LONDON: Borussia Dortmund coach Edin Terzic believes “anything is possible” as his side aim to pull off one of the biggest ever shocks in a Champions League final against the mighty Real Madrid at London’s Wembley stadium on Saturday.
The star-studded Spanish giants are heavy favorites to be crowned European champions for the 15th time, and a sixth in the last 11 seasons, against a Dortmund team that have beaten the odds just to make it to the English capital.
Madrid have lost just twice in 54 games in all competitions this season, storming to the title in La Liga by 10 points and thrashing Barcelona 4-1 to lift the Spanish Super Cup along the way.
However, they have had to once again dig deep to reach what coach Carlo Ancelotti described as the “biggest game of any season” in the Champions League.
“We have to enjoy being here,” said the Italian at his pre-match press conference. “But knowing it can go wrong because we are close to the most important thing in football — winning a Champions League — but having the fear this can escape us.”
Ancelotti’s men withstood a barrage from defending champions Manchester City to win their quarter-final tie on penalties before another legendary late fightback at the Santiago Bernabeu to beat Bayern Munich in the last four.
“We never stop believing, no matter how the circumstances are,” said Luka Modric, who along with Nacho, Dani Carvajal and Toni Kroos, in the final match of his club career, can win the European Cup for a record-equalling sixth time as a player.
“We always believe, keep believing, keep pushing, fighting until the end. In the end, we manage to find a way to beat opponents.
“Many people say there is luck, but when it happens so many times, I think it’s not just luck.”
Dortmund must breach the financial gulf between the sides to win the Champions League for just the second time in their history.
Last season Madrid posted record revenues of 831 million euros ($901 million) compared to Dortmund’s 420 million euros, according to financial experts Deloitte.
The career path of Jude Bellingham exemplifies the scale of the task facing the Germans.
Plucked from English Championship side Birmingham as a teenager, he was molded and developed by Dortmund before being picked off by Madrid for a transfer fee in excess of 100 million euros 12 months ago.
Without him, Dortmund struggled domestically this season, finishing fifth in the Bundesliga, 27 points adrift of Bayer Leverkusen.
Yet, Terzic’s men have saved their best for the Champions League stage to reach the final for the third time in the club’s history and first since they lost at Wembley to Bayern Munich 11 years ago.
Dortmund topped the group of death featuring Paris Saint-Germain, AC Milan and Newcastle.
PSV Eindhoven and Atletico Madrid were then seen off before a heroic defensive display kept out PSG over two legs in the semifinals.
“They are the favorites but we don’t care, we haven’t been the favorites against Atletico or against PSG,” said Terzic.
“But if we are brave and not here to watch Real Madrid lift the trophy, if we are here to give them a game, then we have a chance.”
Over 100,000 fans of the German giants are estimated to have made the trip to London despite the club being allocated just 30,000 tickets for the 90,000 capacity stadium.
UEFA will be hoping the focus is on the protagonists on the field come full-time to ensure their decision to return to Wembley for a major final is not questioned.
Three years ago, the final of Euro 2020 was marred by violence as ticketless fans stormed the stadium doors to gain entry.
The English Football Association have invested £5 million ($6 million) into improving safety and infrastructure at Wembley, which is also set to host the Euro 2028 final.
Dortmund dream of shocking Real Madrid in Champions League final
https://arab.news/cmnen
Dortmund dream of shocking Real Madrid in Champions League final
Casa Riyadh win Silver Cup polo championship
- Polo teams show ‘good technical performance and strong competition’ in first championship of the season
RIYADH: Casa Riyadh won the Silver Cup polo tournament after beating the Tuwaiq Team 5-4 in the final match at the Nova Equestrian Resort field, west of the capital Riyadh.
On Saturday, Casa Riyadh’s captain, Prince Salman bin Sultan bin Salman, accepted the championship trophy from Amr Zidane, the president of the Saudi Polo Federation. Ibrahim Al-Harbi, Salman bin Haif and Mohammed Nafeed won golden medals alongside Prince Salman.
