Fifa President Sepp Blatter makes a symbolic handshake with Fifa general secretary Jerome Valcke during the 65th Fifa Congress in Zurich, Switzerland on Friday. According to Monday media reports, federal authorities believe Valcke made some US$10 million in bank transactions that are major parts of the ongoing Fifa bribery scandal. Michael Buholzer / AFP / May 29, 2015
Fifa President Sepp Blatter makes a symbolic handshake with Fifa general secretary Jerome Valcke during the 65th Fifa Congress in Zurich, Switzerland on Friday. According to Monday media reports, fedeShow more

More heat on Fifa as money trail draws closer to Sepp Blatter



In the House of Commons, they’re calling for Sepp Blatter’s head. And even inside the Fifa president’s own executive committee, there is the threat of resignation.

A new week has brought new turmoil for football’s embattled 79-year-old president and his scandal-tainted governing body, which is in the midst of the worst corruption case in its 111-year history.

“For the good of the game, it is time for Sepp Blatter to go,” British sports and culture secretary John Whittingdale told the House of Commons on Monday.

While the newly re-elected Blatter seems to be going nowhere despite the arrests and indictments of several football officials last week in Zurich, others are calling it quits or threatening to do so.

FIFA medical chief Michel D’Hooghe, the longest-serving member on the executive committee, said he would leave unless there were rapid reforms.

“I cannot reconcile myself with an institution where I work, where I have carried the medical responsibility for 27 years and about which I now learn that there is a lot of corruption,” D’Hooghe told the VRT television network in Belgium.

“My conclusion is very clear: I will no longer continue to participate (in Fifa) under such conditions. So, it is high time for change to come and we will see over the coming days what may happen. Let’s be clear, if this atmosphere prevails at Fifa, I have no place there.”

D’Hooghe has served on Fifa’s ruling body since 1988, a decade before Blatter’s move up from secretary general to president.

“If you are faced with an abscess, simple medication does not suffice,” D’Hooghe said. “You have to cut it open.”

Heather Rabbatts went a step further and resigned from her post on the Fifa anti-discrimination task force.

That body, until last week, was chaired by Jeffrey Webb, who was suspended as a Fifa vice president and remains in custody in Switzerland along with six others after being arrested as part of the US corruption investigation.

Rabbatts is also a director at the English Football Association, a long-standing critic of Blatter.

“Like many in the game I find it unacceptable that so little has been done to reform Fifa,” she wrote in a letter to the organisation. “And it is clear from the re-election of President Blatter that the challenges facing Fifa and the ongoing damage to the reputation of football’s world governing body are bound to continue to overshadow and undermine the credibility of any work in the anti-discrimination arena and beyond.”

The corruption scandal crept closer to Fifa's Zurich headquarters when the New York Times reported late Monday that US law enforcement officials believe the high-ranking Fifa member mentioned in the indictment as having made a US$10-million (Dh36.7m) payment central to the investigation was Blatter's right-hand man, Jerome Valcke.

The report cited unidentified officials who believe Valcke, Fifa’s secretary general, transferred the money in 2008 to accounts controlled by Jack Warner, the former Concacaf president and Fifa vice president. That payment was allegedly made in exchange for Warner and others having voted to give the 2010 World Cup to South Africa.

Fifa said the payment, which South African officials have said was meant to help with football development in the Caribbean, was authorised by the then-finance committee chairman, per Fifa regulations. The chairman, Julio Grondona, died last year.

The debate in Britain, where Blatter faces some of his harshest criticism, made its way to Parliament on Monday, and Whittingdale wasn’t alone in his condemnation of the Fifa president.

Chris Bryant, the sports spokesman for the opposition Labour Party, said Blatter was a “tainted leader of a corrupt organisation” who was re-elected because of “Mafioso cronyism”.

Fifa on Monday provisionally banned another official – Concacaf General Secretary Enrique Sanz – as its ethics committee assesses evidence from the US criminal investigation.

An unidentified co-conspirator listed in last week’s indictment fit the description of Sanz’s work history. Sanz, who has been battling leukaemia, was placed on a leave of absence by Concacaf on Thursday.

Follow us on Twitter @NatSportUAE

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
Ruwais timeline

1971 Abu Dhabi National Oil Company established

1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants

1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed

1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.  

1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex

2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea

2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd

2014 Ruwais 261-outlet shopping mall opens

2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies

2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export

2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.

2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery 

2018 NMC Healthcare selected to manage operations of Ruwais Hospital

2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13

Source: The National

Jawan
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EAtlee%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Shah%20Rukh%20Khan%2C%20Nayanthara%2C%20Vijay%20Sethupathi%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A
BEETLEJUICE BEETLEJUICE

Starring: Winona Ryder, Michael Keaton, Jenny Ortega

Director: Tim Burton

Rating: 3/5

The five pillars of Islam
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

Results

7pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Dirt) 1,600m; Winner: RB Kings Bay, Abdul Aziz Al Balushi (jockey), Helal Al Alawi (trainer)

7.30pm: Maiden (PA) Dh 70,000 (D) 1,600m; Winner: AF Ensito, Fernando Jara, Mohamed Daggash

8pm: Maiden (PA) Dh70,000 (D) 1,400m; Winner: AF Sourouh, Tadhg O’Shea, Ernst Oertel

8.30pm: Maiden (PA) Dh70,000 (D) 1,800m; Winner: Baaher, Fabrice Veron, Eric Lemartinel

9pm: Maiden (PA) Dh70,000 (D) 2,000m; Winner: Mootahady, Antonio Fresu, Eric Lemartinel

9.30pm: Handicap (TB) Dh70,000 (D) 2,000m; Winner: Dubai Canal, Tadhg O’Shea, Satish Seemar

10pm: Al Ain Cup – Prestige (PA) Dh100,000 (D) 2,000m; Winner: Harrab, Bernardo Pinheiro, Majed Al Jahouri

What is an ETF?

An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.

There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.

The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.

There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.

While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash. 


Abtal

Keep up with all the Middle East and North Africa athletes at the 2024 Paris Olympics

      By signing up, I agree to The National's privacy policy
      Abtal