• Archana Hande, All is Fair in Magic White, 2008–2011. Photo: Archana Hande
    Archana Hande, All is Fair in Magic White, 2008–2011. Photo: Archana Hande
  • Tahila Mintz, Ancestral Gratitude Bridge, 2022. Photo: Tahila Mintz
    Tahila Mintz, Ancestral Gratitude Bridge, 2022. Photo: Tahila Mintz
  • Angela Ponce, Ayacucho, 2017–2022. A young woman takes flowers to the dead in an act of commemoration. Photo: Angela Ponce
    Angela Ponce, Ayacucho, 2017–2022. A young woman takes flowers to the dead in an act of commemoration. Photo: Angela Ponce
  • Inuuteq Storch, Porcelain Souls, 2018. Photo: Inuuteq Storch
    Inuuteq Storch, Porcelain Souls, 2018. Photo: Inuuteq Storch
  • Yinka Shonibare, Decolonised Structures (Lord Kitchener), 2022. Commissioned by Sharjah Art Foundation. Photo: Yinka Shonibare / Stephen Friedman Gallery, London
    Yinka Shonibare, Decolonised Structures (Lord Kitchener), 2022. Commissioned by Sharjah Art Foundation. Photo: Yinka Shonibare / Stephen Friedman Gallery, London
  • Kahurangiariki Smith, He Tangi Aroha (Mama Don't Cry), 2019. Photo: Kahurangiariki Smith
    Kahurangiariki Smith, He Tangi Aroha (Mama Don't Cry), 2019. Photo: Kahurangiariki Smith
  • Nusra Latif Qureshi, The Ideal Floral Background, 2013. Photo: Nusra Latif Qureshi / Sutton Gallery, Melbourne
    Nusra Latif Qureshi, The Ideal Floral Background, 2013. Photo: Nusra Latif Qureshi / Sutton Gallery, Melbourne
  • Pak Khawateen Painting Club at Chashma Barrage, 2022. Photo: The artists
    Pak Khawateen Painting Club at Chashma Barrage, 2022. Photo: The artists
  • Amar Kanwar, The Peacock's Graveyard, 2023. Commissioned by Sharjah Art Foundation. Photo: Amar Kanwar
    Amar Kanwar, The Peacock's Graveyard, 2023. Commissioned by Sharjah Art Foundation. Photo: Amar Kanwar
  • Lavanya Mani, Signs taken for wonders, 2009. Photo: Lavanya Mani and Chemould Prescott Road
    Lavanya Mani, Signs taken for wonders, 2009. Photo: Lavanya Mani and Chemould Prescott Road
  • Pushpakanthan Pakkiyarajah, Grieving and Mycelium, 2020–2022. Photo: Pushpakanthan Pakkiyarajah
    Pushpakanthan Pakkiyarajah, Grieving and Mycelium, 2020–2022. Photo: Pushpakanthan Pakkiyarajah

A closer look at Sharjah Biennial's take on postcolonialism, with more than 70 new works


Hareth Al Bustani
  • English
  • Arabic

This February, Sharjah will come alive with a striking array of artworks from more than 150 artists and collectives, representing more than 70 countries, for Sharjah Biennial 15.

Titled Thinking Historically in the Present, the programme is inspired by the transformational work of the late Nigerian curator, art critic and writer Okwui Enwezor, whose work left a lasting impact on Biennial curator and Sharjah Art Foundation director, Sheikha Hoor Al Qasimi.

Sheikha Hoor said: “Two decades ago, I experienced Okwui’s Documenta 11 which, with its radical embrace of postcolonialism, transformed my curatorial perspective. His idea of ‘thinking historically in the present’ is the conceptual framework for the Biennial, which we’ve sought to honour and elaborate on while also reflecting on the Foundation’s own past, present and future as the Biennial marks its 30-year anniversary."

Sheikha Hoor Al Qasimi's curation of Sharjah Biennal 15 is inspired by the transformational work of the late Okwui Enwezor. Photo: Sebastian Boettcher
Sheikha Hoor Al Qasimi's curation of Sharjah Biennal 15 is inspired by the transformational work of the late Okwui Enwezor. Photo: Sebastian Boettcher

Enwezor saw contemporary art exhibitions as a way to bring history, politics and society into a current, international setting. Sheikha Hoor's interpretation of this legacy draws on her own experience of the Sharjah Art Foundation as a visitor, artist, curator and eventual director.

"We look forward to welcoming local audiences and visitors from around the world to reflect on the Biennial’s themes and the artists’ wide-ranging perspectives on nationhood, tradition, race, gender, body and imagination."

Sheikha Hoor's curation will elaborate on Enwezor's work with a selection of more than 300 artworks, centering the past within a contemporary context. Alongside a diverse array of performances across several mediums — including music and film — the programme will feature more than 18 venues in Al Dhaid, Hamriyah, Kalba, Khorfakkan and Sharjah city.

