Some years back, when he was Netherlands captain, and played elegant passes out of a Barcelona defence that liked to think progressively, Frank de Boer told this reporter in candid terms what he thought of Italian football.
“Horrible,” he said, as we sat in one of the executive lounges of the Camp Nou stadium.
He conjured up, rather imaginatively, an image of coagulated Italian tactics. “If you put a camera above an Italian stadium you just see this line of activity across midfield,” he said.
“Incredible! It’s just about fighting in the midfield and then teams expecting to score goals from free kicks.”
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He was speaking in 2002, and he forecast that Italian methods were heading for a comeuppance.
“In Italy it’s in the culture,” he added. “They have always played just for results, and that’s truer than ever.
“But it has been proved that it’s the wrong way. Look at crowd figures for some of the Italian games. People are turning away.”
In one sense, De Boer turned out to be an accurate soothsayer. In the last decade and a half, Italy’s position at the summit of the club game, rich and successful, has fallen. And a reputation for cagey, conservative football has been hard to shake off.
De Boer as a player was always a loyalist to the expressive game many Dutchmen of his generation, graduates of the school of Johan Cruyff, were brought up on; he suited Barcelona too, as a cerebral, ball-playing centre-half.
Even then, he was clearly a coach in the making, though, back then, you would not have imagined his second senior job as a manager would be at Inter Milan, the last Italian club to win the Uefa Champions League – in 2010 – but anything but a continental heavyweight these days, as Thursday's 2-0 home defeat to Hapoel Be'er Sheva in the Europa League testified.
That humiliation, albeit with a less than full-strength XI, stacks unwanted pressure on De Boer at a bad time, with Juventus the guests at San Siro on Sunday.
The Dutchman joined Inter after coming to the end of a largely impressive five and a half year stint at Ajax – he won four Dutch titles – late this summer, after Roberto Mancini stood down.
He came into a club that had finished well short of Champions League qualification and not exactly challenged some of his old characterisations of Italian football in its style.
Fighting in midfield? Among his new charges are the likes of Gary “Pitbull” Medel, the combative Chilean midfielder, and Felipe Melo, another bruiser of an anchorman.
They can win the ball, certainly, but De Boer hopes his Inter can develop into something more refined, and above all that some of the newcomers to the squad will be allies in crafting an Inter that is more entertaining than the one that slumped from the top of Serie A midway through last season to fourth, miserly in front of goal and brittle.
For Sunday's big test, at home to Italy's champions in the so-called Derby D'Italia, De Boer expects to give a home debut to Joao Mario, whose arrival from Sporting Lisbon may end up matching Inter's previous record high for an outgoing transfer payment.
The fee for the midfielder could rise to €45 million (Dh185.6m), which is what Christian Vieri, the striker, cost Inter back in 1999, in the era when the top Italian clubs regularly outspent those from England and Spain.
De Boer’s Inter have to be more careful with their outgoings than the club used to be. Joao Mario is among the fresh recruits unable to play in the Europa League because the club have infringed Uefa’s Financial Fair Play regulations.
But De Boer is excited about what the midfielder, outstanding for Portugal in their European championship triumph in July, can give his squad in Serie A.
“I really believe Joao Mario can become a pillar of this Inter for now and long into the future,” said the Dutchman.
Early impressions have been promising. Joao Mario, full of energy, combining graft with guile, helped galvanise the team to their first league win of the season on his debut, at Pescara last weekend.
Gazzetta dello Sport, the Italian newspaper, described his “maturity beyond his years”, and hailed “the complete midfielder of the European game.”
That is something for to Juventus to consider. They have just lost Paul Pogba, of who similar tributes were often heard.
Joao Mario is Pogba's age, outshone Pogba in the final of Euro 2016, and cost well under half of the £89 million (Dh431.6m) Manchester United paid for France's Pogba.
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Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Best Academy: Ajax and Benfica
Best Agent: Jorge Mendes
Best Club : Liverpool
Best Coach: Jurgen Klopp (Liverpool)
Best Goalkeeper: Alisson Becker
Best Men’s Player: Cristiano Ronaldo
Best Partnership of the Year Award by SportBusiness: Manchester City and SAP
Best Referee: Stephanie Frappart
Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)
Best Sporting Director: Andrea Berta (Atletico Madrid)
Best Women's Player: Lucy Bronze
Best Young Arab Player: Achraf Hakimi
Kooora – Best Arab Club: Al Hilal (Saudi Arabia)
Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)
Player Career Award: Miralem Pjanic and Ryan Giggs
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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Liverpool 5-5 Arsenal (Oct 30, EFL)
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Leicester 2-0 Arsenal (Nov 9, PL)
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Normcore explained
Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.
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4.35pm: Tilal Al Khalediah
5.10pm: Continous
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6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
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NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
The years Ramadan fell in May
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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.”
The biog
Hometown: Cairo
Age: 37
Favourite TV series: The Handmaid’s Tale, Black Mirror
Favourite anime series: Death Note, One Piece and Hellsing
Favourite book: Designing Brand Identity, Fifth Edition
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Profile
Company name: Jaib
Started: January 2018
Co-founders: Fouad Jeryes and Sinan Taifour
Based: Jordan
Sector: FinTech
Total transactions: over $800,000 since January, 2018
Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups