• England batsman Joe Root smiles after reaching his century on day three of the second Test against New Zealand at Trent Bridge on Sunday, June 12, 2022. Getty
    England batsman Joe Root smiles after reaching his century on day three of the second Test against New Zealand at Trent Bridge on Sunday, June 12, 2022. Getty
  • Joe Root celebrates reaching his century at Trent Bridge in Nottingham on Sunday. AFP
    Joe Root celebrates reaching his century at Trent Bridge in Nottingham on Sunday. AFP
  • England's Ollie Pope scored a century at Trent Bridge on Sunday. PA
    England's Ollie Pope scored a century at Trent Bridge on Sunday. PA
  • Ollie Pope and Joe Root put England in control. Reuters
    Ollie Pope and Joe Root put England in control. Reuters
  • Ollie Pope drives during day three of the second Test. Getty
    Ollie Pope drives during day three of the second Test. Getty
  • Ollie Pope celebrates reaching his century. PA
    Ollie Pope celebrates reaching his century. PA
  • Joe Root plays a pull shot. Reuters
    Joe Root plays a pull shot. Reuters
  • Joe Root plays an innovative shot. Getty
    Joe Root plays an innovative shot. Getty
  • Alex Lees and Ollie Pope touch gloves as Tim Southee joins the chat. Getty
    Alex Lees and Ollie Pope touch gloves as Tim Southee joins the chat. Getty
  • New Zealand's Kyle Jamieson and Tom Blundell fail to catch a tough chance of Joe Root. PA
    New Zealand's Kyle Jamieson and Tom Blundell fail to catch a tough chance of Joe Root. PA

Joe Root reclaims No 1 Test batting ranking after stellar year for England


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Joe Root's vintage form with the bat last season, which has carried over into the current one, was reflected in the ICC rankings for Test batsmen on Wednesday as the Englishman climbed to the top of the table.

Root stepped down as England captain in April, but has been piling up the runs and played a key role as the Three Lions took an unassailable 2-0 lead in the three-Test series against world champions New Zealand.

Root has already scored four centuries in 2022 and has become only the second English batsman to score more than 10,000 runs in Tests. That form has seen him overtake Australia's Marnus Labuschagne as the No 1 ranked batsman in the world.

Root now sits on 897 rating points, five points more than Labuschagne in second place.

Following the series against New Zealand, England will host India for a one-off Test and South Africa for three matches over the coming months, which should give Root a chance to cement his position.

Meanwhile, England's celebrations after their brilliant run chase in the second Test against the Black Caps were dampened to a degree after it was revealed that they have been docked two World Test Championship points and fined 40 per cent of their match fee due to a slow over-rate.

England won a thrilling match at Trent Bridge by five wickets on Tuesday thanks to an astonishing display of hitting from Jonny Bairstow and Ben Stokes.

Bairstow smashed 136 from just 92 balls while Stokes made an unbeaten 75 as England chased 299 in 50 overs on the final day to seal victory.

However, match referee Richie Richardson imposed the sanction after the home side were ruled to have been two overs short of the target after time allowances were taken into consideration.

ICC rules state that players are fined 20 percent of their match fee and the team loses a Test Championship point for every over they fail to bowl in the allotted time.

