The most trouble-plagued World Cup in history kicks off on Thursday with Brazilian organisers hoping for a carnival but bracing for chaos after a torrid build-up underscored by public anger at the tournament’s multi-billion-dollar price tag.
A four-week feast of football in the spiritual homeland of the sport gets under way in the seething mega-city of Sao Paulo, where host nation Brazil face Croatia at 5pm local time (midnight UAE).
The start of the four-yearly extravaganza is the acid test for organisers and football’s governing body Fifa, who have been scrambling to get Brazil ready for the biggest event in sport outside of the Olympics.
The first of 64 matches which culminate with the July 13 final in Rio de Janeiro will be staged in the Arena Corinthians, a venue which has become emblematic of a build-up besieged by setbacks.
Construction of the $424 million (Dh1.55b) venue ground to a halt in November when a giant crane toppled over and killed two workers. A third labourer died in an accident in March. In total eight workers have died while racing to complete World Cup-related projects.
The 61,600-capacity arena is one of 12 World Cup stadiums that were due to be ready by the end of December. Six missed the initial deadline, with final delivery to Fifa eventually coming in late May.
Only this week, workers could be seen busily wiping seats, checking beams and installing wiring just days before the opener, which will be attended by 12 heads of state, United Nations Secretary General Ban Ki-Moon and assorted VIPs.
Yet Fifa officials are bullishly backing Brazil, with President Sepp Blatter, under-fire over corruption allegations rocking the global governing body, confident the country will unite behind the tournament.
“We at Fifa, we are confident, it will be a celebration,” said Blatter. “After the tournament kicks off I think there will be a better mood.”
But the spectre of social unrest and transport chaos looms large.
A strike by Sao Paulo subway workers demanding better pay last week brought the city to a standstill, and led to baton-wielding riot police firing teargas to break up protesters before the walkout was suspended on Monday.
Union leaders have threatened to resume the strike during the tournament if their demands are not met. On Tuesday, subway workers in Rio de Janeiro, which hosts seven games including the final, threatened similar action.
Authorities are nervously eyeing the possibility of a repeat of nationwide protests that exploded around the Fifa Confederations Cup last year.
The estimated $11 billion Brazil is spending on the tournament has angered many in a country grappling with chronically under-funded health and public services, poor transport and violent crime.
The rapid spread of last year’s protests caught Brazilian authorities off-guard, and a massive security blanket will be draped across the World Cup in an effort to avoid a repeat of the clashes.
Around 150,000 police and soldiers and some 20,000 private security officers will be deployed across the 12 host venues to counter protesters whose slogan is “the Cup will not take place.”
Protests have flared intermittently since last year.
In April, Rio’s famous Copacabana district witnessed violent clashes after residents of a nearby favela accused police of shooting dead a man from their neighbourhood.
Brazil’s leftist leader Dilma Rousseff has hit out at what she described as a “systematic campaign” against the tournament.
“Brazil is ready on and off the pitch,” she said in a televised address late Tuesday.
“The pessimists ... have been defeated by the hard work and determination of the Brazilian people, who never give up.”
But resentment at the vast amounts lavished on the tournament – Brazil is believed to be the most expensive World Cup in history – remains.
Brazil’s footballers themselves were targeted by striking teachers as they set off for their training camp outside Rio last month.
“An educator is worth more than Neymar,” teachers chanted, referring to the team’s star striker.
Despite the off-field problems, the tournament itself promises to be a classic.
From dramatic backdrops such as Rio de Janeiro’s famed Sugarloaf Mountain to Manaus in the heart of the Amazon, the World Cup promises to showcase the vast diversity of Brazil.
Defending champions Spain are bidding to make history by becoming the first side from Europe to win a World Cup in South America.
Vicente del Bosque’s side have dominated international football for the past six years, winning two consecutive European championships either side of their memorable triumph at the 2010 World Cup.
Brazil, chasing a record sixth World Cup, host the tournament for the first time since their loss to Uruguay in the climax of the 1950 finals, when their neighbours inflicted a defeat which became a national trauma.
Brazil will look to the skills of striker Neymar – player of the tournament at the Confederations Cup last year – to provide the attacking flair.
If Neymar shines, the tournament could become a duel between him and his Barcelona teammate, Lionel Messi.
The Argentine maestro has had a quiet year by his standards, losing his Fifa Ballon d’Or crown to Portugal’s Cristiano Ronaldo, in an injury-hit season.
But Messi has excelled in the famous blue-and-white shirt since being handed the captaincy by coach Alejandro Sabella, and will be aiming to erase the memory of a disappointing 2010 tournament.
Argentina and Brazil could meet in the July 13 final at the refurbished Maracana Stadium, if the European challenge led by Spain falters.
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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.”
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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5pm: Baynunah Conditions (UAE bred) Dh80,000 1,400m.
Winner: Al Tiryaq, Dane O’Neill (jockey), Abdullah Al Hammadi (trainer).
5.30pm: Al Zahra Handicap (rated 0-45) Dh 80,000 1,400m:
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7pm: Al Khubairah Handicap (TB) 100,000 2,200m.
Winner: Empoli, Pat Dobbs, Doug Watson.
7.30pm: Wathba Stallions Cup Handicap Dh80,000 2,200m.
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COMPANY%20PROFILE
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Omar Yabroudi's factfile
Born: October 20, 1989, Sharjah
Education: Bachelor of Science and Football, Liverpool John Moores University
2010: Accrington Stanley FC, internship
2010-2012: Crystal Palace, performance analyst with U-18 academy
2012-2015: Barnet FC, first-team performance analyst/head of recruitment
2015-2017: Nottingham Forest, head of recruitment
2018-present: Crystal Palace, player recruitment manager
MATCH INFO
Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')
Man of the match Son Heung-min (Tottenham)
