Onions heeds advice from Durham friends



On the day where one of the North East of England's greatest sons passed away, how poignant it should be that a young man from Durham came to the fore. Sir Bobby Robson, a keen cricket fan and a supporter of the county in which he was born and bred, had cast his eye over the precociously talented Graham Onions on more than one occasion in years past.

While Robson is perhaps one of the most loved and revered sporting achievers to have come out of the region, Onions is yet to write his chapter in the history books. That particular tale holds much potential if yesterday's performance is anything to go by as Onions, and the impressive James Anderson, combined to bowl out Australia at Edgbaston. At 26, Onions has taken his time to arrive on the international stage but having taken five wickets on debut against the West Indies at Lord's earlier in the summer, he is finally sensing that he belongs.

Two wickets in the opening two balls of the day set the tone for England as Onions finished the day with four precious wickets to Anderson's five. With the ball swinging and the Australian batsmen panicking, it was as if Ricky Ponting's side had been transported back to 2005. Then it was the Steve Harmison and Matthew Hoggard show which helped England claim that famous Ashes triumph. Any advice Harmison has passed on to his Durham protégé looks to have been heeded, despite the elder statesman having been replaced in the England set up. "I'm still learning from Steve Harmison," said Onions.

"He's had lots of ups and downs in his career so it's good to learn from him. For me to be involved with quality players like Steve, Paul Collingwood, who have played for England and Durham, has helped. "I've taken all their advice and stored it in my head and hopefully then I can just be Graham Onions. That advice will come in handy that's for sure. "Steve has wished me all the best and lots of luck. I've still got that hot head and I don't think I can change that. I'm aggressive to get my goals and targets. I used to channel my aggression in the wrong direction but I've improved that and hopefully that will help me focus."

A late developer, Onions is finally beginning to reap the rewards from his hard work away from the game. The seamer spent last winter in Australia undergoing a regimental training regime in a bid to regain full fitness following a hell injury - a decision which has propelled him into the limelight. "I think it's only in the last 18 months that I've realised that hard work can get you into the England team," he added. "I've worked hard to get where I am and it's beginning to pay off."

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Engine: 2.5-litre, turbocharged 5-cylinder

Transmission: seven-speed auto

Power: 400hp

Torque: 500Nm

Price: Dh300,000 (estimate)

On sale: 2022 

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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.”

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Who inspires you?

I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist

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Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.

What is favourite book?

The Perks of Being a Wallflower - I think I've read it more than 7 times

What is your favourite Arabic film?

Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki

What is favourite English film?

Mamma Mia

Best piece of advice to someone looking for a career at Google?

If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.  

 

What's in the deal?

Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024

India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.

India will also cut automotive tariffs to 10% under a quota from over 100% currently.

Indian employees in the UK will receive three years exemption from social security payments

India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery

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COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million