All set for kicking off Apec Economic Leaders’ Week

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All set for kicking off Apec Economic Leaders’ Week

All set for kicking off Apec Economic Leaders’ Week

MONDAY, NOVEMBER 14, 2022

The Apec Economic Leaders’ Week kicked off on Monday at Bangkok’s Queen Sirikit National Convention Centre (QSNCC).

Prime Minister Prayut Chan-o-cha welcomed representatives of the “Apec Voices of the Future”, who were at Government House to deliver their “youth declaration”

All set for kicking off Apec Economic Leaders’ Week
All set for kicking off Apec Economic Leaders’ Week
All set for kicking off Apec Economic Leaders’ Week

An exhibition at the Queen Sirikit National Convention Centre (QSNCC) on Thailand’s bio-circular-green (BCG) economic model opened alongside the Apec Economic Leaders’ Week to promote sustainable and inclusive growth.

All set for kicking off Apec Economic Leaders’ WeekAll set for kicking off Apec Economic Leaders’ WeekAll set for kicking off Apec Economic Leaders’ WeekAll set for kicking off Apec Economic Leaders’ WeekAll set for kicking off Apec Economic Leaders’ WeekAll set for kicking off Apec Economic Leaders’ Week Members of media work inside the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaMembers of media work inside the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaDelegates walk inside the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaDelegates walk inside the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaRiot police officers stand guard near the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaRiot police officers stand guard near the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaRiot police officers stand guard near the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaRiot police officers stand guard near the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaPolice officers check a vehicle in front of the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaPolice officers check a vehicle in front of the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaRiot police officers stand guard near the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit PerawongmethaRiot police officers stand guard near the Queen Sirikit National Convention Center where the APEC summit will be held, in Bangkok, Thailand, November 14, 2022. REUTERS/Athit Perawongmetha

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Apec and its members | The Nation

Prayut welcomes youth delegation, as summit kicks off at QSNCC

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Prayut welcomes youth delegation, as summit kicks off at QSNCC

Prayut welcomes youth delegation, as summit kicks off at QSNCC

MONDAY, NOVEMBER 14, 2022

Prime Minister Prayut Chan-o-cha welcomed representatives of the “Apec Voices of the Future”, who were at Government House to deliver their “youth declaration” on Monday.

Upon receiving their declaration, the PM said they are the “voices of the future” and the older generation should be their role models.

The premier also pointed out that this project has been running for several years now, and leaders from all countries should come up with policies for the younger population.

Prayut also called on Thai people to be good hosts and keep Bangkok clean during Apec 2022, as the country is welcoming delegates from many different countries.

He added that later in the day he will be checking out the Queen Sirikit National Convention Centre, where the Apec Summit is being hosted.

After speaking to reporters, he led the young delegation on a tour around Government House before posing for photos with them outside the Thai Khu Fa building.
 

Prayut welcomes youth delegation, as summit kicks off at QSNCC

Reporters said the premier appeared to be in a good mood and spoke playfully to the young people. When asked if he was particularly happy today, Prayut responded by saying he was happy every day.

As for preparations for the Apec Summit, he said, it is more than 90% ready because preparations have been made for years now.

As for what’s on the agenda at the summit, Prayut said there is nothing to be concerned about as many topics have already been discussed at the Asean Summit last week. He added that the Apec Summit will focus on the economy.

Prayut welcomes youth delegation, as summit kicks off at QSNCC

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Risk groups urged to get vaccinated amid surge in Covid-19 cases in eight provinces

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Risk groups urged to get vaccinated amid surge in Covid-19 cases in eight provinces

Risk groups urged to get vaccinated amid surge in Covid-19 cases in eight provinces

MONDAY, NOVEMBER 14, 2022

Thailand’s health authorities on Monday warned of soaring number of Covid-19 cases in eight tourist provinces, including Bangkok, and called on the “608” group — those 60 years old and above, and those with eight underlying health conditions — to get vaccinated

The director-general of the Department of Disease Control (DDC)Dr Thares Krasanairawiwong, said that Covid-19 cases in Thailand were up by 12.8 per cent compared to the previous week, but the number of patients with severe illness rose only slightly, while the fatality rate remained stable.
Since Covid-19 is considered a communicable disease under surveillance, it is expected to spread in small waves.

