Cristiano Ronaldo becomes first billionaire footballer

Cristiano Ronaldo has become the first footballer to reach billionaire status, according to the latest Bloomberg Billionaires Index, which has valued the Portugal great’s net worth at an estimated $1.4bn.

The 40-year-old striker’s financial ascent comes after he signed a new contract with the Saudi Arabian side Al-Nassr in June reportedly worth more than $400m.

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Bloomberg said Ronaldo earned more than $550m in salary from 2002 to 2023, supplemented by a decade-long Nike deal worth nearly $18m annually and lucrative endorsements with Armani, Castrol and others that added more than $175m to his fortune.

Ronaldo’s move to Al-Nassr from Manchester United in 2023 had already made him the highest paid player in football history with an annual salary of 177 million pounds ($237.52m) plus bonuses and a reported 15 percent share in his Saudi club.

Argentina and Inter Miami forward Lionel Messi has earned more than $600m in pre-tax salary during his career.

Ronaldo’s billionaire status places him among a rare group of athletes that includes basketball greats Michael Jordan, Magic Johnson and LeBron James; golfer Tiger Woods; and tennis player Roger Federer.

Ronaldo suggested he is not considering retirement any time soon.

“I still have a passion for this,” he said at the Portugal Football Globes gala on Tuesday. “My family says it’s time to quit, and they ask me why I want to score 1,000 goals if I’ve already scored 900-something. But I don’t think that way inside.

“I’m still producing good things. I’m helping my club and the national team. Why not continue? I am sure that when I finish, I will leave full because I gave everything of myself. I know I don’t have many years left to play, but the few I have left, I have to enjoy them to the fullest.”

Lazio Ultras arrested after 2026 Winter Games corruption attempt

Two brothers from an Italian football hooligan group, Lazio’s Irriducibili, have been arrested and accused of trying to illegally obtain public works contracts for next year’s Winter Olympics, Italian prosecutors say.

The men, originally from Rome, sought to profit from the Olympics after establishing Mafia-style control over drug dealing and nightlife activities in the Alpine resort of Cortina, Venice prosecutors said in a statement.

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The resort in northern Italy is cohosting the February 6-22 Winter Games with Milan.

The arrested men are accused of posing as high-level members of Rome’s criminal underworld, vaunting their friendship with the late leader of the Irriducibili Fabrizio Piscitelli, who was shot in a Rome park in 2019.

“Irriducibili” roughly translates as “diehards”.

The brothers terrorised business rivals in Cortina, prosecutors charged, mentioning the case of a nightlife events organiser who was dragged into the woods, beaten and held at gunpoint.

A man who owed them drug money was locked in a car boot and threatened with death, and two “unauthorised” drug dealers were also beaten up.

In 2022, the pair approached a member of Cortina’s city government, offering electoral support, which the politician did not accept. They later used a threatening message to ask to be given Olympic contracts, prosecutors said.

The brothers, one of whom was put in pre-trial detention while the other is under house arrest, are accused of extortion aggravated by Mafia-style methods. Five more suspects face the same charges but were not arrested.

Russia says prospects for Ukraine peace deal now faded as its war rages on

Russia appears resigned to the collapse of peace efforts for the war it instigated, and prosecutes to this day, in Ukraine following President Vladimir Putin’s summit with his United States counterpart Donald Trump in Anchorage, Alaska, in August, saying whatever progress emerged from the historic meeting has all but unravelled.

Speaking to Russia’s federal assembly on Wednesday, Deputy Foreign Minister Sergey Ryabkov said, “Unfortunately, we must admit that the powerful momentum generated by Anchorage in favour of agreements … has largely been undermined.”

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Ryabkov blamed European countries for much of the impasse, accusing them of wanting to wage “a war to the last Ukrainian”, according to Russia’s state-owned TASS news agency.

His comments appeared to dash any faint hopes for a quick end to the war in Ukraine, now in its fourth year, whose rapid resolution Trump had made a key campaign promise.

Casting himself as a mediator, the US president made early overtures to Moscow and pressured Ukraine to make painful territorial concessions, once even berating its President Volodymyr Zelenskyy in the White House and accusing him of “gambling with World War III”.

Trump’s diplomatic push culminated in the historic Alaska summit, but it failed to produce a truce or meaningful compromises from Moscow.

Since then, the US president has grown weary of Putin’s reticence towards a deal, saying he is “very disappointed” with the Russian leader, who claims Moscow has captured 5,000 square kilometres (1930 square miles) in Ukraine in 2025 alone.

