Kagan McLeod for The National
Kagan McLeod for The National

Newsmaker: LeBron James



“Cleveland – this is for you.” Last Sunday night, with his face contorted and wrought with emotion, tears streaking down his cheeks into his beard, ­basketball player ­LeBron James addressed the world in an expletive-­filled speech. His team had just achieved what is being widely hailed as the greatest comeback in National Basketball ­Association (NBA) history.

For almost 50 years, the ­Cleveland Cavaliers have failed to win a championship, but now, at long last, the Ohio city is celebrating a return to the top after beating the defending champions, Golden State Warriors, in the NBA Finals. The tears of joy have given way to celebratory air punching and partying that will probably go on for weeks, while James’s status as a local hero has been permanently inked into the fabric of ­Cleveland society.

But it could have been all been so different – the Akron, Ohio native abruptly left the Cavaliers in 2010 to “take his talents” to the Miami Heat, with whom he won two NBA titles. The backlash from ­Cleveland fans was severe – they burnt his jersey during rallies – but all was quickly forgotten four years later when he returned to his hometown team with the sole mission of bringing a title to Cleveland.

James, 31, put in one of the performances of his life this past week in the deciding fixture of the seven-game series, leading both teams in points, rebounds, assists, steals and blocks during the series. The finishing touches came during a 93-89 victory in Game 7.

In doing so, the ­Cavaliers became the first team ever to overturn a 3-1 series deficit in the NBA Finals. Rightly so, he was named the finals MVP (Most ­Valuable Player), an award he previously claimed in 2012 and 2013 with the Heat.

James’s personal story is the embodiment of the ­American dream. His mother ­Gloria Marie James was 16 when he was born. His biological father – an ex-con named ­Anthony ­McClelland – wasn’t interested in fatherhood, so Gloria brought up her son single-­handedly. Life was always a struggle.

Akron is a small city, an hour south of Cleveland, known for its rubber industry and being home to four of the world’s biggest tyre manufacturers. But it has incredible problems with crime and poverty, both of which James’s mother did her best to shield him from. But she made questionable choices when it came to the men in her life, getting involved with known criminals. When her son was 2, she began dating drug dealer and fraudster Eddie ­Jackson, and the youngster formed a father/­son bond with him.

James was still an infant when his mother gave him a miniature basketball hoop and ball, which he played with for hours each day, demonstrating superb instincts for the game even then. Fortuitously, despite his mother’s fairly compact dimensions, he also developed extremely long limbs (he’s 6 feet 8 inches tall), ideal for basketball, and grew into an exceptional sportsman, both in basketball and American football.

Yet while his game was always on point, the same could not be said for his education, and by the time he was in fourth grade, he was missing school on a regular basis, on the verge of dropping out altogether.

His football coach, Frank ­Walker, got wind of this and confronted James’s mother. She confessed that his home life was far from stable, and the two agreed that it would be best for him to live with the Walker family, to learn structure and discipline. James lived there for 18 months. He took part in daily chores like the rest of the Walker family, and the following year, received an attendance award from his school.

After those 18 months, his mother took him back, but financial difficulties soon saw James returned to the security of the Walker family. Between them, they hammered out a deal that meant his mother could pay her rent and James could always have a home in ­Akron.

During that time, Walker managed to unleash James’s potential on the basketball court, and he formed a close bond with the family’s son, Frankie Jr, who was also a keen player.

Basketball soon became an ­intrinsic part of life for James, and as he began to shine on court during his school days, his reputation quickly spread around Akron and beyond. He based his game on that of his hero, Michael Jordan, and while he continued his football career for a while, basketball quickly proved to be his true calling. Even before he left school, his name was appearing in national newspaper headlines, and both Nike and Adidas were tripping over each other to sign him on deals rumoured to be worth US$20 million (Dh73.5m).

When he was 18, he landed a deal with Nike for $90m. The company’s stock jumped more than 30 cents on news of the signing, such was the power of his burgeoning reputation. And late last year, he signed a $1 billion lifetime deal – the first in the company’s history.

In 2003, James was picked by the Cavaliers from the NBA draft, and during his first game as a professional, he set a new NBA record for the most points scored in a debut. He was later named NBA Rookie of the Year. His star, from then on, continued its ascent.

The way he plays is unique in the sport, inasmuch as he has the ability to excel in multiple positions. He’s also the consummate team member, always willing to pass the ball to other players and anticipate the moves of a rival team with almost ­telepathic vision.

Writing in The Guardian this week, sports journalist ­Bryan ­Armen Graham described James as the NBA's greatest-­ever player and reminisced about seeing him in a game while still at school in 2002: "He operated with the maturity and sophistication of a seasoned professional. Was he really only 17? The combination of skills he commanded was more than just rare: it defied ­categorisation."

“Every action,” he continued, “was exacted with economy of movement and effortless calm, the way a Formula One driver can navigate a car with the casual indifference of a channel surfer idly flicking the remote.” Little wonder, then, that his reputation has come to rival that of his idol, Michael Jordan.

He’s a superstar outside his home country, too. Mention James to any of the more than 700,000 ­Filipinos who live in the UAE, and you will likely get an excited response. He’s regarded as a rock-star-level personality, thanks to the immense popularity of basketball in the ­Philippines, where there’s a court in almost every town and village. His signature shoes, by Nike, make headlines whenever a new style is launched, and continuously sell out. In the ­Philippines, demand for James’s footwear is such that there’s a thriving market for second-hand examples.

