Antonio Conte's era at Tottenham starts to take shape after hectic transfer deadline day

Perhaps, within the space of a day, Tottenham’s transfer window went from being one of the worst to among the best. Maybe at least Daniel Levy spared himself the rage of Antonio Conte, a manager whose frustrations tend to become public very quickly. Certainly Tottenham could view Arsenal’s inability to recruit and contrast it with their two high-calibre recruits, in the bought Rodrigo Bentancur and the borrowed Dejan Kulusevski.

Perhaps Conte was as pleased by the departures. Unsubtle as ever, he signalled his feelings with the teamsheet for Tottenham’s trip to Chelsea. The bench did not contain Dele Alli, Tanguy Ndombele or Giovani Lo Celso. If Conte had quickly tired of enigmas and underachievers, now each is gone, along with Bryan Gil.

In its own way, that represents an indictment: Ndombele and Lo Celso are the two most expensive signings in Spurs’ history and have been loaned out. While Lyon have an option to buy Ndombele for €65 million, in reality no one will pay that much for him. Nor are Villarreal likely to allow Tottenham to recoup their investment in Lo Celso. Gil feels a swift failure, a seemingly auspicious arrival who only got 86 minutes of Premier League football.

Alli’s case may be the saddest, given the heights he touched in his first two seasons at White Hart Lane. A permanent transfer to Everton is a definitive break, confirmation he cannot return to those levels in a Spurs shirt.

That he left for no initial fee indicates how his star has waned and how Spurs should have sold him sooner. But it also forms part of a broader issue, the breakdown of Tottenham’s midfield as an attacking unit. The Conte clearout has taken in three players who rarely provided the X-factor under him, Nuno Espirito Santo, Jose Mourinho and, Alli apart, Mauricio Pochettino.

In contrast, it is notable he kept his quick wingers, in Lucas Moura and the Ajax target Steven Bergwijn. Reshaping the squad still gives him the choice of both 3-4-3 and 3-5-2. Nevertheless, it is also revealing that the two newcomers are very different from the duo they had initially targeted.

Dele Alli, left, and Tanguy Ndombele both left Tottenham in January, the former on an initial free transfer and the latter on loan. Reuters

Their window looked a chastening failure when Adama Traore chose Barcelona and Luis Diaz Liverpool instead. Bentancur and Kulusevski are scarcely like-for-like alternatives. There is no attack-minded right wing-back, meaning the limited Emerson Royal will presumably continue there.

Nor is there a prolific scorer to ease the burden on Harry Kane and Son Heung-min. Perhaps neither has the possibility to be as transformative as Diaz. Kulusevski can operate in the front three and was one of Serie A’s most inventive players in 2019-20 but lacks the Colombian’s prolific return.

But they do offer an injection of craft and creativity, along with a combination of pedigree and potential. Conte may see Bentancur as a classier passer than Pierre-Emile Hojbjerg and Oliver Skipp, though it could appear that he is collecting defensive midfielders. The Uruguayan is 24, the Swede, who Tottenham have an option to buy, 21. Each is experienced for his years.

Dejan Kulusevski, left, and Rodrigo Bentancur, right, both moved to Tottenham from Juventus on deadline day. Getty Images

That Tottenham have employed the former Juventus CFO Fabio Paratici as managing director of football always offered the chance they could raid the Italian market; Paratici seems to have returned to his homeland to strike two fine deals.

While Conte can appear a hardliner, he has a track record of moulding midfields and midfielders, with very different players, in imaginative ways, providing they are willing to buy into his work ethic and follow his instructions. He can be brutally decisive and was quick to give up on Ndombele, followed by Lo Celso and Alli, but the club have been quick to dispose of the unwanted. Now Conte’s Tottenham is taking shape.

