Political rows cast a lengthy shadow


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It is a staggering fact of Super 14 that in the past three years South African teams have managed to win just 12 of 67 matches in Australasia; a sorry return of less than 18 per cent. That percentage was boosted by results that went the way of the Pretoria Bulls (still the only unbeaten team in this season's tournament) and the Natal Sharks, who both pulled off splendid away wins at the weekend. Yet these successes don't gloss over simmering unhappiness in South Africa over the Super 14 and indeed the Sanzar alliance itself.

South African teams have long complained about the inherent bias of the competition that frequently sees teams from the republic having to travel overseas for four or five weeks. Teams from Australia and New Zealand have no such impediment thanks to their convenient geography. The latest row has been brought into sharp focus by the standoff between Australia and South Africa. Both countries want an extra team in an expanded competition, but there's room for only one.

Inviting a team from Japan or the Pacific Islands has also been mooted. Moreover, Australia want a later start to the tournament, a move that would compromise South Africa's robust Currie Cup provincial competition. South Africa is standing firm, strengthened by the knowledge that their TV revenue towards Sanzar constitutes a far larger chunk than that of its two partners. To say there's been a fair bit of anger around the issue is being diplomatic. Relations are said to be deeply fractured and near breaking point.

One area in which the three countries have reached broad consensus is around the laws, more commonly known as the ELVs (Experimental Law Variations). Most haven't worked and have served only to dilute the good standard of the Super 14. Take Friday's match between the Bulls and the Hurricanes in which pedantic referee Matt Goddard saw fit to award 35 penalties in the first 20 minutes, not to mention the five players he sent to the sin-bin.

The most remarkable result of the weekend was the Johannesburg Lions defeat of the CA Brumbies in Johannesburg, the first win for the Lions over the Australian team in five seasons. The Canberra franchise are terrible on the road, but expectations were that they would be too strong for the Lions, who hit the headlines after their forwards coach, Leon Boshoff, was suspended for allegedly making racist remarks to the team's black players after the defeat to the Cape Town Stormers.

Boshoff is believed to have launched a tirade against the team, singling out a number of black players. He allegedly remarked that they were not good enough but would not have to worry because their skin colour guaranteed selection. This precipitated a flood of bad publicity, coach Eugene Eloff remarking that it had been the toughest week of his life as a rugby coach. Too true. The rumour mill had it that failure against the Brumbies would have him sacked.

Instead, the axe is likely to fall on Boshoff when he faces a disciplinary hearing today. If the Lions remain under-powered, what of the Cheetahs? Still winless in 2009, there's a growing clamour for them to be killed off. It's a harsh call for a small franchise that produces fine players, but there are powerful political imperatives to create a Super 14 team that serves the traditional hotbed of black rugby in the Eastern Cape.

Already named the Southern Kings, their first match will be against the British and Irish Lions in June. Whether fair or not, political expedience could yet be the death knell of the Cheetahs. @Email:sports@thenational.ae

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Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon

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The more serious side of specialty coffee

While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.

The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.

Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”

One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.

Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms. 

About Takalam

Date started: early 2020

Founders: Khawla Hammad and Inas Abu Shashieh

Based: Abu Dhabi

Sector: HealthTech and wellness

Number of staff: 4

Funding to date: Bootstrapped

ANALYSTS’ TOP PICKS OF SAUDI BANKS IN 2019

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Analyst: Shabbir Malik of EFG-Hermes

Top pick: Al Rajhi Bank

Reason: Defensive balance sheet, well positioned in retail segment and positively geared for rising rates

 

Analyst: Chiradeep Ghosh of Sico Bank

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SERIE A FIXTURES

Saturday Spezia v Lazio (6pm), Juventus v Torino (9pm), Inter Milan v Bologna (7.45pm)

Sunday Verona v Cagliari (3.30pm), Parma v Benevento, AS Roma v Sassuolo, Udinese v Atalanta (all 6pm), Crotone v Napoli (9pm), Sampdoria v AC Milan (11.45pm)

Monday Fiorentina v Genoa (11.45pm)

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Alibaba’s new ‘Tech Town’  in Dubai is worth... $600m

China’s investment in the MIddle East in 2016 was... $29.5bn

The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn

Boost to the UAE economy of 5G connectivity will be... $269bn 

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Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets. 

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Second Test at Antigua
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Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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20 - Ross Fisher (ENG)

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The Lowdown

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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.”

The Saga Continues

Wu-Tang Clan

(36 Chambers / Entertainment One)

Dubai World Cup nominations

UAE: Thunder Snow/Saeed bin Suroor (trainer), North America/Satish Seemar, Drafted/Doug Watson, New Trails/Ahmad bin Harmash, Capezzano, Gronkowski, Axelrod, all trained by Salem bin Ghadayer

USA: Seeking The Soul/Dallas Stewart, Imperial Hunt/Luis Carvajal Jr, Audible/Todd Pletcher, Roy H/Peter Miller, Yoshida/William Mott, Promises Fulfilled/Dale Romans, Gunnevera/Antonio Sano, XY Jet/Jorge Navarro, Pavel/Doug O’Neill, Switzerland/Steve Asmussen.

Japan: Matera Sky/Hideyuki Mori, KT Brace/Haruki Sugiyama. Bahrain: Nine Below Zero/Fawzi Nass. Ireland: Tato Key/David Marnane. Hong Kong: Fight Hero/Me Tsui. South Korea: Dolkong/Simon Foster.