• France forward Kylian Mbappe and manager Didier Deschamps greet supporters at the Hotel de Crillon in central Paris, on December 19, 2022, a day after their World Cup final defeat against Argentina in Qatar. AP
    France forward Kylian Mbappe and manager Didier Deschamps greet supporters at the Hotel de Crillon in central Paris, on December 19, 2022, a day after their World Cup final defeat against Argentina in Qatar. AP
  • Manager Didier Deschamps and French team arrive at Charles de Gaulle Airport back from Doha after their World Cup final defeat against Argentina. EPA
    Manager Didier Deschamps and French team arrive at Charles de Gaulle Airport back from Doha after their World Cup final defeat against Argentina. EPA
  • Hugo Lloris, Kylian Mbappe and Didier Deschamps arrive back in Paris. AFP
    Hugo Lloris, Kylian Mbappe and Didier Deschamps arrive back in Paris. AFP
  • France forward Olivier Giroud shakes hands with an airport employee. AFP
    France forward Olivier Giroud shakes hands with an airport employee. AFP
  • Hugo Lloris and Didier Deschamps arrive back in France from the World Cup in Qatar. AFP
    Hugo Lloris and Didier Deschamps arrive back in France from the World Cup in Qatar. AFP
  • France's Olivier Giroud arrives back in Paris. AP
    France's Olivier Giroud arrives back in Paris. AP
  • Fans wait at the Place de la Concorde in Paris for the arrival of the French football team. AFP
    Fans wait at the Place de la Concorde in Paris for the arrival of the French football team. AFP
  • Antoine Griezmann arrives back at Paris Roissy Airport from the World Cup in Qatar. EPA
    Antoine Griezmann arrives back at Paris Roissy Airport from the World Cup in Qatar. EPA
  • France players Olivier Giroud, left, and Antoine Griezmann, centre, greet supporters in Paris. AFP
    France players Olivier Giroud, left, and Antoine Griezmann, centre, greet supporters in Paris. AFP
  • France attacker Kylian Mbappe arrives back in Paris. EPA
    France attacker Kylian Mbappe arrives back in Paris. EPA
  • Left to right: France's Olivier Giroud, Antoine Griezmann, Aurelien Tchouameni, Kylian Mbappe and Didier Deschamps greet supporters. AFP
    Left to right: France's Olivier Giroud, Antoine Griezmann, Aurelien Tchouameni, Kylian Mbappe and Didier Deschamps greet supporters. AFP
  • Fans greet the arrival of the French football team in Paris. AFP
    Fans greet the arrival of the French football team in Paris. AFP
  • Fans await the arrival of the French football team at the Crillon Hotel on the Place de la Concorde in Paris. EPA
    Fans await the arrival of the French football team at the Crillon Hotel on the Place de la Concorde in Paris. EPA
  • Fans greet the French football team at the Crillon Hotel on the Place de la Concorde in Paris. EPA
    Fans greet the French football team at the Crillon Hotel on the Place de la Concorde in Paris. EPA
  • France football team supporters gather on the Place de la Concorde in Paris. EPA
    France football team supporters gather on the Place de la Concorde in Paris. EPA
