ABU DHABI // Australia's one-day series against Pakistan will go ahead here as planned, but Cricket Australia are to step up security following yesterday's terrorist attack on the Sri Lanka team in Lahore.
Australia pulled out of a tour of Pakistan last year because of security concerns. Five one-day internationals and a Twenty20 clash are to be played in Abu Dhabi and Dubai next month. Cricket Australia (CA) chief executive James Sutherland said the trip was still on pending routine security checks.
"We're scheduled to play against Pakistan in the UAE starting in late April, at this stage that tour will go ahead as planned," he said.
"Of course with any tour we play overseas, it is always subject to the latest security advice we have.
"We will go through our usual course of pre-tour visits ahead of that tour. Within that we reserve judgement at any stage if we feel it is not safe for our team to be in a certain place. We will take appropriate action and the appropriate steps just as we have in the past."
Sutherland said CA had every confidence in the security advice, but that the targeting of international cricketers in the Lahore attack would see even more focus on player security.
"We're very aware and very concerned about security issues surrounding our team, and to others. Other members of Cricket Australia staff travel overseas from time to time," he said.
"We need to be very aware and take the best possible advice. We have our own independent security consultants. We take the best advice we can from government and other sources.
"We won't in any way be stepping down, we will be stepping up in that."
Pakistan is one of four host countries for the 2011 World Cup, along with India, Sri Lanka and Bangladesh, and Sutherland admitted that would now have to be examined.
"Needless to say, there would obviously be security concerns about Pakistan, who are one of the four host nations for the 2011 World Cup. Let's see how that unfolds," he said.
The International Cricket Council (ICC) said it would review plans for the World Cup following the attack. Pakistan was scheduled to stage 14 games, with one of the semi-finals slated for the Gaddafi Stadium.
ICC chief executive Haroon Lorgat said there would now be urgent talks about whether to shift World Cup matches away from Pakistan in two years' time.
"In the next day or two we will have to make some serious decisions and we will," he said.
"We can be thankful there were not more fatalities.
"There obviously have been breaches and the security has not been good enough."
Cricket Australia also confirmed they have begun discussions to play their postponed Test tour of Pakistan in England in July 2010 as they seek a neutral venue for the contest in the wake of today's shooting in Lahore.
Australia have been reluctant travellers to Pakistan - they have not toured there since 1998.
Yesterday's events mean Test cricket is unlikely to return to Pakistan any time soon and CA spokesman Peter Young said the world's number one ranked team are in discussions with the Pakistan Cricket Board to play their postponed Test tour elsewhere.
While Young admitted those discussions were only at a premature stage, a three-Test series in England next July looks the most likely scenario.
Australia are due to tour England in June next year for five one-day internationals, with the Pakistan series likely to be played immediately after that.
Young revealed the England and Wales Cricket Board had also been included in discussions and were "comfortable" with a scenario that would see the series being held in the country.
Young said: "We are currently talking to Pakistan about playing Test cricket. Those discussions are a work in progress and I would not like to forecast a likely outcome.
"However, one option we have discussed with them is playing three Tests in England in mid-2010 or thereabouts after the ODIs we are due to play against England in England.
"I understand that England is, in principle, aware of and comfortable with that possibility, subject to details that might develop.
"However, as I say, that is a continuing discussion at the moment, I don't think it is possible to predict when the current discussions might be finalised, and I don't think it is possible to predict whether the above outcome or a completely different outcome might eventuate."
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TO A LAND UNKNOWN
Director: Mahdi Fleifel
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Rating: 4.5/5
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
MATCH INFO
Europa League final
Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports
UAE currency: the story behind the money in your pockets
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Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
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Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
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Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
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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 specs: 2018 Mercedes-Benz S 450
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Power: 369hp at 5,500rpm
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Fuel economy, combined: 8.0L / 100km
Other ways to buy used products in the UAE
UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.
Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.
Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.
For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.
Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.
At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
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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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
Six tips to secure your smart home
Most smart home devices are controlled via the owner's smartphone. Therefore, if you are using public wi-fi on your phone, always use a VPN (virtual private network) that offers strong security features and anonymises your internet connection.
Keep your smart home devices’ software up-to-date. Device makers often send regular updates - follow them without fail as they could provide protection from a new security risk.
Use two-factor authentication so that in addition to a password, your identity is authenticated by a second sign-in step like a code sent to your mobile number.
Set up a separate guest network for acquaintances and visitors to ensure the privacy of your IoT devices’ network.
Change the default privacy and security settings of your IoT devices to take extra steps to secure yourself and your home.
Always give your router a unique name, replacing the one generated by the manufacturer, to ensure a hacker cannot ascertain its make or model number.
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Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
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.