Spain's Olga Carmona celebrates scoring the winning goal against Sweden in the Women's World Cup semi-final in Auckland, on August 15, 2023. EPA
Spain's Olga Carmona celebrates scoring the winning goal against Sweden in the Women's World Cup semi-final in Auckland, on August 15, 2023. EPA
Spain's Olga Carmona celebrates scoring the winning goal against Sweden in the Women's World Cup semi-final in Auckland, on August 15, 2023. EPA
Spain's Olga Carmona celebrates scoring the winning goal against Sweden in the Women's World Cup semi-final in Auckland, on August 15, 2023. EPA

Spain seal spot in Women's World Cup final after dramatic win over Sweden


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Spain sealed their place in Sunday's Women's World Cup final after a dramatic 2-1 victory over Sweden in Auckland that saw all three goals coming in the last 10 minutes.

In a cagey contest with few chances for either side, the game suddenly sprung into life when 19-year-old Barcelona winger Salma Paralluelo gave Spain an 81st-minute lead.

Sweden – who have now lost back-to-back World Cup semi-finals – levelled seven minutes later when Rebecka Blomqvist smashed the ball first time across the goalkeeper and into the top corner.

But just 93 seconds later, captain Olga Carmona grabbed the winner with a shot that went in off the bar following a corner to spark wild celebrations at Eden Park as La Roja advanced.

They will now face the winner of Wednesday's other semi-final between co-hosts Australia and European champions England.

It is a remarkable turnaround in fortunes for Spain coming less than a year after a player revolt tore the squad apart when 15 players had threatened to quit the team as they were unhappy with manager Jorge Vilda's methods.

The coach exiled them all from the squad and only three of the 15 rebels – Mariona Caldentey, Aitana Bonmati and Ona Batlle – made it to the World Cup.

This historic win for Spain, that sealed their first ever final appearance, came just 15 days after they were beaten 4-0 by Japan in a group match.

“It was a very tough game. It could’ve been difficult to recover from their goal, but we’ve shown that his team can deal with everything,” said Paralluelo, who scored the winner in Spain's quarter-final win over the Netherlands.

“We deserved this. We took this little step, and now we need that final push. We’ve overcome every challenge and now we face the ultimate challenge, the big one.”

It was the same old story for Sweden as they lost for the fourth time in five World Cup semi-finals, having knocked out 2015 and 2019 winners the United States and Japan in their past two matches.

“It felt like a punch in the stomach when they managed to take the lead again straight away. There are no words,” Sweden defender Magdalena Eriksson said.

“I'm incredibly disappointed, we gave everything we had, we even managed to equalise. We fought against a headwind today, we didn't succeed.”

The match looked destined for extra time until the sudden late burst of three goals in eight minutes.

After dominating possession, Spain finally found the breakthrough when Jennifer Hermoso's cross was cleared into the path of Paralluelo and the substitute tucked the ball into the bottom corner.

Their lead was short-lived though as Sweden hit back in the 88th minute when Lina Hurtig headed down a cross for Blomqvist to smash the ball first time across the goalkeeper and into the top corner.

Spain snatched the winner just one minute later when a short corner was played out to Carmona on the edge of the area and she drove the ball from the outside of the box above Zecira Musovic's head, with the goalkeeper unable to get a strong enough hand to keep it out.

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Courtesy: Crystal Intelligence

UAE currency: the story behind the money in your pockets
The stats

Ship name: MSC Bellissima

Ship class: Meraviglia Class

Delivery date: February 27, 2019

Gross tonnage: 171,598 GT

Passenger capacity: 5,686

Crew members: 1,536

Number of cabins: 2,217

Length: 315.3 metres

Maximum speed: 22.7 knots (42kph)

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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Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

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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.”

Updated: August 15, 2023, 1:58 PM