CC Sabathia pitches against the New York Mets on Friday night. His performance demonstrated that he was back to full fitness after injury.
CC Sabathia pitches against the New York Mets on Friday night. His performance demonstrated that he was back to full fitness after injury.
CC Sabathia pitches against the New York Mets on Friday night. His performance demonstrated that he was back to full fitness after injury.
CC Sabathia pitches against the New York Mets on Friday night. His performance demonstrated that he was back to full fitness after injury.

Sport

Sabathia proves fitness as he frustrates the Mets

CC Sabathia silences all doubt concerning his arm injury, firing seven strong innings to lead the Yankees to victory over their New York rivals.

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CC Sabathia silenced all doubt concerning his arm injury, firing seven strong innings to lead the New York Yankees to a 9-1 victory over the New York Mets in Interleague action on Friday. Sabathia, who withdrew from last Sunday's start after just one and a third innings, returned to form by striking out eight batters and allowing just one run.

Alex Rodriguez pounded a home run to right field in the eighth inning to surpass Reggie Jackson on the all-time list with the 564th of his career, after the Yankees capitalised on early errors by the Mets for their third successive win. It was the second consecutive one-sided win of the Subway Series after the Yankees routed the Mets 15-0 in the last meeting between the teams June 14. This time, lead-off hitter Brett Gardner recorded five hits and three runs for the Yankees, who scored four runs in the second inning when the Mets committed three errors.

Throwing miscues by Alex Cora and Nick Evans, put the Mets 4-0 down. The Mets starter Mike Pelfrey pitched five innings and was only charged for two of the runs. The Yankees tacked on three in the eighth, where Rodriguez and Gardner homered, and added two in the ninth. Meanwhile in other action, Josh Beckett threw seven scoreless innings while David Ortiz homered as American League East leaders Boston Red Sox beat the Atlanta Braves 4-1.

Beckett allowed six hits and struck out six while Ortiz struck his eighth homer of the season in the fifth. Miguel Tejada hit a double and drove in two runs as the Houston Astros rallied for a 5-4 win over the Detroit Tigers. Detroit had led 4-0 by the second inning before Tejada doubled in the third and drove in the winning run in the eighth. David Murphy hit a three-run home run as the Texas Rangers eased to a 12-2 victory over the San Diego Padres.

Geovany Soto struck a three-run homer to guide the Chicago Cubs to their first win in five games with a 5-4 victory over the Chicago White Sox. The Los Angeles Angels produced their biggest inning of the season to power past the Arizona Diamondbacks 12-3. Tori Hunter struck a two-run home run in an eight-run second inning blitz. * PA Sport

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.”

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

UAE players with central contracts

Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.

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The specs: 2018 Mazda CX-5

Price, base / as tested: Dh89,000 / Dh130,000
Engine: 2.5-litre four-cylinder
Power: 188hp @ 6,000rpm
Torque: 251Nm @ 4,000rpm
Transmission: Six-speed automatic
​​​​​​​Fuel consumption, combined: 7.1L / 100km

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