New Zealand are in a commanding position after three days of their Test against West Indies. Rob Jefferies / Getty Images
New Zealand are in a commanding position after three days of their Test against West Indies. Rob Jefferies / Getty Images
New Zealand are in a commanding position after three days of their Test against West Indies. Rob Jefferies / Getty Images
New Zealand are in a commanding position after three days of their Test against West Indies. Rob Jefferies / Getty Images

West Indies trail Black Caps by 228 on Day 3 after being made to follow on


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DUNEDIN, New Zealand // Kirk Edwards and Darren Bravo made half centuries in a 117-run second wicket partnership which helped the West Indies to 168 for 2 in their second innings at stumps on Thursday after they followed on 396 runs behind New Zealand on the third day of the first Test.

Tim Southee and Trent Boult shared seven wickets as New Zealand dismissed the tourists for 213 in reply to their first innings of 609 for 9 declared and Boult made an early breakthrough in the second innings after captain Brendon McCullum enforced the follow on.

After losing an early wicket, Edwards (59) and Bravo (40) stayed together through most of the final session, in a much-needed partnership but the West Indies are still 228 runs off making New Zealand bat again.

The tourists resumed Thursday at 67 for 2, and Southee (4-52) took three wickets before lunch to stop the West Indies’ top order from mounting a serious bid for the follow on target.

Bravo (40) set in motion the decline when he was out in only the fourth over of the day. He flashed at a ball from Southee well wide of off stump, an almost epidemic failing of the West Indies’ batsman, and he was caught by McCullum, diving low and to his right at gully.

Shivnarine Chanderpaul provided almost single-handed resistance with a 76, posting his 62nd half century in his 151st Test and surpassing 11,000 Test runs.

Chanderpaul was out lbw, playing no shot to a ball from Boult which pitched outside off and cut back, striking him high on the pad. He challenged the decision but the technology showed the ball would have hit the bails.

When he was out, the fight went out of the tourists and New Zealand wrapped up their first innings less than an hour into the second session.

Captain Darren Sammy was 27 not out when the West Indies’ innings ended. He batted with a hamstring strain suffered while bowling on the first day and could do little more than hobble between wickets, reaching his total from 22 balls with six fours.

His injury led to the comical run out of Tino Best for 0 when Sammy, after struggling to take singles, suddenly attempted a two and left his partner hopelessly stranded.

In the first dismissal of the second innings. Boult found the edge of Kieran Powell’s bat when the opener was 14, the West Indies were 18, and Southee took the catch at slip.

“It would have been nice to have maybe one or two more wickets on that total,” Boult said.

“It was all go this morning and it was nice to run through them in a way but we always knew they were going to put up a more resilient fight this afternoon and it’s what they’ve done.

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RESULTS

5pm: Watha Stallions Cup Handicap (PA) Dh 70,000 (Dirt) 2,000m

Winner: Dalil De Carrere, Bernardo Pinheiro (jockey), Mohamed Daggash (trainer)

5.30pm: Maiden (TB) Dh 70,000 (D) 2,000m

Winner: Miracle Maker, Xavier Ziani, Salem bin Ghadayer

6pm: Maiden (PA) Dh 70,000 (D) 1,600m

Winner: Pharitz Al Denari, Bernardo Pinheiro, Mahmood Hussain

6.30pm: Maiden (PA) Dh 70,000 (D) 1,600m

Winner: Oss, Jesus Rosales, Abdallah Al Hammadi

7pm: Handicap (PA) Dh 70,000 (D) 1,400m

Winner: ES Nahawand, Fernando Jara, Mohamed Daggash

7.30pm: Maiden (PA) Dh 70,000 (D) 1,000m

Winner: AF Almajhaz, Abdul Aziz Al Balushi, Khalifa Al Neyadi

8pm: Maiden (PA) Dh 70,000 (D) 1,000m

Winner: AF Lewaa, Bernardo Pinheiro, Qaiss Aboud.

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

What is a Ponzi scheme?

A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

The biog

Family: He is the youngest of five brothers, of whom two are dentists. 

Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.

Where he works: Liberty Dental Clinic 

PSA DUBAI WORLD SERIES FINALS LINE-UP

Men’s: 
Mohamed El Shorbagy (EGY)
Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
Miguel Angel Rodriguez (COL)
Gregory Gaultier (FRA)
Karim Abdel Gawad (EGY)
Nick Matthew (ENG)

Women's: 
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
Joelle King (NZE)
Camille Serme (FRA)
Nouran Gohar (EGY)
Sarah-Jane Perry (ENG)

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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Politics in the West

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.”

UPI facts

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