Sangakkara blames batting failure for final heartbreak



LONDON // Sri Lanka's captain, Kumar Sangakkara, makes a point of treating the twin imposters of triumph and despair with equanimity. That is easier said than done, especially given the way in which his side - who had blazed an undefeated trail to a final in which they started as strong favourites - lost, not to mention the outside influences on his players.

Much has been made of the fact Pakistan's success at the World Twenty20 was a gift to their troubled people, to deliver them away from "bombs and death" for a while, at least. But the external factors weighing on Sri Lanka's players were no less serious. Every one of their matches was attended by a phalanx of protesters, appealing for international attention to the Tamil cause. As Pakistan's supporters revelled in their final glory, turning the Wellington and St John's Wood roads into scenes more reminiscent of Karachi or Lahore, the Sri Lankan protesters ploughed on.

The Grace Gates were locked shut as they positioned themselves opposite, shouting slogans and waving banners. A balloon, which was even visible from inside the ground during the play, above the Tavern Stand, carried the message: "Don't support genocide. Boycott Sri Lankan cricket." Sangakkara was unable to give his people the "gift" his counterpart, Younus Khan, had so proudly lavished on his compatriots.

"It is heartbreaking when you lose in the final, but Pakistan outplayed us," said Sangakkara, who did all he could in the final, repairing early damage with a neat half-century. "We have had a great tournament, unfortunately we couldn't get it right with our batting. "It was always tough for our bowling unit to keep defending totals right throughout the tournament when we probably could have scored 20 runs more.

"Hopefully we can get stronger, get better, learn from what we've done and we've got a lot more cricket coming up. We'll look forward to more cricket to toughen us up mentally and physically." Their troubles in the final were summed up by the blunting of the man who was supposed to be their main weapon, Ajantha Mendis. Kamran Akmal, Pakistan's wicketkeeper-batsman played the first two deliveries from the mystery spinner as if he had little clue as to what was going on. He then slogged the next into the Tavern Stand, and the die was cast.

Mendis, whose mastery over every opponent has been total so far in his year-long international career eventually sent down four overs for no wicket, and the concession of 34 runs. Seemingly for the first time since sending down a carom ball on the international stage, the smile had left his face. "They have seen a lot of Mendis over the last few months and they have learned, but he is still our star bowler. We back him 100 per cent against any side," added Sangakkara.

"He is used to winning matches for us, but unfortunately we didn't have enough runs on the board for him to have an impact." pradley@thenational.ae

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

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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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Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

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Liverpool v Barcelona, Tuesday, May 7, 11pm

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Uefa Champions League semi-final, first leg

Tottenham v Ajax, Tuesday, 11pm (UAE).

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

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Started: 2016

Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel 

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