CHELSEA
Chelsea striker Demba Ba has completed his move to Besiktas, the Turkish club have announced on their official website.
Besiktas claim the deal for the 29-year-old Senegal striker is worth 6million Euros (£4.7m).
Ba arrived in Istanbul on Wednesday to undergo a medical and pose with the number nine jersey he will wear next season.
In quotes on the Besiktas website, Ba said: “I’ve had a lot of positive feedback about Besiktas and Istanbul from my Senegalese friends in Turkey.
“To play in a Muslim country and in a new stadium is definitely very exciting.
“I know what my coach Slaven Bilic expects from me, and I am open to all sorts of competition.
“Since Besiktas fans like hard-working and spirited players, I wiill give everything I’ve got in order not to disappoint them.”
Also, Chelsea have completed the signing of Filipe Luis from Atletico Madrid, the Premier League club have announced.
The London club reached an agreement to sign the left-back from the Spanish champions on Wednesday and have now agreed terms on a three-year deal.
“Chelsea Football Club is delighted to announce the signing of Filipe Luis from Atletico Madrid,” read a statement on the club’s official website. “The Brazilian defender has signed a three-year deal and will wear the
No 5 shirt.”
HULL CITY
Hull City will begin their debut European campaign with a tie against either AS Trencin of Slovakia or Serbia’s Vojvodina.
The FA Cup finalists, who were beaten 3-2 by Arsenal at Wembley Stadium in May, were in the draw yesterday for the Uefa Europa League third qualifying round draw and look most likely to meet the Slovakian side, who have a 4-0 lead over Vojvodina from the first leg of their second-round tie.
MANCHESTER CITY
Yaya Toure has vowed to remain at Manchester City as he asked for an end to a summer of speculation largely begun by his own agent.
Toure and his representative Dimitri Seluk spoke to Sky Sports News on Friday to confirm the Ivory Coast international’s intention to honour his contract - which runs until 2017 - at the Etihad Stadium.
“The fans have always been good to me, they’ve always been good to my family,” Toure said. “I want to stay. I will always honour my contract. I don’t think about all this speculation. It’s a big pleasure to stay and enjoy the next season.”
Toure’s agent Seluk sparked speculation about his future just days after City lifted the Premier League title - claiming Toure was hurt by the club’s failure to mark his birthday - despite a video on the club’s website showing Toure being presented with a birthday cake.
Further stories followed as Seluk claimed his client had been shown a lack of respect by City, and he was strongly linked with Paris St Germain before, in recent days, rivals Manchester United emerged as another possible destination.
But Toure described the speculation as “disappointing” as he said he owed a debt to City fans.
“Everything is fine now,” he said. “There was a lot of speculation, you know. I think sometimes it’s quite disappointing. I need to do something for the fans, it’s important to let them know. They’ve done a lot for me. The team is preparing well and we will try to win again next season.”
LIVERPOOL
Liverpool forward Iago Aspas has completed a loan move to Spanish Primera Liga side Sevilla after passing a medical with the Europa League champions. The 26 year old, who only joined Liverpool 12 months ago from Celta Vigo for a fee of £9m, but made only five Premier League starts last season, will be officially presented at the Sevilla’s Sanchez Pizjuan stadium on Monday. The deal gives the Spanish side the option of offering Aspas a three-year permanent contract once the loan deal expires.
SUNDERLAND
Goalkeeper Costel Pantilimon is gearing up for a month-long battle with Vito Mannone for a place in the Sunderland team.
The 27-year-old Romanian left Manchester City for the Stadium of Light last month in the search for regular first-team football.
To achieve that this season, he will have to oust Italian Mannone, who was voted player of the season in 2013/14.
Pantilimon told the Sunderland Echo: “At this moment, I think everyone is fighting for their position. It’s normal for everyone to work hard, train hard and after that, we’ll see what happens.”
NAPOLI
Napoli manager Rafael Benitez has set a goal target for new signing Michu following his Serie A switch from Swansea.
Michu has joined the Italian club on a season-long loan from the Swans with an option to make the deal permanent next summer.
Benitez said: “I have told Michu that I expect a certain number of goals from him just to motivate him but he first has to adapt to the team and get to know his new teammates.”
LYON
Lyon could be forced back into the transfer market after learning that midfielder Gueida Fofana faces another six months on the sidelines after ankle surgery.
The 23-year-old was injured last season and had further surgery on the problem this week.
Lyon boss Hubert Fournier confirmed the news during a press conference to introduce 22-year-old defender Lindsay Rose, whose arrival from relegated Valenciennes was confirmed on Thursday.
Fournier said Rose was a player he had admired for a long time, and one who might be needed to step straight into the side with speculation continuing regarding the future of Samuel Umtiti, who is said to favour a move away from Lyon.
“He is a player that I first saw in Ligue 2,” Fournier said of Rose. “He caught my eye, he is very powerful. Unfortunately he had a season marred by a knee injury last year, but he is a modern player with a big physical capacity.
“This was done anticipating the possible departure of Samuel Umtiti. Lindsay arrives with a lot of humility but also a fierce determination to win.”
