The one aspect that transcended all socioeconomic capacities was the
The one aspect that transcended all socioeconomic capacities was the
The one aspect that transcended all socioeconomic capacities was the
The one aspect that transcended all socioeconomic capacities was the

Deep amid wickets


Nick March
  • English
  • Arabic

A midsummer's day at Lord's Cricket Ground, England in 1983 and India's Mohinder Armanath is running in to bowl as the late-afternoon light begins to cast long shadows over this famous sporting venue. His opponent Michael Holding awaits Armanath's next delivery at the other end of a sun-bleached pitch. This is the Cricket World Cup final and India stands on the verge of claiming a famous victory over the West Indies.

In this moment, Armanath is the history man. The player who not only changed the course of a showpiece contest - the West Indies were then the leaders of world cricket, so far ahead of all their opponents it almost seemed unfair - he may well have changed the course of cricketing history too. Inspired, or at the very least chastened by India's World Cup-winning efforts in 1983, Pakistan and Sri Lanka would, in 1992 and 1996 respectively, also later claim the sport's biggest prize.

Armanath's performance leads, almost three decades later, to the reconstitution of a sport from one that had been run largely by an old colonial master and its former servant (with a little help from a Caribbean interloper), to the subcontinental affair it is now. If England and Australia used to hold the keys to the kingdom, then India, with its hyper-wealthy and star-studded premier league, is the game's current and undisputed ruler. That financial might has been matched on the pitch too. India, Pakistan and Sri Lanka have outperformed all others in this year's Cricket World Cup, which concludes tomorrow. Indeed, the 10th final of the competition will be the first to be contested by two teams from the subcontinent. Whatever the outcome, history will be made in Mumbai on Saturday.

Lee Hoagland, a staff photographer at The National, has watched the drama of the 2011 tournament unfold. Charged with recording the reactions of Abu Dhabi's expatriate communities, his pictures provide a snapshot of the multicultural social fabric of the capital.

From a standing-room-only labour-camp common room on the outskirts of Musaffah's industrial zone to the shopfronts of the city's backstreets, Hoagland's images focus on faces staring intently at a flickering screen. In doing so, he captures the transformative nature of sport - its ability to take spectators away from the humdrum of their daily existence and into a world where their heroes achieve the almost impossible.

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

How does ToTok work?

The calling app is available to download on Google Play and Apple App Store

To successfully install ToTok, users are asked to enter their phone number and then create a nickname.

The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.

Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

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.”

LIVING IN...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Napoleon
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UAE squad

Humaira Tasneem (c), Chamani Senevirathne (vc), Subha Srinivasan, NIsha Ali, Udeni Kuruppuarachchi, Chaya Mughal, Roopa Nagraj, Esha Oza, Ishani Senevirathne, Heena Hotchandani, Keveesha Kumari, Judith Cleetus, Chavi Bhatt, Namita D’Souza.

MATCH INFO

Uefa Champions League, last 16, first leg

Tottenham Hotspur v Borussia Dortmund, midnight (Thursday), BeIN Sports

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
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Calls

Directed by: Fede Alvarez

Starring: Pedro Pascal, Karen Gillian, Aaron Taylor-Johnson

4/5