• Morocco's Abde Ezzalzouli looks downcast after France celebrate their second goal in the 2-0 World Cup semi-final win at Al Bayt Stadium in Al Khor, Qatar, on December 14, 2022. EPA
    Morocco's Abde Ezzalzouli looks downcast after France celebrate their second goal in the 2-0 World Cup semi-final win at Al Bayt Stadium in Al Khor, Qatar, on December 14, 2022. EPA
  • Morocco's Romain Saiss consoles Achraf Hakimi at the end of the match. AP
    Morocco's Romain Saiss consoles Achraf Hakimi at the end of the match. AP
  • Morocco players kneel on the pitch at the end of the match. AP
    Morocco players kneel on the pitch at the end of the match. AP
  • France's Kylian Mbappe hugs Morocco's Achraf Hakimi. AP
    France's Kylian Mbappe hugs Morocco's Achraf Hakimi. AP
  • Morocco coach Walid Regragui acknowledges the fans after the match. Reuters
    Morocco coach Walid Regragui acknowledges the fans after the match. Reuters
  • France forward Randal Kolo Muani celebrates with teammates after scoring their second goal. AFP
    France forward Randal Kolo Muani celebrates with teammates after scoring their second goal. AFP
  • France substitute Randal Kolo Muani celebrates after scoring the second goal against Morocco. Getty
    France substitute Randal Kolo Muani celebrates after scoring the second goal against Morocco. Getty
  • Randal Kolo Muani celebrates scoring. AP
    Randal Kolo Muani celebrates scoring. AP
  • Randal Kolo Muani scores the second goal for France. Getty
    Randal Kolo Muani scores the second goal for France. Getty
  • France's Theo Hernandez (R) celebrates scoring the first goal with Olivier Giroud. EPA
    France's Theo Hernandez (R) celebrates scoring the first goal with Olivier Giroud. EPA
  • Theo Hernandez scores the opening goal past Yassine Bounou of Morocco. Getty
    Theo Hernandez scores the opening goal past Yassine Bounou of Morocco. Getty
  • Theo Hernandez celebrates after scoring the first goal for France. Getty
    Theo Hernandez celebrates after scoring the first goal for France. Getty
  • Theo Hernandez celebrates after scoring. Getty
    Theo Hernandez celebrates after scoring. Getty
  • Morocco's Jawad El Yamiq goes close with an overhead kick. AFP
    Morocco's Jawad El Yamiq goes close with an overhead kick. AFP
  • Kylian Mbappe is frustrated. Getty
    Kylian Mbappe is frustrated. Getty
  • Kylian Mbappe after a missed chance. Getty
    Kylian Mbappe after a missed chance. Getty
  • Morocco's Romain Saiss is substituted by Selim Amallah during the first half. AP
    Morocco's Romain Saiss is substituted by Selim Amallah during the first half. AP
  • Kylian Mbappe is challenged by Yassine Bounou and Achraf Dari. Getty
    Kylian Mbappe is challenged by Yassine Bounou and Achraf Dari. Getty
  • France's Olivier Giroud in action. AP
    France's Olivier Giroud in action. AP
  • Aurelien Tchouameni of France reacts after a challenge with Sofyan Amrabat. Getty
    Aurelien Tchouameni of France reacts after a challenge with Sofyan Amrabat. Getty
  • Antoine Griezmann during the semi-final. Getty
    Antoine Griezmann during the semi-final. Getty
  • Ibrahima Konateof France in action against Achraf Hakimi of Morocco. EPA
    Ibrahima Konateof France in action against Achraf Hakimi of Morocco. EPA
  • France's Ousmane Dembele and Morocco's Yahia Attiyat Allah challenge for the ball. AP
    France's Ousmane Dembele and Morocco's Yahia Attiyat Allah challenge for the ball. AP

Moroccan fans delighted to continue World Cup adventure in quest for third place


Ali Al Shouk
  • English
  • Arabic

Proud Morocco fans are embracing the opportunity to continue a “miraculous adventure” as their national heroes aim to secure more World Cup history against Croatia on Saturday.

The resolute North Africans saw their hopes of lifting the Jules Rimet trophy ended after a 2-0 semi-final loss to defending champions France on Wednesday.

