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PCB lifts ban on Malik

Shoaib Malik's one-year ban from international cricket is over after the Pakistan Cricket Board arbitrator quashed his suspension.

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Shoaib Malik's one-year ban from international cricket is over after the Pakistan Cricket Board arbitrator quashed his suspension. The PCB advocate Talib Rizvi said the cricket board had recommended to the arbitrator Irfan Qadir to rescind the ban, and he agreed to halve the fine on the former Pakistan captain to one million rupees ($11,750). "We (PCB) had watched Malik's attitude and conduct over the last three months and proposed that ban should be lifted," Rizvi told reporters after the hearing.

The PCB initally imposed the suspension and fine for ill discipline dring Pakistan's winless tour of Australia earlier this year. "Both parties had a reasonable stand, but it's my decision (to lift the ban and reduce the fine)," Qadir said. Malik is among six players who have filed appeals against the fines and suspensions. The selectors have already included Malik among 35 probables for next month's Asia Cup and twin test series against Australia and England.

"Malik is now free to be selected in any squad of Pakistan team, but we want the players to follow discipline in future," Rizvi said. Also, Younis Khan's appeal against an indefinite ban was adjourned until June 9 to allow his laywer Mohammad Ahmed Qayyum more time to consult his client. Qayyum was not happy after the arbitrator did not allow two independent observers to sit in today's hearing. "It was my client's request that two observers should be allowed to sit in the hearing, but the arbitrator did not allow it.

"I did try to contact Younis but couldn't contact him on telephone." Qayyum said the proceedings were unnecessarily delayed and Younis was being victimised. Younis and another former captain Mohammad Yousuf were indefinitely banned by the PCB for an alleged infighting which disturbed the team on the Australian tour. The Pakistan captain Shahid Afridi, wicketkeeper Kamran Akmal and his younger brother Umar have sent requests to Qadir for adjournments in their hearings against fines.

The arbitrator said he wanted to wrap up the hearings of players as quickly as possible. Afridi was fined three million rupees ($35,200) for ball tampering during the one-day series against Australia. wicketkeeper Akmal was fined three million rupees ($35,200) and his younger brother Umar was handed fine of two million rupees (US$23,500) for ill discipline. *AP

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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.

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Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

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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.

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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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Emergency phone numbers in the UAE

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

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Mr Al Qassimi is 37 and lives in Dubai
He is a keen drummer and loves gardening
His favourite way to unwind is spending time with his two children and cooking

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