India's Zaheer Khan and Yuvraj Singh played a big part in the rise of the Indian team in the ICC rankings.
India's Zaheer Khan and Yuvraj Singh played a big part in the rise of the Indian team in the ICC rankings.
India's Zaheer Khan and Yuvraj Singh played a big part in the rise of the Indian team in the ICC rankings.
India's Zaheer Khan and Yuvraj Singh played a big part in the rise of the Indian team in the ICC rankings.

Australia reeled in by India and South Africa


Kumar Shyam
  • English
  • Arabic

As the year draws to a close, the Indian captain Mahendra Singh Dhoni managed to continue his reign at the top of the ICC's one-day cricket rankings ahead of Australia's Mike Hussey. His teammate Yuvraj Singh was in the sixth spot while Sachin Tendulkar was 12th. Despite being on the verge of losing to South Africa, Australia are still the top-ranked team in both formats of the game. However, India are not far behind in second place while South Africa are third. The domination of yesteryears seems to be fading.

The British newspaper, The Guardian, published its world Test team of the year recently with six Indians, three South Africans and two English players making the grade, but not one Australian. South Africa's Graeme Smith was chosen as captain. Another newspaper, The Sunday Telegraph, also named the Indians as the Team of the Year while Tendulkar surpassing Brian Lara as the highest Test-run-getter was voted the Feat of the Year. Journalist Steve James wrote: "Their 2-0 Test series victory over Australia officially ended their opponents' era of relentless domination. And then England suffered. Talent oozes from their every pore.

"Retiring legends are being replaced with astonishing ease. There is depth in every department, and in Dhoni they possess not just a wonderful leader but an impressive man too." Zaheer Khan, who is one of the six Indians in the newspaper's team, revealed he believes the reason for his success was a shorter run-up. "I think a major difference in my career has been my readiness to cut down on my run-up. My reduced run-up, without sacrificing on my leap at the point of delivery, has improved my rhythm and fitness," Zaheer said.

Meanwhile, New Zealand can rise to fourth place behind Australia (131), South Africa and India (119 each) in the Test rankings. However, they could still slip to as low as eighth, depending on the outcome of their five-match series against West Indies. Daniel Vettori's side sit in fifth place but a 5-0 series win will lift them above Pakistan. However, a defeat would mean the Kiwis conceding 11 rating points to the West Indies. This will put both the teams level on 102 but Chris Gayle's side will be placed higher than the Kiwis in seventh when the ratings are calculated beyond the decimal point.

kshyam@thenational.ae

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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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The Brutalist

Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

Rating: 3.5/5

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Profile Periscope Media

Founder: Smeetha Ghosh, one co-founder (anonymous)

Launch year: 2020

Employees: four – plans to add another 10 by July 2021

Financing stage: $250,000 bootstrap funding, approaching VC firms this year

Investors: Co-founders

Brief scoreline:

Wales 1

James 5'

Slovakia 0

Man of the Match: Dan James (Wales)

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Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

Company%20profile
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Meydan card

6.30pm: Al Maktoum Challenge Round-1 (PA) Group 1 US$65,000 (Dirt) 1,600m
7.05pm: Conditions (TB) $100,000 (Turf) 1,400m
7.40pm: UAE 2000 Guineas Trial (TB) $100,000 (D) 1,600m
8.15pm: Handicap (TB) $175,000 (T) 1,200m
8.50pm: Al Maktoum Challenge Round-1 (TB) Group 2 $350,000 (D) 1,600m
9.25pm: Handicap (TB) $175,000 (D) 1,900m
10pm: Handicap (TB) $135,000 (T) 1,600m

SCORES

Yorkshire Vikings 144-1 in 12.5 overs
(Tom Kohler 72 not out, Harry Broook 42 not out)
bt Hobart Hurricanes 140-7 in 20 overs
(Caleb Jewell 38, Sean Willis 35, Karl Carver 2-29, Josh Shaw 2-39)

Famous left-handers

- Marie Curie

- Jimi Hendrix

- Leonardo Di Vinci

- David Bowie

- Paul McCartney

- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Last-16

France 4
Griezmann (13' pen), Pavard (57'), Mbappe (64', 68')

Argentina 3
Di Maria (41'), Mercado (48'), Aguero (90 3')

OIL PLEDGE

At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.

Brief scoreline:

Tottenham 1

Son 78'

Manchester City 0