Cristiano Ronaldo has played down the significance of his old rival Lionel Messi's move to the United States by claiming that the Saudi Pro League is stronger than Major League Soccer.
The 38-year-old also closed the door on ever returning to European football and insists he is totally committed to his Saudi Arabian club Al Nassr.
Messi was unveiled as MLS club Inter Miami's superstar new signing on Sunday with thousands of fans turning out in the pouring rain to welcome their new hero, who turned down the chance to join Ronaldo in the kingdom this season.
Hopes are high in the US that the arrival of the 36-year-old seven-time Ballon d'Or winner, who spent the last two seasons in the French capital with Paris Saint-Germain, can be a transformative one for the league.
Inter Miami co-owner David Beckham described the signing as a “dream come true” for the club, while MLS commissioner Don Garber said: “We have no doubt that Lionel will show the world that MLS can be a league of choice for the best players in the game.
But Ronaldo – speaking after Al Nassr's 5-0 friendly humbling against Celta Vigo in Portugal on Monday – believes that his presence in the Middle East is the start of something special for the Saudi league.
“100 per cent. It’s a fact,” Ronaldo said. “It was going to take a year, but it was six months. I was wrong for six months.
“But I knew this was going to happen because in the Italian league, when I went there, it was also dead and then rejuvenated.
“Where Cristiano goes, it generates greater interest and I knew it was going to be like that. I’m sure that next season more stars will go there [to Saudi Arabia].
“In one year, more and more top players will come to Saudi. In a year the Saudi league will overtake the Turkish league and Dutch league."
Ronaldo also insisted he would not be interested in a move to the MLS: “I think the Saudi league is much better than the United States. My team is Al Nassr.”
Ronaldo joined Al Nassr in January following his exit from Manchester United and said in May that he believed the Saudi Pro League would go on to become one of the top five leagues in the world but would “need time, players and infrastructure”.
This summer has seen a host of elite players move to Saudi Arabia, including current Ballon d'Or winner Karim Benzema from Real Madrid, Ronaldo's Portuguese teammate Ruben Neves from Wolves and Chelsea midfielder N'Golo Kante.
The could yet be joined by Liverpool midfielders Jordan Henderson and Fabinho.
When asked if would ever consider a move back to European football before the end of his career, Ronaldo added: “No, that door is completely closed. I’m already 38-and-a-half years old and it’s not worth it.
“In my way of seeing football, I think Europe has lost a lot of quality. The only league that for me has a lot of quality and is at a higher level than all the others is the Premier League.
“The Spanish league does not have that great quality. The Portuguese league is a good league, but it is not a top, top league. The German league I think has also lost a lot. I’m sure I won’t play in Europe again. I want to play in Saudi Arabia.”
His club, meanwhile, will be hoping the only way is up after their pre-season thrashing at Estadio Algarve against Celta Vigo, who finished their last campaign 13th in La Liga.
After a goalless first half, Al Nassr capitulated in spectacular fashion with Norwegian forward Jorgen Strand Larsen and Spanish winger Miguel Rodriguez both grabbing doubles.
Captain Ronaldo played 45 minutes while Croatian midfielder Marcelo Brozovic, who joined from Serie A side Inter Milan at the start of July, was given nearly an hour of game time.
The Riyadh-based club – who finished second behind champions Al Ittihad in the Saudi Pro League last season – also face daunting friendlies against Benfica, Messi's former club PSG and Champions League finalists Inter.
“The plan was for me to play 45 minutes today,” Ronaldo said. “Against Benfica [on Thursday], I might play 60 or 70 minutes. It is better to fine-tune the machine little by little to reach the best form.”
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.”
MATCH INFO
Bayern Munich 2 Borussia Monchengladbach 1
Bayern: Zirkzee (26'), Goretzka (86')
Gladbach: Pavard (37' og)
Man of the Match: Breel Embolo (Borussia Monchengladbach)
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Match info
Who: India v Afghanistan
What: One-off Test match, Bengaluru
When: June 14 to 18
TV: OSN Sports Cricket HD, 8am starts
Online: OSN Play (subscribers only)
RESULTS
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Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
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
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Killing of Qassem Suleimani
