Carter enjoys his return to the top level



Dan Carter described his top-level return to top-class rugby after injury yesterday as "awesome" after scoring 14 points for Canterbury before being substituted in the 65th minute in their 22-19 defeat to North Harbour in Albany. The New Zealand fly-half, 27, had been sidelined for the past six months after rupturing an Achilles tendon while playing club rugby in France, though he made a low-key return to the field in a suburban club game in Christchurch last weekend.

"I really enjoyed it out there, tough conditions, but just to be back playing his awesome," said Carter. "You can do all the rehab but there is nothing better than being out there playing again." Carter appeared to be playing well within himself for the majority of the national provincial match and adopted a conservative approach, content to distribute to his outside backs and kicking for territory. He added: "I'm not too far away [in terms of being able to play at full speed], I am happy enough to be out there and am confident."

Carter is unlikely to be rushed back into the All Blacks side for the Tri Nations, but team officials have hinted he could be chosen for the end of season tour to Japan and Europe, though Carter said he did not want to get too far ahead of himself. "They [the All Blacks selectors] are just looking forward to me getting back and playing for Canterbury," he said. Jonny Wilkinson was rested as his new side Toulon beat Racing Metro 33-19 in a pre-season friendly at the Stade Mayol.

The England fly-half made his debut for the southern French club last Friday, playing the first half and scoring six points in their 9-3 win over Brive. Toulon confirmed that Wilkinson, 30, who has been included in England's 32-man elite player squad for the forthcoming campaign, was rested and was not left out because of injury. * With agencies

The biog

Hobbies: Writing and running
Favourite sport: beach volleyball
Favourite holiday destinations: Turkey and Puerto Rico​

START-UPS IN BATCH 4 OF SANABIL 500'S ACCELERATOR PROGRAMME

Saudi Arabia

Joy: Delivers car services with affordable prices

Karaz: Helps diabetics with gamification, IoT and real-time data

Medicarri: Medical marketplace that connects clinics with suppliers

Mod5r: Makes automated and recurring investments to grow wealth

Stuck: Live, on-demand language support to boost writing

Walzay: Helps in recruitment while reducing hiring time

UAE

Eighty6: Marketplace for restaurant and supplier procurements

FarmUnboxed: Helps digitise international food supply chain

NutriCal: Helps F&B businesses and governments with nutritional analysis

Wellxai: Provides insurance that enables and rewards user habits

Egypt

Amwal: A Shariah-compliant crowd-lending platform

Deben: Helps CFOs manage cash efficiently

Egab: Connects media outlets to journalists in hard-to-reach areas for exclusives

Neqabty: Digitises financial and medical services of labour unions

Oman

Monak: Provides financial inclusion and life services to migrants

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.”

Plan to boost public schools

A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.

It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.

Aspects of the school model will be extended to international private schools, the education minister has previously suggested.

Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

SPECS

Engine: 2-litre direct injection turbo
Transmission: 7-speed automatic
Power: 261hp
Torque: 400Nm
Price: From Dh134,999

Pakistanis at the ILT20

The new UAE league has been boosted this season by the arrival of five Pakistanis, who were not released to play last year.

Shaheen Afridi (Desert Vipers)
Set for at least four matches, having arrived from New Zealand where he captained Pakistan in a series loss.

Shadab Khan (Desert Vipers)
The leg-spin bowling allrounder missed the tour of New Zealand after injuring an ankle when stepping on a ball.

Azam Khan (Desert Vipers)
Powerhouse wicketkeeper played three games for Pakistan on tour in New Zealand. He was the first Pakistani recruited to the ILT20.

Mohammed Amir (Desert Vipers)
Has made himself unavailable for national duty, meaning he will be available for the entire ILT20 campaign.

Imad Wasim (Abu Dhabi Knight Riders)
The left-handed allrounder, 35, retired from international cricket in November and was subsequently recruited by the Knight Riders.

SPEC SHEET: APPLE IPAD (2022)

Display: 10.9-inch Liquid Retina IPS LCD, 2,360 x 1,640, 264ppi, wide colour, True Tone, Apple Pencil 1 support

Chip: Apple A14 Bionic, 6-core CPU, 4-core GPU, 16-core Neural Engine

Storage: 64GB/256GB

Platform: iPadOS 16

Main camera: 12-megapixel wide, f/1.8, 5x digital, Smart HDR 3

Video: 4K @ 24/25/30/60fps, full HD @ 25/30/60fps, slo-mo @ 120/240fps

Front camera: 12MP ultra-wide, f/2.4, 2x, Smart HDR 3, Centre Stage; full HD @ 25/30/60fps

Audio: Stereo speakers

Biometrics: Touch ID

I/O: USB-C, smart connector (for folio/keyboard)

Battery: Up to 10 hours on Wi-Fi; up to 9 hours on cellular

Finish: Blue, pink, silver, yellow

In the box: iPad, USB-C-to-USB-C cable, 20W power adapter

Price: Wi-Fi — Dh1,849 (64GB) / Dh2,449 (256GB); cellular — Dh2,449 (64GB) / Dh3,049 (256GB)

The specs

Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 7-speed dual-clutch auto
Fuel consumption: 10.5L/100km
On sale: Now
Price: From Dh129,999 (VX Luxury); from Dh149,999 (VX Black Gold)

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

Company profile

Name: Steppi

Founders: Joe Franklin and Milos Savic

Launched: February 2020

Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year

Employees: Five

Based: Jumeirah Lakes Towers, Dubai

Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings

Second round raised Dh720,000 from silent investors in June this year

Company Profile

Name: Raha
Started: 2022
Based: Kuwait/Saudi
Industry: Tech Logistics
Funding: $14 million
Investors: Soor Capital, eWTP Arabia Capital, Aujan Enterprises, Nox Management, Cedar Mundi Ventures
Number of employees: 166


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