Dwyane Wade of the Miami Heat lays up a shot during the game against the Philadelphia 76ers.
Dwyane Wade of the Miami Heat lays up a shot during the game against the Philadelphia 76ers.

Wade leads scoring as Heat overcome Philadelphia



PHILADELPHIA // Dwyane Wade, LeBron James and Chris Bosh have their first win with Miami, and the Big Three got help from some big three-pointers in the Heat's 97-87 victory over the Philadelphia 76ers last night.

Playing with purpose a night after an 88-80 loss in a hyped showdown with Boston, the three looked as if they still need some games to get used to playing with each other. Only Wade, with 30 points, looked particularly sharp against the Sixers. The Heat hit three straight three-pointers in the third quarter to bust open an eight-point half-time lead.

James scored 16 points and Bosh had 15.

James and the Heat just could not squash the Sixers, who went on a 15-3 run late in the fourth to make it surprisingly competitive.

Wade's tough driving lay-up gave him 30 points - on 10-for-20 shooting - and sealed the win.

A James - not LeBron - led the Heat. James Jones hit 6-of-9 threes and scored 20 points. The Heat shot 50 per cent from three-point range - enough to make up for tough shooting nights from James and Bosh (combined 11 for 24).

Up next, Friday's home opener against Orlando.

For all the buzz surrounding the Heat, there were plenty of patches of empty seats in the announced sell-out crowd of 20,389 in the Sixers' home opener.

Evan Turner led the Sixers with 16 points in his first NBA game. Lou Williams and Thaddeus Young had 15.

James heard the loudest boos when he was introduced from fans that can deliver them as vociferously as any city in the league. He heard them occasionally during the game, but the volume was turned down and the noise mostly disappeared as the Heat pulled away.

One fan's sign called James "LeBum, the lyin' King" while another read "I witnessed no championship."

James was slow to warm up, and played the first quarter like it was a pre-season game. He was whistled for a travel, an offensive foul and threw the ball out of bounds off a drive down the lane.

James drew a crowd of onlookers during warm-ups, including several members of the Philadelphia Flyers.

Before the game, James said he already forgotten all about the Boston loss. He did not seem to care about suggestions that teams were playing harder with a chance to shine against the marquee team in the NBA.

"I've been a friend of that bulls-eye for a long time," James said.

Jones was the one right on target.

He hit four threes during a 16-2 run in the second quarter that gave the Heat a 49-41 lead at the break. For most of the first half, the fired-up Sixers gave Miami a bit of a run. In Doug Collins' first game as coach, the Sixers led 26-24 until Jones sparked a 10-0 run with the first three of his spurt.

The Heat kept rolling from long distance in the third quarter. Jones hit two around one from Eddie House and the lead was 76-51. Miami was up 80-54 after three.

As for the Sixers, Collins said before the game his pieces did not all fit. It showed when he started Jason Kapono - one of the team leaders in DNP-CD's last season. Kapono and starters Spencer Hawes and Jru Holiday combined for eight points.

The years Ramadan fell in May

1987

1954

1921

1888

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Name: Kumulus Water
 
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Match info

Karnataka Tuskers 110-3

J Charles 35, M Pretorius 1-19, Z Khan 0-16

Deccan Gladiators 111-5 in 8.3 overs

K Pollard 45*, S Zadran 2-18

RESULT

Norway 1 Spain 1
Norway: King (90 4')
Spain: Niguez (47')

EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
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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.”