Sachin Tendulkar hit 50 from just 23 balls.
Sachin Tendulkar hit 50 from just 23 balls.
Sachin Tendulkar hit 50 from just 23 balls.
Sachin Tendulkar hit 50 from just 23 balls.

Indians thrash the Daredevils


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Last night's clash between the Delhi Daredevils and Mumbai Indians was billed as a showdown between two of world cricket's most destructive batsmen - Virender Sehwag and Sachin Tendulkar - but yet again, the game refused to follow the script. The duel never materialised as Sehwag fizzled out after Tendulkar's exquisite innings had set the Daredevils a challenging 219 for victory. The Delhi opener, who got off to a fiery start, skied one to long-off and the Mumbai stalwart waved his hand in celebration and shrieked with delight.

With Gautam Gambhir pulling a hamstring in the first over of the game, Tendulkar knew only Sehwag stood between the Mumbai Indians and their second successive win. Once he was gone, the match was in the bag; the Delhi Daredevils struggled to get anywhere close to the finish line, falling short by 98 runs. Tendulkar deservedly received the individual honours for the game after setting the foundations for Mumbai's win. He and Saurabh Tiwary both smashed exciting 60s as the visitors racked up their second consecutive 200-plus score; an impressive 218 for seven with a valuable contribution from Ambati Rayudu as well.

Tendulkar and Sanath Jayasuriya, the elder statesmen of world cricket with more than 52,000 international runs between them, got the Mumbai Indians off to a flying start, negating Dirk Nannes's early threat and adding 38 runs from 3.4 overs before a stunning overhead catch by Yogesh Nagar, the Daredevils' substitute, ended the Sri Lankan's night. Runs continued to flow, however, and the first powerplay of six overs had brought the visitors 67 runs. Halfway through their innings, they had 112 for two on the board with Tendulkar reaching his 50 from 23 balls - the fastest half-century by a Mumbai Indians batsman in the Indian Premier League (IPL) - along the way.

After adding a further 13 runs, the "Little Master" was walking back to the pavilion after another brilliant catch by Nagar, this time diving low in front at long-off. But there was no respite for the Daredevil bowlers as Tiwary (61) and Rayudu (34) continued the good run rate as they battered the attack to all parts of the park. They added 73 runs from 6.5 overs and reduced Kieron Pollard's debut to a fleeting appearance towards the end. The West Indian, reportedly the most expensive player in the IPL, will have to wait for his moment. The Daredevils, on the other hand, will be sweating over the fitness of Gambhir. He pulled a hamstring chasing the Mumbai Indians' first runs off the bat and did not return to the field even to bat as the Daredevils finished on 120 for nine with three overs to spare. @Email:arizvi@thenational.ae

The specs

Engine: Two permanent-magnet synchronous AC motors

Transmission: two-speed

Power: 671hp

Torque: 849Nm

Range: 456km

Price: from Dh437,900 

On sale: now

The specs

Engine: 5.0-litre supercharged V8

Transmission: Eight-speed auto

Power: 575bhp

Torque: 700Nm

Price: Dh554,000

On sale: now

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.”

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

The Specs

Price, base Dh379,000
Engine 2.9-litre, twin-turbo V6
Gearbox eight-speed automatic
Power 503bhp
Torque 443Nm
On sale now

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Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag

Company profile

Name: Oulo.com

Founder: Kamal Nazha

Based: Dubai

Founded: 2020

Number of employees: 5

Sector: Technology

Funding: $450,000

UAE currency: the story behind the money in your pockets