UAE coach Aaqib Javed, centre, will lead his team in the qualifier tournament aiming to reach the 2016 Asia Cup. Indranil Mukherjee / AFP
UAE coach Aaqib Javed, centre, will lead his team in the qualifier tournament aiming to reach the 2016 Asia Cup. Indranil Mukherjee / AFP
UAE coach Aaqib Javed, centre, will lead his team in the qualifier tournament aiming to reach the 2016 Asia Cup. Indranil Mukherjee / AFP
UAE coach Aaqib Javed, centre, will lead his team in the qualifier tournament aiming to reach the 2016 Asia Cup. Indranil Mukherjee / AFP

UAE to take on Afghanistan, Hong Kong and Oman for place at 2016 Asia Cup


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The UAE will be one of four teams fighting for a chance to participate against the likes of India and Pakistan in the 2016 Asia Cup.

For the first time, and in a bid to retain its relevance, the Asia Cup will be a Twenty20 tournament. The four-team qualifier, which will include Oman, Afghanistan and Hong Kong, will also be a Twenty20 event.

According to a report on ESPNcricinfo, the qualifier will be held in November in the UAE. But an Asian Cricket Council (ACC) official told The National neither the dates or the venue were confirmed yet; he did acknowledge, however, that the UAE was under consideration as a venue given the existence of a world-class cricket infrastructure.

The ACC had announced in April that there would be a qualifier for Associates for the 2016 and 2018 Asia Cup (which will also be a Twenty20 event) but had not given details of who would contest. The ACC official said the top four countries according to the ICC’s Twenty20 rankings had qualified for the qualifier. Oman’s recent and surprising surge has seen them edge out Nepal, an Associate success story over the last few years.

November makes sense logistically as Hong Kong will be in the country for a four-day match against the UAE in the Intercontinental Cup. Afghanistan will also be here, for a game against Papua New Guinea.

The venue of the Asia Cup is not yet decided and though the dates are tentatively scheduled for the first week of March. The World T20, to be played in India and for which Afghanistan and Oman have qualified, follows soon after.

Chances for Associate nations to take part in the Asia Cup have, historically, been limited. Afghanistan were invited to play in the main tournament in 2014, where they defeated Bangladesh. A decision on venues, both for the qualifier and the main tournament, is expected this month.

For the UAE, the qualifier will be a chance to play on the big stage one again, having missed out on qualification for the World Twenty20. The national side did play in the 2015 World Cup and the group stages of the 2014 World Twenty20. If they do qualify, it will be their third appearance at the Asia Cup, after 2004 and 2008.

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Brief scores:

Manchester City 3

Aguero 1', 44', 61'

Arsenal ​​​​​1

Koscielny 11'

Man of the match: Sergio Aguero (Manchester City)

The years Ramadan fell in May

1987

1954

1921

1888

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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Empty Words

By Mario Levrero  

(Coffee House Press)
 

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The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

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Price: From Dh117,059

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199

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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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EGrowdash%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJuly%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESean%20Trevaskis%20and%20Enver%20Sorkun%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ERestaurant%20technology%0D%3Cbr%3E%3Cstrong%3EFunding%20so%20far%3A%3C%2Fstrong%3E%20%24750%2C000%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Plus%20VC%2C%20Judah%20VC%2C%20TPN%20Investments%20and%20angel%20investors%2C%20including%20former%20Talabat%20chief%20executive%20Abdulhamid%20Alomar%2C%20and%20entrepreneur%20Zeid%20Husban%3C%2Fp%3E%0A

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)