ABU DHABI // Kumar Sangakkara likes batting against Pakistan. Six of his 26 Test hundreds have come against them and Friday's unbeaten 161 at the Zayed Cricket Stadium formed the first thread of true defiance in a Test in which his side have been dominated.
Sangakkara stood unbowed through a windy, sandy day against a threatening Pakistan attack let down by their fielders, as Sri Lanka closed 16 runs short of making Pakistan bat again.
At 298 for five with the last recognised batting pair at the crease though, the Test is still Pakistan's to lose.
"I am not sure what it is but ever since I scored a double when I played against them in the Asian Test championship [in 2002], since then I'm not sure what the reason is, but maybe I read their bowlers better," Sangakkara said.
"It would've been nice if I got it in the first innings but it was a tough fight and one of my better hundreds."
There was some luck. He was almost out on 50, only for replays to show Younis Khan's attempted catch at slip may have touched the grass first.
Another escape came on 56, Younis again putting down a tough chance.
But, otherwise, it was pure Sangakkara, occasional cover drives on one knee, many cuts through point and mostly solid defence.
It had to be, because Pakistan's bowlers - unlike their fielders, who dropped six chances through the day - brought persistent threat, none more so than Junaid Khan, who saw two chances missed off his bowling.
"They bowled exceptionally well," Sangakkara said.
"They used the new ball well. The spinners came on and they continued to keep the pressure on.
"It's a new attack, they've got two seniors in [Saeed] Ajmal and [Umar] Gul but it's heartening to see two young bowlers come in and Junaid used his angles and pace variations well."
Gul said the conditions were difficult still for fast bowlers, but the team were confident they could win their first Test against Sri Lanka since 2006 on Saturday.
"It's a slow wicket and the ball is stopping, so there are only chances when you have a new ball," said Gul.
"Spinners have a good chance and its not easy to score against them. We dropped a few catches. We had a few bad sessions but we are still very confident.
"This is the last batting pair so we will try to get them early."
Talk by the end of a well-attended day had switched to how much Pakistan might have to chase now to win, a clear indication of how well Sri Lanka have fought.
Cautiously, Sangakkara said a target of 100-150 would put the pressure on Pakistan.
He said: "There is still a lot of work left and, if we can get the first session through, we can put some pressure on Pakistan."
osamiuddin@thenational.ae
COMPANY PROFILE
Name: Kumulus Water
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Zayed Sustainability Prize
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
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.”
Fifa Club World Cup:
When: December 6-16
Where: Games to take place at Zayed Sports City in Abu Dhabi and Hazza bin Zayed Stadium in Al Ain
Defending champions: Real Madrid
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
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.
Thanksgiving meals to try
World Cut Steakhouse, Habtoor Palace Hotel, Dubai. On Thursday evening, head chef Diego Solis will be serving a high-end sounding four-course meal that features chestnut veloute with smoked duck breast, turkey roulade accompanied by winter vegetables and foie gras and pecan pie, cranberry compote and popcorn ice cream.
Jones the Grocer, various locations across the UAE. Jones’s take-home holiday menu delivers on the favourites: whole roast turkeys, an array of accompaniments (duck fat roast potatoes, sausages wrapped in beef bacon, honey-glazed parsnips and carrots) and more, as well as festive food platters, canapes and both apple and pumpkin pies.
Ruth’s Chris Steakhouse, The Address Hotel, Dubai. This New Orleans-style restaurant is keen to take the stress out of entertaining, so until December 25 you can order a full seasonal meal from its Takeaway Turkey Feast menu, which features turkey, homemade gravy and a selection of sides – think green beans with almond flakes, roasted Brussels sprouts, sweet potato casserole and bread stuffing – to pick up and eat at home.
The Mattar Farm Kitchen, Dubai. From now until Christmas, Hattem Mattar and his team will be producing game- changing smoked turkeys that you can enjoy at home over the festive period.
Nolu’s, The Galleria Mall, Maryah Island Abu Dhabi. With much of the menu focused on a California inspired “farm to table” approach (with Afghani influence), it only seems right that Nolu’s will be serving their take on the Thanksgiving spread, with a brunch at the Downtown location from 12pm to 4pm on Friday.