  • Supporters gather on the Place de la Concorde in Paris for the arrival of the France football team. EPA
    Supporters gather on the Place de la Concorde in Paris for the arrival of the France football team. EPA
  • France forward Kylian Mbappe with manager Didier Deschamps. AFP
    France forward Kylian Mbappe with manager Didier Deschamps. AFP
  • Left to right: Aurelien Tchouameni, Ousmane Dembele, Kylian Mbappe and Didier Deschamps. AFP
    Left to right: Aurelien Tchouameni, Ousmane Dembele, Kylian Mbappe and Didier Deschamps. AFP
  • France manager Didier Deschamps and Kylian Mbappe. Reuters
    France manager Didier Deschamps and Kylian Mbappe. Reuters
  • France forward Kylian Mbappe with manager Didier Deschamps. AFP
    France forward Kylian Mbappe with manager Didier Deschamps. AFP
  • France managerDidier Deschamps and Kylian Mbappe. Reuters
    France managerDidier Deschamps and Kylian Mbappe. Reuters
  • Supporters gather on the Place de la Concorde in Paris to greet the France football team. Reuters
    Supporters gather on the Place de la Concorde in Paris to greet the France football team. Reuters
  • The France World Cup squad greet fans in Paris a day after their World Cup final defeat against Argentina. AFP
    The France World Cup squad greet fans in Paris a day after their World Cup final defeat against Argentina. AFP
  • France's Olivier Giroud, Antoine Griezmann, Aurelien Tchouameni, Ibrahima Konate and Eduardo Camavinga greet fans. Reuters
    France's Olivier Giroud, Antoine Griezmann, Aurelien Tchouameni, Ibrahima Konate and Eduardo Camavinga greet fans. Reuters
  • France manager Didier Deschamps and goalkeeper Hugo Lloris greet fans in Paris. Reuters
    France manager Didier Deschamps and goalkeeper Hugo Lloris greet fans in Paris. Reuters
  • The France World Cup squad greet fans in Paris a day after their World Cup final defeat against Argentina. AFP
    The France World Cup squad greet fans in Paris a day after their World Cup final defeat against Argentina. AFP
  • France attacker Kylian Mbappe. Reuters
    France attacker Kylian Mbappe. Reuters
  • Fans in Paris await the arrival of the French World Cup squad. EPA
    Fans in Paris await the arrival of the French World Cup squad. EPA
  • France's Kylian Mbappe and Aurelien Tchouameni greet fans in Paris. Reuters
    France's Kylian Mbappe and Aurelien Tchouameni greet fans in Paris. Reuters
  • France's Olivier Giroud, Antoine Griezmann and Aurelien Tchouameni greet fans in Paris. Reuters
    France's Olivier Giroud, Antoine Griezmann and Aurelien Tchouameni greet fans in Paris. Reuters
  • The France World Cup squad greet fans in Paris a day after their World Cup final defeat against Argentina. AP
    The France World Cup squad greet fans in Paris a day after their World Cup final defeat against Argentina. AP
  • France's Olivier Giroud and Antoine Griezmann greet supporters in central Paris. AFP
    France's Olivier Giroud and Antoine Griezmann greet supporters in central Paris. AFP

