Rajasthan 162-7, 20 ov (Faulkner 46, Smith 33, Hooda 30; Anureet 3-23, Johnson 2-34)
Punjab 136-8, 20 ov (Vijay 37, Bailey 24, Axar 24; Faulkner 3-26, Southee 2-36)
James Faulkner continued from where he left off in the cricket World Cup last month when the Australia all-rounder scored a quickfire 46 and took three wickets as Rajasthan Royals beat Kings XI Punjab by 36 runs on Friday night.
After being sent in by Punjab, the Royals got off to a poor start, losing their first three wickets for just 35. But Steve Smith, another Australian in fine form, repaired some of the damage as he scored a patient 33. Standing in for captain Shane Watson, Smith set the tempo for teammates Deepak Hooda and Faulkner as they posted a competitive 162 for seven in their 20 overs.
Tim Southee, the fast bowler who performed brilliantly for New Zealand at the World Cup, gave Rajasthan the inroads they needed before Faulkner ran in to finish the job.
The left-arm seamer sent the dangerous Glenn Maxwell, captain George Bailey and Mitchell Johnson – all Australians – back to the pavilion, by which time it was game over for the Kings XI.
Rajasthan player reports approach to fix match
Meanwhile, a Rajasthan Royals player in India’s lucrative domestic cricket league was offered money to influence a game last month but reported the approach to the country’s board, the team said on Friday.
The player, who was not named, was offered money by a state teammate if he followed a “pre-decided pattern of play”, the Indian Express newspaper reported.
Confirming the approach, the Rajasthan franchise said the player immediately reported the incident to the Board of Control for Cricket in India’s (BCCI) Anti-Corruption and Security Unit.
“Over a month ago, a player from Rajasthan Royals was approached inappropriately by a player (who was not part of the IPL) in connection with the Indian Premier League 2015 matches,” Rajasthan chief executive Raghu Iyer said in a statement.
“Rajasthan Royals commends the player for having reported this incident immediately and for his honesty and uprightness. His dedication to maintain the highest standards of integrity needs to be lauded.”
BCCI secretary Anurag Thakur confirmed the player had informed the anti-corruption unit about the incident.
“A player was approached and he immediately intimated BCCI anti-corruption unit. Glad that BCCI education policy showing positive results,” Thakur said on Twitter. “Players are alert and they know what is to be done due to our regular education efforts.”
Rajasthan are all too aware about the threat of match-fixing after former India paceman Shanthakumaran Sreesanth and teammates Ajit Chandila and Ankeet Chavan were arrested in 2013 on suspicion of taking money to concede a fixed number of runs.
Sreesanth, who denied any wrongdoing, was subsequently banned for life by the BCCI.
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Virtuzone GCC Sixes
Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
Time Matches start at 9am
Groups
A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; C Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
RESULTS
6pm: Mazrat Al Ruwayah – Group 2 (PA) $40,000 (Dirt) 1,600m
Winner: AF Alajaj, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
6.35pm: Race of Future – Handicap (TB) $80,000 (Turf) 2,410m
Winner: Global Storm, William Buick, Charlie Appleby
7.10pm: UAE 2000 Guineas – Group 3 (TB) $150,000 (D) 1,600m
Winner: Azure Coast, Antonio Fresu, Pavel Vashchenko
7.45pm: Business Bay Challenge – Listed (TB) $100,000 (T) 1,400m
Winner: Storm Damage, Patrick Cosgrave, Saeed bin Suroor
20.20pm: Curlin Stakes – Listed (TB) $100,000 (D) 2,000m
Winner: Appreciated, Fernando Jara, Doug O’Neill
8.55pm: Singspiel Stakes – Group 2 (TB) $180,000 (T) 1,800m
Winner: Lord Glitters, Daniel Tudhope, David O'Meara
9.30pm: Al Shindagha Sprint – Group 3 (TB) $150,000 (D) 1,200m
Winner: Meraas, Antonio Fresu, Musabah Al Muhairi
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Call of Duty: Black Ops 6
Developer: Treyarch, Raven Software
Publisher: Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5
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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