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Manchester United takeover: Sheikh Jassim’s Qatar group to make official bid on Wednesday | Confident that Glazers will sell

by www.skysports.com Leave a Comment

Sheikh Jassim Bin Hamad Al Thani will make his second bid for Manchester United on Wednesday evening.

Sources in the US say talks last Thursday in Manchester between Sheikh Jassim’s Qatari delegation and United executives were positive.

His advisers are now working on putting together a new bid which is expected to be submitted by close of business on Wednesday.

There is also growing confidence among bidders that the Glazer family, who believe the club is worth at least £6bn, are willing to sell United.

It was previously understood that the Qatari bidders were determined not to pay over the odds for the club, but that stance has softened in recent days coinciding with a delegation’s visit to Old Trafford.

A Qatari delegation travelled to Manchester from London by train and received a warm welcome. Talks were held across 10 hours – a lot longer than expected.

Sheikh Jassim and members of his team had been to Old Trafford as fans before, and the focus of this visit was to get a perspective on what they could do with their capital investment regarding infrastructure, youth development and the women’s team.

They had been trying to get a better understanding before they make another bid. It was too early for Sheikh Jassim to be there in person and he did not just want to go for a photo opportunity.

He sent his top team of experts in finance, banking, property and law with the Qataris totally committed and in this to buy the club.

Sky Sports News has been told by sources in New York that “there should be no doubt at all that Sheikh Jassim wants to be the owner and custodian of United”.

Ratcliffe expected to make second Man Utd offer

British billionaire Sir Jim Ratcliffe is also expected to make a second offer for Manchester United next week after visiting the club on Friday.

The INEOS delegation spent six hours at Old Trafford and Carrington with meetings finishing at about 4pm.

Ratcliffe and INEOS are making no comment, and they will now go away and digest the information they received on Friday before making a new formal offer.

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Sir Jim Ratcliffe arrives at Old Trafford on Friday as talks continue about a potential takeover of Manchester United.

Ratcliffe, 70, flew in from Nice on Thursday and visited United’s management team at Old Trafford on Friday, alongside INEOS sport representatives.

He was photographed outside Old Trafford after meeting club executives – unlike Sheikh Jassim, who did not visit Manchester personally the previous day.

Sky Sports News chief reporter Kaveh Solhekol said: “It’s an interesting contrast with Sheikh Jassim. Sir Jim was happy to be filmed and photographed, and it was significant that [Man Utd CEO] Richard Arnold was there to greet him when he arrived, shaking his hand and being photographed then too.

“It gives you another sense that maybe the Glazers are serious about selling Man Utd.

“This was a high-powered delegation from INEOS, he was there with the two co-owners, Andy Currie and John Reece. Sir Dave Brailsford, who used to be the director of cycling at Team Sky – he’s now INEOS’ director of sport and he was there too.”

Aaron Ramsey has described prospective Manchester United owner Sir Jim Ratcliffe as “very passionate” in his desire to take his Nice team “all the way to the top”.

Ramsey joined Nice – who the INEOS owner also runs – on a free transfer last summer.

“The owner is very passionate and very invested into Nice. He wants to take Nice all the way to the top,” new Wales captain Ramsey said at a press conference before opening Euro 2024 qualifiers against Croatia and Latvia.

Elliott Investment Management has also made it through to the second stage of the process, although the firm is said to be offering funding rather than a takeover.

Poverty, inflation, fear: Egypt’s economy pushed to brink

by indianexpress.com Leave a Comment

Stores are selling winter clothes from last season in the middle of summer. Repair shops lack spare parts for appliances. There’s a waiting list to buy a new car. Egypt, a country of more than 103 million people, is running low on foreign currency needed to buy essentials like grain and fuel.

To keep US dollars in the country, the government has tightened imports, meaning fewer new cars and summer dresses. For the nearly third of Egyptians living in poverty, and the millions more in poor conditions, the country’s economic woes mean life is much harder than off-season shopping — they’re seeing less food on the table.

A general view of Cairo, Egypt, May 25, 2022. For decades, millions of Egyptians have depended on the government to keep basic goods affordable. (AP Photo)

A decade after deadly protests and political upheaval rocked the Middle East’s most populous nation, the economy is still staggering and has taken new hits.

Fatima, a 32-year-old cleaner in Cairo, says her family stopped buying red meat five months ago. Chicken also has become a luxury. She’s borrowing from relatives to make ends meet. “If prices keep rising, the country will fall and won’t be safe anymore,” she said, asking to be identified only by her first name for fear of reprisal.

