Frank Lampard said he was a "lucky man" after receiving a hero's welcome on his return to Chelsea as Derby County manager on Wednesday.
Chelsea, for whom Lampard is the all-time record goalscorer, eliminated his Derby side from the League Cup at Stamford Bridge - the 3-2 result enough to maintain Maurizio Sarri's unbeaten start since joining the Premier League club in the summer.
All five goals came in a helter-skelter first half, on a night when there were also fourth-round victories for Arsenal, Tottenham and Middlesbrough.
Two early defensive errors from Fikayo Tomori - on loan from Chelsea - and Richard Keogh either side of a Jack Marriott equaliser gave the home side a 2-1 lead.
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Undaunted, Lampard's side levelled shortly before the half-hour through Martyn Waghorn before Cesc Fabregas restored order for the Premier League high-flyers.
Lampard felt his side deserved a draw on chances created but said he was a "lucky man" to be able to enjoy such an occasion.
"The difference between the sides was they scored three ... actually we scored four didn't we? I joke because I'm proud," he told Sky Sports. "Talking to their staff, they're saying we're playing well.
"I respect this club, I don't have to talk about this club. I'm proud of my players."
The 40-year-old former England midfielder received a rapturous reception on his first return to Stamford Bridge as a manager, soaking up the atmosphere before kick-off.
Buoyed by his side's win on penalties at Old Trafford against his former Chelsea manager Jose Mourinho in the previous round, he was dismayed to witness the errors from his side, which made their task all the harder.
Timori sliced into his own net in the fifth minute, miscuing a clearance when attempting to deal with an innocuous-looking Davide Zappacosta cross.
Midway through the half, lightning struck twice when Keogh failed to deal with another Zappacosta delivery, haplessly steering the ball into his own net.
But the visitors played a full role in a frantic first half, looking sharp as they came forward and were back on level terms before Fabregas scored what turned out to be the decisive goal.
Keogh had a late chance to make amends for his earlier howler but Willy Caballero saved at close range and David Nugent hit the post in the 89th minute, leaving Lampard holding his head in his hands in frustration.
As former Chelsea and Leicester manager Claudio Ranieri looked on from the stands, there was a minute's applause before kick-off in tribute to Leicester City's late Thai owner Vichai Srivaddhanaprabha, killed in a helicopter crash on Saturday.
Ten-man Arsenal were made to sweat by League One Blackpool before eventually emerging 2-1 winners, with goals from Stefan Lichtsteiner and Emile Smith-Rowe.
Two goals from Son Heung-min and a strike from Fernando Llorente gave Tottenham a 3-1 win against West Ham United while Championship side Middlesbrough upset Premier league outfit Crystal Palace 1-0.
On Tuesday, Burton Albion and Bournemouth booked their places in the quarter-finals while Premier League leaders Manchester City play Fulham on Thursday.
The quarter-final draw pits Arsenal against Spurs, while Chelsea take on Bournemouth and Middlesbrough play Burton. Leicester or Southampton will play Manchester City or Fulham.
THE BIO
BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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.
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.”
Mohammed bin Zayed Majlis
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
THE BIO
Favourite holiday destination: Whenever I have any free time I always go back to see my family in Caltra, Galway, it’s the only place I can properly relax.
Favourite film: The Way, starring Martin Sheen. It’s about the Camino de Santiago walk from France to Spain.
Personal motto: If something’s meant for you it won’t pass you by.
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
RACE CARD
5pm: Maiden (PA) Dh80,000 1,400m
5.30pm: Maiden (PA) Dh80,000 1,200m
6pm: Arabian Triple Crown Round-1 (PA) Listed Dh230,000 1,600m
6.30pm: HH The President’s Cup (PA) Group 1 Dh2.5million 2,200m
7pm: HH The President’s Cup (TB) Listed Dh380,000 1,400m
7.30pm: Wathba Stallions Cup (PA) Handicap Dh70,000 1,200m.
Profile
Company: Libra Project
Based: Masdar City, ADGM, London and Delaware
Launch year: 2017
Size: A team of 12 with six employed full-time
Sector: Renewable energy
Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.
