England batsmen fought valiantly on the final day of the second Ashes Test in Adelaide but fast bowler Jhye Richardson had the final say with a five-wicket haul as Australia prevailed by 275 runs on Monday to take a 2-0 series lead.
Chasing an unlikely victory target of 468, England were all out for 192 in the final session of the match. Chris Woakes scored 44, which was the highest individual score in England's second innings. But it was wicketkeeper Jos Buttler who defied the hosts the most with a dogged 26 off 207 balls.
In the end, pacer Richardson emerged as the match-winner, picking up 5-42 which included the scalps of Buttler and Woakes.
"They showed some great resilience today," Australia's stand-in captain Steve Smith said of the visitors.
"Jos played a really good innings, he faced over 200 balls.
"We were trying to stay as calm as we could out in the middle and just thought, a couple of good balls and a couple of wickets and we'll keep going."
When Joe Root, the world's number one Test batsmen, was dismissed by Mitchell Starc in the final over on Sunday, England's hopes rested on the shoulders of all-rounder Ben Stokes.
On Monday, he tried hard and lasted 77 balls for 12 runs before off-spinner Nathan Lyon struck. The umpire initially gave the lbw shout not out, but Australia reviewed and it was shown to be in front.
Ollie Pope lasted only seven balls, edging to Steve Smith at slip off Starc. Thereafter, the visitors put up a real fight.
Jos Buttler (26) and Chris Woakes (44) dug in to frustrate Australia in a 61-run stand and raise hopes of an improbable rescue act.
However, Richardson breached Woakes' defence with an off-cutter to rattle the stumps and put the Aussie back in control.
Ollie Robinson made a dogged eight before Smith took his sixth catch of the match to dismiss him off Lyon. But the biggest moment of the day came when Buttler incredibly fell after surviving nearly 35 overs by stepping on his own stumps.
Root's team head to Melbourne for the Boxing Day Test starting Sunday knowing that the only instance of a team coming from 2-0 down to win the Ashes was Don Bradman's Aussies back in 1936-37.
"The reason it's disappointing is because we made the same mistakes. I think we could have bowled a lot fuller, and with the bat we need to be better, make bigger scores and apply better," said Root.
"The second innings is the attitude and desire we need. It's frustrating because we know we are better. Lessons learnt, we have to be better in the next game."
Root added that England can't afford to feel sorry for themselves and urged his players to replicate the fight shown by Buttler in the remaining matches in Melbourne, Sydney and Hobart.
"The Ashes are on the line here, if that is not motivation, I don’t know what is," Root added.
"Ultimately that is the attitude and the mentality we have to harness over the next five days. I am extremely proud of the way the guys fought today, that attitude and desire that’s how we need to go about a whole Test match.
"I thought Jos’s innings was outstanding on that pitch. He should have gained a lot more confidence from this."
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Formula Middle East Calendar (Formula Regional and Formula 4)
ESSENTIALS
The flights
Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes.
The trip
From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.
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Spare
Profile
Company name: Spare
Started: March 2018
Co-founders: Dalal Alrayes and Saurabh Shah
Based: UAE
Sector: FinTech
Investment: Own savings. Going for first round of fund-raising in March 2019
Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi
Yadoo’s House Restaurant & Cafe
For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.
Golden Dallah
For the cappuccino, luqaimat and aseeda.
Al Mrzab Restaurant
For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.
Al Derwaza
For the fish hubul, regag bread, biryani and special seafood soup.
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Heavily-sugared soft drinks slip through the tax net
Some popular drinks with high levels of sugar and caffeine have slipped through the fizz drink tax loophole, as they are not carbonated or classed as an energy drink.
Arizona Iced Tea with lemon is one of those beverages, with one 240 millilitre serving offering up 23 grams of sugar - about six teaspoons.
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Mohammed bin Zayed Majlis
Green ambitions
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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.
“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.”
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A list of the animal rescue organisations in the UAE
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Strait of Hormuz
Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.
The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.
Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.
Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.
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Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.
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Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.
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Mohammed bin Zayed Majlis
Museum of the Future in numbers
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