In the first week of last December, Antonio Conte and Ole Gunnar Solskjaer headed east, rallying their players for a D-Day in Europe. Conte spoke of glimpsing “a shaft of light” for his Internazionale team as they sought the victory they needed to progress from a wildly unpredictable Champions League group, away at Shakhtar Donetsk.
Manchester United’s manager, looking ahead to a decisive last group game at RB Leipzig, a must-win for Solskjaer’s team after a rollercoaster of a campaign, talked of seeing the team's “belief coming back”.
Both Conte and Solskjaer failed on their last-day missions, their clubs exiting Europe’s principal competition at the first stage. It was a damaging shortfall for two so-called ‘superclubs’, and prompted familiar criticisms of the respective coaches.
Solskjaer’s game-management was scrutinised, after Leipzig went 2-0 up after 13 minutes, and three ahead before United launched an inadequate, two-goal comeback. The habit of United falling behind before finding their gears had already become a feature of the Solskjaer era. Some of the comebacks had been rousingly successful, but when they weren’t it was costly.
In Italy, Conte heard the same critique that has lurked throughout his dazzlingly effective career as a coach in domestic leagues - the fact that he seldom matches those successes in Europe. In five attempts at the Champions League, with Inter, Chelsea and Juventus, he has suffered three group-stage exits.
Conte’s best European showing? Inter’s 2020 final in the Europa League, narrowly lost to Spain’s Sevilla. Solskjaer can mirror that precisely. His United went on from their dispiriting night in Leipzig to a Europa League final they lost only on sudden-death penalty shoot-out to Spain’s Villarreal.
Conte’s Inter meanwhile went out of the Champions League at Shakhtar and on to the Serie A title last May, their head coach promptly departing, dissatisfied with the resources available to him. Out of work, Conte now lurks as a tempting alternative to Solskjaer as United’s decision-makers procrastinate over whether repeated shortcomings, most visible in the 5-0 home defeat to Liverpool, mean a more experienced manager than Solskjaer is needed.
Manchester United 0-5 Liverpool ratings
There is plenty to recommend Conte. His last job in the Premier League, at Chelsea, yielded a title in his first season. He wins domestic titles - five, spread across England and Italy - with every elite club he joins. He might even resolve the puzzle that is Paul Pogba. He was a helpful shepherd, at Juventus, to a young Pogba’ career at Juventus.
Above all, there is Conte’s rigour, his studious attention to system and positional discipline, and the perfectionist drive he displays so vividly on the touchline. “He obsesses over every last detail, and he’s allergic to mistakes,” remarked Andrea Pirlo, who worked under Conte at Juventus. “He’s not a guru or a magician, but when Conte speaks, his words blast through you, and settle deep within you.”
Conte is understood to be interested in the United job, even prepared to break his usual practice of only joining clubs between seasons if Solskjaer’s position becomes vacant after the next two or three matches, beginning with United’s trips to Tottenham Hotspur and Atalanta.
Defeat in the second of those could point United towards a similarly nervous finish to a competitive Champions League group as last season. United’s executives would pause to wonder at whether Conte is the best man to set about a European rescue.
They would certainly pause before imagining he is a long-term guarantor of a transition to the pre-eminent, consistently successful United of 20 years ago. Conte does not linger in his jobs. At Juventus, he left after three seasons and three successive titles. At Chelsea, he became frustrated and his employers exasperated with his demands after two years. After two seasons with Inter, the combination of a sudden financial crisis and Conte’s budget expectations made a departure inevitable.
He left Inter knowing that his glittering CV in domestic football put him at the front of the queue for the next superclub seeking a new head coach. He also knows that nobody will take him on blind. This time three years ago, the last time Conte was seeking work in mid-season, he was close to joining Real Madrid. Resistance from within the dressing-room played a part in Madrid not hiring Conte.
In a thinly-veiled reference to Conte’s reputation, the then Madrid captain Sergio Ramos spoke of “respect being earned, not imposed”. Ramos had clashed with Jose Mourinho at Madrid, and was not ready to welcome another combative martinet as manager.
Conte will not like it, but the idea he is too like Mourinho clouds some at United’s perception of him too.
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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Date of launch: November 2018
Founder: Monark Modi
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Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
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- Individuals must register on UAE Drone app or website using their UAE Pass
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- Should have a live feed of the drone flight
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Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
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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.”
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(Parlophone)
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Uefa Champions League semi-final, first leg
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1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
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4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.