Australia v India: Yashasvi Jaiswal run-out sparks collapse after Steve Smith ton in Melbourne Test


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Australia turned the screws on India in the Boxing Day Test in Melbourne as Steve Smith hit his second century in as many matches before India's batting failed spectacularly in the final hour.

After struggling initially in the series, Smith roared back into form with a sizzling 140 as Australia amassed a daunting 474 in their first innings of the fourth Test on Friday.

Australia's lower order batted brilliantly as the hosts, who started the day on 311-6, took the score closer to 500 and the match beyond India's grasp.

With more than 87,000 fans in attendance, Australia plundered the runs before being dismissed soon after lunch. Smith's brilliant 140, which included 13 fours and three sixes, ended when he was bowled by Akash Deep in bizarre circumstances, with the ball trickling off his body after charging down the wicket.

Fast bowler Jasprit Bumrah once again carried the bowling load with hardly any support from the other end, finishing with 4-99, while spinner Ravindra Jadeja took 3-78.

Scott Boland picked up two wickets late in the day. Getty Images
Scott Boland picked up two wickets late in the day. Getty Images

There was more hardship awaiting India as captain Rohit Sharma walked out to bat as an opener alongside Yashasvi Jaiswal. Rohit's promotion to the top meant an in-form KL Rahul was asked to bat at one down, while Shubman Gill was dropped from the XI.

The decision backfired, as was expected. Rohit did not look settled at any stage and spooned a simple catch off Pat Cummins after attempting a strange pull shot.

Rahul steadied the ship with Jaiswal before the former was bowled by Cummins for 24 via a brilliant off cutter.

In walked Virat Kohli and he looked like taking India through to close of play without further damage.

Jaiswal was batting superbly, scoring boundaries at will and also hitting a six. But in the final 45 minutes of play, India lost the plot completely.

Jaiswal, batting on 82, went for a non-existent single to mid on and ended up on the same end with Kohli, run out easily by the wicketkeeper.

From 153-2, India lost momentum. Next over, Kohli – possibly rattled by that run out – again edged a wide and full ball from Scott Boland behind to be out for a well made 36. The tourists were forced to send in night-watchman Akash Deep, who could not survive until the end and was out for a duck.

Rishabh Pant and Jadeja took India to close of play at 164-5, still 310 runs behind Australia and staring at the possibility of a follow on.

Australia are now favourites to take a lead in the series, and they can thank Smith for putting them in that position.

Earlier in the day, Smith padded up again on 68, with skipper Cummins alongside him on eight.

The veteran batsman showed his intent early with a four from Bumrah while Cummins also batted with freedom. They took 15 off one Akash Deep over to bring up their 50-run partnership before Smith hooked Bumrah for six.

Smith reached his 34th Test century with a boundary off Nitish Kumar Reddy, which came on the back of a return to form at the last Test in Brisbane where he made 101.

It was a patient innings from the 35-year-old and moved him alongside four other players on the all-list of century-makers, including Sunil Gavaskar and Brian Lara.

The rest of Australia's lower order also showed good application to take the total past 450. Cummins (48), Mitchell Starc (15) and Nathan Lyon (13) showed good application to keep India on the field as long as possible.

Rohit's captaincy deficiencies were laid bare once again as he allowed the game to drift, failed to plug the gaps and even let tail-enders take easy singles.

Having failed spectacularly as captain and batsman, this is most likely the end of Rohit's Test career.

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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.

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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.

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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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Updated: December 27, 2024, 8:57 AM