Kohli announced on January 15 he was stepping down as Test captain, a day after India lost a three-match series to South Africa. AFP
Kohli announced on January 15 he was stepping down as Test captain, a day after India lost a three-match series to South Africa. AFP


Cricket needs Kohli to withdraw his resignation



January 21, 2022

Kohli should withdraw his resignation

I write in reference to Paul Radley’s article Virat Kohli: good at captaincy, useless at endings (January 16): Virat Kohli's resignation as India’s cricket Test captain comes as a shock. He is one of the world's best cricketers; a brilliant batter and strategist. Under his leadership, India have won many matches and competitions both at home and abroad.

Kohli is also a social media phenomenon. With 180 million followers on Instagram, he outdoes India’s popular prime minister, Narendra Modi, on the platform; Mr Modi has about 65 million followers.

The point is that Kohli must think practically. He is one of the highest-paid athletes globally. In addition to his match earnings, he makes millions from endorsing products on various channels, including Instagram. Will his brand not take a beating if he is no longer captain?

At 33, he has a lot of cricket left in him, and he remains a great asset for the country. So I hope the Indian cricket board persuades him to withdraw his resignation and continue leading the national team.

Rajendra Aneja, Mumbai, India

The world must act upon the Houthis’ attack

I write in reference to Rory Reynolds’ article UAE 'reserves right to retaliate' after drone attack on Abu Dhabi by Houthi militia (January 17): what the Houthis have done is nothing short of a terrorist act on a peace-loving country. I am deeply saddened by the loss of life. Those who died were civilians going about their jobs. While the attack is shocking, the international community needs to do more than just condemn it. The US must put the Houthis back on its terror list. The rest of us, meanwhile, should pray for the innocent victims.

K Ragavan, Bengaluru, India

Gambia has led the Rohingya cause

With reference to your report Fire at Rohingya camp in Bangladesh leaves thousands homeless (January 10): Gambia deserves our gratitude for pursuing the case against the Myanmar government for its role in perpetrating an ongoing genocide against the Rohingya. The case, being heard at the International Court of Justice, will pave the way for justice for the genocide survivors. But we need the bigger powers around the globe to exert political pressure on Myanmar so it ends its decades-long atrocities against the Rohingya. The rest of the world must support Gambia’s initiative.

Zafar Ahmad Abdul Ghani, Malaysia

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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.”

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

Graduated from the American University of Sharjah

She is the eldest of three brothers and two sisters

Has helped solve 15 cases of electric shocks

Enjoys travelling, reading and horse riding

 

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

MATCH INFO

What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany

Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)

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The%20Legend%20of%20Zelda%3A%20Tears%20of%20The%20Kingdom
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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Result:

1. Cecilie Hatteland (NOR) atop Alex - 31.46 seconds

2. Anna Gorbacheva (RUS) atop Curt 13 - 31.82 seconds

3. Georgia Tame (GBR) atop Cash Up - 32.81 seconds

4. Sheikha Latifa bint Ahmed Al Maktoum (UAE) atop Peanuts de Beaufour - 35.85 seconds

5. Miriam Schneider (GER) atop Benur du Romet - 37.53 seconds

6. Annika Sande (NOR) atop For Cash 2 - 31.42 seconds (4 penalties)

Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
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TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

The bio

Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been
Favourite place to visit: Dubai, there’s no place like home

Company%20Profile
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The biog:

From: Wimbledon, London, UK

Education: Medical doctor

Hobbies: Travelling, meeting new people and cultures 

Favourite animals: All of them 

Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

COMPANY%20PROFILE
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COMPANY%20PROFILE
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The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Updated: January 21, 2022, 3:00 AM