Antoine Griezmann of France celebrates with teammate Olivier Giroud and Raphael Varane after scoring the opening goal during the match between Bosnia & Herzegovina and France. EPA
Antoine Griezmann of France celebrates with teammate Olivier Giroud and Raphael Varane after scoring the opening goal during the match between Bosnia & Herzegovina and France. EPA
Antoine Griezmann of France celebrates with teammate Olivier Giroud and Raphael Varane after scoring the opening goal during the match between Bosnia & Herzegovina and France. EPA
Antoine Griezmann of France celebrates with teammate Olivier Giroud and Raphael Varane after scoring the opening goal during the match between Bosnia & Herzegovina and France. EPA

France’s Deschamps on win over Bosnia-Herzegovina: ‘The result is the most important thing’


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Defending champion France scraped in for a 1-0 win at Bosnia-Herzegovina to move four points clear in World Cup qualifying.

Ukraine drew 1-1 at home to Kazakhstan in the other Group D game on Wednesday.

Forward Antoine Griezmann’s smart header on the hour mark settled a tight match, putting the French in command of the group despite not playing well in any of its three games.

Ukraine is second with three points from as many games as it tries to qualify for next year’s tournament in Qatar.

France had a short turnaround so Bosnia-Herzegovina clearly looked the fresher side in Sarajevo, having not played last weekend while Les Bleus were winning 2-0 in Kazakhstan.

Kylian Mbappe had a goal ruled out for offside in the third minute, but overall the Paris Saint-Germain striker made little impression in another disappointing performance that contrasted with his strong club form.

Led by Barcelona midfielder Miralem Pjanic, the hosts improved as France laboured and had veteran goalkeeper Hugo Lloris to thank for going in level at the break.

Midway through the first half, the Tottenham No 1 kept out right back Darko Todorovic’s stinging shot, having made an even better save to block a downward header from a corner.

“The result is the most important thing. Obviously in terms of how we played we can do better,” France coach Didier Deschamps said.

“We didn’t play as we should have done in the first half, and Hugo made a great save.”

With France struggling to create anything, Deschamps brought on centre forward Olivier Giroud in the 58th to join Griezmann in attack and unsettle the home defence.

Two minutes later, Griezmann found space near the front post to head in Adrien Rabiot’s whipped cross from the left for his 35th international goal.

It moved Griezmann one clear of David Trezeguet and into fourth place on France’s scoring list behind Michel Platini (41), Giroud (44) and Thierry Henry (51), and underlined his return to form in a difficult season with Barcelona.

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