Several venues are in Sharjah's historic quarter, including the recently restored and transformed The Flying Saucer and Kalba Ice Factory, as well as repurposed buildings that were once a vegetable market, medical clinic and kindergarten.

With venues ranging from historical sites to modern landmarks, regional art centres and contemporary spaces, the programme is designed draw a thread through several pockets of Sharjah's history and that of its communal and geographic landscapes. Performances, concerts and workshops are framed by intimate observations of everyday lives and vernacular traditions.

Sheikha Hoor has also collaborated with artists on more than 70 new works, which bridge past and present, as well as a diverse set of postcolonial histories.

Semsar Siahaan, Racism, 2001. Photo: Gajah Gallery, Singapore.
Semsar Siahaan, Racism, 2001. Photo: Gajah Gallery, Singapore.

These include major new commissions by John Akomfrah, Maria Magdalena Campos-Pons, Doris Salcedo, Berni Searle and Barbara Walker — which reflect the lingering aftereffects of colonialism. Other new works include a feature film by Coco Fusco, an installation by Bouchra Khalili, multimedia work by Almagul Menlibayeva and a sound installation by Hajra Waheed, which reimagine the political conflicts precipitated by the modern nation-building process.

These works represent a multicultural and transnational mode of thought, simultaneously embedded into the local social fabric. Spanning Sharjah's own lived past, it brings to light nuanced conversations on postcolonial subjectivity, and the body as a repository of memories, restitution, racialisation, transgenerational continuities and decolonisation.

Elsewhere, Brook Andrew and Isaac Julien explore museumised objects and their restitution, while indigenous identities and values are interpreted by Destiny Deacon, Robyn Kahukiwa and Tahila Mintz. Individual and personal histories are juxtaposed by collective notions of grief and transformation by Gabrielle Goliath, Amar Kanwar, Wangechi Mutu and Carrie Mae Weems.

Sharjah Biennial will use historic, modern and contemporary sites across the emirate of Sharjah. Photo: Sharjah Architecture Triennial
Sharjah Biennial will use historic, modern and contemporary sites across the emirate of Sharjah. Photo: Sharjah Architecture Triennial

More local to Sharjah, Kerry James Marshall presents an outdoor installation in the form of an archaeological find inspired by fact, myth and tales, while Lubaina Himid and Nil Yalter stage public interventions into the city's urban fabric. Simultaneously, Basel Abbas and Ruanne Abou-Rahme, Asma Belhamar, Kambui Olujimi, Prajaka Potnis and Veronica Ryan create site-specific projects to create dialogue between the Foundation's old and new architecture.

The programme will also include performances and theatrical presentations in February from Gabriela Golder, Hassan Hajjaj, Rachid Hedli, Tania El Khoury, The Living and the Dead Ensemble and Aline Motta.

In March, Marwah AlMugait, Shiraz Bayjoo, Naiza Khan and Akeim Toussaint Buck will perform — in conjunction with the annual March Meeting; where artists, curators, scholars and practitioners from around the world converge to discuss vital issues in contemporary art.

This year, the meeting will explore the political and socio-economic shifts that have charactised the world since the 1960s; alongside an exploration of concepts such as first nation and indigenous practices, creolisation, hybridity and supranational formations. Throughout March and April, musicians Youssou N’Dour and Abdullah Ibrahim will also perform, with additional acts to be announced later.

Sharjah Biennial 15 is free to the public and runs from February 7 to June 11

The specs: 2018 Range Rover Velar R-Dynamic HSE

Price, base / as tested: Dh263,235 / Dh420,000

Engine: 3.0-litre supercharged V6

Power 375hp @ 6,500rpm

Torque: 450Nm @ 3,500rpm

Transmission: Eight-speed automatic

Fuel consumption, combined: 9.4L / 100kms

Common%20symptoms%20of%20MS
%3Cul%3E%0A%3Cli%3EFatigue%3C%2Fli%3E%0A%3Cli%3Enumbness%20and%20tingling%3C%2Fli%3E%0A%3Cli%3ELoss%20of%20balance%20and%20dizziness%3C%2Fli%3E%0A%3Cli%3EStiffness%20or%20spasms%3C%2Fli%3E%0A%3Cli%3ETremor%3C%2Fli%3E%0A%3Cli%3EPain%3C%2Fli%3E%0A%3Cli%3EBladder%20problems%3C%2Fli%3E%0A%3Cli%3EBowel%20trouble%3C%2Fli%3E%0A%3Cli%3EVision%20problems%3C%2Fli%3E%0A%3Cli%3EProblems%20with%20memory%20and%20thinking%3C%2Fli%3E%0A%3C%2Ful%3E%0A
UAE currency: the story behind the money in your pockets
It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

