Iqbal to play in T20 Cup


Paul Radley
  • English
  • Arabic

Faisal Iqbal, the Pakistan Test player, will be the star attraction at the Sharjah Ramadan Twenty20 Cup when he turns out for the Rufi Real Estate team. The competition has often been sprinkled with stardust in the past: last year Mohammed Sami, Iqbal's fellow Pakistani and one of the world's fastest bowlers, was the main draw.

Now Iqbal has been drafted in to play for the side of the tournament's main sponsors, Rufi - and he will not be last big player, according to the team captain Rameez Mansoor Rufi. "I can confirmed Faisal Iqbal will be playing for us, and I am hopeful of announcing a few more players in the next couple of days. "Hopefully I will have seven Test players in my team, with the others coming from first-class cricket in India and Sri Lanka. We think we can win it," said Rufi.

Iqbal initially rose to prominence mainly for being the nephew of one of Pakistan's finest ever players, Javed Miandad. However, he has also proven to be a player of substance in his own right and has scored centuries in both Test and one-day internationals for Pakistan. Iqbal will be in action at the Sharjah Stadium tomorrow night, when Rufi take on Al Barakah in the late match, starting at 10.40pm.

Another Pakistan batsman, Hasan Raza, is back to play for Eurocon, who he also represented last year. Raza has since established himself as one of Twenty20 cricket's most dangerous batsmen and as one of the top performers for the Lahore Badshahs in the Indian Cricket League. Emirates Islamic Bank won the opening match of the popular Sharjah tournament, which will be played throughout the holy month. Naeem Khan earned the man-of-the-match award after taking four wickets for three runs in the comfortable win over GCAI.

Ahmed Raza, the young left-arm spinner, reminded the UAE selectors of his talents with a miserly three-wicket haul for the victors. Raza, 19, has already played six first-class matches for the national team, and was a mainstay of the line-up until the start of the year, but is currently out of favour. pradley@thenational.ae

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

Final scores

18 under: Tyrrell Hatton (ENG)

- 14: Jason Scrivener (AUS)

-13: Rory McIlroy (NIR)

-12: Rafa Cabrera Bello (ESP)

-11: David Lipsky (USA), Marc Warren (SCO)

-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)

Company profile

Date started: December 24, 2018

Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer

Based: Dubai Media City

Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)

Sector: ConsumerTech and FinTech

Cashflow: Almost $1 million a year

Funding: Series A funding of $2.5m with Series B plans for May 2020

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UAE currency: the story behind the money in your pockets
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Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

'The Lost Daughter'

Director: Maggie Gyllenhaal

Starring: Olivia Colman, Jessie Buckley, Dakota Johnson

Rating: 4/5

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Remaining Fixtures

Wednesday: West Indies v Scotland
Thursday: UAE v Zimbabwe
Friday: Afghanistan v Ireland
Sunday: Final

BULKWHIZ PROFILE

Date started: February 2017

Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)

Based: Dubai, UAE

Sector: E-commerce 

Size: 50 employees

Funding: approximately $6m

Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait

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34 goals - Robert Lewandowski (68 points)

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*NOTE: Haaland's goals for Salzburg count for 1.5 points per goal. Goals for Dortmund count for two points per goal.

The schedule

December 5 - 23: Shooting competition, Al Dhafra Shooting Club

December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq

December 11 - 20: Dates competition, from 4pm

December 12 - 20: Sour milk competition

December 13: Falcon beauty competition

December 14 and 20: Saluki races

December 15: Arabian horse races, from 4pm

December 16 - 19: Falconry competition

December 18: Camel milk competition, from 7.30 - 9.30 am

December 20 and 21: Sheep beauty competition, from 10am

December 22: The best herd of 30 camels

Stage 2 results

Caleb Ewan (AUS) Lotto Soudal 04:18:18

Sam Bennett (IRL) Deceuninck-QuickStep 00:00:02

Arnaud Demare (FRA) Groupama-FDJ 00:00:04

4 Diego Ulissi (ITA) UAE Team Emirates

5 Rick Zabel (GER) Israel Start-Up Nation

General Classification

Caleb Ewan (AUS) Lotto Soudal 07:47:19

2 Sam Bennett (IRL) Deceuninck-QuickStep 00:00:12

3 Arnaud Demare (FRA) Groupama-FDJ 00:00:16

4 Nikolai Cherkasov (RUS) Gazprom-Rusvelo 00:00:17

5 Alexey Lutsensko (KAZ) Astana Pro Team 00:00:19

The%20specs
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'Nope'
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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.”