This is a glorious time in Sunderland’s history – or at least it is if only two criteria are considered.
They are enjoying their second-longest spell in the top flight, even if it is rather overshadowed by a 68-year stay between 1890 and 1958. They have a record four consecutive wins in the Tyne-Wear derby against Newcastle.
In every other respect, it is a bleak time.
Sunderland have won only four league games all season. They have begun April with just six points in 2015. But Newcastle United have only taken nine. Even for two beleaguered clubs, it is rare they enter a derby in a state of such disrepair.
Both have stopgap managers, Sunderland appointing Dick Advocaat in a desperate attempt to avoid relegation and Newcastle leaving John Carver in charge as the cheap option until they plump for a permanent successor to Alan Pardew.
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Both have depleted, diminished teams. Newcastle captain Fabricio Coloccini and top scorer Papiss Cisse are both suspended for acts of reckless indiscipline, whether a senseless sending-off or a spit. They loaned out so many players in January’s cost-cutting that they cannot fill the back four with specialist defenders.
Since Advocaat’s arrival, Sunderland recalled their only fit winger, Adam Johnson, who had been suspended by the club after being arrested on suspicion of having sex with an underage girl.
Newcastle have acquired a reputation for under-funding the team, and their profits of £18 million (Dh98.6m), announced this week, riled supporters, but they may still be a better-run club than their local rivals.
Sunderland have a track record of spending generously, but poorly. Jermain Defoe was brought in on huge wages in January to deliver the goals that will keep them up. Sunderland have only scored once in seven games, and not through Defoe.
Underachievement is entrenched, and not just because these two clubs have gone 42 and 46 years respectively since winning a major trophy. The Stadium of Light will draw one of the biggest attendances anywhere in Europe this weekend. It is an indication of the football fixation in the area.
Interest used to be matched by influence. In his outstanding book Up There, Michael Walker traces the impact the north-east of England had in the national game. Three of the five Englishmen named Footballer of the Year between 1962 and 1967 came from the same town, Ashington. Between 1960 and 1990, 41 major trophies were won by managers who hailed from the region.
Eight of the players, and one manager, in the 1947 FA Cup final were from the north-east, even though the participating clubs were Charlton Athletic and Burnley.
Now? Sunderland could field the under-investigation Johnson, plus Lee Cattermole, who has completed a different suspension of his own for accumulating 10 bookings in predictably quick time. Newcastle should select the former Sunderland player Jack Colback, but he will probably be the only player produced by either club to start.
Exporters of talent have become unhappy importers. Over the season, Sunderland are the more miserable. Over the course of four dreadful derbies when they have been outscored 9-1, Newcastle have more to moan about.
One of football’s great fixtures has become the desperation derby.
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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
Copa del Rey
Barcelona v Real Madrid
Semi-final, first leg
Wednesday (midnight UAE)
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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.”
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UAE currency: the story behind the money in your pockets
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 specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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 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
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
OPINIONS ON PALESTINE & ISRAEL
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.
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
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