According to a National Health Security Office (NHSO) report, the number of patients admitted to hospitals has gone up in Bangkok and surrounding areas as well as in tourist provinces in the East and South amid an increase in travellers and activities.

From November 6 to 12, it was found that more than half of incubated patients and deaths had not been vaccinated or been given booster shots.

Dr Sophon Iamsirithaworn, DDC’s deputy director-general, encouraged those in “608” risk groups, including patients with underlying health conditions, people who are not fully vaccinated, elderly at the age of more than 60, and pregnant women, to admit themselves to a hospital if they are infected with the disease.

Risk groups urged to get vaccinated amid surge in Covid-19 cases in eight provinces

“Elderly people who are not fully vaccinated should stay at home. Family members who are at risk of being infected should avoid contact with the elderly. People ought to get inoculated as it takes more than four months after the last jab to prevent serious health conditions,” Dr Sophon suggested.

The Ministry of Health has prepared sufficient medicines, vaccines, and medical supplies, including LAAB (Long Acting Antibody), to handle the spread. Infirmaries across the country are welcoming people to receive vaccination for free.

Risk groups urged to get vaccinated amid surge in Covid-19 cases in eight provinces

Thailand showcases its BCG model in expo at QSNCC

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Thailand showcases its BCG model in expo at QSNCC

Thailand showcases its BCG model in expo at QSNCC

MONDAY, NOVEMBER 14, 2022

An exhibition on Thailand’s bio-circular-green (BCG) economic model opened alongside the Apec Economic Leaders’ Week on Monday to promote sustainable and inclusive growth.

The expo at the Queen Sirikit National Convention Centre (QSNCC) comprises three parts.

The first presents the BCG concept and its success stories in agriculture, industry and tourism sectors driven by relevant government agencies.

The second part showcases goods and products under the “BCG Heroes” campaign as well as Thailand’s candidature for Specialised Expo 2028 in Phuket, which aspires to address global dialogue on sustainability.

The last part exhibits the Thai private sector’s efforts and successes in promoting sustainable business practices.

At the opening ceremony, Prime Minister Prayut Chan-o-cha said Thailand would collaborate with global partners to create sustainability, preserve the environment and ensure food security.

He also pointed out that climate change and the environment are urgent issues that need to be tackled immediately.

Thailand showcases its BCG model in expo at QSNCC

“The Thailand BCG exhibition highlights the significance of the BCG model to develop a sustainable and inclusive economy,” he said.

He also thanked the curators for putting together a great, informative expo and called on all sectors to work together to achieve sustainable development goals.

Thailand showcases its BCG model in expo at QSNCC

Thailand adopted the BCG model as a new, sustainable approach to business and commerce, and it is the overarching thought behind the Apec 2022 theme of “Open. Connect. Balance”.

BCG is being highlighted as a core strategy for sustainable and inclusive growth in the Asia-Pacific region as Apec 2022 addresses challenges and contributes to global efforts towards the United Nations Sustainable Development Goals.

Thailand showcases its BCG model in expo at QSNCC
Thailand showcases its BCG model in expo at QSNCC
Thailand showcases its BCG model in expo at QSNCC

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Baht defies expectations by rising further on Tuesday

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Baht defies expectations by rising further on Tuesday

Baht defies expectations by rising further on Tuesday

TUESDAY, NOVEMBER 15, 2022

The baht opened at 35.71 to the US dollar on Tuesday, strengthening from Monday’s close of 35.94

The currency will likely move between 35.60 and 35.85 against the greenback during the day, Krungthai market strategist Poon Panichpibool said.

Poon said the baht has strengthened more than expected but the market is still cautious and foreign investors might gradually sell Thai stocks and bonds.

He advised to beware of volatility in the currency market if Chinese economic data is worse than expected, which would pressure the yuan to weaken soon after being buoyed by the easing of zero-Covid measures.

A weakening yuan would place downward pressure on the baht.

