• (4-3-3): GK: Alphonse Areola (West Ham): It was a weekend of top goalkeeper performances, with Alisson and Jose Sa excelling for Liverpool and Wolves respectively. But the gloves go to Areola for a series of gravity-defying saves to help West Ham register an impressive 3-1 win at previously unstoppable Brighton. Reuters
    (4-3-3): GK: Alphonse Areola (West Ham): It was a weekend of top goalkeeper performances, with Alisson and Jose Sa excelling for Liverpool and Wolves respectively. But the gloves go to Areola for a series of gravity-defying saves to help West Ham register an impressive 3-1 win at previously unstoppable Brighton. Reuters
  • RB: Matty Cash (Aston Villa): Malo Gusto was superb for Chelsea with a pair of assists but a brace for Cash in Villa’s 3-1 win at Burnley earns the Poland international a deserved place in this week’s XI. PA
    RB: Matty Cash (Aston Villa): Malo Gusto was superb for Chelsea with a pair of assists but a brace for Cash in Villa’s 3-1 win at Burnley earns the Poland international a deserved place in this week’s XI. PA
  • CB: Joachim Andersen (Crystal Palace): What a start to the season the Danish defender is having. Excellent defensively in the first two matches, Andersen popped up with the crucial equaliser to earn Palace a 1-1 draw at Brentford. Getty
    CB: Joachim Andersen (Crystal Palace): What a start to the season the Danish defender is having. Excellent defensively in the first two matches, Andersen popped up with the crucial equaliser to earn Palace a 1-1 draw at Brentford. Getty
  • CB: Micky van de Ven (Tottenham): A superb defensive display from the Dutchman as Tottenham maintained their encouraging start to the season with a 2-0 win at Bournemouth. After a shaky start in a Spurs shirt, Van de Ven looked more like a €50 million defender at the Vitality Stadium. Reuters
    CB: Micky van de Ven (Tottenham): A superb defensive display from the Dutchman as Tottenham maintained their encouraging start to the season with a 2-0 win at Bournemouth. After a shaky start in a Spurs shirt, Van de Ven looked more like a €50 million defender at the Vitality Stadium. Reuters
  • LB: Josko Gvardiol (Manchester City): Three games into his City career and it’s already clear that the Croatian defender is special. Full of class and quality, both defensively and when venturing forward, as City survived a scare to beat Sheffield United 2-1. AP
    LB: Josko Gvardiol (Manchester City): Three games into his City career and it’s already clear that the Croatian defender is special. Full of class and quality, both defensively and when venturing forward, as City survived a scare to beat Sheffield United 2-1. AP
  • CM: Rodri (Manchester City): City may have collectively been below their best at Bramall Lane, but Rodri was still a cut above. Dominated the midfield, as usual, and popped up with a well-taken matchwinner to earn all three points for the champions. Getty
    CM: Rodri (Manchester City): City may have collectively been below their best at Bramall Lane, but Rodri was still a cut above. Dominated the midfield, as usual, and popped up with a well-taken matchwinner to earn all three points for the champions. Getty
  • CM: Bruno Fernandes (Manchester United): A proper captain’s performance to lead a United recovery from falling 2-0 down inside the first four minutes against Nottingham Forest. Provided a superb headed assist for Casemiro’s equaliser, before keeping his cool to score the winner from the penalty spot. AFP
    CM: Bruno Fernandes (Manchester United): A proper captain’s performance to lead a United recovery from falling 2-0 down inside the first four minutes against Nottingham Forest. Provided a superb headed assist for Casemiro’s equaliser, before keeping his cool to score the winner from the penalty spot. AFP
  • CM: James Maddison (Tottenham): An early shout for signing of the season? The England playmaker scored his first goal for Spurs in the win at Bournemouth and provided a constant threat with his creativity and ability on the ball. Reuters
    CM: James Maddison (Tottenham): An early shout for signing of the season? The England playmaker scored his first goal for Spurs in the win at Bournemouth and provided a constant threat with his creativity and ability on the ball. Reuters
  • RF: Raheem Sterling (Chelsea): Never deserved to be on the losing side against West Ham, and was once again by far the best player on the pitch as Chelsea registered their first win of the season with a comfortable 3-0 stroll past Luton Town. Sterling scored the first two goals and constantly terrified the life out of the Luton defence. It’s not premature to say he looks back to his best. Getty
    RF: Raheem Sterling (Chelsea): Never deserved to be on the losing side against West Ham, and was once again by far the best player on the pitch as Chelsea registered their first win of the season with a comfortable 3-0 stroll past Luton Town. Sterling scored the first two goals and constantly terrified the life out of the Luton defence. It’s not premature to say he looks back to his best. Getty
  • LF: Moussa Diaby (Aston Villa): Already justifying the hype from when Aston Villa signed him this summer from Bayer Leverkusen. After ripping Hibernian to shreds in the Europa League in midweek, the France international was central to Villa’s 3-1 win at Burnley, assisting Cash’s second goal and scoring the third with a classy first-time finish. PA
    LF: Moussa Diaby (Aston Villa): Already justifying the hype from when Aston Villa signed him this summer from Bayer Leverkusen. After ripping Hibernian to shreds in the Europa League in midweek, the France international was central to Villa’s 3-1 win at Burnley, assisting Cash’s second goal and scoring the third with a classy first-time finish. PA
  • CF: Darwin Nunez (Liverpool): A devastating 20-minute cameo from the Uruguayan striker. Sent on in the 77th-minute as 10-man Liverpool chased an equaliser at Newcastle United, Nunez produced two lethal finishes to earn the Reds a dramatic 2-1 victory. Spells like this suggest he can have a prolific season following his inconsistent debut campaign. Reuters
    CF: Darwin Nunez (Liverpool): A devastating 20-minute cameo from the Uruguayan striker. Sent on in the 77th-minute as 10-man Liverpool chased an equaliser at Newcastle United, Nunez produced two lethal finishes to earn the Reds a dramatic 2-1 victory. Spells like this suggest he can have a prolific season following his inconsistent debut campaign. Reuters

Sport

Football

Nunez leads attack after devastating double for Liverpool: Premier League team of the week

Two Manchester City players also included after role in 2-1 win at Sheffield United to extend perfect start

Jon Turner

August 28, 2023

  • English
  • Arabic

It all seems to be going on at Liverpool Football Club at the moment.

