When Newcastle United's players trudged off the pitch at the end of their 1-1 draw with fellow Premier League strugglers Watford in January, there was an air of despondency hanging over St James' Park.
A late leveller from Joao Pedro had denied Eddie Howe's team only their second victory of the season leaving Newcastle 19th in the table, one point and one place ahead of bottom club Burnley, who had three games in hand.
“We've damaged ourselves to a point ,” said Howe, whose team had been knocked out of the FA Cup by third-tier Cambridge a week earlier. “I just hope it doesn't leave mental scars for the players.”
Fast forward less than two months, and a very different picture has emerged for the Tyneside club after a run of results that has lifted them up to 14th, seven points clear of the relegation zone.
Only Liverpool (22) and Manchester City (19) have secured more points than the Magpies' 17 since the turn of the year and Newcastle have not lost a league game since their 4-0 home thrashing by reigning champions City on December 19.
The black and whites are unbeaten in the first seven games of the calendar year for the first time since 2004, when Bobby Robson was in charge and the club's fifth-place finish, and subsequent failure to seal a Champions League spot, would ultimately lead to their manager being sacked months later.
Little did fans know at the time but Newcastle would only finish as high as fifth once in the 15 top-flight seasons of mid-table mediocrity and relegation battles that have followed.
With a drop down to the second tier looking more likely than not, the club's Saudi Arabia-backed consortium bankrolled a busy month of transfer-window action with Kieran Trippier, Chris Wood, Bruno Guimaraes, Dan Burn and Matt Targett all arriving in January.
Helping shore up a porous defence was priority No 1 and the signings of Trippier, Burn and Targett – from Atletico Madrid, Brighton and Aston Villa, respectively – have given the backline some much-needed steel.
West Ham 1 Newcastle 1: player ratings
Even the potential loss of La Liga-winning England international Trippier for the rest of the season to a foot injury has not stalled the recovery effort of a side who face Southampton on the south coast on Thursday.
But at the heart of the resurgence have been players signed by previous managers who have struggled for form and fitness. Saturday's narrow 2-1 home win over Brighton was secured thanks to two goals in as many minutes from Scottish winger Ryan Fraser and Swiss defender Fabian Schar.
Fraser, signed on a free transfer from Bournemouth by previous manager Steve Bruce, is enjoying his best run of form since joining the club in 2020, masterminded by his former Cherries coach, Howe. Schar was brought in by Rafael Benitez in 2018 but has struggled to hold down a regular starting place since the Spaniard left in 2020.
“It’s all positive for me … the place is a lot happier,” Fraser told NUFCTV last month. “I don’t want to say anything about the previous set-up, it’s disrespectful, but I think everyone is seeing the changes.”
It is in Newcastle's midfield three where the biggest transformation has occurred. Such has been the form of Jonjo Shelvey, Joelinton and Joe Willock – dubbed “Jonjo Joe-Jo” by fans – that Guimaraes, their £34 million signing from Lyon, has been restricted to cameo appearances from the bench.
Shelvey is enjoying his role at the base of the trio, while Willock has finally found something like the form that persuaded Newcastle to turn his successful loan spell last season into a £22m permanent deal.
“The midfield has worked incredibly well and I’m reluctant to make too many changes when we’re in a really good flow,” Howe said recently.
The decision to move £40m record buy Joelinton from striker who could not score to marauding box-to-box midfielder has been the real masterstroke by Howe.
After managing just six league goals in his first two campaigns, it became painfully obvious that leading the line and scoring regularly was not part of the Brazilian's repertoire – although what position actually suited him only became clear during the 1-1 draw with Norwich City last November.
Defender Ciaran Clark had been sent-off after just nine minutes and Joelinton was asked to move into a deeper midfield role as the team adapted to being a man down. It is fair to say he has never looked back.
“You can see with the way he’s performed, especially since I’ve arrived. He’s been unbelievable,” Trippier told the True Geordie podcast. “He can go where he wants to. He has the ability to be a world-class player.”
Sentiments echoed by manager Howe. “The biggest compliment I can give him is he hasn’t made it look hard,” he said. “His defensive performance has been at the highest level tactically. He has been perfect in that respect.”
A remarkable turnaround for a player who seemed to have cemented his place as one of one worst buys in Premier League history but is now being talked-up for a possible Brazil call-up.
Newcastle 1 Aston Villa 0: player ratings
COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
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The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
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Salama bint Butti Street
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Rabdan Street
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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.”
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
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Director: Joseph Kosinski
Rating: 4/5
Company profile: buybackbazaar.com
Name: buybackbazaar.com
Started: January 2018
Founder(s): Pishu Ganglani and Ricky Husaini
Based: Dubai
Sector: FinTech, micro finance
Initial investment: $1 million
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
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%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Alaan%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Parthi%20Duraisamy%20and%20Karun%20Kurien%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%247%20million%20raised%20in%20total%20%E2%80%94%20%242.5%20million%20in%20a%20seed%20round%20and%20%244.5%20million%20in%20a%20pre-series%20A%20round%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
SANCTIONED
- Kirill Shamalov, Russia's youngest billionaire and previously married to Putin's daughter Katarina
- Petr Fradkov, head of recently sanctioned Promsvyazbank and son of former head of Russian Foreign Intelligence, the FSB.
- Denis Bortnikov, Deputy President of Russia's largest bank VTB. He is the son of Alexander Bortnikov, head of the FSB which was responsible for the poisoning of political activist Alexey Navalny in August 2020 with banned chemical agent novichok.
- Yury Slyusar, director of United Aircraft Corporation, a major aircraft manufacturer for the Russian military.
- Elena Aleksandrovna Georgieva, chair of the board of Novikombank, a state-owned defence conglomerate.