• Karim Benzema scores Real Madrid's third goal from the penalty spot during the Champions League semi-final first leg against Manchester City at the Etihad on April 26, 2022. Reuters
    Karim Benzema scores Real Madrid's third goal from the penalty spot during the Champions League semi-final first leg against Manchester City at the Etihad on April 26, 2022. Reuters
  • Karim Benzema scores his Panenka penalty for Real Madrid against Manchester City. EPA
    Karim Benzema scores his Panenka penalty for Real Madrid against Manchester City. EPA
  • Karim Benzema celebrates after scoring Real Madrid's third goal from the penalty spot. Getty
    Karim Benzema celebrates after scoring Real Madrid's third goal from the penalty spot. Getty
  • Karim Benzema celebrates after scoring Real Madrid's third goal. AP
    Karim Benzema celebrates after scoring Real Madrid's third goal. AP
  • Real Madrid manager Carlo Ancelotti, right, and Karim Benzema shake hands at the end of the match. AP
    Real Madrid manager Carlo Ancelotti, right, and Karim Benzema shake hands at the end of the match. AP
  • Karim Benzema celebrates scoring a penalty against Manchester City. EPA
    Karim Benzema celebrates scoring a penalty against Manchester City. EPA
  • Karim Benzema battles for the ball against Manchester City midfielder Rodri. EPA
    Karim Benzema battles for the ball against Manchester City midfielder Rodri. EPA
  • Karim Benzema scores Real Madrid's first goal against Manchester City. Getty
    Karim Benzema scores Real Madrid's first goal against Manchester City. Getty
  • Karim Benzema celebrates after scoring Real Madrid's first goal against Manchester City. PA
    Karim Benzema celebrates after scoring Real Madrid's first goal against Manchester City. PA
  • Karim Benzema celebrates with Vinicius Junior after scoring eal Madrid's first goal. Getty
    Karim Benzema celebrates with Vinicius Junior after scoring eal Madrid's first goal. Getty
  • Karim Benzema runs off in celebration after scoring Real Madrid's first goal. PA
    Karim Benzema runs off in celebration after scoring Real Madrid's first goal. PA
  • Karim Benzema during the Champions League semi-final, first leg between Manchester City and Real Madrid. AP
    Karim Benzema during the Champions League semi-final, first leg between Manchester City and Real Madrid. AP

Benzema backs Real Madrid to do 'something magical' to reach Champions League final


  • English
  • Arabic

Karim Benzema believes Real Madrid can do "something magical" and overturn the Champions League semi-final first-leg defeat to Manchester City when the two sides meet again next week in the return fixture.

City claimed a pulsating 4-3 victory at the Etihad Stadium on Tuesday night in one of the most memorable matches in European Cup history.

The Premier League champions raced into a 2-0 lead, Kevin de Bruyne breaking the deadlock in the second minute and Gabriel Jesus swiftly doubling their advantage. Benzema halved the deficit with a classy finish in the 33rd before Phil Foden headed home unmarked to restore City's two-goal advantage shortly after half time. However, two minutes later, Vinicius Jr made it 3-2 with a superb goal after turning Fernandinho inside out.

Bernardo Silva gave City some breathing room with a stunning strike in the 73rd minute, but Benzema grabbed his second from the penalty spot after Aymeric Laporte handled inside the area. In a sign of the Frenchman's brimming confidence, he dinked a perfectly executed Panenka six days after missing two penalties in one La Liga match.

With the tie delicately poised ahead of the second leg, Benzema has called on Real Madrid and the club's fans to turn the Bernabeu into a fortress next Wednesday as the Spanish giants aim to keep alive their bid for a record-extending 14th European Cup.

"A defeat is never good because we are really excited about the Champions League. The most important thing is we never lay down our arms, we are all in this until the end," Benzema, 33, said.

"Now we have to go to the Bernabeu and we will need our fans like never before and we are going to do something magical, which is win."

Benzema is enjoying the most prolific campaign of his distinguished career. His double against City moved him on to 41 goals in 41 games across competitions, while he surpassed Bayern Munich's Robert Lewandowski as this season's top goalscorer in the Champions League with 14. Benzema's penalty in particular demonstrated his sensational form having had two spot kicks saved against Osasuna last Wednesday.

