Scotland's Scott Brown, centre, celebrates his goal against Macedonia with teammates Kenny Miller, left, and Darren Fletcher.
Scotland's Scott Brown, centre, celebrates his goal against Macedonia with teammates Kenny Miller, left, and Darren Fletcher.

Brown keeps Scotland dream alive



George Burley survived to fight another day as Scotland manager as goals from Scott Brown and James McFadden secured a crucial victory against Macedonia to keep their World Cup play-off hopes alive. Pressure had been mounting on Burley since last month's 4-0 thrashing in Norway left the nation's chances of qualifying for next summer's finals in South Africa in the balance. He knew defeat at Hampden Park yesterday could have spelled the end of his tenure.

After a nervous and feisty first-half had ended goalless, the Scots rose to the challenge in the second, Brown claiming his first international goal after the restart and McFadden ensuring the victory late on ahead of another crunch match on Wednesday night against Holland. There was a furore towards the end off the first half when Brown won a corner rather than allow possession to return to Macedonia, who had put the ball out of play after one of their players was injured.

Pushing and shoving ensued and several players were booked, including McFadden who will now miss the clash against Holland. Lazio striker Goran Pandev was a threat throughout for Macedonia, but, as they game went on, Scotland began to dominate and Hampden erupted when the opener arrived after 56 minutes as Brown connected with a Steven Fletcher cross to direct a header past the Macedonia goalkeeper.

As Macedonia, who were level on points with Scotland before kick-off, poured forward, Burley's men broke and McFadden wrapped up victory 10 minutes from time with a terrific solo effort. He collected the ball on the halfway line before skipping past two defenders, rounding the goalkeeper before coolly slotting into the back of the net. Midfielder Wesley Sneijder strained ankle ligaments in Holland's 3-0 friendly win over Japan and is doubtful for Wednesday's game against Scotland. Inter Milan's Sneijder was taken to hospital for checks immediately after the game and a spokeswoman for the Dutch team said a decision had not yet been taken on whether he would rejoin the squad.

Dutch coach Bert van Marwijk had earlier expressed concern about the injury. "Wesley told me he heard something crack so it looks serious but we have to await the outcome of the investigation in the hospital," he said. Sneijder scored his side's second goal, between strikes from Robin van Persie and Klaas Jan Huntelaar, in a low-key win. The Dutch have already qualified for the 2010 World Cup in South Africa and the Scotland match is their last in Group Nine.

In England's Group Six, Ukraine kept their play-off hopes intact with a 5-0 home victory over minnows Andorra. * With agencies

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Name: ARDH Collective
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Sector: Sustainability
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Number of employees: 4

Company Profile

Company name: Big Farm Brothers

Started: September 2020

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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
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Director: Rohit Shetty

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Rating: 3/5

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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How to protect yourself when air quality drops

Install an air filter in your home.

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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.