If Monday’s dominant football headline offered a stark reminder of the turbo-titanic change sweeping Saudi Arabia, then the duel being duked out on the kingdom’s foremost eastern point that night underlined it.
Granted, this wasn’t Neymar debuting for Al Hilal, as seems certain to come in the not-too-distant future. Brazil’s joint-record goalscorer is expected to be signed in time, though, for Saturday’s home tie against Al Fayha.
Subsequently, the record Saudi champions had to make do – bless – with trotting out a team containing Ruben Neves and Malcom in their 2023/24 Saudi Pro League opener at Abha. They didn’t even need Kalidou Koulibaly (injured) or Sergej Milinkovic-Savic (rested) in the 3-1 win.
Over in Buraidah, the largest city of Al Qassim region in north-central Saudi, Karim Benzema, N’Golo Kante and Fabinho were starring for Al Ittihad. Ex-Celtic winger Jota looked on from the bench. He would’ve liked what he saw: the champions got their defence under way with a routine 3-0 victory at Al Raed.
The night’s marquee fixture, however, was taking place in Dammam, where Al Ettifaq hosted Riyadh giants Al Nassr. Even without Cristiano Ronaldo, Marcelo Brozovic, Alex Telles and Seko Fofana, all given a breather following the team’s just-concluded King Salman Club Cup success, there was still Sadio Mane, the reigning African player of the Year.
Acquired last month from Bayern Munich, the Senegalese international captained the side in Ronaldo’s absence.
And, anyway, he did cross paths with a few familiar faces at the Prince Mohammed bin Fahd Stadium. Sporting the Ettifaq armband was Jordan Henderson, Mane’s colleague and captain through the recent glory years at Liverpool.
Henderson was convinced, in part, to come to the two-time Saudi champions by Steven Gerrard, one of the Anfield club’s genuine greats, who now manages Ettifaq.
Seventh last season – Nassr were runners-up – Ettifaq have bolstered their squad also with Moussa Dembele, the former Fulham, Celtic and Lyon striker, and Jack Hendry, previously of Celtic and Club Brugge. They all began the ninth and final fixture of Matchday 1 of the remodelled Saudi Pro League season.
That’s what these past few months have brought. Some of football’s most prominent names, from Europe’s dominant domestic competitions to the kingdom. To Dammam on a mid-August night where the mercury touched 35 degrees at kick-off and the humidity clocked in at 63 per cent. That is, if you could read your phone through the steamed-up screen.
Credit, then to Mane, who burst out of the blocks, meeting Ali Al Hassan’s low cross from the right byline on four minutes to fire into the Nassr net.
Unquestionably buoyed by a goal on league debut, Mane then flashed a half-volley from distance narrowly wide.
Understandably, it did not take long for the tempo to slow. By the end of the first half, after Henderson had found Faisal Al Ghamdi with his only contribution of note and the winger tested Nassr goalkeeper Nawaf Al Aqidi, it was reduced almost to walking pace.
Henderson departed the pitch visibly wrecked, a cold towel wrapped around his neck. Oh, for a dip in the Mersey.
Yet do not estimate the galvanising effect of a comeback. Within eight minutes of the restart, Ettifaq were in front. Al Aqidi was at fault for both goals, first failing to hold onto the ball to allow Sweden's Robert Quaison to prod home. Nassr remonstrated with the referee that Al Aqidi was nudged as he caught the ball, which he was ever so slightly, VAR was consulted, but the goal stood.
Then, on 53 minutes, Al Aqidi flapped at Vitinho’s deflected cross, leaving Dembele to poke into the empty net. The Ettifaq fans exploded in a cacophony of colour and noise. On the bench, Gerrard jumped for joy.
Soon Nassr would rue striking the woodwork not once but twice, through Abdulmajeed Al Sulaiheem and Mane, the latter’s expert towering header back across goal cannoning off the Ettifaq upright. The rebound was somehow deflected over.
With three minutes of normal time remaining, Henderson was withdrawn, to a standing ovation from the home support. Shattered, he will anticipate easier nights ahead.
Before Henderson could, rather gratefully, take his seat on the bench, Mane sent a sumptuous volley angling inside the Ettifaq far post. To be fair, he knew he was offside; VAR simply confirmed it.
Ettifaq stood strong, through the wave of Nassr attacks, through the tension stretched across 14 minutes of injury-time. Fourteen minutes? How the players were able to conjure the conviction was remarkable.
But they did it. Ettifaq defeated their illustrious rivals, last season’s runners-up, the nine-time Saudi champions with the fresh and frightening Public Investment Fund backing. Even if Nassr were shorn of most of their summer signings.
Gerrard, greeted by a rousing reception when he first entered the athletic track that encircles the pitch, left to his name reverberating around the stands.
It represented some welcome to the spruced-up Saudi Pro League, where galaxy of stars aside, even the weather can play protagonist.
Points to remember
- Debate the issue, don't attack the person
- Build the relationship and dialogue by seeking to find common ground
- Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
- Listen actively without interrupting
- Avoid assumptions, seek understanding, ask questions
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Results
Stage seven
1. Tadej Pogacar (SLO) UAE Team Emirates, in 3:20:24
2. Adam Yates (GBR) Ineos Grenadiers, at 1s
3. Pello Bilbao (ESP) Bahrain-Victorious, at 5s
General Classification
1. Tadej Pogacar (SLO) UAE Team Emirates, in 25:38:16
2. Adam Yates (GBR) Ineos Grenadiers, at 22s
3. Pello Bilbao (ESP) Bahrain-Victorious, at 48s
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Tips for entertaining with ease
· Set the table the night before. It’s a small job but it will make you feel more organised once done.
· As the host, your mood sets the tone. If people arrive to find you red-faced and harried, they’re not going to relax until you do. Take a deep breath and try to exude calm energy.
· Guests tend to turn up thirsty. Fill a big jug with iced water and lemon or lime slices and encourage people to help themselves.
· Have some background music on to help create a bit of ambience and fill any initial lulls in conversations.
· The meal certainly doesn’t need to be ready the moment your guests step through the door, but if there’s a nibble or two that can be passed around it will ward off hunger pangs and buy you a bit more time in the kitchen.
· You absolutely don’t have to make every element of the brunch from scratch. Take inspiration from our ideas for ready-made extras and by all means pick up a store-bought dessert.
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
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The five pillars of Islam
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Jordan cabinet changes
In
- Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
- Dr Bassam Samir Al Talhouni, Minister of Justice
- Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
- Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
- Falah Abdalla Al Ammoush, Minister of Public Works and Housing
- Basma Moussa Ishakat, Minister of Social Development
- Dr Ghazi Monawar Al Zein, Minister of Health
- Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
- Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth
Out
- Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
- Hala Noaman “Basiso Lattouf”, Minister of Social Development
- Dr Mahmud Yassin Al Sheyab, Minister of Health
- Yahya Moussa Kasbi, Minister of Public Works and Housing
- Nayef Hamidi Al Fayez, Minister of Environment
- Majd Mohamed Shoueika, Minister of Public Sector Development
- Khalid Moussa Al Huneifat, Minister of Agriculture
- Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
- Mounir Moussa Ouwais, Minister of Water and Agriculture
- Dr Azmi Mahmud Mohafaza, Minister of Education
- Mokarram Mustafa Al Kaysi, Minister of Youth
- Basma Mohamed Al Nousour, Minister of Culture
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.”
