Noni Madueke hit a hat-trick as Chelsea crushed Wolves 6-2 to give Enzo Maresca his first Premier League win as Blues manager on Sunday.
Maresca suffered a 2-0 loss against Manchester City last weekend in his first game since arriving from Leicester to replace Mauricio Pochettino in the close-season.
But they hit the goals trail in style this weekend with England attacker Cole Palmer opening his account for the season as well supplying all three of Madueke's treble. Nicolas Jackson and Joao Felix provided the first and last goals, respectively.
“It is unbelievable,” said Madueke of his teammate. “He is cold and I am fire so it mixes well. He has the ability to always play a pass at the right time. I like to get the ball in space, beat people and make things happen, so luckily today it worked.”
Chelsea got off the mark under Maresca with a Uefa Conference League play-off victory against Servette on Thursday, but that low-key success was only the prelude to their goal spree at Molineux.
Maresca's side made the perfect start after just 98 seconds when Matheus Cunha could only flick his attempted clearance from a corner towards Jackson, who was left unmarked to head in from six yards.
Jackson's goal infuriated Wolves fans already angry with Chelsea after Madueke posted and then deleted an abusive description of Wolverhampton just hours before kick-off for which he apologised after the match.
Cunha, though, hauled the hosts level in the 27th minute as the Brazilian forward tormented the Blues again after last season's hat-trick at Stamford Bridge.
Chelsea's Moises Caicedo carelessly lost possession and Rayan Ait-Nouri drove forward before teeing up Cunha, whose fierce strike flashed past Robert Sanchez and sparked a samba-dancing goal celebration.
Palmer restored Chelsea's advantage in the 45th minute, the England forward taking Jackson's flick and lobbing a sublime finish over Wolves keeper Jose Sa.
The Blues made a hash of clearing Ait-Nouri's free-kick seconds before the half-time whistle and Toti headed it across to Jorgen Strand Larsen, who poked home from close-range.
But the rollercoaster clash switched back in Chelsea's favour in the 49th minute as Palmer found Madueke and his shot deflected in off Ait-Nouri.
Madueke struck again nine minutes later, slotting a composed finish through Sa's legs after Palmer's run unhinged the creaky Wolves defence.
The 22-year-old completed his treble with a carbon copy of his two previous goals, once again finishing off another Palmer assist to silence the Wolves boo-boys.
“In the first 10 minutes he had two chances and overall he was very good,” Marecsa said of a player who has been linked with a move away from Stamford Bridge.
“The only thing I didn't like from Noni is the free-kick he gave away before half-time and we can avoid that. especially against a team who are good from set-pieces.”
Felix came off the bench to cap the rout in the 80th minute as the Portugal forward marked his first game back at Chelsea following his permanent move from Atletico Madrid earlier in the week.
Felix, who spent the second half of the 2022-23 season on loan at Chelsea, blasted into the top corner after former Wolves forward Pedro Neto picked him out.
“The performance was good,” said Maresca. “The first half was not a complete performance, we started well in the first 10 to 15 minutes, we scored a goal and had two or three more chances.
“Then we lost a few easy balls. When you want to build from behind you cannot allow yourself to lose easy balls otherwise you concede set pieces and counter attacks. You need to be more accurate.
“Second half the team was more accurate. They did not give away any easy balls and overall the performance was good.”
Two defeats on the spin, meanwhile, leaves Wolves avoiding bottom spot in the table by goal difference only. “We lost our way. They were unacceptable [errors] from us,” said Wolves manager O'Neill.
“I am all for positivity and when the lads do well they know they have done well, but from all of us as a group to concede those three [second-half] goals as we do is unacceptable.”
Naga
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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.
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Retail gloom
Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.
It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.
The group added that a 15 per cent drop in customer basket size offset an 11.6. per cent rise in the number of customer transactions.
RESULTS
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MATCH INFO
Newcastle 2-2 Manchester City
Burnley 0-2 Crystal Palace
Chelsea 0-1 West Ham
Liverpool 2-1 Brighton
Tottenham 3-2 Bournemouth
Southampton v Watford (late)
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Company%20profile
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A list of the animal rescue organisations in the UAE
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.”
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
