Nepal have had a lengthy wait for their shot at Asia Cup cricket, but by the time they booked their tickets for their debut tournament earlier this summer, they might have felt they were ready.
After all, they have been preparing for this moment for years. Big-match experience in front of fervent support? Check. Attendant riot police in case the atmosphere ever boils over? Always.
All that sort of stuff goes on at most major matches at Tribhuvan University, as the cricketers of the UAE will attest. Twice this year, Nepal have beaten the UAE to big prizes while being bayed on by over-capacity crowds in Kathmandu – including qualification for this Asia Cup.
And yet the touring side will have experienced nothing like what is in store in Multan, where they face Pakistan in the competition opener on Wednesday.
Everything is ramped up to extreme levels, from the security operation to the standard of opposition.
When the respective teams are on their way to the stadium, they do not follow the same route they have previously taken. The convoys include van loads of special forces troopers.
There is a massive police presence on the streets, including roadblocks preventing access anywhere near the stadium.
Then there is the small matter of the opposition. Nepal acquitted themselves well when they played full-member opposition for the first time at the World Cup Qualifier in Zimbabwe recently, but this is a different test altogether. Now they are going up against the world’s No 1 side.
And they will be playing against them at Pakistan’s biggest cricket stadium, in front of what is often referred to as the country’s most fierce support.
“It is always a great feeling to play in front of the passionate Multan crowd and we all are very excited that the Asia Cup is beginning in this city,” said Pakistan captain Babar Azam.
“I want to congratulate Nepal for qualifying for the Asia Cup and I hope that their participation will give a boost to the development of the sport in the country.”
Rohit Paudel, the Nepal captain, was afforded a warm welcome by all on arrival at Multan Stadium on the eve of the game, with many referencing the fact it is both the city of saints, as well as being known for its mangoes.
He knows the hospitality will be less friendly once the action starts, but he is urging his players to focus on the ball, and not the reputation of the opposition players.
“There are a lot more expectations for us,” Paudel said. “All the players have been dreaming of this Asia Cup.
“We have been playing for more than two decades and this is a great opportunity to represent our country at the highest level, in the Asia Cup. It is a big occasion for all of us.
“The difference is experience. If you look at batting at bowling skills, both are the same.
“Pakistan is an experienced side. That is the only difference. Both the teams have world-class bowlers and batsmen.
“Our goal is to win one-ball battles. Focus on the ball, regardless of who the opponent is.”
Babar said that Pakistan’s No 1 ranking, earned during a clean-sweep of Afghanistan last week, is not a burden but something to be proud of.
“I would not say that there is a pressure,” Babar said. “Rather, we enter this tournament with more confidence.
“This team has put in a lot of hard work and effort over the last few years and achieving the top spot is testament to it. The job, however, is not done as we want to win the Asia Cup and the World Cup.
“We have some competitive and exciting next few months lined up and we are eager to do well for our country.
“Every player in this side wants to win matches for his country. They are always ready to put in the hard yards and never shy away from tough and difficult situations. We have had an amazing last few months and now it is time to build on the momentum.”
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.”
How Alia's experiment will help humans get to Mars
Alia’s winning experiment examined how genes might change under the stresses caused by being in space, such as cosmic radiation and microgravity.
Her samples were placed in a machine on board the International Space Station. called a miniPCR thermal cycler, which can copy DNA multiple times.
After the samples were examined on return to Earth, scientists were able to successfully detect changes caused by being in space in the way DNA transmits instructions through proteins and other molecules in living organisms.
Although Alia’s samples were taken from nematode worms, the results have much bigger long term applications, especially for human space flight and long term missions, such as to Mars.
It also means that the first DNA experiments using human genomes can now be carried out on the ISS.
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