Royal Challengers Bangalore's Virat Kohli plays a shot during the Indian Premier League (IPL) Twenty20 cricket match between Royal Challengers Bangalore and Gujarat Titans at the M Chinnaswamy Stadium in Bengaluru on May 21, 2023. (Photo by Manjunath KIRAN / AFP)
Royal Challengers Bangalore's Virat Kohli plays a shot during the Indian Premier League (IPL) Twenty20 cricket match between Royal Challengers Bangalore and Gujarat Titans at the M Chinnaswamy Stadium in Bengaluru on May 21, 2023. (Photo by Manjunath KIRAN / AFP)
Royal Challengers Bangalore's Virat Kohli plays a shot during the Indian Premier League (IPL) Twenty20 cricket match between Royal Challengers Bangalore and Gujarat Titans at the M Chinnaswamy Stadium in Bengaluru on May 21, 2023. (Photo by Manjunath KIRAN / AFP)
Royal Challengers Bangalore's Virat Kohli plays a shot during the Indian Premier League (IPL) Twenty20 cricket match between Royal Challengers Bangalore and Gujarat Titans at the M Chinnaswamy Stadium

Virat Kohli in best T20 form of career despite IPL exit with Royal Challengers Bangalore


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A second successive century from Virat Kohli was not enough to prevent Royal Challengers Bangalore from crashing out of this year's Indian Premier League.

The former India and RCB captain cracked an unbeaten 101 off 61 balls in a rain-delayed match against reigning champions Gujarat Titans, which was his seventh IPL ton, overtaking Chris Gayle’s record for most scored in the tournament's history.

Kohli also passed the 600-run mark for the third time in 16 IPL seasons and became the third batter to record consecutive IPL centuries – after Jos Buttler and Shikhar Dhawan – to help his team reach 197-5 at M Chinnaswamy Stadium.

Bangalore had to win their final IPL game of the league stage to claim the last available play-off spot, but Shubman Gill followed his century against Sunrisers Hyderabad with an unbeaten 104 off 52 balls as Gujarat reached 198-4 with five balls to spare for a six-wicket win.

Mumbai will play Lucknow Super Giants, who became the third team to make the play-offs on Saturday, in the eliminator next week.

Table-toppers Gujarat and second-placed Chennai Super Kings will clash in the first qualifier on Tuesday.

“A lot of people feel my T20 cricket is declining, but I don't feel like that at all. I feel I am playing my best T20 cricket again,” said 34-year-old Kohli, who has scored a record 7,263 runs in the IPL during his career, with Dhawan second with 6,617.

  • Royal Challengers Bangalore's Virat Kohli celebrates after scoring a century against Gujarat Titans in the IPL clash at the M. Chinnaswamy Stadium on May 21, 2023. AFP
    Royal Challengers Bangalore's Virat Kohli celebrates after scoring a century against Gujarat Titans in the IPL clash at the M. Chinnaswamy Stadium on May 21, 2023. AFP
  • RCB's Virat Kohli is congratulated by Gujarat Titans' Rashid Khan after reaching a century. AFP
    RCB's Virat Kohli is congratulated by Gujarat Titans' Rashid Khan after reaching a century. AFP
  • RCB's Virat Kohli scored 101 off 61 balls, but it wasn't enough to prevent his team losing by six-wickets to Gujarat Titans. AFP
    RCB's Virat Kohli scored 101 off 61 balls, but it wasn't enough to prevent his team losing by six-wickets to Gujarat Titans. AFP
  • Virat Kohli's century for RCB included 13 fours and one six. AFP
    Virat Kohli's century for RCB included 13 fours and one six. AFP
  • RCB's Virat Kohli celebrates reaching his fifty. AP
    RCB's Virat Kohli celebrates reaching his fifty. AP
  • Virat Kohli scored centuries in successive games for Royal Challengers Bangalore. AFP
    Virat Kohli scored centuries in successive games for Royal Challengers Bangalore. AFP
  • RCB's Virat Kohli scored his seventh IPL century - a new IPL record. AP
    RCB's Virat Kohli scored his seventh IPL century - a new IPL record. AP
  • RCB's Virat Kohli became the third IPL player to score centuries in successive matches. AFP
    RCB's Virat Kohli became the third IPL player to score centuries in successive matches. AFP
  • Virat Kohli's Royal Challengers Bangalore were knocked out of the IPL following the defeat to Gujarat. AP
    Virat Kohli's Royal Challengers Bangalore were knocked out of the IPL following the defeat to Gujarat. AP
  • RCB's Virat Kohli watches after playing a shot against Gujarat Titans. AP
    RCB's Virat Kohli watches after playing a shot against Gujarat Titans. AP

“I'm just enjoying myself, this is how I play T20 cricket. I look to hit gaps, hit a lot of boundaries and the big ones in the end if the situation allows me to.

