Emirati Matar Al Jabri is photographed with his camel Shaheen after it chooses Portugal as a winner at his camel farm in Al Marmoum in Dubai on June 8, 2014. Sarah Dea / The National
Emirati Matar Al Jabri is photographed with his camel Shaheen after it chooses Portugal as a winner at his camel farm in Al Marmoum in Dubai on June 8, 2014. Sarah Dea / The National

Paul the Octopus a hard act to follow; Maradona being Maradona; Ronaldo congratulates Klose



Flopping animal picks

Paul the Octopus is sadly missed. The National’s pair of World Cup-predicting camels are just two members of the animal kingdom having a rough time forecasting Brazil 2014. The camels were right on only one of four “predictions”, choosing the treat that indicated the Netherlands would defeat Spain, but missing on Croatia over Brazil, Portugal over Germany and England drawing with Uruguay. Other erring animals include Flopsy the Kangaroo in Australia, Mani the parakeet in Singapore, Madame Shiva the guinea pig in Switzerland, Pele the piranha in Britain and Big Head the turtle from Brazil. In 2010, Paul the German octopus had a series of accurate picks, including Spain over the Netherlands in the final, but the cephalopod died a few weeks after the tournament ended.

Messi Twitter explosion

Lionel Messi’s injury-time goal against Iran set off a social-media eruption. The Argentine striker’s curling shot inspired 256,024 Twitter comments per minute, one of the highest figures of the World Cup, the social network said. The high of 261,026 tweets per minute was set after Portugal’s defender Pepe was sent off for butting German striker Thomas Muller.

Maradona gesture

Diego Maradona made an obscene gesture on live TV yesterday aimed at Julio Grondona, the Argentine federation president. Grondona had suggested Argentina scored against Iran because “jinx” Maradona had left the stadium by then. While appearing on a Venezuela station, Maradona said: “Poor, stupid man. This is Messi’s merit, not because I left.”

Belgian camping mishap

Hundreds of Belgian fans were looking forward to a “luxury camping” trip to the World Cup, but they ended up in a muddy mess far from five-star treatment. About 500 people paid €150 (Dh750) a night, per person, for the privilege of sleeping in tents that lack electricity and the promised internet connection. The tourists at the “Belgian Village” at Recreio dos Bandeirantes, a coastal resort 40 kilometres west of Rio de Janeiro, also have contended with dirty showers and toilets, and have forwarded their complaints to a Dutch company operating the site.

Nigeria ends drought

Millions of Nigerians, including the president, Goodluck Jonathan, stayed up late on Saturday to celebrate after the African champions beat Bosnia to boost their chances of reaching the World Cup knockout rounds. Spontaneous victory parties broke out across the country after Nigeria ended a 16-year wait for a match win at a World Cup finals. Jonathan popped champagne with aides at the Aso Rock Villa in Abuja after the historic win.

Klose company

The former Brazil striker Ronaldo congratulated Miroslav Klose after the German equalled his record of 15 World Cup goals on Saturday. Klose, 36, came on in the second half against Ghana and scored the equaliser in a 2-2 draw. “Welcome to the club,” Ronaldo tweeted. “I can only imagine your happiness!!! What a great World Cup!!!” Ronaldo scored his goals in the 1998, 2002 and 2006 tournaments.

Fifa payments

Fifa has declined to comment on claims that annual payments were doubled for executive committee members after their bonuses were stopped. The Sunday Times of Britain reported that the 25 board members now get a US$200,000 (Dh735,000) stipend for their part-time duties. A Fifa spokeswoman yesterday said executive payments are decided by a panel created as part of Fifa reforms in 2011 after a series of financial and election scandals.

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Other promotions
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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.

Dirham Stretcher tips for having a baby in the UAE

Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:

• Buy second hand stuff

 They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.

• Get a health card and vaccinate your child for free at government health centres

 Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.

• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.

Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.

• Once baby is ready for solids, cook at home

Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.

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Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

The specs

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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
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

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.”

Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

Cry Macho

Director: Clint Eastwood

Stars: Clint Eastwood, Dwight Yoakam

Rating:**

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5