Pakistani cricketer Younis Khan smiles during a press conference in Lahore, Pakistan, on April 8, 2017. Fareed Khan / AP
Pakistani cricketer Younis Khan smiles during a press conference in Lahore, Pakistan, on April 8, 2017. Fareed Khan / AP
Pakistani cricketer Younis Khan smiles during a press conference in Lahore, Pakistan, on April 8, 2017. Fareed Khan / AP
Pakistani cricketer Younis Khan smiles during a press conference in Lahore, Pakistan, on April 8, 2017. Fareed Khan / AP

Pakistan Test king Younis Khan to follow Misbah-ul-Haq into retirement


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Pakistan’s most prolific Test batsman Younis Khan will quit international cricket after the three-Test series in West Indies starting later this month, the 39-year-old said on Saturday.

Younis’ announcement comes after captain Misbah-ul-Haq said on Thursday that the Caribbean tour will be his last.

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■ More: Misbah-ul-Haq rescued Pakistan cricket at its lowest point and led it to great heights

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“People are calling me and asking me not to make any announcement to leave but now is the time,” the former captain said in Karachi.

“No player always remains fit, the motivation never remains the same, so this is the time when Younis should leave the field after the upcoming series in West Indies.”

Younis has played 115 Tests and is Pakistan’s most successful runs scorer in Test cricket. He heads into the West Indies tour needing 23 runs to become his country’s first batsman to score 10,000 Test runs.

“I always tried to be a good ambassador and serve my country to take it one step forward,” Younis added.

“I hope I will be supported so I can complete 10,000 runs before I retire.”

In 2009, Younis hit his best Test score of 313 against Sri Lanka, which is the third-highest from a Pakistan batsman in the longest format.

Later that year, he led his country to a World T20 win at Lord’s where they defeated Sri Lanka to lift the trophy.

Younis played 265 one day international and bagged 7249 runs before he retired in 2015. He also played 25 Twenty20 matches for his country.

The batsman was named one of the five Wisden Cricketers of the Year along side Misbah earlier this week, after bagging a double-century during Pakistan 2-2 drawn Test series in England last year.

Earlier this year, Younis became the first batsman ever to score centuries in all 11 countries that have hosted Tests after completing his set with a maiden ton in Australia.

* Reuters

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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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Eyasses squad

Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)

Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)  

Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)

Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)

Jemma Eley – goal attack / wing attack (Dubai College)

Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)

Molly Fuller – goal attack / wing attack (Dubai College)

Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)

Noorulain Hussain – goal defence / wing defence (Dubai College)

Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)

Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)         

Eliza Petricola – wing attack / centre (Dubai English Speaking College)