If James puts in an appearance in the country, such is the excitement surrounding his arrival that news websites publish photographs of his private jet coming in to land. He has visited the islands twice in his role as a Nike ambassador, to encourage youngsters to take up the game and perhaps even play their way out of poverty.

In these days of social-media influencers and brand ambassadors, it might be easy to dismiss James as just another ­contractually bound celeb ­going through the motions for an obscenely large pay cheque. But he seems genuine, still in tune with his humble roots and eager to help those less fortunate to make the most of every ­opportunity.

Unlike many celebrities, James has remained extremely well-­behaved in his public and private lives, managing to withstand close scrutiny without controversy. He has also managed to accrue enormous personal wealth through salary contracts and sponsorship deals. In 2014, Forbes reckoned he had amassed $450m during his NBA career, but as James is keen to point out, he has donated much of that money to worthy causes in the name of philanthropy.

He’s a supporter of the Boys & Girls Club of America and the Children’s Defense Fund, and he set up his own charity, the ­LeBron James Family ­Foundation, based in his home city. Through this, he recently announced a partnership with the University of Akron that will, from 2021, provide scholarships for up to 2,300 children.

He seems determined to use his wealth and status for the greater good, and his country loves him for it. For now, though, the sporting world’s focus is fixed firmly on the way he steered his team to victory last weekend.

"To bring about the end of Cleveland's mythical ... championship drought was the fulfilment of a childhood dream," remarked Graham in his ­Guardian piece. "Finally the boy who would be king has a victory worthy of his limitless ­promise."

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COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

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Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

Paris Can Wait
Dir: Eleanor Coppola
Starring: Alec Baldwin, Diane Lane, Arnaud Viard
Two stars

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Scoreline:

Manchester City 1

Jesus 4'

Brighton 0

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

Know your cyber adversaries

Cryptojacking: Compromises a device or network to mine cryptocurrencies without an organisation's knowledge.

Distributed denial-of-service: Floods systems, servers or networks with information, effectively blocking them.

Man-in-the-middle attack: Intercepts two-way communication to obtain information, spy on participants or alter the outcome.

Malware: Installs itself in a network when a user clicks on a compromised link or email attachment.

Phishing: Aims to secure personal information, such as passwords and credit card numbers.

Ransomware: Encrypts user data, denying access and demands a payment to decrypt it.

Spyware: Collects information without the user's knowledge, which is then passed on to bad actors.

Trojans: Create a backdoor into systems, which becomes a point of entry for an attack.

Viruses: Infect applications in a system and replicate themselves as they go, just like their biological counterparts.

Worms: Send copies of themselves to other users or contacts. They don't attack the system, but they overload it.

Zero-day exploit: Exploits a vulnerability in software before a fix is found.

Company%20Profile
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ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars

- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes

- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts

Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

Company%20profile
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The five pillars of Islam
What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

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BUNDESLIGA FIXTURES

Friday (all kick-offs UAE time)

Hertha Berlin v Union Berlin (10.30pm)

Saturday

Freiburg v Werder Bremen (5.30pm)

Paderborn v Hoffenheim (5.30pm)

Wolfsburg v Borussia Dortmund (5.30pm)

Borussia Monchengladbach v Bayer Leverkusen (5.30pm)

Bayern Munich v Eintracht Frankfurt (5.30pm)

Sunday

Schalke v Augsburg (3.30pm)

Mainz v RB Leipzig (5.30pm)

Cologne v Fortuna Dusseldorf (8pm)

Company%20Profile
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Company%20Profile
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Brief scores:

Kashima Antlers 0

River Plate 4

Zuculini 24', Martinez 73', 90 2', Borre 89' (pen)

It's Monty Python's Crashing Rocket Circus

To the theme tune of the famous zany British comedy TV show, SpaceX has shown exactly what can go wrong when you try to land a rocket.

The two minute video posted on YouTube is a compilation of crashes and explosion as the company, created by billionaire Elon Musk, refined the technique of reusable space flight.

SpaceX is able to land its rockets on land  once they have completed the first stage of their mission, and is able to resuse them multiple times - a first for space flight.

But as the video, How Not to Land an Orbital Rocket Booster, demonstrates, it was a case if you fail, try and try again.

Al Jazira's foreign quartet for 2017/18

Romarinho, Brazil

Lassana Diarra, France

Sardor Rashidov, Uzbekistan

Mbark Boussoufa, Morocco

Company%20profile%20
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Intercontinental Cup

Namibia v UAE Saturday Sep 16-Tuesday Sep 19

Table 1 Ireland, 89 points; 2 Afghanistan, 81; 3 Netherlands, 52; 4 Papua New Guinea, 40; 5 Hong Kong, 39; 6 Scotland, 37; 7 UAE, 27; 8 Namibia, 27

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The%20Little%20Mermaid%20
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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.

COMPANY%20PROFILE
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The bio

Favourite vegetable: Broccoli

Favourite food: Seafood

Favourite thing to cook: Duck l'orange

Favourite book: Give and Take by Adam Grant, one of his professors at University of Pennsylvania

Favourite place to travel: Home in Kuwait.

Favourite place in the UAE: Al Qudra lakes