Thunder guard Kevin Durant drives against Kobe Bryant and Ron Artest of the Lakers.
Thunder guard Kevin Durant drives against Kobe Bryant and Ron Artest of the Lakers.

Durant is making noise



Two weeks ago, Kevin Durant became the youngest scoring champion in the history of the NBA by averaging 30.1 points per game. At the beginning of the season, no one in their right mind would have suggested this was possible. The scoring title was reserved for either Kobe Bryant or LeBron James. On Thursday, Durant put in a dominating performance, leading the Oklahoma City Thunder to a 101-96 victory over the Los Angeles Lakers.

Several of Oklahoma's young stars played an important part in the victory, however the real story was the 21-year-old Durant's all-around game. While he finished with a respectable 29 points, 19 rebounds and four assists, Durant's defensive performance was the key to victory for the underdog Thunder. The man they now call Durantula started the game by missing his first eight shots. For the game, he shot eight of 24 from the field and one of six from beyond the three-point line. In the game's final quarter, he came alive.

Durant hit several key shots in a row and then went back on defence to guard Bryant. The legendary Lakers scorer could not find a way to make a basket against Durant. In the game's final minutes, Durant delivered a knockout blow when he blocked a shot attempt by Bryant. Soon after, Durant hit two free throws to seal the Thunder's first play-off victory. "Scoring is a big part of my game," Durant said afterwards. "It kind of overshadows other parts of my game. But if I continue to play hard on both ends, it is going to come around for me."

Bryant himself was impressed. "It was a match-up that caught me by surprise. I think he did a great job." The Thunder will probably lose this best-of-seven series, which they trail 2-1. However the victory Thursday night was a showcase of the league's future marquee player. All season Durant has toiled in the obscurity of Oklahoma, far from the media hordes in New York and Los Angeles. This most recent performance will surely cement Durant's place among the league's elite.

sports@thenational.ae

RESULTS
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
The specs: 2018 Maxus T60

Price, base / as tested: Dh48,000

Engine: 2.4-litre four-cylinder

Power: 136hp @ 1,600rpm

Torque: 360Nm @ 1,600 rpm

Transmission: Five-speed manual

Fuel consumption, combined: 9.1L / 100km

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.”

TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

COMPANY%20PROFILE
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MATCH INFO

Barcelona 2
Suarez (10'), Messi (52')

Real Madrid 2
Ronaldo (14'), Bale (72')

Company%20Profile
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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
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