The Indian Premier League game between Chennai Super Kings and Rajasthan Royals on Wednesday has been postponed after Chennai officials informed IPL organisers that the squad had entered a week-long quarantine.
Chennai CEO K Viswanathan revealed the franchise has written to the IPL to inform them that the squad and staff were isolating after two positive Covid-19 cases were detected during testing on Monday. Bowling coach L Balaji and the cleaner of the team bus are reported to be those who returned positive results, according to ESPNcricinfo.
Viswanathan had also recently tested positive as part of a trio from the Chennai franchise on Sunday, but he was cleared on Monday.
"The IPL SOPs say if any member of the team is infected, the rest of the group needs to isolate for seven days. So we have informed the IPL on Monday," said Viswanathan, who confirmed that the rest of the Chennai staff and squad tested negative on Monday.
The postponement is the second such delay this week after Monday's game between the Royal Challengers Bangalore and the Kolkata Knight Riders was called off following the positive cases of Kolkata bowlers Varun Chakravarthy and Sandeep Warrier.
However, Tuesday's match between the Mumbai Indians and the Sunrisers Hyderabad in Delhi is expected to go ahead, despite Balaji being present in the dugout during Saturday's game between Mumbai and Chennai. All of Mumbai's players and staff were subsequently tested and cleared.
Additionally, some of the groundstaff at the Arun Jaitley Stadium had previously tested positive, although Rohan Jaitley, the president of the Delhi & Districts Cricket Association, confirmed all stadium staff present over the weekend have tested negative.
BCCI consider Mumbai shift to save season
News of Wednesday's postponement comes after reports emerged claiming the Board of Control for Cricket in India (BCCI) is considering shifting the remaining 31 matches of the IPL to Mumbai.
India's tally of coronavirus infections surged past 20 million on Tuesday, following 357,229 new cases over the last 24 hours, as the country battles a devastating second wave.
BCCI president Sourav Ganguly and IPL chairman Brijesh Patel have yet to officially respond to the reports, but Mumbai could be the organisers' best option to salvage the tournament, with three stadiums in and around the city.
Though it is being played in a bio-secure bubble without spectators, the league has faced fierce social media criticism for continuing in the midst of the pandemic.
The Australian trio of Andrew Tye, Adam Zampa and Kane Richardson have cut short their IPL stints to return home last week.
Most of the Australian players in the IPL want to fulfil their commitment, the Australian Cricketers' Association said on Tuesday.
The players' union would talk to the Australian government on the players' travel plans once the league finished on May 30, ACA chief executive Todd Greenberg told Radio 2GB.
A New Zealand Cricket representative said the board was keeping an eye on the "fluid situation" in India where nearly a dozen of their players are playing in the league.
"None have requested they come home yet but we're continuing to monitor developments," the representative told New Zealand Herald.
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.”
Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
MATCH INFO
Manchester United 6 (McTominay 2', 3'; Fernandes 20', 70' pen; Lindelof 37'; James 65')
Leeds United 2 (Cooper 41'; Dallas 73')
Man of the match: Scott McTominay (Manchester United)
My Country: A Syrian Memoir
Kassem Eid, Bloomsbury
Fines for littering
In Dubai:
Dh200 for littering or spitting in the Dubai Metro
Dh500 for throwing cigarette butts or chewing gum on the floor, or littering from a vehicle.
Dh1,000 for littering on a beach, spitting in public places, throwing a cigarette butt from a vehicle
In Sharjah and other emirates
Dh500 for littering - including cigarette butts and chewing gum - in public places and beaches in Sharjah
Dh2,000 for littering in Sharjah deserts
Dh500 for littering from a vehicle in Ras Al Khaimah
Dh1,000 for littering from a car in Abu Dhabi
Dh1,000 to Dh100,000 for dumping waste in residential or public areas in Al Ain
Dh10,000 for littering at Ajman's beaches
Andor
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Usain Bolt's World Championships record
2007 Osaka
200m Silver
4x100m relay Silver
2009 Berlin
100m Gold
200m Gold
4x100m relay Gold
2011 Daegu
100m Disqualified in final for false start
200m Gold
4x100m relay Gold
2013 Moscow
100m Gold
200m Gold
4x100m relay Gold
2015 Beijing
100m Gold
200m Gold
4x100m relay Gold
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
STAR%20WARS%20JEDI%3A%20SURVIVOR
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Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends