Fifa Club World Cup 2023: Players to watch, team profiles and how they qualified

Beginning Tuesday, Saudi Arabia will for the first time host the Fifa Club World Cup, with the kingdom represented at the seven-team tournament in Jeddah by Saudi Pro League champions Al Ittihad.

Current Uefa Champions League holders Manchester City debut at the tournament, alongside the likes of Egyptian giants Al Ahly and South American counterparts Fluminense.

Al Ittihad (Saudi Arabia)

How they qualified: 2022/23 Saudi Pro League winners

With the host nation always represented by its reigning champion, the Jeddah side booked their spot at the home event by capturing a first Saudi top-flight in 14 years. Ittihad pipped to the title Cristiano Ronaldo’s Al Nassr with one match to spare.

Previous Club World Cup participations: 1

Ittihad competed in the tournament in Japan 2005, where they saw off Egypt’s Al Ahly to reach the semi-final. They then lost a dramatic last-four encounter with Brazil’s Sao Paulo, when they were beaten 3-2.

Manager: Marcelo Gallardo

The renowned Argentine had carved an incredible coaching career with boyhood club River Plate, winning 14 trophies during an eight-year spell. As most South Americans do, Gallardo clearly cherishes the Club World Cup; in 2015, he went oh so close to winning, only to lose the final in Japan to Barcelona. Appointed Ittihad manager just last month – even still, the pressure will be on to guide his new side to a strong showing on home soil.

Key player: Karim Benzema

The high-profile signing that sparked an unprecedented summer transfer window for the Saudi Pro League – of course, Ronaldo laid the foundations last December – the 2022 Ballon d’Or winner has enjoyed Club World Cup success, too. With Real Madrid, Benzema lifted the trophy five times, including twice in Abu Dhabi (2017, 2018). Has four goals thus far in the competition, with one coming in each of the 2016 and 2022 finals.

Manchester City (England)

How they qualified: 2022/23 Uefa Champions League winners

Already the English Premier League champions and FA Cup winners, the Manchester side emulated the class of 1999 across at neighbours United by completing the treble, when they defeated Inter Mian 1-0 in the final in Istanbul – the club’s first Champions League success.

Previous Club World Cup participations: 0

Manager: Pep Guardiola

Not only has the Spaniard won practically everything during his seven-year tenure with City – 13 major trophies and counting – but he has sampled success in the Club World Cup already as well. Guardiola led Barcelona to the intercontinental title in 2009 and 2011, the first coming in Abu Dhabi to give the Catalan club a record six trophies in a calendar year.

Key player: Erling Haaland

An immediate success following last year’s move from Borussia Dortmund, the prolific Norwegian set about breaking a plethora of records, spanning both the Premier League and Champions League. Was top scorer in the English top-flight, scoring a Premier League record 36 goals in 35 appearances. Led the way in the Champions League, too, with 12 goals. Last month, Haaland became the fastest player to 50 Premier League goals – it took him only 48 matches.

Felipe Melo and Nino of Fluminense pose with the Copa Libertadores on November 22, 2023 in Rio de Janeiro, Brazil. Getty

Fluminense (Brazil)

How they qualified: 2023 Copa Libertadores winners

Were the final team to book their spot at the Club World Cup when last month they defeated Boca Juniors 2-1 after extra-time in a dramatic final that saw a player from both sides sent off. In beating the six-time South American champions, Fluminense captured the continental trophy for the first time.

Previous Club World Cup participations: 0

Manager: Fernando Diniz

In his second stint at the club he represented as a player, the Brazilian earned his place in Fluminense folklore by delivering the most prestigious trophy in South American club football. His exploits domestically garnered attention on the international stage, too, with Diniz appointed interim coach of the Brazil national team in July. Given his preference for playing “Tiki-taka” football, he has been dubbed the “Brazilian Guardiola”.

Key player: German Cano

An Argentine at the heart of the Brazilian club’s recent success, the striker has been a revelation since joining in December 2021. Not only has Cano netted 59 goals in 95 league appearances, but he fired Fluminense to that historic Copa Libertadores crown. His 13 goals sealed the Golden Boot, with Cano scoring three in the quarter-finals, three in the semis, and the opener in the final.

Percy Tau was pivotal to Al Ahly's CAF Champions League success. Reuters

Al Ahly (Egypt)

How they qualified: 2022/23 Caf Champions League winners

A late equaliser in the second leg of the final secured a 1-1 draw with Morocco’s Wydad Casablanca to give a 3-2 aggregate victory. In winning, the Egyptian heavyweights won Africa’s premier club prize for a record-extending 11th time.

Previous Club World Cup participations: 8

The Cairo club’s best performances came in 2006, 2020 and 2021, when they finished third. They lost the 2021 semi-final, in Abu Dhabi, to Brazil’s Palmeiras.

Manager: Marcelo Koller

Considered a club legend as a long-serving player for Grasshoppers Zurich, the Swiss has enjoyed plenty of success since taking charge of Ahly in September last year. In that time, Koller guided his side to the Egyptian Super Cup title twice – the first was won in Al Ain – the Egypt Cup, the African Champions League, and then the 2022/23 Egyptian Premier League trophy – where they were defeated only once.

Key player: Percy Tau

Work-permit issues scuppered the South African forward’s time at Brighton where, although he eventually made three Premier League appearances, spent the vast majority of his three years out on loan. Having signed for Ahly in the summer of 2021, was pivotal to the Champions League success, scoring five goals, including one in each of the semi-final and final. In the showpiece, Tau set Ahly on their way to continental glory, notching the opener in the 2-1 first-leg win against Wydad.

