Michael Clarke and David Warner's centuries in the first Ashes Test spurred Australia to a commanding victory. William West / AFP
Michael Clarke and David Warner's centuries in the first Ashes Test spurred Australia to a commanding victory. William West / AFP

‘We have no reason to brag’ says Clarke ahead of second Ashes Test



ADELAIDE, Australia, Dec 04, 2013 (AFP) -

Captain Michael Clarke Wednesday told his Australian team not to gloat after their emphatic first Ashes Test victory over England, and focus on winning again in the second match in Adelaide.

The Australians trounced the Ashes holders by 381 runs in the opening clash at the Gabba for their first Test win over England in almost three years to make the early running in the five-Test series.

Skipper Alastair Cook admitted his England side were “totally outplayed” in Brisbane, but Clarke urged his team to stay grounded heading into what is shaping up as a crucial Test in the series on Thursday.

England fought back to draw the opening Test of the corresponding series in Brisbane three years ago before thumping Australia by an innings and 71 runs in Adelaide and going on to take the series 3-1.

Clarke said the Australia side was a long way from being the team they wanted to be.

“I’m excited by the way we played in Brisbane. But, if you look at our results over the past 12 months, we have no reason to brag, or gloat or be over the top,” he told reporters.

“We’ve got a lot of work to do. Every single player, their feet are well and truly on the ground.

“Our celebration after Brisbane wasn’t anything like I’ve seen Australian teams celebrate when we’ve had big wins like that.

“I think that’s because everybody knows we’re a long way from being the team we want to be. It’s only one Test win and we’ve got some work to do in this second Test and throughout the series.”

Clarke named an unchanged team for Adelaide, the first time he has been able to do so since the corresponding match last summer against South Africa.

“We looked at the wicket and thought about the extra bowling option with James Faulkner in the team,” he said.

“But having Wato (Shane Watson) there, who is back to 100 percent fit, and capable of bowling in both innings is a real positive for the team.

“We’ve seen through his career that his overs are crucial for this team. On good flat wickets like this wicket looks here I think his bowling is going to be very handy not just for taking wickets but also building pressure from one end.”

Clarke vowed to maintain the same hard-nosed approach that Australia used to damaging effect against England at the Gabba.

The skipper was fined 20 percent of his match fee for threatening England tailender James Anderson with a broken arm in the first Test, while Cook was upset at opening batsman David Warner calling his team frightened, singling out batsman Jonathan Trott as “weak”.

Trott withdrew from the Ashes tour after the first Test to deal with what was widely reported to be depression.

“We’ll continue to play a tough brand of cricket on the field, but as we’ve all said, we know there’s a line you can’t cross,” Clarke said.

“The respect hasn’t changed one bit. We still have the ultimate respect for our opposition. They’re a very tough team.

“I think you’ll see the England team come out bigger and stronger after losing in Brisbane and make it a real tough challenge for us in Adelaide.”

Clarke said he was fit to play after turning his ankle during training on Monday. He batted in the nets Wednesday and reported no problems.

“The ankle feels fine,” Clarke said. “I think not training yesterday obviously gave me an extra day.... I feel fine”.

Australia: David Warner, Chris Rogers, Shane Watson, Michael Clarke (capt), Steve Smith, George Bailey, Brad Haddin, Mitchell Johnson, Peter Siddle, Ryan Harris, Nathan Lyon, James Faulkner (12th man)

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Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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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

The Light of the Moon

Director: Jessica M Thompson

Starring: Stephanie Beatriz, Michael Stahl-David

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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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- Start with a simple recipe such as yogurt or sauerkraut

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