In pictures: 90 notable January transfers

Company profile

Name: Thndr

Started: October 2020

Founders: Ahmad Hammouda and Seif Amr

Based: Cairo, Egypt

Sector: FinTech

Initial investment: pre-seed of $800,000

Funding stage: series A; $20 million

Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital

The biog

Marital status: Separated with two young daughters

Education: Master's degree from American Univeristy of Cairo

Favourite book: That Is How They Defeat Despair by Salwa Aladian

Favourite Motto: Their happiness is your happiness

Goal: For Nefsy to become his legacy long after he is gon

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Killing of Qassem Suleimani

National Editorial: Suleimani has been killed, now we must de-escalate

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Damien McElroy: A CEO tasked with spreading Iran's influence

Hussein Ibish: Trump's order on solid constitutional ground

Simon Waldman: Cautious Israel keeping a low profile

Fines for littering

In Dubai:

Dh200 for littering or spitting in the Dubai Metro

Dh500 for throwing cigarette butts or chewing gum on the floor, or littering from a vehicle.
Dh1,000 for littering on a beach, spitting in public places, throwing a cigarette butt from a vehicle

In Sharjah and other emirates
Dh500 for littering - including cigarette butts and chewing gum - in public places and beaches in Sharjah
Dh2,000 for littering in Sharjah deserts
Dh500 for littering from a vehicle in Ras Al Khaimah
Dh1,000 for littering from a car in Abu Dhabi
Dh1,000 to Dh100,000 for dumping waste in residential or public areas in Al Ain
Dh10,000 for littering at Ajman's beaches

Gremio 1 Pachuca 0

Gremio Everton 95’

The specs

Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now

While you're here

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Results

2.30pm: Dubai Creek Tower – Handicap (PA) Dh40,000 (Dirt) 1,200m; Winner: Marmara Xm, Gary Sanchez (jockey), Abdelkhir Adam (trainer)

3pm: Al Yasmeen – Maiden (PA) Dh40,000 (D) 1,700m; Winner: AS Hajez, Jesus Rosales, Khalifa Al Neyadi

3.30pm: Al Ferdous – Maiden (PA) Dh40,000 (D) 1,700m; Winner: Soukainah, Sebastien Martino, Jean-Claude Pecout

4pm: The Crown Prince Of Sharjah – Prestige (PA) Dh200,000 (D) 1,200m; Winner: AF Thayer, Ray Dawson, Ernst Oertel

4.30pm: Sheikh Ahmed bin Rashid Al Maktoum Cup – Handicap (TB) Dh200,000 (D) 2,000m; Winner: George Villiers, Antonio Fresu, Bhupat Seemar

5pm: Palma Spring – Handicap (PA) Dh40,000 (D) 2,000m; Winner: Es Abu Mousa, Antonio Fresu, Abubakar Daud

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks.

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.

8. Pillar 2 implementation

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Slow loris biog

From: Lonely Loris is a Sunda slow loris, one of nine species of the animal native to Indonesia, Malaysia, Thailand and Singapore

Status: Critically endangered, and listed as vulnerable on the International Union for Conservation of Nature red list due to growing demand in the global exotic pet trade. It is one of the most popular primate species found at Indonesian pet markets

Likes: Sleeping, which they do for up to 18 hours a day. When they are awake, they like to eat fruit, insects, small birds and reptiles and some types of vegetation

Dislikes: Sunlight. Being a nocturnal animal, the slow loris wakes around sunset and is active throughout the night

Superpowers: His dangerous elbows. The slow loris’s doe eyes may make it look cute, but it is also deadly. The only known venomous primate, it hisses and clasps its paws and can produce a venom from its elbow that can cause anaphylactic shock and even death in humans

The specs

Engine: 2.0-litre 4-cyl turbo

Power: 247hp at 6,500rpm

Torque: 370Nm from 1,500-3,500rpm

Transmission: 10-speed auto

Fuel consumption: 7.8L/100km

Price: from Dh94,900

On sale: now

'Fantastic Beasts: The Secrets of Dumbledore'

Rating: 3/5

Directed by: David Yates

Starring: Mads Mikkelson, Eddie Redmayne, Ezra Miller, Jude Law

Zayed Sustainability Prize

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Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

Gothia Cup 2025

4,872 matches

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

RESULTS

6.30pm: Handicap (rated 95-108) US$125,000 2000m (Dirt).
Winner: Don’t Give Up, Gerald Mosse (jockey), Saeed bin Suroor (trainer).

