For Rafa Benitez, the Inter Milan coach, the Club World Cup will be a chance to exorcise old demons and possibly save his job.
When he was the manager of Liverpool, Benitez lost the 2005 Club World Cup to Sao Paulo.
He comes into the 2010 tournament hoping his injury-plagued Inter squad shows the dominance they displayed last year in claiming a treble of titles.
The Italian media have suggested anything short of the championship in Abu Dhabi could end Benitez's short reign.
Massimo Moratti, the club president, has so far stuck by the embattled coach but the club sit sixth in Series A, have already accumulated as many losses as they did all last season and suffered a 3-0 defeat to Werder Bremen on Tuesday night in the Champions League.
"I think that for all of us it will be an important event," Benitez said.
Inter won a prior incarnation of the Club World Cup in 1964 and 1965 when it was called the Intercontinental Cup.
"The Club World Cup is the aim, now everything changes, the mentality changes. For me, as a coach it is an opportunity to win an incredibly important tournament at club level," said Benitez. "I remember the past [with Liverpool], but I must forget and think about the future, because I think it is more important to move on and believe we can win this time."
Inter, who should be boosted by the return of Diego Milito from injury, have a bye through to the semi-finals, where they will face either Seongnam Ilhwa, the Asian Champions League winners, or Al Wahda, the Pro League champions who last night beat Hekari United in the opening game.
A semi-final victory will likely mean a final against Internacional, a team who won their first Club World Cup title in 2006 when they beat Barcelona 1-0.
"For now, we have concentrated on Brazil's Internacional. I myself watched them play one match and I thought they were fast and technically strong," Benitez said in an interview on Fifa's website. "We'll also take a closer look at our other rivals, because although we're aware of our strengths, we respect the brand of football played on every continent."
Like Inter, Internacional have struggled domestically since earning a spot in the tournament by winning the Copa Libertadores final earlier this year. They are eighth in the Brazilian standings.
Vitorio Piffero, the club president, said Internacional will head to the competition without the underdog status they had in 2006.
"Now we have a bigger responsibility," Piffero told the team's website. "It's more complicated than it was in 2006."
Internacational have to beat either TP Mazembe of DR Congo or Mexico's Pachuca to reach the final.
"Our biggest challenge is the semi-final, because that's our first match," Bolivar, the Internacional defender, said. "We won't yet talk about a possible match against Inter Milan. That's for the press to do."
For their part, Pachuca, the Concacaf champions, are aiming to end a bad run of form from Mexican clubs at the tournament since Necaxa's third place in 2000.
"It's true, every time a Mexican club goes to a Club World Cup things start to go wrong," Edgar Benitez, the Pachuca forward, told the Fifa website. But the Paraguayan said he expected better this time around and felt the team were well positioned to reach the finals.
"We're all really hoping that we can win our first game and take on Brazilian side Inter, who play very good football," the Mexican club's attacker said. "We'd then give it our best shot against them because we're dreaming of a meeting with the European champions.
"But we have to take things one step at time, because we know our African opponents are a very good side too."
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COMPANY%20PROFILE
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How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
The specs
Engine: 2.4-litre 4-cylinder
Transmission: CVT auto
Power: 181bhp
Torque: 244Nm
Price: Dh122,900
First Person
Richard Flanagan
Chatto & Windus
The specs: 2018 Range Rover Velar R-Dynamic HSE
Price, base / as tested: Dh263,235 / Dh420,000
Engine: 3.0-litre supercharged V6
Power 375hp @ 6,500rpm
Torque: 450Nm @ 3,500rpm
Transmission: Eight-speed automatic
Fuel consumption, combined: 9.4L / 100kms
The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Three ways to limit your social media use
Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.
1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.
2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
THE SPECS
Engine: 2.0-litre 4-cylinder turbo
Power: 275hp at 6,600rpm
Torque: 353Nm from 1,450-4,700rpm
Transmission: 8-speed dual-clutch auto
Top speed: 250kph
Fuel consumption: 6.8L/100km
On sale: Now
Price: Dh146,999