Poon said however that any baht weakening would be limited as the Thai currency is still being supported by gold transactions. He forecast the baht’s resistance level at 36 to 36.20 to the dollar and its support level at 37.50 to 37.60.

He also advised investors to use hedging tools such as options to manage risks in a highly volatile currency market.

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Senate approves executive decree for Finance Ministry to guarantee oil fund loans

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Senate approves executive decree for Finance Ministry to guarantee oil fund loans

Senate approves executive decree for Finance Ministry to guarantee oil fund loans

MONDAY, NOVEMBER 14, 2022

The Senate on Monday passed an executive decree that allows the Finance Ministry to provide loan guarantees of up to 150 billion baht to the Oil Fuel Fund.

The decree was approved by 187 senators while one voted against it and five others abstained.

The decree had secure a 239:166 approval in the House of Representatives on Wednesday.

Before the vote, Energy Minister Supattanapong Punmeechaow explained to the Senate that the Oil Fuel Fund needed the loans to gradually subsidise oil prices to prevent severe economic crisis.

He said Thailand was facing a double crises — increase in global oil prices and depreciation in the value of the baht — as a result the country was hit hard by very high oil prices.

Supattanapong said the government of Prime Minister Prayut Chan-o-cha had averted the impact on the people by gradually subsidising oil prices.

He added that the government realises concerns about the subsidy distorting market prices and that is why it was doing it gradually.

He said the government also took into account the ability to repay the loans and the government also strictly observed fiscal discipline.

Explaining to the Senate, Pornchai Jirakulpaisan, director of the Office of Policy and Strategy of the Oil Fuel Fund Office, said the government had already approved the loan plan.

He said the first loan for the oil fund would be 30 billion baht and would be advanced this year while the remaining 120 billion baht would be borrowed next year.

Both loans would be repaid in instalments over seven years.

Apec and its members

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MONDAY, NOVEMBER 14, 2022

Apec and its members | The Nation The Asia-Pacific Economic Cooperation (Apec) is an inter-governmental forum that promotes free trade across the Asia-Pacific region. Apec was founded in 1989 by 12 members, which included Thailand.Now, there are 21 members.

Apec has a combined population of more than 2.8 billion people.

The members together make up more than 60 per cent of the world gross domestic product.
Apec’s share of global trade is more than 47 per cent.
Here are some facts about the members that will participate in the annual Apec Economic Leaders’ M

Australia
Population 25,984,000 (53rd)
GDP US$1.748 trillion (13th)
GDP Per capita US$67,464 (11th)
Import US$267.013 billion 
Export US$318,287 billion

Brunei
Population 460,345 (175th)
GDP US$35.555 billion (124th)
GDP Per capita US$79,816 (29th)
Import US$6.355 billion 
Export US$6.880 billion

Canada
Population 38,929,902 (37th)
GDP US$2.221 trillion (8th)
GDP Per capita US$57,406 (14th)
Import US$509.774 billion  
Export US$476.044 billion 

Chile
Population 18,430,408 (66th)
GDP US$317.594 billion (45th)
GDP Per capita US$15,941 (62nd)
Import US$66.515 billion
Export US$79.789 billion

China
Population 1,410,539,758 (1st)
GDP US$20.256 trillion(2nd)
GDP Per capita US$14,340 (64th)
Import US$2.357 trillion 
Export US$2.723 trillion

Hong Kong
Population 7,291,600
GDP US$369.486 billion (42nd)
GDP Per capita US$49,850 (23rd)
Import US$606.251 billion
Export US$602.566 billion


Indonesia
Population 275,773,800 (4th)
GDP US$1.289 trillion (17th)
GDP Per capita  US$4,691(104th)
Import US$169.583 billion
Export US$181.713 billion

Japan
Population 124,214,766 (11th)
GDP US$4.301 trillion (3rd)
GDP Per capita US$34,358 (30th)
Import US$895.684 billion
Export US$894.082 billion
 

South Korea
Population 51,844,834 (28th)
GDP US$1.804 trillion (12th)
GDP Per capita US$34,994 (32nd)
Import US$541.023 billion
Export US$601.621 billion

