Tributes flood in for the stricken Abdulrahman



DUBAI // As the two teams assembled before the match last night, Al Nasr players unfurled a banner praying for the quick recovery of Yousuf Abdulrahman, the Al Ain and national goalkeeper, who was seriously injured in a car crash on Thursday night. It was a solemn start to the game, with little signs of the high spirits that usually come with a game between these two old rivals with passionate fan followings.

Abdulrahman suffered a broken jaw, collarbone and cheekbones when his car crashed as he drove from his home in Kalba to attend the final Al Ain training session ahead of this match against Nasr. He was rushed to a hospital in Al Dhaid before being airlifted to Rashid Hospital in Dubai. Top officials of the club spent the day at the hospital. Rashid al Zaabi, head of the media and marketing section of the Football Association (FA), who has travelled with the junior and Olympic team as head of delegation, also visited.

"Yousuf is like a son to me and one of the stars of the UAE national team," al Zaabi said. "It is a really sad moment for us and we stand beside the player and his family at this moment. "He is a real treasure for us, not just the country but the entire region and his performances at the Youth World Cup, Asian Championship and the recent Gulf Cup have just proven that." Sheikh Abdullah bin Mohammed bin Khalid Al Nahyan, a member of the Al Ain honorary board, visited the goalkeeper, as well as Hanif Hassan, the Minister of Health. The player also had well-wishers calling from outside the country, including Sheikh Hamad bin Khalifa bin Ahmed Al Thani, chairman of the Qatari Football Association.

Mahdi Ali, the coach of the UAE Olympic team, and Mohammed Fawzi, who was the captain of the team that won the recent Under 23 Gulf Cup, also visited Abdulrahman at the hospital. The player is reportedly recovering well, according to Dr Khalid Mohammed Abdullah, the executive director of the Al Ain club. "The player has undergone surgery this morning on his broken jaw and cheekbones," said Dr Abdullah. "The surgery lasted three hours and he will be in the intensive care unit for 24 hours before being shifted back to his hospital room."

Al Zaabi was also confident of a quick recovery. "In such cases, the biggest fear is the risk of bleeding. But thank God that things went well and the player received proper and prompt medical attention. "He will be kept under observation for 24 hours after the surgery and will hopefully return to a normal state inside two days to continue the gradual process of treatment until full recovery." Mohammed Khalfan al Rumaithi, the president of the FA, visited the player, along with Saeed Abdul Gaffar, the vice-president.

"Yousuf is in a stable condition now," al Rumaithi said. "His condition has drawn a lot of interest from the Sheikhs, government officials and professionals from the health sector. The player is a national jewel, one of the most promising talents in the country and a young man. We wish him speedy recovery and hope to see him back on the field as soon as possible." arizvi@thenational.ae

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Stars: Basel Adra, Yuval Abraham

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MATCH INFO

Jersey 147 (20 overs) 

UAE 112 (19.2 overs)

Jersey win by 35 runs

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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.”

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Name: Qyubic
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