Man City v Real Madrid player ratings

  • MANCHESTER CITY RATINGS: Ederson - 6: A couple of poor passes from the back in first half that could have been punished on another day. No chance with goals and outwitted by cheeky Benzema penalty. Reuters
    MANCHESTER CITY RATINGS: Ederson - 6: A couple of poor passes from the back in first half that could have been punished on another day. No chance with goals and outwitted by cheeky Benzema penalty. Reuters
  • John Stones - 6: Playing out of comfort zone at right-back and had been solid enough up against the dangerous Vinicius Junior before limping off injured late in first half. Looked devastated as he headed off down tunnel. AP
    John Stones - 6: Playing out of comfort zone at right-back and had been solid enough up against the dangerous Vinicius Junior before limping off injured late in first half. Looked devastated as he headed off down tunnel. AP
  • Aymeric Laporte - 5: Should have closed down Vinicius Junior before Brazilian's goal. Found himself in centre-forward’s position after 68 minutes but hit shot straight at Ederson. Blatant handball to give away penalty and allow Benzema to score from spot to make it 4-3. Reuters
    Aymeric Laporte - 5: Should have closed down Vinicius Junior before Brazilian's goal. Found himself in centre-forward’s position after 68 minutes but hit shot straight at Ederson. Blatant handball to give away penalty and allow Benzema to score from spot to make it 4-3. Reuters
  • Ruben Dias - 6: Deflected Vinicius shot wide in opening 20 minutes but was relieved to see linesman flag go up when he deflected pass from same player onto own post. Important header with Benzema primed to finish just before hour. Twice nearly got on end of crosses that would have made it 5-3. AP
    Ruben Dias - 6: Deflected Vinicius shot wide in opening 20 minutes but was relieved to see linesman flag go up when he deflected pass from same player onto own post. Important header with Benzema primed to finish just before hour. Twice nearly got on end of crosses that would have made it 5-3. AP
  • Oleksandr Zinchenko - 7: Drilled shot wide of target in first half but beaten to ball by Benzema for Real’s opener soon after. Set up chance for Laporte that centre-half couldn’t finish. Did really well against pace of Rodrygo. PA
    Oleksandr Zinchenko - 7: Drilled shot wide of target in first half but beaten to ball by Benzema for Real’s opener soon after. Set up chance for Laporte that centre-half couldn’t finish. Did really well against pace of Rodrygo. PA
  • Rodri - 8: The anchorman at the base of City’s slick midfield and bossed middle of park despite being up against Kroos and Modric. Couldn’t get track back quick enough to prevent Vinicius Junor scoring. Reuters
    Rodri - 8: The anchorman at the base of City’s slick midfield and bossed middle of park despite being up against Kroos and Modric. Couldn’t get track back quick enough to prevent Vinicius Junor scoring. Reuters
  • Bernardo Silva - 8: Not as much impact as City’s wide players in first half but still a key part of City’s superb pace and movement going forward. Cracking finish into top corner to make it 4-2. PA
    Bernardo Silva - 8: Not as much impact as City’s wide players in first half but still a key part of City’s superb pace and movement going forward. Cracking finish into top corner to make it 4-2. PA
  • Kevin De Bruyne - 9: Brilliant diving header inside two minutes to give City perfect start, then provided cross into box for Jesus’ goal. Was simply unplayable at times and his distribution another level to everyone on pitch, which is saying something considering the attacking talent on show. PA
    Kevin De Bruyne - 9: Brilliant diving header inside two minutes to give City perfect start, then provided cross into box for Jesus’ goal. Was simply unplayable at times and his distribution another level to everyone on pitch, which is saying something considering the attacking talent on show. PA
