Vriitya Aravind was hoisted aloft by his jubilant teammates after guiding Sharjah to the Emirates D10 title with victory over Fujairah at Sharjah Cricket Stadium on Monday night.
The UAE wicketkeeper hit a sparkling 66 not out off 27 balls as the home side added the 10-over title to the one they won in the T20 version of the new national competition at the end of last year.
The final had been delayed because the curtain-raiser fixture between the country’s leading women’s players had gone to a super over.
It meant a late-night finish. Aravind eventually hit the winning runs off his national team captain Ahmed Raza shortly before midnight.
The final was a repeat of the D20 final in December, in which Sharjah snatched the title from Fujairah despite the latter having made all the running earlier in the competition.
Similar happened in the 10-over tournament, with Mohammed Wasim, Usman Khan and Chirag Suri powering Fujairah to the top of the standings with their bats.
Wasim again finished top of the tournament's batting charts, including a 23-ball 60 that saw Fujairah past Ajman in their Monday afternoon semi-final.
The wait between that fixture and the final was long enough for Wasim’s form to cool. He and Usman fell in quick succession against Junaid Siddique’s fast bowling, and Fujairah were struggling when Yasir Kaleem followed them soon after.
The fact Fujairah were able to post a competitive tally from there on said much about the excellence of their national team duo Suri and Alishan Sharafu.
The pair put on an unbroken 98 to lift the side in green to 123-3 from their 10 overs.
Suri’s knock was stunning, mixing deft flicks behind the wicket with raw power. He finished unbeaten on 71 from just 25 deliveries.
He was upstaged by Aravind, though, as the young wicketkeeper batsman made short work of the run chase, with Sharjah winning with eight wickets and 11 balls to spare.
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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UAE squad to face Ireland
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The National's picks
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Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
