Alam is left behind by Pakistan


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DUBAI // The Pakistan cricket team will arrive in the Emirates for their two-match Twenty20 series against England in disarray with Intikhab Alam, their coach, left at home to face an inquiry into their disastrous tour of Australia. Pakistan were whitewashed in all three formats of the game in Australia, losing three Test matches, five one-day internationals and a Twenty20, and the result has prompted calls from former players and fans for heads to roll.

Iqbal Qasim, the chief of selectors, has already resigned, but Alam, having accepted "full responsibility" for the defeats, is determined to continue and face the inquiry committee set up by the Pakistan Cricket Board (PCB) to probe the debacle. The six-member inquiry committee, which includes Wasim Akram, the former Pakistan captain and fast bowling great, has been asked to submit a detailed report before the end of the month on the causes behind the team's poor show in Australia.

"The committee will hold its first meeting by Friday and decide on a course of action on how to conduct the probe and when to submit its findings to the board," said Wasim Bari, the PCB's chief operating officer. As Alam stays in Pakistan to answer the inquiry committee, Ijaz Ahmed, the former Test batsman will take the responsibilities of batting and fielding coach for the two games against England, scheduled at the Dubai Sports City Cricket Stadium for February 19 and 20.

In addition to Alam, Pakistan will also be travelling without six of the players who were on the tour of Australia. Shahid Afridi is in the 14-man squad but will not play the first match due to a two-match ban for ball tampering and Shoaib Malik will instead lead the team. Mohammed Asif will not make the trip as the fast bowler is barred from entering the UAE after being caught carrying opium on a previous visit, while Mohammed Aamer, their young pace sensation, is absent due to a groin injury.

The batsmen Kamran Akmal and Salman Butt and bowler Rao Iftikhar have been dropped after their poor show in Australia. Abdul Razzaq, the all-rounder, and Yasir Arafat are recalled, while two young pace bowlers Wahab Riaz and Mohammad Talha will get their first opportunity to impress. The PCB, meanwhile, have ruled out any further action against Afridi for the ball-tampering incident, which was described as one of cricket's darkest moments by Alam. He appeared to bite the ball during the final one-day game against Australia.

"We can't penalise him again as he has already been banned for two matches by the ICC," said Ijaz Butt, the PCB chairman. "There is no doubt what he did was totally unacceptable and brought a bad name to the team." The squad: Shoaib Malik (captain), Imran Nazir, Imran Farhat, Khalid Latif, Umar Akmal, Shahid Afridi, Yasir Arafat, Abdul Razzaq, Sarfraz Ahmed, Umar Gul, Muhammad Talha, Fawad Alam, Wahab Riaz, Saeed Ajmal.

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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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50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias

Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match

WWE World Heavyweight ChampionshipAJ Styles (champion) v Shinsuke Nakamura

Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

United States Championship Jeff Hardy (champion) v Jinder Mahal

SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos

Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt

Casket match The Undertaker v Rusev

Singles match John Cena v Triple H

Cruiserweight Championship Cedric Alexander v Kalisto

RESULTS

6.30pm: Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m
Winner: Brraq, Adrie de Vries (jockey), Jean-Claude Pecout (trainer)

7.05pm: Handicap (TB) Dh102,500 (D) 1,200m
Winner: Taamol, Connor Beasley, Ali Rashid Al Raihe.

7.40pm: Handicap (TB) Dh105,000 (Turf) 1,800m
Winner: Eqtiraan, Connor Beasley, Ali Rashid Al Raihe.

8.15pm: UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
Winner: Soft Whisper, Pat Cosgrave, Saeed bin Suroor.

9.50pm: Handicap (TB) Dh105,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer.

9.25pm: Handicap (TB) Dh95,000 (T) 1,000m
Winner: Etisalat, Sando Paiva, Ali Rashid Al Raihe

If you go

The flights

There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.

The trip

Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.

The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.

 

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