Napoli’s Senegalese defender Kalidou Koulibaly has signed for Chelsea. AFP
Napoli’s Senegalese defender Kalidou Koulibaly has signed for Chelsea. AFP
Napoli’s Senegalese defender Kalidou Koulibaly has signed for Chelsea. AFP
Napoli’s Senegalese defender Kalidou Koulibaly has signed for Chelsea. AFP

Kalidou Koulibaly signs four-year deal with 'big team' Chelsea


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Chelsea have completed the signing of Senegal defender Kalidou Koulibaly from Napoli on a four-year contract, the Premier League club announced on Saturday.

Reports suggested that Chelsea paid a fee of around £32 million ($37.93m) for the 31-year-old, who became the London side's second summer signing after Raheem Sterling.

"I'm very happy to be here with this team at Chelsea," Koulibaly said in a statement. "It's a big team in the world and my dream was always to play in the Premier League.

"Chelsea came first to get me in 2016 but we didn't make it. Now when they came to me I accepted it because they really wanted me to come to the Premier League to play for them.

"When I spoke to my good friends Edou and Jorginho they made my choice easier so I’m really happy to be with you today."

Todd Boehly, chairman and co-controlling owner, said in a statement: "Kalidou Koulibaly is one of the world’s elite defenders and we are delighted to be welcoming him to Chelsea. A great leader and an exemplary team player, Kalidou brings a wealth of experience and attributes that will benefit our squad and the club as a whole."

It marked the second significant signing for Chelsea ahead of the new season. Sterling was the first major signing for the club's new owners led by Todd Boehly. His transfer fee is understood to be in the region of £50 million ($60m).

Speaking on Koulibaly the Allegiant Stadium in Las Vegas after the Senegal international's signing was confirmed, manager Thomas Tuchel added: "I’m very happy with him signing and joining our team.

"He’s now the second signing of the summer and again we have a strong player, a strong personality with big experience. From our point of view, he’s a perfect addition to the group."

  • New Chelsea signing Raheem Sterling during a visit to Dodger Stadium in Los Angeles, California. All pictures by Getty Images
    New Chelsea signing Raheem Sterling during a visit to Dodger Stadium in Los Angeles, California. All pictures by Getty Images
  • Raheem Sterling signs autographs before a training session at Drake Stadium in Los Angeles, California.
    Raheem Sterling signs autographs before a training session at Drake Stadium in Los Angeles, California.
  • Raheem Sterling and Emerson of Chelsea during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
    Raheem Sterling and Emerson of Chelsea during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
  • Thomas Tuchel, Kai Havertz, Trevoh Chalobah, Harvey Vale, Callum Hudson-Odoi, Ethan Ampadu, Malang Sarr, Armando Broja and Levi Colwill of Chelsea celebrates winning a mini tournament during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
    Thomas Tuchel, Kai Havertz, Trevoh Chalobah, Harvey Vale, Callum Hudson-Odoi, Ethan Ampadu, Malang Sarr, Armando Broja and Levi Colwill of Chelsea celebrates winning a mini tournament during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
  • Raheem Sterling of Chelsea during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
    Raheem Sterling of Chelsea during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
  • New signing Raheem Sterling with Chelseaco-owners Todd Boehly and Behdad Eghbali during a visit to Dodger Stadium in Los Angeles, California.
    New signing Raheem Sterling with Chelseaco-owners Todd Boehly and Behdad Eghbali during a visit to Dodger Stadium in Los Angeles, California.
  • Hakim Ziyech, Matt Birnie, Reece James and Raheem Sterling during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
    Hakim Ziyech, Matt Birnie, Reece James and Raheem Sterling during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
  • Raheem Sterling and Hakim Ziyech during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
    Raheem Sterling and Hakim Ziyech during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
  • Marcus Bettinelli, Thiago Silva, Malang Sarr, Raheem Sterling, Jorginho and Edouard Mendy of Chelsea during a visit to Dodger Stadium in Los Angeles, California.
    Marcus Bettinelli, Thiago Silva, Malang Sarr, Raheem Sterling, Jorginho and Edouard Mendy of Chelsea during a visit to Dodger Stadium in Los Angeles, California.
  • Reece James, Raheem Sterling and César Azpilicueta of Chelsea during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
    Reece James, Raheem Sterling and César Azpilicueta of Chelsea during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
  • Callum Hudson-Odoi and Raheem Sterling of Chelsea before a training session at Drake Stadium UCLA Campus in Los Angeles, California.
    Callum Hudson-Odoi and Raheem Sterling of Chelsea before a training session at Drake Stadium UCLA Campus in Los Angeles, California.
  • Raheem Sterling and Jorginho of Chelsea during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
    Raheem Sterling and Jorginho of Chelsea during a training session at Drake Stadium UCLA Campus in Los Angeles, California.
  • Malang Sarr and Edouard Mendy of Chelsea during a visit to Dodger Stadium in Los Angeles, California.
    Malang Sarr and Edouard Mendy of Chelsea during a visit to Dodger Stadium in Los Angeles, California.
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

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

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%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Amit%20Joshi%20and%20Aradhana%20Sah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECast%3A%3C%2Fstrong%3E%20Shahid%20Kapoor%2C%20Kriti%20Sanon%2C%20Dharmendra%2C%20Dimple%20Kapadia%2C%20Rakesh%20Bedi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The specs

Engine: 2.0-litre 4-cyl

Power: 153hp at 6,000rpm

Torque: 200Nm at 4,000rpm

Transmission: 6-speed auto

Price: Dh99,000

On sale: now

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A

 

 

Points to remember
  • Debate the issue, don't attack the person
  • Build the relationship and dialogue by seeking to find common ground
  • Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
  • Listen actively without interrupting
  • Avoid assumptions, seek understanding, ask questions
Porsche Macan T: The Specs

Engine: 2.0-litre 4-cyl turbo 

Power: 265hp from 5,000-6,500rpm 

Torque: 400Nm from 1,800-4,500rpm 

Transmission: 7-speed dual-clutch auto 

Speed: 0-100kph in 6.2sec 

Top speed: 232kph 

Fuel consumption: 10.7L/100km 

On sale: May or June 

Price: From Dh259,900  

INFO
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20OneOrder%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20March%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Tamer%20Amer%20and%20Karim%20Maurice%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Cairo%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E82%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Series%20A%3C%2Fp%3E%0A
RESULTS

Manchester United 2

Anthony Martial 30'

Scott McTominay 90 6' 

Manchester City 0

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%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3ESam%20Ottewill-Soulsby%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EPrinceton%20University%20Press%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPages%3A%20%3C%2Fstrong%3E392%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%20%3C%2Fstrong%3EJuly%2011%3C%2Fp%3E%0A

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.”

DUBAI%20BLING%3A%20EPISODE%201
%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3ENetflix%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EKris%20Fade%2C%20Ebraheem%20Al%20Samadi%2C%20Zeina%20Khoury%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Crops that could be introduced to the UAE

1: Quinoa 

2. Bathua 

3. Amaranth 

4. Pearl and finger millet 

5. Sorghum

Updated: July 16, 2022, 6:43 AM