Pakistan Super League organisers remain hopeful the tournament can be played to a conclusion in Abu Dhabi this month, even though a number of logistical issues still need to be solved.
The Pakistan Cricket Board met with owners of the six franchises online on Tuesday to discuss the possibility of restarting the competition on June 7.
The PCB have put back the departure of the national team players for their tour of the UK to June 25, rather than June 23, in a bid to complete the PSL season.
The final of the tournament is now earmarked for Thursday, June 24, rather than June 20 as planned.
However, the restart date appears to be dependent on the availability of 16 production company crew, who are in isolation in Dubai.
According to the organisers, the National Crisis and Emergency Management Authority will “decide on Wednesday afternoon if they will grant exemptions to 16 production crew to work in Abu Dhabi from June 5 to make a June 7 start possible”.
The seven-day isolation for those who arrived on charter flights from Karachi and Lahore – which constitutes the majority of tournament personnel – ends on Wednesday afternoon.
Sarfaraz Ahmed, meanwhile, is among six players whose arrival in the UAE was initially delayed, but has now made it to the capital.
Twenty matches are still to be played, after the competition was suspended at the start of March due to a number of positive Covid cases within the teams.
The remaining fixtures were rescheduled for June, and relocated to the UAE capital because of the Covid situation back in Pakistan.
Despite the challenges, the teams remain focused on pressing ahead with preparations for the restart.
Islamabad United and Lahore Qalandars will be the first sides to train at the Zayed Cricket Stadium, on Wednesday evening.
There has also been a personnel change for Multan Sultans, with Blessing Muzarabani, the fast bowler who excelled in international matches for Zimbabwe against Afghanistan in Abu Dhabi earlier this year, replacing Obed McCoy of West Indies.
At the point the tournament paused back in March, four teams were tied on six points at the top of the table.
Karachi Kings lead the standings on net run rate, ahead of Peshawar Zalmi, Islamabad and Lahore.
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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.”
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Infobox
Western Region Asia Cup Qualifier, Al Amerat, Oman
The two finalists advance to the next stage of qualifying, in Malaysia in August
Results
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Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
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'The worst thing you can eat'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
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