• Australia players winning the T20 World Cup in Dubai on Sunday, November 4, 2021. Chris Whiteoak / The National
    Australia players winning the T20 World Cup in Dubai on Sunday, November 4, 2021. Chris Whiteoak / The National
  • Mitchell Marsh celebrates winning the T20 World Cup final. Chris Whiteoak / The National
    Mitchell Marsh celebrates winning the T20 World Cup final. Chris Whiteoak / The National
  • Australia's David Warner scored a fine fifty to set up victory over New Zealand in the T20 World Cup final at the Dubai International Stadium. Chris Whiteoak / The National
    Australia's David Warner scored a fine fifty to set up victory over New Zealand in the T20 World Cup final at the Dubai International Stadium. Chris Whiteoak / The National
  • Australia's Mitchell Marsh scored a superb fifty against New Zealand in the T20 World Cup final on Sunday. Chris Whiteoak / The National
    Australia's Mitchell Marsh scored a superb fifty against New Zealand in the T20 World Cup final on Sunday. Chris Whiteoak / The National
  • David Warner celebrates reaching fifty at the Dubai International Stadium. Chris Whiteoak / The National
    David Warner celebrates reaching fifty at the Dubai International Stadium. Chris Whiteoak / The National
  • New Zealand captain Kane Williamson held the innings together with a fifty. Chris Whiteoak / The National
    New Zealand captain Kane Williamson held the innings together with a fifty. Chris Whiteoak / The National
  • Australia's Steve Smith fields at the boundary. Chris Whiteoak / The National
    Australia's Steve Smith fields at the boundary. Chris Whiteoak / The National
  • New Zealand's Kane Williamson is caught on the boundary by Steve Smith. Chris Whiteoak / The National
    New Zealand's Kane Williamson is caught on the boundary by Steve Smith. Chris Whiteoak / The National
  • Josh Hazlewood was the pick of the bowlers, taking 3-16. Chris Whiteoak / The National
    Josh Hazlewood was the pick of the bowlers, taking 3-16. Chris Whiteoak / The National
  • Australia's Glenn Maxwell at the Dubai International Stadium. Chris Whiteoak / The National
    Australia's Glenn Maxwell at the Dubai International Stadium. Chris Whiteoak / The National

New Zealand postpone limited-overs Australia tour due to border uncertainty


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  • Arabic

New Zealand’s short white ball cricket tour to Australia, which was to begin later this month, has been postponed because of uncertainty over the team’s return home.

The Black Caps were to leave within days to play Australia in three one-day internationals from January 30 and in a one-off Twenty20 match on February 8.

When the tour was scheduled, New Zealand Cricket anticipated the introduction of less restricted travel between Australia and New Zealand would mean the team wouldn’t have to isolate on their return. But the spread of the omicron variant in Australia, and its threat to New Zealand, has caused the government to defer a move to quarantine-free travel for New Zealanders returning home.

New Zealand Cricket hadn’t booked places for the team in managed isolation and hasn’t since been able to secure any. The government had planned to make new places available this week but has also deferred the release of new isolation vacancies.

NZC worked with Cricket Australia on a number of alternatives, including extending the tour in the hope isolation places might be available later. It decided Wednesday the tour could not proceed with so much still uncertain.

"NZC and CA had explored a proposal to expand the tour and to push out the date on which the squad might return to New Zealand in the hope that might be more achievable for the government,” NZC chief executive David White said. “We just ran out of time unfortunately, we couldn’t receive the certainty from the Government so we had no choice.”

Discussions over re-scheduling the tour are continuing.

The New Zealand team would not have contained any Test players who were to remain in New Zealand to prepare for an upcoming Test series against South Africa.

The six points:

1. Ministers should be in the field, instead of always at conferences

2. Foreign diplomacy must be left to the Ministry of Foreign Affairs and International Co-operation

3. Emiratisation is a top priority that will have a renewed push behind it

4. The UAE's economy must continue to thrive and grow

5. Complaints from the public must be addressed, not avoided

6. Have hope for the future, what is yet to come is bigger and better than before

The biog

Favourite film: Motorcycle Dairies, Monsieur Hulot’s Holiday, Kagemusha

Favourite book: One Hundred Years of Solitude

Holiday destination: Sri Lanka

First car: VW Golf

Proudest achievement: Building Robotics Labs at Khalifa University and King’s College London, Daughters

Driverless cars or drones: Driverless Cars

How Islam's view of posthumous transplant surgery changed

Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.

Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.

The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.

One school of thought viewed the removal of organs after death as equally impermissible.

That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.

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.”

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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Updated: January 19, 2022, 9:44 AM