Malaysia
Population 33,871,431[4] (43rd)
GDP  US$439.373 billion (34th)
GDP Per capita US$13,268 (66th)
Import US$185.271 billion 
Export US$206.954 billion


Mexico
Population 129,150,971 (10th)
GDP US$1.322 trillion (15th)
GDP Per capita US$10,405 (64th)
Import US$407.763 billion 
Export US$431.451 billion

New Zealand
Population 5,130,500 (121st)
GDP US$257.211 billion (50th)
GDP Per capita US$49,847 (23rd)
Import US$57.703 billion
Export US$57.452 billion

Papua New Guinea
Population 8,935,000 (98th)
GDP US$21.543 billion (110th)
GDP Per capita US$2,504
Import US$2.313 billion
Export US$2.834 billion

Peru
Population 32,275,736 (45th)
GDP US$240.346 billion (52nd)
GDP Per capita US$7,034 (94th)
Import US$42.629 billion
Export US$43.118 billion

Philippines
Population 114,597,229 (12th)
GDP US$402.638 billion (32nd)
GDP Per capita US$3,646 (118th)
Import US$119.243 billion
Export US$91.052 billion

Russia
Population 145,864,296
GDP US$2.133 trillion (9th)
GDP Per capita US$14,665 (80th)
Import US$305.005 billion
Export US$378.635 billion

Singapore
Population 5,637,000 (115th)
GDP US$424.431 billion (37th)
GDP Per capita US$79,576 (11th)
Import US$490.694 billion
Export US$599.216 billion

Taiwan
Population 23,894,394 (56th)
GDP US$828.659 billion (21st)
GDP Per capita US$35,513 (29th)
Import US$285.820 billion 
Export US$330.000 billion

ThaiLand
Population 69,648,117 (20th)
GDP US$534.758 billion (28th)
GDP Per capita US$7,631 (89th)
Import US$233.332 billion
Export US$258.072 billion

United States of America
Population 331,893,745
GDP US$25.03 trillion (1st)
GDP Per capita US$75,179 (8th)
Import US$2.774 trillion
Export US$2.123 trillion

Vietnam
Population 103,808,319 (16th)
GDP US$408.947 billion (39th)
GDP Per capita US$4,122 (139th)
Import US$279.836 billion 
Export US$287.762 billion

GULF posts a slight decline in core profit YoY in Q3/2022 due to the sharp rise in natural gas prices

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GULF posts a slight decline in core profit YoY in Q3/2022 due to the sharp rise in natural gas prices

GULF posts a slight decline in core profit YoY in Q3/2022 due to the sharp rise in natural gas prices

MONDAY, NOVEMBER 14, 2022

GULF reported the financial results for Q3/22 with a core profit of THB 2,167 million, a 6% decrease YoY due to the spike in natural gas prices.

Gulf Energy Development Plc. (GULF) reported the financial results for Q3/22 with total revenues of THB 24,275 million, representing an increase of 76% year-on-year (YoY). The growth was driven mostly by the revenue recognition of Gulf SRC’s (GSRC) units 2-3 with a total installed power generation capacity of 1,325 MW, which began commercial operation in Q4/21 and Q1/22, respectively. Another factor is the increased revenue from the Borkum Riffgrund 2 offshore wind power project (BKR2) in Germany as a result of the average electricity prices, which almost doubled from €184/MWh to €328/MWh. Additionally, GULF recorded higher revenue from the 19 gas-fired SPPs due to higher electricity selling prices in tandem with the rise in natural gas prices.

In Q3/22, gross profit from sales was THB 4,466 million, an increase of 55% YoY or THB 1,584 million. However, gross profit margin decreased to 20.6%, down from 24.6% in Q3/21 due to the rise in average natural gas costs by 116% YoY, from 268.61 THB/MMBTU in Q3/21 to 579.13 THB/MMBTU this quarter, while the average Ft rate increased by 0.6298 THB/kWh (from -0.1532 THB/kWh to 0.4766 THB/kWh). In addition, the SPPs under GMP Group, which include GBP, GNPM, and GNRV2 power plants, as well as an IPP under GJP Group, the GUT power plant, had a major maintenance shutdown (B Inspection) during Q3/22.

