Croatia's coach Zlatko Dalic, centre, celebrates qualification for the 2018 World Cup with his players. Angelos Tzortziniz / AFP
Croatia's coach Zlatko Dalic, centre, celebrates qualification for the 2018 World Cup with his players. Angelos Tzortziniz / AFP
Croatia's coach Zlatko Dalic, centre, celebrates qualification for the 2018 World Cup with his players. Angelos Tzortziniz / AFP
Croatia's coach Zlatko Dalic, centre, celebrates qualification for the 2018 World Cup with his players. Angelos Tzortziniz / AFP

Zlatko Dalic proud as Croatia qualify for 2018 World Cup finals


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Croatia coach Zlatko Dalic heaped praise on his players after they saw off Greece with the minimum of fuss in their play-off tie on Sunday to seal a place at the 2018 World Cup.

The impressive Croatians held Greece to a 0-0 draw at the Georgios Karaiskakis stadium in Sunday’s second leg in Athens to complete a 4-1 aggregate victory – making it the fifth time they have qualified for the global showpiece since gaining independence in 1991.

"Congratulations to my players, it was a great game tonight, full of tension, and we’ve achieved what we had set out to do and are going to Russia,” said a delighted Dalic.

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“We played a truly awesome game in Zagreb in the first leg, tonight here it was much harder. But it was never important for me who would be our opponents in this playoff, because I was convinced that we would win whoever we played against."

Having done the hard work four days ago by winning 4-1 in Zagreb, Dalic’s team finished the job comfortably against the much-improved Greeks who were full of attacking intent and tenacious tackling but lacked creativity up forward.

For all the home side's possession and hard work, Croatia came closest to scoring with Ivan Perisic hitting the post in the first half.

Dalic said his team oozed quality and that he had benefited from the work of predecessor Ante Čačić, who was sacked last month after a run of poor results.

"I did not have to do much. I mostly talked to my players," he said. "This qualification is also as much down to the previous coach and comes as a result of his work.

"We are a very good team and failure to qualify for the World Cup was not an option."

Greece boss Michael Skibbe pledged to continue in his role.

Despite the deflation of missing out on Russia, their improvement over the qualification campaign gave the German hope.

"This is a sad day for us and of course it’s difficult, because we have missed out on the World Cup, but I will stay on here,” Skibbe said.

"I'm very happy with the team's progress over the last 14 months. We have played really well overall in 12 matches, unfortunately we had a real below-par performance in Zagreb and we have paid dearly for that."

Skibbe pointed to bad luck with injuries to skipper Vasilis Torosidis, Petros Mantalos and Christos Donis, as well as the controversial suspension of Kostas Manolas for the crucial first leg of the playoff, essentially stripping Greece of four of their top players.

"These absences influenced the chemistry of the team, we should not forget that," he said.

"Tonight we were excellent and Croatia were average. As I said, we have paid for the mistakes we made in Zagreb, mistakes which you simply can’t make at this level."

How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Ordinary Virtues: Moral Order in a Divided World by Michael Ignatieff
Harvard University Press

Points tally

1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3

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UAE currency: the story behind the money in your pockets
Indoor Cricket World Cup Dubai 2017

Venue Insportz, Dubai; Admission Free

Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa

Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia

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