But they can still end a remarkable tournament on a high by signing off with victory in the third-place play-off.

They would become the first team from Africa and the Arab world to claim third spot.

The chance of a bronze medal offers a silver lining for supporters who don't want an incredible sporting journey to end.

Historic night awaits

Mohammed Al Sharafi, centre, will be cheering on Morocco against Croatia on Saturday. Photo: Mohammed Al Sharafi
Mohammed Al Sharafi, centre, will be cheering on Morocco against Croatia on Saturday. Photo: Mohammed Al Sharafi

Mohammed Al Sharafi, 55, who travelled from Morocco with his son to cheer on the team, will be in attendance at Khalifa International Stadium.

“I will be in the stadium for the third place match to support our beloved team. It will be another historic achievement,” said Mr Al Sharafi.

“We won’t leave our players and will keep supporting them in good and bad times.

“Our eyes now on the third place and to defeat Croatia. I will go with my son to cheer for the team until the end.”

The World Cup's third place match is not typically viewed fondly by football lovers. It is often seen as a game too far for competing sides still feeling the lingering disappointment of semi-final loss.

  • Hiba El Adouli, from Morocco, and Jordanian Saad Al Zarb were cheering the Arab team on. Patrick Ryan / The National
    Hiba El Adouli, from Morocco, and Jordanian Saad Al Zarb were cheering the Arab team on. Patrick Ryan / The National
  • Not everyone was supporting the underdogs, including David Rogynian, from Russia who always backs France. Patrick Ryan / The National
    Not everyone was supporting the underdogs, including David Rogynian, from Russia who always backs France. Patrick Ryan / The National
  • Oukaima Laouhidi, another Moroccan in Dubai was hopeful of a spot in the final. Patrick Ryan / The National
    Oukaima Laouhidi, another Moroccan in Dubai was hopeful of a spot in the final. Patrick Ryan / The National
  • Imad Yousef, Syrian, and Noha Kari, from Morocco said the team has taught millions about believing in hope. Patrick Ryan / The National
    Imad Yousef, Syrian, and Noha Kari, from Morocco said the team has taught millions about believing in hope. Patrick Ryan / The National
  • Matthew Madanat, Jordanian joined the hordes of Morocco supporters during the game against France. Patrick Ryan / The National
    Matthew Madanat, Jordanian joined the hordes of Morocco supporters during the game against France. Patrick Ryan / The National
  • Ranim Hamed, is Palestinian, and Naamah Tawil, is Lebanese but on Wednesday night they were both supporting Morocco. Patrick Ryan / The National
    Ranim Hamed, is Palestinian, and Naamah Tawil, is Lebanese but on Wednesday night they were both supporting Morocco. Patrick Ryan / The National

But for many nations and their supporters, it can offer tangible rewards for their achievements during the festival of football.

Usama Mohammed, 27, who came from Belgium to support Morocco when they reached the quarter-finals, said the game holds great importance.

“We know that every team doesn’t like to be on a plane home early in this tournament but we are still here and have our last match. It is a chance to continue our miraculous adventure,” he said.

“This team makes all Moroccans dream of a better future in football. I wished we could make it to the final but at the end we were playing against the former champion. Putting Morocco's name in third place is another victory for us.”

Rajaa Rasheed said the players and coach of Morocco have captured the hearts of the nation.

“They made our hopes grow by reaching this point. They had the best match against France and wasted some chances. Winning the third place is a dream for us,” she said.

“The players should know that they still have one mission to accomplish.”

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

SQUADS

UAE
Mohammed Naveed (captain), Mohamed Usman (vice-captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan

Nepal
Paras Khadka (captain), Gyanendra Malla, Dipendra Singh Airee, Pradeep Airee, Binod Bhandari, Avinash Bohara, Sundeep Jora, Sompal Kami, Karan KC, Rohit Paudel, Sandeep Lamichhane, Lalit Rajbanshi, Basant Regmi, Pawan Sarraf, Bhim Sharki, Aarif Sheikh

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.”

The National in Davos

We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.

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Updated: December 15, 2022, 8:39 PM