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Sports

India name Gambhir new head coach

Gautam Gambhir
Gautam Gambhir
India’s cricket board named Gautam Gambhir as head coach on Tuesday, with the former opener taking over from Rahul Dravid, tasked with building on their recent World Cup triumph.
Gambhir said it was “an absolute honour” to take India’s top cricketing job.
“I have always taken pride while donning the Indian jersey during my playing days, and it is going to be no different when I take up this new role,” Gambhir said in a statement.
The 42-year-old Gambhir takes over from batting great Dravid, who finished his stint with the T20 World Cup title in Barbados last month.
Jay Shah, secretary of the Board of Control for Cricket in India (BCCI) called Gambhir a “fierce competitor and a brilliant strategist”, and said he had been “unanimously” chosen to be the head coach.
Gambhir scored over 10,000 international runs during his 13-year-long international career for India since his ODI debut in 2003.
“We believe he will bring the same tenacity and leadership to his role as head coach,” Shah said, adding Gambhir “will bring out the best in our players”.
He is the only Indian - and one of four international cricketers including Don Bradman, Jacques Kallis and Mohamed Yousuf - to have scored centuries in five successive Test matches.
“Modern-day cricket has evolved rapidly, and Gautam has witnessed this changing landscape up close,” Shah added.
A talented left-handed batter
Gambhir, a talented left-handed batsman who played a key part in India’s ODI World Cup win in 2011, recently coached Kolkata Knight Riders to an IPL crown.
“Having endured the grind and excelled in various roles throughout his career, I am confident that Gautam is the ideal person to steer Indian cricket forward,” Shah said.
“His clear vision for Team India, coupled with his vast experience, positions him perfectly to take on this exciting and most sought-after coaching role.”
Gambhir now takes over a team with heightened expectations after their T20 triumph, their fourth World Cup title and first major crown since the 2013 Champions Trophy.
BCCI president Roger Binny said Gambhir’s appointment marks a “new chapter for Indian cricket”, praising his “experience, dedication, and vision for the game”.
India’s white-ball tour of Sri Lanka in late July will be Gambhir’s first assignment as coach of the national team.
India also awaits a T20 captain after Rohit Sharma and Virat Kohli retired from the shortest format soon after a thrilling win over South Africa in the World Cup final in Barbados on June 29.
Shah also offered his “sincere thanks and gratitude” to Dravid, ending his coaching career on a high.
“Under his guidance, Team India emerged as a dominant force across formats, including being crowned ICC Men’s T20 World Cup champions,” Shah said.
“His strategic acumen, persistent efforts to nurture talent and exemplary leadership have instilled a culture of excellence within the team and that is also the legacy he leaves behind.”
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Last Edited July 10, 2024 | 12:06 AM

Binance said it had a “substantial footprint” in the UAE, employing around 1,000 of its 5,000 total staff there
Abu Dhabi-backed investor buys into Binance with $2bn of crypto

Abu Dhabi-backed investment group MGX has made a $2bn cryptocurrency investment in Binance, the companies said on Wednesday, deepening ties between the world’s largest crypto exchange and the United Arab Emirates.The deal, which Binance called its first institutional investment, is one of the largest ever in the crypto industry. It will see MGX become a minority shareholder after making the investment in stablecoin — a type of cryptocurrency pegged to a fiat currency such as the dollar.A Binance spokesperson declined to comment on “the agreed governance rights” or the size of MGX’s stake, or on which stablecoin was used for the investment.MGX also declined to comment.Binance, founded in 2017 in China by billionaire Changpeng Zhao, grew into the world’s biggest crypto exchange after tapping into soaring demand for trading bitcoin and other cryptocurrencies.Zhao, known as “CZ”, pleaded guilty to violating US laws against money laundering at Binance, and spent months in jail last year.The exchange has been growing its links with the UAE under CZ’s successor Richard Teng, who was previously head of Abu Dhabi’s Financial Services Authority.Binance said in Wednesday’s announcement it had a “substantial footprint” in the UAE, employing around 1,000 of its 5,000 total staff there.The investment in Binance is the first public foray into crypto by MGX, which was established almost exactly a year ago “to accelerate the development and adoption of AI and advanced technologies” through partnerships, it said at the time.The UAE is aiming to become a global centre for digital assets including crypto and has been trying to attract some of the biggest firms to build locally as part of a plan to diversify its economy.“MGX’s investment in Binance reflects our commitment to advancing blockchain’s transformative potential for digital finance,” said Ahmed Yahia, managing director and CEO of MGX, in the statement. Blockchain is the technology underpinning cryptocurrencies.MGX, which has also invested in OpenAI and Elon Musk’s xAI, is chaired by Sheikh Tahnoon bin Zayed al-Nahyan, the UAE’s National Security Adviser and a brother of UAE President Sheikh Mohammed bin Zayed al-Nahyan. Abu Dhabi’s state-owned $330bn wealth fund Mubadala is a partner in MGX.The crypto industry enjoyed a revival in the past year, a turnaround after a series of collapses and scandals in 2022 revealed widespread misconduct and left investors with large losses. The biggest cryptocurrency bitcoin hit new all-time highs following the election of US President Donald Trump, who has taken a pro-crypto stance.A US federal judge in February agreed to put a civil lawsuit by the US Securities and Exchange Commission against Binance on hold for 60 days.Teng told Reuters in December that Binance was still looking for a base for its global headquarters, in what is seen as a push to improve transparency in the wake of the criminal charges against CZ and a $4.3bn fine Binance agreed to pay in 2023 in the US.In January, French investigators said they had opened a judicial probe into money laundering, tax fraud and other charges at Binance, which said it denied the allegations.“This investment by MGX is a significant milestone for the crypto industry and for Binance. Together, we are shaping the future of digital finance,” Teng said.