Ramires left Chelsea this week, and it is not to Bayern Munich, Juventus or Paris Saint-Germain, three clubs recently linked to the Brazil international.
At 28, and despite beginning only seven Premier League matches this season, the midfielder represents an understandable target for Europe’s sides given his reputation and record. Last season, Ramires featured 23 times in the league for Chelsea, helping the club become champions of England.
He is a footballer of significant substance, hence the reported interest from the reigning champions in Germany, Italy and France.
Read more:
The 10 greatest foreign players to grace UAE football part II — 5-1
Paulinho, Robinho, Brazilian style and the ‘changing’ of Chinese football
Done deal: Asamoah Gyan completes move from Al Ain to Shanghai on two-year contract
However, Ramires was set for Jiangsu Suning, the ninth-best club in last season’s Chinese Super League. From West London to the Far East, worth approximately €28 million (Dh112m) in transfer fee. It is an extraordinary move in what is fast becoming one of football’s most remarkable stories.
The Chinese Super League, already replete with notable names in Paulinho, Asamoah Gyan, Demba Ba, Luiz Felipe Scolari and Sven-Goran Eriksson, this past week added Gervinho, with the Ivory Coast forward signing for Hebei China Fortune, a club who secured promotion to the top flight only in November.
Private beach and helicopter jokes aside, the ability to attract a 28-year-old starter from a leading European side, Roma, underlines the increasing pull of China.
Its appeal appears set only to grow. This month, Nani, Fredy Guarin and Wesley Sneijder have been suggested targets for Shanghai Shenhua. Late Wednesday, Guarin sealed a deal to join from Inter Milan.
Irrespective of the veracity of the other speculation, the list of potential acquisitions demonstrates China’s ambition. It is worrying development for UAE football.
The Arabian Gulf League has made substantial strides since turning professional in 2008, and the past few years have highlighted a welcome shift in transfer policy. For the majority, Emirati clubs have begun to favour young, emerging players with potential, rather than star names. In recent seasons Manuel Lanzini, Fabio de Lima and Everton Ribeiro have excelled.
Yet China’s rise, reflected last November in Guangzhou’s second Asian Champions League success in three years, constitutes a considerable threat. Footballers seeking a change in environment have an attractive alternative, bona fide and bankrolled by big business, backed by president Xi Jinping’s desire to place Chinese football on the map.
That Ribeiro, arguably the AGL’s most accomplished foreign playmaker, currently interests Guangzhou reinforces China’s emergence as an authentic rival to the UAE.
Gyan was a high-profile departure to SIPG last July, but Al Ain were keen to cash in on a striker approaching 30 and increasingly susceptible to injury. Still, Emirati clubs will not compete with weekly salaries believed to be upwards of €300,000 (Dh1.20 million).
China has the resources and the fan base: last season, attendances averaged at 21,800 compared to 2,529 in the AGL. Most importantly, it has the ambition. The CSL already boasts the continental champions; as the capture of Ramires indicates, it is rapidly transforming into Asia’s premier football destination, too.
jmcauley@thenational.ae
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THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
SPECS
Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EMaly%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Mo%20Ibrahim%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%20International%20Financial%20Centre%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20%241.6%20million%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2015%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%2C%20planning%20first%20seed%20round%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GCC-based%20angel%20investors%3C%2Fp%3E%0A
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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.”
Structural%20weaknesses%20facing%20Israel%20economy
%3Cp%3E1.%20Labour%20productivity%20is%20lower%20than%20the%20average%20of%20the%20developed%20economies%2C%20particularly%20in%20the%20non-tradable%20industries.%3Cbr%3E2.%20The%20low%20level%20of%20basic%20skills%20among%20workers%20and%20the%20high%20level%20of%20inequality%20between%20those%20with%20various%20skills.%3Cbr%3E3.%20Low%20employment%20rates%2C%20particularly%20among%20Arab%20women%20and%20Ultra-Othodox%20Jewish%20men.%3Cbr%3E4.%20A%20lack%20of%20basic%20knowledge%20required%20for%20integration%20into%20the%20labour%20force%2C%20due%20to%20the%20lack%20of%20core%20curriculum%20studies%20in%20schools%20for%20Ultra-Othodox%20Jews.%3Cbr%3E5.%20A%20need%20to%20upgrade%20and%20expand%20physical%20infrastructure%2C%20particularly%20mass%20transit%20infrastructure.%3Cbr%3E6.%20The%20poverty%20rate%20at%20more%20than%20double%20the%20OECD%20average.%3Cbr%3E7.%20Population%20growth%20of%20about%202%20per%20cent%20per%20year%2C%20compared%20to%200.6%20per%20cent%20OECD%20average%20posing%20challenge%20for%20fiscal%20policy%20and%20underpinning%20pressure%20on%20education%2C%20health%20care%2C%20welfare%20housing%20and%20physical%20infrastructure%2C%20which%20will%20increase%20in%20the%20coming%20years.%3C%2Fp%3E%0A
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E77kWh%202%20motors%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E178bhp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E410Nm%0D%3Cbr%3E%3Cstrong%3ERange%3A%20%3C%2Fstrong%3E402km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh%2C150%2C000%20(estimate)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ETBC%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
