Goalkeeper Gianluigi Donnarumma has completed his move to Manchester City.
The Italy international joins from Paris Saint-Germain in a deal worth a reported €30 million and has signed a five-year contract that will keep him at the Etihad Stadium until the summer of 2030.
He replaces the long-serving Ederson, who has joined Turkish side Fenerbahce.
Donnarumma will wear the number 99 shirt and becomes City's seventh signing of the summer following the arrivals of Rayan Ait-Nouri, Tijjani Reijnders, Marcus Bettinelli, Rayan Cherki, Sverre Nypan and James Trafford.
Widely considered one of the best goalkeepers in the world and captain of the Italian national team, Donnarumma arrives having played a key role in PSG's maiden Champions League success last season.
“To have signed for Manchester City is such a special and proud moment for me,” said the 26-year-old.
“I am joining a squad packed with world class talent and a team led by the one of the greatest managers in the history of football in Pep Guardiola. This is a club every player in world football would love to join.
“I have admired watching Manchester City for many years – so to now be able to play for the Club is a huge honour and a privilege. I cannot wait to meet my new teammates, the staff and the fans. Playing at the Etihad Stadium will be very, very special for me.
“I am very excited for what lies ahead and can promise that I will give absolutely everything to try to help the Club achieve even more success.”
City's Director of Football Hugo Viana added: “Gianluigi’s pedigree, quality and record speaks for itself, and we are all absolutely thrilled he has joined us here at City.
“He has accumulated a wealth of top-level experience and knows what is required to achieve success on a sustained level.
“From a remarkably young age, he has played at the very top level. That is unusual for a goalkeeper and it means he arrives here as one of the best in the world in his position. There is no doubt Gianluigi will bring further quality and depth to our top-class goalkeeping department.
“Everyone here is very excited to welcome Gianluigi to Manchester City and we wish him all the very best during his time here with us.”
Ederson completed a move to Fenerbahce following eight “amazing” years at City. The 31-year-old leaves the Etihad Stadium having helped the club to 18 major honours, including six Premier League titles, two FA Cups, four League Cups and a Champions League.
Ederson told City’s website: “I leave incredibly proud of what we have achieved together, and I am honoured to have worn the shirt so many times.
“Under (head coach) Pep (Guardiola), we have dominated the Premier League and conquered Europe. It has been amazing.
“I arrived in Manchester eight years ago full of hope, but I could not have predicted such a beautiful time together.
“Playing for City has been the most special time of my life and I will always be a fan of this special club.”
His replacement Donnarumma started his professional career with AC Milan in 2015, becoming the second youngest goalkeeper ever to debut in Serie A, aged 16 years and 242 days.
After six years with Milan, Donnarumma moved to Ligue 1 with PSG where he won 10 major trophies and played 104 games. His stay in the French capital was then crowned in May of this year when he helped PSG claim a maiden Champions League title.
On the international stage, Donnarumma became the youngest goalkeeper ever to appear for Italy, aged 17 years and 189 days. He now has 74 caps to his name and was influential in the penalty shoot-out victory over England in the 2020 European Championship final.
Donnarumma was also named Player of the Tournament – a first for a goalkeeper – and was awarded the Yachine Trophy for his performances that year at the 2021 Ballon d’Or ceremony.
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Tenet
Director: Christopher Nolan
Stars: John David Washington, Robert Pattinson, Elizabeth Debicki, Dimple Kapadia, Michael Caine, Kenneth Branagh
Rating: 5/5
What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Set-jetting on the Emerald Isle
Other shows filmed in Ireland include: Vikings (County Wicklow), The Fall (Belfast), Line of Duty (Belfast), Penny Dreadful (Dublin), Ripper Street (Dublin), Krypton (Belfast)
Company profile
Name: Tratok Portal
Founded: 2017
Based: UAE
Sector: Travel & tourism
Size: 36 employees
Funding: Privately funded
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.”
UAE currency: the story behind the money in your pockets
Black Panther
Dir: Ryan Coogler
Starring: Chadwick Boseman, Michael B Jordan, Lupita Nyong'o
Five stars
A list of the animal rescue organisations in the UAE
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Zayed Sustainability Prize
RESULTS
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
THE BIO
Age: 30
Favourite book: The Power of Habit
Favourite quote: "The world is full of good people, if you cannot find one, be one"
Favourite exercise: The snatch
Favourite colour: Blue
Breast cancer in men: the facts
1) Breast cancer is men is rare but can develop rapidly. It usually occurs in those over the ages of 60, but can occasionally affect younger men.
2) Symptoms can include a lump, discharge, swollen glands or a rash.
3) People with a history of cancer in the family can be more susceptible.
4) Treatments include surgery and chemotherapy but early diagnosis is the key.
5) Anyone concerned is urged to contact their doctor
THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
UAE currency: the story behind the money in your pockets
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
