Der Klassiker: Borussia Dortmund score late to earn dramatic draw with Bayern Munich


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Borussia Dortmund claimed a dramatic 2-2 draw against Bayern Munich on Saturday after Anthony Modeste scored four minutes into added time at the Westfalenstadion.

Modeste, who has been heavily criticised for a lack of output since moving from Cologne earlier in the season, came off the bench in the 70th minute and set up a 74th minute goal for teenage forward Youssoufa Moukoko.

The French striker then headed in the equaliser at the last possible moment from a superb cross from defender Nico Schlotterbeck.

Bringing his children onto the field immediately after the game, Modeste told Sky he had "copped plenty of criticism" since making the move to Dortmund.

"I complained during the week that I wasn't getting enough crosses - that's why I was a little surprised (when Schlotterbeck's cross came towards me)."

There was no shortage of spite in the early stages of a fixture which has been increasingly fiery in recent years, with three yellow cards in the first 14 minutes including one to Jude Bellingham for a foul on close friend and former England age-group teammate Jamal Musiala.

Bayern were reduced to 10 men in the 90th minute when Kingsley Coman picked up a second yellow for a challenge on Karim Adeyemi.

In the 33rd minute, Musiala cut the ball back to Leon Goretzka at the penalty arc and the midfielder - who spent six years at Dortmund's arch rivals Schalke - drilled in the first goal.

After 53 minutes, a falling Musiala set up Bayern's second, skidding a pass to former Manchester City forward Leroy Sane, who scored his fourth goal of the season.

The home side saw a ray of hope in the 74th minute when 17-year-old Moukoko became the youngest goalscorer in 'Der Klassiker' history.

Modeste scuffed a golden chance to equalise in the 83rd minute, but he spared his blushes 10 minutes later, securing Dortmund their first draw of the season.

After the match, Bayern manager Julian Nagelsmann complained that Bellingham had not seen a second yellow card when he connected with Alphonso Davies' face in the first half.

"There is a suspicion of concussion. That's not surprising, given there was a kick to the face," Nagelsmann told Sky.

Saying the draw was "a fair result", Nagelsmann turned the focus on his own side, saying "we could have closed it down, but we didn't."

Dortmund manager Edin Terzic lauded his team's "deserved" draw, saying: "We threw everything forward" and "needed every single person" to decide the match.

Bayern and Dortmund remain level on points in the Bundesliga table on 16, sitting third and fourth respectively. Surprise early leaders Union Berlin and second-placed Freiburg, both on 17, have the chance to extend the gap on Bayern and Dortmund when they face Stuttgart and Hertha Berlin respectively on Sunday.

UAE currency: the story behind the money in your pockets
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Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups

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Teachers' pay - what you need to know

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

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.”

Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

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If you go

The flights
Return flights from Dubai to Santiago, via Sao Paolo cost from Dh5,295 with Emirates


The trip
A five-day trip (not including two days of flight travel) was split between Santiago and in Puerto Varas, with more time spent in the later where excursions were organised by TurisTour.
 

When to go
The summer months, from December to February are best though there is beauty in each season

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Updated: October 09, 2022, 4:49 AM