Few other sports reserve quite so much scrutiny for their playing surfaces as cricket.
Given the volume of traffic currently passing over their squares, groundsmen at the three major stadiums in the UAE know they are under the scanner.
After the run-spree that concluded Abu Dhabi’s involvement in this season’s Indian Premier League, the Zayed Cricket Stadium might have a fair claim to be regarded as the best batting wicket in the country.
Mumbai Indians and Sunrisers Hyderabad shared 428 runs in 40 overs in the last of the eight 2021 IPL matches playe
d at the main stadium in the capital.
And yet anecdotal evidence suggests the Zayed Cricket Stadium wicket might not even be the best on its own site.
Batters from Kolkata Knight Riders and Mumbai Indians – the two IPL sides who based themselves in the capital – were queuing up to practice on the Tolerance Oval pitches during training this season.
That is the oval adjacent to the northern end of the main stadium, which has been renovated with a view to hosting major international cricket in future.
Officially, the Tolerance Oval has already staged nine T20 internationals, including UAE hosting Australia in 2018.
In fact, those matches were played on the other of the two nursery ovals, which neighbour the Zayed Cricket Stadium.
This summer the decision was taken to develop Abu Dhabi Cricket's third oval – the only one which has yet to stage official international cricket.
It is set to have a capacity for 12,000 spectators on grass banks surrounding the field, with nine strips on the wicket block, seven of which will be suitable for TV coverage.
Last week, Kolkata’s players were the first to practice under the new floodlights, which have suitable intensity to allow HD TV broadcasts.
Although the matches will be played without crowds, as per the T20 World Cup organisers’ directives, the new Tolerance Oval will host a number of the sport’s leading teams next week.
On Monday October 18, Afghanistan will face South Africa before New Zealand play Australia. Two days later, England will play New Zealand, to be followed by Pakistan against South Africa.
All those matches will take place while first round matches are taking place inside the main stadium.
Matt Boucher, Abu Dhabi Cricket’s chief executive, says Tolerance Oval is a “new gem” which will help drive the sport in the capital.
“The ground has enabled us to diversify our offering to global stakeholders - such as the IPL, ICC and BCCI - while ensuring the main stadium deserves the care and attention she needs in advance of the main tournament Round 1 and Super 12 match rotation,” Boucher said.
“The next stage will see us finalise the ICC night accreditation for one-day international and T20 international matches with the Emirates Cricket Board, before the ground officially becomes a new cricketing destination for the world. We’re absolutely thrilled with the final product.”
COMPANY%20PROFILE
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Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
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.”
Results
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The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now
UAE currency: the story behind the money in your pockets