Sunrisers Hyderabad captain David Warner plays a shot. Noah Seelam / AFP
Sunrisers Hyderabad captain David Warner plays a shot. Noah Seelam / AFP
Sunrisers Hyderabad captain David Warner plays a shot. Noah Seelam / AFP
Sunrisers Hyderabad captain David Warner plays a shot. Noah Seelam / AFP

Bhuvneshwar Kumar takes 4-29 as David Warner’s Sunrisers Hyderabad easily chase down Gujarat Lions in IPL


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Gujarat Lions 135/8 (20/20 ov)

Sunrisers Hyderabad 137/0 (14.5/20 ov)

Sunrisers Hyderabad won by 10 wickets (with 31 balls remaining)

The Gujarat Lions were brought crashing back down to earth as David Warner and Shikhar Dhawan combined to deliver Sunrisers Hyderabad the most one-sided victory so far in the Indian Premier League this season.

Warner struck an unbeaten 74 off 48 balls alongside his opening partner Dhawan, who finished 53 not out, to hand Hyderabad a 10-wicket victory in less than 15 overs at Rajkot.

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As has been the overriding theme of this year’s tournament, it was the chasing team who emerged victorious, but it had not been done in such style so far until Thursday night.

Earlier, Suresh Raina gave Gujarat some hope with a confident knock of 75 off 51 balls.

However, none of his teammates could form a lasting partnership, with Aaron Finch, so impressive so far in the tournament, out for a duck. Brendon McCullum was second-top scorer with 18.

It was Bhuvneshwar Kumar who did most of the damage with the ball, accounting for Finch, Raina, Akshdeep Nath and Dale Steyn. Bhuvneshwar also took two catches in the field as Gujarat were 135 for eight from their 20 overs.

Then came the turn of Warner and Dhawan, and there would be no cheap wickets this time around as the pair shared 14 boundaries between them – but not one six – as they eased to victory.

Man-of-the-match Bhuvneshwar said getting Finch out “was a big boost”.

“He was the one who scored runs for them, won all three matches for them. I wanted to get him early on.

“They are heavily dependent on their top three. If we could get them out, the team wouldn’t score too many.

“We were under pressure, but its good to be under pressure, it brings out the best in us.”

“I have to give credit to the bowlers,” Warner said.

“It gave us a great opportunity to play the way we want to play with the bowlers restricting the opposition.

“I’m proud of the way the bowlers are bowling and if we keep chasing totals like this, we’ll go a long way in the tournament”

Losing captain Raina said: “We didn’t score enough. The Sunrisers bowlers started really well. We lost too many wickets in the middle, I thought 160 would have been good.”

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First Person
Richard Flanagan
Chatto & Windus 

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The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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Recipe

Garlicky shrimp in olive oil
Gambas Al Ajillo

Preparation time: 5 to 10 minutes

Cooking time: 5 minutes

Serves 4

Ingredients

180ml extra virgin olive oil; 4 to 5 large cloves of garlic, minced or pureed (or 3 to 4 garlic scapes, roughly chopped); 1 or 2 small hot red chillies, dried (or ¼ teaspoon dried red chilli flakes); 400g raw prawns, deveined, heads removed and tails left intact; a generous splash of sweet chilli vinegar; sea salt flakes for seasoning; a small handful of fresh flat-leaf parsley, roughly chopped

Method

Heat the oil in a terracotta dish or frying pan. Once the oil is sizzling hot, add the garlic and chilli, stirring continuously for about 10 seconds until golden and aromatic.

Add a splash of sweet chilli vinegar and as it vigorously simmers, releasing perfumed aromas, add the prawns and cook, stirring a few times.

Once the prawns turn pink, after 1 or 2 minutes of cooking,  remove from the heat and season with sea salt flakes.

Once the prawns are cool enough to eat, scatter with parsley and serve with small forks or toothpicks as the perfect sharing starter. Finish off with crusty bread to soak up all that flavour-infused olive oil.

 

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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.

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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.

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“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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Result
Qualifier: Islamabad United beat Karachi Kings by eight wickets

Fixtures
Tuesday, Lahore: Eliminator 1 - Peshawar Zalmi v Quetta Gladiators
Wednesday, Lahore: Eliminator 2 – Karachi Kings v Winner of Eliminator 1
Sunday, Karachi: Final – Islamabad United v Winner of Eliminator 2