The crowds watching the Sri Lanka-England quarter-final at the R Premadas Stadium in Colombo yesterday included many supporters of other nations who had hoped to see their teams playing there. Gemunu Amarasinghe / AP Photo
The crowds watching the Sri Lanka-England quarter-final at the R Premadas Stadium in Colombo yesterday included many supporters of other nations who had hoped to see their teams playing there. Gemunu Amarasinghe / AP Photo
The crowds watching the Sri Lanka-England quarter-final at the R Premadas Stadium in Colombo yesterday included many supporters of other nations who had hoped to see their teams playing there. Gemunu Amarasinghe / AP Photo
The crowds watching the Sri Lanka-England quarter-final at the R Premadas Stadium in Colombo yesterday included many supporters of other nations who had hoped to see their teams playing there. Gemunu

Uncertainty of cricket World Cup's knockout matches has the fans in disarray


Paul Radley
  • English
  • Arabic

The eight-foot-tall inflatable kangaroo did not have much say in its change of colours.
Wrapped in a toga made up of Sri Lankan flags, the message from its Australian owners was clear as to where their allegiance now lay: anyone but England.
Thanks to the uncertainty of the draw at this World Cup, yesterday's crowd at the R Premadasa Stadium in Colombo was unusually cosmopolitan. That said, there were not many neutrals.
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More

. India's 'Wall' Dravid backs MCC's pink ball experiment
. Sri Lankan openers crush England to seal third World Cup semi-final
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The majority of fans were dressed in newly acquired Sri Lanka shirts, but some opted to battle on regardless of the fact their country had been eliminated. There were plenty wearing Australian colours, some were in South Africa kit, while one particularly optimistic supporter was wearing the green of Ireland.
"We had hoped Australia would be playing here, but now we are here to see England's demise," said one Australian tourist, who added he was of Sri Lankan heritage.
Given that the quarter-finalists only found out which venue they would be playing at at the conclusion of the group stage last week, most travelling supporters had to make their plans either blindly or at the last minute.
Some Australians, for example, gambled on the fact their side would play Sri Lanka in Colombo, but then had to watch on television as they exited the tournament 2,000 kilometres away in Ahmedabad.
Gullivers Sports Travel, one of the International Cricket Council's (ICC) official travel agents and a leading tour provider for England supporters, have brought around 300 tourists to the World Cup.
They admit that they only had a one in four chance of guessing that England would be playing their quarter-final in Colombo, and were lucky to be proved right.
"In most events, if your chosen side qualifies from the pool stages, it is usually pretty clear where they will be playing in the knockout stages," Alister Strahan, the manager for outbound supporters at Gullivers, said.
"For example, in the Rugby World Cup, if England qualify from their pool we know exactly where they will play through to the final. In the Cricket World Cup, however, it's guess work.
"We picked the quarter-final in Colombo because it was the last one and so we created a nice package that took in both Sri Lanka and India and incorporated one quarter-final, the semis and final. England actually being there has turned out to be a bonus."
Perhaps surprisingly, given the uncertainty, vastly more people travel to watch the tournament from the quarter-final stage onwards than in the groups.
"The knockout stages for any world cup are the easiest to plan for," Strahan said. "Regardless of who is actually playing in the semis and final, there is always a market to watch them.
"For both the cricket and rugby world cups, 90 per cent of travellers will go for the knockout stages."
Some were lucky enough to be flexible with their planning. Neil Tunbridge, a consultant from England who lives in Dubai, bought a ticket at two days' notice from an online auction site.
He paid Dh200 for a ticket which he subsequently discovered had originally been complimentary, from a French expatriate with no interest in cricket, who had landed the ticket in a ballot at his workplace.
Not that he was concerned about the mark-up. The Dh200 fee he paid equates to around a third of the price spectators will have to pay to get in to the first day of the Lord's Test between England and India later this summer.
He then booked a last-minute flight with flydubai, leaving after work on Thursday evening, with his scheduled return straight after the game meaning he would be back in time for work this morning.
"It was a great opportunity to go to a game more or less on the doorstep," he said. "Cost was not so much of a limitation, being so close and with a relatively cheap ticket.
"The timing of the game was perfect as well, being able to just come here for the weekend and not take any time off from work."
Resale of World Cup tickets contravenes the ICC's terms and conditions, which state: "Tickets must not be offered publicly (including on any website) for sale."
However, given the late notice at which supporters had to plan for these matches, the black market was not surprisingly active.
On the website forum of England's supporters club, the Barmy Army, the moderator had to remind posters that touting tickets would not be tolerated. "Swaps, face value, or less only - not for profit," it wrote.
 
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Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

Developer: Ubisoft Montreal / Ubisoft Toronto
Publisher: Ubisoft
Platforms: Playstation 4, Xbox One, Windows
​​​​​​​Release Date: April 10

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.”

Need to know

The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours. 

The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.

When to go: You can climb Kili at any time of year, but the best months to ascend  are  January-February and September-October.  Also good are July and August, if you’re tolerant of the colder weather that winter brings.

Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

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Zidane's managerial achievements

La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017

The specs

Engine: 5.2-litre V10

Power: 640hp at 8,000rpm

Torque: 565Nm at 6,500rpm

Transmission: 7-speed dual-clutch auto

Price: From Dh1 million

On sale: Q3 or Q4 2022 

'I Want You Back'

Director:Jason Orley

Stars:Jenny Slate, Charlie Day

Rating:4/5