Ten years after being told he had no future in the game in India, Vishnu Sukumaran is hoping to get a belated crack at the big stage after a breakthrough series with the UAE.
The national team have just returned from a tour of contrasting fortunes in Namibia. In the Cricket World Cup League 2 leg of the trip, they were woeful, being soundly beaten in three of four one-day international matches.
Then in the T20 segment, they returned the reverse result, proving their compatibility with the shortest format by beating Namibia twice and the United States, once. They won the T20I tri-series on run rate ahead of the in-form American side.
Of all the players on tour, Sukumaran gained the most. He played two pivotal innings in T20 wins against the home team, while against the same opposition earlier in the tour, he played one of the finest knocks ever by a UAE batter.
What was most stunning about his 97 against Namibia at United Sports Club was not the perilous situation in which the UAE found themselves when he arrived – although that was remarkable enough.
Requiring their highest run chase (314), the national team were 114-5 halfway through the innings when Sukumaran was joined by his fellow Keralite, Basil Hameed.
The fact that Sukumaran had never before hinted at being capable of such a feat made his effort all the more noteworthy. His haul of 97 that day was more than he had managed in his nine previous matches for the national team combined, which was a meagre aggregate of 84.
“I had been well supported by the new management and in my mind I wanted to do something for our country,” Sukumaran said.
“It was because of them that we were successful in that match. My initial plan was just not to lose a wicket for at least four to five overs, then we could plan accordingly for the chase.
“When Basil came to the wicket we planned the innings in short formats. To score 10 off the next two overs, 20 off the next three. If a left-arm spinner came on, I would take a chance, and if an off-spinner did then Basil would take the chance.
“That is how we built the innings. It was a very tough situation, but we planned accordingly and we executed well that day.”
It made sense that he would be in sync with Hameed, in particular. The pair are a similar age, and both originate from Kerala.
“We don’t speak Malayalam often in the team, only when we are at the crease together do we communicate that way,” Sukumaran, 33, said.
“All the rest of the time, I’m sharing food with our Afghan player, Omid Rahman, or Mohammed Farooqi from Pakistan. I am from India and we are sharing everything together. It is a very good atmosphere in the team. Everyone is supporting each other very well.”
Sukumaran is grateful for all the support he has received over the past decade, since departing his home for a new start.
He had been hoping to carve out a career in Indian first-class cricket, as he was part of Kerala’s probables side for the Ranji Trophy.
When he was cut from their side, he had to plan for a new career. He looked to Dubai, and found a job as a sales assistant.
“When I was 23 they told me, ‘Vishnu, in the next three years there will be no chance for you to play for Kerala in the Ranji Trophy,’ so I left cricket in India,” he said.
“After I left Kerala, someone told me you can enjoy cricket in Dubai and work as well. I started domestic cricket and slowly, I started to become recognised by the UAE team, after the completion of three years [the ICC’s residency eligibility].”
The left-handed batter’s form was inconsistent, though, and he flitted between sides, finding places at the Bukhatir XI and then InterGlobe Marine.
It was not until 2022 – eight years after he arrived from India – that he first got his chance in the national team. Even that was short lived, with him failing to press his claims via any big scores, and he returned to the fringes of the set up.
Now the trip to Windhoek has given him renewed belief about his ability. He is now targeting a contract to play in the third season of the DP World ILT20.
He is playing for the Marvels in the ILT20 Development Tournament, in which the leading domestic players are vying to be noticed by the six franchises of the main tournament.
“I’m seriously excited,” Sukumaran said. “I scored runs in the first game even though we only came here on the morning of the game and our bodies were tired.
“After a month’s break I was playing a night match, and it was difficult to adapt coming from a different altitude, but still performance-wise I was going well.
“For the past two years I haven’t played any ILT20 matches, but if I perform well in this tournament hopefully I can get the chance to play in it.”
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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.”
Key recommendations
- Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
- Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
- Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
- More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
RESULTS
6.30pm: Handicap (rated 95-108) US$125,000 2000m (Dirt).
Winner: Don’t Give Up, Gerald Mosse (jockey), Saeed bin Suroor (trainer).
7.05pm: Handicap (95 ) $160,000 2810m (Turf).
Winner: Los Barbados, Adrie de Vries, Fawzi Nass.
7.40pm: Handicap (80-89) $60,000 1600m (D).
Winner: Claim The Roses, Mickael Barzalona, Salem bin Ghadayer.
8.15pm: UAE 2000 Guineas Trial (Div-1) Conditions $100,000 1,400m (D)
Winner: Gold Town, William Buick, Charlie Appleby.
8.50pm: Cape Verdi Group 2 $200,000 1600m (T).
Winner: Promising Run, Patrick Cosgrave, Saeed bin Suroor.
9.25pm: UAE 2000 Guineas Conditions $100,000 1,400m (D).
Winner: El Chapo, Luke Morris, Fawzi Nass.
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
SPECS
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Zayed Sustainability Prize