Australia want to end Tri Nations title drought


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Australia head into their decider with New Zealand today motivated by the chance to end a 10-year Tri Nations drought.

Since 2001, when Toutai Kefu scored in the last minute in Sydney to seal victory over the All Blacks and a second consecutive Tri Nations series win, Australia have suffered through a decade as the competition's third-best side.

A day out from their opportunity to turn the tide on home turf at Suncorp Stadium, the freshly promoted captain, James Horwill, made clear how determined his side are to end their streak as also-rans.

"The result is what we're looking for and that is to win the Tri Nations. We haven't won it for a while, and as a team I think it'd be fantastic for us to get our hands on that trophy," Horwill said yesterday.

"We want as much silverware as possible in the trophy cabinet.

"That's what we're playing for tomorrow night - the winner takes the spoils, so that's all we're focused on.

"It's probably the biggest tournament in the world, bar what's happening in a World Cup year, so it's a big tournament for us.

"We haven't had our hands on that trophy for 10 years, and that's a long drought not to have your hands on a trophy that's being competed for by three teams."

Both Horwill and the openside flanker, David Pocock, identified matching physicality at the breakdown and providing clean ball as key to achieving the upset victory. Blown out of the contest by an early onslaught from the All Blacks in their most recent Bledisloe tussle at Eden Park, the Wallabies have primed themselves to match muscle and commitment through the traditional softening-up period.

"In the whole tournament, we've seen how important those first 20 minutes are and how physical they've been, so that's going to be the key for us," Pocock said.

The Australians who take to the field this weekend will be playing for their World Cup spots and not just the Tri Nations trophy, according to the tight-head Ben Alexander.

"The moment that you think your spot is assured is the moment you'll start slipping backwards, and you'll get replaced," he said.

"That was the depth that [coach] Robbie [Deans] looked to build over the last few years. That initially probably wasn't there, five or so years ago. And it's not just the front row, it's across the whole paddock.

"If you don't perform on Saturday, you'll be replaced quick-sticks, because we have the depth and we have the players to replace you."

Graham Henry, New Zealand's coach, is refusing to view the encounter as a pre-cursor to what might happen in the World Cup.

"Frankly, if you look at history, it means nothing," he said.

"We played France in France before the last World Cup, won by 40-odd points, gave them a hiding, and got beaten in the quarter-final.

"It's got some significance, but I don't think it's great.

"We'd like to win, then you have a bit more peace on Sunday. That's what this is all about.

"You go into these contests, play good footy and hopefully do the business. At the end of the day does it tilt the balance in someone's favour to win the Rugby World Cup? I don't think so."

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

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4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.

5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.

6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security

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Day             Indian Rs (Dh)        

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Friday         280.25m (14.12m)

Saturday     220.75m (11.21m)

Sunday       170.25m (8.58m)

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(Figures in millions, approximate)

The years Ramadan fell in May

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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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