Construction work is under way at Internazionale’s secluded training site at Appiano Gentile, north of Milan, accommodation buildings being extended, the campus modernised. If he had his way the Inter head coach, Antonio Conte, would ask that a small plaque be mounted somewhere near the new doorways the players pass through on their way to the pitches. Beware Vertigo, it would read.
Inter are top of the Serie A table, and if they defeat Roma in San Siro on Friday night their lead over champions Juventus, who go to Lazio on Saturday, will grow to four points and guarantee top spot through the weekend.
Heady stuff for a team under a new coach, and one who repeatedly complains he is too short-staffed for this sort of pace setting. But as this is Inter, a club notorious over the last 30 years for finding ingenious ways to choke while in front, Conte will not be taking anything for granted.
Nor will those players who have already experienced the Inter jitters. This time two years ago, under Luciano Spalletti, they were also proudly at the summit of Serie A.
They then held serial champions Juve to a draw, to stay top into the third week of December.
After that, the vertigo they suffered either side of Christmas was of a very malign strain: Inter went eight matches without a win. They finished the season by just scraping into fourth place on the last day, 23 points behind Juve.
Conte is alive to the symptoms, and, being Conte, diagnoses them with a brusque bedside manner. After he had watched his Inter let a 2-0 win at Borussia Dortmund in the Champions League turn into a 3-2 defeat a month ago, he roll-called the lack of medals in his squad. “Apart from Diego Godin – ex of Atletico Madrid – these players have not won things, and so they have a lack of experience,” Conte seethed.
Besides which, they were all overworked, he added, returning to a favourite theme: “The squad is too limited, in numbers and overall quality, to compete in Serie A and the Champions League.”
Conte may be spared prolonged exposure to the second of those by the end of Tuesday, when Inter host Barcelona needing a win to guarantee progress to the knockout phase.
Though Conte would appreciate an extended opportunity to confront the perception he is a more skilled manager in domestic theatres – three league titles with Juventus, one with Chelsea – than in European competitions, the suspicion is that depriving Juventus a ninth successive Serie A crown in May would give him almost as much satisfaction as lifting the next European Cup.
Among the footballers whose absence of gold medals he pointed to are a few who probably ought to have won a league title or two.
Players like Samir Handanovic, the 35-year-old goalkeeper who has been setting exemplary standards at Inter since 2012, or Romelu Lukaku, who won a Belgian title as a teenager a decade ago, but passed through Chelsea and Manchester United without collecting the anticipated prizes that had drawn him to those clubs. Lukaku certainly carries a champion price-tag, Inter having paid United around €80m (Dh 32m). So far, he has more than honoured it.
He has 10 goals already from 13 starts in Serie A, in a new league, in a new country that, alas, has more than once subjected him to racial abuse in its stadiums and where he saw his head-to-head with Roma centre-half Chris Smalling, his friend and United colleague until the summer, crassly described as ‘Black Friday’ on the front of one newspaper.
On the pitch, Lukaku, 26, looks entirely at home, not least because of the flourishing attacking partnership forged with Lautaro Martinez, Inter’s foxy Argentinian forward.
They have scored 23 times between them while in tandem. As a point of comparison, that’s a more prolific rate of goals-per-shared-minute this season than the Liverpool pair Mohamed Salah and Sadio Mane, or Barcelona’s happiest of happy couples, Lionel Messi and Luis Suarez.
Conte had envisaged the compatibility when he determinedly pursued Lukaku in the summer transfer window. He and Lautaro quickly established a composite nickname, ‘Lula’ – Martinez, 22, tends to be known as Lautaro – and fed off each other’s strengths, the wiry Lautaro a foil to the imposing Lukaku.
“I have clicked with him straight away,” the Argentinian told Sky Italia, “and he’s a fantastic guy, too. Under previous coaches I found it harder because we played with a single central striker and it used to be the captain, Mauro Icardi [now at Paris Saint-Germain]. This season is better for me, and Conte has brought this intensity. It suits me.”
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
RESULT
Arsenal 0 Chelsea 3
Chelsea: Willian (40'), Batshuayi (42', 49')
If%20you%20go
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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.”
HIV on the rise in the region
A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.
New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
Access to HIV testing, treatment and care in the region is well below the global average.
Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
The specs: 2018 Renault Megane
Price, base / as tested Dh52,900 / Dh59,200
Engine 1.6L in-line four-cylinder
Transmission Continuously variable transmission
Power 115hp @ 5,500rpm
Torque 156Nm @ 4,000rpm
Fuel economy, combined 6.6L / 100km
Bawaal%20
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Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
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THE BIO
Favourite place to go to in the UAE: The desert sand dunes, just after some rain
Who inspires you: Anybody with new and smart ideas, challenging questions, an open mind and a positive attitude
Where would you like to retire: Most probably in my home country, Hungary, but with frequent returns to the UAE
Favorite book: A book by Transilvanian author, Albert Wass, entitled ‘Sword and Reap’ (Kard es Kasza) - not really known internationally
Favourite subjects in school: Mathematics and science
UAE currency: the story behind the money in your pockets
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
COMPANY%20PROFILE
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
The%20specs
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