Hamdan Al Kamali, centre, flanked by Jean-Michel Aulas, left, the Lyon president, and Remi Garde, the first-team coach, after finalising his loan move to France earlier this year. Courtesy of Al Ittihad
Hamdan Al Kamali, centre, flanked by Jean-Michel Aulas, left, the Lyon president, and Remi Garde, the first-team coach, after finalising his loan move to France earlier this year. Courtesy of Al Ittihad
Hamdan Al Kamali, centre, flanked by Jean-Michel Aulas, left, the Lyon president, and Remi Garde, the first-team coach, after finalising his loan move to France earlier this year. Courtesy of Al Ittihad
Hamdan Al Kamali, centre, flanked by Jean-Michel Aulas, left, the Lyon president, and Remi Garde, the first-team coach, after finalising his loan move to France earlier this year. Courtesy of Al Ittih

Lyon president on the lookout for investment on and off the pitch


  • English
  • Arabic

Jean-Michel Aulas, the Lyon president, had arranged this week's trip to Abu Dhabi before Christmas, but its timing is significant.

Two weeks ago, the French side suffered a surprise Champions League defeat to APOEL Nicosia; they are fifth in the league, four points behind Lille in third, and at risk of not qualifying for the Champions League for the first time in 13 years. Aulas has a busy agenda when he arrives tomorrow.

His first task will be to meet directors at Al Wahda, to discuss the progress of the on-loan defender Hamdan Al Kamali, a winter signing and the first Emirati to move to Europe.

Al Kamali has made an encouraging start to his Lyon career, and recently made his reserve-team debut in a 4-2 win over Bourg Peronnas to keep OL2 (the club's full name is Olympique Lyonnais) seven points clear at the top of the CFA division in French football's fourth tier.

"I am going to Abu Dhabi as part of the agreement we made with Hamdan Al Kamali but I also hope to meet some economic and political leaders when I am there," Aulas said. "If there is the opportunity to enter talks with other businesses there, we will. But this is not a search for majority partners like PSG [had]."

Paris Saint-Germain's sale to Qatari Sports Investments has led to speculation that more Ligue 1 clubs could be bought. Marseille, Lille and Bordeaux are all thought to be interesting propositions.

Lyon do not appear to be on that list - at least at present.

"Now that PSG are aiming to become a big European club, with almost unlimited money, Lyon have to find new sources of income in order to stay competitive," the France-based writer Simon Kuper, the author of Soccernomics, said.

"Like PSG, Aulas sees that the best way is to go to the emerging markets of football: the Gulf countries and East Asia.

"These countries have unlimited money to pump into football, but no serious brands of their own, so they will invest in European clubs."

Aulas was quick to refute recent reports that Lyon was a target for another Qatari takeover but his denial came with a caveat.

"There has been no contact with the Qataris but there are two other emirates who can afford to invest in a European club, in Abu Dhabi and Dubai. I am someone who's interested in this part of the world."

And the financial considerations could be a reasons for the French club to warm to advances from abroad.

"I don't think Aulas wants to sell Lyon, because he likes having control of the club," L'Equipe's chief football writer Vincent Duluc said. "But he needs to cover a €25 million [Dh121m] deficit in his accounts by this summer and that's why he wanted to sell some players in January."

There are opportunities for investment in the club.

Aulas is overseeing the €250m construction of a 60,000-capacity stadium that will be ready in 2014, two years before France hosts the 2016 European Championship. The naming rights to the new stadium have yet to be sold, while Lyon's shirt sponsors, Betclic, are pulling out of their €7m annual contract this summer, one year earlier than originally planned.

"There are investors [in the region] who are not interested in OL as such, but are interested in the new stadium project," Aulas said.

The deal with Al Wahda for Al Kamali is not yet a financial one but we may well look back on the transfer as not just the first of its kind, but one that opened the floodgates to a new era for Lyon: one of cooperation with a region which could help the club against the backdrop of PSG's largesse.

"This is a sporting partnership at the moment, but it could yet become an economic one," said Olivier Blanc, a Lyon spokesman. "This is not the end of the story. It's the beginning."

At Al Kamali's unveiling back in January, Aulas spoke of "anticipating the future" and wanting to work with countries "that are growing faster than others in football".

Clearly, he sees the UAE in that category but there are others: Lyon already have a partnership with the Lebanese club Athletico, which sees their coaches put on coaching workshops in Beirut three times a year, and in return, Athletico players and coaches spend time at Lyon's academy.

