Al Ain celebrate as they score the winning goal against Al Nasr at their Arabian Gulf League match. Jeffrey E Biteng / The National
Al Ain celebrate as they score the winning goal against Al Nasr at their Arabian Gulf League match. Jeffrey E Biteng / The National

Shalke and Eintracht Frankfurt in frame to play at opening of Al Ain’s new stadium



ABU DHABI // With Manchester City held to a draw by Blackburn Rovers in the FA Cup on the weekend, officials at Al Ain are looking for another European side to be part of several days of ceremonies celebrating the opening of the city’s new Hazza bin Zayed Stadium.

A dream match between the English Premier League giants and Al Ain was the desired way to kick off the new stadium but City must stay home for an FA Cup third-round replay in Manchester on January 14 or 15, which leaves the Sheikh Mansour bin Zayed-owned team out of consideration for the trip to the UAE.

Two top-flight German clubs, Schalke and Eintracht Frankfurt, will be in Abu Dhabi on the weekend during the Bundesliga’s winter break to play a friendly at Al Wahda’s stadium and one of them could step in against Al Ain three days later.

“There’s nothing confirmed as of now,” said Khalid Mustafa, Al Ain’s public relations chief said yesterday. “I cannot comment on whom we will play. We’re looking for a team to play on the 14th; let’s see if we can find an opponent, but so far nothing.

“I cannot say if we are playing Schalke or Frankfurt, because we have not received any confirmations or agreements.”

Neither Schalke, who are in the last 16 of the Uefa Champions League, nor Frankfurt could be reached for comment.

Hamburg and Dutch team Vitesse Arnhem are also in the UAE for winter training and could be candidates to play in Al Ain.

“It’s unfortunate that the Man City game got cancelled, but we are looking at a couple of teams to play but I cannot give any names because there is nothing to give,” said Abdullah Saleh, an Al Ain official.

The European and Club World Cup champions Bayern Munich are in Doha for their winter camp and would represent the most prominent club opposition possible.

sports@thenational.ae

Continental champions

Best Asian Player: Massaki Todokoro (Japan)

Best European Player: Adam Wardzinski (Poland)

Best North & Central American Player: DJ Jackson (United States)

Best African Player: Walter Dos Santos (Angola)

Best Oceanian Player: Lee Ting (Australia)

Best South American Player: Gabriel De Sousa (Brazil)

Best Asian Federation: Saudi Jiu-Jitsu Federation

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Duterte Harry: Fire and Fury in the Philippines
Jonathan Miller, Scribe Publications

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What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
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  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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 

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.”

NINE WINLESS GAMES

Arsenal 2-2 Crystal Palace (Oct 27, PL)

Liverpool 5-5 Arsenal  (Oct 30, EFL)

Arsenal 1-1 Wolves (Nov 02, PL)

Vitoria Guimaraes 1-1 Arsenal  (Nov 6, Europa)

Leicester 2-0 Arsenal (Nov 9, PL)

Arsenal 2-2 Southampton (Nov 23, PL)

Arsenal 1-2 Eintracht Frankfurt (Nov 28, Europa)

Norwich 2-2 Arsenal (Dec 01, PL)

Arsenal 1-2 Brighton (Dec 05, PL)

The story in numbers

18

This is how many recognised sects Lebanon is home to, along with about four million citizens

450,000

More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps

1.5 million

There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m

73

The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association

18,000

The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme

77,400

The number of people believed to be affected by the current nationality law, according to the 2009 UN study

4,926

This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee

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The specs

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