The UAE cricket coach Vasbert Drakes, left, coaches a session at the Sharjah Cricket Stadium.
The UAE cricket coach Vasbert Drakes, left, coaches a session at the Sharjah Cricket Stadium.
The UAE cricket coach Vasbert Drakes, left, coaches a session at the Sharjah Cricket Stadium.
The UAE cricket coach Vasbert Drakes, left, coaches a session at the Sharjah Cricket Stadium.

Drakes hints at quitting


Paul Radley
  • English
  • Arabic

KUALA LUMPUR // Vasbert Drakes admitted he is still undecided about whether he will stay on as coach of the UAE national team, after their eight-year reign as ACC Trophy champions was ended by Hong Kong on Sunday. The former West Indies all-rounder was originally hired on a short-term deal to oversee the Asia Cup campaign in Pakistan and their Trophy defence in Kuala Lumpur.

He is still the coach of Barbados, but he has warmed to his role in the Emirates, and previously he hinted he might be keen to stay on to marshal them through the ICC World Cup Qualifier next April. However, he did say his future would be governed by how they performed at the Trophy - the competition for the continent's best non-Test playing nations staged in Malaysia. The UAE had won the previously four editions of the competition, yet they lost that proud record in a three wicket defeat an inspired Hong Kong side in Puchong, a small suburb of Kuala Lumpur, at the weekend.

Drakes said: "I will go back to the UAE, have week's rest and speak to the board and weigh up my options and see where I go from there. "I really enjoy being part of the set-up. "The guys are wonderful. [But] if they want to play at the highest level they need to show more discipline and commitment. "If you can get a group of players who are willing to make sacrifices, in the next two or three years you will see some more positive cricket."

Drakes, a former Test player with the West Indies, has had his eyes opened to the troubles faced by amateur players attempting to compete at international level since starting his stint in Sharjah. "It has been a challenge," he added. "Having players coming from work straight into practice sessions, you have to take that into consideration. You have to have a little more sympathy. "In the future, hopefully we can get a core of players who can gel together before a competition and get them fitter."

The Barbadian coach took over from the former Pakistan bowler Kabir Khan in May. The side he inherited is rich in batting and spin-bowling talent, yet he admits the supply of pace-bowlers is worryingly lean in the Emirates. "Throughout the series we bowled a lot of wides and that put pressure on the bowlers who bowled first and second," he said. "That is an area we really need to tackle. We need to look for the type of bowlers who can do a job up front.

"I thought they had enough match experience [to do better]. Someone like Zahid Shah, as one of the leading seamers in the UAE and having bowled so well at the Asia Cup, the amount of wides and no-balls bowled in this tournament were so disappointing. "We have potential in that department, but the guys have to be more disciplined, they have to really work hard at their fitness." @Email:pradley@thenational.ae

Labour dispute

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- Abdullah Ishnaneh, Partner, BSA Law 

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

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.”

TOURNAMENT INFO

Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia

UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri

Fixtures

Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am

Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am

Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am

Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight

Russia's Muslim Heartlands

Dominic Rubin, Oxford

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital