India's T20 World Cup winners' victory celebrations back home have been put on hold as the national team remains stuck in Barbados following a category 4 hurricane which struck Caribbean islands.
The Indian team, their family members, support staff, board officials and members of the media are still in Barbados three days after Rohit Sharma's team lifted the T20 crown following a sensational final against South Africa.
While the Proteas exited the island early, India's travel plans coincided with the onset of Hurricane Beryl, which strengthened into a top-level category 5 storm after sweeping across several islands in the southeastern Caribbean.
Barbados survived the worst of the weather as the hurricane hit 80 miles south of the island, but still caused considerable damage.
The weather has cleared up enough temporarily for the Indian team to travel back home late on Tuesday. According to reports, the Indian team is expected to land in New Delhi Wednesday evening by chartered flight.
Barbados Prime Minister Mia Mottley said she expects operations to return to normal soon.
"We were very blessed that the storm did not come on land. The hurricane was 80 miles south of us, which limited the level of damage on shore. But infrastructure and coastal assets have been badly damaged," Mottley was quoted as saying by the Press Trust of India.
"It could have been a lot worse, but now is the time to do the recovery and the clean-up."
However, Barbadians and visitors to the island are not in the clear yet as another hurricane is expected to hit the island later on Wednesday.
The US National Hurricane Centre stated that Beryl has developed into a "potentially catastrophic" hurricane with maximum sustained winds of 260 kmph.
Earlier, Grenada's Carriacou Island took a direct hit from the storm.
Nearby islands, including St Vincent and the Grenadines, also experienced "catastrophic winds and life-threatening storm surge," according to the NHC.
Indian cricket board secretary Jay Shah is among those still in Barbados. On Sunday, the BCCI announced a winning bonus of $15 million for the victorious India team after they ended a decade-long wait for a major trophy.
Captain Rohit Sharma, player of the final Virat Kohli and all-rounder Ravindra Jadeja announced their retirements from T20 Internationals soon after the final.
The team's arrival back home is expected to be felicitated by India Prime Minister Narendra Modi. Plans for a victory parade have not yet been announced.
"First we need to see how to get the players and everyone out of here safely, and then we will think about the felicitation upon arrival in India," Shah said.
The board is also expected to announce the appointment of the next India coach after landing in the country. Rahul Dravid ended his tenure as India coach with a World Cup trophy, having extended his stay after the ODI World Cup late last year.
Former opener Gautam Gambhir is expected to be named the next coach.
Another India squad made up of younger players on the fringes have already left for Zimbabwe where they will take part in a T20 series that begins this week. VVS Laxman will coach the side in the interim.
Five members of India's travelling World Cup squad – Rinku Singh, Yashasvi Jaiswal, Shivam Dube, Khaleel Ahmed and Sanju Samson – have also been selected for the five-match series.
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All times UAE ( 4 GMT)
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A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
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The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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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.”
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