Zidane said that the third edition of the Silver Cup was the first championship of the polo season in Saudi Arabia and that teams delivered a “good technical performance and strong competition” in the latest tournament.
The Tamam team of Hashem Al-Alawi, Abdulmohsen Al-Hokair, Faisal Abunyan, and the Argentine Marcelo Antonio came second, while Tuwaiq players Khaled bin Muammar, Mudhar Al-Zoubi, Asif Shah and Britain’s George Amor secured third place.
The Silver Cup is played using a points system. In the event of a tie, the team with the most goals wins.
Zidane said that there are six local competitions in the current polo season that “will enhance the technical performance and readiness” for the Saudi national polo team’s international competition.
Pakistan’s finance chief says PM Sharif will soon unveil ‘home-grown’ economic agenda
- Muhammad Aurangzeb calls the recent IMF visit part of ongoing talks, enhancing mutual trust
- The visit came weeks after the $7 billion loan approval, making observers think it was unusual
ISLAMABAD: Prime Minister Shehbaz Sharif will soon unveil a “home-grown agenda” for economic development, Finance Minister Muhammad Aurangzeb said on Sunday, as he informed that his interaction with a visiting International Monetary Fund (IMF) delegation last week went well, providing both sides an opportunity to enhance mutual trust.
The IMF delegation, led by Pakistan mission chief Nathan Porter, completed a five-day trip to the country during which it held wide-ranging conversations with the government.
The international lending organization approved a $7 billion loan for Pakistan in September, though it explicitly stated that the delegation’s visit was not part of the first review of the loan program, which is scheduled for the first quarter of 2025.
The IMF visit, which came just weeks after the loan’s approval, surprised observers who considered it unusual, though the finance minister described it as part of an ongoing dialogue between the two sides, noting that it resulted in a positive IMF statement.
Aurangzeb also said the government would specify its overall economic game plan in the next few days.
“The prime minister will soon share a home-grown agenda about how we are going to take forward our overall economic roadmap,” he said, without disclosing its details. “It has been very well syndicated with all the stakeholders.”
The minister emphasized that dealings between Pakistan and the IMF were completely transparent, with all agreed details available in the public domain. He noted the recent discussions with the IMF covered taxation and energy reforms, along with the privatization plan for state-owned enterprises and public finances.
“I welcomed this visit because this is an ongoing dialogue to ensure mutual credibility and trust,” he added. “We have shared our roadmap with them and explained how we are taking things forward.”
The finance minister said the two sides would continue to hold virtual talks, though he noted that he appreciated every opportunity to meet IMF officials face-to-face.
He also mentioned that discussions with the international lender included climate resilience and decarbonization, emphasizing that these issues had to be addressed alongside broader economic challenges rather than sequentially.
Pakistan has faced a prolonged economic crisis marked by rapid currency devaluation and dwindling foreign exchange reserves, which forced it to seek external financial assistance from friendly nations and global financial institutions.
The country has seen an improvement in its macroeconomic indicators in recent months, though it has yet to fully recover from its financial difficulties.
Reflecting on his visit to Washington for the World Bank and IMF meetings earlier this year, Aurangzeb described the discussions as productive.
“They gave us a platform to share with the comity of nations about how we turned the economy around in 14 months,” he said. “We also got an important message, which is that there is no room for complacency and we must stay the course [of stringent economic reforms].”
Closing Bell: Saudi main index rises to close at 11,811
- Parallel market Nomu gained 9.64 points, or 0.03%, to close at 29,477.35
- MSCI Tadawul Index also gained 4.49 points, or 0.30%, to close at 1,485.85
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 20.80 points, or 0.18 percent, to close at 11,811.98.
The total trading turnover of the benchmark index was SR4.22 billion ($1.12 billion), as 115 of the stocks advanced and 116 retreated.
The Kingdom’s parallel market Nomu gained 9.64 points, or 0.03 percent, to close at 29,477.35, with 41 listed stocks advancing and 41 declining.
