the Year – Lizelle Lee (South Africa)
T20 Cricketer of the Year – Tammy Beaumont (England)
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Company%20profile
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Killing of Qassem Suleimani
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