GULF posts a slight decline in core profit YoY in Q3/2022 due to the sharp rise in natural gas prices

GULF recorded a core profit of THB 2,167 million in this quarter, a decrease of THB 126 million or 6% YoY, primarily due to the aforementioned spike in natural gas prices, along with the decrease in share of profit from INTUCH of THB 556 million (in Q3/21, GULF recognized dividend income from INTUCH of THB 1,667 million, while in Q3/22, the company changed its accounting method for INTUCH to share of profit, which was recorded at THB 1,111 million). In addition, PTT NGD posted a loss of THB 221 million in this quarter due to lower fuel oil prices and higher gas prices (PTT NGD’s revenue structure is linked to fuel oil prices while costs are linked to gas prices). Nevertheless, GSRC recorded higher profit from the commercial operation of units 2-3 and BKR2 had improved performance this quarter, which resulted in the overall profit to weaken just slightly.

Net profit attributable to the parent company, which takes into account the impact of the FX rate, was THB 1,087 million, a decrease of 32% YoY from THB 1,588 million in Q3/22 as a result of the Thai Baht depreciation against the US Dollar by 7.3%, from 35.46 THB/USD in Q2/22 to 38.07 THB/USD in Q3/22, while the Thai Baht depreciated by only 5.8% against the US Dollar in Q3/21 compared to Q2/21. Nonetheless, the recording of such transaction is an accounting transaction, which does not impact the cash flow and performance of the company.

As of September 30, 2022, GULF had a net interest-bearing debt to equity ratio of 1.96 times, a slight increase from 1.89 times at the end of June 2022. This was mainly due to the THB 35,000 million in debentures that GULF issued in August 2022 for business expansion and partial loan repayment.

GULF posts a slight decline in core profit YoY in Q3/2022 due to the sharp rise in natural gas prices

Ms. Yupapin Wangviwat, Chief Financial Officer, GULF, stated, “This year’s performance is still in line with the target, despite the steep rise in natural gas prices. GULF received minimal impact as industrial customers account for only 13-14% of GULF Group’s overall electricity sales volume. Moreover, GULF invests in various types of businesses, both domestically and internationally, such as the renewable energy business overseas, including the BKR2 wind power project in Germany and solar farm projects in Vietnam, the gas-fired power generation business overseas, such as the Jackson Generation power project in the United States, as well as the investment in INTUCH Group. This is to diversify revenue streams, which results in stable earnings in the long term for GULF.”

GULF posts a slight decline in core profit YoY in Q3/2022 due to the sharp rise in natural gas prices

In Q4/22, earnings will grow from GSRC unit 4 (662.5 MW), which began commercial operation on October 1, 2022, and the BKR2 wind power project, which will reach its peak season in the fourth quarter. GULF will also record a full-quarter share of profit from the 3 wind power projects under Gulf Gunkul Corporation. For 2023 results, earnings are anticipated to increase significantly from the commercial operation of the Gulf Pluak Daeng (GPD) project, which is an IPP power plant with a total installed power generation capacity of 2,650 MW, where two units, totaling 1,325 MW, are scheduled to commence commercial operation. GULF also expects to record profit from the 1,200-MW gas-fired Jackson Generation power project in the United States from Q1/23 onwards.

Blackpink’s Lisa bags MTV Europe award as best K-Pop artist

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Blackpink's Lisa bags MTV Europe award as best K-Pop artist

Blackpink’s Lisa bags MTV Europe award as best K-Pop artist

MONDAY, NOVEMBER 14, 2022

Thailand’s very own K-pop princess, Lalisa “Lisa” Manoban, won the “Best K-Pop” award at the 2022 MTV Europe Music Awards (EMA) in Dusseldorf, Germany, on Sunday.

This is her second “Best K-Pop” award this year, after winning her first at the 2022 MTV Video Music Awards in New Jersey, US, in August for her solo single “Lalisa”.

She is the first solo K-Pop artist to win these honours.