Urawa Reds Player clinched the 2022 Asian Champions League trophy with a 2-1 aggregate win over Saudi Arabia's Al Hilal. Getty

Urawa Red Diamonds (Japan)

How they qualified: 2022 Asian Champions League winners

The Japanese side were crowned continental champions for a third time having come through a two-legged final against record winners Al Hilal 2-1 on aggregate. Urawa followed the 1-1 draw in Riyadh with a single-goal victory in the return – sealed by an own goal from Hilal's Andre Carillo.

Previous Club World Cup participations: 2

Urawa finished third on debut, and on home soil, in 2007, when they were knocked out in the semi-final by AC Milan. A decade later, in the UAE, they lost their second-round tie against hosts Al Jazira in Abu Dhabi.

Manager: Maciej Skorza

This Club World Cup marks a strange one for the Pole, whose departure as Urawa manager was confirmed last month. Even with Per-Mathias Hogmo announced as his replacement, Skorza will take charge for however long their stay in Jeddah lasts. Was appointed Urawa manager 13 months ago, when the side had already sealed a place in the Champions League final. However, should be celebrated for delivering the trophy for the first time in five years.

Key player: Atsuki Ito

Capable of playing at centre-back or as a defensive midfielder, it’s in the latter position that the Japan international has excelled for Urawa. Ito began his professional career with the club before spending three years at university, then returned to Urawa in 2021. Since, he's help his side to the Emperor’s Cup, the Japanese Super Cup and the Champions League. Deservedly named in the J League’s Best XI for 2023 as Urawa finished fourth.

Leon's Fidel Ambriz, left, was named best young player in the 2023 Concacaf Champions League. EPA

Club Leon (Mexico)

How they qualified: 2023 Concacaf Champions League winners

The Mexican club, runners-up 30 years previously in their only other final appearance, made history by defeating Los Angeles FC 3-1 on aggregate to claim a first Champions League title. Triumphed 2-1 at home in the first leg, before landing the trophy thanks to a 1-0 win in the US.

Previous Club World Cup participations: 0

Manager: Nicolas Larcamon

Forced to retire from playing professionally at 22, the Argentine first focused on his studies until coaching became his true calling. Giving up architecture, Larcamon entered the managerial game at youth level aged 25 and held senior positions in Venezuela, Chile and Mexico. Installed as Leon manager in November last year, etching his name in the club’s history books by leading them to a first continental success. From footballing stock: both his father and uncle played professionally in Argentina.

Key player: Fidel Ambriz

While top scorer Victor Davila’s incredible Champions League display earned him a move to CSKA Moscow, his now-former teammate continues to be integral to the club. At 20 years and one month, Ambriz became the youngest goalscorer in the 2023 competition when he netted in the second leg of the semi-finals against fellow Mexican side Tigres. The defensive midfielder, who appeared in seven Champions League matches, was later named the tournament's best young player.

Auckland City FC (New Zealand)

How they qualified: 2023 OFC Champions League winners

The Club World Cup stalwarts are back in the tournament courtesy of yet another continental victory, when they defeated Fiji’s Suva 4-2 after extra-time to successfully defend the trophy. In doing so, they lifted it for a record 11th time.

Previous Club World Cup participations: 10

The New Zealanders hold the record for Club World Cup appearances – Ahly sit second – having debuted in 2006. In 2014, they created one of the greatest upsets in tournament history when they saw off Cruz Azul on penalties in Morocco to take third place.

Manager: Albert Riera

Hugely successful across two spells as a midfielder with Auckland – one league title, three Champions League crowns – the Spaniard returned in December 2021 to try to emulate at least some of that from the dugout. Riera started his coaching career as an assistant at West Coast Rangers but, having been promoted to manager, could not prevent the club from being relegated from New Zealand’s top tier. Considered a club legend at Auckland.

Key player: Cameron Howieson

With no obvious weaknesses to his game, the all-action attacking midfielder creates goals, scores, and keeps his side ticking. Howieson began his professional career in England with Burnley in 2012, then spent time with Doncaster and Scotland’s St Mirren before returning to New Zealand seven years ago. Has played in two Club World Cups. A New Zealand international despite being eligible to represent Scotland, England and Samoa.

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FFP EXPLAINED

What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

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Director: S Shankar

Producer: Lyca Productions; presented by Dharma Films

Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey

Rating: 3.5/5 stars

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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

How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

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Director: Jesse Armstrong

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The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
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Most sought after workplace benefits in the UAE

Flexible work arrangements
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Mental well-being assistance
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UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

GAC GS8 Specs

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Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

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Naga

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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.”

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FIXTURES

All times UAE ( 4 GMT)

Friday
Saint-Etienne v Montpellier (10.45pm)

Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)

Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
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Company Profile

Company name: Yeepeey

Started: Soft launch in November, 2020

Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani

Based: Dubai

Industry: E-grocery

Initial investment: $150,000

Future plan: Raise $1.5m and enter Saudi Arabia next year

Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

COMPANY PROFILE

Name: HyperSpace

Started: 2020

Founders: Alexander Heller, Rama Allen and Desi Gonzalez

Based: Dubai, UAE

Sector: Entertainment

Number of staff: 210

Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners

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Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

Fifa Club World Cup 2023: Players to watch, team profiles and how they qualified

Hosts Al Ittihad kick off their campaign with a match against OFC Champions League holders Auckland City in Jeddah on Tuesday

Al Ittihad (Saudi Arabia)

Manchester City (England)

Fluminense (Brazil)

Al Ahly (Egypt)

Urawa Red Diamonds (Japan)

Club Leon (Mexico)

Auckland City FC (New Zealand)

The%20specs

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FFP EXPLAINED

2.0

PETER%20PAN%20%26%20WENDY

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