Two of the last three Champions League finals will be repeated in February thanks to the draw for the last 16. A competition that produced quirky pacesetters and sunk some traditional heavyweights in this season’s group stage has now crammed four of the favourites into two ties. The rest can look at this European Cup and see it as refreshingly open.
For the favourites, Manchester City, the draw seemed kind once theirs was the second name drawn from the glass bowls at Uefa headquarters in Nyon, Switzerland. RB Leipzig, beaten 6-3 by City last season, had been the first.
City will be wary of their first-leg trip to East Germany, where they lost in the 2021-22 group phase, but by the time Monday’s ceremony was over, City can only have appreciated the fact that at least two of their chief challengers for the title will not make it into the last eight.
Liverpool, City’s fiercest domestic rivals over the last five years, must play holders Real Madrid. Ambitious Paris Saint-Germain will meanwhile duke out a quarter-final berth with Bayern Munich.
Bayern defeated PSG 1-0 in the final in 2020. Liverpool and Madrid have become agonisingly familiar: They contested the 2018 final, a 3-1 Madrid triumph; Madrid then knocked out Liverpool in the last-eight stage in 2021. Madrid won again in the Paris final six months ago, a Vinicius Junior strike and the excellent goalkeeping of Thibaut Courtois consigning Liverpool to defeat.
But the anxious frown on the face of Emilio Butragueno, the former Madrid centre-forward and the club’s delegate in Nyon, as soon as the former Madrid midfielder, Hamit Altintop – ambassador for the competition’s Istanbul final – drew Liverpool and Madrid together told a story.
Real 1 Liverpool 0: Champions League final ratings
The Spanish champions will be concerned, however irregular Liverpool’s recent form has been. Madrid recall how tight the Paris final was, and how the steady trail of recent collisions with Liverpool generates a fierce desire at Anfield to make amends.
With a World Cup soon to grab the attention and sap some of the energies of leading players, Butragueno and Madrid manager Carlo Ancelotti also fear that the likes of Croatia’s Luka Modric, France’s Karim Benzema and Germany’s Toni Kroos will come into 2023 tired from their exertions in Qatar.
Liverpool’s Mohamed Salah, by contrast, has no World Cup in his diary. He should go into the new year fit, fresh and with a sense of his own gathering momentum.
Salah’s brace in the weekend’s 2-1 victory at Tottenham Hotspur carried him to nine goals from his last eight matches. He scored seven times in Liverpool’s six group games in the Champions League, the major trophy his club are targeting, given that a tilt for the Premier League, from 15 points behind leaders Arsenal, seems unlikely.
PSG, impatient to add a first European Cup to their honours board and unsparing in their investment on players capable of seizing that trophy, are confronted with a Bayern who swept aside Barcelona and Inter Milan to extend their record of unbeaten group-phase games to 34.
PSG face a set of Champions League experts. But the last meeting, a quarter-final two seasons ago, finished narrowly in favour of the French champions. Since then Lionel Messi has joined them, and, this season, blossomed in their colours.
Juventus 1 PSG 2: player ratings
Tottenham must play AC Milan, a resonant date for Spurs manager Antonio Conte, given his past as player and coach at Juventus, and, more recently, his time in charge of Inter. Vibrant Napoli will feel relatively blessed at having drawn Eintracht Frankfurt, newcomers to the knockout phase, as are Brugge, of Belgium, who play in-form Benfica.
Porto meet Inter, a special fixture for Porto’s manager Sergio Conceicao, a former Inter winger. Chelsea are paired with Borussia Dortmund, former employer of Pierre-Emerick Aubameyang and Christian Pulisic, two of the men charged with sharpening the 2021 European champions’ waning firepower.
Best tie of the calendar? There’s a case for suggesting it may be neither the one played out between Anfield and the Bernabeu, nor in Paris and Munich, but rather the standout clash from the play-offs for the last 16 of the Europa League, also drawn in Nyon: Barcelona versus Manchester United.
A dozen years ago, United and Barcelona were used to contesting Champions League finals against each other even more frequently than Real Madrid and Liverpool do.
They now find themselves in Uefa’s second tier, where they meet over two legs in February. It’s a collision that should persuade United’s Cristiano Ronaldo and Barca’s Robert Lewandowksi that, while Europa League football feels to them like a step down, to the combined 170,000 who fill up Camp Nou and Old Trafford, this feels like a true clash of heavyweights.
Marseille 1 Tottenham 2: player ratings
Brief scoreline:
Manchester United 1
Mata 11'
Chelsea 1
Alonso 43'
Fresh faces in UAE side
Khalifa Mubarak (24) An accomplished centre-back, the Al Nasr defender’s progress has been hampered in the past by injury. With not many options in central defence, he would bolster what can be a problem area.
Ali Salmeen (22) Has been superb at the heart of Al Wasl’s midfield these past two seasons, with the Dubai club flourishing under manager Rodolfo Arrubarrena. Would add workrate and composure to the centre of the park.
Mohammed Jamal (23) Enjoyed a stellar 2016/17 Arabian Gulf League campaign, proving integral to Al Jazira as the capital club sealed the championship for only a second time. A tenacious and disciplined central midfielder.
Khalfan Mubarak (22) One of the most exciting players in the UAE, the Al Jazira playmaker has been likened in style to Omar Abdulrahman. Has minimal international experience already, but there should be much more to come.
Jassim Yaqoub (20) Another incredibly exciting prospect, the Al Nasr winger is becoming a regular contributor at club level. Pacey, direct and with an eye for goal, he would provide the team’s attack an extra dimension.
Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."
Race card
6.30pm: Emirates Holidays Maiden (TB), Dh82,500 (Dirt), 1,900m
7.05pm: Arabian Adventures Maiden (TB), Dh82,500 (D), 1,200m
7.40pm: Emirates Skywards Handicap (TB), Dh82,500 (D), 1,200m
8.15pm: Emirates Airline Conditions (TB), Dh120,000 (D), 1,400m
8.50pm: Emirates Sky Cargo (TB), Dh92,500 (D)1,400m
9.15pm: Emirates.com (TB), Dh95,000 (D), 2,000m
The specs
Engine: 3.6 V6
Transmission: 8-speed auto
Power: 295bhp
Torque: 353Nm
Price: Dh155,000
On sale: now
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
Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape
Upcoming games
SUNDAY
Brighton and Hove Albion v Southampton (5.30pm)
Leicester City v Everton (8pm)
MONDAY
Burnley v Newcastle United (midnight)
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Tips for taking the metro
- set out well ahead of time
- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines
- enter the right cabin. The train may be too busy to move between carriages once you're on
- don't carry too much luggage and tuck it under a seat to make room for fellow passengers