Thousands welcome home Kylian Mbappe and the France World Cup squad - in pictures


  • English
  • Arabic

Kylian Mbappe and the France football squad were greeted by thousands of fans after arriving back in Paris on Monday from the World Cup in Qatar.

France were beaten in a penalty shoot-out by Argentina on Sunday night in one of the all-time great World Cup finals and the team looked in a sombre mood after landing at Charles de Gaulle Airport from Doha.

Despite it being a drab and chilly December evening, though, several thousand had congregated at Paris' Place de la Concorde.

Fans let off fireworks, waved French tricolore flags and chanted "Allez Les Bleus" and the French national anthem as the team appeared on the balcony of the Hotel de Crillon.

Manager Didier Deschamps and team captain Hugo Lloris waved to the crowds from the balcony. They were later joined by the rest of the squad and Mbappe, who drew a huge roar from the crowd.

"Frankly, it's magnificent, it warms the heart, it's a great pleasure to see that we were able to make so many French people proud and happy," forward Marcus Thuram told TF1 TV.

"We wanted to see them [the fans] on our return from Doha because I think it's the least we can do to come and see them and thank them for their support," he added.

World Cup final gallery

  • Lionel Messi holds up the trophy after Argentina defeated France on penalties in the World Cup final at Lusail Stadium in Qatar, on Sunday, December 18, 2022. AP
    Lionel Messi holds up the trophy after Argentina defeated France on penalties in the World Cup final at Lusail Stadium in Qatar, on Sunday, December 18, 2022. AP
  • Argentina's Lionel Messi celebrates with teammates after beating France. AP
    Argentina's Lionel Messi celebrates with teammates after beating France. AP
  • France's Kylian Mbappe walks past the trophy at the end of the match. AP
    France's Kylian Mbappe walks past the trophy at the end of the match. AP
  • Argentina's Lionel Messi holds up the Golden Ball award for best player of the tournament. AP
    Argentina's Lionel Messi holds up the Golden Ball award for best player of the tournament. AP
  • Argentina celebrate victory at Lusail Stadium. Getty
    Argentina celebrate victory at Lusail Stadium. Getty
  • Lionel Messi of Argentina kisses the trophy after beating France 4-2 on penalties. EPA
    Lionel Messi of Argentina kisses the trophy after beating France 4-2 on penalties. EPA
  • Argentina celebrate victory. AP
    Argentina celebrate victory. AP
  • Argentina captain Lionel Messi celebrates with World Cup trophy. PA
    Argentina captain Lionel Messi celebrates with World Cup trophy. PA
  • Kylian Mbappe of France with his Golden Boot award for finishing as the tournament's top scorer. EPA
    Kylian Mbappe of France with his Golden Boot award for finishing as the tournament's top scorer. EPA
  • Argentina players celebrate after winning the World Cup final penalty shoot-out against France. Getty
    Argentina players celebrate after winning the World Cup final penalty shoot-out against France. Getty
  • Argentina players celebrate victory. Getty
    Argentina players celebrate victory. Getty
  • Argentina's Lautaro Martinez and Lionel Messi celebrate after winning the World Cup. Reuters
    Argentina's Lautaro Martinez and Lionel Messi celebrate after winning the World Cup. Reuters
  • Argentina's Leandro Paredes celebrates scoring the winning penalty against France. Getty
    Argentina's Leandro Paredes celebrates scoring the winning penalty against France. Getty
  • Argentina's Leandro Paredes celebrates scoring during the penalty shoot-out against France. Reuters
    Argentina's Leandro Paredes celebrates scoring during the penalty shoot-out against France. Reuters
  • Argentina goalkeeper Emiliano Martinez saves from Kingsley Coman of France in the penalty shoot-out. Getty
    Argentina goalkeeper Emiliano Martinez saves from Kingsley Coman of France in the penalty shoot-out. Getty
  • Lionel Messi scores for Argentina in the penalty shoot-out. Getty
    Lionel Messi scores for Argentina in the penalty shoot-out. Getty
  • Emiliano Martinez of Argentina celebrates after saving Kingsley Coman's penalty. Getty
    Emiliano Martinez of Argentina celebrates after saving Kingsley Coman's penalty. Getty
  • Kylian Mbappe completes his hat-trick from the spot to make it 3-3. Getty
    Kylian Mbappe completes his hat-trick from the spot to make it 3-3. Getty
  • Kylian Mbappe celebrates after scoring his, and France's, third goal. Getty
    Kylian Mbappe celebrates after scoring his, and France's, third goal. Getty
  • Lionel Messi scores Argentina's third goal. Getty
    Lionel Messi scores Argentina's third goal. Getty
  • Lionel Messi celebrates scoring Argentina's third goal. Getty
