Graeme Smith, the South Africa captain, has played down the frenzy around the Australia fast bowler Mitchell Johnson ahead of the second Test, which starts at St George’s Park on Thursday.
Johnson destroyed the South African batting, in the first Test at Centurion, with match figures of 12 for 127, spearheading Australia to a 281-run win.
“It’s important not to get caught up in the hype,” Smith said. “Obviously, Mitchell bowled extremely well and bowled aggressively. We all know that creates headlines, stories and fanfare. There’s huge respect in our team for someone who is performing well but it’s important for us to focus on getting our skills right.”
Smith said neither he nor his team have paid special attention to Johnson.
Smith faced four balls from Johnson in the first Test and was dismissed twice.
“I’ve faced Mitchell a lot of times where he’s had the better of me and times where I have had the better of him. The wicket at Centurion with the new ball and the cracks played a really important role.
“We’ve had a general group discussion on areas that we want to improve. We haven’t watched any more video or anything different than we did before the first Test.
“I can watch videotapes of me scoring hundreds against Mitchell Johnson. Every player here has had success against this attack, not so long ago.”
The South African captain said his team had prepared well as they set out to reverse a crushing defeat in the first Test.
“I believe our mindsets and our game plans are good. Ultimately, it’s about walking the walk now and going out over the next five days and being able to produce the performances to show that,” he said.
Smith said South Africa would put their experiences in the first Test to good use.
“It’s a fairly quick turnaround which I believe is a good thing. We’ve got straight back into our work and had some good discussions,” he said.
Sri Lanka expect ‘close game’ with Bangladesh in second ODI
Sri Lanka will not take Bangladesh lightly on Thursday in the second one-day international (ODI) in Dhaka as they look to clinch a series victory.
Having already won the Test series between the two on the tour, Sri Lanka won the first ODI in the three-match series against Bangladesh by 13 runs on Monday.
That victory came despite Sri Lanka having slipped to 67 for eight in their innings, before they staged a recovery to reach 180 and Bangladesh fell short in reply.
Paul Farbrace, the Sri Lanka coach, said of their opponents: “I don’t think Bangladesh lack belief. It is just about winning a close game. It is amazing how your team flies from there. They will be off and running from there.”
Sri Lanka will be without the bowler Nuwan Kulasekara for Thursday’s game due to a hamstring injury that he picked up in Monday’s victory. The third ODI takes place on Saturday, also in the Bangladesh capital.
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The Bio
Favourite place in UAE: Al Rams pearling village
What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft
Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
Best time to swim in the sea: When there is enough light to see beneath the surface
Company Profile
Company name: OneOrder
Started: October 2021
Founders: Tamer Amer and Karim Maurice
Based: Cairo, Egypt
Industry: technology, logistics
Investors: A15 and self-funded
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The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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.”
More from Neighbourhood Watch
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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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.
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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'Of Love & War'
Lynsey Addario, Penguin Press