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.”
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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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
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.”
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Jetour T1 specs
Engine: 2-litre turbocharged
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The specs: 2018 Nissan Altima
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Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
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Fuel consumption, combined: 7.6L / 100km
Company profile
Date started: December 24, 2018
Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer
Based: Dubai Media City
Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)
Sector: ConsumerTech and FinTech
Cashflow: Almost $1 million a year
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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