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Sport UK News

McGregor might have money, but does he have a legacy?

There was a time when Conor McGregor, who is now amongst the highest paid athletes in the world, was well respected in his field.

Now though, he’s largely seen as a laughingstock in spite of his staggering net worth. Here we look at his journey.

Early life

McGregor was born and raised in Dublin, Ireland in July 1988. The man who is now known as ‘Notorious’ has always had passion for physical activity with the fighter first trying his hand at football. At the age of 12 he found boxing.

It wasn’t until after switching the city of Dublin for the quieter suburbs of Lucan – a 20 minute drive from the centre – that he would find his love of MMA. That’s something that developed off the back of a friendship with Tom Egan.

At 18, McGregor had his first fight. It proved to be his only amateur event as he breezed past his opponent before being snapped up by the Irish Ring of Truth promotion. Six years later, Dana White signed him to the UFC.

Making a name for himself

McGregor didn’t waste much time in building a reputation for himself. He blitzed his opening fight against Marcus Brimage and showed little sign of slowing up as he won his opening seven bouts with just one of them going the distance. McGregor was here to stay.

When he walked away from the UFC in 2016, he was widely considered to be one of the best fighters with his only loss coming courtesy of a Nate Diaz submission. His record read as 21-3-0. Not bad.

The beginning of a circus

McGregor used his big mouth to whip up a storm outside of MMA circles. The sole aim was to create an interest in his desire to try his hand at boxing. It worked, he talked his way to a money spinning bout with Floyd Mayweather.

The fight build up was ludicrous. McGregor was talking trash, Mayweather was talking trash. It was laughable.

McGregor had never boxed at even a half decent amateur level and there he was saying he’d bounce Mayweather’s head off the canvas. The guy is arguably the best pound-for-pound fighter for goodness sake.

Of course, Mayweather, who is nicknamed ‘Money’, lapped it up. He was due for a payday of at least – yes, at least – $100m with most predicting he’d double that tally with PPV cash added to the purse.

As expected, after talking himself up throughout the build-up, McGregor entered the ring with Mayweather only to be teased. The Irish fighter started brightly only to fade and be picked off with ease by Mayweather. Any positives of McGregor’s early performance was soon gone too as his opponent revealed it was the game plan all along knowing the inexperienced and rash headed McGregor would tire far too soon.

A rough return to UFC

After his much predicted loss to Mayweather, McGregor plotted a move back to a more familiar shape of ring. The route he took was shameless. The worst of it was probably the infamous bus attack after UFC 223 that led to McGregor getting slapped with assault charges.

The target of that outburst was Khabib Nurmagomedov. ‘Notorious’ was known to have been angered by Nurmagomedov’s decision to intimidate Artem Lobov – a close friend to McGregor – a few days earlier.

After a few months of petty jibes and plenty of insults the pair fought. McGregor’s weakness on the canvas came to the fore as Nurmagomedov beat him with a neck crank. It was a crushing blow to a man with an ego the size of McGregor’s.

An Instagram post by the fighter said he would ‘be back’ but six months later he announced his retirement; even that was dubbed a publicity stunt though.

That’s how it proved too because he’s since fought – and beat – Donald Cerrone. Another retirement announcement has been made. Still, the world is dubious whether it’s genuine or not.

Chasing the cash – again

Here we reach the crux of the matter. It’s why I’ll never hold McGregor in the regard his MMA record probably deserves. He isn’t about dominating the UFC. He is just about lining his pockets. I’ll give you just a few examples.

First, he keeps attempting to fire shots at Mayweather for a rematch. It’s not because he thinks he’d win. He wouldn’t. What he would get though is a handsome purse. The other boxing match that has been muted is a bout with Manny Pacquiao. Again, it’s not a fight McGregor has a chance of winning in the square ring.

Throw into the mix that YouTuber Jake Paul wants to arrange a boxing match with McGregor and he really is scraping the barrel for a pay day.

Here you have our opinion on why McGregor’s legacy is underwhelming, compared to the other names on the sport, as the already mentioned Khabib. And if you really like MMA, take your chances and learn how to bet clicking here: https://extra.betamerica.com/mma/how-to-bet-on-mma/

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Business Economy

Finance, Banking sectors garner most FPI investment in Nov

Foreign Portfolio Investments (FPI) have been bullish on the Indian equities off late and a significant portion of those investments are going into finance and banking stocks.

Financial services stocks attracted a net investment of Rs 16,389 crore during the first two weeks of November, with banks receiving Rs 11,519 crore out of it while other financial stocks received net investment of Rs 4,870 crore, as per NSDL data.

Capital goods, consumer durables, and oil and gas stocks followed the financial stocks in terms of FPI inflow with Rs 1,709 crore, Rs 1,532 crore and Rs 1,289 crore during the first half of November.

