Tal Ben Haim played just 15 games for Manchester City.
Tal Ben Haim played just 15 games for Manchester City.
Tal Ben Haim played just 15 games for Manchester City.
Tal Ben Haim played just 15 games for Manchester City.

Ben-Haim in at Pompey


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In a low key final day of the summer transfer window in England, Portsmouth were the busiest club, perhaps making up for lost time after the delay over Sulaiman al Fahim's takeover, signing Manchester City defender Tal Ben-Haim and Benfica's French midfielder Hassan Yebda, but allowing Croatian playmaker Niko Kranjcar to move to Tottenham.

The 27-year-old Israel centre-back Ben-Haim arrives at Fratton Park on a four-year deal with a point to prove following disappointing spells at Chelsea and City. "I'm very happy to be here at Pompey," he told the club's website. "It's a big challenge because after four games we have no points, but I'm ready." Yebda, 25, has signed on a season-long loan from Benfica. Kranjcar, who last night completed a medical and agreed to a £2million (Dh12m) move to Tottenham, will fill the gap left by his countryman Luka Modric, who broke his leg at the weekend and is out for six weeks.

Elsewhere, Aston Villa signed defender James Collins for around £5m from West Ham. Villa boss Martin O'Neill was desperate to sign experienced defenders after the retirement of skipper Martin Laursen and the sale of Zat Knight to Bolton. Sunderland defender Danny Collins, 29, moved to stoke for £2.75m. The club also sold Grant Leadbitter for up to £2.6m and fellow midfielder Carlos Edwards for up to £1.35m to Championship side Ipswich, managed by their former coach Roy Keane

Bolton have signed Croatian striker Ivan Klasnic from Nantes on a season-long loan. With the transfer window for the rest of Europe closing on Monday night, there were some late moves at some of the bigger clubs. Italy left-back Fabio Grosso joined Juventus from Olympique Lyon on a three-year contract. Juve will pay an initial ?2 million (Dh10.5m) for the 31-year-old, who scored the winning penalty in the final shootout against France when Italy won the 2006 World Cup. The fee could rise to ?3m depending on appearances.

Despite being linked with a host of Premier League clubs, Barcelona's Icelandic striker Eidur Gudjohnsen, 30, agreed to a ?2m move to French club Monaco. Elsehwere, Uefa have banned Arsenal striker Eduardo for two Champions League matches for diving to earn a penalty in a qualifying match against Celtic. Uefa's disciplinary panel made the ruling yesterday after a tele-conference. The panel said the Brazilian-born Croatia forward deceived the referee when he got the penalty decision after a challenge by Celtic goalkeeper Artur Boruc last Wednesday. Eduardo will miss Arsenal's Group H matches away to Standard Liege and at home to Olympiakos.

Liverpool manager Rafael Benitez is also in trouble, having been charged with improper conduct following comments made after their opening-weekend defeat to Tottenham, the English Football Association have confirmed. Benitez was furious at Phil Dowd's refusal to award a late penalty for what he perceived to be a foul on Andriy Voronin by Benoit Assou-Ekotto in a game his side lost 2-1. Liverpool had another penalty shout turned down shortly after when Fernando Torres cannoned a shot against Assou-Ekotto's hand. After the game Benitez said: "I think everyone could see there was a penalty, especially to Voronin, it was so clear. You can say that the hand was to the ball or the ball was to the hand, it could be, but the other one was so clear, it was unbelievable. Can you get two penalties at an away ground? No. With this referee, I knew that this was impossible."

* With agencies

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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

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.”

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

'The Coddling of the American Mind: How Good Intentions and Bad Ideas are Setting up a Generation for Failure' ​​​​
Greg Lukianoff and Jonathan Haidt, Penguin Randomhouse

UAE currency: the story behind the money in your pockets
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Groom and Two Brides

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Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

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