• Portugal's Cristiano Ronaldo celebrates with teammate Joao Felix after scoring the opening goal in the 3-2 win against Ghana at the Stadium 974 in Doha on November 24, 2022. AP
    Portugal's Cristiano Ronaldo celebrates with teammate Joao Felix after scoring the opening goal in the 3-2 win against Ghana at the Stadium 974 in Doha on November 24, 2022. AP
  • Ronaldo and the Portugal team celebrate. Getty
    Ronaldo and the Portugal team celebrate. Getty
  • Ronaldo celebrates scoring from the penalty spot. EPA
    Ronaldo celebrates scoring from the penalty spot. EPA
  • Cristiano Ronaldo's delight after scoring. Getty
    Cristiano Ronaldo's delight after scoring. Getty
  • Ghana's midfielder Andre Ayew celebrates with teammates after levelling at 1-1. AFP
    Ghana's midfielder Andre Ayew celebrates with teammates after levelling at 1-1. AFP
  • Joao Felix celebrates scoring Portugal's second goal with teammates Joao Cancelo and Bruno Fernandes. Reuters
    Joao Felix celebrates scoring Portugal's second goal with teammates Joao Cancelo and Bruno Fernandes. Reuters
  • Cristiano Ronaldo is substituted. Getty
    Cristiano Ronaldo is substituted. Getty
  • Rafael Leao scores Portugal's third. Getty
    Rafael Leao scores Portugal's third. Getty
  • Rafael Leao celebrates after scoring. Getty
    Rafael Leao celebrates after scoring. Getty
  • Osman Bukari scores Ghana's second goal. Getty
    Osman Bukari scores Ghana's second goal. Getty

Record-breaking Cristiano Ronaldo is spot on as Portugal edge past Ghana at World Cup


Paul Radley
  • English
  • Arabic

After slotting the penalty which broke the deadlock and sparked the game into life, he might have been forgiven for acting like he had just found the last Coca-Cola in the desert.

It was all about him. When is it ever not? And yet, after achieving something unique, making history, and apparently paving the way to victory against a stubborn opposition, he was one of the boys again.

Cristiano Ronaldo’s 65th minute strike set Portugal on the way to a 3-2 win over Ghana at the World Cup in Doha. He had won the spot-kick himself, after he was felled – if slightly tamely - by Mohammed Salisu.

His celebration did bear most of the trademarks. He ran to the corner, leapt high in the air, and was ready to unleash his arms at his side.

And yet there was no “siuu”. Not from him, at least, even if the majority of the crowd in the Stadium 974 bellowed exactly that. Instead, he cracked a smile, and looked straight for his mates.

They were already there surrounding him, the substitutes massed by the corner flag, ready to mob the first man to score in five World Cups.

Still, there was a job to do. Initially, they made heavy weather of it, passing up an equaliser five minutes later to Andre Ayew, Ronaldo’s opposite number as Ghana captain.

For all their endeavour, though, Ghana are the lowest ranked side in the tournament for a reason, and the Portuguese just about managed to bring their class to bear.

First, Joao Felix reasserted their advantage with a clever lifted finish. Then Rafael Leao gave them a two-goal buffer two minutes later.

Ghana refused to bow, and Osman Bukari set Portuguese nerves racing when he dragged a goal back with a minute remaining in normal time.

Ronaldo, who had just had his own personal curtain call after being substituted, was livid that the door had been left ajar for the Ghanaians. By the end, though, he could be satisfied with a job just about well done.

Even if he was not on the field when victory was finally sealed, it had been Ronaldo’s occasion.

The crowd were gripped by anticipation whenever he went near the ball. The first time he did, 90 seconds in, it was greeted by a cacophonous roar. Not that it was anything to celebrate: he miss-controlled, then made a foul.

In the 10th minute, he was lax again. He found space in the heart of the Ghana defence, but his first touch got away from him and permitted goalkeeper Lawrence Ati-Zigi to stub out the threat.

Shortly after, he erred for a third time. Admittedly, few other players in the game would have been able to soar in the fashion he did at the far post to meet a high cross. Once there, though, he failed to get any significant purchase on the header, and the ball drifted harmlessly wide.

Just after the half-hour mark, he did have the ball in Ati-Zigi’s goal, but it had already been ruled out as he was adjudged to have fouled Alexander Djiku, the Ghana defender.

The sense that nothing was going quite right for the fixture’s dominant figure was summed up just before half-time when he got in the way of his teammate Raphael Guerreiro’s volleyed shot from the left. The ball became tangled in Ronaldo’s legs, and his effort to move in on was uncharacteristically ungainly.

With his first chance after the break, he was easily marshalled again by Ghana’s defence. As they broke away, the African side enjoyed their brightest moment of the game till that point, as Mohammed Kudus flashed a shot from distance just wide.

The game was getting increasingly feisty. Alidu Seidu was lucky to escape a red card after going head to head with Felix.

All that occurred before goal had even been scored. Then Ronaldo addressed that issue by opening the floodgates. Within 25 minutes at the end of the game, five flew in.

What mattered to Ronaldo and Portugal in the final count up, though, was that the three points were theirs.

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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.”

BUNDESLIGA FIXTURES

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 
RB Leipzig v Freiburg (4.30pm) 
Hoffenheim v Hertha Berlin (4.30pm) 
Fortuna Dusseldorf v Paderborn  (4.30pm) 
Augsburg v Wolfsburg (4.30pm) 
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

The specs: 2018 Kia Picanto

Price: From Dh39,500

Engine: 1.2L inline four-cylinder

Transmission: Four-speed auto

Power: 86hp @ 6,000rpm

Torque: 122Nm @ 4,000rpm

Fuel economy, combined: 6.0L / 100km

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

Key fixtures from January 5-7

Watford v Bristol City

Liverpool v Everton

Brighton v Crystal Palace

Bournemouth v AFC Fylde or Wigan

Coventry v Stoke City

Nottingham Forest v Arsenal

Manchester United v Derby

Forest Green or Exeter v West Brom

Tottenham v AFC Wimbledon

Fleetwood or Hereford v Leicester City

Manchester City v Burnley

Shrewsbury v West Ham United

Wolves v Swansea City

Newcastle United v Luton Town

Fulham v Southampton

Norwich City v Chelsea

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

The biog

Full name: Aisha Abdulqader Saeed

Age: 34

Emirate: Dubai

Favourite quote: "No one has ever become poor by giving"

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The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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Updated: November 24, 2022, 6:15 PM