USA player Kevin Durant shown in action against China in a pre-Olympics warm-up match on Sunday. Mike Nelson / EPA / July 24, 2016
USA player Kevin Durant shown in action against China in a pre-Olympics warm-up match on Sunday. Mike Nelson / EPA / July 24, 2016

Rio 2016: Kevin Durant stars as ‘excellent’ USA basketball roll over China



Just two games into the United States basketball team’s pre-Olympic tour, coach Mike Krzyzewski already sees the start of something big.

Kevin Durant scored 19 points, Klay Thompson added 17 and the Americans rolled to a second straight blowout friendly victory, 106-57 over China on Sunday night.

DeMar DeRozan scored 13 points in his hometown Los Angeles, and DeMarcus Cousins had 12 points and seven rebounds in the second stop on the five-city tour leading the Americans to Rio de Janeiro. The victory against overmatched opponents was impressive, but Krzyzewski liked it more for the composed, cohesive manner in which the new teammates worked together.

“We should have won, but the way we won was excellent,” Krzyzewski said. “We’re really growing together as a group.”

After opening their showcase tour by trouncing Argentina in Las Vegas on Friday night, the US team posted another rout at a packed Staples Center. Krzyzewski is finding it difficult to disguise his early optimism, praising his team’s work in their brief practice time together.

And while they’re still learning their teammates’ tendencies and solidifying player rotations, the US looked remarkably connected for long stretches against China, who have no current NBA players, though they do boast 2016 draft picks Zhou Qi (Houston Rockets) and Wang Zhelin (Memphis Grizzlies).

Durant noticed it, as did Los Angeles Clippers centre DeAndre Jordan, who kicked off the festivities by blocking a shot on China’s first possession and throwing down an alley-oop dunk on the Americans’ first possession.

“We’ve only been together a week, but it seems like we’ve been teammates for years,” Jordan said.

Jordan scored 12 points and led a strong defensive effort with three blocks for the Americans, who held the Chinese to 30.9 per cent shooting. Krzyzewski believes the Americans will excel at defensive switching because of an abundance of versatile players.

“I think we’re learning more about one another, and our defence was there pretty much the whole game,” Krzyzewski said.

The US haven't lost a game since the 2006 world championships, winning 65 straight games. They're 47-1 in exhibitions since NBA stars took over the squad in 1992 with the famous "Dream Team", going undefeated since 2004.

While LeBron James, Stephen Curry and Kawhi Leonard all declined the chance to play in Rio, the Americans who accepted the opportunity appear to be serious about winning without some of the nation’s top stars.

“We’re young, but we’ve got a bunch of seasoned pros,” said Kyrie Irving, who had 10 points and four assists. “We’ve been on a lot of journeys, and we’ve crossed paths before, but now we’re all coming together at the right time.”

Four-time Olympian Carmelo Anthony was the only holdover in the Americans’ starting line-up from Las Vegas while Krzyzewski works on chemistry and coordination. He put Paul George in with the starters alongside Anthony, Jordan, Kyle Lowry and DeRozan, whose family watched from courtside.

Both teams had early shooting struggles, but the Americans took charge with impressive speed late in the first quarter.

Durant, one of the two returning American gold medallists from London, heard boos from the LA crowd during pre-game introductions after somewhat unpopularly signing with the Golden State Warriors this summer. He quickly found his outside stroke with 14 points and four assists in the first half, and Cousins overpowered the Chinese down low for 12 first-half points on the way to a 55-29 half-time lead.

The Chinese team’s most recognisable name to North Americans is Yi Jianlian, the Milwaukee Bucks’ choice with the No 6 overall pick in the 2007 draft. He spent five seasons with four NBA teams before heading back to the Guangdong Southern Tigers.

Yi led the Chinese with 18 points. Zhou Qi, the 7ft 2in centre taken by the Rockets in the second round of the draft last month, scored two points on 1-for-6 shooting. Exciting guard Zhao Jiwei of the Liaoning Flying Leopards scored 14 points.

The teams meet again Tuesday in Oakland, where Durant will play in front of his new home fans for the first time since defecting from Oklahoma City to the Golden State earlier this month.

They’ll also meet August 6 in the opening game of Olympic competition in Brazil.

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Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

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.”

Need to know

Unlike other mobile wallets and payment apps, a unique feature of eWallet is that there is no need to have a bank account, credit or debit card to do digital payments.

Customers only need a valid Emirates ID and a working UAE mobile number to register for eWallet account.

TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.

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