VALENCIA, Spain // Cristiano Ronaldo headed home the winner in extra-time as Real Madrid ended an 18-year Copa del Rey trophy drought with a 1-0 victory over biggest rival Barcelona on Wednesday.
Ronaldo guided Angel Di Maria's 103rd-minute cross back across goal and past the outstretched hand of goalkeeper Jose Manuel Pinto into the top corner as Real won silverware for the first time since a 2008 Spanish league title.
"It was a very tough game, Barcelona played very well, but, as you know, whoever scores, wins," said Ronaldo, who won his first title since joining Real last season. "We are very happy, Madrid had not won this cup for many years."
Real dominated the first half and then relied on goalkeeper Iker Casillas' second-half stops as Barca took control after the restart in an electric atmosphere at the Mestalla Stadium.
Real's Portuguese coach Jose Mourinho bowed before King Juan Carlos and Queen Sofia as he received his mini-trophy while Casillas hugged the pair before using the king as support to climb up on a support and hoist the club's 18th domestic cup win high.
"A great game of football," Mourinho said after bringing silverware to the club in his first season to end a six-game winless run against Barca, which lost for only the 10th time in its 35th final appearance. "The title isn't mine, it's everyone's. After so long without the Copa del Rey, it's something nice."
Barca failed with a trophy on the line for the first time under coach Pep Guardiola.
"It's always better to win than lose but we have to recover because that's life. Life has its knocks too," Guardiola said. "Will we pick ourselves up from this? Of course."
Barca, which closed in on the league title with a 1-1 draw against Real on Saturday, gets its first chance next Wednesday when the pair meet for the first of a two-legged Champions League semifinal.
The winning goal came from an incisive attack by Real. Fullback Marcelo played Di Maria into the left side of the area and the Argentina forward beat Daniel Alves to the perfectly-weighted ball to find Ronaldo at the far post for the winner at the site of both clubs' last cup win - Real over Zaragoza and Barca over Athletic Bilbao in 2009.
Real's players were heading back to the Spanish capital to celebrate at the Plaza de Cibeles, its traditional spot, although a late night was not expected.
"We're not going to celebrate so much - we're all dead tired," defender Alvaro Arbeloa said.
The charged atmosphere for the ninth cup final at the Mestalla might have played a hand in a frantic and physical first half dominated by Real, which disrupted Barca's cool with constant pressure. The Catalans didn't manage a single shot on goal until the second half as it abandoned its slick passing game for long balls at times.
With Javier Mascherano filling in for Carles Puyol at centerback, Barca's defence looked unsure as Real repeatedly won back possession with constant upfield pressure.
And Real created chances on the break as expected with Mesut Oezil picking up where he left off in Saturday's 1-1 draw by creating Real's best opportunities including in the 36th when he set up Ronaldo for a shot Pinto saved.
"They played similar (to Saturday's game)- they changed players but the concept was pretty much the same as the Bernabeu," Guardiola said. "With such great teams it's the details that make the difference."
The bruising matchup led to a number of run-ins between players who normally represent Spain together, with David Villa and Alvaro Arbeloa exchanging shoves, while even a frustrated Lionel Messi had trouble hiding his emotions as the acrimonious rivalry bubbled up with silverware on the line. Barca had won three of the five previous cup finals between the two before this one, including the last one in 1990.
Barca - which watched Pepe's header come off the post just before the break - was more composed after the restart as it worked the ball and rediscovered the possession game that helps them thrive, with Villa threatening.
Mourinho, meanwhile, screamed at Ronaldo for skirting his defensive duties while Messi was booked for blocking a free kick in the 64th as the teams' two stars - who have now combined for 90 goals this season - found it hard to show off their offensive talents.
"We wanted him to participate in areas where we want him to be involved," Guardiola said of Messi after he was again stymied by a Mourinho gameplan. "He's so important for us."
The Barca half of the stadium exploded in the 69th but Pedro's goal was chalked off for offside before Casillas shined.
The Spain 'keeper dived to keep out Messi's low screamer and then swatted away Pedro's top corner bound curler away in the 75th. Casillas again stood tall in the 81st after tipping Andres Iniesta's shot wide of the post.
"We prove to everyone we can beat any team we want," said Casillas after winning the only club trophy missing from his cabinet of silverware.
With Barca dominating, Madrid nearly scored an injury-time winner but Pinto - usually a backup except for cup games - tipped Di Maria's rising shot over the bar before Ronaldo beat Pinto in the 98th but flashed wide of the far post.
Ronaldo was quick in the 118th as he jumped to Emmanuel Adebayor's tipped shot but his shot was deflected high as Real withstood Di Maria's sending off in the 120th - as Real finished with 10 men against Barca for the second time in five days - to win in front of over 52,000 fans.
Casillas added Mestalla's smaller dimensions also helped Real contain Barca.
"We don't know any other way (of playing)," Alves said. "We leave with a bittersweet taste but with our heads held very high."
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
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How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
ICC Women's T20 World Cup Asia Qualifier 2025, Thailand
UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final
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.”
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Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
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The number of Chinese people living in Dubai: An estimated 200,000
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