There is a similar deal in place with the Chinese football federation, where on top of the coaching workshops, Lyon takes in two outstanding 16-year-old prospects, chosen out of 500 young players, for a year in their academy, with two Lyon coaches helping in the selection process.

Lyon's female team, who won the women's Champions League final last year in London, have also got in on the act, signing the 19-year-old Japanese player Ami Otaki. She has been called up for Japan's Olympic team and is probably the closest equivalent the club have to Al Kamali.

If anyone can grasp the changing nature of football, it is Aulas. Lyon were a second division club when he took over in 1987, but an investment in the youth academy and a habit for employing future France coaches (including Raymond Domenech and Jacques Santini, his predecessor) helped the club's long-term development.

"Aulas knew what he wanted and how to get it," said Remi Garde, the present coach, who graduated through the Lyon academy and has taken every job going at the club. "He was one of the first to understand that the sport was changing. He was a visionary."

Aulas once said at a football conference in Zurich that "I have never been afraid to open my mouth and say things that upset people".

"But I was coming up with ideas that no one else had before and sometimes you have to shock people to get your message across. We can do things now that we could not do 25 years ago, but my policies always looked to the future, and they still do."

In the past decade, Aulas profited from a different strategy. Lyon had never won a league title until 2002: even then, they had to beat title challengers Lens 3-1 on the final day of the season to secure the championship.

That season their two key players were both Brazilian: the captain and top scorer Sonny Anderson, and the central defender Edmilson, who went on to win the 2002 World Cup for his country.

By then, Aulas had already decided to target Brazil as the source for non-Francophone players.

He employed the former Lyon captain Marcelo, then an agent, to scout the players, and Anderson as an ambassador promoting the club in Brazil.

"Every club has a different commercial and marketing and recruitment strategy," Aulas said. "We do things differently to Real Madrid, who like to buy Ballon d'Or players when they are already established and at the top of their game, whatever their nationality.

"We prefer to focus our foreign contingent on just having Brazilians, that way we have great links with the country and fans there who support us as well."

Since that first title, Claudio Cacapa, Fred, Fabio Santos and Juninho Pernambucano have played for the club, while Cris, the captain, Ederson and Michel Bastos are still there.

It is worth remembering, though, that Lyon did not pick these Brazilians just for their quality, but also for their ability to adapt.

As Blanc said of Al Kamali: "Our scouts felt his level was interesting, but his mentality is also very good. Very strong."

After that first title, Lyon won the next seven, and before too long, others starting copying their methods. Brazil (after Barcelona) has now become the first port of call for European clubs looking to find the stars of tomorrow. The true pioneer changes tack to stay one step ahead of his rivals but Aulas has been struggling for answers since 2008. Lyon have been without a trophy for the last four years.

Last summer he changed strategy again, ushering in an age of austerity, and promoting Garde from academy director to first-team coach.

With barely no money to spend - less than €5m on Bakary Kone and Gueida Fofana - and a reliance on the youth graduates Garde previously coached, Lyon have reached the League Cup final and are still fighting to finish in third place (since the APOEL defeat, Lyon have beaten Lille and Saint-Etienne, two teams around them, to keep those chances alive).

This is where Al Kamali can take confidence: Garde has drawn on players who only two years ago were in the Pro 2 squad, and are now starting big league and European games.

The likes of Clement Grenier, Alexandre Lacazette, Samuel Umtiti, Maxime Gonalons and Timothee Kolodziejczak have all held their own this season, and should be the inspiration for the 22 year old.

The youngsters' relative success this season has been another stick with which to criticise the previous coach Claude Puel, who was reluctant to give the same players a chance.

If Al Kamali can cope with the level, there is no doubt that Garde would be prepared to promote him through the ranks.

The specs: 2018 Audi RS5

Price, base: Dh359,200

Engine: 2.9L twin-turbo V6

Transmission: Eight-speed automatic

Power: 450hp at 5,700rpm

Torque: 600Nm at 1,900rpm

Fuel economy, combined: 8.7L / 100km

Squad

Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas) 

Breaking News: The Remaking of Journalism and Why It Matters Now
Alan Rushbridger, Canongate

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Other IPL batting records

Most sixes: 292 – Chris Gayle

Most fours: 491 – Gautam Gambhir

Highest individual score: 175 not out – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)

Highest strike-rate: 177.29 – Andre Russell

Highest strike-rate in an innings: 422.22 – Chris Morris (for Delhi Daredevils against Rising Pune Supergiant in 2017)

Highest average: 52.16 – Vijay Shankar

Most centuries: 6 – Chris Gayle

Most fifties: 36 – Gautam Gambhir

Fastest hundred (balls faced): 30 – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)

Fastest fifty (balls faced): 14 – Lokesh Rahul (for Kings XI Punjab against Delhi Daredevils in 2018)

 

The specs: 2019 Lincoln MKC

Price, base / as tested: Dh169,995 / Dh192,045

Engine: Turbocharged, 2.0-litre, in-line four-cylinder

Transmission: Six-speed automatic

Power: 253hp @ 5,500rpm

Torque: 389Nm @ 2,500rpm

Fuel economy, combined: 10.7L / 100km

Seven tips from Emirates NBD

1. Never respond to e-mails, calls or messages asking for account, card or internet banking details

2. Never store a card PIN (personal identification number) in your mobile or in your wallet

3. Ensure online shopping websites are secure and verified before providing card details

4. Change passwords periodically as a precautionary measure

5. Never share authentication data such as passwords, card PINs and OTPs  (one-time passwords) with third parties

6. Track bank notifications regarding transaction discrepancies

7. Report lost or stolen debit and credit cards immediately

The biog

Favourite car: Ferrari

Likes the colour: Black

Best movie: Avatar

Academic qualifications: Bachelor’s degree in media production from the Higher Colleges of Technology and diploma in production from the New York Film Academy

THE RESULTS

5pm: Maiden (PA) Dh80,000 1,400m

Winner: Alnawar, Connor Beasley (jockey), Helal Al Alawi (trainer)

5.30pm: Maiden (PA) Dh80,000 1,400m

Winner: Raniah, Noel Garbutt, Ernst Oertel

6pm: Handicap (PA) Dh90,000 2,200m

Winner: Saarookh, Richard Mullen, Ana Mendez

6.30pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Rated Conditions Dh125,000 1,600m

Winner: RB Torch, Tadhg O’Shea, Eric Lemartinel

7pm: Al Wathba Stallions Cup Handicap Dh70,000 1,600m

Winner: MH Wari, Antonio Fresu, Elise Jeane

7.30pm: Handicap Dh90,000 1,600m

Winner: Mailshot, Royston Ffrench, Salem bin Ghadayer

 

Our family matters legal consultant

Name: Hassan Mohsen Elhais

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

Genesis G80 2020 5.0-litre Royal Specs

Engine: 5-litre V8

Gearbox: eight-speed automatic

Power: 420hp

Torque: 505Nm

Fuel economy, combined: 12.4L/100km

Price: Dh260,500

Gender equality in the workplace still 200 years away

It will take centuries to achieve gender parity in workplaces around the globe, according to a December report from the World Economic Forum.

The WEF study said there had been some improvements in wage equality in 2018 compared to 2017, when the global gender gap widened for the first time in a decade.

But it warned that these were offset by declining representation of women in politics, coupled with greater inequality in their access to health and education.

At current rates, the global gender gap across a range of areas will not close for another 108 years, while it is expected to take 202 years to close the workplace gap, WEF found.

The Geneva-based organisation's annual report tracked disparities between the sexes in 149 countries across four areas: education, health, economic opportunity and political empowerment.

After years of advances in education, health and political representation, women registered setbacks in all three areas this year, WEF said.

Only in the area of economic opportunity did the gender gap narrow somewhat, although there is not much to celebrate, with the global wage gap narrowing to nearly 51 per cent.

And the number of women in leadership roles has risen to 34 per cent globally, WEF said.

At the same time, the report showed there are now proportionately fewer women than men participating in the workforce, suggesting that automation is having a disproportionate impact on jobs traditionally performed by women.

And women are significantly under-represented in growing areas of employment that require science, technology, engineering and mathematics skills, WEF said.

* Agence France Presse

How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Stan%20Lee
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20David%20Gelb%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Zakat definitions

Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.

Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.

Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi

Yadoo’s House Restaurant & Cafe

For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.

Golden Dallah

For the cappuccino, luqaimat and aseeda.

Al Mrzab Restaurant

For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.

Al Derwaza

For the fish hubul, regag bread, biryani and special seafood soup. 

COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
The specs

Price, base: Dh228,000 / Dh232,000 (est)
Engine: 5.7-litre Hemi V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 552Nm
Fuel economy, combined: 12.5L / 100km

Tips to avoid getting scammed

1) Beware of cheques presented late on Thursday

2) Visit an RTA centre to change registration only after receiving payment

3) Be aware of people asking to test drive the car alone

4) Try not to close the sale at night

5) Don't be rushed into a sale 

6) Call 901 if you see any suspicious behaviour