Kylian Mbappe, currently on international duty with France for the upcoming Euro 2024 qualifiers, could be set to leave PSG this summer. AFP
Kylian Mbappe, currently on international duty with France for the upcoming Euro 2024 qualifiers, could be set to leave PSG this summer. AFP
Kylian Mbappe, currently on international duty with France for the upcoming Euro 2024 qualifiers, could be set to leave PSG this summer. AFP
Kylian Mbappe, currently on international duty with France for the upcoming Euro 2024 qualifiers, could be set to leave PSG this summer. AFP

Sport

Football

Real Madrid ready to make Kylian Mbappe bid, N'Golo Kante set to complete Al Ittihad move

Sergio Ramos could also be on his way to the Saudi Pro League, while West Ham line up replacements for Declan Rice

Abbie Ingham

June 14, 2023

  • English
  • Arabic

With the 2022/23 football season now completed following Manchester City's Champions League triumph, attention has turned to the summer transfer window as clubs get busy reshaping their squads during the off-season.

This is traditionally a time of continuing speculation, so here we take a look at the latest rumours and determine which have substance and which seem unlikely.

Strong chance

Real Madrid are preparing an offer to sign Kylian Mbappe this summer, reports ESPN. The 24-year-old forward could be set to depart Paris Saint-Germain this summer, after it was revealed that the France international sent a letter to the Ligue 1 champions to inform them that he would not extend his current deal, which is set to expire in 2024. PSG are reluctantly willing to part ways with their superstar striker this summer to avoid losing him on a free transfer and it is understood that they would accept an offer in the region of €150 million.

Strong chance

Lucas Hernandez is poised for move to PSG after refusing to extend his contract with Bayern Munich, as per Sky Sports Germany. The 27-year-old defender has turned down a contract renewal that would have kept him at the club beyond 2024. Hernandez is now set for a move away from Germany this transfer window, and it is understood Bayern will ask for €60m excluding bonus payments for the France international. The player is reportedly eager to swap the Allianz Arena for the Parc des Princes this summer.

Strong chance

N'Golo Kante will shortly be announced as an Al Ittihad player, according to Italian journalist Fabrizio Romano. The Chelsea midfielder is expected to complete a medical in Saudi Arabia, with his contract set to expire later this month. The 32-year-old is set to join fellow former France teammate Karim Benzema in Jeddah, after the former Real Madrid forward’s move was announced last week.

Potential

After deciding against a move for West Ham midfielder Declan Rice, the main priority for Bayern Munich is to find a striker this summer, and according to Sky Sport Germany, they are looking at Randal Kolo Muani. The 24-year-old France international scored 15 goals and provided 14 assists in 32 Bundesliga appearances for Eintracht Frankfurt this season, but it is reported that the German club are not planning to offer Kolo Muani an extended deal with a larger salary, with his current contract expiring in 2027.

N'Golo Kante is expected to be announced as an Al Ittihad player. Getty
N'Golo Kante is expected to be announced as an Al Ittihad player. Getty

Potential

The future of Sergio Ramos will be decided soon, according to Italian journalist Rudy Galetti. The 37-year-old defender will be a free agent when his contract with PSG expires this month and has been previously linked to both Al-Ahli and Al-Nassr in Saudi Arabia. The Spanish defender is reportedly tempted by a move to the Saudi Pro League, with a reported offer of €30m per season, and with a meeting reportedly taking place in the coming days, the Saudi Ministry of Sport is confident they will reach an agreement.

Potential

Georginio Wijnaldum is in negotiations to return to Feyenoord, according to Football Insider. The 32-year-old midfielder spent the last season on loan to Roma, but the Giallorossi decided against triggering the option to buy the Netherlands international. Wijnaldum only has one year remaining on his current deal with PSG and is reportedly pushing for a return to his boyhood club, who he joined in 2004 aged 13, and he made his debut for the Eredivisie side three years later at 16 years old.

Potential

West Ham reportedly view Valencia’s Yunus Musah as their ideal replacement for the departing Rice. Estadio Deportivo reports that the 20-year-old midfielder’s agent met with Miguel Angel Corona, Valencia's sporting director, to discuss his future. The report suggests that the United States international could be available for just over £21m, as David Moyes looks to replace his captain, with the England international tipped for a move to fellow Premier League side Arsenal.

KILLING OF QASSEM SULEIMANI
What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

While you're here
While you're here
Conflict, drought, famine

Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

Band Aid

Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

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.”

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

TEACHERS' PAY - WHAT YOU NEED TO KNOW

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

Learn more about Qasr Al Hosn
While you're here
ESSENTIALS

The flights 
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes. 
Where to stay 
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.

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4.35pm: Tilal Al Khalediah
5.10pm: Continous
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6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
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8.50pm: Calandogan
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How to become a Boglehead

Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.

•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

•   Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.

•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

Suggested picnic spots

Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
 
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes 

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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.

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Yadoo’s House Restaurant & Cafe

For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.

Golden Dallah

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Al Mrzab Restaurant

For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.

Al Derwaza

For the fish hubul, regag bread, biryani and special seafood soup. 

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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

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May 2025

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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

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November 2025

180 Petrofac employees laid off in the UAE

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Updated: June 14, 2023, 4:05 AM
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