Dubai's Zabeel Investments has pulled out of its offer to buy second-tier English football club Charlton Athletic FC due to a combination of the "worsening economic climate" and the "current debate surrounding foreign ownership of football clubs" it said in a statement early this afternoon. Instead it said it would focus on "domestic opportunities" in Dubai that "complement the current Zabeel Investments portfolio", the statement added. Only 12 days ago, the Charlton Athletic Football Club confirmed it had received "an indicative cash offer" to buy the club from Zabeel Investments, a Dubai-based investment company that had previously failed to buy Liverpool FC, for an undisclosed fee. On Oct 10, the south London club confirmed in a statement that it would enter into a period of due diligence with Zabeel stating "should the offer be made formally to shareholders, the board would recommend shareholders to accept it." However, less than two weeks later the Dubai company dropped its bid. The credit crunch and the possibility of a global recession is rapidly taking its toll on companies in the Gulf and across the world. Two days before Zabeel's initial bid for Charlton UK Football Association chairman Lord Triesman warned that English football had amassed debts of around £3 billion (Dh17.8bn) at all levels of the game adding that a top club "could fold" in the current economic climate.
Zabeel Investments has been looking for an opportunity to invest in an English club for some time. Last year it pulled out of talks to buy the Premier League team Liverpool FC, and last month pulled out of talks to buy Newcastle FC when its current owner, Mike Ashley, was in the emirate trying to sell the club. Recent media reports suggested that Zabeel could drop its interest in Charlton and reignite its interest in the Merseyside club due to Liverpool FC being reportedly put up for sale by current US owners, Tom Hicks and George Gillett. The American duo have reportedly hired Merrill Lynch to find a buyer.
However, Zabeel quickly denied the reports and today went as far as saying it has "no current intention" to acquire "any English club for the foreseeable future" therefore killing off any future rumours it could purchase a financially distressed English club. A spokesman for Zabeel Investments said: "Zabeel Investments has the highest regard for both the supporters of Charlton and the way in which Charlton is managed and wishes the team every success in their quest for promotion this season and moving forward."
jbennett@thenational.ae
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Killing of Qassem Suleimani
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Sheikh Zayed's poem
When it is unveiled at Abu Dhabi Art, the Standing Tall exhibition will appear as an interplay of poetry and art. The 100 scarves are 100 fragments surrounding five, figurative, female sculptures, and both sculptures and scarves are hand-embroidered by a group of refugee women artisans, who used the Palestinian cross-stitch embroidery art of tatreez. Fragments of Sheikh Zayed’s poem Your Love is Ruling My Heart, written in Arabic as a love poem to his nation, are embroidered onto both the sculptures and the scarves. Here is the English translation.
Your love is ruling over my heart
Your love is ruling over my heart, even a mountain can’t bear all of it
Woe for my heart of such a love, if it befell it and made it its home
You came on me like a gleaming sun, you are the cure for my soul of its sickness
Be lenient on me, oh tender one, and have mercy on who because of you is in ruins
You are like the Ajeed Al-reem [leader of the gazelle herd] for my country, the source of all of its knowledge
You waddle even when you stand still, with feet white like the blooming of the dates of the palm
Oh, who wishes to deprive me of sleep, the night has ended and I still have not seen you
You are the cure for my sickness and my support, you dried my throat up let me go and damp it
Help me, oh children of mine, for in his love my life will pass me by.
The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
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Super 30
Produced: Sajid Nadiadwala and Phantom Productions
Directed: Vikas Bahl
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Teri%20Baaton%20Mein%20Aisa%20Uljha%20Jiya
How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
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May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final
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House-hunting
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- Tower Hamlets, London
Paatal Lok season two
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Rating: 4.5/5
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Europe’s rearming plan
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CONFIRMED%20LINE-UP
The%20specs%20
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
SPECS
Zayed Sustainability Prize
What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
Champion%20v%20Champion%20(PFL%20v%20Bellator)
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COMPANY%20PROFILE
COMPANY%20PROFILE
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
RESULT
Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')
SPECS
Company%20Profile
Civil%20War
JOKE'S%20ON%20YOU
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
COMPANY%20PROFILE
Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
Specs%20
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
Bridgerton%20season%20three%20-%20part%20one
The%20Afghan%20connection
War on waste
OPINIONS ON PALESTINE & ISRAEL
MEDIEVIL%20(1998)
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Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA