Steyn and Fourie back in favour



Peter de Villiers, the South Africa coach, has recalled World Cup winners Francois Steyn and Jaque Fourie to the backline for Saturday's Tri Nations Test against Australia in Pretoria. Steyn was named at full-back in place of Gio Aplon after returning from Racing Metro, his club in France. Fourie replaces Juan de Jongh at outside centre, after being banned for four weeks for a dangerous tackle against Australia in Brisbane earlier this month.

Fourie said he was excited about playing again with long-time midfield partner Jean de Villiers. "It's great to be back with Jean," Fourie said. "It's been a long time since we played next to each other - the last time was in last year's Tri Nations. "It's gone well in training and, as a combination, we'll just try to keep it simple, get over the advantage line and keep our forwards in the game." The coach kept faith with the forwards who produced a much-improved display of intensity, physicality and accuracy at the breakdowns in the last-minute 29-22 loss to New Zealand last weekend.

The Springboks had been 22-17 up with three minutes to go before conceding two late tries. The 2009 southern hemisphere champions have not won any of their matches in this year's competition, and have struggled to match the tempo at which New Zealand, the new champions, and the Wallabies have played. "We've got two games now against Australia and we can certainly pick ourselves up," John Smit, the captain, told a news conference in Pretoria yesterday.

"If we can forge the same intensity and urgency we showed last weekend, then we can limit the way they want to play." Meanwhile, the doctor involved in English rugby's fake blood scandal said she cut the lip of Tom Williams, the Harlequins winger, after he pretended to be injured in a Heineken Cup match last year. Williams had bitten on a capsule of fake blood to force a late blood replacement substitution during the English Premiership club's quarter-final loss to Leinster in April 2009.

His departure allowed Nick Evans, a specialist goalkicker, to take the field in his place to try to kick a winning drop goal. The player told a disciplinary hearing of the General Medical Council (GMC) that he had become "extremely panicked" and twice asked Wendy Chapman, the club doctor, to cut him after officials questioned his apparent injury. Mary O'Rourke, representing Chapman, who was suspended by the General Medical Council in September pending a formal investigation into allegations that she brought the profession into disrepute, said she had made the incision with a stitch cutter in the treatment room.

The doctor admitted the majority of the charges against her but denied misconduct in telling match officials that the player, who was banned for four months after confessing to the deception, also had a loose tooth. Michael Hayton, representing the GMC, accepted Chapman had no involvement in planning the incident. "When Tom Williams came off it was apparent to a number of people that what was coming from his mouth was not blood and it led to disquiet from Leinster officials, as they saw it was a ruse to bring back on Nick Evans," he said.

"What then took place is that the doctor examined Tom Williams and said he had a loose tooth in the presence of others," continued Hayton. "Then at the request of the player she cut his lip with a stitch cutter to cause an injury. * Agencies

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

COMPANY%20PROFILE
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if you go

The flights

Emirates offer flights to Buenos Aires from Dubai, via Rio De Janeiro from around Dh6,300. emirates.com

Seeing the games

Tangol sell experiences across South America and generally have good access to tickets for most of the big teams in Buenos Aires: Boca Juniors, River Plate, and Independiente. Prices from Dh550 and include pick up and drop off from your hotel in the city. tangol.com

 

Staying there

Tangol will pick up tourists from any hotel in Buenos Aires, but after the intensity of the game, the Faena makes for tranquil, upmarket accommodation. Doubles from Dh1,110. faena.com

 

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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.”

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 
THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now