Tributes to former manager Bobby Robson placed by Newcastle United fans are seen at the club's stadium yesterday.
Tributes to former manager Bobby Robson placed by Newcastle United fans are seen at the club's stadium yesterday.

Sir Bobby Robson: A national treasure



The footballing world lost one of its true greats yesterday when former England manager Sir Bobby Robson died peacefully at his home in his beloved County Durham aged 76, after losing his long battle with lung cancer. He was born into a coal mining family, but life in the pit was not for him. Instead, Robson carved himself a one of the longest and most illustrious careers in football - and grafted a place in the hearts of football supporters around the globe.

As a player he turned out for Fulham, during two spells in the 1950s and 60s, and West Brom winning 20 England caps and appearing at the 1958 World Cup. But it was as a manager where he truly made his name, winning league titles in three different countries, guiding unfashionable Ipswich Town to domestic and European glory and, most memorably, leading the England nati-onal team to within a post's width of the 1990 World Cup final.

Robson first enjoyed great success during his time as manager of Ipswich, guiding the Portman Road club to the 1978 FA Cup and the 1981 Uefa Cup and twice securing a league runners-up spot. He took over the England reins following the 1982 World Cup, becoming the most successful England manager since Sir Alf Ramsey. In 1986, England were knocked out of the World Cup at the quarter-final stages by Argentina and Maradona's famous handball goal. Four years later, he came closer to claiming the prestigious prize at Italia '90, but England suffered the heartbreak of a semi-final penalty shoot-out defeat to West Germany.

Back in club management, Robson had spells with PSV, Porto and Barcelona, guiding each to their domestic title, before taking over the reins at his beloved Newcastle, his boyhood club, in 1999. A successful five years saw the Magpies qualify twice for the Champions League. Robson nurtured such talents as Romario, Ronaldo and Paul Gascgoine, whose tears on the pitch during that '90 semi-final are synonymous with Robson's England reign. Knighted in 2002, his influence transcended his role as player and coach. He was responsible for inspiring modern-day managing greats, including giving Inter Milan's Jose Mourinho his first break in coaching.

"It is difficult to accept such a person is no longer with us - but he is immortal because he leaves in everybody who knows him a mark of his personality," Mourinho said of his former mentor. "He was a great coach but, more than that, a great person.' Manchester United manager Sir Alex Ferguson said: "I was never too big or proud to ask him for advice which he gave freely and unconditionally. In my 23 years working in England there is not a person I would put an inch above Bobby Robson. Let's hope it won't be long before another like him turns up because we could never get enough of them."

England coach Fabio Capello, added: "Sir Bobby was a wonderful man, a real gentleman. He will never be forgotten." Last year, despite his deteriorating health, he launched the Sir Bobby Robson Foundation to raise money for cancer research. He made his final public appearance last Sunday, when 33,000 fans turned out at St James' Park to pay homage at a charity match to raise funds for his Foundation.

Football folk loved his eccentricity. He had a habit of getting the names of his players wrong. Shola Ameobi, the Newcastle forward, was once asked if Robson had a nickname for him to which he replied: "Yes, Carl Cort." During Italia '90, he was mulling over his next selection as he descended in the lift at the team hotel. As the lift doors opened, there waiting was his captain Bryan Robson. "Hi Bobby," said Bobby absent-mindedly. "No, I'm Bryan, you're Bobby," replied Bryan. It's a lovely story. In truth, however, there could only ever be one Sir Bobby Robson.

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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.”

The biog

Fast facts on Neil Armstrong’s personal life:

  • Armstrong was born on August 5, 1930, in Wapakoneta, Ohio
  • He earned his private pilot’s license when he was 16 – he could fly before he could drive
  • There was tragedy in his married life: Neil and Janet Armstrong’s daughter Karen died at the age of two in 1962 after suffering a brain tumour. She was the couple’s only daughter. Their two sons, Rick and Mark, consulted on the film
  • After Armstrong departed Nasa, he bought a farm in the town of Lebanon, Ohio, in 1971 – its airstrip allowed him to tap back into his love of flying
  • In 1994, Janet divorced Neil after 38 years of marriage. Two years earlier, Neil met Carol Knight, who became his second wife in 1994 
A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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
History's medical milestones

1799 - First small pox vaccine administered

1846 - First public demonstration of anaesthesia in surgery

1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases

1895 - Discovery of x-rays

1923 - Heart valve surgery performed successfully for first time

1928 - Alexander Fleming discovers penicillin

1953 - Structure of DNA discovered

1952 - First organ transplant - a kidney - takes place 

1954 - Clinical trials of birth control pill

1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.

1998 - The first adult live-donor liver transplant is carried out

Infobox

Western Region Asia Cup Qualifier, Al Amerat, Oman

The two finalists advance to the next stage of qualifying, in Malaysia in August

Results

UAE beat Iran by 10 wickets

Kuwait beat Saudi Arabia by eight wickets

Oman beat Bahrain by nine wickets

Qatar beat Maldives by 106 runs

Monday fixtures

UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain

FA Cup quarter-final draw

The matches will be played across the weekend of 21 and 22 March

Sheffield United v Arsenal

Newcastle v Manchester City

Norwich v Derby/Manchester United

Leicester City v Chelsea

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
Results

57kg quarter-finals

Zakaria Eljamari (UAE) beat Hamed Al Matari (YEM) by points 3-0.

60kg quarter-finals

Ibrahim Bilal (UAE) beat Hyan Aljmyah (SYR) RSC round 2.

63.5kg quarter-finals

Nouredine Samir (UAE) beat Shamlan A Othman (KUW) by points 3-0.

67kg quarter-finals

Mohammed Mardi (UAE) beat Ahmad Ondash (LBN) by points 2-1.

71kg quarter-finals

Ahmad Bahman (UAE) defeated Lalthasanga Lelhchhun (IND) by points 3-0.

Amine El Moatassime (UAE) beat Seyed Kaveh Safakhaneh (IRI) by points 3-0.

81kg quarter-finals

Ilyass Habibali (UAE) beat Ahmad Hilal (PLE) by points 3-0