Blind faith and costly mistakes - the story of Newcastle's demise



How fitting it was that Manchester United, dragged unwillingly into an English Premier League relegation dogfight in the immediate aftermath of being crowned champions of their country for a record-equalling 18th time, came victoriously through in the nerve-jangling final series of matches which determined which of their poorer relations clung on to elite status. Sir Alex Ferguson, United's triumphant manager, had returned to duty after wallowing in the Old Trafford title celebrations to be threatened, absurdly, with legal action if he did what every manager in his position would have done four days before a season-defining European Champions League final against Barcelona. The proposed summons was portrayed as a joint venture by three desperate North East neighbours -- Newcastle, Sunderland and Middlesbrough -- in pointing out that anything less than a full-on United presence at Hull City would be detrimental to their own survival hopes. Needless to say, all three clubs issued firm rebuttals that they had considered such action. Ferguson ignored those placatory messages in the same manner as he would have undoubtedly ignored the original slurs on his integrity. The Old Trafford manager sent out, as was his undoubted right, a team of fringe players to ensure that his main men are as fresh as possible for Wednesday's Rome showdown with the newly-proclaimed champions of Spain. As had always seemed likely, the United reserves still proved too good for a declining Hull team and did their business in a most professional manner, defeating their anxious hosts but not deflating them. The North East trio were given the result and the performance they wanted but none of them were good enough to take advantage and it became a question not so much the best of the three surviving but the least bad (Sunderland) after losing at home to Chelsea. Sunderland's reprieve, along with that of Phil Brown's Hull who did most of their unlikely survival work in the first half of the season, brought a ray of sunshine to Wearside as Tyneside and Teesside were cast into gloom and doom under dark clouds of uncertainty. Middlesbrough's relegation, though painful, will be dealt with philosophically by their well-respected chairman Steve Gibson who has been through it all before with a previous manager Bryan Robson. Gibson is not a trigger happy chairman and will probably show the same degree of loyalty to another distinguished former England international Gareth Southgate who wants to keep his job and carry out a rebuilding operation. Newcastle, on the other hand, will be cast into disarray by what has happened to them - an unthinkable situation in the view of those blinded by the fanaticism of being connected to one of the best supported teams in the game. Kevin Keegan turned Newcastle into everybody's second favourite club during his romantic spell as a player and then manager but by the time Keegan returned to try to rekindle his beloved club's fading fortunes, that nationwide popularity had disappeared to be replaced in the main by critical observations of how the club was being run. Alan Shearer, the only living former player who can claim to be more popular in the eyes of the Georgie faithful than Keegan, was the fourth man to take charge of team affairs this season and will now give much thought to whether he wants somebody else to have a go in the hottest of hot seats. The former England striker had eight matches to turn a tide which had grown into a torrent and he came up one agonising goal short of securing survival. One goal or one save? The strike at Villa Park which condemned Newcastle to the wilderness of second tier of domestic football after 16 years dining at the top table was deflected into their own net by Damien Duff. Goalkeeper Steve Harper failed to react quickly enough to stop the ball hit tamely by Aston Villa's Gareth Barry. Shay Given, the long-standing St James' Park No 1, might have done better. How typically misguided it was then to allow the inspirational Republic of Ireland international to move to Manchester City midway through the season. One of many costly mistakes made in haste by the beleaguered St James' Park hierarchy which they can now repent upon at leisure. wjohnson@thenational.ae

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Key facilities
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  • Premier League-standard football pitch
  • 400m Olympic running track
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  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Honeymoonish
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Thursday (All UAE kick-off times)

Sevilla v Real Betis (midnight)

Friday

Granada v Real Betis (9.30pm)

Valencia v Levante (midnight)

Saturday

Espanyol v Alaves (4pm)

Celta Vigo v Villarreal (7pm)

Leganes v Real Valladolid (9.30pm)

Mallorca v Barcelona (midnight)

Sunday

Atletic Bilbao v Atletico Madrid (4pm)

Real Madrid v Eibar (9.30pm)

Real Sociedad v Osasuna (midnight)

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Long read

Mageed Yahia, director of WFP in UAE: Coronavirus knows no borders, and neither should the response

Children who witnessed blood bath want to help others

Aged just 11, Khulood Al Najjar’s daughter, Nora, bravely attempted to fight off Philip Spence. Her finger was injured when she put her hand in between the claw hammer and her mother’s head.

As a vital witness, she was forced to relive the ordeal by police who needed to identify the attacker and ensure he was found guilty.

Now aged 16, Nora has decided she wants to dedicate her career to helping other victims of crime.

“It was very horrible for her. She saw her mum, dying, just next to her eyes. But now she just wants to go forward,” said Khulood, speaking about how her eldest daughter was dealing with the trauma of the incident five years ago. “She is saying, 'mama, I want to be a lawyer, I want to help people achieve justice'.”

Khulood’s youngest daughter, Fatima, was seven at the time of the attack and attempted to help paramedics responding to the incident.

“Now she wants to be a maxillofacial doctor,” Khulood said. “She said to me ‘it is because a maxillofacial doctor returned your face, mama’. Now she wants to help people see themselves in the mirror again.”

Khulood’s son, Saeed, was nine in 2014 and slept through the attack. While he did not witness the trauma, this made it more difficult for him to understand what had happened. He has ambitions to become an engineer.

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Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

The past winners

2009 - Sebastian Vettel (Red Bull)

2010 - Sebastian Vettel (Red Bull)

2011 - Lewis Hamilton (McLaren)

2012 - Kimi Raikkonen (Lotus)

2013 - Sebastian Vettel (Red Bull)

2014 - Lewis Hamilton (Mercedes)

2015 - Nico Rosberg (Mercedes)

2016 - Lewis Hamilton (Mercedes)

2017 - Valtteri Bottas (Mercedes)

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

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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)

'Gold'

Director:Anthony Hayes

Stars:Zaf Efron, Anthony Hayes

Rating:3/5

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.”