The Liverpool fans will hope Steven Gerrard can be fit in less than a week.
The Liverpool fans will hope Steven Gerrard can be fit in less than a week.

Liverpool sweat on Gerrard



LIVERPOOL // The Liverpool manager Rafa Benitez is hopeful Steven Gerrard will be out for no more than a week after the Reds captain picked up a thigh strain. The England midfielder suffered the injury during Tuesday's 4-1 victory over Norwegian side Valerenga and could now miss next week's Champions League qualifier against Standard Liege.

Gerrard limped off in the first half of Liverpool's comfortable win and Benitez hopes he will recover in time to face the Belgians, but he cannot yet be inked in for the game. "It is a thigh strain. We need to wait but it could be one week," Benitez said. Liverpool would not want to take any risks with Gerrard. However, his presence against Liege would be welcome as the Reds attempt to take a big stride towards the group stages.

Goals from Fernando Torres, Xabi Alonso, David Ngog and Yossi Benayoun carried Liverpool to a comfortable victory against thrashed Rangers 4-0 at Ibrox. Benitez said: "It was another good work out. It was a good game, with four goals for us and good play. "But the players aren't 100 per cent yet - that would be difficult right now. The other team were fitter than us but you could see we were passing, pressing and the understanding between the players was better. I am really pleased with the result.

"Normally when you have quality, when you are playing well and creating chances, you will score goals." Liverpool's next opponents will be Lazio, who visit Anfield tomorrow in a match Gerrard appears sure to miss. However Benitez is optimistic about the talent emerging at Anfield, and has hailed his scouting network for finding players such as 19-year-old Ngog, the summer recruit from Paris St Germain.

"They are finding players like Ngog, players with quality who are not a high price," said Benitez. Meanwhile, Blackburn have signed the younger brother of Paraguay international striker Roque Santa Cruz. Rovers have signed Julio, 18, on a three-year deal subject to international clearance. The former Chelsea player Claude Makelele is struggling to make Paris St Germain's Ligue 1 opener against Monaco this weekend.

The former France midfielder, a free-transfer signing from Chelsea this summer, has been nursing an injury to his right thigh. It forced him to miss PSG's 3-0 win over Qatari side Al Khor in a behind-closed-doors friendly yesterday, and he is unlikely to be back for the clash against Monaco at the Stade Louis II on Saturday. Ludovic Giuly, another summer recruit, has also been hampered by an injury (ankle) but he came on as a substitute against Al Khor and scored the third goal.

The winger should be thrust into the starting line-up for the Monaco game. Striker Guillaume Hourau scored the other two goals after he came on as a substitute. * PA Sport

Drivers’ championship standings after Singapore:

1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68

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.”

COMPANY%20PROFILE%20
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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

THE DEALS

Hamilton $60m x 2 = $120m

Vettel $45m x 2 = $90m

Ricciardo $35m x 2 = $70m

Verstappen $55m x 3 = $165m

Leclerc $20m x 2 = $40m

TOTAL $485m

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 

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800

The Kingfisher Secret
Anonymous, Penguin Books

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.

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Schedule
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The specs

Engine: 2.0-litre 4-cyl turbo

Power: 247hp at 6,500rpm

Torque: 370Nm from 1,500-3,500rpm

Transmission: 10-speed auto

Fuel consumption: 7.8L/100km

Price: from Dh94,900

On sale: now

The%20specs
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In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
UAE currency: the story behind the money in your pockets
NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5