Marlon Samuels improved his career-best score by more than double.
Marlon Samuels improved his career-best score by more than double.
Marlon Samuels improved his career-best score by more than double.
Marlon Samuels improved his career-best score by more than double.

Samuels makes most of flat track with double-hundred


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KHULNA // Marlon Samuels more than doubled his Test best score as West Indies dominated the third day of the second Test against Bangladesh.

Samuels rode his luck to a maiden double century as the visitors seized control on a lifeless pitch. Shivnarine Chanderpaul was unbeaten on 109 as the visitors reached 564 for four at the close of play, a lead of 177 runs.

Samuels, whose previous best was 123 against New Zealand in Kingston in August, resumed yesterday on 109, and was the last man out in the final session. He added 326 runs for the third wicket with Darren Bravo (127).

The stand between Samuels and Bravo was the highest for West Indies for any wicket against Bangladesh, surpassing Chanderpaul and Denesh Ramdin's unbroken 296 in the previous Test in Dhaka.

Bravo, who was unbeaten on 85 overnight, also completed his century, his fourth in Tests, before off-spinner Sohag Gazi trapped him lbw.

Samuels made Bangladesh pay heavily after Naeem Islam dropped the right-handed batsman on 117 off Abul Hasan at slip.

Left-arm spinner Shakib Al Hasan beat Samuels on 167 for the ball to hit the stumps but to Bangladesh's dismay the bails remained unmoved.

Paceman Rubel Hossain had a strong lbw appeal turned down against Samuels, on 191, on the first ball after the tea break and was again unlucky when Samuels edged him in his next over between the first slip fielder Shahriar Nafees and wicketkeeper Mushfiqur Rahim for a boundary.

Samuels, who hit 31 fours and three sixes, flicked Rubel away for a single to complete his double-century and looked well set for a triple before a tired-looking shot off the same bowler ended his knock with substitute fielder Elias Sunny completing the catch.

"It is most definitely disappointing," Samuels told reporters. "Nevertheless, a double-century is a big milestone. I have to work with it and enjoy to the fullest.

"The way Bangladesh are playing on this pitch, they are continuing to put everyone in the boundary. They wanted me to go over the top consistently.

"There's a lot of singles to take, I don't mind until the mid-on and mid-off come up and I take the chance going over the top."

Wicketkeeper Ramdin (four not out) was at the crease for West Indies with Chanderpaul, who compiled his second century in the series having notched up a career-best unbeaten 203 in the first Test.

West Indies won the first Test in the two-match series by 77 runs.

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COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
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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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HIJRA

Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy

Director: Shahad Ameen

Rating: 3/5

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Company profile

Name: Fruitful Day

Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie

Based: Dubai, UAE

Founded: 2015

Number of employees: 30

Sector: F&B

Funding so far: Dh3 million

Future funding plans: None at present

Future markets: Saudi Arabia, potentially Kuwait and other GCC countries

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First Person
Richard Flanagan
Chatto & Windus 

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