  • Riyad Mahrez - 8: Driving run and cracking ball into box to set-up De Bruyne’s opener but left manager Pep Guardiola going ballistic on touchline when he shot into side netting with teammates waiting for pass in middle. Hit post with glorious chance just after break and clipped another shot across face goal after mazy run. PA
    Riyad Mahrez - 8: Driving run and cracking ball into box to set-up De Bruyne’s opener but left manager Pep Guardiola going ballistic on touchline when he shot into side netting with teammates waiting for pass in middle. Hit post with glorious chance just after break and clipped another shot across face goal after mazy run. PA
  • Phil Foden - 8: Caused chaos in the Real defence with his attacking runs down left. First touch let him down ahead of shot he pulled wide that would have made it 3-0. Should have scored just after half-time but saw Carvajal block his effort on line, but did make it 3-1 minutes later with simple header. PA
    Phil Foden - 8: Caused chaos in the Real defence with his attacking runs down left. First touch let him down ahead of shot he pulled wide that would have made it 3-0. Should have scored just after half-time but saw Carvajal block his effort on line, but did make it 3-1 minutes later with simple header. PA
  • Gabriel Jesus - 7: Four goals against Watford at weekend and continued his scoring streak with calm finish to make it 2-0 in blistering start from City. EPA
    Gabriel Jesus - 7: Four goals against Watford at weekend and continued his scoring streak with calm finish to make it 2-0 in blistering start from City. EPA
  • SUBS: Fernandinho – (On for Stones 37’) 6: Fantastic run down right and ball into box for Foden’s goal but got done by Vinicius Junior in run-up to Real’s second goal minutes later. Younger legs than veteran midfielder’s have found Vinicius Junior’s pace a problem, in defence of veteran. Getty
    SUBS: Fernandinho – (On for Stones 37’) 6: Fantastic run down right and ball into box for Foden’s goal but got done by Vinicius Junior in run-up to Real’s second goal minutes later. Younger legs than veteran midfielder’s have found Vinicius Junior’s pace a problem, in defence of veteran. Getty
  • Raheem Sterling – (On for Jesus 83’) N/A. Getty
    Raheem Sterling – (On for Jesus 83’) N/A. Getty
  • REAL MADRID RATINGS: Thibaut Courtois - 6: Helpless as defence went missing far too regularly and nothing he could do about first three goals – but caught flat-footed for fourth when Silva fired into top corner of his near post. EPA
    REAL MADRID RATINGS: Thibaut Courtois - 6: Helpless as defence went missing far too regularly and nothing he could do about first three goals – but caught flat-footed for fourth when Silva fired into top corner of his near post. EPA
  • Dani Carvajal - 7: Allowed De Bruyne to ghost in front of him for City’s early goal. Vital clearance just before break from Mahrez cross across six-yard box and even more important block on line just after half-time from Foden after Mahrez hit post. Good ball into box that Militao failed to finish. EPA
    Dani Carvajal - 7: Allowed De Bruyne to ghost in front of him for City’s early goal. Vital clearance just before break from Mahrez cross across six-yard box and even more important block on line just after half-time from Foden after Mahrez hit post. Good ball into box that Militao failed to finish. EPA
  • Eder Militao - 5: Struggled to deal with City’s movement and looked shaky at back throughout. Turned inside out by Jesus late in first half and then easily beaten by Mahrez early in second when Algerian hit post. Headed chance straight at keeper that would have made it 3-3. AP
    Eder Militao - 5: Struggled to deal with City’s movement and looked shaky at back throughout. Turned inside out by Jesus late in first half and then easily beaten by Mahrez early in second when Algerian hit post. Headed chance straight at keeper that would have made it 3-3. AP
  • David Alaba - 5: Austrian defender was injury doubt before match and badly caught out for Jesus’ goal. Flicked header just wide of target on half-hour mark. Didn’t make it out for second half as gamble to play failed to pay off. AFP