Bairstow onslaught guides England to famous win

  • Jonny Bairstow celebrates reaching his century that helped England defeat New Zealand by five wickets on the final day of the second Test at Trent Bridge on Tuesday, June 14, 2022. AP
    Jonny Bairstow celebrates reaching his century that helped England defeat New Zealand by five wickets on the final day of the second Test at Trent Bridge on Tuesday, June 14, 2022. AP
  • England captain Ben Stokes, left, celebrates after hitting a four to win the match. Reuters
    England captain Ben Stokes, left, celebrates after hitting a four to win the match. Reuters
  • England's Jonathan Bairstow hits Trent Boult of New Zealand for six on his way to a brilliant 136. Getty
    England's Jonathan Bairstow hits Trent Boult of New Zealand for six on his way to a brilliant 136. Getty
  • England batter Ben Stokes hits a six off the bowling of New Zealand's Trent Boult. Reuters
    England batter Ben Stokes hits a six off the bowling of New Zealand's Trent Boult. Reuters
  • Jonny Bairstow celebrates his century at Trent Bridge. Getty
    Jonny Bairstow celebrates his century at Trent Bridge. Getty
  • England's Ben Stokes dives and narrowly avoids a run out. Reuters
    England's Ben Stokes dives and narrowly avoids a run out. Reuters
  • England's Jonny Bairstow is congratulated by captain Ben Stokes after his thrilling innings came to an end. PA
    England's Jonny Bairstow is congratulated by captain Ben Stokes after his thrilling innings came to an end. PA
  • England batter Jonny Bairstow hits a six. PA
    England batter Jonny Bairstow hits a six. PA
  • England captain Ben Stokes plays a shot on his way to an unbeaten 75. AFP
    England captain Ben Stokes plays a shot on his way to an unbeaten 75. AFP
  • England's Jonny Bairstow celebrates reaching his 50. AFP
    England's Jonny Bairstow celebrates reaching his 50. AFP
  • Tim Southee of New Zealand celebrates after dismissing England's Alex Lees. Getty
    Tim Southee of New Zealand celebrates after dismissing England's Alex Lees. Getty
  • England opener Alex Lees hits a six on his way to 44. Getty
    England opener Alex Lees hits a six on his way to 44. Getty
  • New Zealand bowler Trent Boult of celebrates dismissing Joe Root. Getty
    New Zealand bowler Trent Boult of celebrates dismissing Joe Root. Getty
  • A frustrated Joe Root after the England batsman was caught and bowled for three by New Zealand's Trent Boult. Reuters
    A frustrated Joe Root after the England batsman was caught and bowled for three by New Zealand's Trent Boult. Reuters
  • England opener Zak Crawley is caught at slip by Tim Southee off the bowling of Trent Boult for a duck. Getty
    England opener Zak Crawley is caught at slip by Tim Southee off the bowling of Trent Boult for a duck. Getty
  • New Zealand bowler Matt Henry celebrates the dismissal of England's Ollie Pope for 18. AP
    New Zealand bowler Matt Henry celebrates the dismissal of England's Ollie Pope for 18. AP
  • An aerial view of Trent Bridge, with the football stadiums of Nottingham Forest - the City Ground - and Notts County - Meadow Lane - in the background. Getty
    An aerial view of Trent Bridge, with the football stadiums of Nottingham Forest - the City Ground - and Notts County - Meadow Lane - in the background. Getty
  • England bowler Stuart Broad celebrates with teammates the dismissal of New Zealand's Kyle Jamieson for one. AP
    England bowler Stuart Broad celebrates with teammates the dismissal of New Zealand's Kyle Jamieson for one. AP
  • New Zealand batter Matt Henry is bounced out by Stuart Broad for 18. Reuters
    New Zealand batter Matt Henry is bounced out by Stuart Broad for 18. Reuters
  • Stuart Broad of England celebrates dismissing Matt Henry. Getty
    Stuart Broad of England celebrates dismissing Matt Henry. Getty
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COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENomad%20Homes%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2020%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EHelen%20Chen%2C%20Damien%20Drap%2C%20and%20Dan%20Piehler%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20and%20Europe%3Cbr%3E%3Cstrong%3EIndustry%3C%2Fstrong%3E%3A%20PropTech%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2444m%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Acrew%20Capital%2C%2001%20Advisors%2C%20HighSage%20Ventures%2C%20Abstract%20Ventures%2C%20Partech%2C%20Precursor%20Ventures%2C%20Potluck%20Ventures%2C%20Knollwood%20and%20several%20undisclosed%20hedge%20funds%3C%2Fp%3E%0A

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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Company%C2%A0profile
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Profile

Name: Carzaty

Founders: Marwan Chaar and Hassan Jaffar

Launched: 2017

Employees: 22

Based: Dubai and Muscat

Sector: Automobile retail

Funding to date: $5.5 million

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AndhaDhun

Director: Sriram Raghavan

Producer: Matchbox Pictures, Viacom18

Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan

Rating: 3.5/5

UAE squad

Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

Updated: June 15, 2022, 10:25 AM