British newspaper, The Sunday Times, alleged that former Fifa executive committee member Mohamed Bin Hammam used US$1.7m to secure key Asian votes for Qatar's World Cup 2022 bid. This comes after last week's allegations by the same newspaper that Mr Hammam made payments totalling $5m to senior football officials to seal support for Qata. Wong Maye-E/AP Photo
British newspaper, The Sunday Times, alleged that former Fifa executive committee member Mohamed Bin Hammam used US$1.7m to secure key Asian votes for Qatar's World Cup 2022 bid. This comes after last week's allegations by the same newspaper that Mr Hammam made payments totalling $5m to senior football officials to seal support for Qata. Wong Maye-E/AP Photo
British newspaper, The Sunday Times, alleged that former Fifa executive committee member Mohamed Bin Hammam used US$1.7m to secure key Asian votes for Qatar's World Cup 2022 bid. This comes after last week's allegations by the same newspaper that Mr Hammam made payments totalling $5m to senior football officials to seal support for Qata. Wong Maye-E/AP Photo
British newspaper, The Sunday Times, alleged that former Fifa executive committee member Mohamed Bin Hammam used US$1.7m to secure key Asian votes for Qatar's World Cup 2022 bid. This comes after last

Fresh corruption allegations in Qatar World Cup 2022 bid


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LONDON // Fifa's decision to award the 2022 World Cup to Qatar has come under fresh scrutiny.

The Sunday Times, published new allegations that Mohamed Bin Hammam used his wealth and top level contacts to buy support for the oil-rich country’s successful bid.

The British newspaper, which last week claimed that the former Fifa executive committee member made payments totalling US$5 million to senior football officials to seal support for Qatar, also accused Mr Bin Hammam of using $1.7m to secure key Asian votes.

It alleged that Mr Bin Hammam arranged government level talks for Thailand’s Fifa executive Worawi Makudi to discuss a gas sale “potentially worth tens of millions of dollars to Thailand” and that he was invited to visit President Vladimir Putin before Russia and Qatar’s victories in the votes for the 2018 and 2022 World Cups.

Sony, one of Fifa’s key sponsors, has called for the allegations to be “investigated appropriately”.

Under a front-page headline of "Gas deal turns heat on World Cup", the newspaper alleged that Mr Bin Hammam arranged meetings and favours for voters in the months leading to the ballots.

The 2010 vote, which awarded football’s biggest tournament to the tiny desert state, is under investigation by Fifa’s independent ethics prosecutor.

Qatar organisers deny any wrongdoing.

In a statement released on Saturday, following its Executive Committee’s second meeting of the year in Sao Paulo, Fifa said “the executive reaffirmed its position of letting the ethics committee complete its work before making any comment”.

According to the newspaper, which says it had access to millions of secret documents during its investigation, Mr Bin Hammam brokered two secret meetings with Qatari royals to discuss a major gas deal with a senior aide to Makudi.

“The exact nature of the deal on the table is unclear, but it came as Thailand sought to save tens of millions of pounds by renegotiating an arrangement with Qatar to purchase 1 million tons of liquefied natural gas each year at a contractual price it considered too high,” the newspaper said.

The Sunday Times said that Mr Makudi denied that he had received a personal “concession” from his involvement but did not elaborate.

Mr Bin Hammam is no longer a committee member of world football’s governing body after being caught up in a corruption scandal surrounding his failed campaign for its presidency in 2011.

The Sunday Times claimed that the $1.7m Mr Bin Hammam paid to Asian officials from funds controlled by his private company Kemco were used as he was campaigning for both the Qatar World Cup bid and for his own re-election to the post of president of the Asian Football Confederation.

The newspaper said he was invited to a meeting by Russia to discuss “bilateral relations” in sport between Qatar and Russia on October 30, 2010 – a month before the vote on the bids.

“Two days later, Qatar’s ruling emir also flew to Moscow for talks about joint gas production deals between the two countries,” the Sunday Times said.

* Associated Press

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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Dubai College A 50-12 Dubai College B

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While you're here
Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

BMW M5 specs

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Profile box

Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Juliot Vinolia’s checklist for adopting alternate-day fasting

-      Don’t do it more than once in three days

-      Don’t go under 700 calories on fasting days

-      Ensure there is sufficient water intake, as the body can go in dehydration mode

-      Ensure there is enough roughage (fibre) in the food on fasting days as well

-      Do not binge on processed or fatty foods on non-fasting days

-      Complement fasting with plant-based foods, fruits, vegetables, seafood. Cut out processed meats and processed carbohydrates

-      Manage your sleep

-      People with existing gastric or mental health issues should avoid fasting

-      Do not fast for prolonged periods without supervision by a qualified expert

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

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