Virat Kohli, left, guided Royal Challengers Bengaluru to victory over Punjab Kings in Mullanpur. Getty Images
Virat Kohli, left, guided Royal Challengers Bengaluru to victory over Punjab Kings in Mullanpur. Getty Images
Virat Kohli, left, guided Royal Challengers Bengaluru to victory over Punjab Kings in Mullanpur. Getty Images
Virat Kohli, left, guided Royal Challengers Bengaluru to victory over Punjab Kings in Mullanpur. Getty Images

IPL 2025: Bengaluru come to life in 'death overs' to defeat Punjab


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A day after Lucknow Super Giants conjured a scarcely believable win against Rajasthan Royals through some stupendous final overs bowling, Royal Challengers Bengaluru followed a similar template to taste victory in the IPL on Sunday.

A day earlier, Avesh Khan had produced a spell for the ages as Lucknow defended 25 runs from the last three overs to eke out a two-run win, with the Super Giants relying heavily on yorkers.

On Sunday, it was the turn of Bengaluru's veteran seamers Josh Hazlewood and Bhuvneshwar Kumar to showcase their skills in the final four overs - traditionally known as the death overs in T20s - as they choked the life out of Punjab's batting in the first innings in Mullanpur, restricting the hosts to 157-6.

With four overs to go, Punjab were 129-6 and looking at a score of 170 or more, which is about par for that stage of the innings.

But Hazlewood and Bhuvneshwar had other plans as they nailed yorkers one after the other against the well set Shashank Singh and Marco Jansen. Both batters have shown the ability to hit the ball long this season, which made RCB's bowling even more commendable.

The two seamers gave away just one boundary in the last four overs - a six by Jansen off the last ball of the innings. Even with that maximum, Punjab could collect just 28 runs from the four overs, which is unheard of in T20 cricket with two set batsmen and no wickets falling.

Many teams this IPL have gone back to the traditional mode of bowling in the final stage of an innings, backing the fast bowlers to target the base of the stumps with full deliveries. Before Avesh's heroics, Delhi Capitals pacer Mitchell Starc had produced a similar magical spell to seal victory over Rajasthan.

With bowlers now allowed to use saliva on the ball again - a practice that was topped following the pandemic - the ball is getting more conducive for reverse swing.

The first innings of most matches is seeing pacers get a lot more movement with the older ball. Also, umpires are now encouraged to change the ball if it gets wet because of evening dew, which is also allowing fast bowlers to trust the traditional style of death overs bowling.

Bengaluru used the same tactics to restrict Punjab to under 160, despite Shashank (31 from 33) and Jansen (25 off 20) at the crease.

Bengaluru's spinners played their part perfectly. Left-arm spinner Krunal Pandya (2-25) and leg-spinner Suyash Sharma (2-26) accounted for most of the top order.

The total did not challenge Bengaluru enough.

The Royal Challengers chased down the target with seven wickets and as many deliveries in hand. Devdutt Padikkal hit a quick fifty while opener Virat Kohli scored an unbeaten 73 from 54 balls.

The result took RCB to 10 points and pushed them closer to a spot in the playoffs. They moved up to third in the table, with a total of five teams on same number of points.

Three more wins from the remaining six games should be enough for Bengaluru to qualify for the next stage.

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.”

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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

Updated: April 20, 2025, 1:55 PM