QPR
Harry Redknapp has revealed Rio Ferdinand showed a desire to join QPR despite offers from ‘two big London clubs’.
The 35-year-old signed a one-year deal at Loftus Road on Thursday and trained with his new team-mates for the first time on Friday morning.
Ferdinand won six Premier League titles during a successful spell at Manchester United but found himself a free agent when his last contract expired at Old Trafford.
The move to Rangers not only sees Ferdinand move back to the capital but also link up with Redknapp, the man who handed him his senior professional debut in 1996.
On signing his contract, Ferdinand expressed a passion for wanting to help keep newly-promoted Rangers in the top flight and Redknapp feels that, coupled with the turning down of bigger offers, proves the ex-England captain is up for the fight.
I think he is going to be a fantastic player for the club,” Redknapp said.
“He is a top-class guy. A great role model I think, I signed him as a 14-year-old so I know him better than anybody.
“He didn’t need convincing (to join) - he wanted to come to QPR. He spoke to two top London clubs, but he wanted to come here and to play. He could have went elsewhere and maybe not played at times.
BAYERN MUNICH
Germany’s World Cup-winning captain Philipp Lahm has retired from international football, a decision he says was made before the tournament in Brazil had even begun.
The 30-year-old announced his retirement from international football with immediate effect on Friday, but he knew before flying out to South America in June that it was going to be his last tournament for Germany whatever the outcome might have been.
“Over the course of last season, I made up my mind that I was going to end my international career after the World Cup,” Lahm said in a letter posted on the German federation website.
“I informed Germany coach Joachim Low of this decision on Monday at breakfast. I’m grateful and thankful that the end of my career coincides with winning the World Cup in Brazil with the national team.”
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Mercedes-AMG GT 63 S E Performance: the specs
Engine: 4.0-litre twin-turbo V8 plus rear-mounted electric motor
Power: 843hp at N/A rpm
Torque: 1470Nm N/A rpm
Transmission: 9-speed auto
Fuel consumption: 8.6L/100km
On sale: October to December
Price: From Dh875,000 (estimate)
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.”
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
COMPANY%20PROFILE%20
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Heather, the Totality
Matthew Weiner,
Canongate
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
SNAPSHOT
While Huawei did launch the first smartphone with a 50MP image sensor in its P40 series in 2020, Oppo in 2014 introduced the Find 7, which was capable of taking 50MP images: this was done using a combination of a 13MP sensor and software that resulted in shots seemingly taken from a 50MP camera.
more from Janine di Giovanni
How Apple's credit card works
The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.
What does it cost?
Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.
What will the interest rate be?
The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts
What about security?
The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.
Is it easy to use?
Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision.
* Associated Press
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The view from The National
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
General%20Classification
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WHY%20AAYAN%20IS%20'PERFECT%20EXAMPLE'
%3Cp%3EDavid%20White%20might%20be%20new%20to%20the%20country%2C%20but%20he%20has%20clearly%20already%20built%20up%20an%20affinity%20with%20the%20place.%3Cbr%3E%3Cbr%3EAfter%20the%20UAE%20shocked%20Pakistan%20in%20the%20semi-final%20of%20the%20Under%2019%20Asia%20Cup%20last%20month%2C%20White%20was%20hugged%20on%20the%20field%20by%20Aayan%20Khan%2C%20the%20team%E2%80%99s%20captain.%3Cbr%3E%3Cbr%3EWhite%20suggests%20that%20was%20more%20a%20sign%20of%20Aayan%E2%80%99s%20amiability%20than%20anything%20else.%20But%20he%20believes%20the%20young%20all-rounder%2C%20who%20was%20part%20of%20the%20winning%20Gulf%20Giants%20team%20last%20year%2C%20is%20just%20the%20sort%20of%20player%20the%20country%20should%20be%20seeking%20to%20produce%20via%20the%20ILT20.%3Cbr%3E%3Cbr%3E%E2%80%9CHe%20is%20a%20delightful%20young%20man%2C%E2%80%9D%20White%20said.%20%E2%80%9CHe%20played%20in%20the%20competition%20last%20year%20at%2017%2C%20and%20look%20at%20his%20development%20from%20there%20till%20now%2C%20and%20where%20he%20is%20representing%20the%20UAE.%3Cbr%3E%3Cbr%3E%E2%80%9CHe%20was%20influential%20in%20the%20U19%20team%20which%20beat%20Pakistan.%20He%20is%20the%20perfect%20example%20of%20what%20we%20are%20all%20trying%20to%20achieve%20here.%3Cbr%3E%3Cbr%3E%E2%80%9CIt%20is%20about%20the%20development%20of%20players%20who%20are%20going%20to%20represent%20the%20UAE%20and%20go%20on%20to%20help%20make%20UAE%20a%20force%20in%20world%20cricket.%E2%80%9D%C2%A0%3C%2Fp%3E%0A
Top%2010%20most%20competitive%20economies
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SPECS%3A%20Polestar%203
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The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
Profile box
Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
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