During November 1-15, 2020, FPIs made a net investment of Rs 29,436 crore into equities in India. So far, during the month, net FPI inflow has surged to Rs 53,167 crore.

FPIs made a return in October, after foreign investors made a pullout in September.

This trend is the likely to continue at least in the near term according to analysts, with high liquidity in the market post the measures announced by governments and central banks globally.

Experts noted that investors are looking for yield across the world and India provides them an opportunity where the cost of capital is low and can provide relatively higher growth over the long term.

A report by Kotak Institutional Equities showed that the September 2020 quarter witnessed Rs 46,900 crore of buying by FPIs. FPI holding (including ADR and GDR) in the BSE-200 Index increased to $415 billion in the September 2020 quarter from $360 billion at the end of the June 2020 quarter.

“FPI ownership in the BSE-200 Index stood at 23.3 per cent in September 2020. FPIs were net buyers in banks, diversified financials, IT services and oil, gas and consumable fuels’ sectors. DIIs [Domestic Institutional Investors] holding in the BSE-200 Index declined to 13.6 per cent in the September quarter from 14 per cent at the end of the June 2020 quarter,” it said.

DIIs, however, sold IT services, oil, gas and consumable fuels and pharmaceuticals sectors.

Currently too, DIIs have been on a selling spree and have been net seller off late, contrary to the investments by foreign investors.

Also Read: Centre to boost jobs, infra and rural economy with stimulus 3.0

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-Top News India News

India Daily Digital – November 25, 2020 – Tamil Nadu Braces For Cyclone Nivar

Tamil Nadu Braces For Cyclone Nivar; STOLTENBERG: NATO Won’t Let Daesh Rebuild in Afghanistan; Aramco Confirms Attack Has No Effect on Fuel Supplies – all in India Daily Digital – Please click here to read.

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Business World News

Airlines to see widening loss: IATA

The global airline industry’s net losses might widen to $118.5 billion in 2020, the International Air Transport Association (IATA) said on Tuesday.

In its revised outlook for airline industry performance in 2020 and 2021, it said that deep losses will continue into 2021, even though performance is expected to improve over the period of the forecast.

A net loss of $118.5 billion is expected for 2020, deeper than the $84.3 billion forecast in June.

Nevertheless, a net loss of $38.7 billion is expected in 2021 more than the $15.8 billion as projected by the previous forecast.

“Performance factors in 2021 will show improvements on 2020; and the second half of 2021 is expected to see improvements after a difficult 2021 first half,” the association said in a statement.

“Aggressive cost-cutting is expected to combine with increased demand during 2021 (due to the re-opening of borders with testing and or the widespread availability of a vaccine) to see the industry turn cash-positive in the fourth quarter of 2021 which is earlier than previously forecast.”

According to IATA, the pandemic crisis has challenged the industry for its very survival in 2020 as it faced half a trillion-dollar revenue drop from $838 billion in 2019 to $328 billion.

“This crisis is devastating and unrelenting. Airlines have cut costs by 45.8 per cent, but revenues are down 60.9 per cent. The result is that airlines will lose $66 for every passenger carried this year for a total net loss of $118.5 billion,” said IATA’s Director General and CEO Alexandre de Juniac.

“This loss will be reduced sharply by $80 billion in 2021. But the prospect of losing $38.7 billion next year is nothing to celebrate. We need to get borders safely re-opened without quarantine so that people will fly again. And with airlines expected to bleed cash at least until the fourth quarter of 2021, there is no time to lose.”

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-Top News USA

Asian Lite Daily Digital USA – November 24, 2020 – Trump Clears Way For Biden

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Categories
-Top News Arab News

UAE implements major corporate law rejig

President Sheikh Khalifa bin Zayed Al Nahyan has issued a decree overhauling foreign ownership rules of commercial companies, as part of the government’s ongoing efforts to ensure a conducive legislative environment and open up economy to all nationalities.

The decree, which introduces significant amendments to the UAE Federal Law No. 2 of 2015 on Commercial Companies, annuls the requirement for commercial companies to have a major Emirati shareholder or agent, providing full foreign ownership of onshore companies. Under the new amendments, businesses can now be fully established by non-Emiratis of all nationalities, with companies now having a maximum of one year to comply with the amended law from the time its articles become effective. This can be extended under a decision by the cabinet as proposed by the Minister of Economy.

The decree, in addition, supersedes the UAE Federal Law No. 19 of 2018 on Foreign Direct Investment (FDI Law). It also includes certain provisions and regulations related to limited liability and joint stock companies aimed at attracting foreign capital and further boosting the local economy.

The new law grants relevant local authorities a set of powers, including setting a specific percentage of Emiratis in the capital allocation and boards of directors of companies, approving requests to establish companies -except for joint stock companies- and identifying fees & charges according to the policies adopted by the UAE Cabinet.

