LeBron James of the Los Angeles Lakers dribbles the ball against Kelly Oubre Jr of the Golden State Warriors. AFP
LeBron James of the Los Angeles Lakers dribbles the ball against Kelly Oubre Jr of the Golden State Warriors. AFP
LeBron James of the Los Angeles Lakers dribbles the ball against Kelly Oubre Jr of the Golden State Warriors. AFP
LeBron James of the Los Angeles Lakers dribbles the ball against Kelly Oubre Jr of the Golden State Warriors. AFP

LeBron James' triple-double leads Lakers to rout of Warriors


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LeBron James recorded the 98th triple-double of his career and Montrezl Harrell scored 15 of his team-high 27 points in the second quarter Monday night, during which the Los Angeles Lakers pulled away from the Golden State Warriors en route to a 128-97 victory in San Francisco.

The win allowed the Lakers to win the season series 2-1 from their Pacific Division rival, which is potentially significant in that the team that won the last six series between the two went on to reach the NBA Finals, claiming four championships.

The game was tied 29-all in the first minute of the second period before Harrell helped the Lakers take command for good.

First, he contributed two hoops and three free throws to a 13-3 burst that allowed the visitors to build their first double-digit lead at 42-32.

Later, he provided the first four points in a 17-8 finish to the quarter that turned a six-point game into a 65-50 halftime advantage.

The Warriors, who were coming off an impressive home win over Utah one day earlier, could get no closer than 12 in the second half.

James' triple-double, his fourth of the season, consisted of 22 points and game highs of 10 rebounds and 11 assists. He ranks fifth on the NBA's all-time list for triple-doubles, needing nine to tie Jason Kidd for fourth.

Harrell made 11 of his 14 shots off the bench on a night when the Lakers shot 62.8 percent.

Talen Horton-Tucker (18), Kyle Kuzma (17) and Kentavious Caldwell-Pope (14) also scored in double figures for the Lakers, who return home to face the Minnesota Timberwolves on the second night of a back-to-back on Tuesday.

Stephen Curry scored 27 points to lead the Warriors, who lost for the fifth time in their past six games.

Andrew Wiggins chipped in with 15 points, Jordan Poole 14, Kelly Oubre Jr. 12 and Nico Mannion 10 for Golden State, which was limited to 43 percent shooting. James Wiseman grabbed a team-high eight rebounds while Draymond Green led the team with seven assists.

--Field Level Media

In numbers

1,000 tonnes of waste collected daily:

  • 800 tonnes converted into alternative fuel
  • 150 tonnes to landfill
  • 50 tonnes sold as scrap metal

800 tonnes of RDF replaces 500 tonnes of coal

Two conveyor lines treat more than 350,000 tonnes of waste per year

25 staff on site

 

The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

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The five pillars of Islam

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.”