• LONDON, ENGLAND - JULY 12: Jasprit Bumrah of India leaves the field after taking 6 wickets during the 1st Royal London Series One Day International between England and India at The Kia Oval on July 12, 2022 in London, England. (Photo by Dan Mullan / Getty Images)
    LONDON, ENGLAND - JULY 12: Jasprit Bumrah of India leaves the field after taking 6 wickets during the 1st Royal London Series One Day International between England and India at The Kia Oval on July 12, 2022 in London, England. (Photo by Dan Mullan / Getty Images)
  • India opener Rohit Sharma hits a six on his way to an unbeaten 76. His knock came off 58 balls and included seven fours and five sixes. Reuters
    India opener Rohit Sharma hits a six on his way to an unbeaten 76. His knock came off 58 balls and included seven fours and five sixes. Reuters
  • India opener Shikhar Dhawan makes his ground at The Oval. PA
    India opener Shikhar Dhawan makes his ground at The Oval. PA
  • India captain Rohit Sharma plays a shot past England wicketkeeper Jos Buttler. AFP
    India captain Rohit Sharma plays a shot past England wicketkeeper Jos Buttler. AFP
  • India's Shikhar Dhawan on his way to an unbeaten 31. Reuters
    India's Shikhar Dhawan on his way to an unbeaten 31. Reuters
  • India's Suryakumar Yadav catches the ball to claim the wicket England captain Jos Buttler. AFP
    India's Suryakumar Yadav catches the ball to claim the wicket England captain Jos Buttler. AFP
  • England's Brydon Carse is bowled by Jasprit Bumrah for 15. Getty
    England's Brydon Carse is bowled by Jasprit Bumrah for 15. Getty
  • England's Ben Stokes trudges off after a first-ball duck. AP
    England's Ben Stokes trudges off after a first-ball duck. AP
  • India bowler Jasprit Bumrah celebrates after taking the wicket of Brydon Carse. Getty
    India bowler Jasprit Bumrah celebrates after taking the wicket of Brydon Carse. Getty
  • India's Suryakumar Yadav, left, congratulates Prasidh Krishna after dismissing England's Moeen Ali for 14. AFP
    India's Suryakumar Yadav, left, congratulates Prasidh Krishna after dismissing England's Moeen Ali for 14. AFP
  • Jos Buttler top-scored for England with 30. PA
    Jos Buttler top-scored for England with 30. PA
  • Jasprit Bumrah of India celebrates after bowling Liam Livingstone. Getty
    Jasprit Bumrah of India celebrates after bowling Liam Livingstone. Getty
  • England's Liam Livingstone is bowled by Jasprit Bumrah. PA
    England's Liam Livingstone is bowled by Jasprit Bumrah. PA
  • England's Liam Livingstone reacts after being bowled by Jasprit Bumrah for a duck. AFP
    England's Liam Livingstone reacts after being bowled by Jasprit Bumrah for a duck. AFP
  • England opener Jason Roy is bowled by Jasprit Bumrah for a duck. Reuters
    England opener Jason Roy is bowled by Jasprit Bumrah for a duck. Reuters
  • India bowler Mohammed Shami, left, celebrates the dismissal of England's Craig Overton for eight. AP
    India bowler Mohammed Shami, left, celebrates the dismissal of England's Craig Overton for eight. AP
  • England batter Craig Overton is bowled out by India's Mohammed Shami. AP
    England batter Craig Overton is bowled out by India's Mohammed Shami. AP

Jasprit Bumrah and Rohit Sharma help India thrash England in opening ODI


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Jasprit Bumrah took 6-19 and Rohit Sharma cracked an unbeaten 76 as India thrashed England by 10 wickets in the first one-day international at The Oval on Tuesday.

Fast-bowler Bumrah's figures were the best of his career and helped skittle out Jos Buttler's side for just 110.

India captain Rohit, who won a good toss, then cracked 76 off 58 balls before Shikhar Dhawan (31 not out) cut Brydon Carse for four as the tourists finished on 114-0 with more than 31 overs to spare.

Victory gave 2023 World Cup hosts India a 1-0 lead in a three-match series that continues on the other side of London's River Thames at Lord's on Thursday.

“I thought we were undone by some fantastic bowling,” said Buttler. “Three of the top four are in the best form of their life, having played some fantastic Test cricket, and they are getting out on the wicket. Credit to India.”

Bumrah produced an opening burst of 4-9 in five overs against an England side featuring arguably their strongest batting line-up at this level since their 2019 World Cup final triumph.

England avoided the embarrassment of being dismissed for less than their record low completed ODI score of 86 all out against Australia at Old Trafford in 2001.

But an innings featuring four ducks in the top six – Jason Roy, Joe Root, Ben Stokes and Liam Livingstone were all out for a duck – saw England bowled out with nearly half of their 50 overs remaining.

Bumrah returned to clean-up Carse and David Willey to surpass his only other five-wicket haul of his 71-match ODI career, when he took 5-27 against Sri Lanka at Pallekelle five years ago.

Mohammed Shami, Bumrah's new-ball partner, took 3-31 in seven overs as he became the fastest Indian and joint-third fastest to 150 ODI wickets in matches played in his 80th appearance.

England's innings boasted just four double-figure contributions, with captain Buttler top-scoring with 30 and Willey managing 21.

The home side were bowled out in 25.2 overs for their lowest total against India in 50-over cricket. Their previous lowest – 125 – came at Jaipur in 2006.

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.”

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Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
 
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Namibia beat Oman by 52 runs
UAE beat Namibia by eight wickets
UAE v Oman - abandoned
Oman v Namibia - abandoned

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Updated: July 13, 2022, 12:15 PM