Trump has also appeared to do a U-turn on Ukraine, recently saying the country should try to “take back” all its occupied territory with Europe’s and NATO’s help.

As the Kremlin continues to attack civilian areas on a near-daily basis, Zelenskyy has reiterated that only increased punishing sanctions, including from the US, will rein Russia in. Trump has been reluctant to take that critical next step.

Last month, US Vice President JD Vance said Washington was considering sending long-range Tomahawk cruise missiles to Ukraine, a move Putin has warned would mean a “whole new level of escalation”.

On Wednesday, Ryabkov said sending Tomahawks to Ukraine would have “severe” consequences and urged Washington to reconsider the decision.

Ryabkov said US-Russian ties were “cracking” at their “foundation” – and “the Americans are to blame for this.”

Ukrainian energy infrastructure targeted

Deadly aerial attacks between Russia and Ukraine continued early Wednesday, with each side accusing the other of targeting civilians.

In Russia’s Belgorod region bordering Ukraine, a missile attack killed three people in the village of Maslova Pristan, about 15km (nine miles) from the border, the local governor said.

The governor said the attack had partially destroyed a “social facility” and posted images of what appeared to be a sports hall, its facade partially shattered.

A crater next to a sports complex building destroyed by what Russian authorities called a recent Ukrainian missile attack, in the settlement of Maslova Pristan in Russia’s Belgorod region, October 8 [Governor of Belgorod Region Vyacheslav Gladkov via Telegram/Handout via Reuters]

Moscow’s Ministry of Defence said it had intercepted 53 Ukrainian drones overnight, most of them over the Belgorod region, a frequent target of attacks.

Russia, for its part, fired at least 183 drones at Ukrainian territory between late Tuesday and early Wednesday, the Ukrainian air force said. Among the targets were rail and energy infrastructure, Ukrainian Prime Minister Yulia Svyrydenko said.

One attack seriously damaged one of Ukraine’s thermal power plants, a key energy supplier leading into the winter, according to Ukrainian electricity provider DTEK. Another strike, in the southern city of Kherson, killed two elderly people, local officials said.

‘Hybrid warfare’ in Europe

Meanwhile, European Commission President Ursula von der Leyen has blamed Russia for waging a form of “hybrid warfare” in Europe, after weeks of air incursions, cyberattacks and damage to undersea cables rattled countries including Estonia, Belgium, Denmark, Germany, Poland and Romania.

Will Trump’s tariffs push China and India closer?

India and China are resuming direct flights after five years of suspension and say they will strengthen trade ties.

Their relationship has long been defined by rivalry, competing ambitions and a disputed border. Now, India and China are resuming direct flights after a five-year suspension.

United States President Donald Trump’s tariffs and a shifting trade landscape could push them closer together.

For China, it is about offsetting the tariff pressure and expanding trade links.

For India, it is a chance to attract investment even as it holds to its goal of becoming an alternative manufacturing hub to China.
At stake is the balance of global supply chains and economic influence.

And what’s behind China’s K visa?

‘Police are lenient’: Zimbabwe’s disabled black market currency dealers

Harare, Zimbabwe – Kenias Mutsenha had long ceased using his Zimbabwean local currency bank account, abandoning it for one trading in US dollars, as many in the economically volatile country prefer dealing with more stable foreign currencies.

But when he took on consultancy work in Harare this year and a client needed to pay him in Zimbabwe Gold, or ZiG, currency, he returned to the bank to reopen his account. There, the teller asked for a reactivation fee in ZiG notes. Again, Mutsenha only had US dollars, which the bank would not accept or exchange.

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“I had to find cash somewhere,” Mutsenha, 46, said, realising there was only one place he could go: “The streets”.

While most Zimbabweans prefer trading in US dollars – to avoid the pitfalls of major currency fluctuations – government institutions use local currency. At the same time, banks don’t have enough ZiG notes, as the Central Bank – wanting Zimbabwe to move towards a cashless society – has not put enough cash in circulation, experts say.

As a result, people flock to Harare’s central business district (CBD), where there is a thriving black market foreign exchange trading operation.

Since the launch of the ZiG last year, the government has been clamping down on informal currency dealers. But this has only created a situation where the suppliers find new avenues to explore – as Mutsenha discovered that day.

Finding local currency on the street was a nightmare, he said. “I wandered in the CBD until one illegal forex dealer [who said he had no cash] directed me to a certain street. I was told the person [exchanging money] is disabled on a wheelchair.”