Nick's journey in numbers

Countries so far: 85

Flights: 149

Steps: 3.78 million

Calories: 220,000

Floors climbed: 2,000

Donations: GPB37,300

Prostate checks: 5

Blisters: 15

Bumps on the head: 2

Dog bites: 1

Superpower%20
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ESean%20Penn%2C%20Aaron%20Kaufman%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%0D%3Cbr%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EClara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPatrick%20Rogers%2C%20Lee%20McMahon%2C%20Arthur%20Guest%2C%20Ahmed%20Arif%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ELegalTech%0D%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%244%20million%20of%20seed%20financing%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EWamda%20Capital%2C%20Shorooq%20Partners%2C%20Techstars%2C%20500%20Global%2C%20OTF%2C%20Venture%20Souq%2C%20Knuru%20Capital%2C%20Plug%20and%20Play%20and%20The%20LegalTech%20Fund%3C%2Fp%3E%0A
RESULTS

1.45pm: Maiden Dh75,000 1,400m
Winner: Dirilis Ertugrul, Fabrice Veron (jockey), Ismail Mohammed (trainer)
2.15pm: Handicap Dh90,000 1,400m
Winner: Kidd Malibu, Sandro Paiva, Musabah Al Muhairi
2.45pm: Maiden Dh75,000 1,000m
Winner: Raakezz, Tadhg O’Shea, Nicholas Bachalard
3.15pm: Handicap Dh105,000 1,200m
Winner: Au Couer, Sean Kirrane, Satish Seemar
3.45pm: Maiden Dh75,000 1,600m
Winner: Rayig, Pat Dobbs, Doug Watson
4.15pm: Handicap Dh105,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer
4.45pm: Handicap Dh80,000 1,800m
Winner: King’s Shadow, Richard Mullen, Satish Seemar

Everything Now

Arcade Fire

(Columbia Records)

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

HOW TO WATCH

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RESULTS

6.30pm Handicap (TB) US$65,000 (Dirt) 1,400m

Winner Golden Goal, Pat Dobbs (jockey), Doug Watson (trainer)

7.05pm Dubai Racing Club Classic Listed Handicap (TB) $88,000 (Turf) 2,410m

Winner: Walton Street, William Buick, Charlie Appleby.

7.40pm Dubai Stakes Group 3 (TB) $130,000 (D) 1,200m

Winner Switzerland, Tadhg O’Shea, Satish Seemar

8.15pm Singspiel Stakes Group 3 (TB) $163,000 (T) 1,800m

Winner Lord Giltters, Adrie de Vries, David O’Meara

8.50pm Al Maktoum Challenge Round-1 (TB) $228,000 (D) 1,600m

Winner Military Law, Antonio Fresu, Musabah Al Muhairi.

9.25pm Al Fahidi Fort Group 2 (TB) $163,000 (T) 1,400m

Winner Land Of Legends, Frankie Dettori, Saeed bin Suroor

10pm Dubai Dash Listed Handicap (TB) $88,000 (T) 1,000m

Winner Equilateral, Frankie Dettori, Charles Hills.

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
The Africa Institute 101

Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction. 

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

Oppenheimer
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EChristopher%20Nolan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ECillian%20Murphy%2C%20Emily%20Blunt%2C%20Robert%20Downey%20Jr%2C%20Florence%20Pugh%2C%20Matt%20Damon%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E5%2F5%3Cbr%3E%3C%2Fp%3E%0A
FIGHT%20CARD
%3Cp%3E%3Cstrong%3EFeatherweight%204%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EYousuf%20Ali%20(2-0-0)%20(win-loss-draw)%20v%20Alex%20Semugenyi%20(0-1-0)%3Cbr%3E%3Cstrong%3EWelterweight%206%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EBenyamin%20Moradzadeh%20(0-0-0)%20v%20Rohit%20Chaudhary%20(4-0-2)%3Cbr%3E%3Cstrong%3EHeavyweight%204%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EYoussef%20Karrar%20(1-0-0)%20v%20Muhammad%20Muzeei%20(0-0-0)%3Cbr%3E%3Cstrong%3EWelterweight%206%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EMarwan%20Mohamad%20Madboly%20(2-0-0)%20v%20Sheldon%20Schultz%20(4-4-0)%3Cbr%3E%3Cstrong%3ESuper%20featherweight%208%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EBishara%20Sabbar%20(6-0-0)%20v%20Mohammed%20Azahar%20(8-5-1)%3Cbr%3E%3Cstrong%3ECruiseweight%208%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EMohammed%20Bekdash%20(25-0-0)%20v%20Musa%20N%E2%80%99tege%20(8-4-0)%3Cbr%3E%3Cstrong%3ESuper%20flyweight%2010%20rounds%3A%3C%2Fstrong%3E%3Cbr%3ESultan%20Al%20Nuaimi%20(9-0-0)%20v%20Jemsi%20Kibazange%20(18-6-2)%3Cbr%3E%3Cstrong%3ELightweight%2010%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EBader%20Samreen%20(8-0-0)%20v%20Jose%20Paez%20Gonzales%20(16-2-2-)%3C%2Fp%3E%0A
Yemen's Bahais and the charges they often face

The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.

