In the seven years since Claudio Ranieri managed his last match in Serie A, many garlands have been draped over him. Including, he noticed last week, a fresh honour. Some Italians have taken to referring to him as "Sir Claudio", as if his adventures had earned him a knighthood in England, where he enjoyed his finest hour as a manager.
Ranieri is indeed an Italian knight, proud owner of an Order of Merit of the Republic, awarded by his native country to recognise his achievement in guiding Leicester City to a Premier League title, against impossible odds, in 2016. Ranieri has squeezed into his long, varied career three other head coach jobs since Leicester sacked him nine months after the glorious coronation, and the latest will take him right back to the beginning: to his hometown club, Roma, where he will begin his second stint in charge at home to Empoli on Monday.
Sir Claudio. The Tinkerman. The General, as he used to be known in Spain for his straight-backed demeanour and the air of authority that was admired at both Atletico Madrid and at Valencia, at least until things were awry when he tried a second spell at Valencia. “In Italy, England, Spain, they all say: 'Never come back’,” Ranieri observed to this reporter many times; many times he has gone back to places or leagues where he had been praised and sometimes derided, because club chairmen and presidents keep asking him to.
The Ranieri Return is a constant of modern football: he went back to Spain in 2004, having five years earlier overseen most of an Atletico Madrid season that ended in a historic relegation; he went back to England, to the Leicester job, having been last employed in the Premier League more a decade earlier at a Chelsea where his tinkering - too many rotations and substitutions - had been widely blamed for an under-par European campaign and a second-place finish in the league where the West Londoners were financially dominant. He went back to France, last year, to take over at Nantes, partly because he had achieved progress at Monaco in 2013 and 2014, and mainly because he was the hero of Leicester by then.
The task at Roma is spelled out simply: to provide stability and haul Roma into the top four of Serie A by the end of the season, when this short-term salvage contract expires, but might be renewed if he shows some serious Sir-Claudio-style leadership. Only a fortnight ago, he was in London preparing Fulham for a relegation battle at Southampton. He lost that game, and was sacked on the last day of February, having been at Fulham for only 16 league matches.
As his attempt to rescue Fulham - who were in the relegation zone when he was appointed there - floundered, so, conveniently for Ranieri, Roma were hitting the rocks: a hammering by Lazio in the Rome derby last weekend, followed by elimination, in extra time, by Porto in the last 16 of the Champions League meant the end of Eusebio Di Francesco's period in charge.
Ranieri was available, knows the territory, and as Francesco Totti, the former club captain and now club director put it: “He is one of the most expert coaches in the game, and what we need now is expertise.” Totti listed another selling-point for the 67 year old: “He is also a Roma fan.” Quite so. Ranieri was born in Testaccio, close to the city centre, and he played for Roma early in a modest but solid playing career as a workmanlike centre-half.
More important, as a coach, he guided Roma to runners-up spot in Serie A the last time he took charge of the club, a 24-match unbeaten run leading to a thrilling title race with Inter Milan in 2009/10. He took bold decisions - even challenging the feted Totti’s guaranteed spot in the side on occasion - and established himself as a go-to coach at the summit of Italian football. Inter offered him a job seven months after he left Roma; he had already managed Juventus.
“I didn’t think twice,” he said of the call from Roma he answered a matter of hours after handing back his Fulham tracksuit. “For me, it means going back home.”
The initial welcome looks warm: Empoli hover just above the Serie A relegation zone, as do SPAL, where Roma go next weekend. After that, a fiery fixture at home to Napoli, and the visit to the Olimpico stadium of Fiorentina. That’s two ex-employers providing two big tests. Ranieri managed both Napoli and Fiorentina back in the 1990s, on the way to becoming the globetrotting General, the travelling Tinkerman, and finally Sir Claudio the champion.
UAE currency: the story behind the money in your pockets
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Rating: 4 stars
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UAE currency: the story behind the money in your pockets
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Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
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.”
How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Zayed Sustainability Prize
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
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Price, base / as tested: Dh169,995 / Dh192,045
Engine: Turbocharged, 2.0-litre, in-line four-cylinder
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Fuel economy, combined: 10.7L / 100km
THE LOWDOWN
Photograph
Rating: 4/5
Produced by: Poetic License Motion Pictures; RSVP Movies
Director: Ritesh Batra
Cast: Nawazuddin Siddiqui, Sanya Malhotra, Farrukh Jaffar, Deepak Chauhan, Vijay Raaz
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
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
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
THREE
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How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia scheduled for October 10
