Allan Saint-Maximin: Saudi Pro League will soon become one of the best in world

Allan Saint-Maximin says he is certain the Saudi Pro League will become one of the top competitions in the world in “a couple of years” after making his debut in the competition with Al Ahli on Friday.

The Frenchman, 26, was one of the stars on display in the league’s 2023/24 season opener at Prince Abdullah Al Faisal Stadium in Jeddah, where hosts Ahli defeated Al Hazem 3-1.

Former Liverpool forward Roberto Firmino captained the side and scored all three of his team’s goals, with fellow summer signings Riyad Mahrez, Saint-Maximin, Edouard Mendy, Franck Kessie and Roger Ibanez all starting.

Saint-Maximin, signed last month from Newcastle United for a reported $35 million fee, represents part of Saudi football’s substantial revamp, with players such as Karim Benzema, Sadio Mane, N’Golo Kante and Fabinho joining December recruit Cristiano Ronaldo in the kingdom.

The league has publicly stated its objective to make the Saudi Pro League one of the top 10 domestic competitions in the world.

Ahli, champions Al Ittihad, Al Hilal and Al Nassr, are now majority-owned by the country's Public Investment Fund (PIF). All 18 teams in the league are allowed up to eight foreign players in their squad.

Speaking after Friday's opening victory, Saint-Maximin said: “This league in a couple of years is going to be one of the top leagues – I’m sure about that. You can see there are so many good players. So if you put in all the teams eight top players you can be sure the league is going to be very good.

“You know the teams like Al Nassr, Al Hilal, Al Ittihad, us, we’re going to have a big fight against [each other]. And when we look at Al Ettifaq, there are many players like [Jordan] Henderson, Moussa Dembele, so you know many more players and even young players are going to come to Saudi.

“And I just want to say thanks to them because they completely changed my life. I will be so grateful of them to give me that opportunity.

Ahli, three-time Saudi champions, are back in the league following last season's First Division title success – the only campaign in their history spent outside the top tier.

Saint-Maximin, who excelled on his debut, said he has been taken aback by the fan reaction to his move. On Friday, he was seen pre-match capturing video of the Ahli supporters on his phone.

“I didn’t expect that to be honest,” he said. “I heard many things about the fans, I saw many videos. But I didn’t know what I was going to see.

“But straight away I saw the music, my name [being sung] and everything. So I just want to say thanks to the fans, and I think I gave something good to them tonight on the pitch.

“That’s my job. And I will keep playing with my quality and I hope they’re going to enjoy the season with me.”

Saint-Maximin spent almost four years at Newcastle, making 111 appearances following his move from Nice in 2019. However, last season injury restricted him to only 12 league starts as the club, who are also majority owned by PIF, finished fourth and thus qualified for the Uefa Champions League for the first time in 20 years.

Asked about Newcastle’s fans, Saint-Maximin said: “I love them. That’s life, sometimes. As I always said, the most important is the fans and the club.

“I’m not bigger than the club. If the club think that’s the best option for them and, for sure, Al Ahli gave me a great opportunity as well.

“If both parties are happy with that and if this can help Newcastle to finish in a better position or to win something this season, I will be very happy.

“Newcastle supporters will always stay in my heart. I always think about them because they gave me everything. And without them I will never have that opportunity to sign in Al Ahli.

“I’m a guy who never forgets and I hope they never forget what I gave to them.”

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.”

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”