Gul shows up full-time batsmen



England may have finished their second innings yesterday 435 runs ahead of Pakistan, leaving them in need of a record run chase, but were it not for Umar Gul, this game would likely have been over much earlier. Pakistan began the fourth day of the Test needing one of their overnight batsmen to hold his nerve and get the eight runs needed to avoid the follow-on .

Gul, in at No 9, more than fulfilled his brief with a thrilling display of batting that put most of the higher-order batsmen to shame. He then followed that with the ball - taking three wickets - to keep his side in the game. The first half of the day belonged to Gul, but it ended as Matt Prior, the England wicketkeeper, who scored a brilliant century to stretch their lead to 434 and leave Pakistan needing to achieve the highest second-innings run chase of all time.

Prior led England's revival with Graeme Swann, Chris Broad and Steven Finn, who shared a 49-run stand for the last wicket, but at 98 for six, England were only 270 runs ahead, a tough if not unreachable total. Salman Butt, the Pakistan captain, bowled his spinners, Danish Kaneria and Shoaib Malik, far too long when the last pair were at the crease. It was almost like he did not want to bat again on the day, but England made the declaration and ended his match by getting him out in the fourth over as Pakistan reeled to 15-3 at stumps.

Gul is one of the senior members in the team, having made his Test debut in 2003, and he took responsibility yesterday. With a decent record of 107 wickets in 29 Tests, he is expected to be their front-line bowler, but he proved he was no mug with the bat, either. The 26-year-old paceman stroked a career best 65 not out and snapped up three wickets as England were rocking early in their innings. Gul batted so well that he won praise from Ramiz Raja, the former Pakistan captain and opener, who was commenting on the game, saying: "He could have done better had he opened the innings. Such were some of his strokes he played, particularly the drive-shot, both on and off [side]."

Gul drove judiciously and played some stunning pull-shots. It was quite unfortunate to see his partner, Mohammed Asif, running himself out to end what could have been a great rescue act for Pakistan. Gul's entertaining 46-ball knock contained eight hits to the fence and four clearing the boundary, and the 10th-wicket stand was worth 35 valuable runs. He was particularly severe on Steven Finn, hitting him for three sixes, all towards the square leg fence, and three fours, in successive overs.

Kamran Akmal, who has been under fire for his poor glove-work, took a stunning catch diving to his left to give Gul his first wicket, the prized scalp of Kevin Pietersen. The man-of-the-day then got rid of Jonathan Trott, bowled by a delivery that kept low, and had Paul Collingwood trapped after the batsman was dropped first ball by Kamran. It was ironic that Akmal, the wicketkeeper, took four catches given Pakistan would have been in a much better situation had they taken the chances that came their way in the opening day of the Test.

Andrew Strauss, the England captain, was given a life at 15, Kamran putting down a regulation catch before he went on to make 45. Eoin Morgan, who made a top score of 130 should have gone at five had the Pakistani gloveman been a bit smart, and Collingwood should have been stumped before he reached his half century. And, finally, there was a wicket for a spinner after the previous 23 wickets had fallen to the pacemen. Kaneria saw the TV referral go in his favour for a leg before decision on a fullish delivery, to get Swann's wicket.

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Pox that threatens the Middle East's native species

Camelpox

Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.

Falconpox

Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.

Houbarapox

Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.

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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