Her band, “Blackpink”, also won the “Best Metaverse Performance” award for their virtual concert via the PUBG Mobile game.

Blackpink's Lisa bags MTV Europe award as best K-Pop artist

Lisa, who is on tour in the US and was unable to attend the ceremony, received the award virtually.

In her acceptance speech, she thanked her fans for supporting her first solo album as well as the latest Blackpink album. She said this support “meant a lot to her”. Lisa’s acceptance speech can be watched at https://twitter.com/i/status/1591903958481915904

Other K-pop bands also bagged several awards at the EMA this year, including BTS (Biggest Fans), Tomorrow X Together (Best Asian Act) and Seventeen (Best New Act and Best Push Artist).

Blackpink's Lisa bags MTV Europe award as best K-Pop artist
Blackpink's Lisa bags MTV Europe award as best K-Pop artist

However, the true “Queen of EMA 2022” was none other than pop superstar Taylor Swift, who went home with Best Artist, Best Video, Best Pop and Best Longform Video for her “All Too Well” 10-minute music video.

Blackpink's Lisa bags MTV Europe award as best K-Pop artist

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Ronaldo tells talk show he feels betrayed by Manchester United

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Ronaldo tells talk show he feels betrayed by Manchester United

Ronaldo tells talk show he feels betrayed by Manchester United

MONDAY, NOVEMBER 14, 2022

Reuters

Manchester United’s Cristiano Ronaldo says that the club have betrayed him and that he is being forced out, while he has no respect for manager Erik ten Hag.

Ronaldo rejoined United from Juventus for a second spell at Old Trafford in August 2021 on a two-year deal, returning to the club where he won eight major trophies from 2003-2009.
 

In an interview with Piers Morgan for TalkTV, released on Sunday, Ronaldo was asked whether United’s hierarchy were trying to push him out of the club.

“Yes, not only the coach (Ten Hag), but another two or three guys around the club. I felt betrayed,” he said.

“Yes I feel betrayed, and I felt some people don’t want me here, not just this year, but last year too.”

Last month, Ten Hag said Ronaldo refused to come on as a substitute against Tottenham Hotspur when the forward walked down the tunnel with a few minutes of the match remaining after being left on the bench.

He was then not part of the squad that faced Chelsea the following Saturday.

The 37-year-old forward, who will captain Portugal at the World Cup in Qatar, said of Ten Hag: “I don’t have respect for him because he doesn’t show respect for me. If you don’t respect me, I’m never gonna have respect for you.”

United did not immediately respond when contacted by Reuters for comment. After the Tottenham game, Ten Hag said that Ronaldo remained “an important player in the squad”

Ronaldo tells talk show he feels betrayed by Manchester UnitedRonaldo tells talk show he feels betrayed by Manchester United

Ronaldo said Manchester United did not support him when his daughter was taken to hospital in July. He said the club doubted him and showed a lack of empathy when he did not arrive on time for pre-season training.

“I think the fans should know the truth,” he said.

“I want the best for the club. This is why I came to Manchester United.

“But you have some things inside that don’t help (us) reach the top level as City, Liverpool and even now Arsenal… a club with this dimension should be top of the tree in my opinion and they are not, unfortunately.”

Ronaldo’s first spell was under former United manager Alex Ferguson, who retired in 2013. The Portuguese said his view of the club is shared by Ferguson.

“The progress was zero Since Sir Alex (Ferguson) left, I saw no evolution in the club. Nothing had changed,” Ronaldo said.

“He knows better than anybody that the club is not on the path they deserve to be.

“He knows. Everyone knows. The people who don’t see that… it’s because they don’t want to see, they are blind.”

Ronaldo was also critical of the club’s decision last season to replace manager Ole Gunnar Solskjaer, a former team mate of the Portuguese, with Ralf Rangnick.

Rangnick had left his role as head of sport and development at Russian side Lokomotiv Moscow to take over at Old Trafford.

“After the club sacked Ole, they bring sporting director Ralf Rangnick, which is something nobody understands,” Ronaldo said.

“This guy, he is not even a coach. A big club like Manchester United brings a sporting director surprised not only me but all the world.”
 

Reuters