Mats Hummels headed Germany to a 1-0 victory over old rivals France on Friday to take his country to the World Cup semi-finals for a record fourth straight time.
The centre-back’s powerful 13th-minute header decided the nervy encounter between two sides who have traditionally produced sensational matches.
“The next dream has come true,” beamed Hummels, who said he hopes Germany return to Rio de Janeiro’s Maracana for the final on July 13.
“It’s unbelievable that it’s all going so well for us here at the World Cup.
Click here to visit The National’s World Cup 2014 landing page
“I hope that our journey won’t end soon and that we can make it back to compete here week next Sunday.”
Hummels also blocked a late strike by Karim Benzema in a man-of-the-match performance.
“Germany were on a higher level today,” said a disconsolate French manager Didier Deschamps, who suffered his first defeat in 11 World Cup games as either a player or coach.
Germany now face either Brazil or Colombia in Tuesday’s semi-final at Belo Horizonte.
The Germans produced a polished, improved display on their extra-time win over Algeria in the last-16, to constantly frustrate France’s potent attack spearheaded by Benzema.
This is the 13th time in 20 attempts Germany have reached the World Cup’s semi-finals and the fourth in succession since bowing out of the quarter-finals at France ‘98.
Seven of the German squad had suffered with mild flu in the build-up with Hummels one of them but he had recovered enough to take Per Mertesacker’s place at centre-back.
Miroslav Klose, joint top-scorer at World Cup finals with 15 goals, was preferred up front with Thomas Muller switching to the right wing.
Deschamps made two changes from the side who beat Nigeria in the last-16 with centre-back Mamadou Sakho back after a hamstring problem while Antoine Griezmann replaced Olivier Giroud in attack.
Despite the Germans’ stranglehold on early possession, the first real chance fell to Benzema, who fired wide after seven minutes.
The Germans took the lead when Hummels rose highest to head Toni Kroos’ free-kick.
His bullet header smashed in off the crossbar to claim his second goal of the finals having also scored with a similar header in the 4-0 opening win over Portugal.
The goal rocked the French defence as the Germans started exerting pressure.
Klose’s run into the box was held back by a tug on his shirt from right-back Mathieu Debuchy, while a Muller half-chance was quickly snuffed out.
France’s best chance came on 33 minutes when Mathieu Valbuena’s shot was saved by Manuel Neuer and then the goalkeeper making his 50th appearance for his country turned away Benzema’s follow-up.
The French came close to being awarded a penalty just before the break when Benzema’s header hit Hummels in the stomach, missing his hands by inches.
The Real Madrid star then later fired straight at Neuer on a frustrating afternoon as it stayed 1-0 to Germany at the break.
Sami Khedira earned a deserved booking for fouling Griezmann on 54 minutes as France enjoyed a good spell of pressure but failed to take their chances.
Deschamps threw on forward Loic Remy and defender Laurent Koscielny for the last 20 minutes in a final toss of the dice.
But Germany’s replacement Andre Schurrle should have made it 2-0 when he fired at French goalkeeper Hugo Lloris’ feet, then had another shot blocked.
Neuer’s late save to deny Benzema means Germany head coach Joachim Loew has now reached the semi-finals of all of the last four major tournaments during his eight-year reign.
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Killing of Qassem Suleimani
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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.”
Tailors and retailers miss out on back-to-school rush
Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”
A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.
“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”
Fourth Arab Economic and Social Development Summit
As he spoke, Mr Aboul Gheit repeatedly referred to the need to tackle issues affecting the welfare of people across the region both in terms of preventing conflict and in pushing development.
Lebanon is scheduled to host the fourth Arab Economic and Social Development Summit in January that will see regional leaders gather to tackle the challenges facing the Middle East. The last such summit was held in 2013. Assistant Secretary-General Hossam Zaki told The National that the Beirut Summit “will be an opportunity for Arab leaders to discuss solely economic and social issues, the conference will not focus on political concerns such as Palestine, Syria or Libya". He added that its slogan will be “the individual is at the heart of development”, adding that it will focus on all elements of human capital.
Friday's schedule at the Etihad Airways Abu Dhabi Grand Prix
GP3 qualifying, 10:15am
Formula 2, practice 11:30am
Formula 1, first practice, 1pm
GP3 qualifying session, 3.10pm
Formula 1 second practice, 5pm
Formula 2 qualifying, 7pm
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
