AC Milan feel they are in a position to advance to the Champions League quarter-finals as they travel to the Vicente Calderon to face Atletico Madrid on Tuesday.
Milan will be bolstered by the presence of Mario Balotelli for the trip to the Spanish capital as he made his first appearance since being forced off in the first leg, with a shoulder problem, as a substitute in the defeat at Udinese.
Adel Taarabt is also expected to start in attack and the Moroccan playmaker believes the seven-time European champions can take encouragement from their performance in the first leg.
“We should have won at the San Siro, it could have been 2-0 but we were unlucky,” he told the Milan channel.
“On Tuesday we’ve got no fear about taking on Atletico Madrid. They’re a strong side, they’re second in the Spanish league, but the Champions League is a different competition.
“At the San Siro we showed that we can dominate, I see no reason why we can’t do the same over there in Madrid.”
Italian international Riccardo Montolivo is the only significant absentee from Clarence Seedorf’s 22-man squad as he is suspended.
Atletico Madrid, meanwhile, are looking to book their place in the quarter-finals of the Champions League for the first time since 1997.
The Spanish side hold a 1-0 advantage from the first leg three weeks ago thanks to Diego Costa’s late winner at the San Siro.
Atletico coach Diego Simeone was part of the side that made the last eight 17 years ago and his men will be confident of building on their lead as they have been beaten only once in 22 home games this season.
Both sides continued their contrasting fortunes in domestic competition this season at the weekend as Atletico briefly retook top spot in La Liga with a 2-0 win away to Celta Vigo.
Milan, meanwhile, rested a number of their star names in a 1-0 defeat to Udinese to leave them marooned in 11th in Serie A.
Atletico will be able to welcome back star man Costa after he missed the win over Celta due to suspension.
The Spanish international’s absence paved the way for a return to form for David Villa as he took Costa’s place up front and scored both goals as Atletico won on the road for the first time in six weeks in La Liga.
And Simeone believes Villa’s experience of challenging for titles will be key for his side in the decisive last few months of the season.
“He lives for scoring goals, he is a specialist in that. He has a precision and decisiveness in front of goal that has marked his career,” he told the club’s website.
“He is a very important player for us due to his goals and experience. He is one of the few players we have that is used to fighting at the top week in, week out.”
Simeone will also be able to welcome back Diego Godin and Arda Turan as they too were banned at the weekend, whilst midfielder Tiago remains Atletico’s only absentee through injury.
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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.”
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
How Sputnik V works
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
