On this day, April 28, 2007: Adam Gilchrist powers Australia to third successive World Cup title


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Becoming world champions one time is challenging enough. Doing it three times in a row makes you the undisputed kings of the game.

That is what Australia became on April 28, 2007, when they defeated Sri Lanka by 53 runs in the World Cup final in the Caribbean to become champions for the third successive time.

The venue was Barbados with the Aussies the overwhelming favourites. The match was badly affected by rain which saw innings reduced to 38 overs and then 36.

Australia batted first and for the third straight time, the openers gave them a solid start. Matthew Hayden and Adam Gilchrist added 172 runs inside just 23 overs.

However, Hayden took 55 balls for his 38, leaving Gilchrist to do all the big hitting.

The wicketkeeper batsman played one of the finest ODI innings ever seen as he clobbered 149 from just 104 balls with 13 fours and eight sixes. Ricky Ponting’s team posted 281-4 from 38 overs.

The target got reduced to 269 from 36 overs. But that was just a formality. Sri Lanka never really stood a chance.

Opener Sanath Jayasuriya (63) and Kumar Sangakkara (54) added 116 runs for the second wicket but after their departures, the wheels came off.

The Sri Lankans played out the 36 overs and only managed 215-8 in fading light as the men in green and gold lifted the title.

The brilliance of Gilchrist’s innings became even more resplendent after it emerged that he had played the innings with a squash ball stuffed in his glove, which allowed him to grip the bat better.

Sri Lanka later objected to the use of a foreign object to improve performance.

However, the MCC – custodians of the laws of the game – said Gilchrist was well within his rights to use the squash ball as it was no different to batsmen using two or more grips to hold the bat better.

“This should not be considered unfair,” the MCC said. “Similarly, it has never been considered unfair for batsmen to use two grips on the bat handle.”

Gilchrist revealed it was a friend in Australia who had come up with the idea.

"Before the World Cup, I actually practised indoors and tried to improve my grip with half a squash ball inside my gloves.

"It was a friend of mine, Bob Mueleman. His last words to me before I left the indoor training centre where I train with him in Perth were ‘if you are going to use it, make sure when you score a hundred in the final you show me and prove to me you got it in there’.

“I had stayed true to that.”

The tournament, however, did not turn out to be a success. With India and Pakistan getting knocked out early in the tournament, interest plummeted and so did viewers.

Also, the tragic death of Pakistan coach Bob Woolmer during the tournament cast a long shadow on the event.

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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.”

Roll of honour 2019-2020

Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain

West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership

UAE Premiership
}Winners: Dubai Exiles
Runners up: Dubai Hurricanes

UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II

UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby

PROFILE OF STARZPLAY

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Tips for used car buyers
  • Choose cars with GCC specifications
  • Get a service history for cars less than five years old
  • Don’t go cheap on the inspection
  • Check for oil leaks
  • Do a Google search on the standard problems for your car model
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  • Validate warranty and service contracts with the relevant agency and and make sure they are valid when ownership is transferred
  • If you are planning to sell the car soon, buy one with a good resale value. The two most popular cars in the UAE are black or white in colour and other colours are harder to sell

Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com