It doesn’t take an opportunist very long to spot which way the wind is blowing. When the history of the first decade of the Indian Premier League (IPL) is written, a couple of tweets from Harsh Goenka, brother of the Rising Pune Supergiant owner, could well find a place.
After they had beaten Mumbai Indians in their opening game of 2017, he tweeted: “#RPSvMI Smith proves who’s the king of the jungle. Overshadows Dhoni totally. Captains [sic] innings. Great move to appoint him as captain.”
Five weeks on, the two teams met again, with a place in the final at stake. This time, Smith made one. Dhoni blasted 40 from 26 balls, inclusive of five sixes, to take Pune to a total that proved beyond even the power-packed Mumbai line-up.
This time, Goenka was singing in praise. “Explosive batting by Dhoni, deceitful bowling by Sundar and great captaincy by Smith takes #RPS to the #IPL finals.”
Apart from the fact that there is nothing deceitful about poor Washington Sundar, all of 17 and fresh off his first season in first-class cricket, the Goenka outbursts have come to be seen as a cricketing equivalent of Alan Hansen’s now-mocked You’ll-win-nothing-with-kids line about Alex Ferguson’s remodelled 1996/97 Manchester United squad.
Hansen, however, is a bona fide legend, and an astute thinker on the game. Goenka, like so many others involved with IPL franchises, has no pretensions to being either.
It is not as though Indian cricket fans needed an attention seeker to tell them that Dhoni’s powers are on the wane. Dhoni will be 36 in July, and has not been an all-format regular for India since December 2014.
With India playing a whopping 17 Tests between July 2016 and the start of the IPL, he has had precious little game time in the white-ball formats. Domestic cricket, no matter what his commitment to Jharkhand, is nowhere near as challenging.
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Read more from Dileep Premachandran
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■ 'The Universe Boss': We are witnessing the end with no wind left in Chris Gayle's sails
■ Champions Trophy: Rishabh Pant's blistering IPL form makes him an ideal candidate for India's squad
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The Mumbai cameo, as well as a couple of others earlier in the season as Pune recovered from a horrid 1-3 losing start, cannot camouflage the fact that he is not the fearsome prospect of old. Peak Dhoni, the one the IPL saw in 2011 (392 runs in 247 balls) and 2013 (461 off 283), was a destroyer of attacks. Dhoni circa 2017 bides his time before reaching back to the old catalogue. His numbers, 280 runs off 237 balls, suggest a man cast in a very different role.
This is definitely Steve Smith’s team, though Dhoni remains an influential presence behind the stumps. In other ways though, it is Chennai Super Kings Mark II, with Stephen Fleming masterminding strategy in the dugout. For Dhoni, it will be a seventh IPL final. For Fleming, who stepped into the Chennai coaching role in 2009 before taking the Pune role in 2016, it will be a sixth.
Pune have timed their surge to the final without Ravichandran Ashwin for the entire season, and with Ben Stokes missing the business end of the tournament. If they do go on to win, and they are the competition’s form team with nine wins in their past 11 matches, it will create quite the conundrum for the IPL’s Governing Council.
When the two new franchises, Pune and Gujarat Lions, were introduced ahead of the 2016 IPL season, it was made quite clear that it was a stopgap arrangement, and that Chennai and Rajasthan Royals, both banned for two seasons for their part in the 2013 spot-fixing scandal, could return in time for the 2018 season.
It is not as though an IPL champion side has not vanished in the past. Deccan Chargers won the tournament when it was held in South Africa in 2009. They folded in 2012, with Sunrisers Hyderabad taking their place the following season. The interesting thing here is the fact that at least a couple of franchises have been looking to sell up for a while now. With the 10-year race run, it is not inconceivable that one could drop out, allowing Pune – albeit on renegotiated franchise fees – to be back next season.
Even in the unlikely event that such a thing did happen, it is almost certain that Dhoni will not be wearing the purple again.
His legion of admirers in Chennai are already counting down the days for his return from exile.
Watch for:
A Malinga special
If you go by the raw numbers, this has been the worst season of a storied and record-breaking IPL career – 10 wickets in 10 matches, and an economy rate of 9.10. But Malinga was superb in the loss to Pune, and on a Bangalore pitch that is far less bat-friendly than in previous seasons, neither Hyderabad nor Kolkata will be taking him lightly. The yorkers are starting to land, and he remains a skiddy menace.
Warner’s distraction
Barring a remarkable run spree from one of those trailing way behind his slipstream, David Warner will finish as the competition's leading run-scorer. This stop-start campaign – Hyderabad were as awesome at home as they were inept away – has seen Warner at his most focused, despite the fires burning back home. He has been one of the more vocal players in the standoff with Cricket Australia over a new payment structure, and his 604 runs have not hurt his prospects of a bumper IPL payday in 2018 should the impasse over the players wanting a fixed percentage of board revenue have a bad outcome.
