Arsenal manager Mikel Arteta believes the "team is back to its best" after easing past rivals Chelsea on Tuesday night to return to the top of the Premier League.
Arsenal blew hapless Chelsea away inside the first 34 minutes at the Emirates Stadium, captain Martin Odegaard scoring twice before striker Gabriel Jesus made it 3-0. Noni Madueke pulled one back for the visitors in the second half but victory had long appeared assured for the Gunners.
The victory moves Arsenal back to the league summit by two points, although second-placed Manchester City have two games in hand and can reclaim top spot with a win at home against West Ham United on Thursday night.
In addition to three valuable points, the result saw Arsenal end a run of four games without a win as three successive draws and a heavy defeat last time out to City handed Pep Guardiola's side the advantage in the title race.
“We wanted to have a very different approach to the game, and we did it right from the beginning,” Arteta said. “The team is back to its best. There was a lot of energy, determination, quality, movement, and we were really going for it. We connected with our crowd straight away, we scored two magnificent goals, got control of the game and fully deserved to win.
“We wanted to prove we had that fire in the belly. I could see that in the last few days, and we prepared the game well. Mentally we arrived in the right mood and with the right level of energy. Everything went for us as well, which is important.
“We’ve had a couple of difficult weeks with very different games with a lot of emotions involved. Today we’re back to the top of the league – let’s see what happens.”
Arteta reserved special praise for Odegaard following his brace which took the Norwegian midfielder's Premier League tally to 14 goals for the season.
Arsenal v Chelsea player ratings
Odegaard, 24, struggled under the weight of expectation following his highly-publicised move to Real Madrid as a 16-year-old but has been a revelation at Arsenal since an initial loan move for the second half of the 2020/21 season. His performances have hit an entirely new level this season, having been handed the captain's armband, and Arteta is convinced there is even more to come from the Norway international.
“We don’t know what the limits of the players are,” Arteta said. ”When you have a player of his quality and his eagerness to learn every single day, he accepts that there are areas he can still improve a lot.
“He is constantly working on them, and in the end you get rewarded. That’s credit to him.”
Granit Xhaka has starred alongside Odegaard in the Arsenal midfield this season and assisted his captain for the opening goal.
The Switzerland international has certainly repaired his fractured relationship with the club and its fans, which reached its nadir in November 2019 when he was stripped of the captaincy after making lewd gestures and comments at fans following a substitution.
Having previously appeared destined for the exit, Xhaka has established himself as a key player under Arteta, and the 30-year-old midfielder said he was pleased with Arsenal's reaction following the defeat to City.
“We wanted to show a big reaction today, I think we did for 60 minutes,” he said. “It was a very good game and in the end, we deserved to win.
“We wanted to start with a lot of energy, and I think the first 45 minutes were nearly perfect. In the second half, we wanted to come out with a fourth and fifth [goal] as well. We were a bit disappointed with that but in the end, the three points are the most important thing.
“As a team, we put in a good effort today after the four games we didn’t win, and I think we needed the three points. It was very important.
“We needed a reaction for the fans, for ourselves as well to come back with confidence and hopefully we can continue like this for the next four games.”
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.”
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What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
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