    Lionel Messi celebrates scoring Argentina's third goal. Getty
  • Lionel Messi scores Argentina's third goal. Reuters
    Lionel Messi scores Argentina's third goal. Reuters
  • Lionel Messi celebrates scoring Argentina's third goal. PA
    Lionel Messi celebrates scoring Argentina's third goal. PA
  • Argentina's Lionel Messi goes for a high challenge on Eduardo Camavinga of France. Getty
    Argentina's Lionel Messi goes for a high challenge on Eduardo Camavinga of France. Getty
  • Lionel Messi celebrates with teammates after scoring Argentina's third. AFP
    Lionel Messi celebrates with teammates after scoring Argentina's third. AFP
  • Argentina goalkeeper Emiliano Martinez is beaten by the penalty of France's Kylian Mbappe. Getty
    Argentina goalkeeper Emiliano Martinez is beaten by the penalty of France's Kylian Mbappe. Getty
  • Kylian Mbappe celebrates scoring France's second goal. PA
    Kylian Mbappe celebrates scoring France's second goal. PA
  • Argentina's Nicolas Otamendi fouls Randal Kolo Muani of France giving away a penalty. Getty
    Argentina's Nicolas Otamendi fouls Randal Kolo Muani of France giving away a penalty. Getty
  • Kylian Mbappe volleys home France's second goal. Getty
    Kylian Mbappe volleys home France's second goal. Getty
  • Argentina attacker Angel Di Maria skips past the challenge of France's Antoine Griezmann. PA
    Argentina attacker Angel Di Maria skips past the challenge of France's Antoine Griezmann. PA
  • Kylian Mbappe celebrates after scoring the first France goal. Getty
    Kylian Mbappe celebrates after scoring the first France goal. Getty
  • Kylian Mbappe scores France's first goal from the penalty spot. Reuters
    Kylian Mbappe scores France's first goal from the penalty spot. Reuters
  • Angel Di Maria celebrates scoring Argentina's second goal. Reuters
    Angel Di Maria celebrates scoring Argentina's second goal. Reuters
  • Argentina's Lionel Messi sends France goalkeeper Hugo Lloris the wrong way from the spot. Getty
    Argentina's Lionel Messi sends France goalkeeper Hugo Lloris the wrong way from the spot. Getty
  • France's Kylian Mbappe with Lionel Messi of Argentina. Getty
    France's Kylian Mbappe with Lionel Messi of Argentina. Getty
  • Angel Di Maria scores for Argentina in the first-half. Getty
    Angel Di Maria scores for Argentina in the first-half. Getty
  • France's Antoine Griezmann, Olivier Giroud and Adrien Rabiot after Argentina made it 2-0. PA
    France's Antoine Griezmann, Olivier Giroud and Adrien Rabiot after Argentina made it 2-0. PA
  • Argentina's Angel Di Maria celebrates after scoring with France goalkeeper Hugo Lloris on his knees. Reuters
    Argentina's Angel Di Maria celebrates after scoring with France goalkeeper Hugo Lloris on his knees. Reuters
  • Argentina's Nicolas Tagliafico and Randal Kolo Muani fight for the ball. AP
    Argentina's Nicolas Tagliafico and Randal Kolo Muani fight for the ball. AP
  • Angel Di Maria celebrates after scoring for Argentina. Getty
    Angel Di Maria celebrates after scoring for Argentina. Getty
  • Lionel Messi is mobbed by Argentina teammates after scoring. Getty
    Lionel Messi is mobbed by Argentina teammates after scoring. Getty
  • France's Jules Kounde heads the ball. AP
    France's Jules Kounde heads the ball. AP
  • Lionel Messi celebrates after scoring for Argentina. Getty
    Lionel Messi celebrates after scoring for Argentina. Getty
  • Argentina attacker Angel Di Maria earns a penalty after going down under the challenge of France's Ousmane Dembele. Getty
    Argentina attacker Angel Di Maria earns a penalty after going down under the challenge of France's Ousmane Dembele. Getty
  • France's Olivier Giroud shakes hands with manager Didier Deschamps after being substituted in the first half. PA
    France's Olivier Giroud shakes hands with manager Didier Deschamps after being substituted in the first half. PA
  • Lionel Messi scores from the spot for Argentina. PA
    Lionel Messi scores from the spot for Argentina. PA
  • Lionel Messi celebrates after scoring a first-half penalty for Argentina. Getty
    Lionel Messi celebrates after scoring a first-half penalty for Argentina. Getty
  • France goalkeeper Hugo Lloris saves from Argentina's Julian Alvarez. AP
    France goalkeeper Hugo Lloris saves from Argentina's Julian Alvarez. AP
  • France manager Didier Deschamps, left, with his Argentina counterpart Lionel Scaloni before the game. AP
    France manager Didier Deschamps, left, with his Argentina counterpart Lionel Scaloni before the game. AP
  • Argentina players before the match. AP
    Argentina players before the match. AP
  • France players before the match. Getty
    France players before the match. Getty