She worries that crime and theft will increase “because people won’t have enough money to feed themselves.”For decades, most Egyptians have depended on the government to keep basic goods affordable, but that social contract is under threat as the impact from Russia’s war in Ukraine leaves Egypt struggling to pay for grain imports for state-subsidised bread. It’s also grappling with surging consumer prices as the currency drops in value.

The threat of food insecurity in the world’s largest importer of wheat, 80% of which comes from the war-torn Black Sea region, has raised concerns of instability.

A baker stacks loaves of Egyptian traditional “baladi” flatbread outside a bakery, in the Old Cairo district of Cairo, Egypt. (AP Photo)

“In terms of, like, bread in exchange for freedom, that contract got violated a long time ago,” said Timothy Kaldas, an economic expert at the Tahrir Institute for Middle East Policy.

Annual inflation climbed to 15.3% in August, compared with just over 6% in the same month last year. The Egyptian pound recently hit a record low against a strengthening US dollar, selling at 19.5 pounds to $1.

That has widened trade and budget deficits as foreign reserves needed to buy grain and fuel plunged by nearly 10% in March, shortly after Russia’s invasion sent commodity prices soaring and investors pulled billions of dollars from Egypt.

Egypt has few options to deal with the hole in its finances. As with previous crises, it’s turned to Gulf Arab allies and the International Monetary Fund for a bailout. A new IMF loan would buoy Egypt’s dwindling foreign reserves, which have fallen to $33 billion from $41 billion in February.

Workers prepare to bake Egyptian traditional “Baladi” flatbread, beside wheat sacks inside a bakery, in the Old Cairo district of Cairo, Egypt. (AP Photo)

A new loan, however, will add to Egypt’s ballooning foreign debt, which climbed from $37 billion in 2010 — before the Arab Spring uprisings — to $158 billion as of March, according to Egyptian central bank figures.

Leaders blame the challenges on the coronavirus pandemic, which hurt the vital tourism industry, and price shocks sparked by the war in Ukraine. They’ve also faulted revolutionaries.“Why don’t you want to pay the cost of what you did in 2011 and 2013?” President Abdel Fattah el-Sissi said in televised remarks this month.

“What you did — didn’t that negatively impact the economy? “He was referring to protests, which toppled Egypt’s longtime president, ushered in a divisive Muslim Brotherhood presidency, and resulted in a populist-backed power grab by the military and el-Sissi’s ascension to power.

The former military general said the fallout from those years cost Egypt $450 billion — a price, he said, everyone must bear.“We solve the matter together. I am saying this to all Egyptians … we are going to finish this matter together and pay its price together,” he said.

Critics, however, argue the government has squandered chances to make real reforms and is overspending on superfluous mega-projects as it builds a new administrative capital.

A luffa vendor looks for customers in the Old Cairo district of Cairo, Egypt. (AP Photo)

The government has touted the construction boom as a job producer and economic engine. The state’s hold over the economy and the “outsized role of military-related enterprises” have historically crowded out foreign investors and the private sector, said Hasnain Malik, who heads equity research at Tellimer, an emerging-markets investment analysis firm.

The government’s plans to sell off minority stakes in some state-owned enterprises “does not necessarily fix this problem,” he said. Egypt’s elite can withstand rising costs, living comfortably in Nile-view apartments and gated communities around Cairo.

Life for middle-class Egyptians is deteriorating, said Maha, a 38-year-old tech company employee and mother of two who asked to only be identified by her first name to speak freely.“I think we will eventually move down the social ladder and end up below the poverty line,” she said.

The government took out a $500 million loan from the World Bank this summer and $221 million from the African Development Bank to help buy wheat. That covers around six weeks of a bread subsidy program supporting 70 million low-income Egyptians. China assisted with a $2.8 billion currency swap.

Egyptian traditional ‘baladi’ flatbread for sale at a bakery in the Shubra district of Cairo, Egypt. (AP Photo)

Saudi Arabia, the United Arab Emirates and Qatar stepped in with pledges of $22 billion in short-term deposits and investments. “Having what they define as stability in Egypt is in their strategic interests.

They really don’t want to go through a repeat of 2011 and its aftermath,” said David Butter, an associate fellow at international affairs think tank Chatham House.

The government announced an “extraordinary” social protection program to roll out this month, targeting 9 million families with extended cash transfers and food coupons. This is on top of other assistance programs, including pop-up stands selling subsidised food staples.

Officials point to how they managed the supply crunch brought on by the pandemic and the war in Ukraine, saying there is enough wheat and other basic food items for six months.

