Through the evening of December 22, Zlatan Ibrahimovic's phone barely stopped ringing. The giant Swede had let it be known he was eager to resurrect his career in elite European football, after two years in the American MLS, and, as he tells it, demand was extraordinarily high. "I had more offers aged 38 than when I was 28," Ibrahimovic claimed.
AC Milan, where Ibrahimovic spent two of his seven Serie A seasons in a career striding across most of the world's best leagues, were in pole position, but they nervously anticipated that Ibrahimovic might have second thoughts, a week before the opening of the transfer window.
On December 22, they went to Atalanta and lost 5-0. It was a devastating defeat and left the club in the bottom half of Italy's top division.
Zvonimir Boban, Milan’s chief football officer, rang Ibrahimovic urgently. So did other suitors. “After the Atalanta game, there were lots of calls,” Ibrahimovic said.
Milan were clear: a statement was needed after the humiliating loss. Ibrahimovic would be it. So the player dialled up his old friend Sinisa Mihajlovic, manager of Bologna, to say he would not be joining them, that Milan had a special place in his heart, however sharp their decline.
Ibrahimovic should make his second debut for the club, eight years after he left, and nine seasons after he guided them to their last league title, against Sampdoria at San Siro on Monday. If things go well over the next six months, he can extend the deal beyond what remains of this season and make himself a Milan footballer to the end of the 2020-21 season, when he would be four months shy of 40 years old.
It is a captivating storyline, and one that has already achieved one objective for Milan's fretful executives: to distract from the agony at Atalanta. But Boban, a former great from the champion Milan teams of the 1990s, stressed: “Zlatan is not here as a mascot.”
He has returned to lead, to create, to make Milan feared again, and to address an urgent shortage of goals. The club he is rejoining went into the weekend 15th of the 20 Serie A in terms of attacking potency.
He makes a convincing Peter Pan, an athlete apparently uninhibited by advancing years. Over his last two years with LA Galaxy in Major League Soccer, Ibrahimovic has scored goals at a rate of close to one per game. In his most recent stop on the tour of grand European clubs, Manchester United, the Zlatan of his mid-30s scored 29 times and registered 10 assists in 43 starts.
At United he also picked up a medal that had eluded him, to his irritation, through an otherwise heavily decorated journey through the game. He won a major European trophy, the Europa League, although he was injured for the final, against his old club Ajax, with whom he embarked on the extraordinary run that once made Ibrahimovic the sport’s best guarantor of prizes. Between 2004, his last season with Ajax, whom he had joined from Malmo as a teenager, and 2016, Ibrahimovic finished every season but one at the top of the league.
That was seven times in Serie A, with Juventus, then Inter Milan, and then AC Milan. It was once with Barcelona, where he spent a year of personal discontent but still with medals. It was four times in France, where he was Paris Saint-Germain’s supersized mascot, goal-machine and Ligue 1 figurehead until four years ago.
This Milan episode will not feature any European challenge. The club are excluded from Uefa competitions for having infringed Financial Fair Play guidelines. They are a long way from reaching the qualifying positions - Serie A's top four - for next season's Champions League, too, although that is the target for manager Stefano Pioli, and for Boban and Paolo Maldini, another AC Milan great who serves as technical director.
Milan have a tradition of holding on, or inviting back, former greats and Ibrahimovic will be aware of previous nostalgia reflexes: Ruud Gullit, Andriy Shevchenko and Kaka, Champions League winners with Milan, all came back for a second spell. For none of them was it as fulfilling as their first.
The club genuinely has the affection of the much-travelled Ibrahimovic. He first joined Milan in 2010, from Barcelona, where he had clashed with then Barca manager Pep Guardiola. “Milan gave me back my happiness,” he said at his presentation last week. He promptly put his Milan jersey and scored in a warm-up friendly.
Pioli must now decide whether his comeback at San Siro begins from the bench or in the starting XI. “His joining us is a great present for me,” said the Milan manager. “He is insatiable, and has never stopped seeking to improve and moving with the times.” Of Milan, the same cannot be said.
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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Pakistan T20 series squad
Sarfraz Ahmed (captain), Fakhar Zaman, Ahmed Shahzad, Babar Azam, Shoaib Malik, Mohammed Hafeez, Imad Wasim, Shadab Khan, Mohammed Nawaz, Faheem Ashraf, Hasan Ali, Amir Yamin, Mohammed Amir (subject to fitness clearance), Rumman Raees, Usman Shinwari, Umar Amin
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
21 Lessons for the 21st Century
Yuval Noah Harari, Jonathan Cape
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UAE currency: the story behind the money in your pockets
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.”
FIGHT CARD
1. Featherweight 66kg
Ben Lucas (AUS) v Ibrahim Kendil (EGY)
2. Lightweight 70kg
Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)
3. Welterweight 77kg
Marcos Costa (BRA) v Abdelhakim Wahid (MAR)
4. Lightweight 70kg
Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)
5. Featherweight 66kg
Ahmed Al Darmaki (UAE) v Kagimu Kigga (UGA)
6. Catchweight 85kg
Ibrahim El Sawi (EGY) v Iuri Fraga (BRA)
7. Featherweight 66kg
Yousef Al Husani (UAE) v Mohamed Allam (EGY)
8. Catchweight 73kg
Mostafa Radi (PAL) v Abdipatta Abdizhali (KGZ)
9. Featherweight 66kg
Jaures Dea (CMR) v Andre Pinheiro (BRA)
10. Catchweight 90kg
Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I