PARIS // Radamel Falcao continued his return to prominence on Saturday with two goals as AS Monaco kept up their superb form by thumping Nancy 6-0 at the Stade Louis II.
Falcao’s goals, the second of which came from the penalty spot, were followed by a Kylian Mbappe strike moments after his second-half introduction.
Guido Carrillo added two late goals either side of a Fabinho penalty as the principality club moved clear in second place in Ligue 1, three points behind leaders and local rivals Nice.
The win also underlined Monaco’s status as the most prolific side in Europe’s big five leagues, averaging three goals a game after 12 matches. Also they have scored at least six goals on three separate occasions since the start of October.
“We are doing better this year, providing a spectacle,” said manager Leonardo Jardim. “We are also pleased to have the best attack in Europe ahead of Barcelona with Messi, Suarez and Neymar.”
It was all too much for Nancy, who are on the brink of being bought out by a Chinese consortium but also languish in the relegation zone.
Falcao had scored twice in Monaco's 3-0 Uefa Champions League win at home to CSKA Moscow in midweek and was back among the goals in the 25th minute, nodding in from inside the six-yard box after Michael Chretien had turned the ball against his own bar.
He netted a penalty five minutes later after Fabinho had gone down in the box under a Dialo Guidileye foul, and the Colombian now has eight goals in 10 appearances this season.
He even had the ball in the net again just before half time, but this time his effort was ruled out for an offside against Valere Germain.
Jardim’s side are anything but dependent on Falcao, however, as their second-half display showed.
Teenager Mbappe replaced Germain just after the hour and required only two minutes to add his name to the scoresheet, rolling in the loose ball after goalkeeper Guy Roland Ndy Assembe had turned out a Benjamin Mendy cross.
Falcao then made way for the Argentine forward Carrillo, who got Monaco’s fourth three minutes from time, heading in a cross from the left by the marauding Mendy.
The hosts got a fifth when Brazil international Fabinho tucked away another penalty following a Clement Lenglet foul on Corentin Jean.
But they were not done there, making it 6-0 in stoppage time as the exciting Mbappe, 17, set up Carrillo for his second of the day.
Falcao is one of 13 different players to have scored for Monaco in the league this season but Jardim will be crossing his fingers that the former Atletico Madrid man returns unscathed from international duty next week.
“I hope that everything goes well for him and he returns to Monaco OK,” Jardim said.
Unfortunately for Monaco, their performance was played out in front of a desperately sparse crowd in the principality, but they are a real threat to leaders Nice who put their unbeaten league record on the line when they visit Caen on Sunday.
Champions Paris Saint-Germain, six points adrift of Nice in third, host Rennes on Sunday.
Fourth-placed Guingamp came from behind to draw 3-3 at Dijon with Belgian substitute Nill De Pauw equalising in stoppage time.
Toulouse were held to a 1-1 draw at Nantes while Lyon needed an Alexandre Lacazette penalty — his 10th goal of the season — and a Pierre Bengtsson own goal to beat Bastia, who finished the match with nine men, 2-1.
A superb acrobatic effort by Uruguay striker Diego Rolan gave Bordeaux a 2-1 win at home to managerless bottom club Lorient and Lille continue to loiter just above the relegation zone after losing 1-0 at Angers.
On Friday Marseille were beaten 3-1 at Montpellier, leaving new manager Rudi Garcia still without a win after three league games in charge.
RESULTS:
Friday
• Montpellier 3 Marseille 1
Saturday
• Monaco 6 Nancy 0
• Angers 1 Lille 0
• Bordeaux 2 Lorient 1
• Dijon 3 Guingamp 3
• Lyon 2 Bastia 1
• Nantes 1 Toulouse 1
FIXTURES:
Sunday (all times UAE)
• Caen v Nice, 6pm
• Metz v Saint-Etienne, 8pm
• Paris Saint-Germain v Rennes, 11.45pm
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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
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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Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
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Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
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