For some, the country offers no hope. Egyptians rank behind only Afghans as the top nationality of “irregular arrivals” to Europe so far this year, according to the International Organization for Migration’s flow chart. Most arrive by sea.

As pressure mounts on the Egyptian pound, the government could devalue the currency again.“It’s going to hurt. It’s going to increase inflation,” said Kaldas, the Tahrir Institute economic expert. “Subsidies on bread is only one line-item in a family’s budget. So, for a lot of families, this is still going to be a lot of pain.”

Air India confident on funding for world’s biggest aircraft deal

by economictimes.indiatimes.com Leave a Comment

Synopsis

Air India has placed an order of 470 aircraft from both Boeing Co. and Airbus SE, with deliveries due to start from the end of this year. Discounts are common for such large purchases. The airline is spending $400 million to upgrade its widebody planes, replacing all seats and in-flight entertainment systems with new products.

Air India Ltd. is in talks with banks to help fund its recently announced record aircraft order, benefitting from the support of new owner Tata Sons Ltd., the carrier’s chief executive officer said.

“We have the backing of Tata Sons, so there is financing available for these aircraft,” CEO Campbell Wilson said in an interview with Bloomberg News on the sidelines of the CAPA India Aviation Summit in New Delhi on Monday. “We have already made some downpayments for these aircraft from our internal funds.”

Air India has placed an order of 470 aircraft from both Boeing Co. and Airbus SE, with deliveries due to start from the end of this year. Discounts are common for such large purchases.

The formerly state-run carrier will use cash, shareholder equity, and sale and leaseback of aircraft to help fund the order, Wilson said last month. With the fleet expansion, Air India is seeking to take on the likes of Emirates and Qatar Airways, which dominate lucrative routes from India to the US and Europe through their hubs in Doha and Dubai.

Wilson didn’t say which banks Air India is talking to.

India has been quicker than most other nations to get back to pre-Covid levels of air traffic, aided by a strong local market and growing middle class. Domestic air traffic is expected to rise 20% to 160 million passengers in the year through March 2024, and the nation’s carriers may operate a fleet of 1,400 jets by 2030, according to Sydney-based CAPA Centre for Aviation.

India plans to spend about 980 billion rupees ($12 billion) over the next two years on airports, including new terminals and the renovation of existing facilities to meet surging demand. A lot of that growth may come from smaller cities where air travel penetration is low.

“India over the last few decades has been punching below its weight,” said Subhas Menon, director general of the Association of Asia Pacific Airlines. “The government is doing what is natural, to build up potential as an aviation hub.”

Air India is preparing to integrate Vistara, a joint venture between Singapore Airlines Ltd . and Tata Group, to form a single, full-service carrier. The airline is spending $400 million to upgrade its widebody planes, replacing all seats and in-flight entertainment systems with new products.

India’s largest conglomerate Tata bought Air India for $2.4 billion from the government in 2021. The high-profile privatization under Prime Minister Narendra Modi ended decades of attempts to sell the money-losing, debt-laden carrier, which had been kept alive on years of taxpayer bailouts.

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Italy vs England: The Three Lions travel to Naples for their first Euro 2024 qualifier – TV and stream info

by www.thesun.co.uk Leave a Comment

ENGLAND go to Naples hoping to avenge the heartbreak of the 2020 Euro final.

The Italians were victorious on penalties and claimed the silverware at the last tournament.

Roberto Mancini’s side have had England’s number since Gareth Southgate took the hot seat.

The two sides have met twice since the Euro 2020 final, with a draw and another Italy win in the Nations League.

The Three Lions haven’t beaten the Azzurris in a competitive game since 1977 World Cup.

But Italy are in a somewhat strange position, having not even featured at the World Cup.

Luckily for Roberto Mancini, he managed to keep his job.

England boss Gareth Southgate will be hoping to see a reaction from his players after yet more big competition disappointment.

The Three Lions WERE in Qatar in winter – but were knocked out by eventual defeated finalists France in the quarter-finals.

When is Italy vs England?

  • Italy vs England will take place on Thursday, March 23.
  • Kick off is at 7:45pm UK time
  • Diego Armando Maradona will play host.

What channel is Italy vs England on?

  • Italy vs England is will be shown live on Channel 4.
  • Coverage starts at 7pm UK time.
  • Alternatively, you can keep up to date with all the action from Naples by following SunSport’s live blog.

Can I live stream Italy vs England FREE?

  • Yes, you can live stream Italy vs England for FREE via the All 4 website, providing you have a valid TV license.
  • Streaming is also available via the All 4 app which is available to download for free on your mobile or tablet device.

What’s the latest team news?

