Kashif Daud, pictured batting during the 2020 Emirates D10, took three wickets and scored a half-century for the UAE in their draw with Oman on Tuesday, February 8, 2022. Chris Whiteoak / The National
Kashif Daud, pictured batting during the 2020 Emirates D10, took three wickets and scored a half-century for the UAE in their draw with Oman on Tuesday, February 8, 2022. Chris Whiteoak / The National
Kashif Daud, pictured batting during the 2020 Emirates D10, took three wickets and scored a half-century for the UAE in their draw with Oman on Tuesday, February 8, 2022. Chris Whiteoak / The National
Kashif Daud, pictured batting during the 2020 Emirates D10, took three wickets and scored a half-century for the UAE in their draw with Oman on Tuesday, February 8, 2022. Chris Whiteoak / The National

UAE fall just short of series clean-sweep in Oman despite Kashif Daud heroics


Paul Radley
  • English
  • Arabic

UAE had to settle for a tie in their series finale against Oman after a heroic late-overs salvo from Kashif Daud had taken them to the point of victory in Muscat.

The Sharjah-based all-rounder dragged his side to within one blow of victory in the Cricket World Cup League 2 encounter, having made a courageous 52 after coming in at No 8 in the order.

But, with three required off the remaining two deliveries from leg-spinner Khawar Ali to clinch an unlikely win, Daud holed out to long on.

Zahoor Khan hit the final ball along the ground to the same region. Akif Raja, the No 11 who had come in to replace Daud, was well short of his ground when coming back for the second run to tie the scores, but Khawar dropped the return.

With nothing to lose from that point on, Zahoor attempted to run a third to win the game, but Akif was finally run out at the wicketkeeper’s end with the scores level.

Even though the tourists fell just short of a clean-sweep, the series represented a fine return to one-day international cricket for the first time in over a year.

They dominated the league leaders in the first two matches, and appeared to be doing similar at halfway in the third, having restricted Oman to 214.

Daud starred with the ball, too. He took 3-41 and was on a hat-trick after dismissing Kaleemullah and Naseem Khushi in successive deliveries.

The run chase proved tough, though, on a worn wicket against Oman’s battery of slow bowlers. Nestor Dhamba in particular asphyxiated the UAE middle order, as he took three for 20 from his 10 overs.

The game appeared lost once Ahmed Raza was the eighth player out with UAE still requiring 46 in six and a half overs. Daud took them close to achieving the improbable, but they ended just short.

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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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Match info:

Real Betis v Sevilla, 10.45pm (UAE)

Pakistan squad

Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi

Updated: February 08, 2022, 2:45 PM