Barely six months into his Real Madrid reign and Xabi Alonso is quickly finding out that heavy is the head that wears the crown at Santiago Bernabeu.
After making nigh on 250 appearances in Real's midfield during his playing career, Alonso took over as coach back in May, fully aware of the unique pressures he would face being in charge of one of the biggest clubs in the world.
“This is a very special day for me,” he said at his unveiling. “A day that I will have marked in my calendar for life. I am very happy to be here, in what I feel is my home … I have the feeling that this is the beginning of a new era.”
But the new era has not gone according to plan so far with Alonso's position already under threat as he struggles to deal with player tantrums, criticism of his tactics, a nightmare injury list and a string of poor results.
On Sunday, Real were beaten at home for the first time this season, a humiliating 2-0 loss to Celta Vigo that saw Fran Garcia and Alvaro Carreras sent off, while unused substitute Endrick was also shown a red card as Madrid imploded in spectacular fashion.
It was Celta's first win at the Bernabeu since May 2014, leaving Real four points behind leaders Barcelona after securing just one victory in five La Liga matches.
Real Madrid 0 Celta Vigo 2 – in pictures
“We are all angry, evidently this was not the game we wanted, it was not the result we wanted,” Alonso said after the match.
“We need to turn the page as quickly as possible. There's a long way to go in La Liga and we have the Champions League game against [Manchester] City [on Wednesday] to react, and get rid of this bad taste out of our mouths.”
Even before the Celta loss, Alonso revealed that he had held “very positive” talks with club president Florentino Perez about their dip in form. “We're struggling, that's the reality,” said the former Bayer Leverkusen coach. “We need unity. That's what we're focused on.”
Injuries have certainly not helped Alonso's cause – particularly in defence – with the Spaniard forced to name 20 different line-ups in 21 matches due to absentees.
Fragile defender Eder Militao is back among the walking wounded with the Brazilian set to be sidelined for three months due to a hamstring injury, while summer signing Trent Alexander-Arnold's stalled start in the Spanish capital goes on after the full-back was ruled out for two months with a thigh problem.
Right-back Dani Carvajal underwent knee surgery in October and will not return until next year. The same for left-back Ferland Mendy. Centre-back David Alaba is also out with a calf problem.
On the pitch, September's 5-2 derby thrashing by Atletico Madrid had brought the manager's honeymoon period in charge to a juddering halt, while Alonso has also had to deal with attacker Vinicius Junior's public displays of frustration at being substituted in the win over Barca.
Up front, Kylian Mbappe is enjoying a prolific run of 16 goals in 16 La Liga games, but Real have become reliant on the Frenchman with Vinicius the next best with five, with Jude Bellingham and Arda Guler both notching three. Rodrygo last found the back of the net in La Liga in January.
“This is a team, this is a club, and we're all united,” insisted Alonso on Tuesday. “When you're the Real Madrid coach, you have to be prepared to face these situations calmly, with unity, and with the responsibility that I feel, and I’m looking forward for what’s to come and that starts tomorrow.
“We know we can turn this around. From the anger that was there, which was normal, to the excitement that's being generated thinking about tomorrow.
“We're focused solely on City and the Champions League, and this can change quickly. Fortunately, in football, for better or for worse, the vision, the perspective, can shift quickly, and we're at that moment.”
When asked whether he still had the backing of the club's board, Alonso responded: "Communication is constant, it's based on trust, unity, and affection; we're all in this together, and yes, it's constant.
“We are all in this together. We have to get through this, in the good times and the not-so-good times, without wavering.”
On Wednesday, Alonso will go head-to-head with Pep Guardiola for the first time as a coach, as Real look to maintain their positive start to the Champions League campaign that has seen them win four out of five matches.
Alonso played under Guardiola at Bayern Munich when the pair would help the German giants win back-to-back Bundesliga titles. “I was 32, I already had a lot of career under my belt, but in two or three years, I learnt so, so much,” Alonso said recently of his old mentor.
“In terms of understanding the game – understanding, explaining and anticipating it – Pep was ahead of his time, and, in my opinion, he still is.”
City are currently second in the Premier League with their weekend win over Sunderland cutting the gap on leaders Arsenal down to two points, while Erling Haaland is matching Mbappe's goal-a-game record with 15 in 15 matches.
“We're mentally prepared to face everything that comes our way,” said Alonso. “At this moment, everyone is convinced that we can win tomorrow, there's no doubt. Nobody has any doubts.
“But for that, we have to play a good game, we have to play with good rhythm, with good intensity.”
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.”
SPECS
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Company%20Profile
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COMPANY PROFILE
**Name:**Airev
**Started:**September 2023
**Founder:**Muhammad Khalid
**Based:**Abu Dhabi
**Sector:**Generative AI
**Initial investment:**Undisclosed
**Investment stage:**Series A
**Investors:**Core42
**Current number of staff:**47
While you're here
While you're here
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Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
PROFILE OF STARZPLAY
Date started: 2014
Founders: Maaz Sheikh, Danny Bates
Based: Dubai, UAE
Sector: Entertainment/Streaming Video On Demand
Number of employees: 125
Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Race card
4pm Al Bastakiya Listed US$300,000 (Dirt) 1,900m
4.35pm Mahab Al Shimaal Group 3 $350,000 (D) 1,200m
5.10pm Nad Al Sheba Turf Group 3 $350,000 (Turf) 1,200m
5.45pm Burj Nahaar Group 3 $350,000 (D) 1,600m
6.20pm Jebel Hatta Group 1 $400,000 (T) 1,800m
6.55pm Al Maktoum Challenge Round-3 Group 1 $600,000 (D) 2,000m
7.30pm Dubai City Of Gold Group 2 $350,000 (T) 2,410m
The National selections:
4pm Zabardast
4.35pm Ibn Malik
5.10pm Space Blues
5.45pm Kimbear
6.20pm Barney Roy
6.55pm Matterhorn
7.30pm Defoe
More from Neighbourhood Watch:
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Kareem Shaheen on Canada
Red flags
Promises of high, fixed or 'guaranteed' returns.
Unregulated structured products or complex investments often used to bypass traditional safeguards.
Lack of clear information, vague language, no access to audited financials.
Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
MATCH INFO
Sheffield United 3
Fleck 19, Mousset 52, McBurnie 90
Manchester United 3
Williams 72, Greenwood 77, Rashford 79
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Kandahar%20
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The Bio
Favourite vegetable: “I really like the taste of the beetroot, the potatoes and the eggplant we are producing.”
Holiday destination: “I like Paris very much, it’s a city very close to my heart.”
Book: “Das Kapital, by Karl Marx. I am not a communist, but there are a lot of lessons for the capitalist system, if you let it get out of control, and humanity.”
Musician: “I like very much Fairuz, the Lebanese singer, and the other is Umm Kulthum. Fairuz is for listening to in the morning, Umm Kulthum for the night.”
More from Aya Iskandarani
On Women's Day
Company name: Play:Date
Launched: March 2017 on UAE Mother’s Day
Founder: Shamim Kassibawi
Based: Dubai with operations in the UAE and US
Sector: Tech
Size: 20 employees
Stage of funding: Seed
Investors: Three founders (two silent co-founders) and one venture capital fund
While you're here
What is dialysis?
Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.
It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.
There are two kinds of dialysis — haemodialysis and peritoneal.
In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.
In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.
It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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