Significant changes include that firms wishing to become joint stock companies can, after the approval of relevant authorities, sell no more than 70 pct of the company, instead of the current 30 pct, through IPOs.

Abu Dhabi Stock Exchange

The decree authorizes the cabinet to set up a committee that includes representatives of the relevant authorities with a view to proposing activities of “strategic impact” and the measures required to licence companies that operate in such areas. Upon the recommendation of the committee, the Cabinet will stipulate what activities shall be considered of strategic impact and the required measures for licensing such companies.

Electronic voting at general assembly meetings are now permitted under the new amendments.

The decree empowers the Securities and Commodities Authority to establish the controls and procedures required for evaluating in-kind shares and the names of stakeholders attending the general assembly meetings of companies. It also allows the appointment of board members who have the expertise and are not stakeholders, without stipulating a specific percentage, as well as the dismissal of a chairman or any other board members if a judicial judgement is issued against them for committing fraud or misuse of power.

The law enables stakeholders to sue a company in civil court over any failure of duty that results in damages.

Concerning capital increases or decreases in public companies, the decree enables the company to approve its capital increase through issuing bonds and converting them into shares.

It is also reflective of the UAE’s forward-looking vision to open up its economy by creating a favourable legislative environment that will keep pace with the changes taking place across global economy and supporting companies operating in the country.

Also Read: UAE, UK join hands to boost trade ties

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Business

Xiaomi logs record revenues in Q3

Xiaomi on Tuesday announced its third quarter results, beating industry estimates with record revenue and net profit riding on the stellar performance of its smartphone business.

The China-based company registered 72.2 billion yuan (nearly $1.09 billion) in the September quarter — a 34.5 per cent (on-year) growth, with a net profit of 4.1 billion yuan.

Smartphone revenues was 47.6 billion yuan — registering (on year) growth of 47.5 per cent with a global shipment of 46.6 million units.

In Q3 2020, Xiaomi’s revenue from overseas markets increased 52.1 per cent to 39.8 billion yuan, accounting for 55.1 per cent of total revenue.

“During the quarter, we achieved sustained growth across various business segments and the Group continues to pursue its core ‘Smartphone x AIoT’ strategy,'” Xiaomi Corporation said in a statement.

“We have the world’s leading smartphone business and consumer IoT platform with the former continuing to grow despite headwinds”.

In Q3 2020, Xiaomi’s smartphone business grew significantly — both revenue and shipments achieved record high levels — and kept the momentum for growth in both mainland China and in overseas markets.

According to Canalys, Xiaomi ranked third globally in terms of smartphone shipments with a market share of 13.5 per cent in Q3.

Xiaomi’s smartphone shipments market share in mainland China climbed to 12.6 per cent in the third quarter of 2020 from 9 per cent in the same period of 2019, maintaining a top four position.

Xiaomi continued its leadership in the mainland China smart TVs market and introduced a number of flagship products within the Mi TV Master Series in Q3 2020, further solidifying its position in the premium market.

Global shipments of Xiaomi’s Smart TVs reached 3.1 million units.

Xiaomi also maintained a leading position in a wide array of IoT products and continuously broadened its product portfolio and brought innovative technologies to users in the quarter.

Also Read: Xiaomi leads as India’s smartphone shipments hit record high

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Cricket Sport

Dhoni, Kohli, Mithali among ICC Player of the Decade nominees

India skipper Virat Kohli, former captain MS Dhoni, Rohit Sharma and ace off-spinner R Ashwin were on Tuesday nominated for the International Cricket Councils (ICC) Mens Player of the Decade award. Indian women nominees include skipper Mithali Raj and Jhulan Goswami.

Apart from Kohli and Ashwin, Joe Root (of England), Steve Smith (Australia), AB de Villiers (South Africa), Kane Williamson (New Zealand) and Kumar Sangakkara (Sri Lanka) were also nominated for this accolade.

Virat Kohli


Among other awards, the following are the nominees:

Men’s Test Player of the Decade
Kohli, Root, Williamson, Smith, James Anderson (England), Rangana Herath (Sri Lanka) and Yasir Shah (Pakistan).

Men’s ODI Player of the Decade
Kohli, Lasith Malinga (Sri Lanka), Mitchell Starc (Australia), de Villiers, Rohit Sharma (India), MS Dhoni (India) and Sangakkara.

Men’s T20I Player of the Decade
Kohli, Rohit, Malinga, Rashid Khan (Afghanistan), Imran Tahir (South Africa), Aaron Finch (Australia), and Chris Gayle (West Indies).

Women’s Player of the Decade
Ellyse Perry (Australia), Meg Lanning (Australia), Suzie Bates (New Zealand), Stafanie Taylor (West Indies), Mithali Raj (India) and Sarah Taylor (England).

Women’s ODI Player of the Decade
Raj, Lanning, Perry, Raj, Bates, Stafanie Taylor, and Jhulan Goswami.

