Pakistan slump against Australia



Pakistan's ability to self-destruct came to the fore again as opener Salman Butt undermined their reply to Australia's mammoth first innings total with two comical run-outs in the final Test in Hobart. The tourists were already up against it after Australia declared on 519 for eight - captain Ricky Ponting hitting 209 and his deputy Michael Clarke chipping in with 166 - but their hopes of posting a solid response were hit when they slumped to 94 for four at stumps on day two. Butt was largely responsible after being involved in the dismissals of skipper Mohammad Yousuf and Umar Akmal. The first came after Yousuf played a superb off-drive off Doug Bollinger and after running two called for a legitimate and easily obtainable third. But despite the fact Yousuf was running to the danger end, Butt refused to run at the non-striker's end leaving his captain stranded. Incredibly Butt refused to run when again at the non-striker's end just a few overs later to leave teenage sensation Umar also stranded as the visitors' running between the wickets matched their woeful catching attempts during Australia's innings. The run-outs came after Peter Siddle had taken two wickets to leave Pakistan reeling. They ended the day needing another 226 runs just to avoid the follow-on. Resuming on 302 for three Ponting and Clarke, having come together with Australia precariously placed at 71 for three, continued to humiliate the Pakistan bowlers as they eventually put on 352 for the fourth wicket before Clarke was bowled by leg spinner Danish Kaneria shortly after lunch without offering a shot. Ponting went on to make 209, his third-highest Test score, before young paceman Mohammad Aamer finally claimed his wicket having been responsible for dropping the local hero on day one before he had even scored. It was the second-highest fourth-wicket partnership in Australia's Test history as Ponting and Clarke only narrowly missed out on wiping out one of the many records held by arguably Australia's two greatest batsmen in Don Bradman and Bill Ponsford. That legendary pair still hold the fourth-wicket record of 388, set against England at Leeds in 1934. But incredibly Pakistan missed yet another chance to get rid of Ponting with another dropped catch in the first session. That came when Ponting was on 167 after the Tasmanian launched a full-blooded cover drive off Kaneria which went straight through the hands of Imran Farhat at cover. By then Ponting had already surpassed his previous highest score on his home ground of 157 against New Zealand in 2001 and he received a standing ovation when he brought up his fifth Test double century, his fourth on Australian soil and his second against Pakistan. But even after they finally removed Ponting and Clarke, the pain continued for Pakistan as Brad Haddin - who was dropped by new keeper Sarfraz Ahmed on 19 to take the tourists' total number of dropped catches for the series to 16 - made a quickfire 41 off just 34 balls. However Marcus North's recent struggles continued as he fell for 21. When it was Pakistan's turn to finally bat the visitors also looked comfortable until the 23rd over when Siddle - who came into this match having taken only six wickets at an average of 70 this summer - finally got his just rewards for his continued hard toil. First he removed Farhat, caught behind for 38, before Khurram Manzoor - a surprise choice at number three in place of Faisal Iqbal - lasted just four balls before slashing to Ponting at second slip.

Australia (overnight 302-3): S Watson c Farhat b Gul 29 S Katich lbw b Asif 11 R Ponting c Yousuf b Aamer 209 M Hussey c Ahmed b Aamer 6 M Clarke b Kaneria 166 M North c Ahmed b Asif 21 B Haddin c Gul b Kaneria 41 M Johnson c Ahmed b Kaneria 8 N Hauritz not out 12 Extras: (1b, 3kb, 7nb, 5w) Total: (for 8 wickets) 519 Fall of wickets: 1-28, 2-52, 3-71, 4-423, 5-443, 6-498, 7-499, 8-518 Bowling: M Asif 36-8-104-2 M Aamer 31-7-97-2 U Gul 25-4-98-1 D Kaneria 42.5-2-189-3 S Malik 8-0-27-0 Pakistan: I Farhat c Haddin b Siddle 38 S Butt batting 34 K Manzoor c Ponting b Siddle 0 M Yousuf run out (Johnson) 7 U Akmal run out (Siddle) 8 S Malik batting 4 Extras: (3b, 1nb, 1w) Total: (for 4 wickets, 36 overs) 94 Fall of wicket: 1-63, 2-63, 3-74, 4-84 Bowling: D Bollinger 6-2-13-0 P Siddle 10-3-20-2 M Johnson 7-1-32-0 N Hauritz 134-28-0

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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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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.”

Expert advice

“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”

Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles

“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”

Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre 

“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”

Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
 

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(Interscope)