Italy's Giorgio Chiellini celebrates with teammate Eder after scoring the opening goal against Spain in their Euro last-16 match on Monday. Srdjan Suki / EPA
Italy's Giorgio Chiellini celebrates with teammate Eder after scoring the opening goal against Spain in their Euro last-16 match on Monday. Srdjan Suki / EPA

Holders Spain are knocked out of Euro 2016 as Graziano Pelle adds exclamation point for Italy



Italy 2 (Chiellini 33', Pelle 90')

Spain 0

Giorgio Chiellini and Graziano Pelle scored the goals as Italy exacted revenge for their Euro 2012 final hammering by dumping Spain out of Euro 2016 with a deserved 2-0 last 16 win in Paris on Monday.

Chiellini forced home the winner from close range after goalkeeper David de Gea could only parry Eder’s fiercely struck free-kick. Pelle volleyed in a deflected cross in injury time to complete Spain’s heartbreak.

After crashing out of the World Cup in the first round, Vicente del Bosque’s team have now failed to get to the Euro quarter finals.

Photo gallery: Spain prove no match for Italy as holders exit Euro 2016

A series of De Gea saves kept Spain in the game, but their quest for an unprecedented third consecutive Euro title peetered out as Gianluigi Buffon saved from Andres Iniesta and Gerard Pique late on to set up a mouthwatering quarter-final clash with Germany on Saturday in Bordeaux.

Spain had lost just one of their previous 11 meetings with Italy, including a 4-0 win in the Euro 2012 final. But the Azzurri were by far the better side in the opening 45 minutes and could have been more than one goal up at the break.

De Gea had been much-criticised for his performance as Spain’s 15-game unbeaten in the Euros came to an end on Tuesday with a 2-1 defeat to Croatia which cost them top spot in Group D.

However, the Manchester United stopper more than made amends when he turned Pelle’s bullet header wide on eight minutes.

Emanuele Giaccherini’s acrobatic effort was then turned onto the post by De Gea, albeit referee Cuneyt Cakir had already blown for a foul as Italy continued to dominate the early exchanges.

It took Spain 28 minutes to even have an effort on goal as Iniesta’s weak shot was straight at Buffon.

Antonio Conte’s side finally made the breakthrough 12 minutes before half-time when Spain captain Sergio Ramos unncessarily dived in on Pelle to concede a free-kick on the edge of the box.

Eder’s powerful effort was parried by De Gea only as far as Giaccherini and he nudged the ball into Chiellini’s path to bundle home.

Only a De Gea wonder save to tip a fiercely dipping drive from Giaccherini over kept Spain in the game before half-time.

Spain coach Vicente del Bosque introduced the more physical presence of 35-year-old striker Aritz Aduriz for Nolito at the break.

And it nearly paid dividends straight away as Alvaro Morata -- kept quiet in the first 45 minutes by former Juventus teammates Chiellini, Andrea Barzagli and Leonardo Bonucci -- headed a golden chance straight at Buffon.

De Gea was called upon once more to block from Eder when the Brazilian-born Inter Milan forward burst clear on goal with the chance to double Italy’s advantage.

Another Italy counter-attack then caused chaos in the Spanish defence as Mattia de Sciglio’s low cross ricocheted around the box before being cleared.

Aduriz swept the ball wide and Ramos headed over from a corner as Italy began to settle on their one-goal lead in the final quarter.

Iniesta’s rasping volley was tipped over by Buffon, before Pique’s long-range effort stung the palms of the 38-year-old.

However, with Aduriz having to be replaced by Pedro Rodriguez due to a head knock, Spain didn’t have a recognised striker in their search for an equaliser in the final 10 minutes.

Italy comfortably held on and Pelle doubled the lead with his poacher’s strike in the first minute of injury time.

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The Bio

Favourite place in UAE: Al Rams pearling village

What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft

Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans

Best time to swim in the sea: When there is enough light to see beneath the surface

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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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The five pillars of Islam
Company%20Profile
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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.

Scorline

Iraq 1-0 UAE

Iraq Hussein 28’

Mubadala World Tennis Championship 2018 schedule

Thursday December 27

Men's quarter-finals

Kevin Anderson v Hyeon Chung 4pm

Dominic Thiem v Karen Khachanov 6pm

Women's exhibition

Serena Williams v Venus Williams 8pm

Friday December 28

5th place play-off 3pm

Men's semi-finals

Rafael Nadal v Anderson/Chung 5pm

Novak Djokovic v Thiem/Khachanov 7pm

Saturday December 29

3rd place play-off 5pm

Men's final 7pm

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How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

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SPECS
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Company%20Profile
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Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

Company profile

Date started: December 24, 2018

Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer

Based: Dubai Media City

Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)

Sector: ConsumerTech and FinTech

Cashflow: Almost $1 million a year

Funding: Series A funding of $2.5m with Series B plans for May 2020

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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
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Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Company%20Profile
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Profile

Name: Carzaty

Founders: Marwan Chaar and Hassan Jaffar

Launched: 2017

Employees: 22

Based: Dubai and Muscat

Sector: Automobile retail

Funding to date: $5.5 million

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20HyveGeo%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Abdulaziz%20bin%20Redha%2C%20Dr%20Samsurin%20Welch%2C%20Eva%20Morales%20and%20Dr%20Harjit%20Singh%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ECambridge%20and%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ESustainability%20%26amp%3B%20Environment%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%24200%2C000%20plus%20undisclosed%20grant%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVenture%20capital%20and%20government%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

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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