“You have to read the situation and rise up to the occasion when the situation demands, and that's something I take a lot of pride in doing … I feel really good with my game at the moment and how I'm batting out there in the middle.”

Kohli started strongly in a 67-run opening partnership with captain Faf du Plessis, who made 28 to stay on top of the batting chart with 730 runs.

It moved Kohli behind Du Plessis in the batting list with 639 runs but Gill toppled the senior star to take second spot with 674 runs.

“Virat played an unbelievable knock to give us a chance and we thought that was a good score,” said Du Plessis. “But Shubman played incredibly well to take the game away from us.

“It just shows you Virat has got a lot left in the tank in T20 cricket as he is playing really well still.”

Rankings

ATP: 1. Novak Djokovic (SRB) 10,955 pts; 2. Rafael Nadal (ESP) 8,320; 3. Alexander Zverev (GER) 6,475 ( 1); 5. Juan Martin Del Potro (ARG) 5,060 ( 1); 6. Kevin Anderson (RSA) 4,845 ( 1); 6. Roger Federer (SUI) 4,600 (-3); 7. Kei Nishikori (JPN) 4,110 ( 2); 8. Dominic Thiem (AUT) 3,960; 9. John Isner (USA) 3,155 ( 1); 10. Marin Cilic (CRO) 3,140 (-3)

WTA: 1. Naomi Osaka (JPN) 7,030 pts ( 3); 2. Petra Kvitova (CZE) 6,290 ( 4); 3. Simona Halep (ROM) 5,582 (-2); 4. Sloane Stephens (USA) 5,307 ( 1); 5. Karolina Pliskova (CZE) 5,100 ( 3); 6. Angelique Kerber (GER) 4,965 (-4); 7. Elina Svitolina (UKR) 4,940; 8. Kiki Bertens (NED) 4,430 ( 1); 9. Caroline Wozniacki (DEN) 3,566 (-6); 10. Aryna Sabalenka (BLR) 3,485 ( 1)

Can NRIs vote in the election?

Indians residing overseas cannot cast their ballot abroad

Non-resident Indians or NRIs can vote only by going to a polling booth in their home constituency

There are about 3.1 million NRIs living overseas

Indians have urged political parties to extend the right to vote to citizens residing overseas

A committee of the Election Commission of India approved of proxy voting for non-resident Indians

Proxy voting means that a person can authorise someone residing in the same polling booth area to cast a vote on his behalf.

This option is currently available for the armed forces, police and government officials posted outside India

A bill was passed in the lower house of India’s parliament or the Lok Sabha to extend proxy voting to non-resident Indians

However, this did not come before the upper house or Rajya Sabha and has lapsed

The issue of NRI voting draws a huge amount of interest in India and overseas

Over the past few months, Indians have received messages on mobile phones and on social media claiming that NRIs can cast their votes online

The Election Commission of India then clarified that NRIs could not vote online

The Election Commission lodged a complaint with the Delhi Police asking it to clamp down on the people spreading misinformation

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Ajax advance 3-2 on aggregate

MATCH INFO

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Leicester City 5 (Vardy 37' pen, 54', 58' pen, Maddison 77', Tielemans 88' pen)

Man of the match: Jamie Vardy (Leicester City)

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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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Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
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Athletic Bilbao 0

Real Madrid 1 (Ramos 73' pen)

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Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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How does ToTok work?

The calling app is available to download on Google Play and Apple App Store

To successfully install ToTok, users are asked to enter their phone number and then create a nickname.

The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.

Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

Dubai World Cup Carnival card

6.30pm: UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m

7.05pm: Handicap (TB) $135,000 (Turf) 1,000m

7.40pm: Handicap (TB) $175,000 (D) 1,900m

8.15pm: Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m

8.50pm: Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m

9.25pm: Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m

The National selections

6.30pm: Final Song

7.05pm: Pocket Dynamo

7.40pm: Dubai Icon

8.15pm: Dubai Legacy

8.50pm: Drafted

9.25pm: Lucius Tiberius

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10,000  - 12,500 steps - active

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How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Updated: May 22, 2023, 11:24 AM