    David Alaba - 5: Austrian defender was injury doubt before match and badly caught out for Jesus’ goal. Flicked header just wide of target on half-hour mark. Didn’t make it out for second half as gamble to play failed to pay off. AFP
  • Ferland Mendy - 6: Supplied ball into box for Benzema’s goal but couldn’t handle Mahrez’s runs down his flank and endured a tough night defensively. Reuters
    Ferland Mendy - 6: Supplied ball into box for Benzema’s goal but couldn’t handle Mahrez’s runs down his flank and endured a tough night defensively. Reuters
  • Luka Modric - 7: Croatian mdifelder seemed to be missing midfield partner in crime Casemiro as Real couldn’t get ball off City for first 20 minutes. Played his way into game and hit shot just wide of target from edge of box in last 15 minutes. Reuters
    Luka Modric - 7: Croatian mdifelder seemed to be missing midfield partner in crime Casemiro as Real couldn’t get ball off City for first 20 minutes. Played his way into game and hit shot just wide of target from edge of box in last 15 minutes. Reuters
  • Toni Kroos - 6: Gave away clumsy foul on edge of Real box just before break and was relieved to see De Bruyne crack shot straight at wall. A lot expected of Real’s midfield before game but German struggled. EPA
    Toni Kroos - 6: Gave away clumsy foul on edge of Real box just before break and was relieved to see De Bruyne crack shot straight at wall. A lot expected of Real’s midfield before game but German struggled. EPA
  • Federico Valverde - 7: Tireless workrate as always and in right place to divert cross away after Militao had been skinned by Jesus. Getty
    Federico Valverde - 7: Tireless workrate as always and in right place to divert cross away after Militao had been skinned by Jesus. Getty
  • Rodrygo - 6: Powered shot straight at Ederson as Real started to battle back into game after disastrous start. Kept relatively under control by Zinchenko and his last contribution before being taken off was a poor pass out for goal-kick to waste good opportunity for Real. Getty
    Rodrygo - 6: Powered shot straight at Ederson as Real started to battle back into game after disastrous start. Kept relatively under control by Zinchenko and his last contribution before being taken off was a poor pass out for goal-kick to waste good opportunity for Real. Getty
  • Karim Benzema – 9: Great ball into box that Alaba headed wide in first half. Pulled Real back into game with excellent first-time finish after 33 minutes for 40th goal of season. Ice-cold nerves with Panenka finish from the spot and make it 3-3 from the most in-form striker on the planet. EPA
    Karim Benzema – 9: Great ball into box that Alaba headed wide in first half. Pulled Real back into game with excellent first-time finish after 33 minutes for 40th goal of season. Ice-cold nerves with Panenka finish from the spot and make it 3-3 from the most in-form striker on the planet. EPA
  • Vinicius Junior - 7: Saw shot deflected wide after 18 minutes when Benzema was crying out for pass. Some Brazilian magic to make it 3-2 with a sensational dummy past Fernandinho, surging down left flank before finishing well. Getty
    Vinicius Junior - 7: Saw shot deflected wide after 18 minutes when Benzema was crying out for pass. Some Brazilian magic to make it 3-2 with a sensational dummy past Fernandinho, surging down left flank before finishing well. Getty
  • SUBS: Nacho – (On for 46 Alaba’) 6: Real would have been hoping Spaniard would help shore up a leaky defensive showing but found dealing with City’s attackers as problematic as his teammates. AFP
    SUBS: Nacho – (On for 46 Alaba’) 6: Real would have been hoping Spaniard would help shore up a leaky defensive showing but found dealing with City’s attackers as problematic as his teammates. AFP
  • Eduardo Camavinga – (On for Rodrygo 70’) 6: No chance for highly-rated midfielder to make his mark. Reuters
    Eduardo Camavinga – (On for Rodrygo 70’) 6: No chance for highly-rated midfielder to make his mark. Reuters
  • Dani Ceballos – (On for Rodrygo 79’) N/A. Reuters Marco Asensio – (On for Vinicius Junior 88’) N/A.
    Dani Ceballos – (On for Rodrygo 79’) N/A. Reuters Marco Asensio – (On for Vinicius Junior 88’) N/A.