7.05pm: Handicap (95 ) $160,000 2810m (Turf).
Winner: Los Barbados, Adrie de Vries, Fawzi Nass.

7.40pm: Handicap (80-89) $60,000 1600m (D).
Winner: Claim The Roses, Mickael Barzalona, Salem bin Ghadayer.

8.15pm: UAE 2000 Guineas Trial (Div-1) Conditions $100,000 1,400m (D)
Winner: Gold Town, William Buick, Charlie Appleby.

8.50pm: Cape Verdi Group 2 $200,000 1600m (T).
Winner: Promising Run, Patrick Cosgrave, Saeed bin Suroor.

9.25pm: UAE 2000 Guineas Conditions $100,000 1,400m (D).
Winner: El Chapo, Luke Morris, Fawzi Nass.

Profile

Company: Libra Project

Based: Masdar City, ADGM, London and Delaware

Launch year: 2017

Size: A team of 12 with six employed full-time

Sector: Renewable energy

Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.

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.”

COMPANY%20PROFILE

%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A

The 10 Questions

Is there a God?
How did it all begin?
What is inside a black hole?
Can we predict the future?
Is time travel possible?
Will we survive on Earth?
Is there other intelligent life in the universe?
Should we colonise space?
Will artificial intelligence outsmart us?
How do we shape the future?

'The Woman in the House Across the Street from the Girl in the Window'

Director:Michael Lehmann

Stars:Kristen Bell

Rating: 1/5

Antonio Conte's era at Tottenham starts to take shape after hectic transfer deadline day

Italian manager might even be as pleased with his underachieving departures than the two high-calibre recruits

In pictures: 90 notable January transfers

Company profile

The biog

How to protect yourself when air quality drops

Killing of Qassem Suleimani

Fines for littering

Gremio 1 Pachuca 0

The specs

While you're here

Results

Ten tax points to be aware of in 2026

Slow loris biog

The specs

'Fantastic Beasts: The Secrets of Dumbledore'

Zayed Sustainability Prize

Wicked: For Good

Gothia Cup 2025

RESULTS

Profile

READ MORE ABOUT CORONAVIRUS

COMPANY%20PROFILE

The 10 Questions

'The Woman in the House Across the Street from the Girl in the Window'

Antonio Conte's era at Tottenham starts to take shape after hectic transfer deadline day

Italian manager might even be as pleased with his underachieving departures than the two high-calibre recruits

In pictures: 90 notable January transfers

Company&nbsp;profile

The biog

How to protect yourself when air quality drops

Killing of Qassem Suleimani

Fines for littering

Gremio 1 Pachuca 0

The&nbsp;specs

While you're here

Results

Ten tax points to be aware of in 2026

Slow loris biog

The specs

'Fantastic&nbsp;Beasts:&nbsp;The&nbsp;Secrets&nbsp;of&nbsp;Dumbledore'

Zayed Sustainability Prize

Wicked: For Good

Gothia Cup 2025

RESULTS

Profile

READ MORE ABOUT CORONAVIRUS

COMPANY%20PROFILE

The 10 Questions

'The&nbsp;Woman&nbsp;in&nbsp;the&nbsp;House&nbsp;Across&nbsp;the&nbsp;Street&nbsp;from&nbsp;the&nbsp;Girl&nbsp;in&nbsp;the&nbsp;Window'

Company profile

The specs

'Fantastic Beasts: The Secrets of Dumbledore'

'The Woman in the House Across the Street from the Girl in the Window'