• England captain Joe Root speaks to media ahead of the fourth Ashes Test at Sydney Cricket Ground. Getty Images
    England captain Joe Root speaks to media ahead of the fourth Ashes Test at Sydney Cricket Ground. Getty Images
  • Joe Root speaks to the media during a press conference ahead of the fourth Ashes Test at the Sydney Cricket Ground. EPA
    Joe Root speaks to the media during a press conference ahead of the fourth Ashes Test at the Sydney Cricket Ground. EPA
  • Joe Root during an England training session at the Sydney Cricket Ground. PA
    Joe Root during an England training session at the Sydney Cricket Ground. PA
  • England vice-captain Ben Stokes trains during a nets session at Sydney Cricket Ground. Getty Images
    England vice-captain Ben Stokes trains during a nets session at Sydney Cricket Ground. Getty Images
  • England players stretch during a nets session at Sydney Cricket Ground. Getty Images
    England players stretch during a nets session at Sydney Cricket Ground. Getty Images
  • Joe Root speaks to teammates during an England nets session at Sydney Cricket Ground. Getty Images
    Joe Root speaks to teammates during an England nets session at Sydney Cricket Ground. Getty Images
  • England bowler James Anderson, right, during a training session ahead of the fourth Ashes Test at the Sydney Cricket Ground. EPA
    England bowler James Anderson, right, during a training session ahead of the fourth Ashes Test at the Sydney Cricket Ground. EPA
  • Joe Root and his England teammates wear pink caps during a photo shoot at Sydney Cricket Ground. Getty Images
    Joe Root and his England teammates wear pink caps during a photo shoot at Sydney Cricket Ground. Getty Images
  • Joe Root walks from the field after the England team photo ahead of a nets session at Sydney Cricket Ground. Getty Images
    Joe Root walks from the field after the England team photo ahead of a nets session at Sydney Cricket Ground. Getty Images
  • England players pose for a team photo in pink caps before during a nets session at Sydney Cricket Ground. Getty Images
    England players pose for a team photo in pink caps before during a nets session at Sydney Cricket Ground. Getty Images
  • England players pose for a team photo in pink caps before during a nets session at Sydney Cricket Ground. Getty Images
    England players pose for a team photo in pink caps before during a nets session at Sydney Cricket Ground. Getty Images

Root to assess future as England captain after Ashes but Stokes has no desire to take over


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Joe Root has said he will assess his future as England captain at the end of the Ashes series but his focus now is only on helping his side salvage some pride from the tour, while Ben Stokes has ruled himself out of potentially taking over as skipper.

Root, 31, will become England's longest-serving Test captain at the fourth Test in Sydney on Wednesday, surpassing predecessor Alastair Cook's 59 matches in charge, but he is under pressure after three consecutive heavy defeats to Australia.

"Obviously it's been very challenging and we've had a lot to deal with, not just on the field but off it, and we are just trying to manage it as best we can," Root said of the calamitous tour. "I'll look at my future beyond this tour at the end of it.

"I think there are questions for me to answer. I don't think, as a distraction around the group, it should be something I'm wasting energy on now.

"I need to make sure I throw everything I can into these next two games. I owe that to this team and the players. That will give us the best chance of getting the results that we desire."

There are few obvious candidates to replace Root with vice-captain Stokes at the top of the list, but the 30-year-old all-rounder said he is not interested and backed Root to continue.

"I've never really had an ambition to be a captain," Stokes was quoted as saying by the BBC. "Captaincy is more than about setting fields, picking the team, making decisions out there in the middle. A captain is someone you want to go out and play for. Joe Root is someone I always want to play for."

Stokes has led England once previously, a Test defeat by West Indies in 2020 when Root was on paternity leave. However, Stokes said he doesn't believe Root is ready to give up the role.

"I don't sense that at all with Joe," he said. "He's brought this team a long way. He's done some great things.

"Obviously, this series hasn't gone too well, not from a captaincy point of view but from a team and results point of view. It's totally Joe's decision."

Stokes also backed beleaguered England coach Chris Silverwood, who will miss the Sydney Test because of Covid.

"All the hype in the media recently about their futures, it's your job to write that, but they know full well they have the support of everyone in there and that's all that matters," Stokes said.

Usman Khawaja during a nets session at the Sydney Cricket Ground. PA
Usman Khawaja during a nets session at the Sydney Cricket Ground. PA

Australia's preparations have also been affected by Covid, with batsman Travis Head unavailable after he tested positive in Melbourne.

With Head missing, Australia called up Mitchell Marsh and Josh Inglis into the squad as cover, but the experienced Usman Khawaja is likely to replace him for his first Test since the 2019 Ashes.

"Hopefully I can go out there and score a hundred and do well for the team in the absence of 'Heady'," Khawaja said. "I'm in the best cricket conditioning I've been."

There was talk that the home team could hand leg-spinner Mitchell Swepson a debut on what is traditionally the most spin-friendly of the Australian Test venues. But with showers forecast for the first four days, that now appears less likely, with the strong grass cover expected to make the pitch more fast-bowler friendly.

If recovered from a side strain, Josh Hazlewood will return to bolster Australia's already strong bowling stocks.

If he isn't quite ready, Scott Boland could retain his place after a remarkable 6-7 on debut in the Boxing Day Test, or Jhye Richardson – who grabbed a five-wicket haul in Adelaide – will return after being rested for Melbourne.

"I've got pretty good faith that if Hoff's (Hazlewood) confident and he says he's right to go, I think we back him in. He's earned that trust," said chief selector George Bailey.

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 
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A

THE SPECS

Aston Martin Rapide AMR

Engine: 6.0-litre V12

Transmission: Touchtronic III eight-speed automatic

Power: 595bhp

Torque: 630Nm

Price: Dh999,563

Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

Graduated from the American University of Sharjah

She is the eldest of three brothers and two sisters

Has helped solve 15 cases of electric shocks

Enjoys travelling, reading and horse riding

 

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.”

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Homie%20Portal%20LLC%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20End%20of%202021%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAbdulla%20Al%20Kamda%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20Undisclosed%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2014%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ELaunch%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self-funded%3C%2Fp%3E%0A
THE SPECS

BMW X7 xDrive 50i

Engine: 4.4-litre V8

Transmission: Eight-speed Steptronic transmission

Power: 462hp

Torque: 650Nm

Price: Dh600,000

Updated: January 03, 2022, 6:18 AM