The MSCI Tadawul Index also gained 4.49 points, or 0.30 percent, to close at 1,485.85.
The best-performing stock of the day was The Mediterranean and Gulf Insurance and Reinsurance Co., whose share price rose 9.96 percent to SR20.98.
Other top performers included Saudi Reinsurance Co. and Thimar Development Holding Co., with their share prices increasing by 6.89 percent to SR38.80, and 6.04 percent to SR43.90, respectively.
The share prices of Saudi Cable Co. and The Co. for Cooperative Insurance also surged by 5.39 percent and 5.08 percent to SR97.70 and SR132.40, respectively.
The worst performer was Arriyadh Development Co., whose share price dropped by 5.27 percent to SR26.05.
Other notable decliners included Alistithmar AREIC Diversified REIT Fund and Red Sea International Co., whose share prices fell by 3.68 percent to SR9.43, and 3.34 percent to SR66.50, respectively.
Zamil Industrial Investment Co. and The National Co. for Glass Industries also saw declines, with their share prices falling by 3.33 percent to SR26.15, and 3.14 percent to SR49.40, respectively.
On the announcements front, Amwaj International Co. disclosed its board of directors’ recommendation to distribute SR6 million in cash dividends to shareholders for the fiscal year ending Dec. 31.
According to a statement on Tadawul, the dividends will cover 6 million eligible shares, with a payout of SR1 per share, representing 10 percent of the share’s par value.
Amwaj International Co. concluded the trading session at SR42, marking an impressive 18.57 percent increase.
Arab Sea Information Systems Co. announced updates regarding its project with the Al-Madinah Region Development Authority for managed IT services.
The company was notified of the decision to cancel the competition due to procedural violations identified following a grievance by a competitor, according to a filing on Tadawul.
The grievance was filed before the award decision or in opposition to it and the company clarified that no costs are associated with the development.
Arab Sea Information Systems Co. closed the session at SR7.13, down 0.84 percent.
Safa Investment launches SR1.1bn real estate fund
Safa Investment Company announced the launch of the “Flow MENA 1st Residential Fund,” an income-generating fund with a total value of SR1.1 billion ($292 million), during its participation in Cityscape Global 2024 in Riyadh. This initiative, launched in partnership with Flow MENA and SICO Capital, marks a strategic step by Safa Investment to boost value in the residential sector and offer unique investment opportunities.
The fund has successfully acquired five newly developed residential complexes, designed to the highest global standards, to furnish, operate, and lease them. The fund aspires to provide a high-quality residential experience in rental communities, focusing on maximizing returns and enhancing income throughout its operational duration.
In its statement, Safa Investment said that the fund is based on an innovative global model, aimed at delivering a unique residential experience and increasing the appeal of residential investment opportunities in the Kingdom.
Saudi Arabia condemns Israeli strike on UNRWA school in Gaza
- Foreign Ministry said the Kingdom reiterates its “categorical rejection of the Israeli occupation’s continued targeting of civilians and relief agencies”
RIYADH: Saudi Arabia condemned on Sunday an Israeli strike that killed at least 10 Palestinians and wounded at least 20 others on Saturday at a school in Gaza City’s Shati refugee camp currently sheltering displaced families.
The Abu Assi school is run by United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), the main agency that has been procuring and distributing aid in the Gaza Strip.
The Foreign Ministry said the Kingdom reiterates its “categorical rejection of the Israeli occupation’s continued targeting of civilians and relief and humanitarian agencies amid the silence of the international community.”
It called on the international community to assume its responsibilities towards ongoing Israeli violations that increase the suffering of the Palestinian people and undermine the chances of achieving peace in the region.
Recently passed Israeli laws have effectively banned UNRWA activities in Israel and the the commissioner-general of the agency Philippe Lazzarini has warned that this will leave a vacuum that will cost more Palestinian lives and create further instability in Gaza and the West Bank.
