Portland Timbers forward Lucas Melano, left, of Argentina,and forward Fanendo Adi, of Nigeria, raise the trophy after defeating the Columbus Crew 2-1 in the MLS Cup championship soccer game Sunday, Dec. 6, 2015, in Columbus, Ohio. (AP Photo/Jay LaPrete)
Portland Timbers forward Lucas Melano, left, of Argentina,and forward Fanendo Adi, of Nigeria, raise the trophy after defeating the Columbus Crew 2-1 in the MLS Cup championship soccer game Sunday, Dec. 6, 2015, in Columbus, Ohio. (AP Photo/Jay LaPrete)
Portland Timbers forward Lucas Melano, left, of Argentina,and forward Fanendo Adi, of Nigeria, raise the trophy after defeating the Columbus Crew 2-1 in the MLS Cup championship soccer game Sunday, Dec. 6, 2015, in Columbus, Ohio. (AP Photo/Jay LaPrete)
Portland Timbers forward Lucas Melano, left, of Argentina,and forward Fanendo Adi, of Nigeria, raise the trophy after defeating the Columbus Crew 2-1 in the MLS Cup championship soccer game Sunday, De

Diego Valeri wastes little time as Portland Timbers edge Columbus Crew to capture MLS crown


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Washington // Portland’s Diego Valeri and Rodney Wallace scored in the first seven minutes and the Timbers defeated host Columbus 2-1 Sunday to win the Major League Soccer Cup playoff final.

It was the first time the Timbers had lifted the champion’s trophy, denying Columbus a second MLS title after their breakthrough in 2008.

“This is special for us,” said Valeri, who was named the match’s Most Valuable Player. “I’m really thankful. I’m happy for myself and my teammates.”

In only their fifth MLS season, the Timbers became just the third expansion club to win the crown, after the Chicago Fire in 1998 and Real Salt Lake in 2009. It was the city’s first pro sports crown since the 1977 NBA Trail Blazers.

A blunder from Crew goalkeeper Steve Clark gave Portland the fastest goal in MLS championship match history, the Timbers jumping ahead 1-0 on Valeri’s goal after only 27 seconds.

Scroll down for video clip of Valeri goal

Columbus played the ball back to Clark and the American kicked it to his left, away from onrushing attacker Valeri, to set up a long clearing blast.

But the 29-year-old Argentine striker, who missed the start of the season after suffering a left knee injury at the end of last season, timed a slide perfectly and blocked the kick, the ball rolling into the unguarded net as Clark watched helplessly.

“We were trying to press from the first minute and we got that goal,” Valeri said. “It was special.”

Portland doubled the margin to 2-0 in the seventh minute on a diving header by Costa Rican forward Wallace.

The play began when Liberian midfielder Darlington Nagbe kept the ball from going out of bounds at the sideline. He sent the ball to Argentine forward Lucas Milano, whose pinpoint centering pass was nodded into the goal.

Read more: Portland Timbers want 'biggest trophy' but Columbus Crew stand in the way as MLS Cup finalists are set

The Crew, which had allowed only three goals in four prior playoff matches, answered in the 18th minute thanks to Sierra Leone striker Kei Kamara, who had been questionable for the match after an ankle injury in Saturday’s final practice.

Portland’s Norwegian netminder, Adam Kwarasey, botched a catch of a centering pass and the ball was twice kicked out of his reach before Kamara ended the scramble in front of the goal by blasting the ball home.

In the second half, Columbus held off Portland with some help from the woodwork. The ball deflected off the crossbar, struck crew defender Michael Parkhurst in the captain’s armband without a handball call, and then deflected off the right post before Parkhurst cleared it off the line.

In the 71st minute, Portland’s Fanendo Adi nodded the ball off the right post and Clark’s chest, the Nigerian’s rebound bouncing over the backline for a Portland corner kick.

In the 81st minute, Portland’s Nat Borches headed a shot from point-blank range but Clark made the grab to keep the Crew in the hunt.

A final free kick into the penalty area by Columbus went untouched and the closing whistle came moments later, touching off a celebration by the Timbers.

“The way we shut down that second half defensively (was great),” Timbers coach Caleb Porter said. “We’ve taken some grief for playing defensively but a couple years ago I wouldn’t have been able to put the team out there and close the game out to win. And it’s about winning.”

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What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

Nancy 9 (Hassa Beek)

Nancy Ajram

(In2Musica)

Know your Camel lingo

The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home

Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless

Asayel camels - sleek, short-haired hound-like racers

Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s

Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

Results

2pm: Handicap (PA) Dh80,000 1,600m; Winner: AF Al Baher, Bernardo Pinheiro (jockey), Ernst Oertel (trainer).

2.30pm: Handicap (TB) Dh100,000 1,600m; Winner: Talento Puma, Xavier Ziani, Salem bin Ghadayer.

3pm: Handicap (TB) Dh90,000 1,950m; Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.

3.30pm: Jebel Ali Stakes Listed (TB) Dh500,000 1,950m; Winner: Mark Of Approval, Patrick Cosgrave, Mahmood Hussain.

4pm: Conditions (TB) Dh125,000 1,400m; Winner: Dead-heat Raakez, Jim Crowley, Nicholas Bachalard/Attribution, Xavier Ziani, Salem bin Ghadayer.

4.30pm: Jebel Ali Sprint (TB) Dh500,000 1,000m; Winner: AlKaraama, Antonio Fresu, Musabah Al Muhairi.

5pm: Handicap (TB) Dh100,000 1,200m; Winner: Wafy, Richard Mullen, Satish Seemar.

5.30pm: Handicap (TB) Dh90,000 1,400m; Winner: Cachao, Tadhg O’Shea, Satish Seemar.

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UAE currency: the story behind the money in your pockets
The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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