With new additions to bolster the squad and the departure of a key starter, the Denver Nuggets will arrive in Abu Dhabi to tip off their preseason next month looking to rebuild a cohesive unit that can deliver a second NBA title in franchise history, to go with the one they secured in 2023.
Denver are scheduled to face reigning champions Boston Celtics in two preseason games at the Etihad Arena on October 4 and 6, and while head coach Michael Malone hopes to get his team in shape as soon as possible, he says there are also other priorities for them during their upcoming visit to the UAE capital.
“I think I speak for everybody in our travel party that we're excited to visit a part of the world that most of us have never been to, to meet many wonderful people and to try to embrace the culture,” Malone said in a Zoom call on Thursday.
Malone will be taking part in clinics for local coaches, and hopes to make a positive impact on the basketball community in the Emirates.
“What I hope that we can accomplish is when we come to Abu Dhabi and we do some clinics that we can maybe teach and help some young coaches over there learn some of the things that we do in the NBA as coaches,” he added.
“And I know that we have the best players in the world, but it's also about fundamentals and teaching young boys, young girls, the fundamentals of the game.
“Our hope is we come over there and we can help the coaches in Abu Dhabi become better coaches and learn a thing or two that will help them in their respective programs.”
This will be the third edition of the NBA Abu Dhabi Games and will pit the last two league champions against one another.
Nuggets superstar and three-time NBA MVP Nikola Jokic returns to the capital for the second time in three months, having taken part in a training camp with Serbia in Abu Dhabi ahead of the Olympics in July. But the majority of his teammates will be visiting the region for the first time and coach Malone believes there is a lot to look forward to.
“My mindset is to have a very open mindset. I love to travel. And the great thing about the game of basketball is that that ball has brought me all over the globe. And what unites people from different backgrounds, from different cultures, is a love for the game,” he said.
“This is the third iteration of the Abu Dhabi Games, which we're very, very proud to be a part of, and the goal is to go over there and just try to immerse yourself in the local culture. Be thankful for them hosting us in their country, in their city, in front of their fans and to put on a good show.
“We want everybody to walk away from these two games having learnt a little bit about the Denver Nuggets, having learnt a little bit about the Boston Celtics, and enjoying watching some of the best players in the world. So I go there with a very, very thankful mindset, open mindset, and being appreciative to be a small part of something special.”
Jokic and Jamal Murray have together formed a formidable partnership that brought Denver a first NBA title in the Nuggets’ 47-year history last year.
After a disappointing defeat to the Minnesota Timberwolves in the second round of the playoffs last season, Jokic and Murray are expected to get the Nuggets back on track. But they’ll be doing it without the help of starting shooting guard Kentavious Caldwell-Pope, who signed a three-year deal with Orlando Magic earlier this summer.
Some reinforcements were brought in to help cushion the blow of losing Caldwell-Pope and Malone feels he has all the ingredients to help guide the Nuggets to a second ring.
“One thing I know about the NBA is that things are always changing. Change is inevitable,” said Malone.
“And I mention that because last year’s team, we lost Kentavious Caldwell-Pope, who was our starting two guard, a big part of us winning a championship the year before. You sign a 17-year veteran in Russell Westbrook, who will be a first ballot Hall-of-Famer, we're so excited to add Russell Westbrook and his family to our family.
“You add a player from Croatia, NBA veteran Dario Saric, who has been a part of some very good, talented teams, and we welcome Dario and his family.”
The Nuggets first-round draft pick DaRon Holmes tore his Achilles during the Summer League and will not play in this upcoming campaign but Malone is happy to have him on board, along with the other young players on the roster, which he insists is about more than just Jokic.
“Nikola is a great player, and for me as a coach, and what I learnt many years ago from my father, who was also a coach, is that great players make everyone around them better, and Nikola has done that year in and year out,” said Malone.
“We know that he's one of the greatest players to play the game, as proven by his three MVPs, but as we add players around Nikola, it's always about complementing his skill set, adding guys that can play with Nikola, thrive with Nikola and Jamal Murray, who we feel is one of the best players in the NBA as well at his position.
“Michael Porter Jr, Aaron Gordon, a lot of the guys that have been here for many years, and Nikola is great, but we also have a lot of other talented players, and now we have to find a way to speed the process up of bringing all these players and new players together to become a family and attack this upcoming season.”
Last season, the Nuggets were trying to become the first back-to-back NBA champions since Golden State Warriors won in 2017 and 2018.
“The toughest part about that was that if you don't win a second championship in a row, everybody thinks you failed. And you had 29 teams every night coming after us, as we had a bullseye on our back, we were the defending champs, and everybody wanted to dethrone us,” explained Malone.
“And now that torch is going to pass to the Boston Celtics, and they'll have to experience that. But I have to say, I give our players a lot of credit. Throughout the season, there were times that we had to remind ourselves of who we are and remind them of what we were trying to accomplish, in terms of being a back-to-back champions, and then ultimately, when we lost to Minnesota in the second round, that was devastating for all of us. But that also allows for you to take an opportunity to look within and find out how you can become better as a player, as a coach, as an organisation.
“Because once you've tasted that success of being a champion, everything motivates you to try to get back to that, to experience it once again. And as we open up the season with the Abu Dhabi Games, that's something that we hope to try to get back to.”
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.”
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
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PROFILE OF CURE.FIT
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- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
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