On a bustling street corner, Mutsenha found Leonard Mumba*, who used to sell mobile phone airtime at a local bus terminus but now deals in something far more lucrative, secretive, and risky.

Every day except Sundays, 43-year-old Mumba is wheeled into town by a relative. He works from about 7am to 6pm from the same spot on the corner, and is paid a weekly commission by the black market dealer who hired him.

As Mutsenha handed over his US dollar note to Mumba, he observed the subtle operations of this trade. “A man came from across the road, walking, passing by the street corner. He just dropped a black satchel at this illegal forex dealer and hooked it on the wheelchair. They did not speak to each other,” Mutsenha recounted.

All across the capital city, dealers like Mumba now sit in wheelchairs and on sidewalks with satchels of banknotes. Silent handoffs are not uncommon to witness: A plastic bag tossed casually at a trader’s feet as a supplier walks by, avoiding eye contact and accountability.

A man uses old Zimbabwean dollar notes to buy groceries in Harare. Zimbabwe’s currency is weak against foreign currencies, so many locals prefer to use the US dollar [File: Tsvangirayi Mukwazhi/AP]

Police are more ‘lenient’

After the 2024 introduction of the ZiG and the associated government crackdown on illegal money traders, an increasing number of people with disabilities have taken up the trade in Harare, observers and disability rights groups say.

Although there are no clear estimates of how many people with disabilities work as black market dealers, Plaxedes Choto, a disability activist, told Al Jazeera that in the CBD alone, there are more than three dozen disabled people involved in the trade.

While some have approached the trade organically, others, like Mumba, were recruited to be proxies for someone else.

“I used to sell airtime at Copacabana bus terminus, but when police continued rounding up the money changers, one of the suppliers approached me to work for him,” Mumba told Al Jazeera from his street corner.

“Due to my condition [being in a wheelchair], police would not easily suspect me, especially in the beginning,” he said. “And they are lenient on arrest due to our circumstances.”

People with disabilities may be overlooked or viewed more sympathetically by the police, who are less likely to crack down on them, according to observers. Thabiso Moyo, a Harare-based social justice activist and human rights defender, told Al Jazeera this is because police stations are often not disability friendly, which creates hassles for the officers.

“Being generally spared from police raids then creates a situation which allows wheelchair users to be shields and proxies in a broader system of economic survival and corruption. Real culprits hide behind the disabled.”

Moyo notes that the shift to front-lining disabled money traders is a tactic that allows the real suppliers of illicit street currency to stay behind the scenes and be more protected.

Despite their work with sought-after US dollars, observers say there are seldom reports of disabled money traders being robbed by thieves. However, many traders say law enforcement agents approach them for bribes in exchange for allowing their operations to continue.

Despite any risks, for many, including Mumba, the benefits of the job outweigh previous economic ventures. “With airtime and fruits it was quite a hustle. And now everyone wants money – cash or online transfers, both in USD and ZiG. It’s a lucrative business and I could not deny such a [job] offer.”

Not too far away, Clever Gorejena*, another street currency dealer, has been in a wheelchair since an accident a decade ago left him disabled. He dabbles in the trade to make additional income.

Like Mumba, he works for someone else and is paid weekly on commission based on the profits from the transactions he makes.

“I took the offer as an opportunity to make money. I deal in both hard currency and online transactions using my phone. In addition to forex exchange, I also sell airtime. Those are my two major activities,” he told Al Jazeera.

Zimbabwe
People with disabilities face many challenges in Zimbabwe [File: Tsvangirayi Mukwazhi/AP]

Lack of opportunities

People with disabilities face many hurdles in Zimbabwe, including a high cost of living due to additional care and resources they may require. On the streets of Harare, several told Al Jazeera about the stressful cost of diapers, food for their specific diets, special transport services, and a support person or aids to help them get by.

Although Zimbabwe’s social welfare department gives monthly grants to people with disabilities, representatives of this community say it is a drop in the ocean. Employment prospects also remain a challenge. In 2021, Zimbabwe launched a national disability policy to close the gaps between disabled and able-bodied Zimbabweans. The policy stated the government’s intention for inclusion, including employment opportunities, but four years down the line, the community say they are still excluded and often exploited.

For many, this has led to begging or vending to earn money. According to a 2017 study by the National Association of Social Workers, 57 percent of people begging in Harare have a physical disability.

“Beggars with disabilities have a low level of education. Forty-seven percent have no formal education. This has made it difficult for them to get employed,” said the report.

