CLEVELAND – The depleted Los Angeles Lakers had to keep Robert Sacre on the court after he fouled out in the fourth quarter of their 119-108 victory over the Cleveland Cavaliers on Wednesday night.
Rookie Ryan Kelly scored a career-high 26 points, and Steve Blake had his first career triple-double with 11 points, 15 assists and 10 rebounds to help Los Angeles snap a seven-game losing streak. The Lakers went 18 for 37 from 3-point range, but Los Angeles’ first win in two weeks was overshadowed by a bizarre ending.
The Lakers had eight available players coming into the game. Then Nick Young twisted his left knee in the first half and Chris Kaman fouled out early in the fourth quarter. When Jordan Farmar left with an injury in the final period that left Los Angeles with five players.
Sacre committed his sixth foul with 3:32 remaining, but stayed in the game because coach Mike D’Antoni was out of healthy bodies. The Lakers were assessed a technical foul.
Farmar scored 21 points, and Wesley Johnson added 20 for the Lakers.
C.J. Miles led Cleveland with 27 points. All-Star point guard Kyrie Irving was taken out with 7:32 remaining in the third quarter and finished with 11 points as the Cavaliers lost their sixth consecutive game.
HEAT 116, CLIPPERS 112
LOS ANGELES – LeBron James had 31 points, 12 assists and eight rebounds, Ray Allen hit a clinching 3-pointer in the final minute, and Miami snapped a five-game road losing streak against Los Angeles.
Allen had 15 points off the bench for the two-time defending NBA champions, who began a six-game road trip that will be interrupted four games in by the All-Star break. Dwyane Wade, one of seven Miami players scoring in double figures, had 14 points and eight assists in his 700th regular-season game.
THUNDER 106, TIMBERWOLVES 97
OKLAHOMA CITY – Kevin Durant had 26 points, nine rebounds and seven assists and Oklahoma City won for the 12th time in 13 games, beating a Minnesota team without Kevin Love and two other starters.
Ricky Rubio had 19 points, eight rebounds and five assists for Minnesota.
SPURS 125, WIZARDS 118, 2OT
WASHINGTON – Tim Duncan scored a season-high 31 points before fouling out in the second overtime, and San Antonio beat Washington Wizards for an NBA-high 16th time in a row.
Patty Mills scored 11 of his 23 points in the two overtimes for the Spurs, who haven’t lost to the Wizards since Nov. 12, 2005.
ROCKETS 122, SUNS 108
HOUSTON – Dwight Howard had 34 points and 14 rebounds, James Harden added 23 points and Houston beat Phoenix for its fourth straight victory.
Goran Dragic had 23 points and eight assists for Phoenix. The Suns have dropped two in a row after winning five straight.
TRAIL BLAZERS 94, KNICKS 90
NEW YORK – Nicolas Batum had 20 points and 10 rebounds, Wesley Matthews scored 18 points, and Portland overcame poor-shooting nights by its two All-Stars to beat New York.
Carmelo Anthony scored 26 points on 11-of-28 shooting for New York.
KINGS 109, RAPTORS 101
SACRAMENTO, Calif. – DeMarcus Cousins had 25 points and 10 rebounds, Rudy Gay added 24 points and 10 rebounds, and Sacramento held off Toronto to earn its fourth win in five games.
Kyle Lowry had 21 points, eight assists and seven rebounds for the Raptors. Demar DeRozan scored 18 points, Patrick Patterson 14 and Steve Novak 12, all in the fourth quarter.
PELICANS 105, HAWKS 100
NEW ORLEANS – Anthony Davis had 27 points and 10 rebounds in New Orleans’ victory over Atlanta.
Brian Roberts scored 17 of his 19 points in the second half, including an off-balance driving floater with 20.5 seconds left that gave New Orleans a five-point lead. Paul Millsap scored 26 points for Atlanta.
CELTICS 114, 76ERS 108
PHILADELPHIA – Jeff Green scored 17 of his 36 points in the third quarter to lead Boston.
Jared Sullinger had 19 points and 10 rebounds for Boston, who improved to 17-33, winning their second straight game after losing 19 of 22. Thaddeus Young had 20 points for Philadelphia.
MAVERICKS 110, GRIZZLIES 96
MEMPHIS, Tenn. – Dirk Nowitzki scored 26 points, Brandan Wright added 17 and Dallas used a second-half surge to beat Memphis. Zack Randolph scored 25 points for Memphis.
NUGGETS 110, BUCKS 100
DENVER – Wilson Chandler scored seven of his 24 points in the final 1:52 and Denver held on to beat Milwaukee. Larry Sanders had 25 points and 15 rebounds for short-handed Milwaukee, and Khris Middleton also scored 25 points.
MAGIC 112, PISTONS 98
ORLANDO, Fla. – Rookie Victor Oladipo came off the bench to score 20 points, and Glen Davis had 18 to help Orlando beat Detroit. Josh Smith scored 25 points for Detroit.
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MATCH INFO
Uefa Champions League quarter-final, second leg (first-leg score):
Manchester City (0) v Tottenham Hotspur (1), Wednesday, 11pm UAE
Match is on BeIN Sports
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
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.”
The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The biog
Profession: Senior sports presenter and producer
Marital status: Single
Favourite book: Al Nabi by Jibran Khalil Jibran
Favourite food: Italian and Lebanese food
Favourite football player: Cristiano Ronaldo
Languages: Arabic, French, English, Portuguese and some Spanish
Website: www.liliane-tannoury.com
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Schedule
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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
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
The design
The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.
More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.
The architecture will control light sources to provide a highly insulated and airtight building.
The forecourt is protected from the sun and the plants will refresh the inner spaces.
A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.
Energy-saving equipment will be used for all lighting and projections.
Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.
Some elements of the metal frame can be prefabricated in a factory.
From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.
Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019.
Construction of the pavilion will take 17 months from May 2019 to September 2020.
The specs: 2018 Renault Koleos
Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 170hp @ 6,000rpm
Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
Pathaan
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Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