On a day when fresh speculation emerged strongly linking star player Mohamed Salah with a move to Saudi Arabia, and as the club continues to flap in the transfer market, Jurgen Klopp took his team to St James' Park for a tough Premier League encounter with Newcastle United.

The assignment was made all the more challenging when Liverpool, already trailing 1-0 when Anthony Gordon latched on to a Trent Alexander-Arnold howler to open the scoring, were reduced to 10 men for a second successive week. While the club successfully overturned Alexis Mac Allister's red card against Bournemouth, it's unlikely they'll have the same luck with Virgil van Dijk's dismissal.

For much of the remaining hour or so, it felt like damage limitation. That was until Darwin Nunez emerged from the bench to fire a lethal late double and hand Liverpool a dramatic victory over a shell-shocked Newcastle.

It capped another entertaining weekend of Premier League football, which began on Friday night at Stamford Bridge where Chelsea eased to their first win of the season with a comfortable 3-0 breeze past struggling Luton Town.

Saturday started with the early kick-off at Vitality Stadium as Tottenham continued their post-Harry Kane era with another encouraging victory, this time 2-0 against Bournemouth.

There was then plenty of drama at Emirates Stadium where Arsenal looked to be easing to victory with a 2-1 lead over 10-man Fulham only to concede a late equaliser, while Manchester United fought back from trailing 2-0 in the opening four minutes against Nottingham Forest to win 3-2 at Old Trafford.

More alarm bells were sent ringing at Goodison Park when Everton fell to a 1-0 home defeat to Wolves, and there was a 1-1 draw between Brentford and Crystal Palace at Brentford Community Stadium.

In Saturday's late game, West Ham continued their bright start with an impressive 3-1 win at previously high-flying Brighton.

On Sunday, champions Manchester City were below their best but survived a scare against promoted Sheffield United to win 2-1 at Bramall Lane, while Aston Villa eased past Burnley 3-1 at Turf Moor.

Check out the photo gallery above to view our Premier League team of the week. To move on to the next photo, click on the arrows or swipe if using a mobile device.

Sleep Well Beast
The National
4AD

The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
Jonathan Cape

'The Batman'

Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

The End of Loneliness
Benedict Wells
Translated from the German by Charlotte Collins
Sceptre

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

What drives subscription retailing?

Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

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 

 

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

MATCH INFO

Real Madrid 2 (Benzema 13', Kroos 28')
Barcelona 1 (Mingueza 60')

Red card: Casemiro (Real Madrid)

RESULTS
%3Cp%3E%3Cstrong%3E6pm%3A%20Baniyas%20%E2%80%93%20Group%202%20(PA)%20Dh97%2C500%20(Dirt)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20AF%20Alajaj%2C%20Tadhg%20O%E2%80%99Shea%20(jockey)%2C%20Ernst%20Oertel%20(trainer)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E6.35pm%3A%20The%20Pointe%20%E2%80%93%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C200m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Awasef%2C%20Pat%20Dobbs%2C%20Doug%20Watson%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E7.10pm%3A%20Palm%20West%20Beach%20%E2%80%93%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Long%20Kiss%2C%20Jose%20da%20Silva%2C%20Antonio%20Cintra%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E7.45pm%3A%20The%20View%20at%20the%20Palm%20%E2%80%93%20Handicap%20(TB)%20Dh87%2C500%20(D)%201%2C200m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Ranaan%2C%20Tadhg%20O%E2%80%99Shea%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E8.20pm%3A%20Nakheel%20%E2%80%93%20Handicap%20(TB)%20Dh105%2C000%20(D)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Raaeb%2C%20Antonio%20Fresu%2C%20Musabah%20Al%20Muhairi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E8.55pm%3A%20The%20Club%20%E2%80%93%20Handicap%20(TB)%20Dh95%2C000%20(D)%201%2C900m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Qareeb%2C%20Sam%20Hitchcock%2C%20Doug%20Watson%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E9.30pm%3A%20Palm%20Beach%20Towers%20%E2%80%93%20Handicap%20(TB)%20Dh87%2C500%20(D)%201%2C600m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Falsehood%2C%20Adrie%20de%20Vries%2C%20Musabah%20Al%20Muhairi%3C%2Fp%3E%0A

Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar

More coverage from the Future Forum
The specs: Fenyr SuperSport

Price, base: Dh5.1 million

Engine: 3.8-litre twin-turbo flat-six

Transmission: Seven-speed automatic

Power: 800hp @ 7,100pm

Torque: 980Nm @ 4,000rpm

Fuel economy, combined: 13.5L / 100km

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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

KILLING OF QASSEM SULEIMANI

World Cricket League Division 2

In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.

UAE fixtures

Thursday, February 8 v Kenya; Friday, February 9 v Canada; Sunday, February 11 v Nepal; Monday, February 12 v Oman; Wednesday, February 14 v Namibia; Thursday, February 15 final

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

The Sky Is Pink

Director: Shonali Bose

Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf

Three stars

Updated: August 28, 2023, 8:28 AM
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