AUCKLAND, NEW ZEALAND // Jonny Wilkinson, the England fly-half, has lauded the selection of Toby Flood to inside centre for their Rugby World Cup quarter-final against France as the team opt for some versatility in a midfield which has lacked creativity in the tournament so far.
Flood's promotion at the expense of the injured vice-captain Mike Tindall was one of four changes made by Martin Johnson, the head coach, today for the match at Eden Park, giving the Six Nations champions another adept passer and a right-footed kicking option.
"The fact is you have two guys on the same wavelength, that focus on the same things with a similar way of sorting out problems. We have both played at 10 and 12 and we will have to adapt to situations as they happen on the pitch," Wilkinson said.
"Having Toby there is very reassuring. It is reassuring knowing that if I am at the bottom of a ruck, then there is someone there making decisions and thinking like a 10."
Johnson had faced a selection dilemma with Tindall in doubt all week with a leg injury and Wilkinson battling an arm complaint as well as form concerns, while in his limited opportunities Flood was replicating the performances that helped lead England to the Six Nations title.
Shontayne Hape appeared to be the logical selection if England wanted a like-for-like replacement for Tindall, as the specialist inside centre is also mostly noted for his defence despite scoring two tries against Georgia in his only match so far at the tournament.
But Johnson preferred a more nuanced option inside of the hard-running Manu Tuilagi at outside centre.
"Floody has been playing very, very well," Johnson said. "Toby will bring us something different than Mike and Shontayne or Matt Banahan in that position. It's an exciting combination for us. It gives us Toby's kicking game, Toby's passing game. He's a pretty experienced Test player now, with 40 plus caps. He's been playing well."
Even Ben Youngs, the scrum-half, is enthused by the possibilities of Wilkinson and Flood combining.
"It will be interesting to see how they go because they know each other really well," Youngs said. "I am really excited about it and, if anything, it will add to our attack. Toby can step in at 10 and I think it will allow us to spread the ball more, so long as we can get the forwards into the right place on the pitch."
Flood's selection also gives England another goal-kicking option, with his 77 per cent success rate at the World Cup currently above Wilkinson's career average (74) and at the tournament (45).
"I have had only two kicks that I would like to take back," Wilkinson said of his 11 missed shots from 20 attempts. "The others I am happy with. I am always confident taking kicks and always confident I can land them.
"We will have a plan before the game. Toby has knocked some good kicks over. I haven't been at my best but we will have to see on the day."
Asked who will be England's first-choice kicker, Johnson was tight-lipped.
"We'll see on Saturday," he said.
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.”
Fitness problems in men's tennis
Andy Murray - hip
Novak Djokovic - elbow
Roger Federer - back
Stan Wawrinka - knee
Kei Nishikori - wrist
Marin Cilic - adductor
What can you do?
Document everything immediately; including dates, times, locations and witnesses
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Torque: 230Nm
Transmission: 6-speed automatic
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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
UAE currency: the story behind the money in your pockets
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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Results
6.30pm Madjani Stakes Rated Conditions (PA) I Dh160,000 I 1,900m I Winner: Mawahib, Tadhg O’Shea (jockey), Eric Lemartinel (trainer)
7.05pm Maiden Dh150,000 I 1,400m I Winner One Season, Antonio Fresu, Satish Seemar
7.40pm: Maiden Dh150,000 I 2,000m I Winner Street Of Dreams, Pat Dobbs, Doug Watson
8.15pm Dubai Creek Listed I Dh250,000 I 1,600m I Winner Heavy Metal, Royston Ffrench, Salem bin Ghadayer
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10pm Handicap I Dh160,000 I 1,600m I Winner Sea Skimmer, Patrick Cosgrave, Helal Al Alawi
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Sugary teas and iced coffees
The tax authority is yet to release a list of the taxed products, but it appears likely that sugary iced teas and cold coffees will be hit.
For instance, the non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.
Cold coffee brands are likely to be hit too. Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
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Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
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Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
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
Director: Romany Saad
Starring: Mirfat Amin, Boumi Fouad and Tariq Al Ibyari