The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran. 

Today, some 2,000 Baha'is reside in Yemen, according to Insaf. 

"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said. 

Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer. 

The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy. 

 

Six pitfalls to avoid when trading company stocks

Following fashion

Investing is cyclical, buying last year's winners often means holding this year's losers.

Losing your balance

You end up with too much exposure to an individual company or sector that has taken your fancy.

Being over active

If you chop and change your portfolio too often, dealing charges will eat up your gains.

Running your losers

Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.

Selling in a panic

If you sell up when the market drops, you have locked yourself out of the recovery.

Timing the market

Even the best investor in the world cannot consistently call market movements.

Imperial%20Island%3A%20A%20History%20of%20Empire%20in%20Modern%20Britain
%3Cp%3EAuthor%3A%20Charlotte%20Lydia%20Riley%3Cbr%3EPublisher%3A%20Bodley%20Head%3Cbr%3EPages%3A%20384%3C%2Fp%3E%0A
If you go...

Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.

Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50

SHOW COURTS ORDER OF PLAY

Wimbledon order of play on Saturday, July 8
All times UAE ( 4 GMT)

Centre Court (4pm)
Agnieszka Radwanska (9) v Timea Bacsinszky (19)
Ernests Gulbis v Novak Djokovic (2)
Mischa Zverev (27) v Roger Federer (3)

Court 1 (4pm)
Milos Raonic (6) v Albert Ramos-Vinolas (25)
Anett Kontaveit v Caroline Wozniacki (5)
Dominic Thiem (8) v Jared Donaldson

Court 2 (2.30pm)
Sorana Cirstea v Garbine Muguruza (14)
To finish: Sam Querrey (24) leads Jo-Wilfried Tsonga (12) 6-2, 3-6, 7-6, 1-6, 6-5
Angelique Kerber (1) v Shelby Rogers
Sebastian Ofner v Alexander Zverev (10)

Court 3 (2.30pm)
Grigor Dimitrov (13) v Dudi Sela
Alison Riske v Coco Vandeweghe (24)
David Ferrer v Tomas Berdych (11)

Court 12 (2.30pm)
Polona Hercog v Svetlana Kuznetsova (7)
Gael Monfils (15) v Adrian Mannarino

Court 18 (2.30pm)
Magdalena Rybarikova v Lesia Tsurenko
Petra Martic v Zarina Diyas

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

About Tenderd

Started: May 2018

Founder: Arjun Mohan

Based: Dubai

Size: 23 employees 

Funding: Raised $5.8m in a seed fund round in December 2018. Backers include Y Combinator, Beco Capital, Venturesouq, Paul Graham, Peter Thiel, Paul Buchheit, Justin Mateen, Matt Mickiewicz, SOMA, Dynamo and Global Founders Capital

Biog

Mr Kandhari is legally authorised to conduct marriages in the gurdwara

He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada

Father of two sons, grandfather of six

Plays golf once a week

Enjoys trying new holiday destinations with his wife and family

Walks for an hour every morning

Completed a Bachelor of Commerce degree in Loyola College, Chennai, India

2019 is a milestone because he completes 50 years in business

 

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Walls

Louis Tomlinson

3 out of 5 stars

(Syco Music/Arista Records)

Abu Dhabi Card

5pm: Maiden (PA) Dh 80,000 1,400m

National selection: AF Mohanak

5.30pm: Handicap (PA) Dh 90,000 1,400m

National selection: Jayide Al Boraq

6pm: Handicap (TB) Dh 100,000 1,400m

National selection: Rocket Power

6.30pm: Abu Dhabi Championship Listed (PA) Dh 180,000 1,600m

National selection: Ihtesham

7pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 1,600m

National selection: Noof KB

7.30pm: Maiden (PA) Dh 80,000 2.200m

National selection: EL Faust

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MATCH INFO

Uefa Champions League, last-16. first leg

Atletico Madrid v Juventus, midnight (Thursday), BeIN Sports

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.”

NYBL PROFILE

Company name: Nybl 

Date started: November 2018

Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono

Based: Dubai, UAE

Sector: Software Technology / Artificial Intelligence

Initial investment: $500,000

Funding round: Series B (raising $5m)

Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up 

COMPANY%20PROFILE
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Updated: January 19, 2023, 9:11 AM