India thrashed New Zealand by 372 runs to win the second Test, and with it clinch the two-match series, on Monday, despite the historic bowling figures of Black Caps spinner Ajaz Patel in the first innings.
Indian spinner Ravichandran Ashwin claimed a match tally of eight wickets – and 300th scalp on home soil – as the hosts wrapped up the series 1-0 following the drawn first Test. Ashwin was also named player of the series.
"I enjoyed that pitch, spun and had a bit more bite," Ashwin said. "It was a wonderful pitch. Every time you come to Wankhede, there's something to look forward to."
Top-ranked New Zealand, who started Day Four on 140-5 in their chase of an improbable 540, were all out for 167 before lunch in Mumbai.
Mumbai-born Ajaz, a left-arm spinner whose name went up on the Wankhede honours board on Saturday after becoming just the third bowler in history to take all 10 wickets in a Test innings, stood out with match figures of 14-225 – the best ever by a bowler against India.
"It's a special occasion for me and my family. To be able to do that (10-for) is special," Ajaz said after the match.
"I'm [tired] but I'll use my quarantine time to recover. It's a different challenge to bowl back home. That's the beauty of Test cricket, it's about adapting your game plan and bowling accordingly."
New Zealand, who hung on for a draw in the opening match, were undone by their batting after Ajaz's heroics. They collapsed to 62 all out in their first innings and were never in the chase against India's spin force.
Ashwin, who struck three times in the final session on Day Three, sent back overnight batsman Henry Nicholls, stumped for 44, as the final wicket.
Jayant Yadav bowled Rachin Ravindra for 18, then struck twice in one over and returned career-best figures of 4-49.
Daryl Mitchell, who top-scored with 60, was the only bit of resistance for the tourists during his fourth-wicket stand of 73 with Nicholls on Sunday.
Indian opener Mayank Agarwal made 150 in India's first-innings total of 325 and then top-scored with 62, with the hosts declaring at 276-7 on Day Three.
India captain Virat Kohli, who returned to lead the side after he stepped down as national Twenty20 captain and took a short break, lauded the team's "clinical" showing.
"To come back with a win is a great feeling, returning as the captain it was a clinical performance, something we've seen time and again," he said. "You want individuals to step up, and guys did that. Even the first Test match was good, this was better."
Ajaz remained the lone performer for world No 1-ranked New Zealand, the World Test champions after beating India in the title clash in June.
His 14 wickets against India surpassed England fast bowler Ian Botham's 13-106 in Mumbai in 1980.
Ajaz's 10-119 in the first innings brought him into elite company alongside two other bowlers – England's Jim Laker (v Australia in 1956) and India's Anil Kumble (v Pakistan in 1999).
But the 33-year-old bowler's remarkable effort was part of a losing fight. He nevertheless had a memorable homecoming including taking the big wickets of Kohli and Cheteshwar Pujara for ducks.
"To be honest, I still don't know how to put the 10-for into words," said Ajaz, who was born in Mumbai but moved to Auckland with his parents in 1996. "I'm trying to absorb it, been flooded with hundreds and thousands of messages. It's overwhelming at the moment."
Ajaz has claimed 43 wickets for New Zealand in 11 matches since making his debut in 2018.
India now head to South Africa for a three-match Test series followed by three ODIs and four Twenty20 matches. The first Test starts on December 17.
Meanwhile, New Zealand head home and will host Bangladesh in a two-match Test series, starting on January 1.
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.”
'Dark Waters'
Directed by: Todd Haynes
Starring: Mark Ruffalo, Anne Hathaway, William Jackson Harper
Rating: ****
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From Europe to the Middle East, economic success brings wealth - and lifestyle diseases
A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.
One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.
In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.
The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.
And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.
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Company/date started: 2015
Founder/CEO: Mohammed Toraif
Based: Manama, Bahrain
Sector: Sales, Technology, Conservation
Size: (employees/revenue) 4/ 5,000 downloads
Stage: 1 ($100,000)
Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)
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Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas)
