Manchester City boss Pep Guardiola has seen his team win all three of their games so far this season. AP
Manchester City boss Pep Guardiola has seen his team win all three of their games so far this season. AP
Manchester City boss Pep Guardiola has seen his team win all three of their games so far this season. AP
Manchester City boss Pep Guardiola has seen his team win all three of their games so far this season. AP

Pep Guardiola to miss Manchester City games after back surgery


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Pep Guardiola is set to miss the next two Manchester City games after a "routine operation" to correct a persistent back injury.

City said their treble-winning manager had been suffering from "severe back pain for some time" and he flew out for surgery in Barcelona where he will remain to begin his recovery.

The Spaniard, who will remain in Barcelona while he recovers from the operation, is expected to miss City's matches at Sheffield United this Sunday and Fulham on September 2 at the Etihad Stadium, with assistant manager Juanma Lillo taking charge in his absence.

The club season then takes a two-week break for international matches before City return to Premier League action against West Ham United on September 16 – when Guardiola is expected to return – with the Champions League group stage kicking off the following week.

"Pep Guardiola has today undergone a routine operation on a back problem," said the club in a statement.

"The Manchester City boss has been suffering with severe back pain for some time, and flew out to Barcelona for emergency surgery performed by Dr Mireia Illueca. The surgery was a success, and Pep will now recover and rehabilitate in Barcelona.

"In his absence, assistant manager Juanma Lillo will oversee coaching of the first team on the training field and will assume duties on the touchline until Pep's return.

"He is expected to return after the forthcoming international break. Everyone at Manchester City wishes Pep a speedy recovery, and look forward to seeing him back in Manchester soon."

Lillo, 57, is in his second stint as Guardiola's assistant at City, having held the position from 2020-22 after joining from Qingdao Huanghai in China following Mikel Arteta's exit to become manager of Arsenal.

Man City 1 Newcastle 0: Player ratings

He left in June 2022 to take up a position as coach at Al Sadd in Qatar and had previously been a mentor to Guardiola as a player during their time together at Mexican club Dorados de Sinaloa in 2006.

But Lillo returned to his old role at the Etihad this summer, much to the delight of Guardiola. “Juanma sees things no one else in the game sees," he told the club's website earlier this month.

"He understands football on an incredible level, so he is the perfect person for me to work alongside. I have always been inspired by him – his knowledge of football, his intelligence and his humanity mark him out as a very special person in my life – and we have a shared ideology.

“He is a friend, a colleague and an inspiration. I am so, so happy he is back here at Manchester City. His preparation for matches is absolutely amazing. I know he will raise standards because he works so hard every single day."

City have started the new season with three wins out of three games after beating Burnley 3-0 and Newcastle United 1-0 in the Premier League, while also defeating Sevilla via a penalty shoot-out to lift the Uefa Super Cup.

Juanma Lillo, alongside Pep Guardiola, during his first spell as Manchester City assistant coach in 2021. PA
Juanma Lillo, alongside Pep Guardiola, during his first spell as Manchester City assistant coach in 2021. PA
A cryptocurrency primer for beginners

Cryptocurrency Investing  for Dummies – by Kiana Danial 

There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine. 

Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.

Although cryptocurrencies are a fast evolving world, this  book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.

Begin your cryptocurrency journey here. 

Available at Magrudy’s , Dh104 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • 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
UAE currency: the story behind the money in your pockets
How the UAE gratuity payment is calculated now

Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.

The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.

1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):

a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33

b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.

2. For those who have worked more than five years

c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.

Note: The maximum figure cannot exceed two years total salary figure.

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

The specs: 2018 Mercedes-Benz S 450

Price, base / as tested Dh525,000 / Dh559,000

Engine: 3.0L V6 biturbo

Transmission: Nine-speed automatic

Power: 369hp at 5,500rpm

Torque: 500Nm at 1,800rpm

Fuel economy, combined: 8.0L / 100km

Apple product price list

iPad Pro

11" - $799 (64GB)
12.9" - $999 (64GB)

MacBook Air 

$1,199

Mac Mini

$799

TOURNAMENT INFO

2018 ICC World Twenty20 Asian Western Regional Qualifier
The top three teams progress to the Asia Qualifier

Thursday results
UAE beat Kuwait by 86 runs
Qatar beat Bahrain by five wickets
Saudi Arabia beat Maldives by 35 runs

Friday fixtures
10am, third-place playoff – Saudi Arabia v Kuwait
3pm, final – UAE v Qatar

War and the virus
The specs

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Power: 194hp at 5,600rpm

Torque: 275Nm from 2,000-4,000rpm

Transmission: 6-speed auto

Price: from Dh155,000

On sale: now

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While you're here
UAE currency: the story behind the money in your pockets
Trippier bio

Date of birth September 19, 1990

Place of birth Bury, United Kingdom

Age 26

Height 1.74 metres

Nationality England

Position Right-back

Foot Right

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.

Rocketman

Director: Dexter Fletcher

Starring: Taron Egerton, Richard Madden, Jamie Bell

Rating: 3 out of 5 stars 

Updated: September 25, 2023, 8:49 AM`