India's head coach Rahul Dravid during a press conference at the 2023 ICC Men's Cricket World Cup. AFP
India's head coach Rahul Dravid during a press conference at the 2023 ICC Men's Cricket World Cup. AFP
India's head coach Rahul Dravid during a press conference at the 2023 ICC Men's Cricket World Cup. AFP
India's head coach Rahul Dravid during a press conference at the 2023 ICC Men's Cricket World Cup. AFP

India coach Rahul Dravid set to extend contract


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Rahul Dravid is set to stay on as coach of India having guided them to the final of the ODI World Cup earlier this month, the country's cricket board revealed on Wednesday.

It was "unanimously agreed to further the tenure" of the 50-year-old former team captain, the Board of Control for Cricket in India (BCCI) said in a statement, although no details of a new contract have yet been announced.

India, captained by the opening batsman Rohit Sharma, went unbeaten in 10 matches at the World Cup before losing the final in Ahmedabad.

The hosts lost by six wickets to an Australia side who extended their record of World Cup titles to six, with India remaining on three, the last of which came on home soil in 2011.

"The board acknowledges Mr. Dravid's instrumental role in moulding the Indian team and commends his exceptional professionalism," the BBCI said.

Dravid's contract had expired after the World Cup, with him having signed a two-year deal back in 2021.

"The last two years with team India have been thoroughly memorable," said Dravid. "Together we have witnessed the highs and lows, and throughout this journey, the support and camaraderie within the group have been phenomenal.

"I am genuinely proud of the culture we have set in the dressing room."

His team of support staff, including batting coach Vikram Rathour and bowling coach Paras Mhambrey, have also been retained.

The BCCI did not confirm the length of the new deal, with India now looking to the Twenty20 World Cup in June next year as they seek a first major honour since the 2013 Champions Trophy.

"Mr. Rahul Dravid's vision, professionalism and unyielding efforts have been important pillars in team India's success," Roger Binny, president of the BCCI, said.

"As head coach of the Indian cricket team you are always under immense scrutiny and I extend appreciation to him not only for embracing the challenges but for thriving in them."