The absence of the window
In its early years, the IPL authorities never pushed for a window that would allow players from all countries to play without having to pack up midway citing international commitments. Now, they are realising just how much those absences can diminish the event. Apart from Stokes, Pune are missing Imran Tahir, while Kolkata Knight Riders had to let go of Chris Woakes after he had played 13 games. England pair Stokes and Woakes are at a pre-series camp in Spain this week, and while Kevin Pietersen’s rant was over the top, it’s clear that something will have to give when contracts worth hundreds of millions of Rupees are involved.
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Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
WTL%20SCHEDULE
%3Cp%3EDECEMBER%2019%20(6pm)%0D%3Cbr%3EKites%20v%20Eagles%0D%3Cbr%3EAliassime%20v%20Kyrgios%0D%3Cbr%3ESwiatek%20v%20Garcia%0D%3Cbr%3EEntertainment%3A%20Tiesto%3C%2Fp%3E%0A%3Cp%3EDECEMBER%2020%20(6pm)%0D%3Cbr%3EFalcons%20v%20Hawks%0D%3Cbr%3EDjokovic%20v%20Zverev%0D%3Cbr%3ESabalenka%20v%20Rybakina%0D%3Cbr%3EEntertainment%3A%20Wizkid%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2021%20(6pm)%0D%3Cbr%3EFalcons%20v%20Eagles%0D%3Cbr%3EDjokovic%20v%20Kyrgios%0D%3Cbr%3EBadosa%20v%20Garcia%0D%3Cbr%3EEntertainment%3A%20Ne-Yo%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2022%20(6pm)%0D%3Cbr%3EHawks%20v%20Kites%0D%3Cbr%3EThiem%20v%20Aliassime%0D%3Cbr%3EKontaveit%20v%20Swiatek%0D%3Cbr%3EEntertainment%3A%20deadmau5%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2023%20(2pm)%0D%3Cbr%3EEagles%20v%20Hawks%0D%3Cbr%3EKyrgios%20v%20Zverev%0D%3Cbr%3EGarcia%20v%20Rybakina%0D%3Cbr%3EEntertainment%3A%20Mohammed%20Ramadan%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2023%20(6pm)%0D%3Cbr%3EFalcons%20v%20Kites%0D%3Cbr%3EDjokovic%20v%20Aliassime%0D%3Cbr%3ESabalenka%20v%20Swiatek%0D%3Cbr%3EEntertainment%3A%20Mohammed%20Ramadan%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2024%20(6pm)%0D%3Cbr%3EFinals%0D%3Cbr%3EEntertainment%3A%20Armin%20Van%20Buuren%0D%3Cbr%3E%0D%3C%2Fp%3E%0A
Email sent to Uber team from chief executive Dara Khosrowshahi
From: Dara
To: Team@
Date: March 25, 2019 at 11:45pm PT
Subj: Accelerating in the Middle East
Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.
Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.
I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.
This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.
It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.
Uber on,
Dara
BUNDESLIGA FIXTURES
Friday (UAE kick-off times)
Borussia Dortmund v Paderborn (11.30pm)
Saturday
Bayer Leverkusen v SC Freiburg (6.30pm)
Werder Bremen v Schalke (6.30pm)
Union Berlin v Borussia Monchengladbach (6.30pm)
Eintracht Frankfurt v Wolfsburg (6.30pm)
Fortuna Dusseldof v Bayern Munich (6.30pm)
RB Leipzig v Cologne (9.30pm)
Sunday
Augsburg v Hertha Berlin (6.30pm)
Hoffenheim v Mainz (9pm)
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.”
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Al Jazira's foreign quartet for 2017/18
Romarinho, Brazil
Lassana Diarra, France
Sardor Rashidov, Uzbekistan
Mbark Boussoufa, Morocco
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Fourth-round clashes for British players
- Andy Murray (1) v Benoit Paire, Centre Court (not before 4pm)
- Johanna Konta (6) v Caroline Garcia (21), Court 1 (4pm)
NBA FINALS SO FAR
(Toronto lead 3-2 in best-of-seven series)
Game 1 Raptors 118 Warriors 109
Game 2 Raptors 104 Warriors 109
Game 3 Warriors 109 Raptors 123
Game 4 Warriors 92 Raptors 105
Game 5 Raptors 105 Warriors 106
Game 6 Thursday, at Oakland
Game 7 Sunday, at Toronto (if needed)
MATCH INFO
Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia scheduled for October 10