Goalkeeper and captain Hugo Lloris told TF1 that it was a chance to "greet them (the fans), to thank them for their support and, after yesterday's pain, to seek their consolation."

France lost on penalties on Sunday after the match ended 3-3 following extra time, but French commentators still heaped praise on the defeated side, while highlighting the crucial role of Argentinian captain Lionel Messi.

"Invited to the coronation of Lionel Messi, Les Bleus were heroic," said L'Equipe sports newspaper.

The match was dominated by Argentina for the first 80 minutes before a quickfire double by Mbappe ignited France. Mbappe went on to score a third goal, becoming only the second player in history to grab a hat-trick in a World Cup final.

You can see a gallery of the scenes in Paris in the gallery above. To view the next image, just swipe.

The bio

His favourite book - 1984 by George Orwell

His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard

Favourite place to travel to - Peloponnese, Southern Greece

Favourite movie - The Last Emperor

Favourite personality from history - Alexander the Great

Role Model - My father, Yiannis Davos

 

 

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.
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

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What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

Spider-Man: No Way Home

Director: Jon Watts

Stars: Tom Holland, Zendaya, Jacob Batalon 

Rating:*****

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

2289 - Dh10

2252 - Dh50

6025 - Dh20

6027 - Dh100

6026 - Dh200

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E4.0-litre%20flat%206-cylinder%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20PDK%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E500hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E450Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh530%2C300%20as%20tested%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
MATCH INFO

Liverpool v Manchester City, Sunday, 8.30pm UAE

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

Monster Hunter: World

Capcom

PlayStation 4, Xbox One

Countries recognising Palestine

France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra

 

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

Score

Third Test, Day 2

New Zealand 274
Pakistan 139-3 (61 ov)

Pakistan trail by 135 runs with 7 wickets remaining in the innings

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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ELiz%20Garbus%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Duke%20and%20Duchess%20of%20Sussex%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 

Result
Qualifier: Islamabad United beat Karachi Kings by eight wickets

Fixtures
Tuesday, Lahore: Eliminator 1 - Peshawar Zalmi v Quetta Gladiators
Wednesday, Lahore: Eliminator 2 – Karachi Kings v Winner of Eliminator 1
Sunday, Karachi: Final – Islamabad United v Winner of Eliminator 2

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
The bio:

Favourite film:

Declan: It was The Commitments but now it’s Bohemian Rhapsody.

Heidi: The Long Kiss Goodnight.

Favourite holiday destination:

Declan: Las Vegas but I also love getting home to Ireland and seeing everyone back home.

Heidi: Australia but my dream destination would be to go to Cuba.

Favourite pastime:

Declan: I love brunching and socializing. Just basically having the craic.

Heidi: Paddleboarding and swimming.

Personal motto:

Declan: Take chances.

Heidi: Live, love, laugh and have no regrets.

 

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
MATCH INFO

Euro 2020 qualifier

Ukraine 2 (Yaremchuk 06', Yarmolenko 27')

Portugal 1 (Ronaldo 72' pen)

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Martin Sabbagh profile

Job: CEO JCDecaux Middle East

In the role: Since January 2015

Lives: In the UAE

Background: M&A, investment banking

Studied: Corporate finance

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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UAE Premiership

Results
Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes

Fixture
Friday, March 29, Abu Dhabi Harlequins v Jebel Ali Dragons, The Sevens, Dubai

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.”

Challenge Cup result:

1. UAE 3 faults
2. Ireland 9 faults
3. Brazil 11 faults
4. Spain 15 faults
5. Great Britain 17 faults
6. New Zealand 20 faults
7. Italy 26 faults

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Updated: December 20, 2022, 4:31 AM