KL Rahul after scoring a century with Virat Kohli during the Asia Cup Super Four match between India and Pakistan on September 11, in Colombo, Sri Lanka. Getty Images
KL Rahul after scoring a century with Virat Kohli during the Asia Cup Super Four match between India and Pakistan on September 11, in Colombo, Sri Lanka. Getty Images
KL Rahul after scoring a century with Virat Kohli during the Asia Cup Super Four match between India and Pakistan on September 11, in Colombo, Sri Lanka. Getty Images
KL Rahul after scoring a century with Virat Kohli during the Asia Cup Super Four match between India and Pakistan on September 11, in Colombo, Sri Lanka. Getty Images


India's terrific cricket win, courtesy of Virat Kohli and K L Rahul


The National
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September 15, 2023

With reference to the report India vs Pakistan: Virat Kohli and KL Rahul tons set up crushing 228-run Asia Cup 2023 win (September 11): At the recent match India and Pakistan played at Colombo, Virat Kohli and K L Rahul were in super form. Fans of both Kohli and Rahul witnessed a wonderful game. Earlier, Kohli and Rahul demonstrated a batting masterclass, as The National reported, when they hit tons in a record-breaking double century stand. Virat Kohli is a consistent batsmen and Rahul is known for his powerful play in T20. Good captaincy too made this match a grand success for India and a pleasure to watch. Kudos to the players.

K Ragavan, Bengaluru, India

US Republicans and a new generations of leaders

With regard to the piece Mitt Romney: Utah Senator says he won’t seek re-election (September 13): It's farewell to the Republicans in Name Only, or Rinos. Let's start being honest about the Republican Party. If we had to name one thing the Right has “conserved” over the past 60 years, one might be hard-pressed to find much. The conservative ideology is officially over and it’s time to begin an era of anti-communism, that is, a political class of action and leadership.

Tom Langston, Memphis, Tennesse, US

There's more than one type of lung cancer

With reference to Nicky Harley's article More than a million lives saved from cancer since mid-1980s due to UK's medical advances (September 1): Lung cancer is the third riskiest form of cancer. It affects millions of people around the world and is caused due to abnormal cell division in the lungs. When the mutated or damaged cells divide themselves abnormally, they form masses or tumours of tissue, which hinder the functioning of the lungs. Lung cancer often begins in the airway, bronchi or bronchioles or in the small air sacs, alveoli. Lung cancer consists of two major types: non-small cell lung cancer and small cell lung cancer. Each of these have their own subtypes and treatment options differ for both. Diagnosed in time and knowing the differences and available treatment options can be invaluable.

Dr Nandish Jeevangi, consultant oncologist, Kalaburagi, India

Is Miss Universe a relevant contest?

About David Tusing's write-up No age limit for Miss Universe contestants for first time in history (September 13): They should also do away with body size as a requirement to enter. There are plenty of plus-size women who are attractive. It was good to see that Miss Universe Nepal crowned its first ever plus-size winner.

Michelle Paulas, Abu Dhabi

It's an outdated concept that should be scrapped. A woman's value should not be based on her appearance.

Donna Don, Dubai

RESULTS

5pm: Maiden (PA) Dh80,000 1,600m
Winner: Omania, Saif Al Balushi (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Conditions (PA) Dh85,000 1,600m
Winner: Brehaan, Richard Mullen, Ana Mendez
6pm: Handicap (TB) Dh100,000 1,600m
Winner: Craving, Connor Beasley, Simon Crisford
6.30pm: The President’s Cup Prep (PA) Dh100,000 2,200m
Winner: Rmmas, Tadhg O’Shea, Jean de Roualle
7pm: Wathba Stallions Cup (PA) Dh70,000 1,200m
Winner: Dahess D’Arabie, Connor Beasley, Helal Al Alawi
7.30pm: Handicap (PA) Dh80,000 1,400m
Winner: Fertile De Croate, Sam Hitchcott, Ibrahim Aseel

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

Results

5.30pm: Maiden (TB) Dh82,500 (Turf) 1,400m; Winner: Mcmanaman, Sam Hitchcock (jockey), Doug Watson (trainer)

6.05pm: Handicap (TB) Dh87,500 (T) 1,400m; Winner: Bawaasil, Sam Hitchcott, Doug Watson

6.40pm: Handicap (TB) Dh105,000 (Dirt) 1,400m; Winner: Bochart, Fabrice Veron, Satish Seemar

7.15pm: Handicap (TB) Dh105,000 (T) 1,200m; Winner: Mutaraffa, Antonio Fresu, Musabah Al Muhairi

7.50pm: Longines Stakes – Conditions (TB) Dh120,00 (D) 1,900m; Winner: Rare Ninja, Royston Ffrench, Salem bin Ghadayer

8.25pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m; Winner: Alfareeq, Antonio Fresu, Musabah Al Muhairi

9pm: Handicap (TB) Dh105,000 (T) 2,410m; Winner: Good Tidings, Antonio Fresu, Musabah Al Muhairi

9.35pm: Handicap (TB) Dh92,500 (T) 2,000m; Winner: Zorion, Abdul Aziz Al Balushi, Helal Al Alawi

 

UAE players with central contracts

Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.

Barbie
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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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.”

Match info

Champions League quarter-final, first leg

Liverpool v Porto, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

Updated: September 15, 2023, 3:44 AM