Women’s T20I Player of the Decade
Lanning, Perry, Sophie Devine, Deandra Dottin, Alyssa Healy and Anya Shrubsole.

Spirit of Cricket Award of the Decade
Kohli, Dhoni, Williamson, Brendon McCullum (New Zealand), Misbah-ul-Haq (Pakistan), Anya Shrubsole (England), Katherine Brunt (England), Mahela Jayawardene (Sri Lanka) and Daniel Vettori (New Zealand).

The full list of nominations was announced on Tuesday on the official website of ICC and the winners will be decided on the basis of the number of votes a player receives.

Also Read: Aussie Coach Justin Langer Heaps Praise on Virat Kohli

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Cricket Sport

Ishant, Rohit to miss first two tests: Report

Ishant Sharma and Rohit Sharma have been reportedly ruled out of the first two Tests of the upcoming four-match Border-Gavaskar Trophy between India and Australia slated to begin from December 17 in Adelaide.

ESPNcricinfo confirmed the development and stated the hopes of both the players to take part in the last two Tests hinges on “swift and decisive action” from the Board of Control for Cricket in India (BCCI).

To be in contention for the third Test which begins January 7 next year in Sydney, Ishant, who has regained bowling fitness, will have to board a plane almost immediately, the report further said.

“If there is a T20 game and he needs to just bowl four overs, Ishant is good to go immediately, but for him to get back to Test-match fitness, he needs four weeks of proper bowling still,” a BCCI source was quoted as saying by ESPNcricinfo.

Rohit, on the other hand, is currently at the National Cricket Academy (NCA) recovering a hamstring injury he suffered during the 2020 edition of the Indian Premier League (IPL).

However, according to the report, the batsman is understood to be a while away from full fitness. He can be cleared travel only in the second week of December and will need two weeks of further rehabilitation after which a final assessment can be made.

According to a BCCI functionary, the 32-year-old would have had a better chance of featuring in the Test series had he flown directly to Australia with the other squad members after taking part in the IPL in the United Arab Emirates, the report further stated.

Indian cricketers Ishant Sharma and Rohit Sharma during a practice session (File Photo)

Even if Rohit flies out on the earliest possible date, which is December 8, he would have to undergo a two-week quarantine, which will keep him out of training until at least December 22, the report said.

Earlier, Team India head coach Ravi Shastri had on Sunday said that Rohit and Ishant will have to be on the flight to Australia in the “next four or five days” if they are to take part in the Test series.

Meanwhile, Cricket Australia Chief Executive Officer (CEO) Nick Hockley confirmed on Tuesday said that the Adelaide Test between Australia and India will go on as per schedule.

“You are aware that there was a small, contained cluster of Covid cases last week. We have been working very closely with the South Australian government and at this stage we have been given assurances that it has been contained,” Hockley said in response to a question by IANS during an interaction with Indian media.

“The lockdown that they were under finished last Saturday. So at this stage all assistance go for the Adelaide Test. We are confident that it will go ahead as scheduled,” he added.

There had been doubts over the first Test — a pink-ball fixture — as coronavirus outbreak in South Australia led to suggestions that the December 17-21 match at the Adelaide Oval, the only Test of the Border-Gavaskar Trophy which Virat Kohli will play before returning to India for the birth of his child, be shifted to the latter half of the series.

Before the Test series, Australia and India are scheduled to play three ODIs and three T20Is beginning Friday.

Also Read: Kohli’s absence an opportunity for youngsters: Ravi Shastri

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Read More: ‘Kohli’s Absence Will Put Pressure On Other Players’

Categories
Sport UK News

UK stadia to allow maximum 4K fans from December

England will allow a limited number of fans at outdoor sports events when the four-week lockdown amid the Covid-19 pandemic ends on December 2.

On Monday, UK Prime Minister Boris Johnson announced the government’s new measures and Covid-19 restrictions in the country.

According to BBC Sport, a maximum of 4,000 fans will be allowed at outdoor events in the lowest-risk areas. Up to 2,000 people will be allowed in tier two areas but none in tier three.

Indoor venues in tiers one and two can have a maximum of 1,000 spectators, with capacity across indoor and outdoor venues limited to 50 per cent.

Premier League, England’s top-tier football tournament, has welcomed the announcement made by the UK PM.

“Fans have been greatly missed at Premier League matches and therefore we welcome the Prime Minister’s announcement today regarding the return of supporters for the first time since March, albeit at small numbers,” the league said in a statement.

“Our ambition remains to work with government to increase attendance to more substantial levels. Until this can be done, many fans will be unable to attend games and our clubs will continue to operate matches at a financial loss,” it added.

Elite sport has continued behind closed doors during the national lockdown, but grassroots and amateur sport has been halted since November 5 following a second wave of coronavirus outbreak.