Captains bemoan the lack of real consistency



BRISBANE // The Australia captain Ricky Ponting was happy to claim his first Test win in over five months, but called on his batsmen to lift their game in the wake of a 149-run victory over New Zealand. The Australians were on top for the duration of the first Test at the Gabba, but had a number of shaky sessions with the willow.

Bold knocks from Michael Clarke (98 in the first innings) and Simon Katich (an unbeaten 131 in the second) propped up the home side's modest totals of 214 and 268. Ponting suggested his side would not be getting carried away with the win, saying: "I think we were a fair way off playing our best cricket, both teams struggled with the bat on that wicket. "[But] after halfway through the second day, it probably wasn't a bad surface to bat on at all.

"I thought we bowled very well, we fielded well, but our batting wasn't great." Ponting was confident his side would improve ahead of the second and final Test against the Black Caps in Adelaide on Friday. "We've done what we needed to do, we had a number of outstanding individual performances in the game, but at the moment we're just lacking that real consistency through the group that we need to play our best cricket," he said. "We head to Adelaide, probably on a better batting surface, hopefully the guys who got starts here can go on and get big scores."

Ponting was impressed with the efforts of man-of-the-match Mitchell Johnson, 27, suggesting the 'sky is the limit' for him after he claimed his maiden five-wicket haul in the second innings. "The thing I like about him is that he's continually working on things," Ponting said. "He's done as well as any of our bowlers over the last 12 or 18 months, but he's the first one to go and have a look at video footage and work on things. He's always trying to find ways to improve."

The Black Caps skipper Daniel Vettori saw the loss at as a key step in a revolution of New Zealand cricket. The visitors brought an inexperienced line-up into the opening Test and Vettori had talked pre-match about how his raw charges must find runs during the series - something they struggled to do in Brisbane. "I still look at the guys and think they're extremely talented, but we've got to turn that talent into a consistent performance and unfortunately we're just not quite getting that," Vettori said.

Meanwhile, Australia experiment of playing two all-rounders proved short-lived as Shane Watson was dropped from the squad for the second Test. Peter Siddle replaced Watson after the Queenslander could only manage scores of one and five and match figures of 2-54 during the first Test. The change also confirmed that Andrew Symonds was now back in favour. * PA Sport

China and the UAE agree comprehensive strategic partnership

China and the UAE forged even closer links between the two countries during the landmark state visit after finalising a ten-point agreement on a range of issues, from international affairs to the economy and trade and renewable energy.

1. Politics: The two countries agreed to support each other on issues of security and to work together on regional and international challenges. The nations also confirmed that the number of high-level state visits between China and the UAE will increase.

2. Economy: The UAE offers its full support to China's Belt and Road Initiative, which will combine a land 'economic belt" and a "maritime silk road" that will link China with the Arabian Gulf as well as Southeast, South and Central China, North Africa and, eventually, Europe. 

3. Business and innovation: The two nations are committed to exploring new partnerships in sectors such as Artificial Intelligence, energy, the aviation and transport industries and have vowed to build economic co-operation through the UAE-China Business Committee.

4. Education, science and technology: The Partnership Programme between Arab countries in Science and Technology will encourage young Emirati scientists to conduct research in China, while the nations will work together on the peaceful use of nuclear energy, renewable energy and space projects. 

5. Renewable energy and water: The two countries will partner to develop renewable energy schemes and work to reduce climate change. The nations have also reiterated their support for the Abu Dhabi-based International Renewable Energy Agency.

6. Oil and gas: The UAE and China will work in partnership in the crude oil trade and the exploration and development of oil and natural gas resources.

7. Military and law enforcement and security fields: Joint training will take place between the Chinese and UAE armed forces, while the two nations will step up efforts to combat terrorism and organised crime. 

8. Culture and humanitarian issues: Joint cultural projects will be developed and partnerships will be cultivated on the preservation of heritage, contemporary art and tourism. 

9. Movement between countries: China and the UAE made clear their intent to encourage travel between the countries through a wide-ranging visa waiver agreement.

10. Implementing the strategic partnership: The Intergovernmental Co-operation Committee, established last year, will be used to ensure the objectives of the partnership are implemented.

 

 

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South and West: From a Notebook
Joan Didion
Fourth Estate 

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How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

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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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