"I always have it in my head that if you don’t take a penalty, you will never miss a penalty," said Benzema, who scored successive Champions League hat-tricks against Paris Saint-Germain and Chelsea in the previous two rounds. "That’s mental confidence and that's all. I have a lot of confidence in myself ... so I do it and it turns out well."

Real Madrid manager Carlo Ancelotti said he was pleased with his team's reaction from going down 2-0 so early in the match but insisted they need to defend better in the second leg to advance to the final.

"It was a fantastic game. As manager of Real Madrid I have to take consideration that we scored three goals, which is really important. We didn't defend well, we can do better," the Italian said. "We concede two goals early in the game and then we are able to react really well. We kept the game open until the end. Now we have a great dream to play the second game in the Bernabeu and we hope to have the chance to go to the final.

"We need [some magic] as we are going to play against a really strong team. We competed today and we need to do that more in our stadium."

Sun jukebox

Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)

This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.

Elvis Presley, Mystery Train (1955)

The B-side of Presley’s final single for Sun bops with a drummer-less groove.

Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)

Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.

Carl Perkins, Blue Suede Shoes (1956)

Within a month of Sun’s February release Elvis had his version out on RCA.

Roy Orbison, Ooby Dooby (1956)

An essential piece of irreverent juvenilia from Orbison.

Jerry Lee Lewis, Great Balls of Fire (1957)

Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.

Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

Kat Wightman's tips on how to create zones in large spaces

 

  • Area carpets or rugs are the easiest way to segregate spaces while also unifying them.
  • Lighting can help define areas. Try pendant lighting over dining tables, and side and floor lamps in living areas.
  • Keep the colour palette the same in a room, but combine different tones and textures in different zone. A common accent colour dotted throughout the space brings it together.
  • Don’t be afraid to use furniture to break up the space. For example, if you have a sofa placed in the middle of the room, a console unit behind it will give good punctuation.
  • Use a considered collection of prints and artworks that work together to form a cohesive journey.
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ICC Awards for 2021

MEN

Cricketer of the Year – Shaheen Afridi (Pakistan)

T20 Cricketer of the Year – Mohammad Rizwan (Pakistan)

ODI Cricketer of the Year – Babar Azam (Pakistan)

Test Cricketer of the Year – Joe Root (England)

WOMEN

Cricketer of the Year – Smriti Mandhana (India)

ODI Cricketer of the Year – Lizelle Lee (South Africa)

T20 Cricketer of the Year – Tammy Beaumont (England)

Scorebox

Dubai Sports City Eagles 7 Bahrain 88

Eagles

Try: Penalty

Bahrain

Tries: Gibson 2, Morete 2, Bishop 2, Bell 2, Behan, Fameitau, Sanson, Roberts, Bennett, Radley

Cons: Radley 4, Whittingham 5

LIGUE 1 FIXTURES

All times UAE ( 4 GMT)

Friday
Nice v Angers (9pm)
Lille v Monaco (10.45pm)

Saturday
Montpellier v Paris Saint-Germain (7pm)
Bordeaux v Guingamp (10pm)
Caen v Amiens (10pm)
Lyon v Dijon (10pm)
Metz v Troyes (10pm)

Sunday
Saint-Etienne v Rennes (5pm)
Strasbourg v Nantes (7pm)
Marseille v Toulouse (11pm)

What is Diwali?

The Hindu festival is at once a celebration of the autumn harvest and the triumph of good over evil, as outlined in the Ramayana.

According to the Sanskrit epic, penned by the sage Valmiki, Diwali marks the time that the exiled king Rama – a mortal with superhuman powers – returned home to the city of Ayodhya with his wife Sita and brother Lakshman, after vanquishing the 10-headed demon Ravana and conquering his kingdom of Lanka. The people of Ayodhya are believed to have lit thousands of earthen lamps to illuminate the city and to guide the royal family home.

In its current iteration, Diwali is celebrated with a puja to welcome the goodness of prosperity Lakshmi (an incarnation of Sita) into the home, which is decorated with diyas (oil lamps) or fairy lights and rangoli designs with coloured powder. Fireworks light up the sky in some parts of the word, and sweetmeats are made (or bought) by most households. It is customary to get new clothes stitched, and visit friends and family to exchange gifts and greetings.  

 

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Scoreline

Liverpool 3
Mane (7'), Salah (69'), Firmino (90')

Bournemouth 0

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.”

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
Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

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 

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

How to donate

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

The%20end%20of%20Summer
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England-South Africa Test series

1st Test England win by 211 runs at Lord's, London

2nd Test South Africa win by 340 runs at Trent Bridge, Nottingham

3rd Test July 27-31 at The Oval, London

4th Test August 4-8 at Old Trafford, Manchester

Profile of Whizkey

Date founded: 04 November 2017

Founders: Abdulaziz AlBlooshi and Harsh Hirani

Based: Dubai, UAE

Number of employees: 10

Sector: AI, software

Cashflow: Dh2.5 Million  

Funding stage: Series A

Updated: April 27, 2022, 5:19 AM