As people attempt to leave begging, many are drawn to the informal sector because of the challenging economic situation, said Samantha Sibanda, the director of Signs of Hope Trust, an organisation for people with disabilities. Some fall into illegal currency dealing, while others sell what they can in the street.

“I think the national budget and other economic outlooks have shown that, generally, we have now moved to an informal economy,” said Sibanda. “But for persons with disabilities, the challenges are unique,” she added, including insufficient access to education, as few schools provide accessible infrastructure. This then affects their chances of getting a formal job. And even for the employed, workplace discrimination remains a challenge.

“This is a huge gap in inclusion. Our infrastructure was built without the disabled in mind,” Sibanda said. “The majority of the disabled find their way to city centres, in the streets or vending due to lack of opportunities.”

Zimbabwe
People queue to withdraw money from a bank in Harare [File: Philimon Bulawayo/Reuters]

‘We meet in the streets’

In August, the Harare City Council conducted Operation Restore CBD Order, during which officials inspected shops and buildings to ensure their businesses were complying with the law.

The city council told Al Jazeera that although it was aware that disabled people are working in the illegal money trade in Harare, the current focus of its operation was on unlicensed shops and illegal infrastructure in the greater CBD.

“But anyone operating any business within the CBD without regulation through the City of Harare is illegal, including those in the streets,” added Stanley Gama, the city’s spokesperson.

Other concerned stakeholders say that despite government efforts to fight illegal forex trade, currency shortages and bureaucracy in the banking system drive the black market operation.

In Zimbabwe, changing foreign currency to local notes the official way is a long process, involving paperwork and banks asking for detailed information. Meanwhile, changing ZiG to foreign currency requires Central Bank approval and is near impossible, locals say. So many choose to go the black market route.

Ngonidzashe Mutsigo, a Harare resident, mentions other challenges for Zimbabweans.

“I don’t have a bank account; it costs to maintain a bank account in Zimbabwe. It costs to withdraw and transact using the bank account. So I think such things are the ones that make the business of informal money changing blossom,” he said.

“Unfortunately, even for those with bank accounts, when they want to buy the USD in the bank, they don’t get it, and we meet in the streets.”

A black-market money supplier who provides currency to disabled traders said that, these days, ZiG notes are scarce. As the ZiG is in demand, the supplier, who requested anonymity for security reasons, told Al Jazeera, black market suppliers often source it from big businesspeople.

“There are people in business and government getting tenders and paid in local currency – this is big money – millions. And the only way for them to get the USD is to come to the streets.”

Even though the government pays in local currency, the “big shots” want US dollars, he said.

“We help them by looking for the greenback … and we work with our guys on the ground, including those with disabilities. We believe in numbers – the more we get these people, the quicker our money is turned into the sought-after USD.”

New Zimbabwean banknotes
Zimbabwe Reserve Bank Governor John Mushayavanhu holds a ZiG note [File: Jekesai Njikizana/AFP]

‘Tough times’

In June, the Reserve Bank of Zimbabwe (RBZ) reported that it had achieved one year of ZiG stability.

“Zimbabwe’s exchange rate has become more stable, with the difference between the official and black market rates now below 20 percent. The country also received more foreign currency … [This has] made it easier for businesses and individuals to access foreign currency for genuine needs, and helped keep the financial sector stable and healthy,” said RBZ governor, John Mushayavanhu.

Observers and financial experts, however, say the RBZ is not realistic about the situation on the ground, where US dollars are in demand and widely different exchange rates on the official and parallel markets have created opportunities for illegal dealers to thrive.

Meanwhile, on the streets, people with disabilities have been drawn in, too – many out of desperation or necessity.

“We are living in tough times,” Sign of Hope’s Sibanda said. “We do also have people who have been exploiting persons with disabilities since time immemorial, using them for begging, using them to run their stores while they keep their money for themselves.” Recruitment by money traders wanting to stay in the shadows is the newest iteration of that.

“Operating a parallel market of forex or currency exchange is illegal, and we do not condone such activities,” Sibanda said. “But we do look forward to other opportunities that can give people with disabilities better incomes and a better life.”

On his street corner, Mumba agrees. Despite some financial respite, he says currency trading does not provide real security – neither economic nor social. He hopes the government will roll out initiatives and invest in helping him and others get away from the criminal trade and unsafe streets of Harare.

“No one knows about tomorrow. Robbers can target me, here or at home, and it will affect my family,” Mumba said.  “My biggest fear is that the work we do is illegal and does not help in building my country’s economy.”