India v Australia - World Cup final

  • Australia's players celebrate after their six-wicket win over India in the World Cup final match at the Narendra Modi Stadium in Ahmedabad on November 19, 2023. AFP
    Australia's players celebrate after their six-wicket win over India in the World Cup final match at the Narendra Modi Stadium in Ahmedabad on November 19, 2023. AFP
  • Australia's David Warner, Marnus Labuschagne and Steve Smith celebrate with the trophy. Reuters
    Australia's David Warner, Marnus Labuschagne and Steve Smith celebrate with the trophy. Reuters
  • Australia players celebrate at the Narendra Modi Stadium in Ahmedabad. Getty Images
    Australia players celebrate at the Narendra Modi Stadium in Ahmedabad. Getty Images
  • Australia captain Pat Cummins poses with the trophy . AFP
    Australia captain Pat Cummins poses with the trophy . AFP
  • Australia players celebrate after winning the World Cup. Reuters
    Australia players celebrate after winning the World Cup. Reuters
  • India's Virat Kohli walks past the World Cup trophy. Getty Images
    India's Virat Kohli walks past the World Cup trophy. Getty Images
  • Australia's Glenn Maxwell and Marnus Labuschagne celebrate after secureing victory. Reuters
    Australia's Glenn Maxwell and Marnus Labuschagne celebrate after secureing victory. Reuters
  • A dejected Virat Kohli after India's defeat. Getty Images
    A dejected Virat Kohli after India's defeat. Getty Images
  • Travis Head of Australia celebrates his century. Getty Images
    Travis Head of Australia celebrates his century. Getty Images
  • Australia's Marnus Labuschagne finished unbeaten on 58. AFP
    Australia's Marnus Labuschagne finished unbeaten on 58. AFP
  • Australia's Marnus Labuschagne, left, hugs Travis Head as latter celebrates his century. AP
    Australia's Marnus Labuschagne, left, hugs Travis Head as latter celebrates his century. AP
  • India's Jasprit Bumrah, third left, holds his head in disappointment after a not-out LBW decision against Australia's Marnus Labuschagne was upheld by the third umpire. AP
    India's Jasprit Bumrah, third left, holds his head in disappointment after a not-out LBW decision against Australia's Marnus Labuschagne was upheld by the third umpire. AP
  • Australia's Travis Head cracked 137 runs off 120 balls, including 15 fours and four sixes. AP
    Australia's Travis Head cracked 137 runs off 120 balls, including 15 fours and four sixes. AP
  • India's Jasprit Bumrah, right, celebrates with teammate Virat Kohli after taking the wicket of Australia's Steve Smith. AFP
    India's Jasprit Bumrah, right, celebrates with teammate Virat Kohli after taking the wicket of Australia's Steve Smith. AFP
  • India's Mohammed Shami celebrates the dismissal of Australia's David Warner, right, caught by Virat Kohli at slip. AP
    India's Mohammed Shami celebrates the dismissal of Australia's David Warner, right, caught by Virat Kohli at slip. AP
  • Australia's Mitchell Starc celebrates with teammate Steve Smith after taking the wicket of India's KL Rahul. AFP
    Australia's Mitchell Starc celebrates with teammate Steve Smith after taking the wicket of India's KL Rahul. AFP
  • India's Virat Kohli walks back to the pavilion after his dismissal. AFP
    India's Virat Kohli walks back to the pavilion after his dismissal. AFP
  • India's KL Rahul plays a shot on his way to a score of 66. AFP
    India's KL Rahul plays a shot on his way to a score of 66. AFP
  • Australia's Josh Hazlewood celebrates after taking the wicket of India's Ravindra Jadeja, caught by Josh Inglis. Reuters
    Australia's Josh Hazlewood celebrates after taking the wicket of India's Ravindra Jadeja, caught by Josh Inglis. Reuters
  • India's KL Rahul celebrates after reaching his half century. Reuters
    India's KL Rahul celebrates after reaching his half century. Reuters
  • Australia's captain Pat Cummins celebrates after taking the wicket of India's Virat Kohli, left. AP
    Australia's captain Pat Cummins celebrates after taking the wicket of India's Virat Kohli, left. AP
  • Australia's Adam Zampa takes the catch to dismiss India's Shubman Gill, off the bowling of Mitchell Starc. Reuters
    Australia's Adam Zampa takes the catch to dismiss India's Shubman Gill, off the bowling of Mitchell Starc. Reuters
  • Australia's Travis Head takes the catch to dismiss India's Rohit Sharma, off the bowling of Glenn Maxwell. Reuters
    Australia's Travis Head takes the catch to dismiss India's Rohit Sharma, off the bowling of Glenn Maxwell. Reuters
  • Australia's Travis Head celebrates with teammate Mitchell Marsh after taking the catch to dismiss India's captain Rohit Sharma. AFP
    Australia's Travis Head celebrates with teammate Mitchell Marsh after taking the catch to dismiss India's captain Rohit Sharma. AFP
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Power: 727hp

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Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

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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.”

Sinopharm vaccine explained

The Sinopharm vaccine was created using techniques that have been around for decades. 

“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.

"What is left is a skeleton of the virus so it looks like a virus, but it is not live."

This is then injected into the body.

"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.

"You have to be exposed more than one time to what we call the antigen."

The vaccine should offer protection for at least months, but no one knows how long beyond that.

Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.

“Since it is inactivated, it will not last forever," she said.

GYAN’S ASIAN OUTPUT

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Based: Dubai

Industry: E-grocery

Initial investment: $150,000

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Tomato and walnut salad

A lesson in simple, seasonal eating. Wedges of tomato, chunks of cucumber, thinly sliced red onion, coriander or parsley leaves, and perhaps some fresh dill are drizzled with a crushed walnut and garlic dressing. Do consider yourself warned: if you eat this salad in Georgia during the summer months, the tomatoes will be so ripe and flavourful that every tomato you eat from that day forth will taste lacklustre in comparison.

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2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

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December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

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MATCH INFO

Barcelona 4 (Messi 23' pen, 45 1', 48', Busquets 85')

Celta Vigo 1 (Olaza 42')

Updated: November 29, 2023, 1:11 PM