‘It was a disaster’: Myanmar’s U20 World Cup high comes crashing down



Myanmar’s Under 20 World Cup “party” came to a crashing halt on Tuesday when they were hammered 6-0 by Ukraine, with all six goals coming in the second half, prompting the Asian side’s German coach to apologise to their fans.

Myanmar, who qualified for the tournament for the first time by reaching the Asian U19 championships semi-finals on home soil last year, had given the United States a massive fright in their opening game on Saturday before eventually losing 2-1.

They managed to hold Ukraine scoreless in the first half in Whangarei, New Zealand before the Europeans scored six in the second, with Shakhtar Donetsk’s Viktor Kovalenko grabbing a double.

The scoreline could have been even worse had Pavlo Polehenko not missed a penalty after defender Thiha Htet Aung was sent off for a hand ball on the line.

“We must be realists, the party is over,” Myanmar coach Gerd Zeise told a media conference. “I must apologise to the Myanmar fans, I am responsible for this disaster, but I can’t turn a cyclist into a racing driver.”

Like many developing nations in Asia, world governing body Fifa has pumped money into the country and given more than US$1.1 million (Dh4.04m) through its Goal programme over the past five years to fund facilities and training programmes for age-group players.

Myanmar’s qualification for the tournament in New Zealand was seen as proof the money was working.

Zeise, however, suggested the tournament, despite causing an outpouring of celebrations back home, had come too early for his side.

“Obviously we only had the power for one match. The European teams play in another league and we cannot follow,” he said.

“We are too blind and we do not have the experience, that’s absolutely clear.

“It was a disaster and this tournament has come too early for us. We cannot follow these teams, no chance.

“My team was too poor.”

Myanmar’s final game in the tournament is on Friday in Wellington against hosts New Zealand, who play the United States in Auckland later on Tuesday.

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MATCH INFO

Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia scheduled for October 10

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The Buckingham Murders

Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

Rating: 4 / 5

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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.

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
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THE BIO

Bio Box

Role Model: Sheikh Zayed, God bless his soul

Favorite book: Zayed Biography of the leader

Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet

Favorite food: seafood

Favorite place to travel: Lebanon

Favorite movie: Braveheart

Race results:

1. Thani Al Qemzi (UAE) Team Abu Dhabi: 46.44 min

2. Peter Morin (FRA) CTIC F1 Shenzhen China Team: 0.91sec

3. Sami Selio (FIN) Mad-Croc Baba Racing Team: 31.43sec

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This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.


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