Matt Banahan, the 18st winger, scores against Argentina. He has made great progress for both England Saxons and the England first team this summer.
Matt Banahan, the 18st winger, scores against Argentina. He has made great progress for both England Saxons and the England first team this summer.

Big Banahan provides Bath with reasons to be cheerful



The futures of three of his former Bath colleagues may be in the balance but the outlook for Matt Banahan looks extremely bright. While Michael Lipman, Andrew Higgins and Alex Crockett ponder their next move after resigning from the Recreation Ground amid allegations of missing drug tests, Banahan will be eagerly awaiting the announcement of next month's England Elite Player Squad (EPS) after finishing the end-of-season international programme with a flourish.

Starting the summer in the England Saxons squad bound for the Churchill Cup, Banahan was called up by England team manager Martin Johnson as injury cover for David Strettle. But instead of holding tackle bags, the 6ft 7in 18 stone back not only played in all three of England's matches but also crossed the whitewash in each game, including the consolation score in the 24-22 defeat in Argentina on Saturday.

"Looking back I was just pleased to be in the Saxons squad because that meant I was one of the top 30 backs in the country," said Banahan. Now after three games and two caps, I have three tries. I'm pretty happy with that but I've got to look ahead and hope I'm in the EPS squad on July 1. "All I can do is what comes naturally and play the way I can. I couldn't have done any more over the last three weeks and hopefully I've done enough."

Meanwhile, New Zealand's injury curse struck again with loose forward Adam Thomson and hooker Andrew Hore both casualties from Saturday's shock 27-22 defeat to France in Dunedin. Thomson broke a bone in his right hand and will be out for six weeks, while Hore suffered rib cartilage damage. A full assessment on his injury will be known in the next 24 hours. The injuries, which capped off a bad weekend for the All Blacks, have seen coach Graham Henry turn to the Junior All Blacks ranks once again.

George Whitelock will replace Thomson in the squad while Aled de Malmanche, who can play both prop and hooker, has been called in as cover for Hore. New Zealand started Saturday's game without nine first-choice players - including Richie McCaw, Daniel Carter, Ali Williams and Conrad Smith - but assistant coach Steve Hansen refused to blame the injury problems for the below-par performance at Carisbrook.

"That's just the nature of the beast," Hansen said. "We can't use that as an excuse. We've just got to soldier on and do the best we can and prepare for next week. "There are some things we can do a lot better to make sure our performance gets better. It's got nothing to do with injuries, it's the people we put on the track who have just got work hard this week and get things right." Robbie Deans, the Australia coach, insisted the bruising 31-8 victory over an uncompromising Italy side on Saturday was just the kind of test his side needed.

"It was a great workout for us essentially, very physical which we always anticipated. "That was a really good physical workout and we'll be better for it," Deans said. "We were a little bit inaccurate around the contact but in a contest where we found it difficult to get any momentum, we were still able to score five tries so you can't fault that." Captain Stirling Mortlock, who provided the inspiration from centre, was equally upbeat ahead of the Tri Nations series.

"Definitely a step forward," he enthused. "There was Test-match intensity at the breakdown and likewise at set-piece time and I was extremely happy with the way we performed in those areas." * With agencies

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.”

Race 3

Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
Rating: 2.5 stars

COMPANY%20PROFILE
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Mission%3A%20Impossible%20-%20Dead%20Reckoning%20Part%20One
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Christopher%20McQuarrie%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tom%20Cruise%2C%20Hayley%20Atwell%2C%20Pom%20Klementieff%2C%20Simon%20Pegg%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

EXPATS
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COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million