Diego Simeone put on an Argentina jersey under his familiar black suit. They are the two favourite outfits of his professional career. He played for Argentina more than 100 times. As a coach, he has made the dark jacket and trousers his touchline trademark through most of the 599 matches he has been in charge of Atletico Madrid.
Simeone had chosen his mix-and-match attire for a special occasion, Sunday’s trip for Qatar to the World Cup final. The patriot in him would finish the night delighted. He was there as a proud manager, too. Four Atletico players were among the finalists as Argentina took on France.
No club was better represented, either, among the gold-medallists. Simeone will greet Rodrigo de Paul, Nehuel Molina and Angel Correa with hearty backslaps when they return to training in Madrid in the coming days. He will commiserate with Antoine Griezmann, so dynamic for France in their run to a final they lost only on penalties.
Griezmann, at least, already has a World Cup medal: he was one of the three Atletico employees who were part of France’s winning squad in 2018.
That in itself is a remarkable achievement. That’s two successive World Cups in which no club had, under contract, more players in the winning squad than Atletico. It’s a measure of Simeone’s transforming effect over the last decade.
When Spain, where Atletico are the third biggest club, won the 2010 World Cup, they had no Atletico players involved; when Simeone took over Atletico following year, the club were not the sort of institution potential world champions wanted to join. They sat 10th in La Liga, and had just been knocked out of the Copa del Rey by third-tier Albacete.
As Simeone on Wednesday prepared his available Atletico players for the resumption of the domestic season, a Copa del Rey tie away at fourth-tier Arenteiro in Galicia, he was encouraged to reflect on his epoch-shaping influence.
World Cup final - player ratings
He has arrived at significant milestones in his time as elite football’s longest-serving boss. It was exactly 11 years ago that he agreed to take the job. On Thursday, he will be in charge of Atletico - who on his watch have won La Liga twice, claimed a pair of Europa League titles and a Spanish Cup, as well as reaching two Champions League finals - for the 600th time.
But the 11-year anniversary is hardly a peak moment. His Spanish champions of 2020-21 are currently outside the top four of La Liga, 13 points off the top. They finished bottom of their Champions League group.
The impressive fact and figures of the Simeone era also place an unforgiving lens on the here-and-now. His overall win percentage at Atletico is close to 60 per cent; this season it has dipped to under 43 per cent, lower than any of his previous campaigns. In 2022-23, Atletico are averaging 1.33 goals per game; even if Simeone’s time in charge has been largely characterised by defensive solidity, goals have never been scored at a lower rate than over the past four months.
And that’s with a choice of attacking personnel as gifted as in any Simeone squad from the past. Joao Felix, Griezmann and Alvaro Morata have each commanded net transfer fees over €100m in their careers.
Matheus Cunha, the 23-year-old Brazil striker, arrived for €30m in the summer to add more firepower. Cunha was yesterday in advanced negotiations to join Wolverhampton Wanderers, his Atletico move deemed a disappointment. It is a rare case of Simeone’s tutelage not adding value to a player, although to look over some individual performances in Qatar is to wonder if Simeone is coaxing as much from some of his players as their national managers can.
Take Joao Felix, still only 23, but restless. He appeared to aim a dig at his Atletico role when, after shining for Portugal, he said: “There’s difference with playing here and at the club - when conditions are more favourable, things go better.” Griezmann, a long-term Simeone ally, was deployed brilliantly in a midfield position for France, revealing assets previously undiscovered at Atletico. De Paul galvanised Argentina through the later stages of the World Cup; this season, Simeone has named De Paul on the bench as often as in the starting XI.
“Nobody has doubts about Simeone, there’s no grounds to doubt him,” insisted the Atletico president, Enrique Cerezo, as he marked the anniversary of an inspired managerial appointment. But whether Simeone is still inspiring, still patrolling the touchline in his dark suit next December, marking 12 years in charge, likely depends on an uptick in form in early 2023.
Atletico are keeping tabs on alternatives. Luis Enrique, who stepped down as Spain coach after the World Cup, would be high on the shortlist of possible successors.
Simeone has never imagined he would not, one day, move on. He would relish coaching Argentina. But as of last Sunday, when unsung Lionel Scaloni guided the country to the greatest prize in football, there is clearly no imminent vacancy there.
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Read more about the coronavirus
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
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Available: Now
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Brief scores:
Scotland 371-5, 50 overs (C MacLeod 140 no, K Coetzer 58, G Munsey 55)
England 365 all out, 48.5 overs (J Bairstow 105, A Hales 52; M Watt 3-55)
Result: Scotland won by six runs
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
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KILLING OF QASSEM SULEIMANI
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.”
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
IF YOU GO
The flights: FlyDubai offers direct flights to Catania Airport from Dubai International Terminal 2 daily with return fares starting from Dh1,895.
The details: Access to the 2,900-metre elevation point at Mount Etna by cable car and 4x4 transport vehicle cost around €57.50 (Dh248) per adult. Entry into Teatro Greco costs €10 (Dh43). For more go to www.visitsicily.info
Where to stay: Hilton Giardini Naxos offers beachfront access and accessible to Taormina and Mount Etna. Rooms start from around €130 (Dh561) per night, including taxes.
AGL AWARDS
Golden Ball - best Emirati player: Khalfan Mubarak (Al Jazira)
Golden Ball - best foreign player: Igor Coronado (Sharjah)
Golden Glove - best goalkeeper: Adel Al Hosani (Sharjah)
Best Coach - the leader: Abdulaziz Al Anbari (Sharjah)
Fans' Player of the Year: Driss Fetouhi (Dibba)
Golden Boy - best young player: Ali Saleh (Al Wasl)
Best Fans of the Year: Sharjah
Goal of the Year: Michael Ortega (Baniyas)
Company profile
Name: One Good Thing
Founders: Bridgett Lau and Micheal Cooke
Based in: Dubai
Sector: e-commerce
Size: 5 employees
Stage: Looking for seed funding
Investors: Self-funded and seeking external investors