Italy

Roberto Mancini’s squad includes some familiar names from Premier League clubs and many that featured in the Euro 2020 final against England.

Goalkeepers : Gianluigi Donnarumma, Wladimiro Falcone, Alex Meret, Ivan Provedel.

Defenders : Francesco Acerbi, Leonardo Bonucci, Alessandro Buongiorno, Matteo Darmian, Giovanni Di Lorenzo, Federico Dimarco, Alessio Romagnoli, Giorgio Scalvini, Leonardo Spinazzola, Rafael Toloi.

Midfielders : Nicolò Barella, Bryan Cristante, Davide Frattesi, Jorginho, Lorenzo Pellegrini, Matteo Pessina, Sandro Tonali, Marco Verratti.

Forwards : Domenico Berardi, Federico Chiesa, Wilfried Gnonto, Vincenzo Grifo, Simone Pafundi, Matteo Politano, Mateo Retegui, Gianluca Scamacca.

England

Gareth Southgate named his 25-man squad last week for the upcoming Euro 2024 qualifiers against Italy and Ukraine.

Goalkeepers : Jordan Pickford, Fraser Forster, Aaron Ramsdale.

Defenders : Ben Chilwell, Eric Dier, Marc Guehi, Reece James, Harry Maguire, Luke Shaw, John Stones, Kieran Trippier, Kyle Walker.

Midfielders : Jude Bellingham, Conor Gallagher, Jordan Henderson, James Maddison, Kalvin Phillips, Declan Rice.

Forwards : Phil Foden, Jack Grealish, Harry Kane, Bukayo Saka, Ivan Toney.

The most notable absentees from the squad are Ben White, Raheem Sterling (injured), Fikayo Tomori and Trent Alexander-Arnold.

While Brentford star Ivan Toney has been called up and will be hoping to claim his first England cap.

Odds

  • Italy – 15/8
  • Draw – 19/10
  • England – 27/20

*Odds courtesy of Ladbrokes and are correct at the time of publication.

Paul Merson makes Premier League title prediction and sends warning to Arsenal striker Gabriel Jesus

by metro.co.uk Leave a Comment

Paul Merson has made his Premier League title prediction and warned Gabriel Jesus he will ‘need to be patient’ as he doesn’t get in Arsenal’s team on current form.

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Arsenal moved eight points clear of Manchester City after thumping managerless Crystal Palace 4-1 at the Emirates Stadium on Sunday .

The Gunners are bidding to win their first league title since 2004 but are competing with a Man City side who have won the Premier League four times in the last five seasons.

Merson says Arsenal’s form over the past month has been ‘unreal’ and has backed his former club to clinch the title, though he admits they could do with being handed some favourable fixture times following the international break.

‘Arsenal’s destiny will be decided when the TV fixtures get released, in terms of who plays first on a weekend,’ he told Sky Sports . ‘I say that because if Arsenal play first they could go 11 points clear at the top.

‘I know Man City would have two games in hand but it’s a huge swing. 11 points is massive, you can’t make any mistakes. The pressure can get to you. It’s a really big advantage to be able to play your game without distractions.

‘I see Arsenal winning it from here. The way they are dismantling lesser teams is unreal.

‘You’d have thought Arsenal were playing against nine men at Fulham last week, that’s how dominant they were. The same against Crystal Palace. Arsenal are Rolls-Royce. I don’t see them getting caught.’

Merson has been stunned by Leandro Trossard’s form for Arsenal since his £28m move from Brighton in January and says the Belgian forward looks set to keep Jesus out of the team.

Ex-Manchester City striker Jesus enjoyed an impressive start to the season but has hardly played in 2023 after suffering a knee injury at the Qatar World Cup .

Merson added: ‘£28m for Leandro Trossard. Arsenal must have been thinking “is that all?” It’s a cup of tea in football terms.

‘The lad could go and play for Man City tomorrow morning. There’s an art to playing for Man City, not every player could do it, but he could.

‘He is two-footed, he’s a special player. You cannot knock Edu and Mikel Arteta for the way they have put this team together.

‘Gabriel Jesus doesn’t play at the moment, for me. He’s been out a long time. Trossard has come in and hit the ground running.

‘Look at Arsenal’s last three league games – three goals, three goals, four goals. It’s not like they are short of goalscorers.

‘Jesus is an unbelievable player to have on the bench, he’s got to be patient. It’s like having a transfer window now and Arsenal buying Jesus – it’s huge.’

MORE : Arsenal set for new head of recruitment as club restructure backroom staff

MORE : Martin Keown warns Arsenal about ‘horrible’ fixtures in Premier League run-in

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