Dubai Basketball recorded their biggest win of the season so far by thrashing Croatia’s Cibona 102-74 on Saturday night, taking their ABA League record to 5-1.
Dubai BC head coach, Jurica Golemac, could not have asked for a better performance from his players as they dominated the game all the way from the tip-off to the final buzzer in Zagreb.
After Ahmet Duverioglu converted both of his free-throws attempts in the first 13 seconds, the visitors never looked back, closing out the first quarter with a healthy 35-17 advantage, making Dubai one of only a few teams to score over 30 points in a single quarter of play this season.
Hosts Cibona struggled without their regular starting point guards, Roko Rogic and Kreso Radovcic, and were unable to slow down Dubai’s aggressive game or stem their scoring.
By the time the third quarter had ended, Dubai held a staggering 29-point lead. However, despite the score being at a healthy 81-52 they continued to pour forwards, eventually breaking the 100-point barrier late into the final quarter thanks to a JaCorey Williams two-pointer in the paint.
It marked the first time in the franchise’s young history – the team is debuting in the ABA League this season – that they would eclipse the century mark. Williams, who has scored double digits in three of six games this season, emerged from the game in Croatia second in the overall 'points in the paint' rankings.
Former NBA star Davis Bertans put up a game-high 17 points, doing most of his damage from beyond the arc, shooting five of eight from three-point territory. Bertans rose to second in the three-point shots made, trailing only Split’s Jordano Antonio.
Thirdy Ravena was stellar on both sides of the ball in over 10 minutes of action, recording his first steal, assist, and rebound of the season. Ravena, who has quickly emerged as a Dubai BC fan favourite, kept intense pressure on Cibona, playing a major role in holding them to just 74 points.
The victory lifts Dubai Basketball up to third spot in the ABA League standings, behind Montenegro's Buducnost and leaders Partizan Mozzart from Serbia, who they face on Sunday, November 10.
Golemac had nothing but praise for his team. He said: “I congratulate my players for playing really well. We achieved what we came for, played a great game and now we are going to analyse what we can do better and move on to the next game.
“Our players understand that every move and every possession is important and they all share the same vision of wanting to not only win but also be competitive in each game. As a coach, it’s a pleasure to be working with them.”
Dubai Basketball are again on the road next weekend when they travel to Montenegro to face Studentski Centar Derby on Saturday, November 2 (10pm UAE time).
After that is the trip to Partizan before the team's next home game against KRKA at the Coca-Cola Arena on November 17.
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Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Leap of Faith
Michael J Mazarr
Public Affairs
Dh67
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.”
How to donate
Text the following numbers:
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SPECS
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Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
First Person
Richard Flanagan
Chatto & Windus
FIXTURES
Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)
Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)
Friday, February 1
Final, Zayed Sports City Stadium (6pm)
PROFILE BOX
Company name: Overwrite.ai
Founder: Ayman Alashkar
Started: Established in 2020
Based: Dubai International Financial Centre, Dubai
Sector: PropTech
Initial investment: Self-funded by founder
Funding stage: Seed funding, in talks with angel investors
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
UAE currency: the story behind the money in your pockets
