The Rangers transformed themselves by adding Cy Young winner Cliff Lee in early July.
The Rangers transformed themselves by adding Cy Young winner Cliff Lee in early July.

Rangers want to be players in the post-season



The Texas Rangers are afflicted by a history of futility that rivals that of any baseball franchise not named "the Chicago Cubs". The Rangers have a chance to change that, and they are not letting the opportunity pass. As baseball's July 31 no-waiver trade deadline came and went, it was the Rangers who made the biggest moves to improve themselves, outstripping even the New York Yankees. The Rangers traded for Cliff Lee, the left-handed pitcher, Bengie Molina, the catcher, and the infielders Jorge Cantu and Cristian Guzman to plug holes as well as provide depth in veteran talent. They now seem positioned to accomplish what no team in the 50-year history of the franchise has done: win a play-off series. Neither the Rangers nor their 1961/71 antecedents, the expansion version of the Washington Senators, have won a World Series. They are one of only three MLB teams who have never even played in one, and they are one of only two never to have won a play-off series. Even the benighted Cubs have won a World Series, albeit in 1908. Texas rose to the top of the American League West this season on the strength of heavy hitting by the likes of Josh Hamilton, Vladimir Guerrero, Michael Young and Nelson Cruz.

The Rangers rank third in baseball in scoring, behind only the Yankees and the Boston Red Sox, and that is why they lead their division by nearly 10 games. Their pitching, however, seemed thin, with the competent but largely unproven CJ Wilson, Colby Lewis and Tommy Hunter gathered around the fragile Rich Harden, the putative ace. It seemed unlikely any combination of those three pitchers could hope to match-up in the play-offs with the top three pitchers from their potential opponents, the Tampa Bay Rays, the Red Sox, the Chicago White Sox or the Yankees. The Rangers transformed themselves by adding Lee, a Cy Young Award winner and proven play-off performer the past two seasons. The Yankees, the club that dismissed the Rangers in Texas's only three forays into the play-offs (1996, 1998, 1999), thought they had a deal to obtain Lee from the Seattle Mariners.

But it was the Rangers who slipped in at the last moment and spirited away Lee in a trade that centred around Justin Smoak, the young first baseman who may be a star someday but probably will not. Molina is a power-hitting catcher who fills what had been the one weak spot in the lineup. Cantu and Guzman give the Rangers the flexibility to survive injuries to Ian Kinsler, the star second baseman. As surprising as all the bold moves: that the Rangers added more than US$6 million (Dh22m) to their payroll while still in bankruptcy proceedings. "They've got the lead in the division and a No 1 starter," a National League official told ESPN.com after the Lee trade. "That's pretty good for a team in bankruptcy." Lee gives the Rangers real hope that they can become a bigger October story in Dallas than the Cowboys. At least for a few weeks. poberjuerge@thenational.ae

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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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UAE currency: the story behind the money in your pockets
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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
Results

7pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Dirt) 1,600m; Winner: RB Kings Bay, Abdul Aziz Al Balushi (jockey), Helal Al Alawi (trainer)

7.30pm: Maiden (PA) Dh 70,000 (D) 1,600m; Winner: AF Ensito, Fernando Jara, Mohamed Daggash

8pm: Maiden (PA) Dh70,000 (D) 1,400m; Winner: AF Sourouh, Tadhg O’Shea, Ernst Oertel

8.30pm: Maiden (PA) Dh70,000 (D) 1,800m; Winner: Baaher, Fabrice Veron, Eric Lemartinel

9pm: Maiden (PA) Dh70,000 (D) 2,000m; Winner: Mootahady, Antonio Fresu, Eric Lemartinel

9.30pm: Handicap (TB) Dh70,000 (D) 2,000m; Winner: Dubai Canal, Tadhg O’Shea, Satish Seemar

10pm: Al Ain Cup – Prestige (PA) Dh100,000 (D) 2,000m; Winner: Harrab, Bernardo Pinheiro, Majed Al Jahouri

Indika
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THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

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.”

Past winners of the Abu Dhabi Grand Prix

2016 Lewis Hamilton (Mercedes-GP)

2015 Nico Rosberg (Mercedes-GP)

2014 Lewis Hamilton (Mercedes-GP)

2013 Sebastian Vettel (Red Bull Racing)

2012 Kimi Raikkonen (Lotus)

2011 Lewis Hamilton (McLaren)

2010 Sebastian Vettel (Red Bull Racing)

2009 Sebastian Vettel (Red Bull Racing)

 

Getting there

The flights

Emirates and Etihad fly to Johannesburg or Cape Town daily. Flights cost from about Dh3,325, with a flying time of 8hours and 15 minutes. From there, fly South African Airlines or Air Namibia to Namibia’s Windhoek Hosea Kutako International Airport, for about Dh850. Flying time is 2 hours.

The stay

Wilderness Little Kulala offers stays from £460 (Dh2,135) per person, per night. It is one of seven Wilderness Safari lodges in Namibia; www.wilderness-safaris.com.

Skeleton Coast Safaris’ four-day adventure involves joining a very small group in a private plane, flying to some of the remotest areas in the world, with each night spent at a different camp. It costs from US$8,335.30 (Dh30,611); www.skeletoncoastsafaris.com