Ravindra Jadeja had been away from the Indian team for months following knee surgery but did not show any signs of rust on his return as he flummoxed Australia's batsmen on the opening day of the Nagpur Test.
Jadeja picked up five wickets on a pitch that offered turn and variable bounce from the first session, helping dismiss the Aussies for just 177 and handing the initiative to the hosts in the opening clash of the Border Gavaskar Trophy. India concluded the day's play on 77-1, with captain Rohit Sharma hitting a quick fifty to cap a near-perfect day.
Jadeja took 5-47 while fellow spinner Ravichandran Ashwin took 3-42 as the Australian innings folded in the final session.
However, the day began on a note not many had expected. While the focus was on spinners, India's fast bowlers made good use of the early morning moisture to dismiss the openers. Mohammad Siraj got Usman Khawaja lbw before Mohammad Shami uprooted the off stump of David Warner.
Marnus Labuschagne (49) and Steve Smith (37) launched a fightback with their third-wicket 82-run stand but the spinners were just getting into the groove.
Jadeja removed Labuschagne, stumped by debutant keeper KS Bharat, while Matt Renshaw was trapped lbw first ball.
Jadeja then claimed the wicket of the day when he bowled Smith with a straighter delivery that sneaked through his defence.
Peter Handscomb, who made 31, and wicketkeeper-batsman Alex Carey, who hit 36, also put on a partnership of 53 before Ashwin ended Carey's stint to record his 450th Test wicket.
Ashwin and Jadeja kept up the charge to get into the Australian tail when the tourists took tea at 174-8, and added just three runs in the final session.
In reply, the Indians started positively with captain Sharma hitting three boundaries off Australian skipper Pat Cummins' first over. He put on 76 runs with opening partner KL Rahul, who laboured to 20.
Sharma reached his fifty with a four off Nathan Lyon and saw off the day's play. Rahul fell caught and bowled off debutant spinner Todd Murphy, who celebrated his first Test wicket.
"I was looking to bowl into the stumps because there was no bounce in the wicket," Jadeja said after the day's play.
"The odd ball was spinning and the odd ball was going straight, so that is what I was looking to do."
Jadeja had been away from the team for seven months and had to return to first-class cricket to prove his match fitness.
“I played Test cricket after a long time and it is tough,” Jadeja said. “I worked hard on my fitness. I bowled nearly 10-12 hours daily at the NCA (National Cricket Academy) to regain my rhythm for this series. I also played first-class cricket. I knew I had to bowl long spells.”
COMPANY%20PROFILE
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Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
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.”
Results
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The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now