Manchester City have announced that former Ukraine Under-21 international Andrii Kravchuk is training with the club after travelling to the UK as a refugee. PA
Manchester City have announced that former Ukraine Under-21 international Andrii Kravchuk is training with the club after travelling to the UK as a refugee. PA
Manchester City have announced that former Ukraine Under-21 international Andrii Kravchuk is training with the club after travelling to the UK as a refugee. PA
Manchester City have announced that former Ukraine Under-21 international Andrii Kravchuk is training with the club after travelling to the UK as a refugee. PA

Former Ukraine U-21 international Andrii Kravchuk training with Manchester City


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Manchester City have announced that former Ukraine Under-21 international Andrii Kravchuk is training with the Premier League club after travelling to the UK as a refugee.

Kravchuk, 23, terminated his contract with Russian side Torpedo Moscow and fled to Manchester following Russia's military action in Ukraine.

City have received permission from the Home Office, Football Association and Premier League for Kravchuk to work with their Under-23s squad for the rest of the season. Fifa has allowed foreign players in Russia and Ukraine to temporarily suspend their contracts to move elsewhere.

However, the Premier League has not allowed such moves until the end of the season.

The arrangement was set up by City's Ukraine international Oleksandr Zinchenko. The two are childhood friends were together at the Shakhtar Donetsk academy.

Kravchuk, who linked up with City for the first time on Thursday, said: "I am so grateful to Manchester City for giving me this chance to train with them.

"The past few weeks and months have been so difficult, but to be back on the pitch means so much to me."

Kravchuk had been training in Turkey when he was informed by his mother that war had broken out.

Meanwhile, Zinchenko has continued to play despite the distress of the war back home and has been boosted by shows of support from both City and opposition fans.

"While I wish the circumstances were very different, it has been good to be back with Andrii today," said Zinchenko.

"I know how much football means to him, and how it can help us during these difficult times. I would like to thank my club for giving him the opportunity to train with us."

City's academy director Jason Wilcox said: "Although it's only a small gesture, we're pleased to have been able to support Andrii.

"By training with our Under-23s, he can maintain his fitness and practice his profession at City Football Academy while continuing to develop as a player."

SPECS
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Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Persuasion
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ECarrie%20Cracknell%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EDakota%20Johnson%2C%20Cosmo%20Jarvis%2C%20Richard%20E%20Grant%2C%20Henry%20Golding%20and%20Nikki%20Amuka-Bird%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%201.5%2F5%3C%2Fp%3E%0A
Naga
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3EMeshal%20Al%20Jaser%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%C2%A0%3C%2Fstrong%3EAdwa%20Bader%2C%20Yazeed%20Almajyul%2C%20Khalid%20Bin%20Shaddad%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A
The 12

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

Ipaf in numbers

Established: 2008

Prize money:  $50,000 (Dh183,650) for winners and $10,000 for those on the shortlist.

Winning novels: 13

Shortlisted novels: 66

Longlisted novels: 111

Total number of novels submitted: 1,780

Novels translated internationally: 66

MATCH INFO:

Second Test

Pakistan v Australia, Tuesday-Saturday, 10am​​ daily​​​​​ at Zayed Cricket Stadium, Abu Dhabi

Entrance is free

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Updated: April 01, 2022, 12:23 PM`