Osman Samiuddin
The ongoing confusion over what exactly constitutes a retired cricketer is under the spotlight once again, a week out from the start of cricket’s first league for retired cricketers.
Next Thursday in Dubai marks the launch of the Masters Champions League (MCL), involving some of the biggest names to have played the game over the past 20 years.
But this week, several Full Members have begun to express concerns about the lack of clarity over the playing status of some participants in the league; the International Cricket Council (ICC) is also understood to be uncomfortable about the league and has been called into action.
The ICC has sent an email, seen by The National, to its members asking them to notify the ICC if any of their "current/non-retired" players request them for an NOC (No Objection Certificate) to play in the MCL.
Read more: Meet the Masters Champions League all-star teams
The email says the ICC has “received notification from two Full Members that its current players have just been approached to play in the event, by requesting those players to seek NOC’s from their respective Board.”
As the ICC approved the league (after the Emirates Cricket Board had sanctioned it) on the basis that it was a tournament for retired players only, “the actions of those involved with the MCL in seeking current player participation in the event is unacceptable to us”.
The ICC is in communication with the MCL over the matter as well. It is thought that the ICC and its members feel the idea that was approved initially is not the reality of the league as it currently stands.
At that time, it was assumed to be a league for veterans, former players who had retired from all competitive forms of the game.
But gradually, that assumption has proved incorrect. As the recent players’ auction for the league showed, it is actually a mix of long-retired veterans as well as currently active domestic cricketers who have not retired from international cricket per se, but just have not played recently; players such as Richard Levi, Fidel Edwards, Krishmar Santokie, Graham Onions and several others.
The Pakistan Cricket Board (PCB) and the West Indies Cricket Board (WICB) are the boards who have flagged the ICC. There is thought to be at least one more board that has raised concerns.
A week ago, the PCB announced that only those Pakistani players would be given NOCs to play in the MCL who had “announced and confirmed their irrevocable resignation and retirement from international cricket”.
The board is irked especially by the presence of Abdul Razzaq in the MCL (with the Capricorn Commanders) and that he has been used for promotional purposes, especially as they will be launching their own Twenty20 league, the Pakistan Super League (PSL), in the UAE the following week.
Razzaq is unlikely to be picked again for Pakistan, and he is likely to be a peripheral presence in the PSL. Recent reports suggest he has announced his retirement but clearly the prospect of a Pakistani player being used to promote what has become a rival league has annoyed the PCB and contributed to long-standing friction.
Several MCL franchises have contacted national boards directly to obtain NOCs for players they purchased at an auction in December. The NOC is an ICC pre-condition to participation but it now seems as if the PCB, other members and the ICC think that an NOC can only be granted upon full retirement from the game.
Zafar Shah, the head of the MCL, confirmed he was in communications with the ICC and said these were the kinds of “teething issues” the league would face.
"This is the perfect time for players who have never announced their retirement to do it now," he told The National.
“For example Mohammad Yousuf never retired, he just found himself out and then not picked, he’s not even playing domestically.”
One official, however, suggests this could be seen as the MCL almost forcing players to retire to play in their league.
“The board is saying they have to come out and say they have retired and I agree with them,” Zafar said.
“Our format is very clear: retirement is a must. Otherwise we will not entertain anybody. But we don’t have influence with players to tell them to go and retire.
“It’s a teething issue because clarity is not there between players and their boards. It has never been done before. We are now setting this platform. Everybody will understand what to do from now.”
The blurring of lines between a player who is retired and one who is merely not being picked was made evident in the case of Shaun Tait this week. Tait was bought by the Libra Legends for the MCL, having not played an international game since 2011 and so, assumed to have retired.
Yet this week he was recalled to the Australian Twenty20 squad after a string of impressive performances in the Big Bash League, so he is, officially, not retired. He is also now out of the MCL.
“Well, this is a Catch-22 situation,” said Zafar.
“If people are going back to their boards, we have no issue.
“It’s OK, I will let Tait go. Obviously he will not play for us. We are here to help cricketers.”
As if to drive home the point, the PCB also announced on Thursday that Tait has reached an agreement to play with the Peshawar Zalmi in the PSL.
osamiuddin@thenational.ae
Follow us on Twitter @NatSportUAE
Like us on Facebook at facebook.com/TheNationalSport
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
Zodi%20%26%20Tehu%3A%20Princes%20Of%20The%20Desert
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EEric%20Barbier%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EYoussef%20Hajdi%2C%20Nadia%20Benzakour%2C%20Yasser%20Drief%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
The%20Genius%20of%20Their%20Age
%3Cp%3EAuthor%3A%20S%20Frederick%20Starr%3Cbr%3EPublisher%3A%20Oxford%20University%20Press%3Cbr%3EPages%3A%20290%3Cbr%3EAvailable%3A%20January%2024%3C%2Fp%3E%0A
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh132,000 (Countryman)
Zayed Sustainability Prize
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.”
What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used
Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ELeap%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202021%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ziad%20Toqan%20and%20Jamil%20Khammu%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20Undisclosed%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3ESeven%3C%2Fp%3E%0A
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
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 biog
Date of birth: 27 May, 1995
Place of birth: Dubai, UAE
Status: Single
School: Al Ittihad private school in Al Mamzar
University: University of Sharjah
Degree: Renewable and Sustainable Energy
Hobby: I enjoy travelling a lot, not just for fun, but I like to cross things off my bucket list and the map and do something there like a 'green project'.
RACE SCHEDULE
All times UAE ( 4 GMT)
Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm
Saturday, September 30
Qualifying: 1pm - 2pm
Sunday, October 1
Race: 11am - 1pm
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
